- Minutes a January 26, 2023  POTTER COUNTY RETIREMENT BOARD MEETING  CALLTOORDER Commissioner Grupp called the meeting to order at 11:00a.m.  MOMENT OF SILENCE PLEDGE OF ALLEGIANCE  ROLLCALL Treasurer Krista Miller; Comm. Nancy Grupp, Comm. Paul Heimel, Comm. Barry Hayman and Recording Secretary Danielle Gietler all present; ChiefClerk Jessica Giebel,  absent. PUBLIC COMMENT None MINUTES  --July 28, 2022 -Action- Comm. Hayman moved to approve. Comm. Heimel seconded. Hayman --Oci. 20, 2022-Action- Comm. Heimel moved to approve. Treasurer Miller seconded. Heimel  yes; Heimel yes; Grupp yes. Treasurer Miller abstained. yes; Miller yes; Grupp yes. Comm. Hayman abstained.  OLD BUSINESS None NEW BUSINESS  Updated Summary Plan Description -Action- Treasurer Miller moved to approve. Comm. Shanel Nickolick with C.S. McKee presented a synopsis of economic conditions during the 4th quarter of2022. He led bys stating that multiple factors negatively affected the markets in 2022. However, the fourth-quarter results oft thel Potter County Employees' Retirement Fund were more encouraging. Economists now forecast a mild recession in 2023. Mike Donnally, also from C.S.McKee, discuss shifts madei in allocations ofthe counties assets between stocks and bonds and noted that the firm has adopted a conservative approach due to market volatility. Att the end ofthe 4th quarter, the fund's value was $17,579,043, up from $16,717,159: at the end ofthe 3rd  Hayman seconded. Miller yes; Hayman yes; Heimel yes; Grupp yes.  quarter of2022. By category:  Large-Cap Core Equity return was 7.82% for the quarter Small-Cap Core Equity return was 6.44% quarter Small-Cap Passive Equity return was 6.70% fort the quarter International Mutual Fund returned 17.31% for the quarter Fixed Income had a gain of1.86% for the quarter Total portfolio returned 6.14% for the quarter  ADJOURNMENT Treasurer Miller moved to adjourn. Comm. Grupp seconded. Miller yes;  Grupp yes; Heimel yes; Hayman yes.  Prepared by Danielle Gietler  Danils Lokidle - Potter County Executive Secretary  ApiL.20,2013 Approval Date  Last revised 4/21/2023. 2:16:55 PM PCC Retirement Board Meeting Minutes 01/26/2023 Page 1