f. NDIRF annual mtg proxy vote - Laserfiche WebLink

year were $2.7 million and members' equity was $19.9 million. The actuarial study performed on the NDIRF for 2012 indicated that the current level of members' equity provides an outstanding confidence level (well in excess of 90%). The conferment of benefits formula was explained. CEO Spilde stated that there is a double benefit to keeping the surplus at the current level—it keeps the money in North Dakota rather than paying millions over the years for reinsurance and part of the surplus is returned directly to NDIRF members. CEO Spilde reported that, in 2012, there was a strong increase in claim reserving due to increased activity throughout the state,especially in the western region. Keith Pic was introduced as NDIRF's new outside claims adjuster. As Chairperson Bina reported earlier, there was a heavy emphasis again on providing assistance and training in several different areas including employment practices, defensive driving, road maintenance,playground safety, law enforcement liability and emergency vehicle operations training to firefighters. Steve highlighted a few bills that were presented during the 2013 legislative session that could have affected the loss exposure to NDIRF members. He then recognized nine staff members who, in 2013, are celebrating 25 years of employment with the Fund. Chairperson Bina then recognized CEO Spilde for his work as NDIRF's Chief Executive Officer. Dave Glennon, from Eide Bailly, LLP was then introduced. Mr. Glennon provided a summary of the 2012 NDIRF financial audit and stated that NDIRF's management is responsible for the preparation and fair presentation of its financial statements and it is Eide Bailly's responsibility to express an opinion on those financial statements based on their audits which are conducted in accordance with auditing standards generally accepted in the USA. He then reviewed the Independent Auditor's Report Letter, dated March 6, 2013, along with the NDIRF's audited balance sheet and stated that, in accordance with generally accepted accounting principles, the NDIRF was given an unmodified(clean) opinion. The meeting was recessed at 11:28 a.m. so the"Cities" and "Counties"members could caucus for election of board members. When the meeting reconvened at 11:37 a.m., it was announced that Shawn Kessel was re-elected to the "Cities" category and Bruce Strinden was elected to the "Counties"category. Meeting attendees were then given an opportunity to ask questions. Door prizes were won by Charlie Whitman, City of Bismarck; Kevin Klipfel, Bismarck Parks& Rec; and Jodi Germandson of Williston Public School District. There being no further business to come before the 2013 NDIRF Annual Meeting of Members,the meeting was adjourned at 11:47 a.m. Respectfully submitted, Nancy M. Reis Recording Secretary