News Briefs

+ Board member questions pension report findings
Longboat Key Firefighters Pension Board member Shannon Gault discovered that Benchmark Financial Services President Ed Siedle used incorrect data in his investigation report to reflect the plan’s investment performance.

In a May 17 email sent to the Longboat Key Town Commission, Gault said that Siedle used a 10-year performance period to reflect the plan’s 1.25% under performance, starting in the year 2000.

But the plan’s investment manager, Morgan Stanley Smith Barney, was not the town’s investment manager until 2002.

“I believe we should ask Mr. Siedle to restate his performance numbers to reflect the exact time period that Morgan Stanley was working for us and not tag them with the previous firm’s performance,” Gault said. “It may make a dramatic difference.”

The board will discuss the report further at its 1:30 p.m. Wednesday, May 25 pension meeting.

+ Residents concerned about community center
Longboat Key Mayor Jim Brown assuaged the concern of a resident last week by stating the town is not moving forward with a $5 million to $7 million Bayfront Park Recreation Center project until funds are available.

Longboat Key resident Ray Rajewski sent an email to Brown Sunday, May 22, asking Brown why the town would be moving forward with a Bayfront Park concept plan and a recreation center project when it’s facing millions of dollars in unfunded pension liabilities.

“The town is facing a potential pension liability of millions of dollars and a beach renourishment liability of some $40 million to $50 million, and now you are contemplating a community center for some $5 million to $7 million?” Rajewski asked. “It seems that your intention is to move forward and spend more funds for a design on something that the residents don’t need. While I am not opposed to a community center, what are the priorities?”

Brown responded by explaining that no one is proposing to move ahead with the project until the time is appropriate.

“I share your concerns about potential future burdens on the taxpayers, and I have no desire to make that worse,” Brown wrote. “That having been said, I feel that a community center will be a great asset to the town, and this is backed up by many individuals in the community coming to the commission to ask us to move forward.”

+ Diver off Anna Maria Island pronounced dead
A 52-year-old man died Thursday, May 19 after making a dive 12 miles offshore, according to a statement released by the U.S. Coast Guard.

The Coast Guard was alerted by a boater that a diver returned from a 50-foot dive 12 miles west of Anna Maria Island and became unresponsive.

Coast Guard personnel arrived and began to administer CPR on the man, whose name has not been released.

The man was transported to Longboat Pass and placed on a boat ramp on Anna Maria Island, where he was pronounced dead.

Meetings & agendas

â–º Town Commission Regular Workshop — 1 p.m. Thursday, May 26.
â–º Town Commission Regular Meeting — 7 p.m. Monday, June 6.

All meetings take place at Town Hall, 501 Bay Isles Road.