FLORIDA SURPLUS ASSET FUND TRUST 10151 University Blvd., #227, Orlando, Florida 32817 Board of Trustees Florida Surplus Asset Fund Trust AGENDA This Board of Trustees meeting for Florida Surplus Asset Fund Trust will be held on Thursday, January 25, 2018 at 10:00 a.m. at Akerman LLP, offices of Mike Williams, Esq., FL SAFE Counsel, CNL Center II Building, 420 South Orange Avenue, Suite 1200, Orlando, Florida 32801. Complimentary coffee and breakfast and parking provided at 10:00 a.m. (see attached). Conference Call Number 1-800-201-2375 MEETING OF THE BOARD OF TRUSTEES AGENDA ITEMS Participation Code: 365753# January 25, 2018 1. Call to Order/Roll Call 2. Public Comments 3. Participant and Guest Introductions 4. Approval Prior Board Meeting Minutes – July 27, 2017, September 28, 2017, October 26, 2017 5. Nominations for Board Chair, Vice Chair, Secretary, Treasurer, Advisory Council Liaison 6. Investment Advisor/Operations Manager Update - PMA (a) Economic and Market Update (b) FL SAFE LGIP Portfolio Update Comparative Market Review (c) Operations Manager Report (d) Board Ratification of Term Series (e) Update FL SAFE Variable NAV Fund, Future Term Series (f) PMA Comments 7. Administrator Update- FMAS (a) Ten Year Anniversary, 2018 Objectives (b) Fee Waiver Review/Update (c) FMAS Comments 8. FLSAFE Counsel’s Comments 9. Participants’ Comments 10. Advisory Committee Members’ Comments 11. Board Members’ Comments SET NEXT MEETING DATE/ ADJOURNMENT 1. Future meeting dates: April 2018, July 2018, October 2018 I look forward to discussing the items during the meeting. In the meantime, if you have any questions, please do not hesitate to contact either Jeff Larson, FLSAFE Administrator at (407) 496-1597, jlarson@floridamanagementservices.com or me at (954) 597-3550. Very truly yours, /S/ Mark C. Mason, CPA _____________________________ Mark C. Mason, CPA, Chairman