FLORIDA SURPLUS ASSET FUND TRUST 10151 University Blvd., #227, Orlando, Florida 32817 Board of Trustees October 20, 2016 Florida Surplus Asset Fund Trust AGENDA- REGULAR ELECTION MEETING OF PARTICIPANTS This meeting of the Board of Trustees and Participants for Florida Surplus Asset Fund Trust will be held on Thursday, October 20, 2016 at 12:00 p.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 early lunch and parking provided at 11:00 a.m. (see attached). 11:30 a.m. Economic/Market Update. Conference Call Number 1-800-201-2375 Participation Code: 365753# MEETING OF THE BOARD OF TRUSTEES - BOARD OF PARTICIPANTS A. BUSINESS ITEMS 1. Call to Order/ Roll Call 2. Public Comments 3. Results of Board Seat Elections- Board Vice Chair- Administrator 4. Approval Prior Board Meeting Minutes (a) July 28, 2016 5. Participant and Guest Introductions 6. Approval of 2017 Budget- FMAS- PMA 7. FLSAFE Auditor Engagement- Clifton Larson Allen B. OTHER ITEMS 1. Investment Advisor/Operations Manager Update - PMA (a) Economic and Market Update (b) FLSAFE LGIP Portfolio Update; Comparative Market Review (c) Operations Manager Report (d) Board Ratification of Term Series (e) Update- December 2016 Term Series (f) PMA Comments 2. Administrator Update- FMAS (a) Marketing Update, Presentations (b) Upcoming Conferences (FGFOA, FCCMA, FGFOA School, FGFOA Chapters) (c) FMAS Comments 3. FLSAFE Counsel’s Comments 4. Participants’ Comments 5. Board Members’ Comments C. SET NEXT MEETING DATE/ ADJOURNMENT 1. Future meeting dates: January 26, 2017; April 2017; July 2017; October 2017 I look forward to seeing you in 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