FLORIDA SURPLUS ASSET FUND TRUST 10151 University Blvd., #227, Orlando, Florida 32817 Board of Trustees July 27, 2017 Florida Surplus Asset Fund Trust AGENDA This meeting of the Board of Trustees for Florida Surplus Asset Fund Trust will be held on Thursday, July 27, 2017 at 1:00 p.m.. at City of Oviedo, Cultural Center, 357 Center Lake Lane, Oviedo FL 32765. Complimentary lunch will be provided at 11:00 a.m., followed by a Board Workshop at 11:30 a.m. Conference Call Number 1-800-201-2375 Participation Code: 365753# MEETING OF THE BOARD OF TRUSTEES A. BUSINESS ITEMS 1. Call to Order/Roll Call 2. Public Comments 3. Approval Prior Board Meeting Minutes (a) April 27, 2017 4. Participant and Guest Introductions 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 May, June, and July 2017 Term Series (e) Update on Fee Waivers, Revenue Recognition Policy (f) PMA Comments, Marketing efforts, Conferences 2. Administrator Update- FMAS (a) Marketing Update, Presentations (b) Update on Conferences (FCCMA, FGFOA, FGFOA School) (c) Update Board D&O Policy FMAS and PMA E&O Policies (d) Board Direction following Workshop, Revenue Recognition Policy (e) FMAS Comments 3. FLSAFE Counsel’s Comments 4. Participants’ Comments 5. Advisory Committee Comments 6. Board Members’ Comments C. SET NEXT MEETING DATE/ ADJOURNMENT 1. Future meeting dates: October 26, 2017 (Inverness), January 2018 (TBD) 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, Chairm