Board of Trustees July 23, 2015 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 23, 2015 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). 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. Board Appointment – Open Board Seat 3. Public Comments 4. Approval Prior Board Meeting Minutes (a) April 23, 2015 5. 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) PMA Comments 2. Administrator Update- FMAS (a) Marketing Update, Update on FGFOA, FCCMA Conferences (b) Upcoming Presentations, October Investment Seminar (c) Update Board on E&O Insurance, FMAS, PMA Policies (d) FMAS Comments 3. FLSAFE Counsel’s Comments 4. Participants’ Comments 5. Board Members’ Comments C. SET NEXT MEETING DATE/ ADJOURNMENT 1. Future meeting dates: October 23, 2015; January 28, 2016 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