Police Pension Minutes 2011 05-10-11 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville,IL 60560
(630) 553-4340
5:OOPM on May 10, 2011
Police Department Conference Room
Minutes
Attachments
Meeting Minutes for February 08, 2011
Monthly Treasurer's Report as of April 30, 2011
Annual Treasurer's Report for Fiscal Year 2010-2011
Annual Pension Board Budget
Required Report to the Municipality by the Pension Board
New Partnership of Collins & Radja
Bills for Payment
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Meeting Call to Order: By President Overmyer 5:07pm
Roll Call: Present: Mr. DuSell, Mr. Powell, Chief Hart, Mr. Sibenaller, Mr. Overmyer
Guests: Larry DeBord, Dwight Ower, Bill Yocius of Mitchell, Vaught &Taylor, Atty. Cary
Collins
Previous Meeting Minutes: February 08, 2011
Corrections/Approval: None Motion to Approve: Mr. Sibenaller; 2nd Chief Hart Ayes 4 Nays 0
Communications: Letter attached indicating the new partnership of Collins &Radja between Cary J. Collins
and Thomas S. Radja, Jr. located at 1710 White Oak Lane, Hoffinan Estates, IL 60192, (847) 519-0010 Fax:
(847) 519-0016.
Discussion on Actuarial Interrogatories issued by Illinois Department of Insurance. Treasurer
Powell emphasized privacy care when destroying this document.
Detective Steven Bozue will resign as of June 15, 2011. A letter defining his options for
disbursement of pension contributions will be given to him.
Monthly Treasurer's Report: as of April 30, 2011: Present balance: $4,217,622.36
Motion to Approve: Mr. DuSell 2nd Mr. Sibenaller Ayes 4 Nays 0
Annual Treasurer's Report for Fiscal Year 2010-2011:
May 1, 2010 Balance: $3,645,473.42, Fiscal 2010-11 Expenses: $361,269.47
April 30, 2011 Balance: $4,217,622.36
Motion to Approve: Mr. Sibenaller 2nd Mr. DuSell Ayes 4 Nays 0
Annual Pension Board Budget:
Tax Levy: $ 375,000.00
Employee Contributions: $ 177,000.00
Expenditures: $ 367,800.00
Motion to Approve: Mr. Sibenaller 2nd Chief Hart Ayes 4 Nays 0
`Required Report to the Municipality by the Pension Board
Motion to Approve: Mr DuSell 2nd Mr. Sibenaller Ayes 4 Nays 0
Bills for Payment:
Cary Collins: Attorney $ 750.00
MVT Management Fee: (Apr—June 2011) $ 4610.00
From Schwab Acct: 3137-9036
Zabinski Consulting Services Inc $ 850.00
Zabinski Consulting Services Inc IDOI $ 1250.00 payable upon completion
William Powell $ 337.50
Wolf and Co. (Accounting) $ 2250.00 payable to United City of Yorkville
Tim Sharp (Actuary) $ 1500.00
Total Bills for Payment: $11547.50
Motion to Approve:Mr DuSell 2nd Mr Sibenaller Ayes 4 Nays 0
Investments:
Progress Reports from Mitchell, Vaught, and Taylor
Money transfers from YNB to Charles Schwab & Co
Pay to: Charles Schwab & Co.
Mail to: Institutional Client Service Group
P. O. Box 628290
Orlando, F132862-9906
The 1St Quarter report results were reviewed.
Investment gains (after fees ) for the 1St Quarter of 2011 were $ 89,910.00
Investment gains ( after fees ) since Marh 31, 2006 were$ 880,712.00
Mitchell, Vaught, and Taylor submitteda copy of the Advanced Discloser Document for information.
Additional information about MVT may be found at www.adviserinfo.see.gov under
sec/investors/manager/Mitchell Vaught and Taylor.
No transfers were made since the last meeting on Feb , 2011.
Unfinished Business:
Status of IDOI Filing (Handout of Interrogatories - Board Members Only)
Retirement of Sergeant Barry Groesch: Retired 2/15/11 Pension 2/16/11
Lt. Don Schwartzkopf military service time buyback
Motion to Approve: Chief Hart 2nd Mr. DuSell Ayes 4 Nays 0 pending verification of
calculation with assistance from Treasurer Powell
New Business:
Election of Active Board Members: terms expire in 2012
Election of Retired Board Members: term expires in 2012
Appointment of Board Members Fred DuSell: term to expire in 2013.
Election of Board Officers: Open Meetings Act Administrator: to be set for August Agenda
Security Administrator: to be set for August Agenda
FOIA Administrator: to be set for August Agenda
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Additional Business:
Records retention guidelines-FOIA requests should be directed to Atty. Collins
Discussion on hiring clerk to maintain files, and offsite
storage of records. All personnel records should be kept on site.
Next meeting: Revised to Aug 10, 2011 from August 9, 2011
Motion to Adjourn: Mr. DuSell 2nd Chief Hart Ayes 4 Nays 0 Adjournment 6:21 p.m.
2011 Meeting Dates: Feb 08, May 09, Aug 10, Nov 08
file :Agenda May 9, 2011.doc
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