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Police Pension Fund Board Minutes 2006 02-14-06 it Yorkville Police Dept. Pension Bo d 804 Game Farm rd. Yorkville, Illinois 60560 President: Larry Debord Vice President: Todd Overmyer Treasuer: William Powell Secretary : Officer Dan Pleckham Asst. Secretary: Chief Harold Martin ; Meeting Called to Order: 15:45 Hrs. Roll Call: Present Bill Powell, Harold Martin, Larry Debord, Dan Pleckham Atty. Cary Collins, Merrill Lynch Brad Kitchener Previous Minutes read and corrections made for May 10,2005 and Aug. 09, 2005 Communications: Brad Kitchener from Merrill Lynch made mention of account activities and gave out statements to members of the board, IDOI. With Bill Powell, program problem and should be done by the end of the month. Treasurers Report: as of 10/31/05 Cash---------------$284,963.58 Fixed CD's-------$1,001,099.69 Mutual funds-----$111,217.36 Estimated Accrued Interest----$8,989.34 Total (w/rounding)$1,406,269.97 Old Second Checking--------$8063.29 Total Balance----------$1,414,333. Maturing CD's Provident: 11/21/05 $55,000 Georgian: 11/28/05 $95.000 Total: $150,000.00 Total estimated funds for investment: $434,96.3.58 Motion to accept Treasurers report: H.M 2°d D.P. carried Bills for payment: Any. Fees $500.00 4°i quarter Treasurers fees $460.00 for Aug, Sept, Oct. Under unfinished business: review of the Fund Mgt. Firm Leaving Merrill Lynch and hiring Mitchell/Vaught& Walker Motion to accept H.M. 2"d L.D.. carried New Business: IMRF buy back ends Jan.2006 last day for filing will be 12/31/05 Officers effected were advised to submit letter of intent via registered mail Actuarial study for 2005 Tim Sharp was to be hired for the study on a yearly basis. Harold would call and set up contract motion H.M, 2"d L.D. carried Meeting dates set for upcoming year: 02/14/2006 05/09/2006 Motion to adjourn 1735 hrs. H.M. 2"d L.D. carried