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Police Pension Packet 2010 08-10-10 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, I160560 (630) 553-4340 S:OOPM on August 10,2010 Police Department Conference Room Agenda Meeting Call to Order: Roll Call: Previous Meeting Minutes: May 10, 2010 Communications: Solicitation from Goldstein and Associates for 2008 Pension Code Book Monthly Treasurer's Report: as of July 31, 2010 Bills for Payment: Return of contributions to Jacob Bledsoe $19,392.19 Reimbursement for required training: Rich Hart: Meals $ 104.06 United City of Yorkville: Training $ 217.28 Illinois Public Pension Advisory Committee: Ethics Training $ 447.00 MVT management fees: From Schwab#3137-9036 $ 3,959.00 Cary Collins: Attorney(July-Sep 10) $ 650.00 Kelly Zabinski 2010 AccountingBookkepping $ 1,200.00 William Powell $ 162.50 Total Bills for Payment: $26,132.03 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 Unfinished Business: SB 1974: Annual Training Documentation for Pension Board Trustees Todd Overmeyer, Rich Hart, and Ray Mikolasek completed 8 hours of mandatory ethics training. House Bill 4603: Creditable Service: Buyback Letters for file. Officer Mikolasek to follow up. Pension Payment Adjustments: Mr. Sibenaller, Mr. Diederich, and Mr. Martin's ratification July 2010. New Business: Discussion of Officer's duties Additional Business: Cary Collins: Legal explanation of United City of Yorkville Pension reform resolution Next meeting: November 9,2010 Motion to Adjourn: Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville,I160560 (630) 553-4340 5:OOPM on May 10,2010 Police Department Conference Room Draft Minutes Attachments: Meeting Minutes for Feb 9, 2010 Monthly Treasurer's Report as of April 30,2010 Bills for Payment ---------------------------------------------------------------------------------------------------------------------------------- Meeting Call to Order: Meeting called to order 5:05 by Todd Overmyer Roll Call: Present: Mr.Overmyer, Chief Hart,Mr. DuSell,Mr.Powell,Mr. Sibenaller, Officer Mikolasek Guests: Mr. Ower,Mr.DeBord,Ms. Zabinski,Attorney Collins Election of Trustees 2 year term-Active Officers: Chief Hart, and Officer Mikolasek were elected 2 year term Retired Members: Greg Sibenaller was elected Motion to approve Election results: Mr. Overmyer 2nd.Mr.DuSell Ayes 5 Nays 0 Election of Board Officers:President Chief Hart nominated Mr. Overmyer Ayes 5 Nays 0 Vice President Mr. Sibenaller nominated Chief Hart Ayes 5 Nays 0 Secretary Mr. Overmyer nominated Officer Mikolasek Ayes 5 Nays 0 Asst. Secretary Mr. Sibenaller nominated Mr.DuSell Ayes 5 Nays 0 Previous Meeting Minutes: Feb 9,2009 Corrections/Approval Motion to Approve: Mr Sibenaller 2nd Mr. DuSell Ayes 5 Nays 0 Communications: No funds were transferred from checking to the Schwab account since Feb 9,2010 Monthly Treasurer's Report: as of April 30, 2010 Motion to Approve: Mr. Sibenaller 2nd Mr.DuSell Bills for Payment: Return of Contributions: Jordan Poulos $14,282.08 Illinois State Compliance Fee $ 551.82 MVT management fees: From Schwab#3137-9036 (April) $4,063.00 Cary Collins:Attorney(Oct-Dec 09) $ 650.00 Actuary Study Ending 4/30/2010 $ 1,500.00 Zabinski Consulting Services $ 400.00 William Powell $ 587.50 Total Bills for Payment: $22,034.40 Motion to Approve: Mr Sibenaller 2nd Chief Hart Ayes 5 Nays 0 Investments: Discussion on raising minimum balance at Old Second Bank from$40,000 to $60,000 to accommodate Motion to increase to $60,000: Mr. Sibenaller 2nd. Chief Hart Ayes 5 Nays 0 Discussion on Charles Schwab transfers noting that wire transfers incur a$25 fee,whereas electronic transfers are free. Motion to authorize Chief Hart on Schwab Account: Mr Overmyer 2nd. Mr.DuSell Ayes 5 Nays 0 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 Progress Reports from Mitchell,Vaught, and Taylor Unfinished Business: Improving the IDOI Filing Process: Motion to approve proposal from Zabinski Consulting Services: Chief Hart 2nd. Mr. Sibenaller Ayes 5 Nays 0 Motion by Mr Sibenaller 2nd Mr DuSell to adopt Resolution for Administration of Investment/ Bank Accounts authorizing Mr Powell and Chief Hart on the Accounts SB 1974: Annual Training Documentation for Pension Board Trustees Discussion on training reimbursement of.50 per mile travel allowance, and$35 per day per diem for required trustee training House Bill 4603: Creditable Service: Buyback Letters for file. Officer Mikolasek to include in employee files. Discussion of the Investment Policy and the Rules and Regulations: Motion to adopt new Policy as presented by Attorney Collins made by Mr. Sibenaller 2nd Mr. DuSell Ayes 5 Nays 0 Record Retention: Discussion on approving the services of a clerk to assist with minutes and filing at a of $20.00 per hour Motion: Mr Overmyer 2nd Chief Hart Ayes 5 Nays 0 New Business: Retirement of Glen Calvert W. Sibenaller's pension payout was prepaid 1 month early, and N,-.11 be re-G Y VreLL upon his flinal payment Additional Business: Pension Payment Adjustments: Mr. Sibenaller, Mr. Diederich, and Mr. Martin's to be ratified in July. Next meeting:Aug 10, 2010 Motion to Adjourn: at 6:43 p.m. Mr. DuSell 2nd Chief Hart Year 2010 Meeting Dates: Feb 10, May 11, Aug 10,Nov 9 file:Police\agenda\agenda May 10 2010.doc United City of Yorkville J� 0 800 Game Frame Road $ Yorkville,Illinois 60560 EST. �1 = 1836 Phone 630-553-1887 William Powell Fax: 630-553-7575 Treasurer E Treasurer's Report (As of July 31, 2010) Dollars Percent Cash: YNB (1) 24,529.06 Schwab 44 643.00 Total Cash: $69,172.06 1.9% Schwab: Fixed Securities: 1,979,688.00 55.0% Equities: (2) 1,553,250.00 43 1% Total Assets: $ 3,602,110.06 100.0% Estimated monthly deposits: $16,000.00 Estimated monthly retiree payments: $23,000.00 William Powell Treasurer United City of Yorkville File:T Report 073110.doc (1) The board has established a$60,000.00 minimum balance (2) The maximum equity percent is 45 %by statue Law Offices of Cary J. Collins, P.C. Invoice 2200 West Higgins Road Suite 155 Hoffman Estates, IL 60169 Date Invoice# Telephone 847-519-0010 Fax 847-519-0016 6/15/2010 5312 Bill To Yorkville Police Pension Board Atten:Bill Powell 804 Game Farm Road Yorkville IL 60560 Terms Due on receipt Description Amount Quarterly retainer for the months of 650.00 JULY,AUGUST&SEPTEMBER,2010 Total $650.00 Please make checks payable to the LAW OFFICES OF CARY J. COLLINS Payments/Credits $0.00 Balance Due $650.00 Zabinski Consulting Services, Inc. Invoice P.O. Box 6534 Aurora, IL 60598-6534 Invoice M 817 Invoice Date: 7/24/2010 Due Date: 8/23/2010 Bill To: Yorkville Police Pension Fund Attn: Mr.William Powell 804 Gamefarm Road Yorkville, 1 60560 Description Amount Monthly Accounting/Bookkeeping Services for the Months of 400.00 August, September, and October, 2009. Monthly Accounting/Bookkeeping Services for the Months of 400.00 November and December, 2009, and January,2010. Monthly Accounting/Bookkeeping Services for the Months of 400.00 February, March, and April, 2010. Total $1,200.00 Phone# Payments/Credits $0.00 (630)939-7668 Balance Due $1,200.00 Mitchell, aug ` a for Inc. Investment .advisors 53 W.Jackson Suite 905 Chicago,IL 60604 312-922-1717 phone 312-922-1772 fax July 1, 2010 Statement for Third Quarter 2010 For Services Rendered To: Yorkville Police Pension Fund 800 Game Farm Road Yorkville,IL 60560 Investment Management Fee Third Quarter 2010 July 1,2010 through September 30,2010 June 30,2010 Portfolio Value: $3,459,009.06 Quarterly Fee First$2 Million at 0.50% _ $2,500.00 Next$3 Million at 0.40% _ $1,459.01 Total Fee: $3,959 Allocate bill to individuals within group: Name Acct. Number Portfolio Value Bill Amount Yorkville Police Bonds 3137-9036 $2,007,629.63 $2,298 Yorkville Police Equities 3139-4036 $1,451,379.43 $1,661 Account 3137-9036 at Charles Schwab & Co., Inc. has been charged$3,959. Charles Schwab &Co., Inc., as custodian,makes no independent verification of the calculation of the billing amount, which is the client's reponsibility. L., Ca o�• ti oQ f Paliice Pei lion Accounting Services Up Ida#e. Activity. :Hours Z L J 4f sJ. �/ .w 1,0 AS.4,L-nol Ar O sly 41 �' to. c e�ttt s a+ e Po oLo f o Ic. L4 �Q 1a IS g 1•+ACa O t41rL- A> L T-A,, V kxA"r. l4 G .f. �b tt L• 1�,�' n. Co AsT Fu C o H t tMI—) 0 A Fro A.L cU im A L Co P, /4 o CIAO P ®e� CrA(�c.dZ1A .d at ,4 F!rr A-6 n- — L 6 4/i++G Ga !n/ ✓,'LANG e ,tit 2, R ,°0 Lr 46 C� N A -r E & ",T- i7� 6 8 ,Sb iv t o ytE�T /k S 6- X.I x. U E ` ` E Agenda, Meeting Mintues Employee contributions, YNB Bank, Merrill Lynch data entry Quarterly member contributions letters State of Illinois intemet filing for fiscal year end file: Police Pension Time Log.xls r.•:;::;. 'f.> } >� ` '�:> „r� P ar-A-Dice Hotel and Casino 7 Black ack Blvd. East Peoria IL 61611 For Reservations call 800 547-0711 Name:RICHARD 2/2 HART Folio ID: 4 03 164 97 93 67 Arrival Date: 05/18/2010 Address: 804 GAME FARM RD Departure Date: 05/19/2010 ROOM No: PD 604 YORKVILLE IL 605601133 Guests: 1 Group Code: 0518IP DATE REFERENCE DESCRIPTION CHARGES BALANCE 05/18/2010 403159000120 ROOM CHARGE PD 604 97. 00 TAX2 11. 64 05/19/2010 403 164 9802 14 FD VISA 108.64- ************7932 SUMMARY OF CHARGES ROOMS 97. 00 TAX2 11. 64 Balance Due: Check Out:WILLIAMSR page: 1 Please call (800) 727-2342 For Billing Information or Inquiries Thant: You For Choosing Par-A-Dice Hotel and Casino. f:'..< 3w.G; :h:�::< # .:. � .:.:.� Par-A-Dice Hotel and Casino r ' 7 Blackjack Blvd. � East Peoria IL 61611 For Reservations call (800) 547-0711 Name:RICHARD 1/2 HART Folio ID: 403164979390 Arrival Date: 05,/18/2010 Address: 804 GAME FARM RD Departure Date: 05/19/2010 Room No: PD 613 YORKVILLE IL 605601133 Guests: 1 Group Code: 0518IP DATE REFERENCE DESCRIPTION CHARGES BALANCE 05/18/2010 403159000129 ROOM CHARGE PD 613 97.00 TAX2 11.64 05/19/2010 403164980212 FD VISA 108 .64- ************7932 SUMMARY OF CHARGES ROOMS 97.00 TAX2 11.64 Balance Due: Check Out:WILLIAMSR page: 1 Please call (800) 727-2342 For Billing Information or Inquiries Thank You For Choosing Par-A-Dice Hotel and Casino. ILLINOIS PUBLIC PENSION ADVISORY COMMITTEE 2200 WEST HIGGINS ROAD,SUITE 155 HOFFMAN ESTATES,ILLINOIS 60169 TELEPHONE: (847)519-1648 FACSIMILE: (847)519-0016 INVOICE June 1, 2010 Yorkville Police Pension 804 Game Farm Road Yorkville, IL 60560 IPPAC Spring Seminar& Ethics Training Registration Richard Hart: Ethics Training $149.00 Raymond Mikowlasek: Ethics Training $149.00 Todd Overmeyer Ethics Training $149.00 TOTAL DUE: $447.00 Please make checks payable to: Illinois Public Pension Advisory Committee Thank you Vl) p- IV 5".. Ll E-- ej 3 r-n 4:1 U. 1=2 -�c CLI -2 t; III r-JI I v,.n fo 0.1 ..-I .'T: Ld =V. C-1