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Police Pension Packet 2013 02-12-13 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, IL 60560 (630) 553-4340 5:OOPM on February 12,2013 Police Department Conference Room Agenda Attachments: Meeting Minutes for November 13, 2012 President/Secretary to sign Monthly Treasurer's Report as of January 31,2013 Bills for Payment --------------------------------------------------------------------------------------------------------------------------------- Meeting Call to Order: Roll Call: Present: Guests: Previous Meeting Minutes: November 13,2012 Corrections/Approval Motion to Approve: Communications: Transfer of funds from Old Second Checking to Schwab. U.S Census Survey completed and submitted online. Monthly Treasurer's Report: as of January 31, 2013 Motion to Approve: Bills for Payment: MVT Management Fee: (Jan—Mar 2013) $ 4,528.00 From Schwab Acct: 3137-9036 Zabinski Consulting Services (Jul-Sep) $ 475.00 Zabinski Consulting Services (Oct-Dec) $ 475.00 Zabinski Consulting Services (IDOI Filing Fee) $ 1,300.00 IPPAC Winter Seminar Training (Ryan Goldsmith& ToddOvermyer) $ 100.00 Collins and Radja: Attorney $ 750.00 Total Bills for Payment: $ 7,628.00 Motion to Approve: Investments: Progress Reports from Mitchell,Vaught, and Taylor Money transfers from Old Second Bank to Charles Schwab&Co Pay to: Charles Schwab&Co. Mail to: Institutional Client Service Group P. O. Box 628290 Orlando, F132862-9906 Unfinished Business: New Business: Resignation of William Powell as Treasurer Appointment of Rob Fredrickson to position of Treasurer Change authorized signers on accounts from William Powell to Rob Fredrickson Discussion to consider moving checking account from Old Second Bank to Castle Bank Personnel Changes and Additions: New Hire: Matthew Nelson 12-17-12 Additional Business: Next meeting: May 13, 2013 5:OOpm Motion to Adjourn: 2013 meeting dates: Feb 12,May 13 (Monday),Aug 13,Nov 12 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, IL 60560 (630) 553-4340 5:OOPM on November 13,2012 Police Department Conference Room Minutes Attachments: Meeting Minutes for August 14,2012 Monthly Treasurer's Report as of October 31,2012 Bills for Payment --------------------------------------------------------------------------------------------------------------------------------- Meeting Call to Order: By President Overmyer at 5:05 p.m. Roll Call: Present: Mr Overmyer,Mr Mikolasek,Mr Goldsmith,Mr Sibenaller,Mr DuSell Guests: Atty Tom Radja,Mr Bill Yocius of Mitchell Vaught and Taylor,Mr Larry De Bord Previous Meeting Minutes: August 14, 2012 Corrections/Approval Motion to Approve: Mr DuSell, 2nd: Mr Sibenaller Ayes 5 Nay 0 Communications: Funds transferred from the last meeting. Transfer of funds from Old Second Checking$175,000 to Schwab. Motion to Approve: Mr Mikolasek 2nd: Mr Sibenaller Ayes 5 Nay 0 by roll call vote Monthly Treasurer's Report: as of October 31,2012 Motion to Approve: Mr Sibenaller, 2nd: Mr DuSell Aye 5 Nay 0 Bills for Payment: Collins and Radja: Attorney $ 750.00 MVT Management Fee: (Oct—Dec 2012) $ 5,158.00 From Schwab Acct: 3137-9036 United City of Yorkville(10-99R forms) $ 11.00 United City of Yorkville(Audit Reimburse) $ 2,500.00 Tim Sharp: Actuary $ 1,700.00 William Powell $ 62.50 Total Bills for Payment: $10,181.50 Motion to Approve: Mr DuSell 2nd: Mr Sibenaller Ayes 5 Nay 0 by roll call vote Investments: Progress Reports from Mitchell,Vaught, and Taylor Money transfers from YNB to Charles Schwab & Co Pay to: Charles Schwab&Co. Mail to: Institutional Client Service Group P. O. Box 628290 Orlando, F132862-9906 Mr Yocius gave investment presentation showing a net investment gain of$ 1,144,394.00 for the fund, for a net return of 5.35% Beginning value was $4,386,806. Ending value was $4,659,706. Unfinished Business: Mr Radja submitted revised beneficiary form for review. New Business: Change in minimum balance in Old Second Checking.: $75,000 to $80,000. Board approval required. Motion to Approve: Mr Mikolasek, 2nd: Mr Sibenaller Ayes 5 Nay 0 By roll call vote Personnel Changes and Additions: Retirement: Deputy Chief Donald Schwartzkopf 10-19-12 Motion to Approve: Mr DuSell 2nd: Mr Goldsmith Ayes 5 Nay 0 New Hire: Stephen Klett 09-17-12 Motion to Accept into Tier 2 Fund: Mr Mikolasek 2nd: Mr Sibenaller Ayes 5 Nay 0 Additional Business: Motion to submit tax levy request to City of Yorkville of$579,424.00 based on 7%Investment return and 5.5% salary increase per actuarial report : Mr Sibenaller, 2nd: Mr DuSell Ayes 5 Nay by roll call vote. Set 2013 meeting dates: Feb 12,May 13 (Monday),Aug 13, Nov 12 Motion to approve : Mr Mikolasek, 2nd: Mr DuSell Ayes 5 Nay 0 Next meeting: February 12,2013 Motion to Adjourn: Mr DuSell, 2nd: Mr Sibenaller Ayes 5 Nay 0. Adjournment at 5:48 p.m. President Secretary .A.,Ev c jT J United City of Yorkville O 800 Game Frame Road Yorkville, Illinois 60560 EST. 1636 Phone 630-553-1887 Fax: 630-553-7575 O ` O Treasurer's Report (As of January 31, 2013) Dollars Percent Cash: Old Second(1) 189,113 Schwab 279,204 Total Cash: $468,317 9.43% Schwab: Fixed Income Securities: 2,284,651 45.99% Equities: 2) 2,214,693 44.58% Total Investments $4,499,344 Total Cash&Investments: $4,967,661 100.00% Estimated monthly deposits: $15,000 Estimated monthly retiree payments: $35,000 Rob Fredrickson Deputy Treasurer United City of Yorkville (1) The board has established a$75,000 minimum balance (2) The maximum equity percent is 45%by statue Mitchell , Vaught 53 \\pest Jackson Boulevard Suite 905 a avl o r Inc Chicago, IL 60604 312-922-1717 (phone) Investment Advisors : 312-922-1772 (fix) January 3, 2013 Yorkville Police Pension Fund 800 Game Farm Road' Yorkville, IL 60560 RE: Updated Billing Statement Enclosed please find the First Quarter 2013 bill and a Portfolio Statement as of December 31, 2012. Please note: the total bill amount for the First Quarter is $5185 however due to an error in entering the 4th Quarter 2012 bill amount your account has been charged $4528, applying a credit of $657, We apologize for this error and if you have any questions please let us know. Sincerely, Emily Agosto Enclosures i I i I I Mitchell , Vaught Tavlor Inc . Investment Advisors 53 W. Jackson Suite 905 Chicago, IL 60604 312-922-1717 phone 312-922-1772 fax January 2, 2013 Statement for First Quarter 2013 For Setvices Rendered To: Yorkville Police Pension Fund 800 Game Farm Road Yorkville. IL 60560 Investment Management Fee First Quarter 2013 January 1, 2013 through March 31, 2013 December 31, 2012 Portfolio Value: $4,685,263.32 Quarterly Fee: First $2 Million at 0.50% $2,500.00 Next $3 Million at 0.40% $23685.26 Total Fee: $5,185 Account 3137-9036 at Charles Schwab & .Co., Inc. has been charged $5,185. Charles Schwab & Co., Inc., as custodian, makes no independent verification of the calculation of the billing amount, which is the client's reponsibility.` Collins & Radja Invoice 1710 White Oak Lane Date Invoice # Hoffman Estates IL 60192 12/ 17/2012 5989 Bill To Yorkville Police Pension Board Atten: Bill Powell 804 Game Farm Road Yorkville IL 60560 Description Amount Quarterly retainer for the months of: 750.00 JANUARY, FEBRUARY AND MARCH, 2013 Total $750.00 Please make checks payable to Collins & Radja, P.C. Payments/Credits $0.00 Balance Due $750.00 Zabinski Consulting Services, Inc. Invoice P.O. Box 472 Itasca, IL 60143-0472 Invoice #: 1504 Invoice Date: 12/31/2012 Due Date: 1/30/2013 Bill To: Yorkville Police Pension Fund Attn: Mr. William Powell 804 Gamefarm Road Yorkville, IL 60560 Description Amount Final billing for completion of the annual Illinois Division of Insurance filing for the fiscal 1 $ 00.00 year ended April 30, 2012. Total $1 ,300.00 Phone # E-Mail Payments/Credits $0.00 (630)939-7668 kzabinski @zcsinc.net Balance Due $ 1 , 300.00 Invoice Zabinski Consulting Services, Inc. P.O. Box 472 Itasca, IL 60143-0472 Invoice #: 1509 Invoice Date: 1/27/2013 Due Date: 2/26/2013 Bill To: Yorkville Police Pension Fund Attn: Mr. William Powell 804 Gamefarm Road Yorkville, IL 60560 Description Amount Quarterly billing for accounting services for the months of October, November, and 475.00 December, 2012. Total $475. 00 Phone # E-Mail Payments/Credits $0.00 (630)939-7668 kzabinski @zcsinc.net Balance Due $475 . 00 '� Zabinski Consulting Services, Inc. Invoice J ' P.O. Box 472 Itasca, IL 60143-0472 Invoice 1479 Invoice Date: 11/30/2012 Due Date: 12/30/2012 Bill To: Yorkville Police Pension Fund Attn: Mr. William Powell 804 Gamefarm Road Yorkville, IL 60560 Description Amount Monthly accounting services for the months/quarter ending July, August, September, 475.00 2012. Total $475 .00 Pnone # E-Mail Payments/Credits $0 .00 (630)939-7668 kzabinski @zcsinc.net Balance Due $475.00 Illinois Public Pension Advisory Committee, Inc. Invoice 2200 West Higgins Road Suite 155 Date Invoice # Hoffman Estates, IL 60169 11/9/2012 735 Bill To Yorkville Police Pension Attn: Ray Mikolasek 804 Game Farm Road Yorkville, IL 60560 ' s Phone # Fax # E-mail Web Site (847) 519-1648 (224) 535-8525 ippactoday @yahoo.com www.realippac.com Description Qty Rate Amount December 7 2012 continuing education-member Ryan Goldsmith 50.00 50.00 Please Make Checks Payable to IPPAC FEDERAL TAX ID NO.: 36-4072678 Total $50.00 Illinois Public Pension Advisory Connnittee, Inc. Invoice 2200 West Higgins Road Date In768 Suite 155 Hoffinan Estates, IL 60169 21101to Bill To Yorkville Police Pension Ann: Ray Mikolasek 804 Game Farm Road Yorkville, IL 60560 Phone # Fax # E-mail Web Site (847) 519- 1648 (224) 535-8525 ippactoday @yalhoo.com uww.realippae.com Description Qty Rate Amount December 7 2012 continuing education-member Todd Overmyer l 50.00 50.00 Please Make Checks Payable to IPPAC FEDERAL TAX ID NO. : 36-4072678 Total $50.00