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Police Pension Fund Packet 2007 08-14-07 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, 11 60560 (630) 553-4340 AGENDA 5 :OOPM on Aug 14, 2007 Police Department Conference Room Meeting Call to Order: Roll Call: Previous Meeting Minutes: Corrections/Approval June 12, 2007 Communications: Treasurer's Report: Bills for Payment: IDOI Fee: $316.60 Zabinski Consulting: $ 1000.00 Tim Sharp: $ 1300.00 Cary Collins: $ Bill Powell $ Investments: Progress Reports from Mitchell, Vaught, and Taylor Money transfers from YNB to Charles Schwab & Co Pay to: Charles Schwab & Co, Mail to: Mitchell, Vaught, and Taylor Inc Attn: Emily 124 South Webster Suite 202 Naperville, IL 60540 Unfinished Business: Andrew Jeleniewski IMRF transfer statement. Glen Calvert: Service date calculation IDOI Annual Report filing New Business: Election of Board members and Officers Request for pension fund refund for Jeff Ackland Pension Application for Officers Bledsoe, Poulos, and Carlyle Additional Business: Fiscal Analysis of Illinois Pensions Adjournment: Next Meeting: 11 /13/07 @ 5PM Yorkville Police Pension Fund Board Yorkville Police Department 804 Game Farm Road Yorkville, Illinois 60560 (630) 553 -4340 Meeting called to order: 06/12/07 17:07 hrs. Roll call : President Larry Debord present, Vice President Todd Overmeyer present, Treasurer William Powell absent, Secretary Dan Pleckham present, Chief Harold Martin present, Retiree Greg Sibenaller absent . Guests Emily Dotson Mitchell Vaught and Taylor, Denise Kasper City of Yorkville. Previous minutes: Motion made to accept minutes as they are, L.D.., 2"' H.,M. (passed) Communications: Denise Kasper reviewed the payment structure for the new retiree's payment. This policy was submitted to all members in attendance and reviewed. Brief synopsis of policy is as follows: Retiree's will have the option for insurance coverage through the City. Payment to retiree's will be the last Friday of the month. Retiree's have received payments for May and June 2007 and the payout will be 1 month in advance. Direct deposit policy has been implemented. The 954 tax will be taken from the pensioners payment. Denise will mail copies of this program to retiree's. Denise then exited the meeting, Emily Dotson gave out to all members of the board a statement booklet outlining the investment which we are allocated for.. A brief overview of that booklet is as follows: Tab2 : Through end of May Equities have done well, up 9% to approx. $36,000 dollars and the total gain since inception is approx. $ 100,000 dollars. Our portfolio is in a lower risk more conservative strategy with stocks and international stocks doing very well. Emily recommended an increase from 25% to 30% diversity. Sudan restrictions will possibly come back into effect. Tab 3 : Tracking a standard index/ benchmark we have been performing around 7%. Our portfolio is performing well and is doing what the index is doing but, bonds are not doing as well. Tab 4: International stocks are performing better than domestic stocks Tab 5 : Fund yield curve shows that our fund is following a normal yield curve where we get " more bang for our buck" with short term securities. Tab 6: Portfolio statement shows growth up with securities along with bonds and stocks having an overall value of 62, 130,000 dollars, breakdown as follows: 25% International stocks 7% Real estate 66% Domestic stocks Emily recommends a boost in growth and international funds and continued by stating that we are well funded with only 2 retiree's and are a growing community. Emily then exited the meeting. Communications : Election of board officers to be held next month due to absence of a board member. Treasurers report: Unavailable Unfinished business: IDOI results from actuary Tim Sharp. Bill Powell is working on and will be presented at next meeting New Business: Election of board members. Chief Martin and Officer Pleckham were re-elected to the board again by default due to the fact no one else submitted names for election. Adjournment: 1810 hrs, *,cep C/; y United City of Yorkville 800 Game Frame Road Yorkville, Illinois 60560 ESi. ^� 1836 Phone 630-553-1887 William Powell - Fax: 630-553-7575 Treasurer o ®n ; � w n%G <LE Treasurer's Report (As of July 31 , 2007) Dollars Percent Cash: YNB 36,047.42 Schwab 117 585.41 Total Cash: $ 153432.83 7. 1 % Schwab: Fixed Securities: 1 ,789,891 .86 82,9% Equities: 215.722.87 10.0% Total Assets: $ 21159,247.56 Employee Contributions YTD: $45,591 .53 2005 Tax Levy Estimate: (paid in 2007) $2757000.00 1y'el ., William Powell Treasurer United City of Yorkville File: r Report 073107,doe United City of Yorkville T 800 G<une Rum Load j Yorlc\ ille, Illinois 60560 Phone 630-553-4.350 Fax , 630-553 -7575 William Powell Treasurer To Police Pension Board City Council United City of Yorkville Subject. Annual Police Pension Fund Activity for Fiscal Year May 1 , 2006 to April 30, 2007 (As required by Illinois State Statue 40ILCS 5/3 — 141) Beginning Balance as of May 1 , 2006 . 1 ,574,459 .32 As of April 30, 2006. Old Second Bank : 96,792 38 Schwab (MVT): 2,041 ,538. 81 Fiscal Year End Balance. 211382331 19 Total Investment Income, 111 ,450 00 Contributions. Fiscal 06-07(Act) Fiscal 07-08(Est) Employees. 154,442 .45 200,000 .00 IIv1RF Transfers 46, 172 00 000 Tax Levy . 248,987 . 74 275,000 00 Expenses Paid. Supplies: 000 10000 Legal Fees. 1 ,200 ,00 .3,600 00 Accounting /Minutes 86000 1 ,200. 00 Audit Fees: 000 2,000 00 IDOI Filing Fees. 0 .00 1,200. 00 Actuarial Fees: 000 1 , 500 00 Investment Fees: 8,266 00 10,000 00 IDOI Annual Compliance Fees 225 .95 25000 Retirement Payments 0.00 120,000.00 Total Expenses D 1M551 95 1397850 00 Submitted by. v / � ' i ' ar r 'owel Inited City of Yorkville Treasurer Approved. _ L, eb rd . reside t D e cIt m : Se —_ Annual pension stmtF2006 doe Police Pension Accounting Services Log for Fiscal 2005 2006 Date Activity n Hours " 07 L> A'T� . G .. � eQan...± N L1J' i. 1'o N. :..: , 6e 6 4 ' krt,4 i ti tJ:cT L= w � t_ E , s. { c -+ Li:fl '� fk . E e r cr F o c r c e Ld ZZ lu 1 ZvG O .�S Ca /ti-C• •. S +.� � b x`1.0 lL }' � ✓0 A-.1 {' F'"c rte{ -r-- � �� .L7 W C Al C A)�'L� A ! C.. r o G) "f, C M A t L- 4&111 To 4 C I 3n.t r i fi�rn.•Lr a lrr - a 71 -5 EMAIL A . , .JSLR ON A Cc .,/LJ 4C. 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