Police Pension Fund Packet 2007 11-13-07 Ct Ell lc
Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, 11 60560
(630) 553 -4340 t�lov 13
S:OOPM on , 2008
Police Department Conference Room
Meeting Call to Order.
Roll Call .
Previous Meeting Minutes: Corrections/Approval
Aug 14, 2007
Communications:
Treasurer's Report .
Real Estate Tax Levy check to be received from the City on Nov 13 , 2007 for $ 152, 551 62
Motion to Approve.
Bills for Payment:
WT management fees: $206, 00
From Schwab #3137-9036
(Oct 1 — Dec 31 , 2007)
Cary Collins: $ 600 .00
Bill Powell: $ 475 .00
Motion to Approve.
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
R O Box 628290
Orlando, F1 32862-9906
Unfinished Business.
Glen Calvert: Service date calculation
IDOI Annual Report filing
New Business.
Reimbursement of contributions for Shirley Kubicz
Application for admission to the Yorkville Police Pension for
Scott Fiandale
Tom Grimes
Additional Business.
Fiscal Analysis of Illinois Pensions
2008 Meeting Dates: Tuesdays 2/12, 5/13, 8/12, 11/18 @ 5PM
Adjournment.
Motion to Approve.
2008 Meeting Dates: Tuesdays 2/12, 5/13, 8/12, 11 /18 @ 5PM
file: Police\agendalagenda Nov 13 2007 doc
Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, I160560
(630)553-4340
Meeting Minutes for Nov 13, 2007
Approved :
Attachments:
Minutes: Aug 14, 2007
Treasurer's Report dated Oct 31 , 2007
Revised Annual Police Pension Fund Activity Report for Fiscal Year May 1 , 2006 to April 30, 2007
Reflecting Oct 16, 2007 audit results.
Call to Order: President Debord called the meeting to order at 5 :05 PM.
Members Present: President Debord, Officer Pleckham, and Chief' Martin.
Also present were Treasurer Powell, Glen Calvert, Shirley Kubicz, Attorney Collins,
William Yocius Jr. (MVT)
Absent: Todd Overmeyer, Greg Sibenaller
Previous Meeting Minutes:
A motion was made by Mr. Debord (2"d Chief Martin) to approve the Aug 14, 2007 minutes.
Ayes: 3 Nays: 0
Communications:
A motion was made by Chief Martin (2"d Officer Pleckbam) to approve payment to Shirley Kubicz in
the amount of $ 3690.68 as reimbursement of her contributions to the pension fund.
Ayes: 3 Nays: 0
Treasurer's Report:
The Treasurer's report dated Oct 31 , 2007 was submitted indicating the following funds:
YNB Cash: 1123748.44
Schwab Cash: 35,531 .81
Fixed Securities: 119181828.86
Equities: 232.779.56
Total Balance: 2,2991888.67
A check for 152,551 .62 is expected from the City for R. E. tax levy proceeds tonight.
A motion was made by Mr. Debord (2"d Officer Pleckhani) to accept the Aug 14, 2007 Treasurer's
Report as submitted. Ayes: 3 Nays: 0
A motion was made by Mr. Debord (2"d Officer Pleckham) to transfer $230,000.00 to the Schwab
account 3137-9036 upon receiving the R. E. tax levy check from the City. Ayes: 3 Nays: 0
Letters were issued to the employees indicating their YTD and total contributions as well as total fund
balance as of Oct 31 , 2007.
Bills for Payment:
WT management fees: $2686.00 (from Schwab account #3137-9036)
Cary Collins: $ 600.00 for Oct, Nov. Dec legal services
William Powell: $ 475.00 for bookkeeping services and minutes through 11/13/07,
Total Bills: $ 3,761 . 00
A motion was made by Chief Martin (2"d Officer Pleckhain) to approve bills for payment.
Ayes: 3 Nays 0
Portfolio Review and Investment Action:
William Yocius handed out a Quarterly Report date Oct 13, 2007 and reviewed the results as listed
below.
Portfolio Allocation as of 9/30/07: Fixed Income: 89.7% Equities: 10.3%
Third quarter Investment gain: $61 , 164.00 or 5.07%. The state of the financial market was
discussed. It was mentioned that the pension fund will exceed $2,500,000.00 at which time the percent
of funds that may be invested in equities will increase to 45%. Mr. Powell will watch this and issue a
letter when that figure is exceeded.
A motion was made by Mr. Debord (2"d Officer Pleckham) to authorize MVT to increase the equities
accordingly when the figure is reached.
Ayes: 3 Nays 0
Unfinished Business:
Glen Calvert's Adjusted Service Date: There was a discussion of how to calculate Officer Calvert's
adjusted service date, Attorney Collins will prepare a letter defining Officer Calvert's adjusted service
date.
Mr. Powell stated that the IDOI filing for fiscal 2006- 2007 is completed.
New Business:
Officer Pleckham mentioned that he intends to review the personnel record for completeness after the
first of the year.
A motion was made by Officer Pleckbam (2"d Mr. Debord) to accept the application for admission to the
Yorkville Police Pension fund for Scott Fiandale and Tom Grimes starting 9/14/07. Ayes: 3 Nays 0
Meeting dates for 2008 were established as 2/12/08, 5/13/08, 8/12/08, 11/18/08,
Next Meeting: The next meeting is scheduled for Feb 12, 2008 at 5 :OOPM in the police conference room.
Adjournment: The meeting was adjourned at 6:40 PM
Prepared by: W. Powell file: Police\agendaUniraaes Nov 13 2007.doc
Yorkville )Police Pension Fund Board
804 Game Farm Road
Yorkville, I160560
(630)553-4340
Meeting Minutes for Aug 14, 2007
Approved : Nov 13, 2007
Attachments:
Minutes- June 12, 2007
Treasurer' s Report dated July 31 , 2007
------------° ---- - -------------------------------------- ----------- ----------------------------------- -- -------
Call to Order: President Debord called the meeting to order at 5 05 PM.
Members Present: President Debord, Officer Pleckham, and Chief Martin, Todd Over meyer
Also present were 'Treasurer Powell, Attorney Collins, John Mitchell (MVT)
Previous Meeting Minutes:
A motion was made by Chief Martin (2"d Todd Overmeyer) to approve the June 12, 2007 minutes
Ayes 4 Nays 0
Communications: None
Treasurer' s Report:
The Treasurer's report dated April 30, 2007 was submitted indicating the following funds
YNB Cash- 361047 .42
Schwab Cash: 1171585 .41
Fixed Securities 11789,891 , 86
Equities: 215,722. 87
Total Balance: 2, 1591247, 56
A motion was made by Chief Martin (2"d Mr . Overmeyer) to accept the July 31 , 2007 Treasurer' s
Report as submitted . Ayes: 4 Nays: 0
Letters were issued to the employees indicating their YTD and total contributions as well as total fund
balance as of July 31 , 2007
Bills for Pavment:
IDOI Annual Fee. $ 31660
Zabinski Consulting: $ 1000.00
Tim Sharp . $ 1300 00
Cary Collins. $ 600. 00 for July, Aug, Sept legal services
William Powell . $ 330. 00 for bookkeeping services and minutes
Total Bills: $ 3,654 10
A motion was made by Mr Overmeyer (2"d iblr. Debord) to approve bills for payment .
Ayes. 4 Nays 0
Portfolio Review and Investment Action:
.John Mitchell handed out a Quarterly Report date Aug 14, 2007 and reviewed the results as listed below
Portfolio Allocation as of 6/30/07. Fixed Income: 89. 5% Equities: 10. 5%
Second quarter Investment gain. $5,479 .00 The state of the financial market was discussed
With the expectation of $275,000 00 in Real Estate taxes before the next board meeting in Nov a motion
was made by Chief Martin (2nd Mr. Debord) to transfer up to $200,000. 00 from Old Second Bank to
Schwab Ayes: 4 Nays : 0
It was mentioned that the present payout of funds to the 2 retirees exceeds the monthly employee
contributions by approximately $2000 00 , The $200,000. 00 figure will leave sufficient funds available to
pay the monthly pension checks for several months.
Unfinished Business:
Andrew Jeleniewski' s I RF dollar transfer from Chicago Heights has been determined to be all taxable
Glen Calvert' s Adjusted Service Date: there was a discussion of how to calculate Officer Calvert's
adjusted service date . It was decided to send Attorney Collins all the documents for his review and to
move further discussion to the Nov 13"i meeting
IDOI Filing. Bill Powell stated that Zabinski Consulting had completed a preliminary report for filing
with IDOI It was decided to wait to E-file the report until after the City audit is completed . Then Bill
Powell will E-file the report if it does not submit Kelly Zabinski will assist as needed.
New Business.
The Police department held an election of officers and Chief Martin and Officer Pleckham were re-
elected as of June 12, 2007
Greg Sibenaller was also elected to the board as the retired member.
A letter was received from Jeff Ackland requesting a pension fund refund of his contributions Bill
Powell will provide the final dollar figure to Chief Martin so a check may be mailed
Pension applications were received from Officers Bledsoe, Poulos, and Carlyle A motion was made by
Chief Martin (2nd Officer Pleckham) to approve their applications Ayes — 4 Nays - 0
Next Meeting: The next meeting is scheduled for Nov 13 , 2007 at 5 .00PM in the police conference room
Adjournment: The meeting was adjourned at 6:30 PM
Prepared by: W. Powell file: Police\agendaVninutes Aug, 14 2007.doe
United City of Yorkville
F 800 Game Frame Road
1pppppppp Yorkville, Illinois 60560
EST ES
f = 1636 Phone 630-553-1887 William Powell
`= Fax: 630-553-7575 Treasurer
Treasurer' s Re, oorrt
(As of Oct 31 , 2007)
Dollars Percent
Cash: YNB 112,748 44
Schwab 35 531 .81
Total Cash: $ 148,280. 25 6,0%
Schwab:
Fixed Securities 1,918,828 86 782%
Equities: 232,779. 56 9. 5%
Sub-Total Assets . $ 22299,888. 67
United City of Yorkville R. E. Tax (11/13/07) 152,551 .62
Total Assets: $ 214525440.29
Employee Contributions YTD: $90174226
2006 Tax Lew Estimate: (,paid in 2007) $275700000
Actual Payments: 8/14/07 12, 505 . 93
9/11/07 661927 , 84
11/13/07 152.551 . 62
Total YTD 231 ,985 .39
Estimated monthly deposits: $ 1300. 00
Estimated monthly retiree payments, $ 12,243 . 00
/Z"
William Powell
Treasurer
United City of Yorkville File: I Report 103107 doc
f E0 cl?
.^ United City Of Yorkville
800 Game Farm Road
Est 1836 Yorkville, Illinois 60560
ce Phone 630-5.53 -43 .50
6 L p` Fax: 630-553-7575
Vwul° ei William Powell
I'E I 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 40IL.CS 5/3 — 141 )
Revised to conform to the audit dated Oct 1622007
Fisca12006-07(Act) Fiscal 2007-08(Est)
Beginning Balance as of May 1 , 2006. 1,583,046.69 2, 156, 872. 18
Contributions.
Employees: 159,927.49 2005000,00
HARF Transfers 461172.00 0.00
Tax Levy: 248,987. 74 275,000. 00
Investment Income 130,128,114 150 000.00
Total Contributions: 585,215. 44 625,000 00
Expenses Paid. ''-
Supplies: 0. 00 100. 00
Legal Fees: 13200. 00 3,600. 00
Accounting /Minutes 860. 00 11200. 00
Audit Fees. 0 .00 2,000.00
IDOI Filing Fees: 0.00 1,200.00
Actuarial Fees: 0.00 1 ,500. 00
Investment Fees: 9104.00 ' 10,000 .00
IDOI Annual Compliance Fees 225 .95 250, 00
Retirement Payments 0.00 140,000.00
Total Expenses 119389.95 159,850.00
Fiscal Year End Balance: ��2,156,872A 2,622,022.18
Submitted by: zei , ,.
Wi a' o el . United City of Yorkville Treasurer )
Approved. / L _ 1.
L✓ ebord : President A. Pleckh
The beginning balance was adjusted to the fiscal 2005-06 ending balance Total investment income was increased to
reflect accrued interest, Employee contributions were increased to include a carryover contribution from fiscal 2005-06.
Investment fees were increased to include a charge at the end of the fiscal year. Retirement payouts were increased to
improve estimated payments .
Annual pension stmtF2006 audited doe
United City of Yorkville
800 Came Farm Road
Yorkville, Illinois 60560
- Phone 630-553-4350
— . Fax: 630-553 -7575
William Powell
Tteastuer
To Police Pension Board
City Council
United City of Yorkville
Subiect: 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 2, 1381331 19
Total Investment Income: 111 ,450. 00
Contributions:
Fiscal 06-07(Act) Fiscal 07-08(Est)
Employees: 154,442. 45 20Q000 . 00
IMRF Transfers 46, 172 00 0 .00
Tax Levy: 248,987. 74 275,000 .00
Expenses Paid:
Supplies 000 100 .00
Legal Fees 1 ,200 00 3,600 00
Accounting /Minutes 86000 11200 .00
Audit Fees: 000 2100000
IDOI Filing Fees 000 1,200. 00
Actuarial Fees: 000 11500 .00
Investment Fees 8,266 00 10,000 00
IDOI Annual Compliance Fees 225 .95 250, 00
Retirement Payments 0.00 120.000.00
Total Expenses 10,551 95 139,850, 00
Submitted by V / L&
i 'ar owel nited City of Yorkville Treasurer
Approved _ 4-_
L eb rd reside t D ch
Annual pension stmtF'2006 .doc
0 C/,?% United City ® f Yorkville
J County Seat of Kendall County
800 Game Farm Road
a
En �� ` 7836 Yorkville, Illinois, 60560
Telephone : 630-553-4350
®
o ho Fax : 630-553-7575 William Powell
Website : www.yorlaille, il . us D'easur•er-
Nov 11 2007
Ms Shirley Kubicz
Subject: United City of Yorkville Police Pension Fund
The statement below shows the balance in the United City of Yorkville Police Pension Fund and your
accumulated tax deferred contributions as of Aug 28, 2007
Fiscal Year 2006-2007. $ 1,890, 64
Fiscal Year 2007-2008. $ 1 800 04
Total Contributions: $3,690. 68
Please retain this letter for your records ,
William Powell
Treasurer
United City of Yorkville
cc: Police Pension Board