Police Pension Packet 2004 04-05-04 Yorkville Police Pension Fund Board
804 Game Farm Road
Yorkville, Il 60560
(630)553-4340
April 5, 2004 Meeting Minutes
Meeting Call to Order: The meeting was called to order at 7:30 AM
Roll Call: Present: Harold Martin, Larry Deborg, Dan Pleckham, William Powell
Attorney Cary Collins
Absent: Todd Overmyer
Previous Meeting Minutes Corrections/Approval:
Communications: None to report.
Treasurer's Report:
Bill Powell submitted the Fiscal year 2004 revised budget (copy attached).
Merrill Lynch and Old Second Bank balances were reported.
Officer contribution letters were submitted.
Bills for Payment:
Legal Fees: (Payable 5/1) Cary Colllins $500.00
Accounting Fees: William Powell $ 90.00
Total Bills for Payment $590.00
Unfinished Business:
Actuarial Study: Tim Sharp will be contacted to prepare an actuarial study for the police pension.
New Business:
Quarterly Portfolio Review: Brian Speers was on conference call to discuss the fund's portfolio.
Quarterly Investment of Cash Balance: A motion was passed to invest $13,000.00 in each of Davis
NY Venture FDA and Oppenheimer Capital Appreciation CL A funds. Also, $100,000 in a maturity
of 2006.
Approval of Revised Board Rules: A motion was passed to approve the revised Board Rules.
Election of Officers: A ballet will be posted in the police department for the election of new
Board officers.
Appointment of Officers: Todd Overmyer's appointment expires in 2004. A new appointment or
reappointment must be considered.
Additional Business:
The approved Board Rules and Investment Policy will be submitted to IDOI.
UNITED CITY OF YORKVILLE
Clerk's Office
FROM THE DESK OF LIZ D'ANNA
May 3, 2004
TO: Bill Powell, City Treasurer
RE: Meeting Dates for the Police Pension Board for last fiscal year
As per your request, listed below are the meeting dates from May 1, 2003 through
April 30, 2004:
May 5, 2003
June 2, 2003
July 7, 2003
August 11, 2003
September 24, 2003
October 6, 2003 (cancelled)
November 3, 2003
December 2, 2003
January 5, 2004
April 5, 2004
If you have any questions, please contact me.
Thank you,
j:_f;
Liz D'Anna
Deputy Clerk
Adjournment: A motion to adjourn was passed
Next meeting: May 11, 2004 @ 3:30 PM
file:Minutes April 5 2004(WEP)
Treasurer's Report
(As of June 30. 2004)
Merrill Lynch:
Merrill Lynch Amount Percent
Cash $ 35,257 4
Fixed CD's $297,242 37
Fixed Govmt's $394,345 49
Mutual Funds $ 74,862 9
Total (difference due to rounding) $805,481.07
Old Second Checking $ 8,952.63
Total Balance $814,433.70
Investment transactions from last meeting (April 5, 2004)
Davis NY Venture Fund: $13,000.00
Oppenheimer Capital Fund: $13,000.00
Federal Home Ln Mtg Corp: $101,378.00
Total: $127,378.00
Tax Levy for Fiscal 2004-2005: $207,000.00
Annual Treasurer's Report
Investment Policy and Board Rules to IDOI (sent 4/5/04)
Update Fiscal 2004—2005 Budget reflecting year-end actuals
Start of IDOI Internet Filing for Fiscal 2003
"Ca/4P
William Powell
Treasurer
United City of Yorkville File:T Report 063004.doc
May 11, 2004
To: Police Pension Board SG
City Council 3
United City of Yorkville
Subject: Annual Police Pension Fund activity for fiscal year May 1, 2003 to April 30, 2004
(As required by Illinois State Statue 40 ILCS 5/3 — 141)
Beginning Balance as of May 1, 2003: 517,894.18
As of April 30, 2004:
Contributions:
Employees: 1837440:45 2/6C1. . e 3
Tax Levy: 176;033:08 3)‘11c- 5.
Old Second Bank: 9,0501T i o 5 2..5
Merrill Lynch:
Cash 12,711
CD's 298,242
Gov&Agency 397,328
-- vIutual Funds 72,645
Total 787,291.21
I'✓ Total before expenses: 796,341 "1 96 3'15 7.1--
•
ens
Expes•
Investment Fees: 150.00
Legal Fees: 2,000.00
Accounting Services: 950.00
Total 3,100.00
Account Value as of April 30, 2004 793,24E42 --N3
Submitted by:
William Powell
Treasurer: United City of Yorkville
Annual pension statement.doc
United City of Yorkville
Police Pension Fund
Budget: Fiscal Year 2004 (revised 5/6/04)
Fiscal 02-03 Fiscal 03-04 Fiscal 03-04 Fiscal 04-05
Budget Item (as of 04/30/04)
Revenue Actual Budget Actual Percent Budget
Beginning Balance 275365.60 517894.18 517894.18 793241.42
Tax Levy 176033.00 184453 183410.85 99.4 207000.00
Member Contributions 81660.85 90000.00 92801.83 103000.00
Old Second Bank Interest 32.01 32.00 21.92 68.5 24.00
M/L Money Market Div's 2558.18 4000.00 1491.93 37.3 1000.00
M/L CD's& Gov's 0.00 7100.00 7160.88 100.9 15000.00
M/L Market Fluctuation Adjmt -6440.17
Total Revenue 260284.04 285585.00 278447.24 97.5 326024.00
Expenditures
Supplies 179.98 100.00 0.00 0.0 100.00
Attorney Fees 500.00 2000.00 2000.00 100.0 2000.00
Accounting Fees 760.00 950.00 125.0 800.00
Audit Fees 0.00 0.00 0.00
Actuarial Fees 1500.00 0.00 0.0 1500.00
Investment Fees 150.00 150.00 100.0 150.00
Pension Seminars 500.00 0.00 0.0 500.00
Participant Refunds 17075.48 0.00 0.00 0.00
Retirement Benefits 0.00 0.00 0.00
Disability Benefits 0.00 0.00 0.00
Spousal Benefits 0.00 0.00 0.00
Dependant Benefits 0.00 0.00 0.00
Total Expenditures 17755.46 5010.00 3100.00 61.9 5050.00
D-4ProP mos,..,-aHc4 103.57
Ending Balance 517894.18 798469.18 793241.42 99.3 1114215.42
Approved: 01/05/04
Revision Approved: 04/05/04
police/pension budget.xls WEP: 12/02/03