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Police Pension Packet 2004 07-06-04 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, 1160560 (630)553-4340 July 6, 2004 Meeting Minutes Meeting Call to Order: The meeting was called to order at 3:50 PM Roll Call: Present: Harold Martin, Larry Deborg, Todd Overmyer, William Powell Attorney Cary Collins Previous Meeting Minutes Corrections/Approval: Minutes for the April 5, 2004 meeting were reviewed. Formal approval was deferred until the next meeting. Communications:None to report. Treasurer's Report: Bill Powell submitted the Treasurer's Report as of 6/30/2004(copy attached). New funds invested as approved at the 4/5/04 meeting: $127,378.00 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 Fiscal Year 2004 Tax Levy amount: $207,000 The Annual Treasurer's Report for Fiscal year 2003 was submitted(copy attached). Fund balance as of 4/30/2004: $793,241.42 The Budget for Fiscal year 2004 was revised to reflect Fiscal year 2003 actuals(copy attached). The approved Pension Board Rules and Investment Policy were submitted to IDOI on 4/5/04. Bills for Payment: Legal Fees: Cary Colilins $500.00 Accounting Fees: William Powell $120.00 IDOI Annual Fee: $103.57 Total Bills for Payment $723.57 Unfinished Business: Actuarial Study: Cary Collins will ask Tim Sharp to contact Bill Powell. New Business: IDOI Internet Filing for Fiscal 2003 is due in Oct. Patricia Cernekee has resigned as of 6/16/04 to take a position with the Illinois State Police Department. A letter has been sent requesting her decision on handling her vested pension dollars. A motion was made by Todd Overmyer(2nd Larry Deborg)to approve appointment of newly elected members Harold Martin and Dan Pleckham to the board. (Ayes—3,Nays—0) A motion was made by Harold Martin(2"Todd Overmyer)to keep the current board officers for the next two years. (Ayes—3, Nays—0) A motion was made by Harold Martin(2"d Todd Overmyer)to appoint Bill Powell as minute taker in the absence of Dan Pleckham. (Ayes— 3,Nays—0) Dan Pleckham's extended absence was discussed. It was mentioned that he has paid medical leave into Jan 05. Harold Martin will obtain a copy of Dan's medical records. Additional Business: None Adjournment: A motion to adjourn was made by Harold Martin(2"d Todd Overmyer) Ayes—3,Nays—0 Next meeting: Oct 4, 2004 at 3:30 PM file:Minutes July 6 2004(WEP) Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, Il 60560 (630)553-4340 3:30PM on Tuesday July 6, 2004 Police Department Conference Room Meeting Call to Order: 3:30 p.m. Roll Call: Previous Meeting Minutes: Corrections/Approval Communications: Treasurer's Report: Merrill Lynch: Cash: Fixed: Mutual Funds: Balance: Old Second: Balance: Total Balance: 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 Annual Treasurer's Report Bills for Payment: Unfinished Business: Actuarial Study Investment Policy and Board Rules to IDOI (sent 4/5/04) Update Fiscal 2004—2005 Budget reflecting year-end actuals New Business: Start of IDOI Internet Filing for Fiscal 2003 Additional Business: Adjournment: Next meeting: f 4.)01-4-7 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, I160560 (630)553-4340 3:30PM on Tuesday July 6, 2004 Police Department Conference Room Meeting Call to Order: 3:30 p.m. 3 :S� Roll Call:(7- 0ri..9 Previous Meeting Minutes: Corrections/Approval iZ--z v c eta ea Pg'—=0 -f Communications: Treasurer's Report: '"` " Merrill Lynch: Cash: Fixed: Mutual Funds: Balance: Old Second: Balance: Total Balance: 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 Annual Treasurer's Report Bills for Payment: ; U Cvet, Sem r-Lttoc ;1.-0-r 0c.i ter- L Unfinished Business: a- 0 Actuarial Study- f SHa A < w - 'rte °H - /1 5 - L U Investment Policy and Board Rules to IbOI (sent 4/5/04) L Le,ck_ Update Fiscal 2004-2005 Budget reflecting year-end actuals Lzt 0 - — 3 — < v New Business '` �`` /1 c - r tJ • _ - . .. .4i - III -. I ♦ - Start of IDOI Internet Filing for Fiscal 2003 l4,4 f ' moi.c -— 1/4 c. Tr'- t. 4-1 ��4i ��'=- ice'✓ �� s' G L17it., i�. r' Te :7�z�:�- . '177U-/ ,� Additional Business: 6//6/ LA r ©A j. ,,,� _ L 5" — T Adjournment: Next meeting: Tuesday: July 13, 2004 3:30PM c � �{ 3:3 - 19.1K 4 Av — . .a . AN 1 YORKVILLE POLICE PENSION FUND BOARD 804 Game Farm Road Yorkville, IL 60560 (630) 553-4340 AGENDA 3:30 p.m. on Tuesday, July 6, 2004 Police Department Conference Room Meeting Call to Order: 3:30 p.m. Roll Call: L a.Lvi P. , Todd 4. 1 , vo/4 Cove y l[ S ,��-1 Pl — re sous Meeting Minutes: �o 6 CorrectiD ons/Approval a Communications: Treasurer's Report: Merrill Lynch: Cash: Fixed: Mutual Funds: Balance: Old Second: Balance: Total Balance: 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: $101378.00 Total: $127,378.00 Annual Treasurer's Report • aAA ( Bills for Payment16 :'� Lee`�'�"`'P°�� G G>,-�a �� Zo °��'�`' jet��0 / .f-2 2. Degot•� •� -0 Unfinished Business: 1. Actuarial Study.- 2. tudyr2. Investment Policy and Board Rules to IDOI (sent 4/5/04) MaArc New Business: 1. Start of IDOI Internet Filing for Fiscal 2003 .,(2/4" -60 6,.sz^- 04 at, Additional Business: Adjournment: Next Meeting: Monday, October 4, 2004 -3:30 p.m. ' l , • / I N • 441 Pred, 41--m rpg-a-c 00, 4-)v/i 97- 14 -19tv.a-v-J,4a dx27/ .. I rilfil-)12krri - pn-tvs-- '191-1117 yttm,_1/utv_91 - 2 1/' --„L'°-4:1'/"*°7 Y'da al-0005 )/4- G qg tvs Loyow , 4-(1"vw," 41"1"71 Lrif '7 np&/ - 7 hof ' 61 (\r r ri‘re/Ii# f oft. ±� �•►�, - i f 'S "4.. 77, i -a- -- �a � 7 Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, Il 60560 (630)553-4340 April 5, 2004 Meeting Minutes (Draft) 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 Coillins $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, $100,000 in a maturity of 2006. Approval of Revised Board Rules: A motion was passed to approve the revised Board Rules. Election of Officers: A ballet will be posted in the police department for the election of new Board officers. Appointment of Officers: Todd Overmyer's appointment expires in 2004. A new appointment or reappointment must be considered. Additional Business: The approved Board Rules and Investment Policy will be submitted to IDOI. Adjournment: A motion to adjourn was passed Next meeting: May 11, 2004 @ 3:30 PM file:Minutes April 5 2004(WEP) Yorkville Police Pension Fund Board 804 Game Farm Road Yorkville, I160560 (630)553-4340 Monday April 5, 2004 Police Department Conference Room Meeting Call to Order: 7:30a.m. Roll Call: Previous Meeting Minutes: Corrections/Approval Communications: IN Fc. `L Treasurer's Report: F40 0't ?,,-u‘s i' "9 C. El MSL .s3 yMB Bills for Payment: ci.Coh+TA.13a Tt°•J Le r-rEn-s +C p oo F( ocwtexas f.•vc. Se Unfinished Business: s°O'oo F( Co""-4PA' a( L-c fl I Approval of Actuarial Study New Business: i l Quarterly Portfolio review: Brian Speers B,,�,� Quarterly Investment of cash balance: Board s 3 K t< '4' << � "'" '' )�'K' Approval of revised Board Rules took i.' 30 j/erwj a Q zao Contribution Letters - FLc'LT1tit.sS ; �4u,gT t�t�j 6SS've0 A(7 PO, vTe.� a�-r op a.AAA 44.ex, . F/ To Q A o Additional Business: (Submit Investment Policy and Board Rules to IDOI) Salary Schedule as of 4/30/04 from I -r A.A Adjournment: 5' t,t `t 3 3� �•. VU es? Next meeting: Affil-5-,-240+ ` ' 0 7/ 6 /0 ‘( S (.1) (i t 510,A TAL Q w` -60.4 4n� S Q� 4 0 t n etir en 113k EA To pave Oct FOA`` a 1)PENs4a,me2 CA"` AMrt,tu4Z'tc,) CV A. Ansapot) << to MAro 4.brr °F zoo ( L,Ai DeE 8(/6,/2,00G Co0A ,2.75-°0 lot . yb87s- ixos 2. /04 % iii/e,Y Chief H. Martin L. Debolt T. Overmyer D. Pleckham Subject: April 5th Board Meeting Agenda As of 2/27/04 the Merrill Lynch account: Asset Value($) 0/0 Cash 123,000 16 CD's 297,000 38 Gov Sec's 303,000 39 Mutual Funds 50,000 7 Total 778322 We can expect an addtional $8,000 from employee contributions in the month of March for a total cash on hand of$131,000. We should consider how we want to invest these funds for our meeting on April 5th.... Question: Larry can you contact Merrill Lynch and find out what optional investments and %'s are available to us.... I will add this item to the April 5th adgenda... Bill Powell cash balance.doc C•44/-6-V �2 / DATE: 02/26/L UNITED CITY OF YORI PAGE: 18 TII4E: 14:10:36 DETAIL BOARD REPORT ID: AP441000.WOW INVOICES DUE ON/BEFORE 03/09/2004 INVOICE # INVOICE ITEM VENDOR # DATE # DESCRIPTION ACCOUNT # P.O. # DUE DATE ITEM AMT SBC SBC 12504 01/25/04... 01 LIFT STATION 5100062005436 03/09/04 20.09 INVOICE TOTAL: 20.09 VENDOR TOTAL: 20.09 SCHOPPE SCHOPPE DESIGN ASSOC. 10910 02/15/04 01 BOY SCOUT CAMP PLANNING 0122062005401 03/09/04 8,560.65 INVOICE TOTAL: 8,560.65 10921 02/18/04 01 BRISTOL CLUB 0100013001372 03/09/04 57.50 INVOICE TOTAL: 57.50 VENDOR TOTAL: 8,618.15 SCHRADC SCHRADER, CHARLES & ASSOCIATES GRANT 02/28/04 01 GRANT COORDINATOR FEES 0111062005401 03/09/04 3,500.00 INVOICE TOTAL: 3,500.00 VENDOR TOTAL: 3,500.00 SEAGREN SEAGREN CONSTRUCTION, INC. BOOSTER PUMP 02/17/04 01 SOUTH BOOSTER PUMP/PRESSURE 4100061005408 03/09/04 34,470.00 INVOICE TOTAL: 34,470.00 VENDOR TOTAL: 34,470.00 STATEPOL STATE POLICE SERVICES FUND TRAINING 02/20/04 01 CRASH RECONSTRUCTION TRAINING 0121064005604 03/09/04 485.77 INVOICE TOTAL: 485.77 TRAINING 3/22 02/29/04 01 ACCIDENT INVESTIGATIN TRAINING 0121064005604 03/09/04 370.06 INVOICE TOTAL: 370.06 TRAINING 4/19 02/29/04 01 VEHICLE DYNAMICS TRAINING 0121064005604 03/09/04 222.86 INVOICE TOTAL: 222.86 VENDOR TOTAL: 1,078.69 Page 1 of 1 Subj: April pension adgenda Date: 3/10/2004 12:42:06 PM Central Standard Time From: Wpnkp8l To: TOTHEMN, DTDC3,ta0212(a�comcast.net, YPDCOP CC: YorkvilleFinance, Wpnkp8l As of 2/27/04 the Merrill Lynch account: Asset Value($) % Cash 123,000 16 CD's 297,000 38 Gov Sec's 303,000 39 Mutual Funds 50,000 7 Total 778322 We can expect an addtional $8,000 from employee contributions in the month of March for a total cash on hand of$131,000. We should consider how we want to invest these funds for our meeting on April 5th.... Question: Larry can you contact Merrill Lynch and find out what optional investments and %'s are available to us.... I will add this item to the April 5th adgenda... Bill Powell Thursday, March 11, 2004 America Online: YPDCOP