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police4-4-05 L Yorkville Police Pension Fund Board vCr � �` +� ;E .. 804 Game Farm Road Yorkville, I160560 (630)553-4340 April 4, 2005 Meeting Minutes Meeting Call to Order: The meeting was called to order at 3:53 PM Roll Call: Present: Harold Martin, Larry Debord, Todd Overmyer, William Powell Attorney: Cary Collins, Merrill Lynch: Brad Kitchener Previous Meeting Minutes Corrections/Approval: Minutes for the Jan. 3, 2005 were deferred until the next meeting. Communications: Merrill Lynch monthly statements for the months of Nov 04, Dec 04, Jan 05 and Feb 05 were passed out. Treasurer's Report: The Treasurer's report as of Feb 28, 2005 was submitted. A motion was made by Harold Martin(2nd Larry Debord)to approve the report. (Ayes—3,Nays—0) Bills for Payment: Legal Fees: Cary Colllins $500.00 Accounting Fees: William Powell $300.00 PTW $385.00 Actuarial Fees: Tim Sharp $1,300.00 Total Bills for Payment $2,485.00 A motion was made by Harold Martin(2°d: Todd Overmyer) to approve payment. (Ayes—3, Nays—0) Unfinished Business: None New Business: Investments: Brad Kitchener recommended adding to present cash funds before further investing due to increasing interest rates. Therefore,no investments were made at this time. Additional Business: The budget for fiscal year 2005-2006 and the Annual Treasurer's Report will be presented at the next scheduled meeting on May l Orn Adjournment: A motion to adjourn was made by Harold Martin(2nd Todd Overmyer) Ayes—3,Nays—0 Next meeting: May 10, 2005 at 3:30 PM file:Minutes April 4 2005(WEP) Treasurer's Report (As of April 30, 2005) Merrill Lynch Amount Percent Cash $ 77,0957 7 Fixed CD's $ 148,570 13 Fixed Govmt's $ 787,465 71 Mutual Funds $ 103,888 9 Estimated Accrued Interest $ 8,280 Total difference due to rounding) $ 1,125,299.65 Old Second Checking $ 4,494.68 Total Balance $ 1,129,794.33 Investment transactions from last meeting (April 04, 2005) Sales: None Purchases: None Estimated Funds Available for investment: Merrill Lynch 4/30/05 $ 77,095 April 05 Estimated Employee contributions Total estimated funds available $ 77,095 (Maximum Equities amount: 10%( $ 1,129,794.33) = 112,979 - $ 103,888 =$ 9091) Tax Levy collected in 2004: 206,231.47 William Powell Treasurer United City of Yorkville File:T Report 043005.doe May 10, 2005 To: Police Pension Board City Council United City of Yorkville Subject: Annual Police Pension Fund activity for fiscal year May 1, 2004 to April 30, 2005 (As required by Illinois State Statue 40 ILCS 5/3 — 141) Beginning Balance as of May 1, 2004: 793,243.72 Fiscal 2004 Contributions: Employees: 121,781.30 Tax Levy: 206,231.47 As of April 30, 2005: Old Second Bank: 4,494.68 Merrill Lynch: Cash 77,095 CD's 148,570 Gov&Agency 787,465 Mutual Funds 103,888 Estimated Accrued Interest 8,280 Total 1,125,299.65 Fiscal Year End Balance: 1,129,794.33 Expenses Paid: Investment Fees: 150.00 Legal Fees: 2,000.00 Accounting Services: 1,290.00 Actuarial Fees 1,300.00 Audit Fees 365.00 IDOI Annual Compliance Fees 103.57 Total 5208.57 Account Value as of April 30,2005 1,129,794.33 Submitted by: William Powell Treasurer: United City of Yorkville Annual pension statement.doc United City of Yorkville Police Pension Fund Budget: Fiscal Year 2005 Fiscal 03-04 1 Fiscal 04-05 Fiscal 05-06 Budget Item I(as of 04/30104) as of 04/30105_ _ as of 04/30/06 Revenue r Actual Budget Actual Budget Actual Beginning Balance 517894.18 793241.42 796339.38 796339.38 Tax Levy 183410.85 207000.00 206231.47 231686 Member Contributions 92801.83 103000.00 121781.25 128000 Old Second Bank Interest 21.92 24.00 20.74 100 M/L Money Market Div's 1491.93 1000.00 1441.58 2400.00 M/L CD's & Gov's 7160.88 15000.00 20411.25 22000.00 Acurred Interest 8280.00 10000 M/L Market Fluctuation Adjmt -6440.17 -19502.77 Total Revenue 278447.24 326024.00 338663.52 384186.00 Expenditures Supplies 0.00 100.00 0.00 100.00 Attorney Fees 2000.00 2000.00 2000.00 2000.00 Accounting Fees 950.00 800.00 1290.00 1200.00 Audit Fees 0.00 0.00 365.00 1000.00 Actuarial Fees 0.00 1500.00 1300.00 1500.00 Investment Fees 150.00 150.00 150.00 150.00 Pension Seminars 0.00 500.00 0.00 0.00 Participant Refunds 0.00 0.00 0.00 0.00 Retirement Benefits 0.00 0.00 0.00 0.00 Disability Benefits 0.00 0.00 0.00 0.00 Spousal Benefits - 0.00 0.00 0.00 0.00 Dependant Benefits 0.00 0.00 0.00 0.00 IDOI Annual Compliance Fee 103.57 103.57 120.00 Total Expenditures 3100.00 5153.57 5208.57 6070.00 Ending Balance 793241.42 1114111.85 1,129,794.33 1174455.38 Approved: pol ice/budg etf05-06.xis