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police8-9-05 Yorkville Police Pension Fund Board 804 Game Farm Road APPROVED BY THE Yorkville, I160560 COMMITTEE/BOARC3 (630)553-4340 a�' � /� ly � Aug 9, 2005 Meeting Minutes Meeting Call to Order: The meeting was called to order at 3:42 PM Roll Call: Present: Harold Martin,Larry Debord,Todd Overmyer, William Powell Attorney:Bob Bell, Merrill Lynch: Brad Kitchener, Mitchell, Vaught, Walker: David Vaught Previous Meeting Minutes Corrections/Approval: Minutes for the Jan. 3, 2005 were deferred until the next meeting. Communications: Merrill Lynch monthly statements for the month July 05 was passed out. Treasurer's Report: The Treasurer's report as of July 31, 2005 which does not include a Tax Levy payment of $35,293.16 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 $540.00 IDOI Annual Fees: $159.26 Total Bills for Payment $1,199.26 The next employee contribution will be deposited into the YNB checking account. A motion was made by Harold Martin(2"d: Todd Overmyer)to approve action. (Ayes—3,Nays—0) Invesments: No investment purchases or sales were made. A motion was made by Harold Martin(2"d: Todd Overmyer)to approve action. (Ayes—3,Nays—0) Unfinished Business: None New Business: Presentations: David Vaught, CFA of Mitchell, Vaught, Walker, Inc (MVW) MV W is a fund management firm, which handles pubic pension funds. The firm has been in business since 1996 and has member investment experience since the 1980's. They have handled as many as 30 funds. Some funds included are police pension funds for Harvey, Justice, Monmouth,North Riverside, Pekin, Zion, Plano, and Carpentersville. Fund investments by statute are limited to Treasury's, Agencies, and Mortgage Backed Securities. A 3 to 5 year contract is normally established to management new accounts. New Business(continued): A question was raised about requesting a new actuarial study for this year. Funds have been budgeted for this expenditure. This will be discussed further and requested if needed. Note to Board: This should not wait until the Nov meeting but be requested now... Additional Business: The IDOI internet filing is in progress. A motion to set the following meeting dates was made by Larry Debord (2nd Harold Martin) Nov 15, 2005 Feb 14, 2006 May 9, 2006 Ayes—3,Nays—0 Adjournment: A motion to adjourn was made by Harold Martin(2°d Larry Debord) Ayes—3,Nays—0 Next meeting: Nov 15, 2005 at 3:30 PM file:Minutes Aug 9 2005(WEP)