Police Pension Meeting Minutes

Police Pension Minutes

North Aurora Police Pension
Board of Trustees
Minutes of the meeting – April 16, 2013


The meeting was called to order at 5:00 pm, by Greg Manko. Roll call was conducted and members present were as follows: Greg Manko, Mary Licar, Brad Brown, Robyn Stecklein and Ray Treve. Also present were Board Attorney Charles Atwell, Bill Hannah from the Village of North Aurora, Ed MacMillian and Anise Hesson. Representative from MB Financial, Spencer Klein and Terese Krafcheck were also in attendance.

Audience Comments
None

Approval of Minutes
A motion to approve the minutes of the January 15, 2013 meeting was made by Robyn Stecklein, seconded by Greg Manko. All were in favor, none opposed.

Presentation and Acceptance of Investment Report
Item was not on agenda – item discussed but will not be approved until next meeting. The portfolio is currently at 47% equity, 53% fixed income. All in all, we had a strong quarter. Value added from investments this quarter was $452,375. The portfolio is currently well diversified in stocks.

Presentation and Acceptance of Treasurer’s Report
Item was not on agenda – item discussed but will not be approved until next meeting. Ed MacMillian presented the Treasurer’s Report. All new activity is circled. Last page of the report is the Balance Sheet – the assets are up 6.2% for the year to date. Any questions, please contact Ed.

Old Business – Review of RFP’s
RFP’s were due back to Bill Hannah on March 30, 2013. Bill presented the 8 RFP’s that he received. It was decided that the Board would invite 3 of the 8 Firms to give presentations at a special meeting of the Board. On June 11, 2013, MB Financial, Sawyer Falduto and Graystone Consulting will give presentations to the Board at a meeting beginning at 5pm in the Police Department Community Room. Each Firm will be allowed 20 minutes for their presentation. Any questions, please contact Bill.

Old Business – Review and Approve Peat’s application
A motion was made by Brad Brown to approve Peat’s application, seconded by Robyn Stecklein. Roll call vote: Manko – yes. Licar – yes. Brown – yes. Stecklein – yes. Treve – yes. Motion passes.



New Business
None

Other
None

Next regular board meeting will be Monday, July 22, 2013.

Special board meeting for presentation of RFP’s will be held Tuesday, June 11, 2013.

Meeting adjourned at 6:16pm.


Greg Manko - President


Brad Brown - Secretary