Police Pension Minutes
North Aurora Police Pension
Board of Trustees
Regular Board Meeting
Minutes of the meeting – July 21, 2015
The meeting was called to order at 5:00pm, by Robyn Stecklein. Roll call was conducted and members present were as follows: Robyn Stecklein, Greg Manko and Mary Licar. Brad Brown and Steve VanLoan were absent. MB Financial representatives, Terese Krafcheck and Spencer Klein were present. Also present were Board Attorney Charles Atwell, Bill Hannah from the Village of North Aurora, Ed MacMillan and Anise Hesson.
Audience Comments
None
Approval of Minutes
A motion was made to approve the minutes of the Regular Board Meeting dated April 21, 2015 by Greg; motion seconded by Mary. A roll call vote was taken: Stecklein – yes; Manko – yes; Licar – yes. Motion passes.
Presentation and Acceptance of Treasurer’s Report
Ed MacMillan presented the Treasurer’s Report. Profit and Loss detail covers activity from April 22, 2015 through July 21, 2015. As of June 30, 2015, Net Income is at $311,529.99. A motion was made to approve the Treasurer’s Report by Greg Manko; seconded by Mary Licar. A roll call vote was taken: Stecklein – yes; Licar – yes; Manko – yes. Motion passes.
Presentation and Acceptance of Investment Report
Terese Krafcheck presented the Performance Report as of June 30, 2015. The ending market value of the portfolio was $13,580,592, a slight decrease last quarter. Goal is based on 50% equity securities and 50% fixed income securities; the portfolio is very close to target. All investments are preforming ahead of the benchmark.
Motion was made to accept the Investment Report by Greg Manko; seconded by Mary Licar. A roll call vote was taken: Stecklein – yes; Licar – yes; Manko – yes. Motion passes.
New Business
1. Appointment of Pension Board Officers
A motion was made by Robyn to keep the slate of officers the same as the past year:
President Robyn Stecklein
Vice President Greg Manko
Secretary Brad Brown
Asst. Secretary Mary Licar
Motion seconded by Greg. A roll call vote was taken: Stecklein – yes; Licar – yes; Manko – yes.
2. Approval of IPPFA Conference Expenditures
A motion was made to approve IPPFA Conference Expenditures by Robyn and seconded by Greg. A roll call vote was taken: Stecklein – yes; Licar – yes; Manko – yes. Motion passes.
Audience Comments
None
The board’s next meeting will be Oct 20, 2015 at 5pm.
A motion was made to adjorn the meeting by Robyn; seconded by Mary. A roll call vote was taken: Stecklein – yes; Licar – yes; Manko – yes. Motion passes.
Meeting adjourned.
Robyn Stecklien – President
Brad Brown – Secretary
