HomeMy WebLinkAbout04/18/2005 FPFB minutesMINUTES OF THE REGULAR MEETING OF THE
MOUNT PROSPECT FIREMENS PENSION FUND BOARD
April 18, 2005
CALL TO ORDER
Chief Figolah called the meeting to order at 8:45A.M.
ROLL CALL
Present upon roll call
Absent
Gerald L. Farley, Mayor
David Erb, Treasurer
Donald Burger, Secretary
Velma Lowe, Village Clerk
Sam Baas, Firefighter
Village Attorney
Mike Figolah, Chief
Jeff Ricker, Firefighter
James Juliano, Retired Firefighter
APPROVE AGENDA
Mayor Farley, seconded by Don Burger moved to Elect David Erb President Pro
Temp.
Upon roll call: Ayes: Farley, Burger, Baas, Lowe, Erb.
Nays: None
Motion Carried
Mayor Farley, seconded by Don Burger moved to approve the agenda as
presented.
Upon roll call: Ayes: Farley, Burger, Baas, Lowe, Erb.
Nays: None
Motion Carried
APPROVE MINUTES
Velma Lowe and Mayor Farley left the meeting.
Approval of The regular meeting for January 17, 2005 was deferred till the next
Meeting.
TREASURER'S REPORT
David Erb presented the financial statement for —March 31, 2005.
As of March 31, 2005 the Fund had net assets with a book value totaling $36.5
million.
As if March 31, 2005 the market value of the Fund's portfolio exceeded the book
value of the investments by $190,216. This is down $317,810 of unrealized gains
reported last quarter.
Disbursements by vendors for the quarter were $15,692.74
Rick Potter discussed the investments results for the March quarter, and for the
year.
COMMITTEE REPORTS
No committee reports were presented.
NEW BUSINESS
Tony Halachoulis, Joel Babbatt,CLU and James McNamee President of IPPFA,
Made a presentation on the Pension Board joining the IPPFA. This was deferred
till next meeting.
Gary Karshna from Capital Gains and Rick Potter of Segall Bryant gave reports
on our investments.
ADJOURNMENT
Don Burger, seconded by Sam Baas moved to adjourn the meeting.
The meeting was adjourned at 10:20 A.M.
Donald Burger
Secretary