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HomeMy WebLinkAboutAgenda Packet 01/29/2008MAYOR mo= Pr+oq ea VILLAGE MANAGER Irvana K. Wilks Michael E. Jannis TRUSTEES VILLAGE CLERK Timothy J. Corcoran M. Lisa Angell Paul Wm. Hoefert Arlene A. Juracek Phone: 847/392-6000 A. John Korn Fax: 847/392-6022 Richard M. Lohrstorfer TDD: 847/392-6064 Michael A. Zadel w=.mountpmMect.orY Village of Mount Prospect 50 South Emerson Street, Mount Prospect, Illinois 60056 MEETING NOTICE JANUARY 29, 2008 IS A "FIFTH TUESDAY" HENCE, THERE WILL BE NO REGULAR VILLAGE BOARD MEETING C --- : � '_O - THE NEXT REGULAR VILLAGE BOARD MEETING IS SCHEDULED FOR TUESDAY, FEBRUARY 19, 2008 Dated this 25th day of January 2008 MAYOR MOunt Prospect VILLAGE MANAGER Irvana K. Wilks Michael E. Janonis TRUSTEES VILLAGE CLERK Timothy J. Corcoran M. Lisa Angell Paul Wm. Hoefert Arlene A. Juracek Phone: 847/392-6000 A. John Korn Fax: 847/392-6022 Richard M. Lohrstorfer TDD: 847/392-6064 Michael A. Zadel www.mountprospect.org Village of Mount Prospect 50 South Emerson Street, Mount Prospect, Illinois 60056 ORDER OF BUSINESS Meeting Location: Mount Prospect Village Hall 50 South Emerson Street Mount Prospect, Illinois 60056 I. CALL TO ORDER II. ROLL CALL SPECIAL MEETING Mayor Irvana K Trustee Timothy Corcoran Trustee Paul Hoefert Trustee Arlene Juracek Meeting Date and Time: Tuesday January 29, 2008 6:00 P.M. Wilks Trustee A. John Korn Trustee Richard Lohrstorfer Trustee Michael Zadel III. CLOSED SESSION LAND ACQUISITION 5 ILCS 120/2 (c) (5) - The purchase or lease of real property for the use of the public body, including meetings held for the purpose of discussing whether a particular parcel should be acquired. IV. ADJOURNMENT ANY INDIVIDUAL WITH A DISABILITY WHO WOULD LIKE TO ATTEND THIS MEETING SHOULD CONTACTTHE VILLAGE MANAGER'S OFFICE AT 50 SOUTH EMERSON STREET, 847/392-6000, TDD 847/392-6064. AGENDA MOUNT PROSPECT FIREFIGHTERS PENSION FUND BOARD REGULAR MEETING Tuesday, January 29, 2008 Fire Department Conference Room 2°d FLOOR *** 8:30 A.M. *** I. CALL TO ORDER II. ROLL CALL CHIEF FIGOLAH DAVID ERB DON BURGER SAM BAAS JEFF RICKER III. APPROVE AGENDA IV. APPROVE MINUTES A. Regular Meeting, October 22, 2007 V. TREASURER'S REPORT A. Approve Treasure's report B. Quarterly financial report VI. COMMITTEE REPORTS A. MEDICAL COMMITTEE: Don Burger, Sam Baas B. LEGAL COMMITTEE: Chief Figolah VII. OLD BUSINESS VIII. NEW BUSINESS A. Seat Jeff Ricker for new three year term IV. ADJOURNMENT MINUTES OF THE REGULAR MEETING OF THE MOUNT PROSPECT FIREFIGHTERS PENSION FUND BOARD October 22, 2007 CALL TO ORDER Meeting called to order at 8:40 A.M. ROLL CALL Present upon roll call: David Erb, Treasurer Sam Baas, Firefighter Jeff Ricker, Firefighter Donald Burger, Secretary Absent: Mike Figolah, Chief Others Present: Rick Potter, Becker, Burke & Associates Cary Collins, Pension Board Attorney David Erb was elected to act as President Pro -Tem in the absence of Chief Figolah. This was motioned by Burger and Seconded by Baas. APPROVE AGENDA Ricker, seconded by Baas moved to approve the agenda as presented. Upon roll call: Ayes: David Erb, Jeff Ricker, Sam Baas and Donald Burger Nays: None Motion Carried APPROVE MINUTES Jeff Ricker made a motion, seconded by Sam Baas to approve the minutes for the regular meeting of October 16, 2006. Upon roll call: Ayes: David Erb, Jeff Ricker, Sam Baas and Donald Burger Nays: None Motion Carried Jeff Ricker made a motion, seconded by Sam Baas to approve the minutes for the regular meeting of April 23, 2007. Upon roll call: Ayes: David Erb, Jeff Ricker, Sam Baas and Donald Burger Nays: None Motion Carried Jeff Ricker made a motion, seconded by Sam Baas to approve the minutes for the regular meeting of July 23, 2007. Upon roll call: Ayes: David Erb, Jeff Ricker, Sam Baas and Donald Burger Nays: None Motion Carried TREASURER'S REPORT Ricker, seconded by Baas to approve the treasure's report of September, 2007 Upon roll call: Ayes: David Erb, Jeff Ricker, Sam Baas and Donald Burger Nays: None Motion Carried TREASURER'S REPORT (cont.) David Erb presented the financial statement for —September 30, 2007. As of September 30, 2007 the Fund had net assets with a market value totaling $42.6 million. Of this amount, $11.3 million was under management by Capital Gains and $10.8 million was under management by Segall Bryant. As if September 30, 2007 the market value of fund's portfolio was above book value of the investments by $208,025. This is up from the $252,269 unrealized loss reported last quarter. The fund's net assets increased $780,886 for the 3rd quarter. Total revenues for this quarter were $1,446,191. Of this amount, $757,886 was due to gains from the fixed income managers and $539,421 was due to gains on the equity portion of the portfolio. Expenditures for pension benefits accounted for $636,594 of total expenditures during the 3rd quarter. Other operating expensed including investment advisor and manager costs, fiduciary insurance and legal fees totaled $29,428. Disbursements for the past three months total $29,428.30. Rick Potter presented the quarterly Flash report on the pension fund portfolio. Rick asked if the meeting dates could be moved to the last Tuesday of the quarter due to conflicts in his schedule. Jeff Ricker made a motion, seconded by Sam Baas to move the meeting dates to the last Tuesday of the quarter. Upon roll call: Ayes: David Erb, Jeff Ricker, Sam Baas and Donald Burger Nays: None Motion Carried Mr. Potter brought up the fact that Becker Burke has not had a fee increase since 1994. They will be proposing a fee increase of $36,000 annually. This matter was discussed and will be deferred till next meeting. COMMITTEE REPORTS No committee reports were presented. OLD BUSINESS No Old Business was conducted. NEW BUSINESS NEW BUSINESS (cont.) Mr. Potter wants to move monies from the fixed income mangers. Jeff Ricker made a motion seconded by Sam Baas for Dave to execute moving money not to exceed $500,000. Upon roll call: Ayes: David Erb, Jeff Ricker, Sam Baas and Donald Burger Nays: None Motion Carried ADJOURNMENT Ricker, seconded by Baas moved to adjourn the meeting. The meeting was adjourned at 09:40 A.M. MPPD PENSION BOARD MEETING TUESDAY JANUARY 29, 2008 VILLAGE HALL CONFERENCE ROOM AGENDA 1. REVIEW LAST MEETINGS MINUTES 2. BECKER BURKE PRESENTATION 3. TREASURERS REPORT 4. DISABILITY APPLICANT UPDATES 5. OLD BUSINESS 6. NEW BUSINESS