HomeMy WebLinkAbout07/26/2011 FPFB MinutesMinutes of the Regular Meeting of the
Mount Prospect Firefighters Pension Fund Board
July 26, 2011
I. CALL TO ORDER — ROLL CALL
Dave Erb called the meeting to order at 8:45 a.m.
Present upon roll call:
Dave Erb — Treasurer
Joe Knoll — Secretary /Firefighter
Sam Baas — Retired Firefighter
Absent: John Malcolm — President
Jeff Ricker — FOIA/OMA Officer /Firefighter
Also present was Rick Potter & Jeremy Seeman of Becker, Burke Associated
and Carry Collins the Pension Fund Attorney.
Motion by Sam Baas, seconded by Joe Knoll, to appoint Dave Erb President Pro
Tem.
Motion was approved.
II. APPROVE AGENDA
Motion by Sam Baas, seconded by Joe Knoll to approve the agenda as
submitted.
Motion was approved.
III CITIZENS TO BE HEARD
None
IV. APPROVE MINUTES
A. Regular Meeting, April 26, 2011
Joe Knoll, seconded by Sam Baas moved to approve the minutes as
submitted.
Motion was approved.
B. Special Meeting May 16, 2011
Joe Knoll, seconded by Sam Baas moved to approve the minutes as
submitted.
Motion was approved.
V. TREASURER'S REPORT
A. Approve Treasurer's Report.
Dave Erb handed out a copy of the Mount Prospect Firefighters Pension Fund
Financial report for the period April 1, 2011 and ending June 30, 2011. Mr.
Erb outlined the information in the report.
As of June 30, 2011 the Fund had net assets with a market value totaling
$45.0 million.
Motion by Sam Baas, seconded by Joe Knoll to accept the Treasurer's Report
as presented.
Motion was approved.
B. Approve Disbursements
Motion by Sam Baas, seconded by Joe Knoll to accept the list as presented.
Motion was approved.
C. Quarterly Financial Report
Mr. Erb asked Mr. Potter from Becker, Burke Associates to provide the
quarterly financial report. Mr. Potter went through the entire document
highlighting pertinent facts, charts and graphs.
Motion by Sam Baas, seconded by Joe Knoll to accept the Quarterly
Financial Report as presented.
Motion was approved.
VI. COMMITTEE REPORTS
A. Medical Committee.
Nothing to report.
B. Legal Committee.
Nothing to report.
VII. OLD BUSINESS
A. Rules & Regulations updates were presented by Attorney Collins and will be
discussed at the next Regular Meeting.
B. The Investment Policy was presented by Becker, Burke Associates with the
changes discussed at the last meeting.
Motion by Joe Knoll, seconded by Sam Baas to accept the Policy as
presented.
Motion was approved.
C. Trustee Training Requirements update for the period 5/1/11 — 4/30/12
John Malcolm - 0 hours
Dave Erb -
0 hours
Jeff Ricker
- 0 hours
Sam Baas
- 0 hours
Joe Knoll -
0 hours.
VIII. NEW BUSINESS
A. Request for Benefits /Refunds
None.
IX. OTHER NEW BUSINESS
None.
X. ADJOURNMENT
Motion by Joe Knoll, and seconded by Sam Baas, to adjourn the meeting.
Motion was approved at 9:37 a.m.
The next meeting will be October 25, 2011.
Respectfully Submitted
Joe Knoll
Secretary
Minutes approved at the October 25, 2011 meeting.