Minutes - 05/11/2006 - Police Pension Fund BoardMINUTES OF THE MAY 115 2006 SPECIAL MEETING
OF THE BOARD OF TRUSTEES OF THE OAK BROOK
POLICE PENSION FUND APPROVED AS WRITTEN
ON AUGUST 15, 2006.
SWEARING IN CEREMONY
Village Clerk Linda Gonnella administered the oath of office to Robert Birdsall
and Michael Hall who were recently elected to the Oak Brook Police Pension
Fund Board of Trustees.
2. ELECTION OF OFFICERS
Village Clerk Gonnella requested a motion from the floor to elect a President to
the Oak Brook Police Pension Fund Board of Trustees.
Motion by Secretary Feldman, seconded by Vice President Hall, to nominate
Robert Birdsall for President of the Oak Brook Police Pension Fund Board of
Trustees. No further nominations were made from the floor. VOICE VOTE:
Motion carried.
President Birdsall requested a motion from the floor to elect a Vice President to
the Oak Brook Police Pension Fund Board of Trustees.
Motion by Secretary Feldman, seconded by President Birdsall, to nominate
Michael Hall for Vice President of the Oak Brook Police Pension Fund Board
of Trustees. No further nominations were made from the floor. VOICE VOTE:
Motion carried.
3. CALL TO ORDER
The Special Meeting of the Board of Trustees of the Oak Brook Police Pension
Fund was called to order by President Birdsall at 7.05 p.m. in the Forest View
Room, Hyatt Lodge, 2815 Jorie Boulevard, Oak Brook, IL.
4. ROLL CALL
Recording Secretary Gonnella called .the roll with the following persons
PRESENT- President Robert Birdsall, Vice President Michael Hall and
Secretary Alan Feldman.
ABSENT: Assistant Secretary Brian Clingen and Trustee Richard
Badowksi.
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POLICE PENSION FUND Minutes
4. IN ATTENDANCE: Darrell J. Langlois, Finance Director; Thomas Sawyer,
Executive Vice President; Terese M. Krafcheck and Douglas
Madigan, Vice Presidents of Oak Brook Bank.
5. INVESTMENT MANAGEMENT PRESENTATION
Tom Sawyer gave the investment management presentation for Oak Brook
Bank. The money market return for 2005 was 3.05 %, fixed income return
2.11 % equity return 8.71 % with a total account return of 4.77 %. Year -to -date
as of April 30, 2006 the money market return is 1.41%, fixed income - 0.52 %,
equity return 8.75% with a total account return of 3.38 %. The long -term
portfolio performance since inception for the annual performance was 6.11 %,
stocks 4.79 %, bonds 5.86% and T -bills 3.48 %. The portfolio allocations are
55% fixed income, 26% large cap U.S. stocks, 9% small cap U.S. stocks, 7%
international stocks, real estate investments 2% and cash 1%.
The portfolio structure of the market value of The Fund for large cap stocks is
$6,455,500, small cap stocks $2,347,997, international stocks $1,839,972, real
estate investment trusts $566,070 for a total common stock market value of
$11,209,539. The fixed income is $13,771,028, money market of $143,536 for
a total portfolio of $25,124,103. The total estimated annual income is
$737,006.
Doug Madigan gave a brief economic, fixed income and the equity commentary
of the quarter in review and looking forward.
6. ADJOURNMENT
Motion by Vice President Hall, seconded by Secretary Feldman, to adjourn the
meeting at 7:18 p.m. VOICE VOTE: Motion carried.
ATTEST:
s /Alan Feldman
Secretary
s /Linda K. Gonnella
Recording Secretary
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