Firefighters Pension Board Fund

Geneva Firefighters Pension Fund Meeting Minutes – April 10, 2014 Present: Jerry Koster, Pat McQueeny, Tom Dahl, Steve Olson, Frank Johnson Also Present: Craig Larsen, AHC Advisors The meeting was called to order by President Koster at 9:00 am in the fire department conference room. 1. Review minutes from previous meetings held January 23, 2014. President Koster asked the Trustee’s to consider the meeting minutes for January 23, 2014. They were previously distributed in electronic form to all board members. Tom Dahl Moved to accept the minutes as presented 2nd by Pat McQueeny Ayes 5 Nays 0 2. Canvass Ballots from April 8th Trustee election. President Koster opened the ballot box and counted the ballots in the presence of the Board members. The tally was: Steve Olson 8 Fred Kriwanek 1 Steve Olson has been re-elected to a three-year term from May 1, 2014 through April 30, 2017. 3. Elect positions of Board President and Board Secretary. President Koster opened the floor for nominations for the positions of Board president and Board Secretary. Frank Johnson nominated Jerry Koster for president and Steve Olson as secretary for the period from May 1, 2014 through April 30, 2015. 2nd by Tom Dahl Ayes 5 Nays 0 4. Consider extension of contract for accounting services with the firm of Lauterbach & Amen. President Koster reviewed a letter received from the firm of Lauterbach & Amen dated March 10, 2014 outlining the scope of services the firm will provide for the years ending April 30, 2015, 2016, and 2017 with a matrix of charges for each of those years. Frank Johnson moved to accept the proposal from Lauterbach & Amen as outlined in the March 10, 2014 letter. 2nd by Pat McQueeny Ayes 5 Nays 0 5. Review performance of pension fund and investment and recent transactions. President Koster turned the floor over to Craig Larsen for an update on the Fund assets and recent performance. A. Craig the reviewed the recent performance of the Fund with the understanding that restructuring of the investments is newly in place. The Market value of the Fund at this time is $12,373,348 which is an increase of $156,192 since the last quarter. 6. Consider bills for payment. Bills for payment total $6,331.67. (list attached) Tom Dahl moved to approve the bills as presented. 2nd by Pat McQueeny Ayes 5 Nays 0 5. Entertain comments from trustees. Frank Johnson announced that he would not run for re-election to the Board at the end of his term 6. Entertain comments from public attendees (five minutes limit per attendee). None President Koster noted the next scheduled meeting of the Board will be July 10, 2014 at 9:00 am. Pat McQueeny moved to adjourn the meeting at 10:00 am 2nd by Tom Dahl Ayes 4 Nays 0 Absent 1 Respectfully submitted Steve Olson