Firefighters Pension Board Fund

Geneva Firefighters Pension Fund Meeting Minutes – July 10, 2014 Present: Jerry Koster, Pat McQueeny, Tom Dahl, Steve Olson, Frank Johnson Also Present: Craig Larsen, Jorie Pitt AHC Advisors, Tom Sawyer, Sawyer – Falduto, Inc. 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 April 10, 2014. President Koster asked the Trustee’s to consider the meeting minutes for April 10, 2014 as presented. Frank Johnson Moved to accept the minutes as presented 2nd by Jerry Koster Ayes 5 Nays 0 2. Introduce and install new Board of Trustees Member. President Koster reviewed the results of the balloting conducted on July 8, 2014 and canvased on July 8, 2014 as follows: Phil Affrunti 3 Michael Benz 2 Chad Clark 1 Mark Einwich 1 Gavin Hayes 1 Daniel Maluta 2 Phil Affrunti was declared the winner and will assume the unexpired term of Jerry Koster which runs until April 17, 2015 starting with this meeting. Tom Dahl will arrange for changing the signature cards on the fund bank accounts to take Jerry off. Additionally, AHC will prepare the forms necessary to take Jerry off the investment accounts. Tom Dahl moved to accept the results of the election and seat Phil Affrunti on the Geneva Firefighters Pension Board. 2nd by Frank Johnson Ayes 5 Nays 0 3. Elect position of Board President The next item was to accept nominations for the position of Board President. Steve Olson nominated Tom Dahl. There were no further nominations from the floor. Ayes 5 Nays 0 4. Elect position of Board Secretary if necessary This item does not require action as Steve Olson will continue to serve as secretary. 5. Review performance of pension fund and investment and recent transactions. The firms of AHC and Sawye-Falduto to present overview. Tom Sawyer presented the 2nd Quarter Performance Report dated 6/30/2014 for the Fund and prided an overview of the Fund status after which he left the meeting. Craig Larsen of AHC Advisors presented a Quarterly Report and highlighted to performance of the Mutual Funds that ranged from 2% to 7% over the reporting period. Overall, the investments have had a YTD yield of 4.41%. He does not recommend any changes at this time. Copies of both reports will be placed on file in the Fund records. 6. Consider bills for payment Bills for payment totaled $8,302.48. A breakdown is attached to these minutes as an exhibit. Phil Affrunti moved to approve payment of the bills as presented. 2nd by Pat McQueeny Ayes 5 Nays 0 7. Entertain comments from trustees There were no comments 8. Entertain comments from public attendees (five minutes limit per attendee). There were no comments. Steve Olson reminded the trustee’s the next scheduled meeting will be October 23, 2014 Pat McQueeny moved to adjourn 2nd by Frank Johnson Ayes 5 Nays 0 Respectfully Submitted Steve Olson Secretary