Huntley police pension fund reports $19.04 million in assets, approves $10,675 in disbursements and updates signers
November 01, 2024 | Huntley City, McHenry County, Illinois
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
The Huntley Police Pension Fund Board of Trustees on July 25 accepted the monthly financial report for the five-month period ending May 31, 2024, showing a net position held in trust of $19,044,223.51 and a change in position of $712,681.04.
On a motion by Trustee Timothy Heagney, seconded by Trustee Laura Mraz, the board accepted the report and approved disbursements totaling $10,675.70 for the period March 1 through May 31, 2024. The motion passed by roll call vote with Trustees Heagney, Hewitt, Lanute and Mraz voting aye; Trustee Cathy Haley was absent.
The board reviewed the IPOPIF investment performance review prepared by Verus Advisory, Inc., for the period ending May 31, 2024, which noted a one-month total net return of 2.9% for the IPOPIF pooled fund. The State Street monthly summary for the Huntley fund showed a market value of $18,895,763.46 and a month-to-date net return of 2.82% as of May 31, 2024.
The Cash Management Policy was reviewed and the board determined no policy changes were necessary.
For administrative housekeeping, the board approved updates to the BMO Harris Bank account signers, designating Trustee Heagney, Trustee Joseph Lanute and Village Assistant Director of Finance Kristi Ward-Nickels as authorized signers and instructed Lauterbach & Amen to submit the completed signature forms to the bank. The board also voted to remove Trustee Cathy Haley and to designate Kristi Ward-Nickels as the fund’s authorized agent for the Enterprise Cash Flow Module and to name Lauterbach & Amen representative Kelly Calgaro as an authorized representative for MyStateStreet.com access; L&A was directed to submit the form to IPOPIF on behalf of the fund.
Attorney Jerry Marzulo raised the annual independent medical examination for James Daley; the board discussed the IME and deferred further action to the next regular meeting. The meeting adjourned at 5:12 p.m.; the next regular meeting is scheduled for Oct. 24, 2024 at 4:00 p.m.
On a motion by Trustee Timothy Heagney, seconded by Trustee Laura Mraz, the board accepted the report and approved disbursements totaling $10,675.70 for the period March 1 through May 31, 2024. The motion passed by roll call vote with Trustees Heagney, Hewitt, Lanute and Mraz voting aye; Trustee Cathy Haley was absent.
The board reviewed the IPOPIF investment performance review prepared by Verus Advisory, Inc., for the period ending May 31, 2024, which noted a one-month total net return of 2.9% for the IPOPIF pooled fund. The State Street monthly summary for the Huntley fund showed a market value of $18,895,763.46 and a month-to-date net return of 2.82% as of May 31, 2024.
The Cash Management Policy was reviewed and the board determined no policy changes were necessary.
For administrative housekeeping, the board approved updates to the BMO Harris Bank account signers, designating Trustee Heagney, Trustee Joseph Lanute and Village Assistant Director of Finance Kristi Ward-Nickels as authorized signers and instructed Lauterbach & Amen to submit the completed signature forms to the bank. The board also voted to remove Trustee Cathy Haley and to designate Kristi Ward-Nickels as the fund’s authorized agent for the Enterprise Cash Flow Module and to name Lauterbach & Amen representative Kelly Calgaro as an authorized representative for MyStateStreet.com access; L&A was directed to submit the form to IPOPIF on behalf of the fund.
Attorney Jerry Marzulo raised the annual independent medical examination for James Daley; the board discussed the IME and deferred further action to the next regular meeting. The meeting adjourned at 5:12 p.m.; the next regular meeting is scheduled for Oct. 24, 2024 at 4:00 p.m.
Don't Miss a Word: See the Full Meeting!
Go beyond summaries. Unlock every video, transcript, and key insight with a Founder Membership.
✓
Get instant access to full meeting videos
✓
Search and clip any phrase from complete transcripts
✓
Receive AI-powered summaries & custom alerts
✓
Enjoy lifetime, unrestricted access to government data
30-day money-back guarantee
