Trustees authorize access to longstanding investment account after questions about past transfers

The University Park Board on May 27 approved a resolution authorizing village officials to be signatories on a longstanding Illinois Metropolitan Investment Fund account so staff can obtain statements and review past transactions.

Trustee Karen Lewis explained the standard authorization mirrors other village accounts and that the village was unaware of electronic statements being issued to prior managers. Trustee Theo Brooks and others said the account dates to about 2018 and that they had received reports—informal and secondhand—that money was transferred out of the account during previous administrations.

"I heard money was transferred out of that account," Trustee Brooks said during the discussion, explaining his concern about prior board years and missing documentation.

Trustees emphasized the immediate aim is administrative: to get proper signatory access so current staff, including the clerk and finance staff, can review activity and bring accurate records to the board. The resolution passed on a roll-call vote.

Board members did not allege criminal activity on the record; they asked staff to obtain account records and to report back once statements and documentation are available. Trustee Brooks requested corrections to the trust paperwork to reflect the proper spelling of an authorized signatory.

The board assigned a temporary resolution number at the meeting and directed village staff to follow up to obtain account statements and confirm historical transfers or balances.