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MINUTES OF THE REGULAR MEETING OF THE BOARD OF TRUSTEES <br /> ELK GROVE VILLAGE POLICE PENSION FUND <br /> October 17,2017 <br /> The regular meeting of the Board of Trustees of the Elk Grove Village Police Pension Fund was held on <br /> Tuesday,October 17,2017 at 3:30 pm at 901 Wellington Avenue,Elk Grove Village, Illinois,in Meeting <br /> Room C. <br /> CALL TO ORDER: President Christopher Torres called the meeting to order at 3:33 p,m. <br /> ROLL CALL: <br /> Present: President Christopher Torres,Assistant Secretary Warren Moody and Trustee Stephen <br /> Schmidt(quorum present) <br /> Absent: Vice President Allan Ambrose and Secretary Jason Gottwald <br /> Also Present: Christine Tromp, Elk Grove Village Finance Department; Doug Oest, Marquette <br /> Associates <br /> APPROVAL OF MEETING MINUTES: <br /> The Board reviewed the July 11, 2017 meeting minutes.A motion was made by Trustee Moody and <br /> seconded by Trustee Schmidt to approve the meeting minutes as written. Motion carried unanimously by <br /> voice vote.Trustee Ambrose and Trustee Gottwald were absent. <br /> FINANCIAL ADVISOR'S REPORTANVESTMENT REVIEW: <br /> Doug{lest from Marquette Associates provided the financial report.The Boards investments and <br /> performance were discussed.The Total Fund had a return of 3.1%for the quarter, 10.6% for fiscal 2017. <br /> There were no recommended changes at this time,and no actions taken <br /> TREASURE'S REPORT: <br /> Christine Tromp,presented the Treasure's Report.As of August 2017,the Village has received 93%of <br /> property taxes allocated to the police pension fund.The treasurer's report reflected the Fund's net assets <br /> at$81,827,142 and reflected the fund was 65.1 %funded as of May 1,2017, A vendor bill was incurred <br /> on October 1,2017 in the amount of$11,250.00 for investment consulting services from Marquette <br /> Associates.An expense was incurred on October 1, 2017 in the amount of$795.00 for membership dues <br /> to Illinois Public Pension Fund Association.The reports were received and all questions were answered <br /> by Ms. Tromp.A motion to accept the treasurer's reports, including the vendor checks, expenses and <br /> pension benefits,was made by Trustee Schmidt and seconded by Trustee Moody. <br /> AYES: Trustees Moody, Schmidt,Torres <br /> NAYS: None <br /> ABSENT: Trustee Ambrose and Trustee Gottwald <br /> RETIREMENT APPLICATION: <br /> The Board was notified that Officer Kristina Jedlink has resigned effective September 25,2017,and <br /> Sergeant Randall Nelson was scheduled to retire on November 3,2017.An interim meeting of the Board <br /> may be scheduled to process these two events. <br /> TRAINING STATUS/UPDATES: <br /> It was reported that Trustee Moody completed 6.5 hours of training on September 29,2017. <br /> PUBLIC COMMENT: <br /> None <br />