HomeMy WebLinkAboutFIRE PENSION - 08/04/2003 - MINUTES OF BOARD MEETING
ELK GROVE FIREFIGHTER'S PENSION FUND
August 4, 2003
CALL TO ORDER
A meeting of the Firefighter's pension fund was held on August 4, 2003 in the Fire
Department Administration Office located at 901 Brantwood Avenue. The meeting was
called to order by President Brian McVeigh at 7:00 p.m.
ROLL CALL
On roll call the following members were present: Brian McVeigh,Nathan Gac, I-Elda
Ingebrigtsen, Mark Percudani and Benard Goss. Absent were: Douglas Goostree, Ann
Walsh, Craig Johnson and George Knickerbocker. Also in attendance was pension fund
member James Forde.
MINUTES
a motion was made by Nathan Gas to accept the minutes of the meeting held on May 5,
2003. Brian McVeigh seconded the motion. The motion passed unanimously.
REPORT OF INVESTMENTS
In Mary Tomaneks absent Hilda submitted a quarterly review/report of the Elk Grove
Village Fire Pension Fund investments with Solomon Smith Barney. She reviewed and
explained its contents to its members.
Brian McVeigh made the motion to move money(up to 1.5 million dollars)from the
Solomon Smith Barney money market account, into the fund managed by Pacific Income
Advisors. Doing so would provide some needed support to our 5-10 year segment.
Nathan Gac seconded the motion. The motion passed unanimously. The dollar amount
would be subject to Marys recommendation.
TREASURER'S REPORT
Treasurer Hilda Ingebrigtsen submitted a balance sheet, open investment listing and
disbursement register. Hilda reviewed and explained the contents to the members.
A motion was made by Nathan Gac to accept the Treasurer's report. Mark Percudani
seconded the motion. The motion passed unanimously.
Hilda stated that the 2002 report was filed with the department of insurance, But that the
department off insurance was not ready for it. This is all done electronically.
Hilda stated that a resident made a donation of$25.00. This was added to the pension.
Fund.
OLD BUSINESS
Hilda stated that the Finance Dept. has received the death certificate from the John
Serbec family. Hilda will forward it to Mark Percudani for the John Serbecs Fire Pension
file.
It should be noted that the Election of Officers was held for the remainder of this year
and next year until the next election that will take place in April of 2004. Brian McVeigh
was elected President. Nathan Gac was elected Vice-President and Mark Percudani was
elected Secretary.
NEW BUSINESS
President Brian McVeigh presented the board with the application and all supporting
documentation of Joseph Albert. A motion was made by Mark Percudani to accept
Joseph Albert into the pension fund. The motion was seconded by Nathan Gac. The
motion passed unanimously.
ADJOURNMENT
Bernard Goss made a motion to adjourn the meeting. Nathan Gac seconded the motion.
The motion passed unanimously. The meeting was adjourned at 7:20 p.m.
The next meeting will be Monday, November 3, 2003, at 7:00 PM, at the Fire
Administration Building.
Respectfully submitted by:
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Mark W. Percudani, Sr.
Secretary Firefighter's Pension Fund