City of Peoria Firemen’s Pension Fund Board of Trustees met April 24.
Here are the minutes provided by the board:
A Rescheduled Regular Meeting of the Board of Trustees of the Firemen's Pension Fund of Peoria, Illinois, will be held this date at City Hall, Room 404, Peoria, Illinois at 4:00 P.M. with proper notice having been given, for the purpose of conducting regular Firemen's Pension Fund business.
ROLL CALL
Roll Call showed the following Board members present: Higgins, Smith, Tarr, Tomblin, President Troglio - 5.
Others present: Deputy City Treasurer Kayla Casey; Active Trustee-Elect Brandon Pinkston; Inactive Trustee-Elect Ralph Phillips and Chief Deputy City Clerk Trina Bonds.
INVOCATION
A moment of silence was held in remembrance of those Firefighters who have served our community.
MINUTES
Recommendation to Approve the Minutes of the Regular Board Meeting held on March 27, 2023, as printed.
Trustee Smith moved to approve the minutes of the Regular Board Meeting held on March 27, 2023; seconded by Trustee Tomblin.
Approved by viva voce vote.
REGULAR BUSINESS
ITEM NO. 1 MONTHLY PORTFOLIO PERFORMANCE REVIEW from MARQUETTE ASSOCIATES (FPIF) dated February 28, 2023; and the MONTHLY STATEMENT of RESULTS from NORTHERN TRUST, with Request to Receive and File.
President Troglio moved to receive and file the Monthly Portfolio Performance Review from Marquette Associates dated February 28, 2023, and the Monthly Statement of Results from Northern Trust; seconded by Trustee Smith.
Approved by viva voce vote.
ITEM NO. 2 Report from Fire Marshal Shawn Sollberger of Pension Fund Contributions, which were made by payroll deductions during the MONTH of MARCH 2023, from the active members of the Peoria Fire Department and which checks were turned in to the City Treasurer's Office by Director of Finance/Comptroller, with Recommendation to Concur and Receive and File.
Trustee Tomblin moved to concur and place on file the Fire Marshal's Report for March 2023; seconded by Trustee Smith.
Approved by viva voce vote.
ITEM NO. 3 Request to APPROVE & RATIFY the following BILLS:
Pensions for April 2023 (dated April 28, 2023 $1,573,153.66
SIKICH, LLP - Prof Services- Audit Year Ended 12/31/22 6,000.00
Lauterbach & Amen PC - Prof Svcs - February 2023 3,620.00
Lauterbach & Amen PC - Prof Svcs - Year End Work Papers 3,550.00
Lauterbach & Amen PC - Prof Svcs - 2022 1099s 1,010.00
Leonard A. Unes Printing- Env, Letterhead, & Election Ballots 471.00
Ed Olehy - Election Judge *25.00
John Duke - Election Judge *25.00
Mike Lierle - Election Judge *25.00
Thomas Carr- Election Judge *25.00
*All four (4) $25 Election Judge checks were previously paid on 3/31/2023.
SUB-TOTAL FOR APRIL $1,587,904.66
APPROVE GRAND TOTAL FOR APRIL $1,587,904.66
Trustee Tomblin moved to approve and ratify the bills for April 2023, in the amount of $1,587,904.66; seconded by Trustee Smith.
Approved by roll call vote.
Yeas: Higgins, Smith, Tarr, Tomblin, President Troglio - 5;
Nays: None.
ITEM NO. 4 QILDRO CALCULATION COURT ORDER for Leigh Ann Hughes, Previously
Married to Firefighter MICHAEL R. HUGHES, with a first benefit payment date occurring at least 30 days after APRIL 6, 2023 (Receipt of Order), with Request to APPROVE.
In discussion, Trustee Tarr reported last month the Board approved the QILDRO.
Trustee Smith moved to approve the QILDRO Calculation Order for Leigh Ann Hughes; seconded by Trustee Higgins.
Approved by roll call vote.
Yeas: Higgins, Smith, Tarr, Tomblin, President Troglio - 5;
Nays: None.
ITEM NO. 5
MONTHLY FINANCIAL REPORT from LAUTERBACH & AMEN, LLP for the Month of FEBRUARY 2023, which Includes the STATEMENT OF PLAN NET ASSETS, STATEMENT OF CHANGES IN PLAN NET ASSETS, SUMMARY of CASH AND INVESTMENTS, BALANCE SHEET, REVENUES and REVENUE REPORT, EXPENSES and EXPENSE REPORT, PAYROLL JOURNAL, and VENDOR CHECKS REPORT, with Recommendation to APPROVE.
Trustee Tomblin moved to approve the monthly financial reports from Lauterbach & Amen, LLP for the month of February 2023, which includes the Statement of Plan Net Assets, Statement of Changes in Plan Net Assets, Summary of Cash and Investments, Balance Sheet, Revenues and Revenue Report, Expenses and Expense Report, Payroll Journal, and Vendor Checks Report; seconded by President Troglio.
Approved by roll call vote.
Yeas: Higgins, Smith, Tarr, Tomblin, President Troglio - 5;
Nays: None.
ITEM NO. 6 REQUEST for APPROVAL of a RESOLUTION Authorizing City Treasurer
Stephen Morris the POWER TO INVEST, and Authorize City Treasurer Morris to Maintain a Minimum of $10,000.00 in the HARRIS BANK ACCOUNT.
Deputy City Treasurer Casey reported there was a $15,251,649.11 bank balance at Morton Community Bank. She noted the second distribution of PPRT (Personal Property Replacement Taxes) monies was received in the amount of $1,459,451.77 and she reported they were almost half funded for the year. She said the City of Peoria's monthly contribution of $207,864.58 and the monthly $1.5 million was received on April 15th.
After brief comments, Trustee Smith moved to approve a Resolution authorizing City Treasurer Stephen Morris the power to invest and authorize City Treasurer Morris to maintain a minimum of $10,000.00 in the Harris Bank Account; seconded by Trustee Higgins.
Approved by roll call vote.
Yeas: Higgins, Smith, Tarr, Tomblin, President Troglio - 5;
Nays: None.
UNFINISHED BUSINESS
ITEM NO. 7 CONTINUED PRESENTATION by MARQUETTE and/or NORTHERN TRUST
for a Year-End Review of the Fire Pension Portfolio, with Request to with Request to Receive and File.
In discussion, President Troglio stated he did not follow-up on the Presentation by Marquette and/or Northern Trust for a Year-End review of the Fire Pension Portfolio. He said it would now be up to Trustee Phillips and/or Trustee Smith to make contact.
Trustee Smith moved to receive and file the discussion regarding the presentation by Marquette and/or Northern Trust for a Year-End Review of the Fire Pension Portfolio; seconded by Trustee Higgins.
Approved by viva voce vote.
NEW BUSINESS
FAREWELL BID TO JOE TROGLIO AND KENT TOMBLIN
President Troglio thanked the Board for allowing him to serve for 21 years. He said it had been a pleasure and closes another chapter of his life. He welcomed back Ralph Phillips to the Board.
Trustee Tomblin also thanked Staff and everyone on the Board. He wished President Troglio the best and he said he had nothing but respect for him.
EXECUTIVE SESSION
It was determined that an Executive Session was not needed at this time.
CITIZENS' OPPORTUNITY TO ADDRESS THE BOARD OF TRUSTEES
It was determined that there were no citizens to address the Board of Trustees.
ADJOURNMENT
President Troglio moved to adjourn the Rescheduled Regular Firemen's Pension Board Meeting; seconded by Trustee Tomblin.
Approved by roll call vote.
Yeas: Higgins, Smith, Tarr, Tomblin, President Troglio - 5;
Nays: None.
The Rescheduled Regular Firemen's Pension Board meeting adjourned at 4:19 P.M.
https://il-peoria.civicplus.com/AgendaCenter/ViewFile/Minutes/_04242023-380
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