Fire Department 

Glenview Firefighters' Pension Fund

Board of Trustees Meeting: 01/15/2007

Approved: 01-30-2007

Call to Order: The meeting was called to order at 8:05 a.m. in the conference room at Glenview Fire Station 6.  On roll call the following were:

Present: Village Manager Hileman, Trustee Paul Detlefs, Trustee Tom Dvorak, Board President Nick Rusher, (Retired) Board Secretary Phil Schmitt, Finance Director Wiersma, Assistant Finance Director Mike Solvig, and President George Colis, Oxford Bank

Absent: Trustee Pat Cuisinier

Minutes: President Rusher called for a review of the minutes of January 9, 2007.  Trustee Paul Detlefs made a motion to accept the minutes of January 9, 2007.  Secretary Phil Schmitt seconded and the vote was all ayes, no nays and the minutes of January 9, 2007 were accepted.

Other Business: The Board conducted interviews with the three firms listed below:

• Marquette Associates; Douglas Oest & Pat Krolak
• Wachovia Securities, LLC; Thomas McShane
• Capital Gains Incorporated; Gary Karshna & Neal Karshna

After thoroughly interviewing each consultant and after a lengthy discussion the Board agreed upon Marquette Associates with Pat Krolak as the lead for the Fire Pension Board Investment Consultant.  Manager Hileman will inform Mr. Krolak and invite him to attend the next meeting.  A contract will be prepared for Mr. Pat Krolak of Marquette Associates to sign.  The Board will then discuss with Mr. Krolak plans to start an investment policy overhaul.  

Financial Reports/Contribution Review: Finance Director Wiersma recommended the Board suspend/?put on hold? all investments with any Sudan affiliation.  Trustee Dvorak motioned to accept the recommendation. Trustee Detlefs seconded and the vote was all ayes, no nays and the motion was accepted.

Meeting Dates: The next meeting has been scheduled for Tuesday, January 30, 2007, 8:00 am in the conference room at Station 6.   

Adjournment: President Nick Rusher motioned to adjourn, Trustee Tom Dvorak seconded and the vote was all ayes, no nays and the meeting adjourned at 11:30 a.m.