CITY OF PARK RIDGE POLICE PENSION FUND
QUARTERLY MEETING JULY 25TH 2007

President Kappler called the meeting to order at 7:07 PM. A roll call of the trustees was taken. Trustees Laura Kappler, Jon Moehrlin, Richard Paul, Carl Brauweiler, and Tom Ahlbeck were present. Also in attendance was Mary Tomanek from Smith Barney and board attorney Charles Atwell.

Trustee Brauweiler made a motion to accept the minutes from the April 24th 2007 board meeting. Kappler seconded the motion. All were in favor- motion passed.

Mary Tomanek from Smith Barney presented the board the quarterly financial report. No financial manager changes were recommended at this time. Mary Tomanek presented international mutual funds choices for the board to look over for possible future investments. Mary Tomanek informed the board that a rebalancing of our funds needed to be done to comply with the Illinois Pension Code. Carl Brauweiler made a motion to move equity portion from 41% of total fund to 35 % (bringing fund into compliance). The 6% would be placed into two separate mutual funds, with 60 % going into American Funds Europac Growth and 40% into Alliance Bernstein International Value (per Smith Barney’s recommendations). Dick Paul seconded the motion. All were in favor- motion passed.

Carl Brauweiler made a motion to accept the financial report. Jon Moehrlin seconded the motion. All were in favor- motion passed.

Kappler and Moehrlin presented the board with information about to newly hired Park Ridge Police officers, Chiffon M. Harris and Scott D. Torkleson. Dick Paul made a motion to accept the officers into the fund. Carl Brauweiler seconded the motion. All were in favor- motion passed.

Sgt. Chris Lekan was to retire on August 3, 2007. Carl Brauweiler made a motion to accept his application for a pension subject to final verification of his salary benefits. Dick Paul seconded the motion. All were in favor- motion passed.

President Kappler noted that former officer Pucillo decided to sign over his check for his pension contributions over to the city of Park Ridge.

Board Attorney Charles Atwell updated the board on the Pat Duggan disability pension.

Board Attorney Atwell also spoke about rules and regulations, dealing with general rules, hearing processes, and elections.

Dick Paul stated that the Pension board web site was up. User will be able to go to prpolicepensionfund.org and view agendas, notices, and past meeting minutes. He will continue to work on the site to add more to it.

President Kappler noted that the electronic filing was done.

President Kappler noted that there was a new accounting fee structure for Lauterbach and Amen. Carl Brauweiler made a motion to accept this new fee schedule. Tom Ahibeck seconded the motion. All were in favor- motion passed.

Carl Brauweiler made a motion to keep the offices the same; Laura Kappler Board
President, Tom Ahlbeck Board Vice President, Jon Moehrlin Board Secretary, Dick Paul
Assistant Board Secretary, and Carl Brauweiler Board Treasurer. Dick Paul seconded the motion. A roll call was taken. All were present. All were in favor- motion passed.

The board drafted a letter to the Mayor requesting that he keep Tom Ahibeck on the board.

President Kappler made a motion to adjourn. Dick Paul seconded the motion. A final roll call was taken. All present. All were in favor- meeting adjourned.