CITY OF PARK RIDGE POLICE PENSION FUND

QUARTERLY MEETING OCTOBER 22, 2008

President Kappler called the meeting to order at 705pm.  A roll call of the trustee was taken.  Present were Laura Kappler, Carl Brauweiler, Tom Ahlbeck, Richard Paul and Robert Kristie.  Mary Tomanek from Smith Barney and board attorney Charles Atwell were also in attendance.

Laura Kappler made a motion to accept the minutes from July 30th, 2008 board meeting. Richard Paul seconded the motion.  All were in favor.  Motion passed.

Mary Tomanek from Smith Barney presented a financial report to the board through September 30th, 2008.  Mr. Brauweiler commented on total equity loss and the last quarter losses and the condition of the market.  The board then discussed the trends of the market and how we need to react and prepare for fund movement if needed.  It was also noted that approximately 3.4 mil was moved into a Dryfus government fund during the first week in October due to market volatility.  A motion was made to accept this move by Thomas Ahlbeck and seconded by President Kappler.  All were in favor motion accepted.  A motion was made to accept the financial report by Carl Brauweiler and seconded by Richard Paul.   A roll call vote was unanimous of all board members.

President Kappler brought up that the pension laptop needed to be replaced.  The laptop was purchased in late 2004 and currently is out of warranty and not working.  A motion was made by Tom Ahlbeck to purchase a new one at a cost to not exceed $1,500.00 dollars.  A roll call vote was taken and unanimously approved. 

Mr Atwell talked about Patrick Duggan and said he was in contact with the city.  He said he hasn’t heard from Buz Hill lately but will try to find out where the city stands on Mr Duggan. 

President Kappler made a motion to adjourn at 900pm.  All were in favor motion passed. 

Minutes were complied by President Kappler

Next meeting January 26th, 2009.