CITY OF PARK RIDGE POLICE PENSION FUND
QUARTERLY MEETING OCTOBER 30, 2007

President Kappler called the meeting to order at 705 PM. A roll call of the trustees was taken. Present were, Laura Kappler, Jon Moehrlin, Richard Paul, Tom, Ahlbeck, and Carl Brauweiler. Also in attendance was Mary Tomanek from Smith Barney and board attorney Charles Atwell.

Trustee Braulweiler made a motion to accept the amended minutes from the July 25th, 2007 board meeting. Dick Paul seconded the motion. All were in favor-motion passed.

Mary Tomanek from Smith Barney presented the financial report. 
On September 17th, 2007 Mary Tomanek recommended to the board to make adjustments to our portfolio to offset volatility happening in the market. She recommended transferring $600,000 from the Madison mid cap fund, $400,000 form the Alliance large growth fund, and $500,000 from the Cambiar large value fund and to transfer it all into the Atalanta Sosnoff large core fund. 
Board members Carl Brauweiler, Laura Kappler, Jon Moehrlin, Richard Paul, and Tom Ahlbeck all were contacted and all voted in favor of the transfer immediately. Carl Brauweiler made a motion to ratify the money transfers on 09/17/07 from mid cap to large. Rich Paul seconded the motion. All were in favor- motion passed. 

Mary Tomanek recommended to bring our allocation in mid-caps down from 14% to 9% and to bring out large cap up from 66% to 71%. To do this we would transfer approximately $600,000 from the Madison mid-cap fund to the Aatalanta Sosnoff large core fund. Carl Brauweiler made a motion to accept the recommendation. Tom Ahlbeck seconded the motion. A roll call vote was taken. All were present. All voted in favor of the motion-motion passed.

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

Police Officer Lisa Smith retired on 09/04/07 as a deferred pensioner. It will be brought up for board approval at the next board meeting after her final salary is verified.

Board Attorney Charles Atwell advised the board that pensioner Pat Duggan (disability pension) is due for another annual physical as required by statute.

Mr. Atwell presented to the board a rough draft of board Rules and Regulations for the board to discuss. The matter was tabled until the next quarterly meeting.

President Kappler advised that that she signed off on limited power of attorney for the board accounting firm Lauterback and Amen for IRS purposes.

Board Attorney Charles Atwell advised the board of a statute change regarding a quorum of 3. If only 3 board members are present, all votes must be unanimous for a motion to pass.