PARK RIDGE POLICE PENSION FUND
QUARTERLY MEETING APRIL 20th, 2006

President Kappler called the meeting to order at 7:05pm. A roll call of the trustees was taken. Present was Treasurer Carl Brauweiler, Trustees Jon Moehrlin and Tom Ahlbeck. Trustee Doug Dostert was absent. Mary Tomanek from Smith Barney was also present for the meeting.

A motion was made to accept the minutes from January 4, 2006 by Jon Moehrlin and seconded by Tom Ahlbeck. All were in favor — motion passed.

President Kappler advised the board that the IMRF transfers had taken place and were in the final stages of the transfers. Officer Smith, Taylor and Sgt Lekan were able to successfully complete the transfers and their files and hire dates will be adjusted.

Mary Tomanek from Smith Barney advised that since the board wanted to diversify the investments she gave the board a number of companies we could invest in. The allocation would include money managers from Voyageur, Atalanta and Cambiar added to the portfolio. A motion was made to add the advisors to the proposed allocation starting after the fiscal year ends April 30, 2006. Jon Moehrlin seconded the motion and all were in favor of the motion. Paper work would be forth coming to enact the changes.

There was discussion from Tom Ahibeck to ladder some of the current treasuries we have so that they are spread out throughout the year. This would also help with cash flow needs of the fund.

Treasurer Brauweiler noticed that the equity investments appear to be over 35 percent and asked Mary Tomanek if that should be re-balanced. She said she would check into this and see if it had to be. Mary said the difference was not caused by anything we did but by the increase of the investments. The bond interest rate has gone down slightly which caused increase of equities to go up because of rising interest rates. President Kappler relayed the state has advised during recent training that you can’t put any more money into equities when this happens.

President Kappler attended the training on January 27th hosted by the IPPFA in DesPlaines. The retiree election results were tabulated and Richard Paul won over Robert Colangelo for the retiree position on the board.
A motion was made to adjourn at 8:45pm by Laura Kappler and seconded by Tom Ahlbeck. All were in favor motion passed.

Next meeting July 17th, 2006.

These minutes were compiled by President Kappler.