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Huntley Police Pension Board accepts financial report, approves $24,883.69 in disbursements and reviews IPOPIF performance
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Summary
The board accepted the monthly financial report showing a net position of $22,171,181.38 as of May 31, 2025, approved disbursements of $24,883.69, and reviewed IPOPIF and State Street performance reports showing recent positive returns.
At the July 24, 2025 meeting, Lauterbach & Amen presented the monthly financial report for the five-month period ending May 31, 2025. The board recorded a net position held in trust for pension benefits of $22,171,181.38, a change in position of $977,928.75 for the reported period.
The board reviewed cash analysis, revenue and expense reports, member contribution records and payroll journals. A motion by Trustee Michael Hewitt, seconded by Trustee Laura Mraz, accepted the monthly financial report and approved disbursements totaling $24,883.69; the motion carried by roll call vote (AYES: Hewitt, Lanute, Mraz, Haley; ABSENT: Heagney).
Board members also reviewed investment performance prepared by Verus Advisory, Inc. for IPOPIF showing a one-month total net return of 3.7% and State Street statements recording the Fund’s market value at $23,473,104.64 as of June 30, 2025 with a month-to-date net return of 3.07%.
The board reviewed the Cash Management Policy and determined no changes were necessary at this time. The board instructed Lauterbach & Amen to prepare Active Member File Maintenance letters for distribution to active members to request any outstanding pension file documents.
Attorney Jerry Marzullo provided updates on pending disability and medical-exam matters (Daniel Rowe and James Daley) and reported receipt of a QILDRO for John Huff that the board placed on file for execution upon retirement. No public comment was received at the meeting.