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Huntley Police Pension Fund trustees approve 2026 budget, continue disability benefit and clear several administrative actions
Summary
Trustees approved the 2026 budget, set cash‑management parameters, approved a fiduciary insurance renewal, accepted five Tier II members, authorized a $43,801.70 contribution refund and voted to continue Officer James Daley’s disability benefits; the minutes include a footnote noting an inconsistency about Trustee Laura Mraz’s board status.
The Huntley Police Pension Fund Board of Trustees approved the fund’s Financial Year End 2026 budget and a series of administrative and benefit actions at its Oct. 23, 2025 meeting in Huntley Village Hall.
Trustee Timothy Heagney called the meeting to order at 4:00 p.m. The board reviewed Lauterbach & Amen’s monthly financial report for the nine months ending Sept. 30, 2025, which shows a net position held in trust of $25,451,002.92 and a change in position of $4,257,750.29. The board accepted the monthly report and approved quarterly disbursements totaling $23,601.30. The motions to accept the report and the disbursements were recorded as carried unanimously by the trustees present.
In investment matters, the board reviewed an IPOPIF investment performance review prepared by Verus Advisory, Inc. (period ending Aug. 31, 2025). The materials presented a one‑month net return of 2.6% and included a market value figure for IPOPIF as reported in the packet; the minutes do not clarify whether that market value figure applies to the local fund or to the broader IPOPIF pool.
On disability matters, Attorney Jerry Marzullo reported that Daniel Rowe was granted a non‑duty disability pension; the Decision and Order were noted as available for review and approval at the next regular meeting. The board also reviewed an annual independent medical examination by Dr. Conroe for Officer James Daley and, by motion of Trustee Joseph Lanute seconded by Trustee Timothy Heagney, voted to continue Daley’s disability benefits subject to further annual examinations until age 50.
The board accepted five applications for membership — Daniel Fish Jr., Thomas Fuerst, Juana Garza, Cassandra Kearney and Julio Rangle‑Olague — as Tier II participants with effective dates ranging from Aug. 25 to Sept. 29, 2025. The trustees approved a contribution refund to Joshua Prokuski in the amount of $43,801.70, paid to him on Sept. 30, 2025.
Administrative actions approved included adoption of the Municipal Compliance Report prepared by Lauterbach & Amen and authorization for signatures by the Board President and Secretary, setting the 2026 meeting calendar for Jan. 22, April 23, July 23 and Oct. 22 at 4:00 p.m., and approving a fiduciary liability insurance renewal through Markel American Insurance Company via Alliant Insurance Services for $3,494 effective Jan. 1, 2026–Jan. 1, 2027.
On cash management, the board set the BMO account minimum balance at $80,000, maximum at $160,000, and established repeat monthly deposits of $80,000 for 2026.
The minutes include an introductory footnote that complicates the record: on legal counsel’s advice the board noted the correct quorum for approving the Oct. 23 minutes would consist of Trustees Heagney, Lanute and Mraz but also states that Laura Mraz is no longer on the Huntley Police Pension Fund Board of Trustees. The minutes further state that Trustees Heagney and Lanute said the minutes were fair and accurate and would be released with that explanatory footnote. Where votes are recorded later in the minutes, they are listed with Heagney, Lanute and Mraz as the voting trustees. The board packet does not resolve that inconsistency; the minutes flag it for the record.
The meeting adjourned at 4:47 p.m. The next regular meeting is scheduled for Jan. 22, 2026 at 4:00 p.m.
Notes: All motions, seconders and vote tallies reported here reflect the verbatim entries in the meeting minutes; where the minutes present figures or membership lists the article reports them as recorded.
