HomeMy WebLinkAboutMinutes - 4/24/2024 - Police Pension BoardPolice Pension Board of Trustees
Meeting Minutes
April 24, 2024
Call to Order
The regular meeting of the City of McHenry Police Pension Board of Trustees was called to order at 8:30
a.m. on Wednesday, April 24, 2024, at McHenry City Hall, 333 S Green St, McHenry, IL.
Roll call:
Members present: President Jeffery Foerster, Commander Nick Clesen, Jim Schmidt, Thomas Settles,
Officer Robert Beaudoin. Others present: Monte Johnson, Carolyn Lynch.
Public Input:
No members of the public were present to offer comments.
Approve the January 9, 2024 Regular Meeting Minutes
A motion was made by Thomas Settles and seconded by Jim Schmidt to approve the meeting minutes of
October 10, 2023. Voice Vote: 5-ayes: Foerster, Clesen, Schmidt, Settles, Beaudoin. Motion carried.
Approve the Payment of Bills
Treasurer Lynch reported that there are two bills to pay, both to the attorneys totaling $4,630.06. A
motion was made by Jim Schmidt and seconded by Commander Cleasen to approve the payment of bills
as presented. Voice Vote: 5-ayes: Foerster, Clesen, Schmidt, Settles, Beaudoin. Motion carried.
Treasurer’s Report
Treasurer Lynch presented the updated report from March 31, 2024. Investments are up 10% since the
inception of the IPOPIF. We now have just over $60 million total. A discussion was had regarding the
bond and if it should be paid off if we have a lower ROI, but the bond has a low interest rate and it is a
20 year bond. A motion was made by Commander Clesen and seconded by Officer Beaudoin to approve
the Treasurer’s Report as presented. Voice Call Vote: 5-ayes: Foerster, Clesen, Schmidt, Settles,
Beaudoin. Motion carried.
Authorize City Treasurer Carolyn Lynch to Transfer Funds as Needed
Treasurer Lynch stated that we need to transfer $500,000 out of IPOPIF to pay for upcoming bills. A
motion was made by Tom Settles and seconded by Commander Clesen to transfer $500,000 from IPOPIF
for the payment of bills. Voice Vote: 5-ayes: Foerster, Clesen, Schmidt, Settles, Beaudoin. Motion
carried.
Approve the pension applications of Michael Rodrigues and Jake Busse
A motion was made by Jim Schmidt and seconded by Officer Beaudoin to approve the pension
applications of Michael Rodrigues and Jake Busse. Voice Vote: 5-ayes: Foerster, Clesen, Schmidt, Settles,
Beaudoin. Motion carried.
Additional Items for Discussion
Jeff Foerster explained that Mr. Klachek and Mr. DeBolt are due for their annual physicals. It is hopeful
that we get those reports back to approve by the July meeting. Tom Settles asked if it were possible to
move the July 3rd meeting. It was agreed upon that the next meeting will be held on June 26th at 8:30
a.m. Commander Clesen informed the Boad that this is the time to get information to IPOPIF for voting
for their elections.
Motion to Adjourn
A motion was made by Commander Clesen and seconded by Jim Schmidt to adjourn at 8:49 a.m. Voice
Vote: 5-ayes: Foerster, Clesen, Schmidt, Settles, Beaudoin. Motion carried.
______________________________
Monte Johnson, Recording Secretary