Monthly Financial Report For the Month Ended November 30, 2018

Transcription

1 Monthly Financial Report For the Month Ended November 3, 28 Prepared By 668 N. RIVER ROAD NAPERVILLE, ILLINOIS 6563 PHONE FAX

2 Mundelein Firefighters' Pension Fund Table of Contents Starting on Page Accountants' Compilation Report... - Financial Statements Statement of Net Position - Modified Cash Basis Statement of Changes in Net Position - Modified Cash Basis Other Supplementary Information Cash & Investments - Pie Chart Cash Analysis Report Cash Analysis Summary - Graph Revenue Report Expenses - Bar Chart Expense Report Member Contribution Report Payroll Batch Report... - Quarterly Vendor Check Report... -

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4 January 3, 29 Mundelein Firefighters' Pension Fund N Midlothian Road Mundelein, IL 66 To Members of the Pension Board: Management is responsible for the accompanying interim financial statements of the Mundelein Firefighters' Pension Fund which comprise the statement of net position - modified cash basis as of November 3, 28 and the related statement of changes in net position - modified cash basis for the seven months then ended in accordance with the modified cash basis of accounting and for determining that the modified cash basis of accounting is an acceptable financial reporting framework. We have performed a compilation engagement in accordance with Statements on Standards for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the American Institute of Certified Public Accountants. We did not audit or review the interim financial statements nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on these interim financial statements. The interim financial statements are prepared in accordance with the modified cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America. Management has elected to omit substantially all of the disclosures ordinarily included in interim financial statements prepared in accordance with the modified cash basis of accounting. If the omitted disclosures were included in the interim financial statements and other supplementary information, they might influence the user's conclusions about the Pension Fund's assets, liabilities, net position, additions and deductions. Accordingly, the interim financial statements and other supplementary information are not designed for those who are not informed about such matters. Other Matter The other supplementary information is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management. The other supplementary information was subject to our compilation engagement. We have not audited or reviewed the other supplementary information nor were we required to perform any procedures to verify the accuracy or completeness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on the other supplementary information. We are not independent with respect to the Mundelein Firefighters' Pension Fund. Cordially, Lauterbach & Amen, LLP -

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6 Mundelein Firefighters' Pension Fund Statement of Net Position - Modified Cash Basis As of November 3, 28 Assets Cash and Cash Equivalents $ 5, Investments at Fair Market Value Money Market Mutual Funds,92,762.8 Illinois Funds 3,93.8 Fixed Income 5,884, Mutual Funds 2,59,57.6 Total Cash and Investments 2,46,97.45 Accrued Interest 42,79.79 Prepaids 2, Total Assets 2,46,38.88 Liabilities Expenses Due/Unpaid 5, Total Liabilities 5, Net Position Held in Trust for Pension Benefits 2,455,

7 Mundelein Firefighters' Pension Fund Statement of Changes in Net Position - Modified Cash Basis For the Seven Months Ended November 3, 28 Additions Contributions - Municipal $ 787,62.8 Contributions - Members 47,42.25 Total Contributions 935,25.5 Investment Income Interest and Dividends Earned 76,645.8 Net Change in Fair Value 4,886.2 Total Investment Income 28,53.92 Less Investment Expense (3,57.72) Net Investment Income 86,96.2 Total Additions,2, Deductions Administration 24,49.58 Pension Benefits and Refunds Pension Benefits 62,262.7 Refunds. Total Deductions 626, Change in Position 495,33.96 Net Position Held in Trust for Pension Benefits Beginning of Year 9,96,25.66 End of Period 2,455,

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9 Mundelein Firefighters' Pension Fund Cash and Investments Cash & Cash Equivalents % Money Market Mutual Funds 9% Illinois Funds % Fixed Income 29% Mutual Funds 62% 3-

10 Mundelein Firefighters' Pension Fund Cash Analysis Report For the Twelve Periods Ending November 3, 28 Financial Institutions 2/3/7 /3/8 2/28/8 3/3/8 4/3/8 5/3/8 6/3/8 7/3/8 8/3/8 9/3/8 /3/8 /3/8 Harris Bank - CK # $ ,524 5,524 5,524 5,524 5,524 5,524 5,524 5,524 5,524 5, ,524 5,524 5,524 5,524 5,524 5,524 5,524 5,524 5,524 5,524 MSSB - MM - McDonnell #9873 4,757,327 35,986 47,5 53,25 34,467 36,58 74,785 72,699 79,82 7,77 84,542 MSSB - MM - Active Assets # ,492 4,85 338, ,836 25,64 9,24 488,88 425,62 394,22 633,23 575,53 55,69 US Bank - MM # ,56 42,528 42,494 74,338 74,349 68,399,22,972,23,728,98,447,237,482,233,74,235,3 Northern Trust - MM # ,753,9 439 US Bank - MM # (33) US Bank - MM # ,884 Illinois Funds - MM # ,75 3,72 3,734 3,75 3,77 3,79 3,8 3,834 3,857 3,88 3,96 3,93 69, ,4 53,29 5, ,454 56,8,74,49,77,987,679,45,964,433 4,647,47,935,693 Total 692,59 667, ,653 56,59 55,978 52,324,746,573,723,5,684,669,969,957 4,652,995,94,27 Contributions Current Tax ,934 37,565 6,47 33,975 37,762 8,474 6,756 Contributions - Current Year 7,243 7,243 7,258 26,75 8,55 8,824 8,84 9,342 29,537 9,823 2,4 2,647 Contributions - Prior Year - - 4, Interest Received from Members ,243 7,382 22,258 26,75 8,667 72, ,46 25,489 63,52 327,585 28,874 27,43 Expenses Pension Benefits 83,94 85,825 86,38 86,38 86,38 86,38 86,38 86,38 86,38 86,38 86,38 86,38 Refunds/Transfers of Service - 3, Administration,96 2,223 3,35 4,969 7,36 7,826 8,25 3,758 8,95 5,255 8,66 3,326 85,37,829 89,353 9,7 3,398 93,864 94,288 89,796 4,953 9,293 94,698 89,364 Total Contributions less Expenses (67,794) (84,447) (67,95) (64,932) (84,73) (2,6) 295,8 (64,37) (4,44) 236,292 (65,824) (6,96) 4-

11 Mundelein Firefighters' Pension Fund Cash Analysis Summary $45, $4, $35, $3, $25, $2, $5, $, $5, $ Cash & Money Market Balances* Total Contributions Benefit & Administrative Expenses *Cash & Money Market Balances omitted due to distorting effect on the Cash Analysis graph. 5-

12 Mundelein Firefighters' Pension Fund Revenue Report as of November 3, 28 Received this Month Received this Year Contributions Contributions - Municipal Current Tax $ 6,756. 6, ,62.8 Contributions - Members Contributions - Current Year 2, , , ,42.25 Total Contributions 27, ,25.5 Investment Income Interest and Dividends MSSB - Money Market - Active Assets # Northern Trust - Money Market # Illinois Funds - Money Market # MSSB - Fixed Income - McDonnell #9873 6, US Bank - Fixed Income #339 (5,425.34) US Bank - Mutual Funds #98645, ,9.85 Gains and Losses MSSB - Fixed Income - McDonnell #9873 5, US Bank - Fixed Income #339, US Bank - Mutual Funds # , US Bank - Mutual Funds # , NTGI - Pooled Investments # , Other Income Accrued Interest,8.74 3,8.74 2, ,57.22 (5,425.34) 9, ,39.4 (55,27.53), ,25.3 (96,488.43) 24, , , , Total Investment Income 25, ,53.92 Total Revenue 278,7.88,53,

13 Mundelein Firefighters' Pension Fund Pension Benefits and Expenses 6, 5, 4, 3, 2,, Service Duty Disability Administrative Expenses 534,267 67,995 55,99 7-

14 Mundelein Firefighters' Pension Fund Expense Report as of November 3, 28 Expended Expended this Month this Year Pensions and Benefits Service Pensions $ 76, , Duty Disability Pensions 9, ,995.4 Total Pensions and Benefits 86, ,262.7 Administrative Fiduciary. 6,58.. 6,58. Professional Services Accounting & Bookkeeping Services,8. 8, Legal Services PSA/Court Reporter ,55.,725. 3, Investment Investment Manager/Advisor Fees, , Custodial Fees ,6.8 3,57.72 Other Expense Conference/Seminar Fees., IDOI Filing Fee Expense. 3, ,92.83 Total Administrative 3, ,99.3 Total Expenses 89, ,

15 Mundelein Firefighters' Pension Fund Member Contribution Report As of Month Ended November 3, 28 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Brents, Darren $ , ,22.2 Buhrmester, Daniel M. 33, , ,39.34 Carey, Matthew S. 2, , , Carr, Joshua A.., , Clark, Brett T. 23,27.2 4, ,5.3 Crispe, John M. 7,3.49 4, ,243.4 D'Incognito, Steven M. 64, , ,426.9 Dippel, Michael J. 24,69. 5, ,926.4 Englund, Clifton D. 63,79.9 5, , Haag, Brian R. 5, , ,789.5 Huber, Scott P. 63,49.3 5, , Jones, Brian C. 22, , , Kornfeind, Gregory R.. 2, ,78.98 Kuester, Joel A LaForme, Darryll J. 98, , ,98.69 Lark, William F. 68, , ,2.5 Lockwood, Jeremy J., , ,52.65 Mastandrea, Daniel J.., , McGuire, Phillip B. 8, , ,53.99 Miller, Kevin J. 24,589. 5, ,896.4 Myers, David M. 2,979. 5, ,286.4 Nasca, Michael R. 7,3.49 4, ,243.4 Peters, John W. 97, , ,63.73 Rodewald, Kurt R. 92,35.5 5, , Romberger, Brandton W. 38, , ,8.48 Rubio, Gilbert A. 32,9.94 5, , Sashko, Brad T. 54, , ,75.6 Starkey, Timothy A. 72, , , Stone, Jacqueline R. 77, , , ,298,8.4 47, ,445,

16 Batches Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date /3/28 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Benistar Vision QILDRO Deduct Federal Tax Duty Disability ***-** Bing, Ronald S. $5, $5, $. $. $. $. $. ***-**523 Subtotal: $5, $5, $. $. $. $. $. ***-** Greissinger, Gary S. $2,78.48 $3, $. $. $,8. $. $48.89 ***-**54 Subtotal: $2,78.48 $3, $. $. $,8. $. $48.89 Duty Disability Subtotal: $8, $9,73.63 $. $. $,8. $. $48.89 QILDRO ***-**675 Q578 Carew, Sharon J. $2,83.82 $2,26.74 $. $. $. $. $76.92 ***-**675 Subtotal: $2,83.82 $2,26.74 $. $. $. $. $76.92 QILDRO Subtotal: $2,83.82 $2,26.74 $. $. $. $. $76.92 Service ***-** Adams, Craig F. $5,74.34 $9,67.6 $,468. $7. $. $. $, ***-**5972 Subtotal: $5,74.34 $9,67.6 $,468. $7. $. $. $,

17 Batches Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date /3/28 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Benistar Vision QILDRO Deduct Federal Tax ***-** Brown, David A. $3, $4,42. $. $. $. $. $533.5 ***-**49 Subtotal: $3, $4,42. $. $. $. $. $533.5 ***-** Carew, James E. $, $4,52.49 $. $6. $59. $2,26.74 $26.7 ***-**99 Subtotal: $, $4,52.49 $. $6. $59. $2,26.74 $26.7 ***-** Gaunky, Mark J Payment to Mundelein Community Bank, Gaunky - $3, $5, $. $. $. $. $567.3 $,. $. $. $. $. $. $. ***-**7993 Subtotal: $4, $5, $. $. $. $. $567.3 ***-** Grant, Ronald G. $6,99.5 $7, $. $. $. $. $, ***-**4758 Subtotal: $6,99.5 $7, $. $. $. $. $, ***-**79 57 Justus, Randy C. $9,4.2 $, $. $. $. $. $,65.74 ***-**79 Subtotal: $9,4.2 $, $. $. $. $. $,

18 Batches Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date /3/28 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Benistar Vision QILDRO Deduct Federal Tax ***-** Lawrence, Michael J. $5, $6,548.4 $. $. $. $. $, ***-**7265 Subtotal: $5, $6,548.4 $. $. $. $. $, ***-** LoMastro, Carl M. $2,73.8 $5,46.37 $2,3. $72. $. $. $5.29 ***-**693 Subtotal: $2,73.8 $5,46.37 $2,3. $72. $. $. $5.29 ***-** McKinley, Kevin M. $5,675.2 $7, $,468. $7. $. $. $ ***-**4824 Subtotal: $5,675.2 $7, $,468. $7. $. $. $ ***-** Sorby, Kurt R. $6,49.53 $7,29.2 $. $. $. $. $77.59 ***-**2482 Subtotal: $6,49.53 $7,29.2 $. $. $. $. $77.59 ***-**78 68 Yoder, Benjamin S. $5, $7,3.9 $679. $7. $. $. $ ***-**78 Subtotal: $5, $7,3.9 $679. $7. $. $. $ Service Subtotal: $57,45.27 $76,323.9 $5,645. $583. $59. $2,26.74 $9,

19 Batches Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date /3/28 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Benistar Vision QILDRO Deduct Federal Tax Totals ACH Flag Payments Net Payment Total Gross Health Dental - Vision Benistar QILDRO Deduct Federal Tax Yes 5 $68,8.83 $88, $5,645. $583. $,527. $2,26.74 $,2.7 No $. $. $. $. $. $. $. Grand Total 5 $68,8.83 $88, $5,645. $583. $,527. $2,26.74 $,2.7-4

20 Check Invoice Check Date Number Vendor Name Amount Amount 9/25/ US Bank Corp Custodial/Trust Fee - 8/ Check Amount /27/ Lauterbach & Amen, LLP #343 7/8 Accounting & Benefits, #343 7/8 PSA #2979 FYE8 Workpapers,4. Check Amount 2,765. 9/28/ Benistar/UA Benistar - 9/8,527. Check Amount,527. 9/28/ North Suburban Employee Dental / Vision - 9/ Check Amount /28/ North Suburban Employee Benefit Medical - 9/8 5,645. Check Amount 5,645. 9/28/ Internal Revenue Service Internal Revenue Service,2.7 ACH Amount (Direct Deposit),2.7 9/28/ MSSB (McDonnell Investment) Q8 Investment Manager/Advisor Fee,679.8 Check Amount, /28/ Northern Trust Corp Mundelein Firefighters' Pension Fund Quarterly Vendor Check Report All Bank Accounts September, 28 - November 3, Q8 Investment Manager/Advisor Fee Check Amount /25/ US Bank Corp Refund Custodial/Trust Fee - 8/ Check Amount (24.68) /25/8 524 Graystone Consulting Q8 Investment Manager/Advisor Fee 5, Check Amount 5, /25/8 524 MSSB (McDonnell Investment) Q8 Investment Manager/Advisor Fee,66.76 Check Amount,

21 Check Invoice Check Date Number Vendor Name Amount Amount /3/ Lauterbach & Amen, LLP #358 8/8 Accounting & Benefits, #358 8/8 PSA 645. Check Amount,725. /3/ Benistar/UA-683 /3/ Village of Mundelein Benistar - /8,527. Check Amount, Medical - /8 5, Dental-Vision 583. Check Amount 6,228. /3/8 237 Internal Revenue Service Internal Revenue Service,2.7 ACH Amount (Direct Deposit),2.7 // Graystone Consulting Q8 Investment Manager/Advisor Fee,322.5 Check Amount,322.5 /4/ US Bank Corp Custodial/Trust Fee - 8/ Check Amount /4/ US Bank Corp Custodial/Trust Fee - 9/ Check Amount /29/8 237 Lauterbach & Amen, LLP Mundelein Firefighters' Pension Fund Quarterly Vendor Check Report All Bank Accounts September, 28 - November 3, #34 9/8 Accounting & Benefits, #34 9/8 PSA 645. Check Amount,725. /3/ Benistar/UA Benistar - /8,527. Check Amount,527. /3/ Village of Mundelein Medical /8 5, Dental-Vision / Check Amount 6,

22 Check Invoice Check Date Number Vendor Name Amount Amount /3/ Internal Revenue Service Internal Revenue Service,2.7 ACH Amount (Direct Deposit),2.7 /3/ US Bank Corp Custodial/Trust Fee - 8/ Check Amount 8.62 /3/ US Bank Corp Mundelein Firefighters' Pension Fund Quarterly Vendor Check Report All Bank Accounts September, 28 - November 3, Custodial/Trust Fee - 9/ Check Amount 3.79 Total Payments 7,.4-3