Monthly Financial Report For the Month Ended November 30, 2017

Transcription

1 Monthly Financial Report For the Month Ended November 3, 217 Prepared By 668 N. RIVER ROAD NAPERVILLE, ILLINOIS 6563 PHONE FAX

2 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 December 21, 217 Mundelein Firefighters' Pension Fund 1 N Midlothian Road Mundelein, IL 66 To Members of the Pension Board: Management is responsible for the accompanying statement of net position - modified cash basis of the Mundelein Firefighters' Pension Fund as of November 3, 217 and the related statement of changes in net position - modified cash basis for the seven months then ended and determining that the modified cash basis of accounting is an acceptable financial reporting framework. We have performed the compilation engagement in accordance with Statements for Standards 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 accompanying 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 the financial statements. The 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 included in financial statements prepared in accordance with the modified cash basis of accounting. If the omitted disclosures were included in the 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, these 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. This information is the representation of management. The 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 1-1

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6 Statement of Net Position - Modified Cash Basis As of November 3, 217 Assets Cash and Cash Equivalents $ Investments at Fair Market Value Money Market Mutual Funds 89, Illinois Funds 13,69.7 Fixed Income 3,183,61.44 Mutual Funds 12,69, Pooled Investments 3,796, Total Cash and Investments 2,412,72.41 Accured Interest 23, Prepaids 7,465.4 Total Assets 2,443, Liabilities Expenses Due/Unpaid 1, Total Liabilities 1, Net Position Held in Trust for Pension Benefits 2,442,

7 Statement of Changes in Net Position - Modified Cash Basis For the Seven Months Ended November 3, 217 Additions Contributions - Municipal $ 616, Contributions - Members 131, Total Contributions 747,6.12 Investment Income Interest and Dividends Earned 276,49.94 Net Change in Fair Value 1,88, Total Investment Income 1,365,28.86 Less Investment Expense (26,124.73) Net Investment Income 1,338,94.13 Total Additions 2,86,54.25 Deductions Administration 22,827.8 Pension Benefits and Refunds Pension Benefits 559,14.35 Refunds. Total Deductions 581, Change in Position 1,54,662.1 Net Position Held in Trust for Pension Benefits Beginning of Year 18,937,668.5 End of Period 2,442,

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9 Cash and Investments Cash & Cash Equivalents % Pooled Investments 19% Money Market Mutual Funds 4% Illinois Funds % Fixed Income 15% Mutual Funds 62% 3-1

10 Cash Analysis Report For the Twelve Periods Ending November 3, 217 Financial Institutions 12/31/16 1/31/17 2/28/17 3/31/17 4/3/17 5/31/17 6/3/17 7/31/17 8/31/17 9/3/17 1/31/17 11/3/17 Harris Bank - CK # $ MSSB - MM - McDonnell # ,728 8, , , ,54 14, ,94 132, ,252 95,8 181,32 194,782 MSSB - MM - Active Assets # ,79 283,352 22, ,464 98,28 339, , , , , ,54 554,164 US Bank - MM # , , , , ,942 8,849 31,9 33,238 33,117 57,97 66,26 6,33 Northern Trust - MM # (911) Illinois Funds - MM # ,428 73,465 73,5 73,543 73,59 13,622 13,631 13,643 13,654 13,666 13,678 13,691 61, , ,937 65, , , ,29 71,24 655,68 851, , ,96 Total 61, ,52 634,461 65, ,86 467, ,733 71, ,24 851, , 823,484 Contributions Current Tax , ,823 5,321 13,66 27,949 4,84 4,786 Contributions - Current Year 18,138 18,238 17,214 25,451 16,785 17,325 17,688 17,95 18,22 25,792 17,243 17,243 18,138 18,27 18,148 25,451 16,785 34, ,511 23,271 31,88 296,741 22,47 22,29 Expenses Pension Benefits 69,481 74,746 78,45 78,45 78,45 78,45 78,45 78,45 78,45 78,45 78,45 88,584 Administration 6,226 8,53 4,24 2,345 13,39 4,587 3,812 1,166 2,448 8,193 1,813 17,933 75,77 83,276 82,69 8,75 91,795 82,992 82,217 88,571 8,853 86,598 8,218 16,517 Total Contributions less Expenses (57,569) (65,6) (64,461) (55,299) (75,1) (48,798) 235,294 (65,3) (49,45) 21,143 (58,171) (84,488) 4-1

11 Cash Analysis Summary $35, $3, $25, $2, $15, $1, $5, $ Cash & Money Market Balances* Total Contributions Benefit & Administrative Expenses *Cash & Money Market Balances omitted due to distorting effect on the Cash Analysis graph. 5-1

12 Revenue Report as of November 3, 217 Received this Month Received this Year Contributions Contributions - Municipal Current Tax $ 4, , , Contributions - Members Contributions - Current Year 1 17, , , , Total Contributions 22, ,6.12 Investment Income Interest and Dividends MSSB - Money Market - Active Assets # Illinois Funds - Money Market # MSSB - Fixed Income - McDonnell # , US Bank - Mutual Funds # , , Gains and Losses MSSB - Fixed Income - McDonnell # (9,492.82) US Bank - Mutual Funds # , NTGI - Pooled Investments # (12,64.21) 5 151, Other Income Accrued Interest 1 (6,551.2) 3 (6,551.2) , , , ,6.23 1,29, , ,88, (5,254.51) (5,254.51) Total Investment Income 299, ,365,28.86 Total Revenue 321, ,112,

13 Pension Benefits and Expenses 5, 45, 4, 35, 3, 25, 2, 15, 1, 5, Service Duty Disability Administrative Expenses 492,366 66,649 48,

14 Expense Report as of November 3, 217 Expended Expended this Month this Year Pensions and Benefits Service Pensions $ 79, , Duty Disability Pensions 9, , Total Pensions and Benefits 88, ,14.35 Administrative Fiduciary. 6,77.. 6,77. Professional Services Actuarial Services 4,75. 4, Accounting & Bookkeeping Services 1,5. 7, Legal Services ,5. 12,5. Investment Investment Manager/Advisor Fees 1, , Custodial Fees , , Other Expense Association Dues IDOI Filing Fee Expense. 3, ,25.8 Total Administrative 17, , Total Expenses 16, ,

15 Member Contribution Report As of Month Ended November 3, 217 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Buhrmester, Daniel M. $ 26,11.6 4, ,423.1 Carey, Matthew S. 189,783. 6, , Clark, Brett T. 16, , , Crispe, John M. 1, , , D'Incognito, Steven M. 55, , , Dippel, Michael J. 115, , , Englund, Clifton D. 54, , , Haag, Brian R.. 3, , Huber, Scott P. 54, , , Jones, Brian C. 111, , , LaForme, Darryll J. 88, , , Lark, William F. 154, , ,237.1 Lockwood, Jeremy J. 1,73.9 5, ,41.74 McGuire, Phillip B. 17, , ,52.8 Miller, Kevin J. 115, , , Myers, David M. 14, , , Nasca, Michael R. 1, , , Peters, John W. 88, , , Rodewald, Kurt R. 83, , , Romberger, Brandton W. 126, , , Rubio, Gilbert A. 118,29.2 5, ,71.9 Sashko, Brad T. 46, , ,37.17 Starkey, Timothy A. 162, , ,21.87 Stone, Jacqueline R. 68, , , ,69, , ,197,16.55 Inactive/Terminated Members Gaunky, Mark J. 146, , , Gould, Joshua D. 2, , Totals 2,218, , ,349,

16 Batches 27426,27645 Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date 11/3/217 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Vision Medical - Benistar QILDRO Deduct Federal Tax Duty Disability ***-** Bing, Ronald S. $5,72.47 $5,72.47 $. $. $. $. $. ***-**523 Subtotal: $5,72.47 $5,72.47 $. $. $. $. $. ***-** Greissinger, Gary S. $2, $3, $. $. $976. $. $ ***-**5141 Subtotal: $2, $3, $. $. $976. $. $ Duty Disability Subtotal: $8, $9, $. $. $976. $. $ QILDRO ***-**6175 Q1578 Carew, Sharon J. $1, $2,194.9 $. $. $. $. $211.1 ***-**6175 Subtotal: $1, $2,194.9 $. $. $. $. $211.1 QILDRO Subtotal: $1, $2,194.9 $. $. $. $. $211.1 Service ***-** Adams, Craig F. $5,774.4 $8,9.59 $1,359. $11. $. $. $1, ***-**5972 Subtotal: $5,774.4 $8,9.59 $1,359. $11. $. $. $1,

17 Batches 27426,27645 Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date 11/3/217 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Vision Medical - Benistar QILDRO Deduct Federal Tax ***-** Brown, David A. $3,683.4 $4, $. $. $. $. $67.86 ***-**1419 Subtotal: $3,683.4 $4, $. $. $. $. $67.86 ***-** Carew, James E. $1,64.74 $4,389.8 $. $56. $488. $2,194.9 $46.16 ***-**99 Subtotal: $1,64.74 $4,389.8 $. $56. $488. $2,194.9 $46.16 ***-** Gaunky, Mark J Gaunky, Mark J Payment to Mundelein Community Bank, Gaunky - $4,82.24 $4, $. $. $. $. $56.59 $3, $5, $. $. $. $. $ $1,. $. $. $. $. $. $. ***-**7993 Subtotal: $8,923.4 $1, $. $. $. $. $1, ***-** Grant, Ronald G. $5, $7, $. $. $. $. $1,5. ***-**4758 Subtotal: $5, $7, $. $. $. $. $1,5. ***-** Justus, Randy C. $8, $1, $. $. $. $. $1,

18 Batches 27426,27645 Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date 11/3/217 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Vision Medical - Benistar QILDRO Deduct Federal Tax ***-**791 Subtotal: $8, $1, $. $. $. $. $1, ***-** Lawrence, Michael J. $4, $6, $. $. $. $. $1, ***-**7265 Subtotal: $4, $6, $. $. $. $. $1, ***-** LoMastro, Carl M. $3, $5,46.37 $1,359. $18. $. $. $ ***-**693 Subtotal: $3, $5,46.37 $1,359. $18. $. $. $ ***-** McKinley, Kevin M. $5,47.1 $7, $1,359. $11. $. $. $ ***-**4824 Subtotal: $5,47.1 $7, $1,359. $11. $. $. $ ***-** Sorby, Kurt R. $6, $6, $. $. $. $. $ ***-**2482 Subtotal: $6, $6, $. $. $. $. $ ***-** Yoder, Benjamin S. $5, $7,89.23 $629. $11. $. $. $776.3 ***-**781 Subtotal: $5, $7,89.23 $629. $11. $. $. $

19 Batches 27426,27645 Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date 11/3/217 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Vision Medical - Benistar QILDRO Deduct Federal Tax Service Subtotal: $59, $79,62.4 $4,76. $566. $488. $2,194.9 $11,

20 Batches 27426,27645 Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date 11/3/217 SSN Family ID Employee Name Alt Payee Name ACH Retro Check # Net Amount Member Gross Health Dental - Vision Medical - Benistar QILDRO Deduct Federal Tax Totals ACH Flag Payments Net Payment Total Gross Health Dental - Vision Medical - Benistar QILDRO Deduct Federal Tax Yes 16 $69, $9, $4,76. $566. $1,464. $2,194.9 $11, No $. $. $. $. $. $. $. Grand Total 16 $69, $9, $4,76. $566. $1,464. $2,194.9 $11,

21 Quarterly Vendor Check Report All Bank Accounts September 1, November 3, 217 Check Invoice Check Date Number Vendor Name Amount Amount 9/15/ Mesirow Services, Inc Policy #MGL , # /15/17-6/15/18. Check Amount 6,77. 9/25/ US Bank Corp Custodial/Trust Fee - 8/ Check Amount /28/ Lauterbach & Amen, LLP # /17 Accounting Service # /17 Payroll Service 18. Check Amount 1,5. 9/29/ Benistar/UA Benistar - 9/17 1,464. Check Amount 1,464. 9/29/ North Suburban Employee Dental - 9/ Check Amount /29/ North Suburban Employee Benefit Medical - 9/17 4,76. Check Amount 4,76. 9/29/ Internal Revenue Service Internal Revenue Service 1,62.76 ACH Amount (Direct Deposit) 1, /29/ Northern Trust Corp Q17 Investment Manager/Advisor Fee Check Amount /13/ MSSB (McDonnell Investment) Q17 Investment Manager/Advisor Fee 1, Check Amount 1, /25/ US Bank Corp Custodial/Trust Fee - 9/ Check Amount /31/ Benistar/UA Benistar - 1/17 1,464. Check Amount 1,

22 Quarterly Vendor Check Report All Bank Accounts September 1, November 3, 217 Check Invoice Check Date Number Vendor Name Amount Amount 1/31/ North Suburban Employee Dental - 1/ Check Amount /31/ North Suburban Employee Benefit Medical - 1/17 4,76. Check Amount 4,76. 1/31/ Internal Revenue Service Internal Revenue Service 1,62.76 ACH Amount (Direct Deposit) 1, /3/ Graystone Consulting Investment Manager/Advisor Fee 1, Check Amount 1, /6/ Graystone Consulting Q17 Investment Manager/Advisor Fee 5,81.37 Check Amount 5, /9/17 23 Internal Revenue Service Internal Revenue Service ACH Amount (Direct Deposit) /14/ MSSB (McDonnell Investment) Q17 Investment Manager/Advisor Fee 1, Check Amount 1, /17/ MSSB (McDonnell Investment) Q17 Investment Manager/Advisor Fee 1,7.37 Check Amount 1, /27/ US Bank Corp 11/29/ IPPFA Custodial/Trust Fee - 1/ Check Amount Association Dues Check Amount /29/ Lauterbach & Amen, LLP #24534 FYE17 GASB 67/68 2, #2429 FYE17 Actuarial 2, # /17 Accounting Service # /17 Payroll Service 18. Check Amount 5,

23 Quarterly Vendor Check Report All Bank Accounts September 1, November 3, 217 Check Invoice Check Date Number Vendor Name Amount Amount 11/29/ Reimer, Dobrovolny & Karlson, LLC C2695 F22769 Legal Service 25. Check Amount /3/ Benistar/UA Benistar - 11/17 1,464. Check Amount 1, /3/ North Suburban Employee Dental - 11/ Check Amount /3/ North Suburban Employee Benefit Medical - 11/17 4,76. Check Amount 4,76. 11/3/ Internal Revenue Service Internal Revenue Service 11, ACH Amount (Direct Deposit) 11, Total Payments 81,