Monthly Financial Report For the Month Ended November 30, PDF Free Download

Monthly Financial Report For the Month Ended November 30, 206 Prepared By 27W457 WARRENVILLE RD WARRENVILLE, ILLINOIS 60555 PHONE 630.393.483 FAX 630.393.256 www.lauterbachamen.com

Table of Contents Starting on Page Accountants' Compilation Report... - Financial Statements Statement of Net Position - Modified Cash Basis... 2- Statement of Changes in Net Position - Modified Cash Basis... 2-2 Other Supplementary Information Cash & Investments - Pie Chart... 3- Cash Analysis Report... 4- Cash Analysis Summary - Graph... 5- Revenue Report... 6- Expenses - Bar Chart... 7- Expense Report... 8- Member Contribution Report... 9- Payroll Batch Report... 0- Quarterly Vendor Check Report... -

December 23, 206 Mundelein Firefighters' Pension Fund 000 N Midlothian Road Mundelein, IL 60060 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 30, 206 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 -

Statement of Net Position - Modified Cash Basis As of November 30, 206 Assets Cash and Cash Equivalents $ 270.50 Investments at Fair Market Value Money Market Mutual Funds 52,974.67 Illinois Funds 73,396.07 Fixed Income 3,288,280.62 Mutual Funds 0,63,83.59 Pooled Investments 3,679,7.25 Total Cash and Investments 8,67,924.70 Accured Interest 24,640.8 Prepaids 6,587.22 Total Assets 8,99,52.73 Liabilities Expenses Due/Unpaid 2,660.59 Total Liabilities 2,660.59 Net Position Held in Trust for Pension Benefits 8,96,492.4 2-

Statement of Changes in Net Position - Modified Cash Basis For the Seven Months Ended November 30, 206 Additions Contributions - Municipal $ 659,282.26 Contributions - Members 42,898.3 Total Contributions 802,80.39 Investment Income Interest and Dividends Earned 67,872.63 Net Change in Fair Value 479,053.75 Total Investment Income 646,926.38 Less Investment Expense (22,857.5) Net Investment Income 624,069.23 Total Additions,426,249.62 Deductions Administration 9,77.73 Pension Benefits and Refunds Pension Benefits 486,367.77 Refunds 0.00 Total Deductions 506,085.50 Change in Position 920,64.2 Net Position Held in Trust for Pension Benefits Beginning of Year 7,276,328.02 End of Period 8,96,492.4 2-2

Cash and Investments Pooled Investments 20% Cash & Cash Equivalents 0% Money Market Mutual Funds 3% Illinois Funds 0% Fixed Income 8% Mutual Funds 59% 3-

Cash Analysis Report For the Twelve Periods Ending November 30, 206 Financial Institutions 2/3/5 0/3/6 02/29/6 03/3/6 04/30/6 05/3/6 06/30/6 07/3/6 08/3/6 09/30/6 0/3/6 /30/6 Harris Bank - CK #323-360-8 $ 27 27 27 27 27 27 9,27 9,27 27 27 27 27 27 27 27 27 27 27 9,27 9,27 27 27 27 27 MSSB - MM - McDonnell #98703 75,77 4,229 234,650 89,963,532 08,525 38,65 63,692 6,65 4,997 92,55 80,770 MSSB - MM - Active Assets #894908 225,363 7,874 8,35 65,3 2,73 6,298 323,463 279,565 243,44 484,98 44,494 394,829 US Bank - MM #986450 28,334 - - 76,942 80,03 3,039 4,822 7,470 7,344 34,00 37,48 37,356 Northern Trust - MM #26557 20 20 20 20 20 20 20 20 20 20 20 20 Illinois Funds - CK #6002362 09,734 33,290 - - - - - - - - - - Illinois Funds - MM #6002362 - - 33,97 73,27 73,234 73,253 73,273 73,295 73,320 73,344 73,369 73,396 539,68 49,43 486,28 305,273 286,602 246,35 550,93 434,042 350,443 633,560 644,59 586,37 Total 539,439 49,684 486,489 305,544 286,873 246,406 559,464 443,33 350,74 633,83 644,790 586,642 Contributions Current Tax 3,898 22 - - 56 6,586 37,233 8,74 3,076 287,333 0,2 6,30 Contributions - Current Year 6,70 6,939 7,8 7,237 25,900 7,789 7,854 7,867 7,960 26,436 7,828 8,64 Contributions - Prior Year - - - - - - 7,977 95 - - - - Interest Received from Members - - - - - -,023 (95) - - - - 20,608 6,96 7,8 7,237 26,056 34,375 344,087 26,58 3,036 33,769 28,039 24,294 Expenses Pension Benefits 67,694 69,48 69,48 69,48 69,48 69,48 69,48 69,48 69,48 69,48 69,48 69,48 Administration 6,035 7,356,357 5,334 8,70 4,09 4,507 9,354 8,863 4,288 9,862,60 73,729 76,837 70,838 74,85 77,65 73,572 73,988 78,835 78,344 73,769 79,343 7,09 Total Contributions less Expenses (53,2) (59,876) (53,657) (57,578) (5,595) (39,97) 270,099 (52,254) (47,308) 240,000 (5,304) (46,797) 4-

Cash Analysis Summary $400,000 $350,000 $300,000 $250,000 $200,000 $50,000 $00,000 $50,000 $0 Cash & Money Market Balances* Total Contributions Benefit & Administrative Expenses *Cash & Money Market Balances omitted due to distorting effect on the Cash Analysis graph. 5-

Revenue Report as of November 30, 206 Received this Month Received this Year Contributions Contributions - Municipal 4-20-00 - Current Tax $ 6,29.86 6,29.86 659,282.26 Contributions - Members 4-40-00 - Contributions - Current Year 8,64.3 33,898.3 4-420-00 - Contributions - Prior Year 0.00 8,892.36 4-440-00 - Interest Received from Members 0.00 07.64 8,64.3 42,898.3 Total Contributions 24,293.99 0 802,80.39 Investment Income Interest and Dividends 43-05-04 - MSSB - Money Market - Active Assets #894908 6.76 43-05-06 - Northern Trust - Money Market #26557 0.04 43-06-0 - Illinois Funds - Money Market #6002362 26.80 43-252-03 - MSSB - Fixed Income - McDonnell #98703 2,994.4 43-550-05 - US Bank - Mutual Funds #986450 59,48.6 9 72,509.7 Gains and Losses 44-252-03 - MSSB - Fixed Income - McDonnell #98703 (97,542.96) 44-550-05 - US Bank - Mutual Funds #986450 362,965.39 44-800-0 - NTGI - Pooled Investments #26557 (70,780.42) 5 94,642.0 Other Income 45-200-00 - Accrued Interest (4,86.52) 3 (4,86.52) 80. 0.07 6.80 62,762.74 09,33.04 72,37.76 (97,39.65) 585,252.63 (9,059.23) 479,053.75 (4,445.3) (4,445.3) Total Investment Income 262,334.66 2 9 646,926.38 Total Revenue 286,628.65,449,06.77 6-

Pension Benefits and Expenses 450,000 400,000 350,000 300,000 250,000 200,000 50,000 00,000 50,000 Service Duty Disability Administrative Expenses 42,066 65,302 42,575 7-

Expense Report as of November 30, 206 Expended this Month Expended this Year Pensions and Benefits 5-020-00 - Service Pensions $ 60,52.28 42,065.96 5-040-00 - Duty Disability Pensions 9,328.83 65,30.8 Total Pensions and Benefits 69,48. 486,367.77 Administrative Insurance 52-50-0 - Fiduciary Insurance 0.00 5,963.00 0.00 5,963.00 Professional Services 52-70-03 - Accounting & Bookkeeping Services,020.00 9,325.00 52-70-05 - Legal Services 0.00 500.00,020.00 9,825.00 Investment 52-90-0 - Investment Manager/Advisor Fees 0.00 22,026.49 52-90-02 - Custodial Fees 24.92 830.66 24.92 22,857.5 Other Expense 52-290-25 - Conference/Seminar Fees 465.00 465.00 52-290-34 - IDOI Filing Fee Expense 0.00 3,464.73 465.00 3,929.73 Total Administrative,609.92 42,574.88 Total Expenses 7,09.03 528,942.65 8-

Member Contribution Report As of Month Ended November 30, 206 Thru Current Prior Fiscal Fiscal Service Total Name Year Year Purchase Refunds Contributions Buhrmester, Daniel $ 9,209.97 3,946.35 0.00 0.00 23,56.32 Carey, Matthew 78,280.86 6,635.85 0.00 0.00 84,96.7 Clark, Brett T. 9,600.45 3,737.85 0.00 0.00 3,338.30 Crispe, John M. 4,06.77 3,606.97 0.00 0.00 7,623.74 D'Incognito, Steven 46,38.05 5,083.69 0.00 0.00 5,40.74 Dippel, Michael J. 07,60.78 4,96.40 0.00 0.00 2,077.8 Englund, Clifton D. 45,866.0 4,77.26 0.00 0.00 50,637.27 Gaunky, Mark J. 35,775.88 6,238.50 0.00 0.00 42,04.38 Gould, J. 0.00 660.35 0.00 0.00 660.35 Huber, Scott P. 45,853.50 4,78.26 0.00 0.00 50,57.76 Jones, Brian C. 0,702.4 5,823.00 0.00 0.00 07,525.4 LaForme, Darryll 79,06.8 5,455.45 0.00 0.00 84,57.26 Lark, William 4,280.77 7,222.83 0.00 0.00 48,503.60 Lockwood, Jeremy 90,054.54 5,748.35 0.00 0.00 95,802.89 McGuire, Phillip 59,990.23 5,823.00 0.00 0.00 65,83.23 Miller, Kevin J. 07,30.78 4,96.40 0.00 0.00 2,047.8 Myers, David M. 95,520.78 4,96.40 0.00 0.00 00,437.8 Nasca, Michael R. 4,06.77 3,606.97 0.00 0.00 7,623.74 Peters, John 79,866. 4,96.40 0.00 0.00 84,782.5 Rodewald, Kurt 74,892.73 4,96.40 0.00 0.00 79,809.3 Roman, Kurtis M.,836.24,944.57 0.00 0.00 3,780.8 Romberger, Brandton 5,778.63 6,233.37 0.00 0.00 22,02.00 Rubio, Gilbert A. 99,779.37 5,263.0 8,892.36 0.00 3,934.83 Sashko, Brad T. 38,99.86 4,528.20 0.00 0.00 42,728.06 Starkey, Timothy 5,960.02 5,823.00 0.00 0.00 57,783.02 Stone, Jacqueline 59,830.73 4,96.40 0.00 0.00 64,747.3 Yoder, Benjamin 59,24.62 7,528.8 0.00 0.00 66,770.43 Total 2,52,225.67 33,898.3 8,892.36 0.00 2,295,06.6 Service Purchases 4-420-00 4-440-00 4-450-00 Prior Year Interest from Other Member Name - Type of Purchase Contributions Members Revenue Total Rubio, Gilbert A. - Reciprocity - Principal 8,892.36 0.00 0.00 8,892.36 Rubio, Gilbert A. - Reciprocity- Interest 0.00 07.64 0.00 07.64 Total 8,892.36 07.64 0.00 9,000.00 9-

Batches 22947 Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date /30/206 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental - Vision Insurance Medical - Benistar QILDRO Deduct Federal Tax Duty Disability ***-**5230 0570 Bing, Ronald S. 0 $5,576.68 $5,576.68 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**5230 Subtotal: $5,576.68 $5,576.68 $0.00 $0.00 $0.00 $0.00 $0.00 ***-**54 05705 Greissinger, Gary S. 0 $2,502.80 $3,752.5 $0.00 $0.00 $932.00 $0.00 $37.35 ***-**54 Subtotal: $2,502.80 $3,752.5 $0.00 $0.00 $932.00 $0.00 $37.35 Duty Disability Subtotal: $8,079.48 $9,328.83 $0.00 $0.00 $932.00 $0.00 $37.35 QILDRO ***-**675 Q05708 Carew, Sharon J. 0 $,928.72 $2,30.97 $0.00 $0.00 $0.00 $0.00 $202.25 ***-**675 Subtotal: $,928.72 $2,30.97 $0.00 $0.00 $0.00 $0.00 $202.25 QILDRO Subtotal: $,928.72 $2,30.97 $0.00 $0.00 $0.00 $0.00 $202.25 Service ***-**5972 05706 Adams, Craig F. 0 $5,744.64 $8,64.35 $,96.00 $0.00 $0.00 $0.00 $,590.7 ***-**5972 Subtotal: $5,744.64 $8,64.35 $,96.00 $0.00 $0.00 $0.00 $,590.7 ***-**49 05699 Brown, David A. 0 $3,575.50 $4,66.27 $0.00 $0.00 $0.00 $0.00 $590.77 ***-**49 Subtotal: $3,575.50 $4,66.27 $0.00 $0.00 $0.00 $0.00 $590.77 0-

Batches 22947 Mundelein Firefighters' Pension Fund Multiple Batch Report Check Date /30/206 SSN Family ID Employee Name Alt Payee Name ACH Check # Net Amount Member Gross Health Insurance Dental - Vision Insurance Medical - Benistar QILDRO Deduct Federal Tax ***-**0990 05704 Carew, James E. 0 $,568.37 $4,26.94 $0.00 $56.00 $466.00 $2,30.97 $40.60 ***-**0990 Subtotal: $,568.37 $4,26.94 $0.00 $56.00 $466.00 $2,30.97 $40.60 ***-**4758 05703 Grant, Ronald G. 0 $5,76.50 $7,099.94 $0.00 $0.00 $0.00 $0.00 $,338.44 ***-**4758 Subtotal: $5,76.50 $7,099.94 $0.00 $0.00 $0.00 $0.00 $,338.44 ***-**790 05700 Justus, Randy C. 0 $8,255.27 $0,078.95 $0.00 $0.00 $0.00 $0.00 $,823.68 ***-**790 Subtotal: $8,255.27 $0,078.95 $0.00 $0.00 $0.00 $0.00 $,823.68 ***-**7265 05707 Lawrence, Michael J. 0 $4,785.43 $6,72.6 $0.00 $0.00 $0.00 $0.00 $,386.73 ***-**7265 Subtotal: $4,785.43 $6,72.6 $0.00 $0.00 $0.00 $0.00 $,386.73 ***-**6903 09765 LoMastro, Carl M. 0 $3,40.86 $5,406.37 $,98.00 $80.00 $0.00 $0.00 $626.5 ***-**6903 Subtotal: $3,40.86 $5,406.37 $,98.00 $80.00 $0.00 $0.00 $626.5 ***-**4824 05698 McKinley, Kevin M. 0 $5,379.93 $7,530.0 $,96.00 $0.00 $0.00 $0.00 $844.08 ***-**4824 Subtotal: $5,379.93 $7,530.0 $,96.00 $0.00 $0.00 $0.00 $844.08 ***-**2482 05702 Sorby, Kurt R. 0 $5,960.48 $6,795.29 $0.00 $0.00 $0.00 $0.00 $834.8 ***-**2482 Subtotal: $5,960.48 $6,795.29 $0.00 $0.00 $0.00 $0.00 $834.8 0-2

Quarterly Vendor Check Report All Bank Accounts September, 206 - November 30, 206 Check Invoice Check Date Number Vendor Name Amount Amount 09/26/6 5075 US Bank 52-90-02 Monthly Fee 2.09 Check Amount 2.09 09/29/6 20222 Lauterbach & Amen, LLP 52-70-03 #604 04/6 Accounting Service 820.00 52-70-03 #604 04/6 Payroll Service 70.00 52-70-03 #7342 07/6 Accounting Service 845.00 52-70-03 #7342 07/6 Payroll Service 75.00 52-70-03 #756 FYE6 Workpapers 980.00 Check Amount 2,990.00 09/29/6 20223 Reimer Dobrovolny & Karlson LLC 52-70-05 C2695 F2038 Legal Service 250.00 Check Amount 250.00 09/30/6 20224 Benistar/UA-6083 20-220-00 Benistar Insurance,398.00 Check Amount,398.00 09/30/6 20225 North Suburban Employee 20-220-00 Dental/Vision Insurance - 09/6 456.00 Check Amount 456.00 09/30/6 20226 North Suburban Employee Benefit 20-220-00 Medical Insurance - 09/6 3,590.00 Check Amount 3,590.00 09/30/6 5074 Northern Trust Corp 52-90-0 Monthly Fee 935.80 Check Amount 935.80 0/4/6 5077 Graystone Consulting 52-90-0 Investment Manager/Advisor Fee 206/Q4 4,999.33 Check Amount 4,999.33 0/4/6 5078 MSSB (McDonnell Investment) 52-90-0 Investment Manager/Advisor Fee 206/Q4,68.50 Check Amount,68.50 0/26/6 5079 Graystone Consulting 52-90-0 Investment Manager/Advisor Fee 206/Q4,799.06 Check Amount,799.06 -

Quarterly Vendor Check Report All Bank Accounts September, 206 - November 30, 206 Check Invoice Check Date Number Vendor Name Amount Amount 0/27/6 5076 US Bank Corp 52-90-02 Monthly Fee - 09/6.94 Check Amount.94 0/28/6 20227 Lauterbach & Amen, LLP 52-70-03 #7959 08/6 Accounting Service 845.00 52-70-03 #7959 08/6 Payroll Service 75.00 Check Amount,020.00 0/28/6 20228 Reimer Dobrovolny & Karlson LLC 52-70-05 C2695 F244 Legal Service 250.00 Check Amount 250.00 0/3/6 20229 Benistar/UA-6083 20-220-00 Benistar Insurance,398.00 Check Amount,398.00 0/3/6 20230 North Suburban Employee 20-220-00 Dental Insurance - 0/6 456.00 Check Amount 456.00 0/3/6 2023 North Suburban Employee Benefit 20-220-00 Medical Insurance - 0/6 3,590.00 Check Amount 3,590.00 /25/6 5080 US Bank Corp 52-90-02 Custodial/Trust Fee - 0/6 24.92 Check Amount 24.92 /29/6 20232 IPPFA 52-290-25 206 Fall Registration Lockwood,J 465.00 Check Amount 465.00 /29/6 20233 Lauterbach & Amen, LLP 52-70-03 #8425 09/6 Accounting Service 845.00 52-70-03 #8425 09/6 Payroll Service 75.00 Check Amount,020.00 /30/6 20234 Internal Revenue Service 20-230-00 Internal Revenue Service 9,595.93 ACH Amount (Direct Deposit) 9,595.93 /30/6 20235 Benistar/UA-6083 20-220-00 Benistar Insurance - November,398.00 Check Amount,398.00-2

Quarterly Vendor Check Report All Bank Accounts September, 206 - November 30, 206 Check Invoice Check Date Number Vendor Name Amount Amount /30/6 20236 North Suburban Employee 20-220-00 Dental - Vision Insurance - November 456.00 Check Amount 456.00 /30/6 20237 North Suburban Employee Benefit 20-220-00 Medical Insurance - November 3,590.00 Check Amount 3,590.00 Total Payments 4,687.57-3

Monthly Financial Report For the Month Ended November 30, 2016