Financial Advisory Board — Naperville, IL
Date: 2025-01-27

400 S. Eagle Street
 City of Naperville Naperville, IL 60540



 Meeting Agenda

 Financial Advisory Board

Monday, January 27, 2025 6:00 PM NEU




A. CALL TO ORDER:

B. ROLL CALL:

C. PUBLIC FORUM:

D. REPORTS:
 25-0092 Approve the minutes of the October 28, 2024 regular meeting

 25-0093 Receive the 4th quarter investment report

 25-0094 Receive the annual investment account review from Mesirow Financial


E. NEW BUSINESS:
 25-0091 Approve the 2024 Financial Advisory Board Annual Report


F. OLD BUSINESS:

G. ADJOURNMENT:
 Any individual with a disability requesting a reasonable accommodation in order to
 participate in a public meeting should contact the Communications Department at least
 48 hours in advance of the scheduled meeting. The Communications Department can
 be reached in person at 400 S. Eagle Street, Naperville, IL., via telephone at
 630-420-6707 or 630-305-5205 (TDD) or via e-mail at info@naperville.il.us. Every effort
 will be made to allow for meeting participation.




City of Naperville Page 1 Printed on 1/22/2025

400 S. Eagle Street
 City of Naperville Naperville, IL 60540
 http://www.naperville.il.us/

 Meeting Minutes - Final

 Financial Advisory Board


Monday, January 27, 2025 6:00 PM NEU


A. CALL TO ORDER:

 Chairman Edward Harvey called the meeting to order at 6:01 p.m.




B. ROLL CALL:

 Also present: Raymond Munch (Finance Director), Melanie Smith (Accountant),
 Jack Scannes & Mike Piotrowski (Marquette Advisors), Allen Xu and Adithi
 Basapuram (Student Representatives), Dave Nirtaut (Mesirow)

 Present 8- Mark Gizzo, Mark Gizzo, Edward Harvey, Jignesh Patel, Curtis Williams, Curtis
 Williams, Thomas Gavin, and Jeanine Omeara
 Absent 2- Josh McBroom, and Jeff Walker


C. PUBLIC FORUM:

 None

D. REPORTS:

 Approve the minutes of the October 28, 2024 regular meeting

 Board member Gavin made a motion to approved the minutes, seconded by
 Gizzo. Motion approved by unanimous voice vote.

 Receive the 4th quarter investment report

 Mike Piotrowski provided a recap of markets for 2024. He also spoke
 about the upcoming year and his thoughts on the investment landscape.
 Jack Sannes from Marquette reviewed the performance report. He noted
 that Mesirow status is “On Notice” due to organizational issues. Sannes
 then reviewed Annualized Performance (net of fees) and the Fee
 Schedule.
 Piotrowski brought up the topic of Mesirow's transition to MetLife. From
 Marquette’s perspective, monitor closely, no moves yet. If we don’t feel
 comfortable, we have the option to move all the City’s funds to PFM and
 find a new money manager. We have flexibility and control. Agreed to
 have Mesirow here every quarterly meeting this year.

City of Naperville Page 1 Printed on 5/30/2025
Financial Advisory Board Meeting Minutes - Final January 27, 2025




 Receive the annual investment account review from Mesirow Financial

 David Nirtaut from Mesirow presented City's portfolio performance as of
 12/31/24. He spoke briefly about the economy and potential impact of
 tariffs on interest rates. He is comfortable where the portfolio is
 positioned right now. Met Life has acquired Mesirow, David Nirtaut will
 be still the lead.


E. NEW BUSINESS:

 Approve the 2024 Financial Advisory Board Annual Report

 Chairman Harvey made a motion to approve the 2024 Annual Report, seconded
 by Patel. Motion approved by unanimous voice vote.

F. OLD BUSINESS:

 None

G. ADJOURNMENT:

 Chairman Harvey made a motion to adjourn the meeting at approximately 7:15
 pm, seconded by Patel. Motion carried by unanimous voice vote and meeting
 adjourned.




 /S/ Melanie Smith
 Melanie Smith
 Accounting Manager




City of Naperville Page 2 Printed on 5/30/2025