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Home My WebLink About2022.04.11 Fireman Pension Board Agenda Packet FIREMAN PENSION BOARD Meeting Agenda ____________________________________________________________________ April 11, 2022 6:00 p.m. Pasco City Hall, Conference Room No. 1 525 N. Third Avenue, Pasco, WA 99301 1. Call to order and Roll call: Present:  Alvie Covington  Harvey Swoboda  Scott Maloy - Alternate  Mayor Blanche Barajas  Mayor Pro Tem Craig Maloney - Alternate  Darcy Buckley, Finance Manager  Debby Barham, City Clerk 1. Minutes: Approve January 10, 2022, Meeting Minutes. Motion was made by ___________________ and seconded by _______________ to approve the January 10, 2022, Meeting Minutes. 2. Bills: Approve 2022 First (1st) Quarter Transaction Ledger. Motion was made by ___________________ and seconded by _______________ to approve the expenditure transactions as presented. 3. Financial Statement: 2022 First (1st) Quarter Financial Statements - presentation by Finance Manager Buckley 4. New Business: 5. Old Business: 6. Adjourn: Next Regular Meeting: July 11, 2022 January 10, 2022 Fireman Pension Board Meeting Minutes - Approved on _____________ City of Pasco FIREMAN PENSION BOARD JANUARY 10, 2022 MINUTES Call to Order: The meeting was called to order at 6:02 p.m., by Mayor Blanche Barajas in Conference Room No. 1 at Pasco City Hall. Roll Call: Present: Mayor Blanche Barajas, Chair; Alvie Covington, Board Member; Harvey Swoboda, Board Member; Mayor Pro Tem Craig Maloney, Alternate Chair; Darcy Buckley, Finance Manager; and Debby Barham, City Clerk. Board Member Business: Chair Barajas introduced Mayor Pro Tem Maloney noting that he is the Alternate Chair and that she is the new Chair for the Old Firemen Pension Board for the next two (2) years. It was also announced that Mr. Swoboda was re-elected to the Board for another two-year period starting January 1, 2022 through December 31, 2023. Approval of Minutes: Mr. Covington noted two amendments needed to the October 2021 meeting minutes, removing “Mr. Harvey” and replacing it with “Mr. Covington” within the two motions approved during that meeting. Mr. Swoboda moved, and Mr. Covington seconded a motion to approve October 11, 2021 meeting minutes as amended. Motion carried unanimously. Transaction Ledger: Ms. Buckley presented a copy of the 2021 4th Quarter Transaction Ledger. Ms. Barham moved, and Mr. Covington seconded a motion to approve the expenditure transactions as presented. Motion carried unanimously. Financial Report: The Board briefly discussed the 2021 4th Quarter financial statement presented by Ms. Buckley. Ms. Buckley noted that she will provide follow-up with the Board regarding the DRAFT January 10, 2022 Fireman Pension Board Meeting Minutes - Approved on _____________ difference in the interest reported in the investments from 2020 and 2021 and it will be distributed at the next meeting. New Business: None. Old Business: None. Adjournment: There being no other business, the meeting was adjourned at 6:11 p.m. ________________________________ Debra Barham, Secretary Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount FUND 610 - PENSION Journal Entry 2022-00000704 1/1/2022 1/1/2022 Administrative Expense Chargeback City of Pasco 154.83 2022-00000704 2/1/2022 2/1/2022 Administrative Expense Chargeback City of Pasco 154.83 2022-0000074 3/1/2022 3/1/2022 Administrative Expense Chargeback City of Pasco 154.83 Type JE Totals:$464.49 53819 1/1/2022 1/5/2022 Payroll Check Parks, Randall 1,303.37 53820 1/1/2022 1/18/2022 Payroll Check Swoboda, Harvey 1,722.77 53837 2/1/2022 2/1/2022 Payroll Check Parks, Randall 1,303.37 53838 2/1/2022 2/14/2022 Payroll Check Swoboda, Harvey 1,722.77 53836 2/1/2022 2/3/2022 Payroll Check Covington, Alvie 938.57 53851 3/1/2022 Payroll Check Parks, Randall 1,303.37 538.52 3/1/2022 3/14/2022 Payroll Check Swoboda, Harvey 1,722.77 $10,016.99 EFT 30170480 1/1/2022 1/3/2022 Payroll EFT Covington, Alvie 938.57 30170481 1/1/2022 1/3/2022 Payroll EFT Ellingson, Janet 886.60 30170482 1/1/2022 1/3/2022 Payroll EFT Maloy, Walter 2,070.37 30171518 2/1/2022 2/1/2022 Payroll EFT Ellingson, Janet 886.60 30171519 2/1/2022 2/1/2022 Payroll EFT Maloy, Walter 2,070.37 30172572 3/1/2022 3/1/2022 Payroll EFT Covington, Alvie 938.57 30172573 3/1/2022 3/1/2022 Payroll EFT Ellingson, Janet 886.60 30172574 3/1/2022 3/1/2022 Payroll EFT Maloy, Walter 2,070.37 2 - Payroll Totals 26 Transactions $10,748.05 Professional Services Check 247362 3/1/2022 Professional Services Healthcare Actuaries 3,500.00 $3,500.00 All Types Totals Fund 610 - Pension $24,729.53 CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 1/1/2022 - To Payment Date: 3/31/2022 2 - Payroll Check Page 1 of 2 CITY OF PASCO FIRE PENSION FUND FINANCIAL STATEMENTS -1st Quarter 2022 JANUARY 1, 2022 THROUGH MARCH 31, 2022 BALANCE SHEET BOOK MARKET BOOK MARKET BOOK MARKET BOOK MARKET VALUE VALUE VALUE VALUE VALUE VALUE VALUE VALUE ASSETS CASH - INVESTED WITH CITY PORTFOLIO 63,989 63,989 55,284 55,284 534,823 461,481 INVESTMENTS AMERICAN FUNDS - INVEST CO. OF AMERICA*3,540,655 3,540,655 2,866,912 2,866,912 AMERICAN FUNDS - WASH. MUT. INVESTORS*4,500,705 4,500,705 3,554,976 3,554,976 FEDERAL SECURITIES (4.875% - 5.250%) SBA Dev. PARTICIPATION CERTIFICATES 6,700 6,700 10,567 10,567 INVESTMENT IN LID 146 3,837 3,837 8,469 8,469 INTEREST RECEIVABLE - INVESTMENTS - - TOTAL ASSETS 4,564,694 4,564,694 3,610,260 3,610,260 4,086,014 3,551,192 3,347,429 2,885,948 FUND EQUITY RESERVED FUND EQUITY 4,564,694 3,610,260 4,086,014 3,347,429 TOTAL LIABILITIES AND FUND EQUITY 4,564,694 3,610,260 4,086,014 3,347,429 STATEMENT OF REVENUES OVER EXPENDITURES EXCLUDING UNREALIZED GAINS & LOSSES REVENUES FIRE INSURANCE PREMIUM TAX (STATE-Annual/May)- - INTEREST INCOME-AMERICAN FUNDS 15,253 - 10,595 - INVESTMENT INTEREST INCOME 9 3 90 52 TOTAL REVENUES 15,262 3 10,685 52 EXPENDITURES PENSIONS 20,765 19,739 MISCELLANEOUS PROF SERVICES 375 - 3,500 - ADMINISTRATIVE SERVICES 379 522 464 431 MEDICAL INSURANCE - INTERFUND 21,885 1RETIREE MEDICAL SERVICES - - - - TOTAL EXPENDITURES 754 22,407 24,730 20,170 REVENUES OVER/(UNDER) EXPENDITURES 14,508 (22,404) (14,045) (20,119) *Book value as it relates to these statements is the fair market value at end of previous year plus reinvested dividends, less redemptions in current year. 1This account was added to account for medical expense not covered by insurance for Old Fire Pensioners, which was previously accounted for in General Fund. OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 UNADJUSTED FINAL UNADJUSTED FINAL 31-Mar 31-Mar 31-Mar 31-Mar 2022 2021 2022 2021 OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 31-Mar 31-Mar 31-Mar 31-Mar 2022 2021 2022 2021 Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 1/1/2022 - To Payment Date: 3/31/2022 FUND 619 - OPEB (Medical) Professional Services Check 247362 3/1/2022 Professional Services Healthcare Actuaries 375.00 $375.00 Journal Entry 2022-00000704 1/1/2022 1/1/2022 Administrative Expense Chargeback City of Pasco 126.33 2022-00000704 2/1/2022 2/1/2022 Administrative Expense Chargeback City of Pasco 126.33 2022-00000704 3/1/2022 3/1/2022 Administrative Expense Chargeback City of Pasco 126.33 Administrative Expense Totals $ 378.99 $ 753.99 All Types Totals: Fund 619 - OPEB (Medical) Page 2 of 2