HomeMy WebLinkAbout2022.07.11 Fireman Pension Board Agenda Packet - CANCELLED
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
July 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 April 11, 2022, Meeting Minutes.
Motion: I move to approve the April 11, 2022, Meeting Minutes.
2. Bills:
Approve 2022 Second (2nd) Quarter Transaction Ledger.
Motion: I move to approve the expenditure transactions as presented.
3. Financial Statement:
2022 Second (2nd) Quarter Financial Statements - presentation by Finance Manager
Buckley
4. New Business:
New Cost of Living Adjustments Effective July 1, 2022 – Colleen Chapin, Human
Recourses Director
5. Old Business:
6. Adjourn:
Next Regular Meeting: October 10, 2022
January 10, 2022 Fireman Pension Board Meeting Minutes - Approved on _____________
City of Pasco
FIREMAN PENSION BOARD
APRIL 11, 2022
MINUTES
Call to Order:
The meeting was called to order at 6:06 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; Darcy Buckley, Finance Manager; and Debby Barham, City Clerk.
Approval of Minutes:
Mr. Covington moved, and Mr. Swoboda seconded a motion to approve January 10, 2022,
meeting minutes. Motion carried unanimously.
Transaction Ledger:
Ms. Buckley presented a copy of the 2022 1ST 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 2022 1st Quarter financial statement presented by Ms.
Buckley.
New Business:
None.
Old Business:
None.
Adjournment:
There being no other business, the meeting was adjourned at 6:11 p.m.
________________________________
Debra Barham, Secretary
DRAFT
Number Date Reconciled/
Voided Date Source Payee Name Transaction
Amount
FUND 610 - PENSION
Journal Entry
2022-00000704 4/1/2022 Administrative Expense Chargeback City of Pasco 154.83
2022-00000704 5/1/2022 Administrative Expense Chargeback City of Pasco 154.83
2022-0000074 6/1/2022 Administrative Expense Chargeback City of Pasco 154.83
Type JE Totals:$464.49
53864 4/1/2022 4/11/2022 Payroll Check Parks, Randall 1,303.37
53865 4/1/2022 4/4/2022 Payroll Check Swoboda, Harvey 1,722.77
53891 5/1/2022 5/9/2022 Payroll Check Parks, Randall 1,303.37
53892 5/1/2022 5/5/2022 Payroll Check Swoboda, Harvey 1,722.77
53918 6/1/2022 Payroll Check Parks, Randall 1,170.71
$7,222.99
EFT
30173642 4/1/2022 4/1/2022 Payroll EFT Covington, Alvie 938.57
30173643 4/1/2022 4/1/2022 Payroll EFT Ellingson, Janet 886.60
30173644 4/1/2022 4/1/2022 Payroll EFT Maloy, Walter 2,070.37
30174725 5/1/2022 5/2/2022 Payroll EFT Covington, Alvie 938.57
30174726 5/1/2022 5/2/2022 Payroll EFT Ellingson, Janet 886.60
30174727 5/1/2022 5/2/2022 Payroll EFT Maloy, Walter 2,070.37
30175834 6/1/2022 Payroll EFT Covington, Alvie 783.13
30175835 6/1/2022 Payroll EFT Ellingson, Janet 1,057.51
30175836 6/1/2022 Payroll EFT Maloy, Walter 1,910.89
30175837 6/1/2022 Payroll EFT Swoboda, Harvey 1,531.99
2 - Payroll Totals 26 Transactions $13,074.60
All Types Totals Fund 610 - Pension $20,762.08
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 4/1/2022 - To Payment Date: 6/30/2022
2 - Payroll
Check
Page 1 of 2
Number Date Reconciled/
Voided Date Source Payee Name Transaction
Amount
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 4/1/2022 - To Payment Date: 6/30/2022
FUND 619 - OPEB (Medical)
Journal Entry
2022-00000704 4/1/2022 Administrative Expense Chargeback City of Pasco 126.33
2022-00000704 5/1/2022 Administrative Expense Chargeback City of Pasco 126.33
2022-00000704 6/1/2022 Administrative Expense Chargeback City of Pasco 126.33
Administrative Expense Totals $ 378.99
$ 378.99
All Types Totals: Fund 619 - OPEB (Medical)
Page 2 of 2
CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS -2nd Quarter 2022
April 1 through June 30, 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 63,646 63,646 49,481 49,481 622,855 622,855 548,867 548,867
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA*3,540,655 3,540,655 3,540,655 3,540,655
AMERICAN FUNDS - WASH. MUT. INVESTORS*4,500,705 4,500,705 4,500,705 4,500,705
FEDERAL SECURITIES (4.875% - 5.250%)
SBA Dev. PARTICIPATION CERTIFICATES 5,555 5,555 6,700 6,700
INVESTMENT IN LID 146 3,837 3,837 3,837 3,837
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 4,564,351 4,564,351 4,550,186 4,550,186 4,172,902 4,172,902 4,100,059 4,100,059
FUND EQUITY
RESERVED FUND EQUITY 4,564,351 4,550,186 4,172,902 4,100,059
TOTAL LIABILITIES AND FUND EQUITY 4,564,351 4,550,186 4,172,902 4,100,059
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/ May)107,183 98,371
INTEREST INCOME-AMERICAN FUNDS 15,253 61,186 10,595 40,182
INVESTMENT INTEREST INCOME 45 945,751 557 674,124
UNREALIZED GAIN/ LOSS 326
TOTAL REVENUES 15,298 1,006,937 118,335 813,004
EXPENDITURES
PENSIONS 41,063 76,598
MISCELLANEOUS PROF SERVICES 375 190 3,500 1,750
ADMINISTRATIVE SERVICES 758 1,163 929 1,715
MEDICAL INSURANCE - INTERFUND 87,540
1 RETIREE MEDICAL SERVICES - - - -
TOTAL EXPENDITURES 1,133 88,893 45,492 80,062
REVENUES OVER/ ( UNDER) EXPENDITURES 14,165 918,044 72,843 732,942
*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.
1 This account was added to account for medical expense not covered by insurance for Old Fire Pensioners, which was previously accounted for in General Fund.
2022 2021 2022 2021
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
30-Jun 30-Jun 30-Jun 30-Jun
30-Jun 30-Jun 30-Jun 30-Jun
2022 2021 2022 2021
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
UNADJUSTED FINAL UNADJUSTED FINAL