HomeMy WebLinkAbout2022.08.19 - Revised 2022 2nd Qtr Financial Statement Updated 8.19.22CITY 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 47,160 47,160 622,855 622,855 553,676 553,676
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 5,555 5,555 9,088 9,088
INVESTMENT IN LID 146 3,837 3,837 4,821 4,821
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 4,564,351 4,564,351 3,602,136 3,602,136 4,172,902 4,172,902 3,434,497 3,434,497
FUND EQUITY
RESERVED FUND EQUITY 4,564,351 3,602,136 4,172,902 3,434,497
TOTAL LIABILITIES AND FUND EQUITY 4,564,351 3,602,136 4,172,902 3,434,497
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 30,506 14,526 21,189 10,004
INVESTMENT INTEREST INCOME 77 9 873 371
UNREALIZED GAIN/ LOSS 240
TOTAL REVENUES 30,582 14,535 129,245 108,986
EXPENDITURES
PENSIONS 41,063 38,999
MISCELLANEOUS PROF SERVICES 375 190 3,500 1,750
ADMINISTRATIVE SERVICES 758 581 929 857
MEDICAL INSURANCE - INTERFUND 43,770 43,770
1 RETIREE MEDICAL SERVICES - - - -
TOTAL EXPENDITURES 44,903 44,541 45,492 41,606
REVENUES OVER/ ( UNDER) EXPENDITURES (14,321) (30,006) 83,754 67,380
*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.
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
UNADJUSTED FINAL UNADJUSTED FINAL
30-Jun 30-Jun 30-Jun 30-Jun
2022 2021 2022 2021
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
30-Jun 30-Jun 30-Jun 30-Jun
2022 2021 2022 2021