HomeMy WebLinkAbout2023.04.10 Fireman Pension Board Agenda Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
April 10, 2023
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 Director Debby Barham, City Clerk
1. Minutes:
Approve January 9, 2023, Meeting Minutes.
Motion: I move to approve the January 9, 2023, Fireman Pension Board Meeting
Minutes.
2. Bills:
Approve 2023 First (1st) Quarter Transaction Ledger.
Motion: I move to approve the 2023 first (1st) quarter expenditure transactions as
presented.
3. Financial Statement:
2023 First (1st) Quarter Financial Statements - presentation by Finance Director Buckley
4. New Business:
5. Old Business:
6. Adjourn:
Next Regular Meeting: July 10, 2023
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City of Pasco
FIREMAN PENSION BOARD
January 9, 2023
MINUTES
Call to Order:
The meeting was called to order at 6:01 PM, by Mayor Pro Tem Maloney in Conference Room
No. 1 at Pasco City Hall.
Roll Call:
Present: Mayor Pro Tem Maloney, Chair; Alvie Covington, Board Member; Harvey Swoboda,
Board Member; Darcy Buckley, Finance Director; and Debby Barham, City Clerk.
Approval of Minutes:
Mr. Swoboda moved, and Mr. Covington seconded a motion to approve October 1, 2022,
meeting minutes. Motion carried unanimously.
Transaction Ledger:
Ms. Buckley presented a copy of the 2022 Fourth (4th) Quarter Transaction Ledger.
Mr. Covington moved, and Mr. Swoboda seconded a motion to approve the expenditure
transactions as presented. Motion carried unanimously.
Financial Report:
Ms. Buckley provided a brief report on the 2022 Fourth (4th) Quarter financial statement.
New Business:
Board Election Results
Ms. Barham shared the results of the 2023-2024 Fireman Pension Board Member Election
held in December 2022.
Board Meeting Date Change
Ms. Barham suggested that the Fireman Pension Board change their October 2023 from
Monday, October 9th to Tuesday, October 10th to match the U.S. Federal holiday scheduled
DRAFT
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for Monday celebrating Columbus Day and U.S. Indigenous People’s Day. The Pasco City
Council will also move their meeting from Monday to Tuesday that same week.
The Board approved the meeting date change by consensus.
Old Business:
None.
Adjournment:
There being no other business, the meeting was adjourned at 6:12 PM
________________________________
Debra Barham, Secretary
January 9, 2023, Fireman Pension Board Meeting Minutes - Approved on _____________
FINANCIAL STATEMENTS -1st Quarter 2019
Number Date Reconciled/
Voided Date Source Payee Name Transaction
Amount
FUND 610 - PENSION
54239 1/1/2023 1/6/2023 Payroll Check Parks, Randall 1,519.42
54261 2/1/2023 2/10/2023 Payroll Check Parks, Randall 1,519.42
54262 2/1/2023 2/15/2023 Payroll Check Rowe, Michael 142.56
54298 3/1/2023 3/6/2023 Payroll Check Parks, Randall 1,519.42
54299 3/1/2023 3/2/2023 Payroll Check Rowe, Michael 142.56
$4,843.38
EFT
30185250 1/1/2023 1/3/2023 Payroll EFT Covington, Alvie 1,140.46
30185251 1/1/2023 1/3/2023 Payroll EFT Ellingson, Janet 1,057.51
30185252 1/1/2023 1/3/2023 Payroll EFT Maloy, Walter 2,483.61
30185253 1/1/2023 1/3/2023 Payroll EFT Swoboda, Harvey 2,151.65
30186427 2/1/2023 2/1/2023 Payroll EFT Covington, Alvie 1,140.46
30186428 2/1/2023 2/1/2023 Payroll EFT Ellingson, Janet 1,057.51
30186429 2/1/2023 2/1/2023 Payroll EFT Maloy, Walter 2,483.61
30186430 2/1/2023 2/1/2023 Payroll EFT Swoboda, Harvey 2,151.65
30187618 3/1/2023 3/1/2023 Payroll EFT Covington, Alvie 1,140.46
30187619 3/1/2023 3/1/2023 Payroll EFT Ellingson, Janet 1,057.51
30187620 3/1/2023 3/1/2023 Payroll EFT Maloy, Walter 2,483.61
30187621 3/1/2023 3/1/2023 Payroll EFT Swoboda, Harvey 2,151.65
30188845 3/31/2023 3/31/2023 Payroll EFT Rowe, Michael 142.56
$20,642.25
All Types Totals Fund 610 - Pension $25,485.63
FUND 619 - OPEB (Medical)
Journal Entry
2023-00001260 1/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2023-00001260 2/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2023-00001260 3/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00$
21,885.00$
$ 21,885.00
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 01/01/2023 - To Payment Date: 03/31/2023
Check
All Types Totals: Fund 619 - OPEB (Medical)
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CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 1st Quarter 2023
January 1, 2023 to March 31, 2023
BALANCE SHEET BOOK MARKET BOOK MARKET BOOK MARKET BOOK MARKET
VALUE VALUE VALUE VALUE VALUE VALUE VALUE VALUE
ASSETS
CASH - INVESTED WITH CITY PORTFOLIO 79,471 79,471 42,106 42,106 598,476 598,476 534,851 534,851
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA*2,949,230 2,949,230 3,540,655 3,540,655
AMERICAN FUNDS - WASH. MUT. INVESTORS*3,976,915 3,976,915 4,500,705 4,500,705
FEDERAL SECURITIES (4.875% - 5.250%)
SBA Dev. PARTICIPATION CERTIFICATES 4,342 4,342 6,700 6,700
INVESTMENT IN LID 146 3,287 3,287 3,837 3,837
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 4,056,386 4,056,386 4,542,812 4,542,812 3,555,335 3,555,335 4,086,043 4,086,043
FUND EQUITY
RESERVED FUND EQUITY 4,056,386 4,542,812 3,555,335 4,086,043
TOTAL LIABILITIES AND FUND EQUITY 4,056,386 4,542,812 3,555,335 4,086,043
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/ May)- -
INTEREST INCOME-AMERICAN FUNDS - 15,253 10,741 10,595
INVESTMENT INTEREST INCOME 231 11 2,331 119
UNREALIZED GAIN/ LOSS - - - -
TOTAL REVENUES 231 15,264 13,073 10,714
EXPENDITURES
PENSIONS 25,486 20,765
MISCELLANEOUS PROF SERVICES - 375 - 3,500
ADMINISTRATIVE SERVICES - 379 - 464
MEDICAL INSURANCE - INTERFUND 21,885 21,885 -
1 RETIREE MEDICAL SERVICES - - - -
TOTAL EXPENDITURES 21,885 22,639 25,486 24,730
REVENUES OVER/ (UNDER) EXPENDITURES (21,654) (7,375) (12,413) (14,016)
*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.
2023 2022 2023 2022
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
31-Mar 31-Mar 31-Mar 31-Mar
31-Mar 31-Mar 31-Mar 31-Mar
2023 2022 2023 2022
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
UNADJUSTED FINAL UNADJUSTED FINAL