HomeMy WebLinkAbout2023.07.10 Fireman Pension Board Agenda Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
July 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 April 10, 2023, Meeting Minutes.
Motion: I move to approve the April 10, 2023, Fireman Pension Board Meeting
Minutes.
2. Bills:
Approve 2023 Second (2nd) Quarter Transaction Ledger.
Motion: I move to approve the 2023 Second Quarter expenditure transactions as
presented.
3. Financial Statement:
2023 Second (2nd) Quarter Financial Statements - presentation by Finance Director
Buckley
4. New Business:
New Cost of Living Adjustments Effective July 1, 2023 –Human Resources Representative
5. Old Business:
6. Adjourn:
Next Regular Meeting: TUESDAY, October 10, 2023 (Monday is a federal holiday and
Council will meet on Tuesday)
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City of Pasco
FIREMAN PENSION BOARD
April 10, 2023
MINUTES
Call to Order:
The meeting was called to order at 6:08 PM, by Mayor Barajas in Conference Room No. 1 at
Pasco City Hall.
Roll Call:
Present: Mayor Barajas, Chair; Harvey Swoboda, Board Member; Scott Maloy, Alternate
Board Member, Darcy Buckley, Finance Director; and Debby Barham, City Clerk.
Approval of Minutes:
Mr. Swoboda moved, and Mr. Maloy seconded a motion to approve January 9, 2023, meeting
minutes. Motion carried unanimously.
Transaction Ledger:
Ms. Buckley presented a copy of the 2023 First (1st) Quarter Transaction Ledger.
Ms. Barham 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 2023 First (1st) Quarter financial statement.
New Business:
Old Business:
Mr. Swoboda asked if the October 2023 meeting date was changed and Ms. Barham
confirmed that, at the last meeting, the Fireman Pension Board changed their October 2023
from Monday, October 9th to Tuesday, October 10th to match the U.S. Federal holiday
scheduled 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.
DRAFT
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Adjournment:
There being no other business, the meeting was adjourned at 6:15 PM
________________________________
Debra Barham, Secretary
April 10, 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
54324 4/1/2023 4/6/2023 Payroll Check Parks, Randall 1,519.42
54344 5/1/2023 Payroll Check Parks, Randall 1,519.42
54372 6/1/2023 Payroll Check Parks, Randall 1,220.53
$ 4,259.37
EFT
30188842 4/1/2023 4/3/2023 Payroll EFT Covington, Alvie 1,140.46
30188843 4/1/2023 4/3/2023 Payroll EFT Ellingson, Janet 1,057.51
30188844 4/1/2023 4/3/2023 Payroll EFT Maloy, Walter 2,483.61
30188846 4/1/2023 4/3/2023 Payroll EFT Swoboda, Harvey 2,151.65
30188845 4/1/2023 4/3/2023 Payroll EFT Rowe, Michael 142.56
30190097 5/1/2023 Payroll EFT Covington, Alvie 1,140.46
30190098 5/1/2023 Payroll EFT Ellingson, Janet 1,057.51
30190099 5/1/2023 Payroll EFT Maloy, Walter 2,483.61
30190101 5/1/2023 Payroll EFT Swoboda, Harvey 2,151.65
30190100 5/1/2023 Payroll EFT Rowe, Michael 142.56
30191363 6/1/2023 Payroll EFT Covington, Alvie 797.31
30191364 6/1/2023 Payroll EFT Ellingson, Janet 1,130.70
30191365 6/1/2023 Payroll EFT Maloy, Walter 2,118.20
30191367 6/1/2023 Payroll EFT Swoboda, Harvey 1,723.71
19,721.50$
Journal Entry
2023-00002028 4/1/2023 April I/F Admin Services 275.90
2023-00002028 5/1/2023 May I/F Admin Services 275.90
2023-00002028 6/1/2023 June I/F Admin Services 275.90
827.70$
All Types Totals Fund 610 - Pension $ 24,808.57
FUND 619 - OPEB (Medical)
Journal Entry
2023-00001260 4/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2023-00001260 5/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2023-00001260 6/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
21,885.00$
Journal Entry
2023-00002028 4/1/2023 April I/F Admin Services 93.82
2023-00002028 5/1/2023 May I/F Admin Services 93.82
2023-00002028 6/1/2023 June I/F Admin Services 93.82
281.46$
$ 22,166.46
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 04/01/2023 - To Payment Date: 06/30/2023
Check
All Types Totals: Fund 619 - OPEB (Medical)
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CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 2nd Quarter 2023
January 1, 2023 to June 30, 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 73,333 73,333 35,161 35,161 616,638 616,638 633,766 633,766
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 3,668 3,668 5,555 5,555
INVESTMENT IN LID 146 3,287 3,287 3,837 3,837
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 4,050,248 4,050,248 4,535,866 4,535,866 3,572,822 3,572,822 4,183,812 4,183,812
FUND EQUITY
RESERVED FUND EQUITY 4,050,248 4,535,866 3,572,822 4,183,812
TOTAL LIABILITIES AND FUND EQUITY 4,050,248 4,535,866 3,572,822 4,183,812
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/ May)- 107,183
INTEREST INCOME-AMERICAN FUNDS 15,687 30,506 48,587 21,189
INVESTMENT INTEREST INCOME 855 77 7,609 873
UNREALIZED GAIN/ LOSS - - - -
TOTAL REVENUES 16,542 30,582 56,196 129,245
EXPENDITURES
PENSIONS 49,467 41,063
MISCELLANEOUS PROF SERVICES - 375 - 3,500
ADMINISTRATIVE SERVICES 563 758 1,655 929
MEDICAL INSURANCE - INTERFUND 43,770 43,770 -
1 RETIREE MEDICAL SERVICES - - - -
TOTAL EXPENDITURES 44,333 44,903 51,122 45,492
REVENUES OVER/ (UNDER) EXPENDITURES (27,791) (14,321) 5,074 83,754
*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
2023 2022 2023 2022
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
30-Jun 30-Jun 30-Jun 30-Jun
2023 2022 2023 2022