HomeMy WebLinkAbout2023.10.10 Fireman Pension Board Agenda Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
October 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
Darcy Buckley, Finance Director Debby Barham, City Clerk
1. Minutes:
Approve July 10, 2023, Meeting Minutes.
Motion: I move to approve the July 10, 2023, Fireman Pension Board Meeting
Minutes.
2. Bills:
Approve 2023 Third (3rd) Quarter Transaction Ledger.
Motion: I move to approve the 2023 Third (3rd) Quarter expenditure transactions as
presented.
3. Financial Statement:
2023 Third (3rd) Quarter Financial Statements - presentation by Finance Director Buckley
4. New Business:
Proposed 2024 Meeting Schedule
Upcoming Board Elections
5. Old Business:
6. Adjourn:
Next Regular Meeting: Monday, January 8, 2024
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City of Pasco
FIREMAN PENSION BOARD
July 10, 2023
MINUTES
Call to Order:
The meeting was called to order at 6:05 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. Covington seconded a motion to approve April 10, 2023,
meeting minutes. Motion carried unanimously.
Transaction Ledger:
Ms. Buckley presented a copy of the 2023 Second (2nd) 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 Second (2nd) Quarter financial statement.
New Business:
Human Resources Specialist Daniela Segura provided a brief report on the n ew Cost of
Living Adjustments that went into effect on July 1, 2023.
Old Business:
Ms. Barham reminded the Board Members that the next meeting is for 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
July 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
54463 7/1/2023 7/14/2023 Payroll Check Parks, Randall 1,220.53
54516 8/1/2023 8/11/2023 Payroll Check Parks, Randall 1,220.53
54554 9/1/2023 Payroll Check Parks, Randall 1,220.53
$ 3,661.59
EFT
30193314 7/1/2023 7/3/2023 Payroll EFT Covington, Alvie 797.31
30193315 7/1/2023 7/3/2023 Payroll EFT Ellingson, Janet 1,130.70
30193316 7/1/2023 7/3/2023 Payroll EFT Maloy, Walter 2,118.20
30193317 7/1/2023 7/3/2023 Payroll EFT Swoboda, Harvey 1,723.71
30194681 8/1/2023 8/1/2023 Payroll EFT Covington, Alvie 797.31
30194682 8/1/2023 8/1/2023 Payroll EFT Ellingson, Janet 1,130.70
30194683 8/1/2023 8/1/2023 Payroll EFT Maloy, Walter 2,118.20
30194684 8/1/2023 8/1/2023 Payroll EFT Swoboda, Harvey 1,723.71
30196071 9/1/2023 Payroll EFT Covington, Alvie 797.31
30196072 9/1/2023 Payroll EFT Ellingson, Janet 1,130.70
30196073 9/1/2023 Payroll EFT Maloy, Walter 2,118.20
30196074 9/1/2023 Payroll EFT Swoboda, Harvey 1,723.71
17,309.76$
Journal Entry
2023-00002028 7/1/2023 April I/F Admin Services 275.90
2023-00002028 8/1/2023 May I/F Admin Services 275.90
2023-00002028 9/1/2023 June I/F Admin Services 275.90
827.70$
All Types Totals Fund 610 - Pension $ 21,799.05
FUND 619 - OPEB (Medical)
Check
257733 7/18/2023 Medical Reimbursement Butler, Ted 129.13
$129.13
Journal Entry
2023-00001260 7/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2023-00001260 8/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2023-00001260 9/1/2023 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
21,885.00$
Journal Entry
2023-00002028 7/1/2023 April I/F Admin Services 93.82
2023-00002028 8/1/2023 May I/F Admin Services 93.82
2023-00002028 9/1/2023 June I/F Admin Services 93.82
281.46$
$ 22,295.59
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 07/01/2023 - To Payment Date: 09/30/2023
Check
All Types Totals: Fund 619 - OPEB (Medical)
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CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 3rd Quarter 2023
January 1, 2023 to September 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 51,725 51,725 28,697 28,697 627,934 627,934 626,382 626,382
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA*3,390,971 3,390,971 2,661,079 2,661,079
AMERICAN FUNDS - WASH. MUT. INVESTORS*4,250,189 4,250,189 3,635,854 3,635,854
FEDERAL SECURITIES (4.875% - 5.250%)
SBA Dev. PARTICIPATION CERTIFICATES 1,203 1,203 5,555 5,555
INVESTMENT IN LID 146 3,287 3,287 3,837 3,837
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 4,301,914 4,301,914 3,664,551 3,664,551 4,023,394 4,023,394 3,296,853 3,296,853
FUND EQUITY
RESERVED FUND EQUITY 4,301,914 3,664,551 4,023,394 3,296,853
TOTAL LIABILITIES AND FUND EQUITY 4,301,914 3,664,551 4,023,394 3,296,853
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/ May)- 107,183
INTEREST INCOME-AMERICAN FUNDS 16,081 46,217 75,353 31,931
INVESTMENT INTEREST INCOME 1,148 166 11,473 2,575
UNREALIZED GAIN/ LOSS 273,274 (864,852) 441,741 (879,575)
TOTAL REVENUES 290,503 (818,468) 528,568 (737,887)
EXPENDITURES
PENSIONS 70,438 60,425
MISCELLANEOUS PROF SERVICES - 375 - 3,500
ADMINISTRATIVE SERVICES 844 1,137 2,483 1,393
MEDICAL INSURANCE - INTERFUND 65,655 65,655 -
1 RETIREE MEDICAL SERVICES 129 - - -
TOTAL EXPENDITURES 66,629 67,167 72,921 65,319
REVENUES OVER/ (UNDER) EXPENDITURES 223,875 (885,635) 455,647 (803,206)
*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-Sep 30-Sep 30-Sep 30-Sep
2023 2022 2023 2022
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
30-Sep 30-Sep 30-Sep 30-Sep
2023 2022 2023 2022
City Clerk’s Office • (509) 543-3096 • FAX (509) 543-5727
525 N. 3rd Ave. • P.O. Box 293 • Pasco, WA 99301 • www.pasco-wa.gov
Fireman’s Pension Board
2024
Quarterly Meeting Schedule
(Date subject to change due to availability of participants)
Location: Pasco City Hall
Conference Room No. 1
Monday, January 8, 2024 6:00pm
Monday, April 8, 2024 6:00pm
Monday, July 8, 2024 6:00pm
*Monday, October 14, 2024 6:00pm ?
Columbus Day/ Indigenous Peoples Day are also October 14th
and Pasco City Council will meet on Tuesday, October 15, 2024
instead of Monday due to federal holidays.