HomeMy WebLinkAbout2024.10.15 Fireman Pension Board Agenda Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
October 15, 2024
6:30 p.m.
Pasco City Hall, Pasco Conference Room, 1st Floor
525 N. Third Avenue, Pasco, WA 99301
1. Call to order and Roll call:
Present: Scott Maloy Harvey Swoboda VACANT - Alternate
Mayor Pete Serrano Mayor Pro Tem David Milne - Alternate
Darcy Buckley, Finance Director Debby Barham, City Clerk
2. Minutes:
Approve Fireman Pension Board Meeting Minutes.
Motion: I move to approve the July 22, 2024 Fireman Pension Board Meeting
Minutes.
3. Bills:
Approve 2024 Third (3rd) Quarter Transaction Ledger.
Motion: I move to approve the 2024 Third (3rd) Quarter expenditure transactions as
presented for a total of $44506.17.
4. Financial Statement:
Review the 2024 Third (3rd) Quarter Financial Statement - presentation by Finance Director
Buckley
5. New Business:
Proposed Meeting Schedule for 2025
6. Old Business:
7. Adjourn:
Next Regular Meeting: Monday, January 13, 2025
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City of Pasco
FIREMAN PENSION BOARD
July 22, 2024
MINUTES
Call to Order:
The meeting was called to order at 6:35 PM, by Mayor Serrano in Pasco Conference located
in Pasco City Hall.
Roll Call:
Present: Mayor Pete Serrano, Chair; Harvey Swoboda, Board Member; Scott Maloy, Board
Member; Darcy Buckley, Finance Director; and Debra Barham, City Clerk.
Minutes:
Approve Fireman Pension Board Meeting Minutes.
Motion: Mr. Maloy moved to approve the April 8, 2024 and July 8, 2024 Fireman Pension
Board Meeting Minutes. Seconded by Mr. Swoboda. Motion carried unanimously.
Bills:
Approve 2024 Second (2nd) Quarter Transaction Ledger.
Motion: Ms. Swoboda moved to approve the 2024 Second (2nd) Quarter expenditure
transactions as presented for a total of $59,584.98. Seconded by Ms. Barham. Motion
carried unanimously.
Financial Statement:
Ms. Buckley provided a brief overview of the 2024 Second (2nd) Quarter Financial
Statement.
Old Business:
Follow up to RCW Section 41.18.140 Funeral Expenses Reimbursement Increase – Finance
Director Buckley
Ms. Buckley confirmed that the increase for funeral expenses reimbursement when into
effect in June 2024.
Adjournment:
The meeting adjourned at 6:45 PM
________________________________
Debra Barham, Secretary
July 22, 2024, Fireman Pension Board Meeting Minutes - Approved on _____________
DRAFT
Number Date Reconciled/
Voided Date Source Payee Name Transaction
Amount
FUND 610 - PENSION
54767 7/1/2024 7/24/2024 Payroll Check Parks, Randall 1,330.72
54794 8/1/2024 8/27/2024 Payroll Check Parks, Randall 1,330.72
54822 9/1/2024 9/9/2024 Payroll Check Parks, Randall 1,330.72
$ 3,992.16
EFT
30210780 7/1/2024 7/1/2024 Payroll EFT Ellingson, Janet 1,193.16
30210781 7/1/2024 7/1/2024 Payroll EFT Maloy, Walter 2,293.12
30210782 7/1/2024 7/1/2024 Payroll EFT Swoboda, Harvey 1,879.89
30212203 8/1/2024 8/1/2024 Payroll EFT Ellingson, Janet 1,193.16
30212204 8/1/2024 8/1/2024 Payroll EFT Maloy, Walter 2,293.12
30212205 8/1/2024 8/1/2024 Payroll EFT Swoboda, Harvey 1,879.89
30213629 9/1/2024 9/3/2024 Payroll EFT Ellingson, Janet 1,193.16
30213630 9/1/2024 9/3/2024 Payroll EFT Maloy, Walter 2,293.12
30213631 9/1/2024 9/3/2024 Payroll EFT Swoboda, Harvey 1,879.89
16,098.51$
Journal Entry
2024-00003104 7/1/2024 I/F Admin Services 732.58
2024-00003104 8/1/2024 I/F Admin Services 732.58
2024-00003104 9/1/2024 I/F Admin Services 732.58
2,197.74$
All Types Totals Fund 610 - Pension $ 22,288.41
FUND 619 - OPEB (Medical)
Journal Entry
2024-00001957 7/1/2024 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2024-00001957 8/1/2024 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2024-00001957 9/1/2024 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2024-00003104 7/1/2024 I/F Admin Services 110.92
2024-00003104 8/1/2024 I/F Admin Services 110.92
2024-00003104 9/1/2024 I/F Admin Services 110.92
22,217.76$
$ 22,217.76
All Types Totals: Fund 619 - OPEB (Medical)
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 7/1/2024 - To Payment Date: 9/30/2024
Check
Page 1 of 1
CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 3rd Quarter 2024
January 1 to September 30, 2024
BALANCE SHEET BOOK MARKET BOOK MARKET BOOK MARKET BOOK MARKET
VALUE VALUE VALUE VALUE VALUE VALUE VALUE VALUE
ASSETS
CASH - INVESTED WITH CITY PORTFOLIO 70,634 70,634 83,229 83,229 846,649 846,649 718,001 718,001
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA*
AMERICAN FUNDS - WASH. MUT. INVESTORS*5,398,023 5,398,023 4,250,189 4,250,189 4,524,379 4,524,379 3,390,971 3,390,971
FEDERAL SECURITIES (4.875% - 5.250%)2,261 2,261 3,552 3,552
SBA Dev. PARTICIPATION CERTIFICATES
INVESTMENT IN LID 146 1,511 1,511 2,906 2,906
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 5,468,657 5,468,657 4,333,417 4,333,417 5,374,800 5,374,800 4,115,430 4,115,430
LIABILITIES
ACCOUNTS PAYABLE - -
FUND EQUITY
RESERVED FUND EQUITY 5,468,657 4,333,417 5,374,800 4,115,430
TOTAL LIABILITIES AND FUND EQUITY 5,468,657 4,333,417 5,374,800 4,115,430
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/ May)138,235 123,869
INTEREST INCOME-AMERICAN FUNDS 50,034 47,456 34,480 43,979
INVESTMENT INTEREST INCOME 2,365 1,148 24,778 10,975
UNREALIZED GAIN/ LOSS 815,274 273,274 792,339 441,781
TOTAL REVENUES 867,673 321,877 989,833 620,603
EXPENDITURES
PENSIONS 62,956 70,438
MISCELLANEOUS PROF SERVICES 3,700 - 5,750 -
ADMINISTRATIVE SERVICES 998 844 6,593 2,483
MEDICAL INSURANCE - INTERFUND 65,655 65,655 - -
1 RETIREE MEDICAL SERVICES - - - -
TOTAL EXPENDITURES 70,353 66,499 75,300 72,921
REVENUES OVER/ (UNDER) EXPENDITURES 797,320 255,378 914,533 547,682
*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.
2024 2023 2024 2023
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
30-Sep 30-Sep 30-Sep 30-Sep
30-Sep 30-Sep 30-Sep 30-Sep
2024 2023 2024 2023
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
UNADJUSTED FINAL UNADJUSTED FINAL
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
2025
Quarterly Meeting Schedule
(Date subject to change due to availability of participants)
Location: Pasco City Hall
Pasco Conference Room (No. 1)
Monday, January 13, 2025 6:30pm
Monday, April 14, 2025 6:30pm
Monday, July 14, 2025 6:30pm
Tuesday, October 14, 2025 6:30pm (Monday is a Federal
Holiday – Columbus Day)