HomeMy WebLinkAbout2025.01.13 Fireman Pension Board Agenda PacketFIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
January 13, 2025
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 October 15, 2024, Fireman Pension Board Meeting
Minutes.
3.Bills:
Approve 2024 Fourth (4th) Quarter Transaction Ledger.
Motion: I move to approve the 2024 Fourth (4th) Quarter expenditure
transactions as presented for a total of $45,119.10.
4.Financial Statement:
Review the 2024 Fourth (4th) Quarter Financial Statements - presentation by Finance
Director Buckley
5.New Business:
6.Old Business:
7.Adjourn:
Next Regular Meeting: Monday, April 14, 2025
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City of Pasco
FIREMAN PENSION BOARD
October 15, 2024
MINUTES
Call to Order:
The meeting was called to order at 6:35 PM, by Mayor Pro Tem Milne in Pasco Conference
located in Pasco City Hall.
Roll Call:
Present: Mayor Pro Tem David Milne, Alternate Chair; Harvey Swoboda, Board Member; and
Debra Barham, City Clerk.
Absent: Mayor Pete Serrano, Scott Maloy, Board Member and Darcy Buckley, Finance
Director
Minutes:
Approve Fireman Pension Board Meeting Minutes.
Motion: Mr. Swoboda moved to approve the July 22, 2024, Fireman Pension Board Meeting
Minutes. Seconded by Ms. Barham. Motion carried unanimously.
Bills:
Approve 2024 Third (3rd) Quarter Transaction Ledger.
Motion: Ms. Barham moved to approve the 2024 Third (3rd) Quarter expenditure transactions
as presented for a total of $44,506.17. Seconded by Mr. Swoboda. Motion carried
unanimously.
Financial Statement:
The 2024 Third (3rd) Quarter Financial Statement was reviewed briefly by the members
attending the meeting.
New Business:
The proposed 2025 meeting schedule was reviewed and approved by consensus.
Adjournment:
The meeting adjourned at 6:39 PM
________________________________
Debra Barham, Secretary
October 15, 2024, Fireman Pension Board Meeting Minutes - Approved on _____________
DRAFT
Number Date
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
FUND 610 - PENSION
54837 10/1/2024 10/23/2024
Payroll Check Parks, Randall 1,330.72
54848 11/1/2024 12/4/2024
Payroll Check Parks, Randall 1,330.72
54862 12/1/2024 12/20/2024
Payroll Check Parks, Randall 1,330.72
$ 3,992.16
EFT
30215003 10/1/2024 10/1/2024
Payroll EFT Ellingson, Janet 1,193.16
30215004 10/1/2024 10/1/2024
Payroll EFT Maloy, Walter 2,293.12
30215005 10/1/2024 10/1/2024
Payroll EFT Swoboda, Harvey 1,879.89
30217016 11/1/2024 11/1/2024
Payroll EFT Ellingson, Janet 1,193.16
30217017 11/1/2024 11/1/2024
Payroll EFT Maloy, Walter 2,293.12
30217018 11/1/2024 11/1/2024
Payroll EFT Swoboda, Harvey 1,879.89
30218327 12/1/2024 12/1/2024
Payroll EFT Ellingson, Janet 1,193.16
30218328 12/1/2024 12/1/2024
Payroll EFT Maloy, Walter 2,293.12
30218329 12/1/2024 12/1/2024
Payroll EFT Swoboda, Harvey 1,879.89
16,098.51$
Journal Entry
2024-00007761 10/1/2024 I/F Admin Services 289.70
2024-00007761 11/1/2024 I/F Admin Services 289.70
2024-00007761 12/1/2024 I/F Admin Services 289.70
869.10$
All Types Totals Fund 610 - Pension $ 20,959.77
FUND 619 - OPEB (Medical)
Check
268736 12/17/2024 12/19/2024
Medical reimbursement Ted Butler 1,978.80
$ 1,978.80
Journal Entry
2024-00001957 10/1/2024 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2024-00001957 11/1/2024 Old Fire Pension Health Ins Prem City of Pasco 7,295.00
2024-00001957 12/1/2024 Old Fire Pension Health Ins Prem
City of Pasco 7,295.00
2024-00007761 10/1/2024 I/F Admin Services 98.51
2024-00007761 11/1/2024 I/F Admin Services 98.51
2024-00007761 12/1/2024 I/F Admin Services 98.51
22,180.53$
$ 24,159.33
All Types Totals: Fund 619 - OPEB (Medical)
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 10/1/2024 - To Payment Date: 12/31/2024
Check
Page 1 of 1
CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 4th Quarter 2024
January 1 to December 31, 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 68,038 68,038 88,588 88,588 849,413 849,413 722,750 722,750
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA*
AMERICAN FUNDS - WASH. MUT. INVESTORS* 5,379,180 5,379,180 4,582,749 4,582,749 4,614,305 4,614,305 3,732,144 3,732,144
FEDERAL SECURITIES (4.875% - 5.250%) 1,827 1,827 2,718 2,718
SBA Dev. PARTICIPATION CERTIFICATES
INVESTMENT IN LID 146 1,511 1,511 2,906 2,906
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 5,447,217 5,447,217 4,671,337 4,671,337 5,467,055 5,467,055 4,460,518 4,460,518
LIABILITIES
ACCOUNTS PAYABLE - - 252
FUND EQUITY
RESERVED FUND EQUITY 5,447,217 4,671,337 5,467,055 4,460,266
TOTAL LIABILITIES AND FUND EQUITY 5,447,217 4,671,337 5,467,055 4,460,518
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 70,993 74,362 46,005 62,564
INVESTMENT INTEREST INCOME 2,858 1,767 32,652 17,916
UNREALIZED GAIN/LOSS 796,431 605,833 882,170 782,891
TOTAL REVENUES 870,282 681,963 1,099,063 987,239
EXPENDITURES
PENSIONS 83,047 91,409
MISCELLANEOUS PROF SERVICES 3,700 - 5,750 -
ADMINISTRATIVE SERVICES 1,182 1,126 3,476 3,311
MEDICAL INSURANCE - INTERFUND 87,540 87,540 - -
1RETIREE MEDICAL SERVICES 1,979 - - -
TOTAL EXPENDITURES 94,401 88,666 92,274 94,720
REVENUES OVER/(UNDER) EXPENDITURES 775,881 593,297 1,006,789 892,519
*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.
1This 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
31-Dec 31-Dec 31-Dec 31-Dec
2024 2023 2024 2023
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
31-Dec 31-Dec 31-Dec 31-Dec
2024 2023 2024 2023