HomeMy WebLinkAbout2025.04.14 Fireman Pension Board Agenda Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
April 14, 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 Michael Rowe - Alternate
Mayor Pete Serrano Mayor Pro Tem David Milne - Alternate
Griselda Garcia, Interim Finance Director Debby Barham, City Clerk
2. Minutes:
Approve Fireman Pension Board Meeting Minutes.
Motion: I move to approve the January 13, 2025, Fireman Pension Board Meeting
Minutes.
3. Bills:
Approve 2025 First (1st) Quarter Transaction Ledger.
Motion: I move to approve the 2025 First (1st) Quarter expenditure transactions as
presented for a total of $44,774.57.
4. Financial Statement:
Review the 2025 First (1st) Quarter Financial Statements - presentation by Interim Finance
Director Garcia.
5. New Business:
6. Old Business:
7. Adjourn:
Next Regular Meeting: Monday, July 14, 2025
1.13.2025 Fireman Pension Board Meeting Minutes - Approved on _____________
City of Pasco
FIREMAN PENSION BOARD
JANUARY 13, 2025
MINUTES
Call To Order:
The meeting was called to order at 6:31 p.m., by Mayor Pro Tem Milne in Conference Room
No. 1 at Pasco City Hall.
Roll Call:
Present: Mayor Pro Tem David Milne, Alternate Chair; Scott Maloy, Board Member; Harvey
Swoboda, Board Member; Darcy Buckley, Finance Manager; and Debby Barham, City Clerk.
Approval of Minutes:
Mr. Swoboda moved to approve October 15, 2024 meeting minutes. Seconded by Mr. Maloy.
Motion carrier unanimously.
Transaction Ledger:
Mr. Swoboda moved to approve the expenditure transactions as presented for a total of
$45,119.10 Seconded by Mr. Maloy. Motion carried unanimously.
Financial Report:
The Board discussed the Fourth (4th) Quarter financial statement presented by Ms. Buckley.
New Business:
Mr. Swoboda was congratulated for his recent re-election to the Fireman Pension Board for
another two-year term. It was also noted that Michael Rowe was elected as the alternate
Fireman Board member.
Old Business:
None.
Adjournment:
There being no other business, the meeting was adjourned at 6:38 p.m.
________________________________
Debra Barham, Secretary
DRAFT
Number Date
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
FUND 610 - PENSION
54872 1/1/2025 1/8/2025
Payroll Check Parks, Randall 1,330.72
54882 2/1/2025 2/12/2025
Payroll Check Parks, Randall 1,540.11
54899 3/1/2025 3/8/2025
Payroll Check Parks, Randall 1,540.11
$ 4,410.94
EFT
30219631 1/1/2025 1/2/2025
Payroll EFT Ellingson, Janet 1,193.16
30202044 1/1/2025 1/2/2025
Payroll EFT Maloy, Walter 2,293.12
30204675 1/1/2025 1/2/2025
Payroll EFT Swoboda, Harvey 1,879.89
30220922 2/1/2025 2/3/2025
Payroll EFT Ellingson, Janet 1,193.16
30203346 2/1/2025 2/3/2025
Payroll EFT Maloy, Walter 2,575.34
30203347 2/1/2025 2/3/2025
Payroll EFT Swoboda, Harvey 2,178.03
30222213 3/1/2025 3/3/2025
Payroll EFT Ellingson, Janet 1,193.16
30204674 3/1/2025 3/3/2025
Payroll EFT Maloy, Walter 2,575.34
30204675 3/1/2025 3/3/2025
Payroll EFT Swoboda, Harvey 2,178.03
17,259.23$
Journal Entry
2025009 3/3/2025 Annual actuary report Healthcare Actuaries 1,750.00
1,750.00$
All Types Totals Fund 610 - Pension $ 23,420.17
FUND 619 - OPEB (Medical)
Journal Entry
2025-0002104 1/1/2025 Old Fire Pension Health Ins Prem City of Pasco 5,836.00
2025-0002104 2/1/2025 Old Fire Pension Health Ins Prem City of Pasco 5,836.00
2025-0002104 3/1/2025 Old Fire Pension Health Ins Prem
City of Pasco 5,836.00
17,508.00$
Journal Entry
2025009 3/3/2025 Annual actuary report Healthcare Actuaries 1,750.00
270073 2/19/2025 Medical Reimbursement Butler Ted 2,096.40
3,846.40$
$ 21,354.40
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 1/1/2025 - To Payment Date: 3/31/2025
Check
All Types Totals: Fund 619 - OPEB (Medical)
Page 1 of 1
CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 1st Quarter 2025
January 1 to March 31, 2025
BALANCE SHEET BOOK MARKET BOOK MARKET BOOK MARKET BOOK MARKET
VALUE VALUE VALUE VALUE VALUE VALUE VALUE VALUE
ASSETS
CASH - INVESTED WITH CITY PORTFOLIO 66,730 66,730 84,734 84,734 846,524 846,524 729,386 729,386
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA* 4,463,908 4,463,908 3,732,144 3,732,144
AMERICAN FUNDS - WASH. MUT. INVESTORS* 5,377,432 5,377,432 4,582,749 4,582,749
FEDERAL SECURITIES (4.875% - 5.250%)
SBA Dev. PARTICIPATION CERTIFICATES 1,827 1,827 2,718 2,718
INVESTMENT IN LID 146 1,386 1,386 2,906 2,906
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 5,444,162 5,444,162 4,667,483 4,667,483 5,313,644 5,313,644 4,467,155 4,467,155
FUND EQUITY
RESERVED FUND EQUITY 5,444,162 4,667,483 5,313,644 4,467,155
TOTAL LIABILITIES AND FUND EQUITY 5,444,162 4,667,483 5,313,644 4,467,155
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/May) - -
INTEREST INCOME-AMERICAN FUNDS 17,907 904 12,400 11,478
INVESTMENT INTEREST INCOME - 16,424 - 7,283
UNREALIZED GAIN/LOSS (1,067) - (142,391) -
TOTAL REVENUES 16,840 17,329 (129,991) 18,761
EXPENDITURES
PENSIONS 21,670 17,146
MISCELLANEOUS PROF SERVICES 1,750 - 1,750 -
ADMINISTRATIVE SERVICES - 281 - 828
MEDICAL INSURANCE - INTERFUND 17,508 21,885 - -
1RETIREE MEDICAL SERVICES 2,096 - - -
TOTAL EXPENDITURES 21,354 22,166 23,420 17,974
REVENUES OVER/(UNDER) EXPENDITURES (4,514) (4,838) (153,411) 787
*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-Mar 31-Mar 31-Mar 31-Mar
2025 2024 2025 2024
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
31-Mar 31-Mar 31-Mar 31-Mar
2025 2024 2025 2024