HomeMy WebLinkAbout2025.07.14 Fireman Pension Board Agenda Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
July 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 April 14, 2025, Fireman Pension Board Meeting
Minutes.
3. Bills:
Approve 2025 Second (2nd) Quarter Transaction Ledger.
Motion: I move to approve the 2025 Second (2nd) Quarter expenditure transactions
as presented for a total of $42,295.41.
4. Financial Statement:
Review the 2025 Second (2nd) Financial Statements - presentation by Interim Finance
Director Garcia.
5. New Business:
6. Old Business:
7. Adjourn:
Next Regular Meeting: Tuesday, October 14, 2025
Monday, 10.13.25, is a federal legal holiday and therefore the Fireman Pension Board
meeting is moved to Tuesday to coincide with the City of Pasco’s Council Meeting
Schedule.
4.14.2025 Fireman Pension Board Meeting Minutes - Approved on _____________
City of Pasco
FIREMAN PENSION BOARD
APRIL 14, 2025
MINUTES
Call To Order:
The meeting was called to order at 6:32 p.m., by Mayor Pro Tem Milne in Conference Room
No. 1 at Pasco City Hall.
Roll Call:
Present: Mayor Serrano, Mayor Pro Tem David Milne, Alternate Chair; Scott Maloy, Board
Member; Harvey Swoboda, Board Member; Griselda Garcia, Interim Finance Director; and
Debby Barham, City Clerk.
Approval of Minutes:
Mayor Pro Tem Milne moved to approve January 13, 2025, meeting minutes. Seconded by
Mr. Swoboda. Motion carrier unanimously.
Transaction Ledger:
Mayor Serrano arrived at 6:34 PM.
Mr. Swoboda moved to approve the expenditure transactions as presented for a total of
$44,774.57. Seconded by Ms. Barham. Motion carried unanimously.
Financial Report:
The Board discussed the First (1st) Quarter 2025 financial statement presented by Ms. Garcia.
Mayor Serrano asked about the Loss and if there was a statue or Bylaw requirement to move
the fund into another investment.
Ms. Garcia stated that the investments are reviewed routinely and explained the cyclical
nature of investing. She assured everyone that this was a health investment Pool
New Business:
None.
Old Business:
None.
DRAFT
4.14.2025 Fireman Pension Board Meeting Minutes - Approved on _____________
Adjournment:
There being no other business, the meeting was adjourned at 6:38 p.m.
________________________________
Debra Barham, Secretary
Number Date
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
FUND 610 - PENSION
54691 4/1/2025 4/3/2025
Payroll Check Parks, Randall 1,540.11
54698 5/1/2025 5/15/2025
Payroll Check Parks, Randall 1,540.11
54734 6/1/2025 6/12/2025
Payroll Check Parks, Randall 1,540.11
$ 4,620.33
EFT
30205998 4/1/2025 4/1/2025
Payroll EFT Ellingson, Janet 1,193.16
30205999 4/1/2025 4/1/2025
Payroll EFT Maloy, Walter 2,575.34
30206000 4/1/2025 4/1/2025
Payroll EFT Swoboda, Harvey 2,178.03
30207346 5/1/2025 5/1/2025
Payroll EFT Ellingson, Janet 1,193.16
30207347 5/1/2025 5/1/2025
Payroll EFT Maloy, Walter 2,575.34
30207348 5/1/2025 5/1/2025
Payroll EFT Swoboda, Harvey 2,178.03
30209376 6/1/2025 6/3/2025
Payroll EFT Ellingson, Janet 1,193.16
30209377 6/1/2025 6/3/2025
Payroll EFT Maloy, Walter 2,575.34
30209378 6/1/2025 6/3/2025
Payroll EFT Swoboda, Harvey 2,178.03
17,839.59$
Journal Entry
2025-00002447 4/1/2025 I/F Admin Services 700.50
2025-00002447 5/1/2025 I/F Admin Services 700.50
2025-00002447 6/1/2025 I/F Admin Services 700.50
2,101.50$
All Types Totals Fund 610 - Pension $ 24,561.42
FUND 619 - OPEB (Medical)
Journal Entry
2025-00002104 4/1/2025 Old Fire Pension Health Ins Prem City of Pasco 5,836.00
2025-00002104 5/1/2025 Old Fire Pension Health Ins Prem City of Pasco 5,836.00
2025-00002104 6/1/2025 Old Fire Pension Health Ins Prem
City of Pasco 5,836.00
2025-00002447 4/1/2025 I/F Admin Services 75.33
2025-00002447 5/1/2025 I/F Admin Services 75.33
2025-00002447 6/1/2025 I/F Admin Services 75.33
17,733.99$
$ 17,733.99
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 4/1/2025 - To Payment Date: 6/30/2025
Check
All Types Totals: Fund 619 - OPEB (Medical)
Page 1 of 1
CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 2nd Quarter 2025
January 1 to June 30, 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 67,037 67,037 75,774 75,774 995,137 995,137 855,918 855,918
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA* 5,084,257 5,084,257 3,732,144 3,732,144
AMERICAN FUNDS - WASH. MUT. INVESTORS* 5,825,551 5,825,551 4,582,749 4,582,749
FEDERAL SECURITIES (4.875% - 5.250%)
SBA Dev. PARTICIPATION CERTIFICATES 1,254 1,254 2,261 2,261
INVESTMENT IN LID 146 1,386 1,386 1,511 1,511
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 5,892,588 5,892,588 4,339,209 4,658,523 6,082,034 6,082,034 4,591,834 4,591,834
FUND EQUITY
RESERVED FUND EQUITY 5,892,588 4,339,209 6,082,034 4,591,834
TOTAL LIABILITIES AND FUND EQUITY 5,892,588 4,339,209 6,082,034 4,591,834
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/May) 157,105 138,235
INTEREST INCOME-AMERICAN FUNDS 35,815 32,848 24,799 22,956
INVESTMENT INTEREST INCOME 447,411 1,734 483,157 16,231
TOTAL REVENUES 483,226 34,582 665,061 177,422
EXPENDITURES
PENSIONS 44,130 42,866
MISCELLANEOUS PROF SERVICES 1,750 3,700 1,750 3,093
ADMINISTRATIVE SERVICES 452 209 4,203 2,657
MEDICAL INSURANCE - INTERFUND 35,016 43,770 - -
1RETIREE MEDICAL SERVICES 2,096 - - -
TOTAL EXPENDITURES 39,314 47,679 50,084 48,616
REVENUES OVER/(UNDER) EXPENDITURES 443,911 (13,097) 614,978 128,806
*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.
2025 2024 2025 2024
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
30-Jun 30-Jun 30-Jun 30-Jun
30-Jun 30-Jun 30-Jun 30-Jun
2025 2024 2025 2024
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
UNADJUSTED FINAL UNADJUSTED FINAL