HomeMy WebLinkAbout2025.10.14 Fireman Pension Board Agenda Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
October 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 David Milne Mayor Pro Tem Charles Grimm - Alternate
Griselda Garcia, Interim Finance Director Debby Barham, City Clerk
2. Minutes:
Approve Fireman Pension Board Meeting Minutes.
Motion: I move to approve the July 14, 2025, Fireman Pension Board Meeting
Minutes.
3. Bills:
Approve 2025 Third (3rd) Quarter Transaction Ledger.
Motion: I move to approve the 2025 Third (3rd) Quarter expenditure transactions as
presented for a total of $40,591.17.
4. Financial Statement:
Review the 2025 Third (3rd) Financial Statements - presentation by Interim Finance Director
Garcia.
5. New Business:
Proposed 2026 Meeting Schedule
6. Old Business:
7. Adjourn:
Next Regular Meeting: Monday, January 12, 2026
7.14.2025 Fireman Pension Board Meeting Minutes - Approved on _____________
City of Pasco
FIREMAN PENSION BOARD
JULY 14, 2025
MINUTES
Call To Order:
The meeting was called to order at 6:30 p.m., by Mayor Serrano 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; Griselda Garcia, Interim Finance Director; and Debby Barham, City Clerk.
Approval of Minutes:
Mr. Serrano moved to approve April 14, 2025, meeting minutes. Seconded by Mr. Maloy.
Motion carrier unanimously.
Transaction Ledger:
Ms. Barham moved to approve the 2025 Second (2nd) Quarter expenditure transactions as
presented for a total of $42,295.41. Seconded by Mr. Maloy. Motion carried unanimously.
Financial Report:
The Board discussed the Second (2nd) Quarter 2025 financial statement presented by Ms.
Garcia.
New Business:
None.
Old Business:
None.
Adjournment:
There being no other business, the meeting was adjourned at 6:34 p.m.
________________________________
Debra Barham, Secretary
DRAFT
Number Date Reconciled/
Voided Date Source Payee Name Transaction
Amount
FUND 610 - PENSION
54989 7/1/2025 7/15/2025 Payroll Check Parks, Randall 1,373.49
55031 8/1/2025 8/4/2025 Payroll Check Parks, Randall 1,373.49
55069 9/1/2025 9/2/2025 Payroll Check Parks, Randall 1,373.49
Check Total $ 4,120.47
EFT
30228011 7/1/2025 7/1/2025 Payroll EFT Ellingson, Janet 1,236.23
30228012 7/1/2025 7/1/2025 Payroll EFT Maloy, Walter 2,368.34
30228013 7/1/2025 7/1/2025 Payroll EFT Swoboda, Harvey 1,940.50
30229387 8/1/2025 8/1/2025 Payroll EFT Ellingson, Janet 1,236.23
30229388 8/1/2025 8/1/2025 Payroll EFT Maloy, Walter 2,368.34
30229389 8/1/2025 8/1/2025 Payroll EFT Swoboda, Harvey 1,940.50
30230775 9/1/2025 9/2/2025 Payroll EFT Ellingson, Janet 1,236.23
30230776 9/1/2025 9/2/2025 Payroll EFT Maloy, Walter 2,368.34
30230777 9/1/2025 9/2/2025 Payroll EFT Swoboda, Harvey 1,940.50
EFT Total 16,635.21$
Journal Entry
2025-00002447 7/1/2024 I/F Admin Services 700.50
2025-00002447 8/1/2024 I/F Admin Services 700.50
2025-00002447 9/1/2024 I/F Admin Services 700.50
2,101.50$
All Types Totals Fund 610 - Pension $ 22,857.18
FUND 619 - OPEB (Medical)
Journal Entry
2025-00002104 7/1/2025 Old Fire Pension Health Ins Prem City of Pasco 5,836.00
2025-00002104 8/1/2025 Old Fire Pension Health Ins Prem City of Pasco 5,836.00
2025-00002104 9/1/2025 Old Fire Pension Health Ins Prem City of Pasco 5,836.00
2025-00002447 7/1/2025 I/F Admin Services 75.33
2025-00002447 8/1/2025 I/F Admin Services 75.33
2025-00002447 9/1/2025 I/F Admin Services 75.33
17,733.99$
$ 17,733.99 All Types Totals: Fund 619 - OPEB (Medical)
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 7/1/2025 - To Payment Date: 9/30/2025
Check
Page 1 of 1
CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 3rd Quarter 2025
January 1 to September 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 68,575 68,575 70,634 70,634 994,458 994,458 846,649 846,649
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA*
AMERICAN FUNDS - WASH. MUT. INVESTORS*5,825,551 5,825,551 5,398,023 5,398,023 5,084,257 5,084,257 4,524,379 4,524,379
FEDERAL SECURITIES (4.875% - 5.250%)1,254 1,254 2,261 2,261
SBA Dev. PARTICIPATION CERTIFICATES
INVESTMENT IN LID 146 1,386 1,386 1,511 1,511
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 5,894,126 5,894,126 5,468,657 5,468,657 6,081,354 6,081,354 5,374,800 5,374,800
LIABILITIES
ACCOUNTS PAYABLE - -
FUND EQUITY
RESERVED FUND EQUITY 5,894,126 5,468,657 6,081,354 5,374,800
TOTAL LIABILITIES AND FUND EQUITY 5,894,126 5,468,657 6,081,354 5,374,800
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 54,501 50,034 37,316 34,480
INVESTMENT INTEREST INCOME 447,996 2,365 492,818 24,778
UNREALIZED GAIN/LOSS - 815,274 - 792,339
TOTAL REVENUES 502,497 867,673 687,239 989,833
EXPENDITURES
PENSIONS 64,886 62,956
MISCELLANEOUS PROF SERVICES 1,750 3,700 1,750 5,750
ADMINISTRATIVE SERVICES 678 998 6,305 6,593
MEDICAL INSURANCE - INTERFUND 52,524 65,655 - -
1RETIREE MEDICAL SERVICES 2,096 - - -
TOTAL EXPENDITURES 57,048 70,353 72,940 75,300
REVENUES OVER/(UNDER) EXPENDITURES 445,448 797,320 614,299 914,533
*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-Sep 30-Sep 30-Sep 30-Sep
30-Sep 30-Sep 30-Sep 30-Sep
2025 2024 2025 2024
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
UNADJUSTED FINAL UNADJUSTED FINAL
City of Pasco | 525 N 3rd Avenue, Pasco, WA 99301 | 509-544-3096 | www.Pasco-WA.gov
Fireman’s Pension Board
2026
Quarterly Meeting Schedule
(Date subject to change due to availability of participants)
Location: Pasco City Hall
Pasco Conference Room
Monday, January 12, 2026 6:30pm
Monday, April 13, 2026 6:30pm
Monday, July 13, 2026 6:30pm
Tuesday, October 13, 2025 6:30pm (Monday is a Federal
Holiday – Columbus Day)