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Home My WebLink About2018.04.09 FPB Agenda FIREMAN PENSION BOARD Meeting Agenda ____________________________________________________________________ April 9, 2018 6:00 p.m. Pasco City Hall – Conference Room No. 1 1. Call to order and Roll call: Present:  Alvie Covington  Harvey Swoboda  Richa Sigdel – Finance Dir.  Daniela Erickson  Mayor Matt Watkins  Scott Maloy - Alternate  Craig Maloney – City Council Alternate  Lynn Kauer – Lead Accountant, Finance Dept. 2. Minutes: Approve January 8, 2018 Meeting Minutes. Motion was made by ____________________and seconded by _______________ to approve the minutes. Motion passed unanimously. 3. Bills: Approve First Quarter Transaction Ledger. Motion was made by ____________________and seconded by _______________ to approve the expenditure transactions as presented. Motion passed unanimously. 4. Financial Statement: Presentation by staff. 5. New Business: 6. Old Business: 7. Adjourn: Next Regular Meeting: July 9, 2018. *A Special Meeting will be scheduled for June 25, 2018 for the annual COLA and Retro Pay Calculation by HR. FIREMAN PENSION BOARD Minutes – January 8, 2018 FIREMAN PENSION BOARD January 8, 2018 MINUTES Call To Order: The meeting was called to order at 6:00 p.m., by Daniela Erickson, Secretary, in Conference Room No. 1 at Pasco City Hall. Roll Call: Present: Saul Martinez (arrived at 6:05 p.m.), Alvie Covington, Harvey Swoboda, Lynn Kauer, Lead Accountant – Finance Department, and Daniela Erickson, City Clerk. Approval of Minutes: Mr. Covington moved and Mr. Swoboda seconded to approve the October 9, 2017 Meeting minutes as presented. Motion carried unanimously. Transaction Ledger: Ms. Kauer presented a copy of the 2017 4th Quarter Transaction Ledgers. Following discussion, Mr. Swoboda moved and Mr. Covington seconded to approve the expenditure transactions as presented. Motion carried unanimously. Financial Report: The Board discussed the 2017 4th Quarter financial statements presented by Ms. Kauer. New Business: Election ballot results were announced and Harvey Swoboda was re-elected to a two year term ending December 31, 2019. Old Business: The June 18, 2018 additional meeting (will be advertised as a Special Meeting) regarding COLA and Retro Pay calculations was rescheduled to June 25, 2018. Adjournment: There being no other business, the meeting was adjourned at 6:30 p.m. ________________________________ Daniela Erickson, Secretary DRAFT FOR PERIOD ENDING MARCH 31, 2018 CITY OF PASCO 1ST QUARTER FINANCIAL STATEMENTS OLD FIRE PENSION AND OPEB FUNDS CITY OF PASCO FIRE PENSION FUND FINANCIAL STATEMENTS -1st Quarter 208 JANUARY 1, 2018 THROUGH MARCH 31, 2018 BALANCE SHEET BOOK MARKET BOOK MARKET BOOK MARKET BOOK MARKET VALUE VALUE VALUE VALUE VALUE VALUE VALUE VALUE ASSETS CASH - INVESTED WITH CITY PORTFOLIO 27,497 27,497 125,375 125,375 418,614 418,614 415,960 415,960 - INVESTMENTS AMERICAN FUNDS - INVEST CO. OF AMERICA*2,271,878 2,234,192 1,929,796 2,031,533 AMERICAN FUNDS - WASH. MUT. INVESTORS*2,986,331 2,932,034 2,532,615 2,630,333 SBA Dev. PARTICIPATION CERTIFICATES 26,144 24,889 36,469 36,469 INVESTMENT IN LID 146 27,346 27,346 33,954 33,954 TOTAL ASSETS 3,013,828 2,959,531 2,657,990 2,755,708 2,743,981 2,705,040 2,416,179 2,517,916 FUND EQUITY RESERVED FUND EQUITY 3,013,828 2,657,990 2,743,981 2,416,179 TOTAL LIABILITIES AND FUND EQUITY 3,013,828 2,657,990 2,743,981 2,416,179 STATEMENT OF REVENUES OVER EXPENDITURES EXCLUDING UNREALIZED GAINS & LOSSES REVENUES FIRE INSURANCE PREMIUM TAX (STATE-Annual/May)- - INTEREST INCOME-AMERICAN FUNDS 13,084 - 8,437 - INVESTMENT INTEREST INCOME 85 12,060 1,632 7,990 TOTAL REVENUES 13,169 12,060 10,069 7,990 EXPENDITURES PENSIONS 29,379 31,926 MISCELLANEOUS PROF SERVICES - - - - ADMINISTRATIVE SERVICES 542 966 356 1,029 MEDICAL INSURANCE - INTERFUND 21,885 26,262 - 1RETIREE MEDICAL SERVICES 288 - - - TOTAL EXPENDITURES 22,714 27,228 29,735 32,955 REVENUES OVER/(UNDER) EXPENDITURES (9,546) (15,168) (19,666) (24,965) *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. 2018 2017 2018 2017 OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 31-Mar 2018 2017 2018 2017 OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 UNADJUSTED FINAL UNADJUSTED FINAL Page 2 of 3 Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount FUND 610 - PENSION Journal Entry 2018-0279 1/31/2018 1/31/2018 Administrative Expense Chargeback City of Pasco 118.58 2018-0279 2/28/2018 2/28/2018 Administrative Expense Chargeback City of Pasco 118.58 2018-0374 3/31/2018 3/31/2018 Administrative Expense Chargeback City of Pasco 118.58 Type JE Totals:$355.74 51409 1/31/2018 2/7/2018 Payroll Check Bailie, Beverly 285.17 51410 1/31/2018 2/2/2018 Payroll Check Parks, Randall 1,096.50 51411 1/31/2018 2/5/2018 Payroll Check Swoboda, Harvey 1,336.72 51468 2/28/2018 Payroll Check Bailie, Beverly 285.17 51469 2/28/2018 Payroll Check Parks, Randall 1,096.50 51470 2/28/2018 Payroll Check Swoboda, Harvey 1,336.72 51554 3/31/2018 Payroll Check Bailie, Beverly 285.17 51555 3/31/2018 Payroll Check Parks, Randall 1,096.50 51556 3/31/2018 Payroll Check Swoboda, Harvey 1,336.72 $8,155.17 EFT 30116816 1/31/2018 1/31/2018 Payroll EFT Covington, Alvie 767.13 30116817 1/31/2018 1/31/2018 Payroll EFT Ellingson, Janet 806.13 30116818 1/31/2018 1/31/2018 Payroll EFT Maloy, Walter 1,491.12 30116819 1/31/2018 1/31/2018 Payroll EFT Nelson, Opal 1,306.74 30116820 1/31/2018 1/31/2018 Payroll EFT Rickenback, Barbara 2,703.51 30117788 2/28/2018 2/28/2018 Payroll EFT Covington, Alvie 767.13 30117789 2/28/2018 2/28/2018 Payroll EFT Ellingson, Janet 806.13 30117790 2/28/2018 2/28/2018 Payroll EFT Maloy, Walter 1,491.12 30117791 2/28/2018 2/28/2018 Payroll EFT Nelson, Opal 1,306.74 30117792 2/28/2018 2/28/2018 Payroll EFT Rickenback, Barbara 2,703.51 30119288 3/31/2018 3/31/2018 Payroll EFT Covington, Alvie 767.13 30119289 3/31/2018 3/31/2018 Payroll EFT Ellingson, Janet 806.13 30119290 3/31/2018 3/31/2018 Payroll EFT Maloy, Walter 1,491.12 30119291 3/31/2018 3/31/2018 Payroll EFT Nelson, Opal 1,306.74 30119292 3/31/2018 3/31/2018 Payroll EFT Rickenback, Barbara 2,703.51 2 - Payroll Totals 26 Transactions $21,223.89 All Types Totals Fund 610 - Pension $29,734.80 CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 1/01/2018 - To Payment Date: 3/31/2018 2 - Payroll Check Page 3 of 3 Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 1/01/2018 - To Payment Date: 3/31/2018 FUND 619 - OPEB (Medical) 2018-0281 1/1/2018 1/1/2018 Old Fire Pension Medical Premium City of Pasco 7,295.00 2018-0281 2/1/2018 2/1/2018 Old Fire Pension Medical Premium City of Pasco 7,295.00 2018-0512 3/1/2018 3/1/2018 Old Fire Pension Medical Premium City of Pasco 7,295.00 Insurance Premium Totals 21,885.00$ 2018-0291 1/31/2018 1/31/2018 Medical Expenses-Not covered City of Pasco 287.63$ 287.63$ 2018-0279 1/31/2018 1/31/2018 Administrative Expense Chargeback City of Pasco 180.58 2018-0279 2/28/2018 2/28/2018 Administrative Expense Chargeback City of Pasco 180.58 2018-0374 3/31/2018 3/31/2018 Administrative Expense Chargeback City of Pasco 180.58 Administrative Expense Totals $ 541.74 $ 22,714.37 All Types Totals: Fund 619 - OPEB (Medical)