HomeMy WebLinkAbout2019.04.08 FPB Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
April 9, 2019
6:00 p.m.
Pasco City Hall – Conference Room No. 1
1. Call to order and Roll call:
Present: Alvie Covington Harvey Swoboda Scott Maloy-Alternate
Angela Pashon Mayor Matt Watkins
Richa Sigdel Councilmember Craig Maloney - Alternate
2. Minutes:
Approve January 14, 2019 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: June 24, 2019 – COLA & Retro Pay Calculation Presentation by HR
FIREMAN PENSION BOARD
Minutes – April 8, 2019
FIREMAN PENSION BOARD
April 8, 2019
MINUTES
Call To Order:
The meeting was called to order at 6:00 p.m., by Mayor Matt Watkins in Conference Room No. 1 at
Pasco City Hall.
Roll Call:
Present: Mayor Matt Watkins, Alvie Covington, Harvey Swoboda, Richa Sigdel, Finance Director, Scott
Maloy, Alternate and Daniela Erickson, City Clerk.
Approval of Minutes:
Mr. Swoboda moved and Mr. Covington seconded to approve the June 25, 2018 Meeting minutes as
presented. Motion carried unanimously.
Transaction Ledger:
Ms. Sigdel presented a copy of the 2018 3rd Quarter Transaction Ledger.
Following discussion, Mr. Covington moved and Mr. Swoboda seconded to approve the expenditure
transactions as presented. Motion carried unanimously.
Financial Report:
The Board discussed the 2018 3rd Quarter financial statement presented by Ms. Sigdel.
New Business:
None.
Old Business:
None.
Adjournment:
There being no other business, the meeting was adjourned at 6:21 p.m.
________________________________
Angela Pashon, Secretary
CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS -1st Quarter 2019
JANUARY 1, 2019 THROUGH MARCH 31, 2019
BALANCE SHEET BOOK MARKET BOOK MARKET BOOK MARKET BOOK MARKET
VALUE VALUE VALUE VALUE VALUE VALUE VALUE VALUE
ASSETS
CASH - INVESTED WITH CITY PORTFOLIO 271 271 27,497 27,497 407,878 418,614 418,614
-
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA*2,084,823 2,312,917 2,271,878 2,234,192
AMERICAN FUNDS - WASH. MUT. INVESTORS*2,844,174 3,124,576 2,986,331 2,932,034
FEDERAL SECURITIES (4.875% - 5.250%)
SBA Dev. PARTICIPATION CERTIFICATES 19,368 19,374 26,144 24,889
INVESTMENT IN LID 146 18,330 18,330 27,346 27,346
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 2,844,445 3,124,847 3,013,828 2,959,531 2,530,398 2,350,622 2,743,981 2,705,040
FUND EQUITY
RESERVED FUND EQUITY 2,844,445 3,013,828 2,530,398 2,743,981
TOTAL LIABILITIES AND FUND EQUITY 2,844,445 3,013,828 2,530,398 2,743,981
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/May)- -
INTEREST INCOME-AMERICAN FUNDS 14,020 13,084 9,530 8,437
INVESTMENT INTEREST INCOME 2 85 1,518 1,632
TOTAL REVENUES 14,022 13,169 11,048 10,069
EXPENDITURES
PENSIONS 33,748 29,379
MISCELLANEOUS PROF SERVICES - - - -
ADMINISTRATIVE SERVICES 497 542 422 356
MEDICAL INSURANCE - INTERFUND 21,885 21,885
1RETIREE MEDICAL SERVICES 238 288 - -
TOTAL EXPENDITURES 22,620 22,714 34,171 29,735
REVENUES OVER/(UNDER) EXPENDITURES (8,599) (9,546) (23,123) (19,666)
*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.
2019 2018 2019 2018
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
31-Mar 31-Mar 31-Mar 31-Mar
31-Mar 31-Mar 31-Mar 31-Mar
2019 2018 2019 2018
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
UNADJUSTED FINAL UNADJUSTED FINAL
Number Date
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
FUND 610 - PENSION
Journal Entry
2019-0056 1/31/2019 1/31/2019 Administrative Expense Chargeback City of Pasco 140.75
2019-0056 2/28/2019 2/28/2019 Administrative Expense Chargeback City of Pasco 140.75
2019-0056 3/31/2019 3/31/2019 Administrative Expense Chargeback City of Pasco 140.75
Type JE Totals: $422.25
52381 1/1/2019 1/3/2019
Payroll Check Bailie, Beverly 301.19
52382 1/1/2019 1/7/2019
Payroll Check Parks, Randall 1,204.52
52383 1/1/2019 1/3/2019
Payroll Check Swoboda, Harvey 1,592.77
52417 2/1/2019 2/5/2019
Payroll Check Bailie, Beverly 301.19
52418 2/1/2019 2/4/2019
Payroll Check Parks, Randall 1,204.52
52419 2/1/2019 2/4/2019
Payroll Check Swoboda, Harvey 1,592.77
52468 3/1/2019
Payroll Check Bailie, Beverly 301.19
52469 3/1/2019 3/5/2019
Payroll Check Parks, Randall 1,204.52
52470 3/1/2019 3/5/2019
Payroll Check Swoboda, Harvey 1,592.77
$9,295.44
EFT
30129281 1/1/2019 1/1/2019
Payroll EFT Covington, Alvie 866.23
30129282 1/1/2019 1/1/2019
Payroll EFT Ellingson, Janet 840.41
30129283 1/1/2019 1/1/2019
Payroll EFT Maloy, Walter 1,913.08
30129284 1/1/2019 1/1/2019
Payroll EFT Nelson, Opal 1,733.13
30129285 1/1/2019 1/1/2019
Payroll EFT Rickenback, Barbara 2,798.13
30130286 2/1/2019 2/1/2019
Payroll EFT Covington, Alvie 866.23
30130287 2/1/2019 2/1/2019
Payroll EFT Ellingson, Janet 840.41
30130288 2/1/2019 2/1/2019
Payroll EFT Maloy, Walter 1,913.08
30130289 2/1/2019 2/1/2019
Payroll EFT Nelson, Opal 1,733.13
30130290 2/1/2019 2/1/2019
Payroll EFT Rickenback, Barbara 2,798.13
30131787 3/1/2019 3/1/2019
Payroll EFT Covington, Alvie 866.23
30131788 3/1/2019 3/1/2019
Payroll EFT Ellingson, Janet 840.41
30131789 3/1/2019 3/1/2019
Payroll EFT Maloy, Walter 1,913.08
30131790 3/1/2019 3/1/2019
Payroll EFT Nelson, Opal 1,733.13
30131791 3/1/2019 3/1/2019
Payroll EFT Rickenback, Barbara 2,798.13
2 - Payroll Totals 26 Transactions $24,452.94
All Types Totals Fund 610 - Pension $34,170.63
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 1/01/2019 - To Payment Date: 3/31/2019
2 - Payroll
Check
Page 1 of 2
Number Date
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 1/01/2019 - To Payment Date: 3/31/2019
FUND 619 - OPEB (Medical)
2019-0834 1/1/2019 1/1/2019 Old Fire Pension Medical Premium City of Pasco 7,295.00
2019-0834 2/1/2019 2/1/2019 Old Fire Pension Medical Premium City of Pasco 7,295.00
2019-0834 3/1/2019 3/1/2019 Old Fire Pension Medical Premium City of Pasco 7,295.00
Insurance Premium Totals 21,885.00$
2019-0149 1/28/2019 1/31/2019 Medical Expenses-Not covered City of Pasco 238.00$
238.00$
2019-0056 1/1/2019 1/1/2019 Administrative Expense Chargeback City of Pasco 165.83
2019-0056 2/1/2019 2/1/2019 Administrative Expense Chargeback City of Pasco 165.83
2019-0056 3/1/2019 3/1/2019 Administrative Expense Chargeback City of Pasco 165.83
Administrative Expense Totals $ 497.49
$ 22,620.49 All Types Totals: Fund 619 - OPEB (Medical)
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