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HomeMy WebLinkAbout2019.10.14 FPB PacketFIREMAN PENSION BOARD Meeting Agenda ____________________________________________________________________ October 14, 2019 6:00 p.m. Pasco City Hall – Conference Room No. 1 1.Call to order and Roll call: Present:  Alvie Covington  Debby Barham  Richa Sigdel  Harvey Swoboda  Scott Maloy-Alternate  Mayor Matt Watkins  Mayor Pro Tem Craig Maloney - Alternate  Griselda Garcia 2.Minutes: Approve July 8, 2019 Meeting Minutes. Motion was made by ____________________and seconded by _______________ to approve the minutes. 3.Bills: Approve Third Quarter Transaction Ledger. Motion was made by ____________________and seconded by _______________ to approve the expenditure transactions as presented. 4.Financial Statement: Presentation by staff 5.New Business: Approve the 2020 Meeting Schedule. Motion was made by ____________________and seconded by _______________ to approve the 2020 Fireman Pension Board Meeting schedule as presented. 6.Old Business: 7.Adjourn: Next Regular Meeting: January 13, 2020 FIREMAN PENSION BOARD Minutes – July 8, 2019 FIREMAN PENSION BOARD JULY 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, Griselda Garcia, Lead Accountant, and Angela Pashon, Interim City Clerk. Alternates Scott Maloy (arrived at 6:06 p.m.) and Craig Maloney. Approval of Minutes: Mr. Swoboda moved and Mr. Covington seconded to approve April 8, 2019 meeting minutes. Motion carried unanimously. Transaction Ledger: Ms. Garcia presented a copy of the 2019 2nd 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 2019 2nd Quarter financial statement presented by Ms. Garcia. New Business: Ms. Chapin presented the recent COLA and retro pay calculations. Old Business: None. Adjournment: There being no other business, the meeting was adjourned at 6:11 p.m. ________________________________ Angela Pashon, Secretary DRAFT Number Date Reconciled/ Voided Date Payee Name Transaction Amount FUND 610 - PENSION Journal Entry 2019-0056 7/1/2019 7/1/2019 City of Pasco 140.75 2019-0056 8/1/2019 8/1/2019 City of Pasco 140.75 2019-0056 9/1/2019 9/1/2019 City of Pasco 140.75 Type JE Totals: $422.25 52678 7/1/2019 7/5/2019 Bailie, Beverly 290.21 52679 7/1/2019 7/9/2019 Parks, Randall 1,117.29 52680 7/1/2019 7/9/2019 Swoboda, Harvey 1,467.32 52800 8/1/2019 8/2/2019 Bailie, Beverly 290.21 52801 8/1/2019 8/6/2019 Parks, Randall 1,117.29 52802 8/1/2019 8/6/2019 Swoboda, Harvey 1,467.32 52946 9/1/2019 9/10/2019 Bailie, Beverly 290.21 52947 9/1/2019 9/9/2019 Parks, Randall 1,117.29 52948 9/1/2019 9/9/2019 Swoboda, Harvey 1,467.32 $8,624.46 EFT 30135990 7/1/2019 7/1/2019 Covington, Alvie 764.02 30135991 7/1/2019 7/1/2019 Ellingson, Janet 845.03 30135992 7/1/2019 7/1/2019 Maloy, Walter 1,810.48 30135993 7/1/2019 7/1/2019 Nelson, Opal 1,619.75 30135994 7/1/2019 7/1/2019 Rickenback, Barbara 2,876.48 30137100 8/1/2019 8/1/2019 Covington, Alvie 764.02 30137101 8/1/2019 8/1/2019 Ellingson, Janet 845.03 30137102 8/1/2019 8/1/2019 Maloy, Walter 1,810.48 30137103 8/1/2019 8/1/2019 Nelson, Opal 1,619.75 30137104 8/1/2019 8/1/2019 Rickenback, Barbara 2,876.48 30138794 9/1/2019 9/1/2019 Covington, Alvie 764.02 30138795 9/1/2019 9/1/2019 Ellingson, Janet 845.03 30138796 9/1/2019 9/1/2019 Maloy, Walter 1,810.48 30138797 9/1/2019 9/1/2019 Nelson, Opal 1,619.75 30138798 9/1/2019 9/1/2019 Rickenback, Barbara 2,876.48 2 - Payroll Totals $23,747.28 All Types Totals Fund 610 - Pension $32,793.99 CITY OF PASCO - PRODUCTION Payment Register From Payment Date: 7/1/2019 - To Payment Date: 9/30/2019 2 - Payroll Check Page 1 of 2 Number Date Reconciled/ Voided Date Payee Name Transaction Amount CITY OF PASCO - PRODUCTION Payment Register From Payment Date: 7/1/2019 - To Payment Date: 9/30/2019 FUND 619 - OPEB (Medical) 2019-834 7/1/2019 7/1/2019 City of Pasco 7,295.00 2019-834 8/1/2019 8/1/2019 City of Pasco 7,295.00 2019-834 9/1/2019 9/1/2019 City of Pasco 7,295.00 Insurance Premium Totals 21,885.00$ 2019-056 7/1/2019 7/1/2019 City of Pasco 165.83 2019-056 8/1/2019 8/1/2019 City of Pasco 165.83 2019-056 9/1/2019 9/1/2019 City of Pasco 165.83 Administrative Expense Totals $ 497.49 $ 22,382.49 All Types Totals: Fund 619 - OPEB (Medical) Page 2 of 2 CITY OF PASCO FIRE PENSION FUND FINANCIAL STATEMENTS -3rd Quarter 2019 JULY 1, 2019 through SEPTEMBER 30, 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 35,766 35,766 6,034 6,034 463,999 452,387 452,768 452,768 INVESTMENTS AMERICAN FUNDS - INVEST CO. OF AMERICA*2,084,823 2,342,040 2,271,878 2,401,139 AMERICAN FUNDS - WASH. MUT. INVESTORS*2,784,174 3,213,232 2,986,331 3,155,608 SBA Dev. PARTICIPATION CERTIFICATES 17,308 17,610 22,366 22,366 INVESTMENT IN LID 146 11,169 11,169 18,330 18,330 TOTAL ASSETS 2,819,940 3,248,998 2,992,365 3,161,642 2,577,298 2,823,207 2,765,342 2,894,221 FUND EQUITY RESERVED FUND EQUITY 2,819,940 2,992,365 2,577,298 2,765,342 TOTAL LIABILITIES AND FUND EQUITY 2,819,940 2,992,365 2,577,298 2,765,342 STATEMENT OF REVENUES OVER EXPENDITURES SEPTEMBER 30 SEPTEMBER 30 EXCLUDING UNREALIZED GAINS & LOSSES 2019 2018 2019 2018 REVENUES FIRE INSURANCE PREMIUM TAX (STATE-Annual/May)81,458 73,414 INTEREST INCOME-AMERICAN FUNDS 42,069 36,475 28,620 25,994 INVESTMENT INTEREST INCOME 77 479 4,847 4,395 TOTAL REVENUES 42,146 36,954 114,924 103,803 EXPENDITURES PENSIONS 99,410 96,667 MISCELLANEOUS PROF SERVICES - 187 - 3,500 ADMINISTRATIVE SERVICES 1,492 2,898 1,267 1,067 MEDICAL INSURANCE - INTERFUND 65,655 72,950 - - 1RETIREE MEDICAL SERVICES 238 50,003 - - TOTAL EXPENDITURES 67,385 76,035 100,676 101,234 REVENUES OVER EXPENDITURES (25,239) (39,081) 14,248 2,569 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 SEPTEMBER 30 SEPTEMBER 30 SEPTEMBER 30 SEPTEMBER 30 SEPTEMBER 30 SEPTEMBER 30 2019 2018 2019 2018 OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 UNADJUSTED FINAL UNADJUSTED FINAL Fireman Pension Board 2020 Quarterly Meeting Schedule 2ND Monday (Meetings date subject to change due to availability of participants) Location: Pasco City Hall Conference Room No. 1 January 13, 2020 6:00 pm April 13, 2020 6:00 pm MID-YEAR [COLA & Retro Pay Calculation Presentation by HR] July 13, 2020 6:00 pm October 12, 2020 6:00 pm