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HomeMy WebLinkAbout2020.02.10 Fireman Pension Board MinutesCity of Pasco FIREMAN PENSION BOARD FEBRUARY 10, 2020 MINUTES Call To Order: The meeting was called to order at 6:07 p.m., by Mayor Saul Martinez in Conference Room No. 1 at Pasco City Hall. Roll Call: Present: Saul Martinez, Mayor; Alvie Covington, Board Member; Harvey Swoboda, Board Member; Scott Maloy, Board Member Alternate; Richa Sigdel, Finance Director; and Debby Barham, City Clerk. Approval of Minutes: Mr. Swoboda moved and Mr. Covington seconded a motion to approve October 14, 2019 meeting minutes. Motion carried unanimously. Transaction Ledger: Ms. Sigdel presented a copy of the 2019 Fourth (4th) Quarter Transaction Ledger. Following a brief discussion, Mr. Swoboda moved and Ms. Barham seconded a motion to approve the expenditure transactions as presented. Motion carried unanimously. Financial Report: Ms. Sigdel presented the 2019 Fourth (4th) Quarter financial statement and explained that the books for 2019 have not been closed as of yet and the final 2019 Financial Report will be presented at the next Board meeting. The Board discussed the financial report the upcoming actuarial study. Ms. Sigdel stated that the Washington State Auditor's Office is recommending that the study be conducted annually (previously years it was completed on a biennial basis.) Ms. Sigdel will bring the model of how the study will be conducted to the next Board meeting. The Board also asked that the COLA increases for 2020 be brought back to the next meeting for formal approval by the Board. Ms. Barham will contact Colleen Chapin, Human Resources Director to provide the details of the 2020 COLA. New Business: None. Page 1 1 Old Business: None. Adjournment: There being no other business, the meeting was adjourned at 6:33 p.m. Debra Barham, Secretary February 10, 2020 Fireman Pension Board Meeting Minutes - Approved on June 8, 2020 Page 12