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HomeMy WebLinkAbout2020.07.27 Fireman Pension Board Agenda PacketFIREMAN PENSION BOARD Remote Meeting Agenda ____________________________________________________________________ July 27, 2020 6:00 p.m. GoToMeeting 1.Call to order and Roll call: Present:  Alvie Covington  Harvey Swoboda  Scott Maloy-Alternate  Debby Barham  Richa Sigdel  Darcy Buckley  Mayor Saul Martinez  Mayor Pro Tem Blanche Barajas - Alternate 2.Minutes: Approve June 8, 2020 Meeting Minutes. Motion was made by ___________ and seconded by ______________ to approve the minutes. 3.Bills: Approve 2020 Second Quarter Transaction Ledger. Motion was made by ______________ and seconded by __________ to approve the expenditure transactions as presen ted. 4.Financial Statement: Presentation by staff. 5.New Business: 6.Old Business: 7.Adjourn: Next Regular Meeting: October 12, 2020 June 8, 2020 Fireman Pension Board Meeting Minutes - Approved on _____________ City of Pasco FIREFIGHTERS’ PENSION BOARD JUNE 8, 2020 REMOTE MEETING MINUTES Call To Order: Due to the on-going COIVD-19 pandemic, Mayor Saul Martinez called the Firefighters’ Pension Board meeting to order at 6:00 p.m., via GoToMeeting. 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. Covington moved and Mr. Swoboda seconded a motion to approve February 10, 2020 meeting minutes. Motion carried unanimously. Transaction Ledger: Ms. Sigdel presented a copy of the 2020 First (1st) Quarter Transaction Ledger. Following a brief discussion, Mr. Swoboda moved and Mr. Covington seconded a motion to approve the expenditure transactions as presented. Motion carried unanimously. Financial Report: Ms. Sigdel presented the 2020 First (1st) Quarter financial statement stating that it is stable. There was little discussion on the financial report. New Business: 1. Recent COLA and Retro Pay Calculations - Presentation by Colleen Chapin, Human Resources Director Ms. Chapin provided a report on the COLA and retro pay calculations. The board members and Ms. Chapin briefly discussed the report. Old Business: None. Adjournment: There being no other business, the meeting was adjourned at 6:13 p.m. ________________________________ Debra Barham, Secretary Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount FUND 610 - PENSION Journal Entry 2020-1751 4/1/2020 4/1/2020 Administrative Expense Chargeback City of Pasco 143.58 2020-1751 5/1/2020 5/1/2020 Administrative Expense Chargeback City of Pasco 143.58 2020-1751 6/1/2020 6/1/2020 Administrative Expense Chargeback City of Pasco 143.58 Type JE Totals: $430.74 53281 4/30/2020 4/30/2020 Payroll Check Parks, Randall 1,216.59 53282 4/30/2020 4/30/2020 Payroll Check Swoboda, Harvey 1,445.37 53316 5/31/2020 5/31/2020 Payroll Check Parks, Randall 1,216.59 53317 5/31/2020 5/31/2020 Payroll Check Swoboda, Harvey 1,445.37 53339 6/30/2020 6/30/2020 Payroll Check Parks, Randall 1,216.59 53340 6/30/2020 6/30/2020 Payroll Check Swoboda, Harvey 1,445.37 $7,985.88 EFT 30146564 4/30/2020 4/30/2020 Payroll EFT Bailie, Beverly 290.21 30146565 4/30/2020 4/30/2020 Payroll EFT Covington, Alvie 779.53 30146566 4/30/2020 4/30/2020 Payroll EFT Ellingson, Janet 845.03 30146567 4/30/2020 4/30/2020 Payroll EFT Maloy, Walter 1,941.38 30146568 4/30/2020 4/30/2020 Payroll EFT Nelson, Opal 1,754.35 30146569 4/30/2020 4/30/2020 Payroll EFT Rickenback, Barbara 2,876.48 30147566 5/31/2020 5/31/2020 Payroll EFT Bailie, Beverly 290.21 30147567 5/31/2020 5/31/2020 Payroll EFT Covington, Alvie 779.53 30148575 5/31/2020 5/31/2020 Payroll EFT Ellingson, Janet 845.03 30147569 5/31/2020 5/31/2020 Payroll EFT Maloy, Walter 1,941.38 30147570 5/31/2020 5/31/2020 Payroll EFT Nelson, Opal 1,754.35 30147571 5/31/2020 5/31/2020 Payroll EFT Rickenback, Barbara 2,876.48 30148573 6/30/2020 6/30/2020 Payroll EFT Bailie, Beverly 290.21 30148574 6/30/2020 6/30/2020 Payroll EFT Covington, Alvie 779.53 30148575 6/30/2020 6/30/2020 Payroll EFT Ellingson, Janet 845.03 30148576 6/30/2020 6/30/2020 Payroll EFT Maloy, Walter 1,941.38 30148577 6/30/2020 6/30/2020 Payroll EFT Nelson, Opal 1,754.35 30148578 6/30/2020 6/30/2020 Payroll EFT Rickenback, Barbara 2,876.48 2 - Payroll Totals 26 Transactions $25,170.73 All Types Totals Fund 610 - Pension $33,587.35 CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 4/01/2020 - To Payment Date: 6/30/2020 2 - Payroll Check Page 1 of 2 Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 4/01/2020 - To Payment Date: 6/30/2020 FUND 619 - OPEB (Medical) 2020-1372 4/1/2020 4/1/2020 Old Fire Pension Medical Premium City of Pasco 7,295.00 2020-1372 5/1/2020 5/1/2020 Old Fire Pension Medical Premium City of Pasco 7,295.00 2020-1372 6/1/2020 6/1/2020 Old Fire Pension Medical Premium City of Pasco 7,295.00 Insurance Premium Totals 21,885.00$ 2020-1751 4/1/2020 4/1/2020 Administrative Expense Chargeback City of Pasco 104.17 2020-1751 5/1/2020 5/1/2020 Administrative Expense Chargeback City of Pasco 104.17 2020-1751 6/1/2020 6/1/2020 Administrative Expense Chargeback City of Pasco 104.17 Administrative Expense Totals $ 312.51 $ 22,197.51 All Types Totals: Fund 619 - OPEB (Medical) Page 2 of 2 CITY OF PASCO FIRE PENSION FUND FINANCIAL STATEMENTS -2nd Quarter 2020 APRIL 1, 2020 THROUGH JUNE 30, 2020 BALANCE SHEET BOOK MARKET BOOK MARKET BOOK MARKET BOOK MARKET VALUE VALUE VALUE VALUE VALUE VALUE VALUE VALUE ASSETS CASH - INVESTED WITH CITY PORTFOLIO 13,711 13,711 44,053 44,053 503,285 503,285 489,950 489,950 - - INVESTMENTS AMERICAN FUNDS - INVEST CO. OF AMERICA*2,546,234 2,546,234 2,084,823 2,353,143 AMERICAN FUNDS - WASH. MUT. INVESTORS*3,438,460 3,438,460 2,784,174 3,175,820 SBA Dev. PARTICIPATION CERTIFICATES 11,810 11,810 17,308 17,588 INVESTMENT IN LID 146 10,869 10,869 18,330 27,346 TOTAL ASSETS 3,452,171 3,452,171 2,828,227 3,219,874 3,072,198 3,072,198 2,610,411 2,888,027 FUND EQUITY RESERVED FUND EQUITY 3,452,171 2,828,227 3,072,198 2,610,411 TOTAL LIABILITIES AND FUND EQUITY 3,452,171 2,828,227 3,072,198 2,610,411 STATEMENT OF REVENUES OVER EXPENDITURES EXCLUDING UNREALIZED GAINS & LOSSES REVENUES FIRE INSURANCE PREMIUM TAX (STATE-Annual/May)89,252 81,458 INTEREST INCOME-AMERICAN FUNDS 29,279 28,040 19,948 19,059 INVESTMENT INTEREST INCOME 145 11 2,391 3,935 TOTAL REVENUES 29,424 28,051 111,590 104,452 EXPENDITURES PENSIONS 65,177 67,497 MISCELLANEOUS PROF SERVICES 3,500 - 375 - ADMINISTRATIVE SERVICES 625 995 861 845 MEDICAL INSURANCE - INTERFUND 43,770 43,770 1RETIREE MEDICAL SERVICES - 238 - - TOTAL EXPENDITURES 47,895 45,003 66,414 68,341 REVENUES OVER/(UNDER) EXPENDITURES (18,471) (16,952) 45,177 36,111 *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. OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 UNADJUSTED FINAL UNADJUSTED FINAL 30-Jun 30-Jun 30-Jun 30-Jun 2020 2019 2020 2019 OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 30-Jun 30-Jun 30-Jun 30-Jun 2020 2019 2020 2019