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