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HomeMy WebLinkAbout2020.10.12 Fireman Pension Board Agenda Packet FIREMAN PENSION BOARD Remote Meeting Agenda ____________________________________________________________________ October 12 2020 6:00 p.m. GoToMeeting 1. Call to order and Roll call: Present:  Alvie Covington  Harvey Swoboda  Scott Maloy- Alternate  Debby Barham  Mayor Saul Martinez  Richa Sigdel  Mayor Pro Tem Blanche Barajas - Alternate  Darcy Buckley  _____________ - Guest 2. Minutes: Approve July 27, 2020 Meeting Minutes. Motion was made by ____________________and seconded by _______________ to approve the minutes. 3. Bills: Approve 2020 Third 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: Proposed Meeting Schedule for 2021 6. Old Business: 7. Adjourn: Next Regular Meeting: January 11, 2021 July 27, 2020 Fireman Pension Board Meeting Minutes - Approved on _____________ City of Pasco FIREFIGHTERS’ PENSION BOARD JULY 27, 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; Blanche Barajas, Mayor Pro Tem (Alternate Member); Harvey Swoboda, Board Member; Scott Maloy, Alternate Board Member; Richa Sigdel, Finance Director; Darcy Buckley, Finance Manager and Debby Barham, City Clerk. Approval of Minutes: Mr. Swoboda moved and Mr. Maloy seconded a motion to approve June 8, 2020 meeting minutes. Motion carried unanimously. Transaction Ledger: Ms. Sigdel presented a copy of the 2020 Second (2nd) 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 2020 Second (2nd) Quarter financial statement stating that it is stable and business as usual with little impact from the COVID -19 crisis. There no discussion on the financial report. New Business: Ms. Barham noted that Mr. Covington was unable to attend the meeting due to a medical issue. Mr. Swoboda shared that Mrs. Barbara Rickenback, a surviving firefighter’s widow, passed away recently. Ms. Sigdel introduced Darcy Buckley, the City of Pasco’s new Finance Manager. July 27, 2020 Fireman Pension Board Meeting Minutes - Approved on _____________ Old Business: None. Adjournment: There being no further business, the meeting adjourned at 6:14 PM. ________________________________ Debra Barham, Secretary Number Date Reconciled/ Voided Date Payee Name Transaction Amount FUND 610 - PENSION Journal Entry 2020-1751 7/1/2020 7/1/2020 City of Pasco 143.58 2020-1751 8/1/2020 8/1/2020 City of Pasco 143.58 2020-1751 9/1/2020 9/1/2020 City of Pasco 143.58 Type JE Totals: $430.74 53365 7/1/2020 7/1/2020 Parks, Randall 1,159.17 53366 7/1/2020 7/1/2020 Swoboda, Harvey 1,523.38 53397 8/1/2020 8/1/2020 Parks, Randall 1,159.17 53398 8/1/2020 8/1/2020 Swoboda, Harvey 1,523.38 53413 9/1/2020 9/1/2020 Parks, Randall 1,159.17 53414 9/1/2020 9/1/2020 Swoboda, Harvey 1,523.38 $8,047.65 EFT 30149594 7/1/2020 7/1/2020 Bailie, Beverly 298.75 30149595 7/1/2020 7/1/2020 Covington, Alvie 798.85 30149596 7/1/2020 7/1/2020 Ellingson, Janet 865.72 30149597 7/1/2020 7/1/2020 Maloy, Walter 1,872.35 30149598 7/1/2020 7/1/2020 Nelson, Opal 1,678.19 30151131 8/1/2020 8/1/2020 Bailie, Beverly 298.75 30151132 8/1/2020 8/1/2020 Covington, Alvie 798.85 30151133 8/1/2020 8/1/2020 Ellingson, Janet 865.72 30151134 8/1/2020 8/1/2020 Maloy, Walter 1,872.35 30151135 8/1/2020 8/1/2020 Nelson, Opal 1,678.19 30152164 9/1/2020 9/1/2020 Bailie, Beverly 298.75 30152165 9/1/2020 9/1/2020 Covington, Alvie 798.85 30152165 9/1/2020 9/1/2020 Ellingson, Janet 865.72 30152167 9/1/2020 9/1/2020 Maloy, Walter 1,872.35 301522168 9/1/2020 9/1/2020 Nelson, Opal 1,678.19 2 - Payroll Totals $24,589.23 All Types Totals Fund 610 - Pension $25,019.97 CITY OF PASCO - PRODUCTION Payment Register From Payment Date: 7/1/2020 - To Payment Date: 9/30/2020 2 - Payroll Check Page 1 of 3 Number Date Reconciled/ Voided Date Payee Name Transaction Amount CITY OF PASCO - PRODUCTION Payment Register From Payment Date: 7/1/2020 - To Payment Date: 9/30/2020 FUND 619 - OPEB (Medical) 2020-1372 7/1/2020 7/1/2020 City of Pasco 7,295.00 2020-1372 8/1/2020 8/1/2020 City of Pasco 7,295.00 2020-1372 9/1/2020 9/1/2020 City of Pasco 7,295.00 Insurance Premium Totals 21,885.00$ 2020-1751 7/1/2020 7/1/2020 City of Pasco 104.17 2020-1751 8/1/2020 8/1/2020 City of Pasco 104.17 2020-1751 9/1/2020 9/1/2020 City of Pasco 104.17 Administrative Expense Totals $ 312.51 $ 22,197.51 All Types Totals: Fund 619 - OPEB (Medical) Page 2 of 3 CITY OF PASCO FIRE PENSION FUND FINANCIAL STATEMENTS -3rd Quarter 2020 JULY 1, 2020 through SEPTEMBER 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 (8,486) (8,486) 35,766 35,766 478,391 478,391 463,999 452,387 INVESTMENTS AMERICAN FUNDS - INVEST CO. OF AMERICA*2,546,234 2,585,513 2,084,823 2,342,040 AMERICAN FUNDS - WASH. MUT. INVESTORS*3,438,460 3,275,642 2,784,174 3,213,232 SBA Dev. PARTICIPATION CERTIFICATES 11,810 11,810 17,308 17,610 INVESTMENT IN LID 146 10,869 10,869 11,169 11,169 TOTAL ASSETS 3,429,974 3,267,156 2,819,940 3,248,998 3,047,304 3,086,583 2,577,298 2,894,221 FUND EQUITY RESERVED FUND EQUITY 3,429,974 2,819,940 3,047,304 2,577,298 TOTAL LIABILITIES AND FUND EQUITY 3,429,974 2,819,940 3,047,304 2,577,298 *Dividend deposit is in transit for $14,639 for OPEB fund. STATEMENT OF REVENUES OVER EXPENDITURES SEPTEMBER 30 SEPTEMBER 30 EXCLUDING UNREALIZED GAINS & LOSSES 2020 2019 2019 2019 REVENUES FIRE INSURANCE PREMIUM TAX (STATE-Annual/May)89,252 73,414 INTEREST INCOME-AMERICAN FUNDS 29,279 36,475 19,948 25,994 INVESTMENT INTEREST INCOME 146 479 2,517 4,395 TOTAL REVENUES 29,425 36,954 111,716 103,803 EXPENDITURES PENSIONS 89,766 96,667 MISCELLANEOUS PROF SERVICES 3,500 187 375 3,500 ADMINISTRATIVE SERVICES 938 2,898 1,292 1,067 MEDICAL INSURANCE - INTERFUND 65,655 72,950 - - 1RETIREE MEDICAL SERVICES - 50,003 - - TOTAL EXPENDITURES 70,093 76,035 91,434 101,234 REVENUES OVER EXPENDITURES (40,668) (39,081) 20,283 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 2020 2019 2019 2019 OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 UNADJUSTED FINAL UNADJUSTED FINAL Fireman Pension Board 2021 Quarterly Meeting Schedule 2ND Monday (Meetings date subject to change due to availability of participants) Location: GoToMeeting until Proclamation No. 20-28 is lifted and then Pasco City Hall Conference Room No. 1 January 11, 2021 6:00 pm April 12, 2021 6:00 pm MID-YEAR [COLA & Retro Pay Calculation Presentation by HR] July 12, 2021 6:00 pm October 11, 2021 6:00 pm