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HomeMy WebLinkAbout2021.04.12 Fireman Pension Board Agenda Packet FIREMAN PENSION BOARD Meeting Agenda ____________________________________________________________________ April 12, 2021 6:00 p.m. GoToMeeting at: https://global.gotomeeting.com/join/759865357 or 1 (224) 501-3412 1. Call to order and Roll call: Present:  Alvie Covington  Harvey Swoboda  Scott Maloy-Alternate  Debby Barham  Mayor Saul Martinez  Darcy Buckley  Mayor Pro Tem Blanche Barajas - Alternate  Charlene Sandland 2. Minutes: Approve January 11, 2021 Meeting Minutes. Motion was made by ____________________and seconded by _______________ to approve the January 11, 2021, Meeting Minutes. 3. Bills: Approve 2021 First 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: 6. Old Business: 7. Adjourn: Next Regular Meeting: July 12, 2021 January 11, 2021 Fireman Pension Board Meeting Minutes - Approved on _____________ City of Pasco FIREFIGHTERS’ PENSION BOARD JANUARY 11, 2021 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 6:08 p.m., via GoToMeeting. Roll Call: Present: Saul Martinez, Mayor; Blanche Barajas, Mayor Pro Tem (Alternate Member); Harvey Swoboda, Board Member; Alvie Covington, Board Member; Darcy Buckley, Finance Manager and Debby Barham, City Clerk. Approval of Minutes: Mr. Swoboda moved and Mr. Covington am seconded a motion to approve October 12, 2020 meeting minutes. Motion carried unanimously. Transaction Ledger: Ms. Buckley presented a copy of the 2020 Fourth (4th) 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. Buckley presented the 2020 Fourth (4th) Quarter financial statement. There no discussion on the financial report. New Business: Mayor Martinez introduced Adam Lincoln, the City of Pasco ’s new Deputy City Manager. Old Business: None. Adjournment: There being no further business, the meeting adjourned at 6:13 PM. ________________________________ Debra Barham, Secretary Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount FUND 610 - PENSION Journal Entry 2021-0056 1/31/2021 1/31/2021 Administrative Expense Chargeback City of Pasco 143.58 2021-0056 2/28/2021 2/28/2021 Administrative Expense Chargeback City of Pasco 143.58 2021-0056 3/31/2021 3/31/2021 Administrative Expense Chargeback City of Pasco 143.58 Type JE Totals: $430.74 53512 1/1/2021 1/7/2021 Payroll Check Parks, Randall 1,159.17 53513 1/1/2021 1/3/2021 Payroll Check Swoboda, Harvey 1,523.38 53530 2/1/2021 2/10/2021 Payroll Check Parks, Randall 1,275.33 53531 2/1/2021 2/10/2021 Payroll Check Swoboda, Harvey 1,687.10 53548 3/1/2021 4/2/2021 Payroll Check Parks, Randall 1,217.25 53549 3/1/2021 3/4/2021 Payroll Check Swoboda, Harvey 1,605.24 $8,467.47 EFT 30156798 1/1/2021 1/1/2021 Payroll EFT Covington, Alvie 798.85 30156799 1/1/2021 1/1/2021 Payroll EFT Ellingson, Janet 865.72 30156800 1/1/2021 1/1/2021 Payroll EFT Maloy, Walter 1,872.35 30156797 1/1/2021 1/1/2021 Payroll EFT Bailie, Beverly 250.64 30157803 2/1/2021 2/1/2021 Payroll EFT Covington, Alvie 917.23 30157804 2/1/2021 2/1/2021 Payroll EFT Ellingson, Janet 865.72 30157805 2/1/2021 2/1/2021 Payroll EFT Maloy, Walter 2,027.67 30158820 3/1/2021 3/1/2021 Payroll EFT Covington, Alvie 858.04 30158821 3/1/2021 3/1/2021 Payroll EFT Ellingson, Janet 865.72 30158822 3/1/2021 3/1/2021 Payroll EFT Maloy, Walter 1,950.01 2 - Payroll Totals 26 Transactions $11,271.95 All Types Totals Fund 610 - Pension $20,170.16 CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 1/01/2021 - To Payment Date: 3/31/2021 2 - Payroll Check Page 1 of 2 Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 1/01/2021 - To Payment Date: 3/31/2021 FUND 619 - OPEB (Medical) 2021-0018 1/1/2021 1/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00 2021-0018 2/1/2021 2/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00 2021-0018 3/1/2021 3/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00 Insurance Premium Totals 21,885.00$ 2021-0056 1/1/2021 1/1/2021 Administrative Expense Chargeback City of Pasco 174.16 2021-0056 2/1/2021 2/1/2021 Administrative Expense Chargeback City of Pasco 174.16 2021-0056 3/1/2021 3/1/2021 Administrative Expense Chargeback City of Pasco 174.16 Administrative Expense Totals $ 522.48 $ 22,407.48 All Types Totals: Fund 619 - OPEB (Medical) Page 2 of 2 CITY OF PASCO FIRE PENSION FUND FINANCIAL STATEMENTS -1st Quarter 2021 JANUARY 1, 2021 THROUGH MARCH 31, 2021 BALANCE SHEET BOOK MARKET BOOK MARKET BOOK MARKET BOOK MARKET VALUE VALUE VALUE VALUE VALUE VALUE VALUE VALUE ASSETS CASH - INVESTED WITH CITY PORTFOLIO 55,284 55,284 10,414 10,414 461,481 422,297 INVESTMENTS AMERICAN FUNDS - INVEST CO. OF AMERICA*2,866,912 2,866,912 2,546,234 2,546,234 AMERICAN FUNDS - WASH. MUT. INVESTORS*3,554,976 3,554,976 3,438,460 3,438,460 FEDERAL SECURITIES (4.875% - 5.250%) SBA Dev. PARTICIPATION CERTIFICATES 10,567 10,567 15,070 15,070 INVESTMENT IN LID 146 8,469 8,469 10,869 10,869 INTEREST RECEIVABLE - INVESTMENTS - - TOTAL ASSETS 3,610,260 3,610,260 3,448,874 3,448,874 3,347,429 2,885,948 2,994,470 2,572,173 FUND EQUITY RESERVED FUND EQUITY 3,610,260 3,448,874 3,347,429 2,994,470 TOTAL LIABILITIES AND FUND EQUITY 3,610,260 3,448,874 3,347,429 2,994,470 STATEMENT OF REVENUES OVER EXPENDITURES EXCLUDING UNREALIZED GAINS & LOSSES REVENUES FIRE INSURANCE PREMIUM TAX (STATE-Annual/May)- - INTEREST INCOME-AMERICAN FUNDS - - - - INVESTMENT INTEREST INCOME 3 117 52 1,637 TOTAL REVENUES 3 117 52 1,637 EXPENDITURES PENSIONS 19,739 34,188 MISCELLANEOUS PROF SERVICES - - - - ADMINISTRATIVE SERVICES 522 522 431 431 MEDICAL INSURANCE - INTERFUND 21,885 21,885 1RETIREE MEDICAL SERVICES - - - - TOTAL EXPENDITURES 22,407 22,407 20,170 34,619 REVENUES OVER/(UNDER) EXPENDITURES (22,404) (22,290) (20,119) (32,982) *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 31-Mar 31-Mar 31-Mar 31-Mar 2021 2020 2021 2020 OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 31-Mar 31-Mar 31-Mar 31-Mar 2021 2020 2021 2020