HomeMy WebLinkAbout2021.07.12 Fireman Pension Board Agenda Packet
FIREMAN PENSION BOARD
Meeting Agenda
____________________________________________________________________
July 12, 2021
6:00 p.m.
Pasco City Hall, Conference Room No. 1
525 N. Third Avenue, Pasco, WA 99301
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 April 12, 2021 Meeting Minutes.
Motion was made by ____________________and seconded by _______________
to approve the April 12, 2021, Meeting Minutes.
3. Bills:
Approve 2021 Second 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: October 11, 2021
April 12, 2021 Fireman Pension Board Meeting Minutes - Approved on _____________
City of Pasco
FIREMAN PENSION BOARD
APRIL 12, 2021
MINUTES
Call To Order:
The meeting was called to order at 6:00 p.m., by Mayor Saul Martinez through GoToMeeting.
Roll Call:
Present: Mayor Saul Martinez, Chair; Alvie Covington, Board Member; Harvey Swoboda,
Board Member; Blanche Barajas, Alternate Chair; Scott Maloy, Alternate Board Member;
Darcy Buckley, Finance Manager; and Debby Barham, City Clerk.
Approval of Minutes:
Mr. Covington moved and Mr. Swoboda seconded a motion to approve January 11, 2021
meeting minutes. Motion carried unanimously.
Transaction Ledger:
Ms. Buckley presented a copy of the 2021 First (1st) Quarter Transaction Ledger.
Following 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 2021 First (1st) Quarter financial statement. There was a brief
discussion regarding the investments when payments are no longer issued to pensioners; the
funding will be transferred to the City of Pasco at that time.
New Business:
None.
Old Business:
None.
Adjournment:
There being no other business, the meeting was adjourned at 6:09 p.m.
________________________________
Debra Barham, Secretary
DRAFT
Number Date
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
FUND 610 - PENSION
Journal Entry
2021-00001376 4/1/2021 4/1/2021 Administrative Expense Chargeback City of Pasco 142.88
2021-00001376 5/1/2021 5/1/2021 Administrative Expense Chargeback City of Pasco 142.88
2021-00001376 6/1/2021 6/1/2021 Administrative Expense Chargeback City of Pasco 142.88
Type JE Totals: $428.64
53570 4/1/2021 4/9/2021
Payroll Check Parks, Randall 1,217.25
53571 4/1/2021 4/2/2021
Payroll Check Swoboda, Harvey 1,444.72
53584 5/1/2021 5/6/2021
Payroll Check Parks, Randall 1,217.25
53585 5/1/2021 5/10/2021
Payroll Check Swoboda, Harvey 1,444.72
53600 6/1/2021 6/3/2021
Payroll Check Parks, Randall 1,217.25
53601 6/1/2021 6/7/2021
Payroll Check Swoboda, Harvey 1,444.72
$7,985.91
EFT
30159843 4/1/2021 4/1/2021
Payroll EFT Covington, Alvie 772.24
30159844 4/1/2021 4/1/2021
Payroll EFT Ellingson, Janet 865.72
30159845 4/1/2021 4/1/2021
Payroll EFT Maloy, Walter 1,950.01
30160864 5/1/2021 5/1/2021
Payroll EFT Covington, Alvie 772.24
30160865 5/1/2021 5/1/2021
Payroll EFT Ellingson, Janet 865.72
30160866 5/1/2021 5/1/2021
Payroll EFT Maloy, Walter 1,950.01
30161886 6/1/2021 6/1/2021
Payroll EFT Covington, Alvie 772.24
30161887 6/1/2021 6/1/2021
Payroll EFT Ellingson, Janet 865.72
30161888 6/1/2021 6/1/2021
Payroll EFT Maloy, Walter 1,950.01
Payroll Totals $10,763.91
Professional Services
Check
241340 4/21/2021 4/26/2021
Professional Services Healthcare Actuaries 1,750.00
$1,750.00
All Types Totals Fund 610 - Pension $20,928.46
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 4/01/2021 - To Payment Date: 6/30/2021
Payroll
Check
Page 1 of 2
Number Date
Reconciled/
Voided Date Source Payee Name
Transaction
Amount
CITY OF PASCO - PRODUCTION
Fire Pension Fund Payment Register
From Payment Date: 4/01/2021 - To Payment Date: 6/30/2021
FUND 619 - OPEB (Medical)
2021-00000018 4/1/2021 4/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00
2021-00000018 5/1/2021 5/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00
2021-00000018 6/1/2021 6/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00
Insurance Premium Totals 21,885.00$
2021-00001376 4/1/2021 4/1/2021 Administrative Expense Chargeback City of Pasco 96.89
2021-00001376 5/1/2021 5/1/2021 Administrative Expense Chargeback City of Pasco 96.89
2021-00001376 6/1/2021 6/1/2021 Administrative Expense Chargeback City of Pasco 96.89
Administrative Expense Totals $ 290.67
Professional Services
Check
241340 4/21/2021 4/26/2021 Professional Services Healthcare Actuaries 190.00
$ 190.00
$ 22,365.67 All Types Totals: Fund 619 - OPEB (Medical)
Page 2 of 2
CITY OF PASCO
FIRE PENSION FUND
FINANCIAL STATEMENTS - 2nd Quarter 2021
APRIL 1, 2021 THROUGH JUNE 30, 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 47,160 47,160 2,166 2,166 553,676 553,676 481,169 481,169
INVESTMENTS
AMERICAN FUNDS - INVEST CO. OF AMERICA*2,866,912 2,866,912 2,866,912 2,866,912
AMERICAN FUNDS - WASH. MUT. INVESTORS*3,554,976 3,554,976 3,629,976 3,629,976
FEDERAL SECURITIES (4.875% - 5.250%)
SBA Dev. PARTICIPATION CERTIFICATES 9,088 9,088 10,567 10,567
INVESTMENT IN LID 146 4,821 4,821 8,469 8,469
INTEREST RECEIVABLE - INVESTMENTS - -
TOTAL ASSETS 3,602,136 3,602,136 3,632,142 3,632,142 3,434,497 3,434,497 3,367,117 3,367,117
FUND EQUITY
RESERVED FUND EQUITY 3,602,136 3,632,142 3,434,497 3,367,117
TOTAL LIABILITIES AND FUND EQUITY 3,602,136 3,632,142 3,434,497 3,367,117
STATEMENT OF REVENUES OVER EXPENDITURES
EXCLUDING UNREALIZED GAINS & LOSSES
REVENUES
FIRE INSURANCE PREMIUM TAX (STATE-Annual/May)98,371 89,252
INTEREST INCOME-AMERICAN FUNDS 14,526 29,279 10,004 19,947
INVESTMENT INTEREST INCOME 9 145 371 2,391
I/F LOAN REPAY 240
TOTAL REVENUES 14,535 29,424 108,986 111,590
EXPENDITURES
PENSIONS 38,999 65,177
MISCELLANEOUS PROF SERVICES 190 3,500 1,750 375
ADMINISTRATIVE SERVICES 581 625 857 861
MEDICAL INSURANCE - INTERFUND 43,770 43,770
1RETIREE MEDICAL SERVICES - - - -
TOTAL EXPENDITURES 44,541 47,895 41,606 66,413
REVENUES OVER/(UNDER) EXPENDITURES (30,006) (18,471) 67,380 45,177
*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.
2021 2020 2021 2020
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
30-Jun 30-Jun 30-Jun 30-Jun
30-Jun 30-Jun 30-Jun 30-Jun
2021 2020 2021 2020
OPEB (MEDICAL) - FUND 619 PENSION - FUND 610
UNADJUSTED FINAL UNADJUSTED FINAL