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HomeMy WebLinkAbout2022.01.10 Fireman Pension Board Agenda Packet FIREMAN PENSION BOARD Meeting Agenda ____________________________________________________________________ January 10, 2022 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  Mayor Blanche Barajas  Mayor Pro Tem Craig Maloney - Alternate  Darcy Buckley, Finance Manager  Debby Barham, City Clerk 1. Board Member Business: Election Results of Fireman Position on Board and New Board Chair (Elected Official) and Alternate Chair (Elected Official) 2. Minutes: Approve October 11, 2021 Meeting Minutes. Motion was made by ___________________ and seconded by _______________ to approve the October 11, 2021, Meeting Minutes. 3. Bills: Approve 2021 Fourth (4th) Quarter Transaction Ledger. Motion was made by ___________________ and seconded by _______________ to approve the expenditure transactions as presented. 4. Financial Statement: Fourth (4th) Quarter Financial Statements - presentation by Finance Manager Buckley 5. New Business: 6. Old Business: 7. Adjourn: Next Regular Meeting: April 11, 2022 October 11, 2021 Fireman Pension Board Meeting Minutes - Approved on _____________ City of Pasco FIREMAN PENSION BOARD OCTOBER 11, 2021 MINUTES Call To Order: The meeting was called to order at 6:05 p.m., by Mayor Saul Martinez. Roll Call: Present: Mayor Saul Martinez, Chair; Alvie Covington, Board Member; Harvey Swoboda, Board Member; Darcy Buckley, Finance Manager; and Debby Barham, City Clerk. Approval of Minutes: Mr. Swoboda moved, and Mr. Harvey seconded a motion to approve July 12, 2021 meeting minutes. Motion carried unanimously. Transaction Ledger: The Firemen Pension Board members reviewed the 2021 Third (3rd) Quarter Transaction Ledger. Following discussion, Mr. Swoboda moved, and Mr. Harvey seconded a motion to approve the expenditure transactions as presented. Motion carried unanimously. Financial Report: Ms. Buckley provided a brief overview of the Second and Third Quarter Financial reports. New Business: The Board discussed the proposed 2022 meeting schedule, and it will remain the on the same schedule, the second Monday of the new quarter. The next meeting is scheduled for January 10, 2022. Also, Mr. Swoboda’s term will expire on December 31, 2021 and ballots will be mailed out to the Old Fireman Pension for this position on the Board and will include a return date of December 31, 2021. After a member is appointed or reappointed to this position a letter will be mailed to the membership. DRAFT October 11, 2021 Fireman Pension Board Meeting Minutes - Approved on _____________ Mayor Martinez expressed his appreciation to the Board and wished them well as this was his last meeting. He is looking forward to new endeavors as he transitions away from public service. Old Business: None. Adjournment: There being no other business, the meeting was adjourned at 6:20 p.m. ________________________________ Debra Barham, Secretary Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount FUND 610 - PENSION Journal Entry 2021-00001376 10/1/2021 Administrative Expense Chargeback City of Pasco 142.88 2021-00001376 11/1/2021 Administrative Expense Chargeback City of Pasco 142.88 2021-00001376 12/1/2021 Administrative Expense Chargeback City of Pasco 142.88 Type JE Totals:$428.64 53764 10/1/2021 10/8/2021 Payroll Check Parks, Randall 1,165.18 53765 10/1/2021 10/7/2021 Payroll Check Swoboda, Harvey 1,377.32 53781 11/1/2021 11/9/2021 Payroll Check Parks, Randall 1,165.18 53782 11/1/2021 11/4/2021 Payroll Check Swoboda, Harvey 1,377.32 53797 12/1/2021 Payroll Check Parks, Randall 1,165.18 53798 12/1/2021 Payroll Check Swoboda, Harvey 1,377.32 $7,627.50 EFT 30166786 10/1/2021 10/1/2021 Payroll EFT Covington, Alvie 717.32 30166787 10/1/2021 10/1/2021 Payroll EFT Ellingson, Janet 886.60 30166788 10/1/2021 10/1/2021 Payroll EFT Maloy, Walter 1,887.41 30167844 11/1/2021 11/1/2021 Payroll EFT Covington, Alvie 717.32 30167845 11/1/2021 11/1/2021 Payroll EFT Ellingson, Janet 886.60 30167846 11/1/2021 11/1/2021 Payroll EFT Maloy, Walter 1,887.41 30168906 12/1/2021 Payroll EFT Covington, Alvie 717.32 30168907 12/1/2021 Payroll EFT Ellingson, Janet 886.60 30168908 12/1/2021 Payroll EFT Maloy, Walter 1,887.41 Payroll Totals $10,473.99 All Types Totals Fund 610 - Pension $18,530.13 CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 10/01/2021 - To Payment Date: 12/31/2021 Payroll Check Page 1 of 2 Number Date Reconciled/ Voided Date Source Payee Name Transaction Amount CITY OF PASCO - PRODUCTION Fire Pension Fund Payment Register From Payment Date: 10/01/2021 - To Payment Date: 12/31/2021 FUND 619 - OPEB (Medical) 2021-00000018 10/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00 2021-00000018 11/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00 2021-00000018 12/1/2021 Old Fire Pension Medical Premium City of Pasco 7,295.00 Insurance Premium Totals 21,885.00$ 2021-00001376 10/1/2021 Administrative Expense Chargeback City of Pasco 96.89 2021-00001376 11/1/2021 Administrative Expense Chargeback City of Pasco 96.89 2021-00001376 12/1/2021 Administrative Expense Chargeback City of Pasco 96.89 Administrative Expense Totals $ 290.67 $ 22,175.67 All Types Totals: Fund 619 - OPEB (Medical) Page 2 of 2 CITY OF PASCO FIRE PENSION FUND FINANCIAL STATEMENTS - 4th Quarter 2021 October 1, 2021 through December 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 49,481 49,481 2,166 2,166 548,796 553,676 481,169 481,169 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 7,103 7,103 10,567 10,567 INVESTMENT IN LID 146 4,821 4,821 8,469 8,469 INTEREST RECEIVABLE - INVESTMENTS - - TOTAL ASSETS 3,604,457 3,604,457 3,632,142 3,632,142 3,427,632 3,432,512 3,367,117 3,367,117 FUND EQUITY RESERVED FUND EQUITY 3,604,457 3,632,142 3,427,632 3,367,117 TOTAL LIABILITIES AND FUND EQUITY 3,604,457 3,632,142 3,427,632 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 61,186 62,128 40,182 39,955 INVESTMENT INTEREST INCOME 22 191,662 785 323,552 I/F LOAN REPAY - 255 546 TOTAL REVENUES 61,208 253,790 139,593 453,304 EXPENDITURES PENSIONS 76,598 111,111 MISCELLANEOUS PROF SERVICES 190 3,500 1,750 375 ADMINISTRATIVE SERVICES 1,163 1,250 1,715 1,723 MEDICAL INSURANCE - INTERFUND 87,540 87,540 1RETIREE MEDICAL SERVICES - - - - TOTAL EXPENDITURES 88,893 92,290 80,062 113,209 REVENUES OVER/(UNDER) EXPENDITURES (27,685) 161,500 59,531 340,095 *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-Dec 30-Dec 30-Dec 30-Dec 30-Dec 30-Dec 30-Dec 30-Dec 2021 2020 2021 2020 OPEB (MEDICAL) - FUND 619 PENSION - FUND 610 UNADJUSTED FINAL UNADJUSTED FINAL