HomeMy WebLinkAbout01-25-21 - Signed Minutes AGENDA ITEM #2. a)
MINUTES
FIREFIGHTERS' PENSION BOARD
CITY OF RENTON
January 25, 2021
Armondo Pavone, Mayor
Valerie O'Halloran, Finance Committee Chair
Jason Seth, City Clerk
Ray Barilleaux, Fire Department Representative
Kari Roller, Interim Administrative Services Administrator
Sean Hollingsworth, Finance Department Representative
Nate Malone, Tax and Licensing Program Manager
The regular meeting of the Firefighters' Pension Board was called to order by City Clerk Jason
Seth, at 2:33 p.m. via videoconference. In attendance were Mayor Pavone, Valerie O'Halloran,
Finance Committee Chair, City Clerk Jason Seth, and Fire Department Representative Ray
Barilleaux. Additionally, Kari Roller, Sean Hollingsworth, and Nate Malone, Finance Department
Representatives, were in attendance.
MINUTES APPROVAL
MOVED BY BARILLEAUX, SECONDED BY SETH, THE PENSION BOARD APPROVE THE MINUTES OF
THE NOVEMBER 23, 2020. CARRIED.
MONTHLY STATEMENT
The October, November, and draft December financial reports were reviewed. Total
cash/investment balance was, as of December 31, 2020, $7,898,630.60.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY BARILLEAUX, SECONDED BY O'HALLORAN,THE BOARD APPROVE THE
PENSION/MEDICAL PAYMENTS OF $18,215.43 FOR DECEMBER 2020, and $19,841.07 FOR
JANUARY 2021, TO BE PAID BY THE FIREFIGHTERS' PENSION FUND. CARRIED.
NEW BUSINESS
Nate Malone, Tax and Licensing Program Manager, presented a Call for Quotes for investment
opportunities he had recently received. He discussed the pros and cons of the chart and
suggested instead that the Board consider investing $1,000,000 in a Certificate of Deposit. He
noted that would leave over$6,000,000 in cash with approximately $1.8 million invested. Mr.
Malone also noted that two more investments will be maturing in 2021 and two others in 2022.
Discussion ensued. Mr. Malone agreed to call Mr. Barilleaux to explain the reasoning of the
recommendation and that no action on this matter would be taken until everyone's questions
had been satisfactorily answered.
ADJOURNMENT
MOVED BY PAVONE, SECONDED BY SETH, ADJOURN THE MEETING. TIME: 2:43 P.M.
on Seth, iL ty Clerk
Secretary, Firefighters' Pension Board