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Home My WebLink AboutFinal Agenda PacketAkWK•7A:7A01Cal Regular Meeting 7th Floor -Mayor's Conference Room Thursday, September 19, 2013 1. CALL TO ORDER 2. APPROVAL OF MINUTES OF JULY 18, 2013 4. MONTHLY STATEMENTS FOR JULY 31 & AUGUST 31, 2013 5. MONTHLY BILLS AND PENSION PAYMENTS - Aug & Sept 6. UNFINISHED BUSINESS 8. ADJOURNMENT Denis Law, Mayor Terri Briere, Council Finance Committee Chair (Substitute: Don Persson, Council Finance Committee Vice -Chair) Bonnie Walton, City Clerk Ray Barilleaux, Fire Department Representative Bruce Phillips, Fire Department Representative Chuck Christensen, Fire Department Alternate The regular meeting of the Firemen's Pension Board was called to order by Mayor Denis Law at 2:00 p.m. in the Mayor's Conference room, 7th floor of Renton City Hall. In attendance were Board members Mayor Denis Law, Don Persson (substitute), Ray Barilleaux, Bruce Phillips, and Bonnie Walton. Also present was Jill Masunaga, Finance Department Representative. MOVED BY BARILLEAUX, SECONDED BY PHILLIPS, THE PENSION BOARD APPROVE THE MINUTES OF THE MAY 16, 2013 MEETING. CARRIED. CORRESPONDENCE A memorandum from Bonnie Walton was presented with the US Department of Labor's 2012 Annual Consumer Price Index (CPI) report for All Urban Consumers in the Seattle -Tacoma - Bremerton area. Approval of a 2.5% cost of living increase for widows pursuant to RCW 41.18.104 was recommended. MONTHLY STATEMENT The financial report for May 31, 2013, and a draft financial report for June 30, 2013 were presented and reviewed. Total cash/investment balance as of June 30, 2013, was $4,587,106.94. (See New Business) MONTHLY BILLS AND PENSION PAYMENTS MOVED BY BARILLEAUX, SECONDED BY PERSSON, THE BOARD APPROVE THE PENSION PAYMENTS FOR JUNE AND JULY 2013 IN THE AMOUNTS OF $15,040.34 AND $15,270.11 RESPECTIVELY, WHICH INCLUDES A 2.5% CPI INCREASE FOR WIDOWS EFFECTIVE JULY 1ST, TO BE PAID FROM THE FIREMEN'S PENSION FUND. CARRIED. NEW BUSINESS Finance Department Representative Jill Masunaga presented a report recapping the Firemen's Pension Fund (611) Investments as of January 1, 2013. Of the $2,317.079.90 total purchase price, 14 US Treasury Strips invested through Union Bank of California in November 1997 at a 6.1+% interest rate will mature in annual sequence through November 15, 2024, and 1 US Treasury Strip at a 5.6% interest rate (purchased in the amount of $356,701.36) will mature August 15, 2025. The remaining $99,555.84 invested in Federal National Mortgage Association (FNMA) through US Bank in May 2004 at a 5.9% interest rate, will mature on May 15, 2021. ADJOURNMENT MOVED BY WALTON, SECONDED BY BARILLEAUX, THE MEETING OF THE FIREMEN'S PENSION BOARD BE ADJOURNED. CARRIED. Time: 2:17 p.m. Bonnie I. Walton, City Clerk Member and Secretary, Firemen's Pension Board Next Meeting: September 19, 2013 2 6 5 m a 4 0 0 0 c 3 0 a, I CITY OF RENTON - FIREMEN'SPENSION l' CASH & INVESTMENT ACTIVITY REPORT OF 2013 Fireman's Pension Fund Comparison of Cash and Investment Activity Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec BEGINNING CASH/INV BALANCE $4,587,132.82 $4,556,003.05 $4,556,003 $4,378,110.22 $4,377,696.45 $4,377,696 RECEIPTS: Fire Insurance Premium Tax 0.00 128,865.67 100,000 0.00 119,667.72 100,000 Investment Interest 538.00 3,623.95 200,000 632.45 285,038.37 200,000 DISBURSEMENTS: Fire Pension 15,270.11 112,091.96 225,000 17,233.61 225,506.07 525,000 Fire Pension Medical 0.00 0.00 0 0.00 566.04 25,000 Office/Operating Supplies 0.00 0.00 475 0.00 327.38 475 Actuarial/Firemen's Pens 0.00 4,000.00 15,000 0.00 0.00 0 CASH/State Investment Pool INVESTMENTS: Federal National Mortgage Assn Treasury Strips & Zero Coupon Bonds Interest Receivable $2,249,127.21 $2,264,338.33 $1,848,789.89 $1,865,897.89 99,555.84 99,555.84 99,555.84 99,555.84 2,217,524.06 2,217,524.06 2,406,901.08 2,406,901.08 6,193.60 5,714.59 6,262.25 5,755.41 The State Investment Pool interest 0.1197% 0.1236% 0.1764% 0.1746% H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2013.xls\Jul 13 Page 1 9/3/2013 R 0 4 0 0 0 a 3 0 0, 0 CITY OF •PENSION , CASH & INVESTMENT ACTIVITY REPORT AS OF Fireman's Pension Fund Comparison of Cash and Investment Activity Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec BEGINNING CASH/INV BALANCE $4,572,400.71 $4,556,003.05 $4,556,003 $4,361,509.06 $4,377,696.45 $4,377,696 RECEIPTS: CURR MO PREV MO CASH/State Investment Pool $2,233,878.12 $2,249,127.21 $1,833,376.31 Fire Insurance Premium Tax 0.00 128,865.67 100,000 0.00 119,667.72 100,000 Investment Interest 468.77 4,092.72 200,000 538.32 285,038.37 200,000 DISBURSEMENTS: 2,406,901.08 Interest Receivable 6,641.35 6,193.60 4,980.54 6,262.25 Fire Pension 15,270.11 127,362.07 225,000 17,233.61 225,506.07 525,000 Fire Pension Medical 0.00 0.00 0 0.00 566.04 25,000 Office/Operating Supplies 0.00 0.00 475 0.00 327.38 475 Actuarial/Firemen's Pens 0.00 4,000.00 15,000 0.00 0.00 0 rvote: investment interest postea, montn ena not Tinauzea. H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2013.xls\Aug13 draft Page 1 9/13/2013 CURRENT PREVIOUS LAST YEAR LAST YEAR ACTIVITY: MONTH MONTH CURR MO PREV MO CASH/State Investment Pool $2,233,878.12 $2,249,127.21 $1,833,376.31 $1,848,789.89 INVESTMENTS: Federal National Mortgage Assn 99,555.84 99,555.84 99,555.84 99,555.84 Treasury Strips & Zero Coupon Bonds 2,217,524.06 2,217,524.06 2,406,901.08 2,406,901.08 Interest Receivable 6,641.35 6,193.60 4,980.54 6,262.25 TOTAL CASH AND INVESTMENTS ! $4,557,5W37 $4,572,400.71 ? $4,344,813,77 $4,361,508.06'' The State Investment Pool interest 0.1230% 0.1197% 0.1848% 0.1764% rvote: investment interest postea, montn ena not Tinauzea. H:\FINANCE\FINPLAN\FIREPEN\1_Fire_Pension_2013.xls\Aug13 draft Page 1 9/13/2013 FIREMEN'S PENSION BOARD PENSION/MEDICAL PAYMENTS FOR AUGUST, 2013 ecipient _ Pension Arnt = ;Medical �' , Total ANKENY, Charlie (Captain) BARILLEAUX, Ray (Battalion Chief) BEATTEAY, Karlen (Widow) $134.08 134.08 BERGMAN, Claudette (Widow) $53.19 53.19 CHRISTENSON, Chuck (Firefighter) $146.88 146.88 GEISSLER, Dick (Fire Chief) - - GOODWIN, Kathryn Lorayne (Widow) $946.20 946.20 HAWORTH, Constance (Widow) $3,187.19 3,187.19 HURST, Gerald (Firefighter) $461.64 461.64 JONES, Evelyn M. (Widow) $150.19 150.19 LARSON, William (Firefighter) - - LAVALLEY, Theodele (Captain) $235.75 235.75 MATTHEW, James (Deputy Chief) - - MC LAUGHLIN, JACK (Battalion Chief) $871.81 871.81 NEWTON, Gary (Lieutenant) $158.09 158.09 NICHOLS, Gerald (Battalion Chief) $399.75 399.75 PARKS-ANDREASON, Arlene (Widow) $116.20 116.20 PHILLIPS, Bruce H. (Deputy Chief) $66.17 66.17 PRINGLE, Arthur (Captain) $362.34 362.34 PRINGLE, S. Joan (Widow) $2,738.15 2,738.15 RIGGLE, David E. (Firefighter D Step) - - RUPPRECHT, Jim (Firefighter D Step) $12.46 12.46 SMITH, Leroy (Firefighter) $327.07 327.07 STROM, Doris (Widow) $3,495.34 3,495.34 TODD, Franklin (Firefighter) $391.16 391.16 TONDA, Lila Jean (Widow) - - VACCA, Nick (Lieutenant) $205.42 205.42 WALLS, Camille (Widow) $37.78 37.78 WALLS, Mercedes (Widow) - - WEISS, Cheryl (Widow) $627.44 627.44 WILLIAMS, Alta (Widow) - _ WOOTEN, Marilyn E. (Widow) $145.81 145.81 F7777Total Expenses: Pension/Medical $15,270:11 $0.00 $1s,270.11 Prior Year Pension/Medical Payments: Total Pension Payments for August, 2012 17,233.61 Total Medical Bills Reimbursed in August, 2012 0.00 Total Expenses: Medical/Pension 17,233.61 4 -SUMMARY 2013.XLS 8/6/2013 FIREMEN'S PENSION BOARD PENSION/MEDICAL PAYMENTS FOR SEPTEMBER,.2013 qq p_ Penson Amt =_ Metlicaln Total ANKENY, Charlie (Captain) BARILLEAUX, Ray (Battalion Chief) - _ BEATTEAY, Karlen (Widow) $134.08 134.08 BERGMAN, Claudette (Widow) $53.19 53.19 CHRISTENSON, Chuck (Firefighter) $146.88 146.88 GEISSLER, Dick (Fire Chief) - - GOODWIN, Kathryn Lorayne (Widow) $946.20 946.20 HAWORTH, Constance (Widow) $3,187.19 3,187.19 HURST, Gerald (Firefighter) $461.64 461.64 JONES, Evelyn M. (Widow) $150.19 150.19 LARSON, William (Firefighter) - - LAVALLEY, Theodele (Captain) $235.75 235.75 MATTHEW, James (Deputy Chief) - - MC LAUGHLIN, JACK (Battalion Chief) $871.81 871.81 NEWTON, Gary (Lieutenant) $158.09 158.09 NICHOLS, Gerald (Battalion Chief) $399.75 399.75 PARKS-ANDREASON, Arlene (Widow) $116.20 116.20 PHILLIPS, Bruce H. (Deputy Chief) $66.17 66.17 PRINGLE, Arthur (Captain) $362.34 362.34 PRINGLE, S. Joan (Widow) $2,738.15 2,738.15 RIGGLE, David E. (Firefighter D Step) RUPPRECHT, Jim (Firefighter D Step) $12.46 12.46 SMITH, Leroy (Firefighter) $327.07 327.07 STROM, Doris (Widow) $3,495.34 3,495.34 TODD, Franklin (Firefighter) $391.16 391.16 TONDA, Lila Jean (Widow) - - VACCA, Nick (Lieutenant) $205.42 205.42 WALLS, Camille (Widow) $37.78 37.78 WALLS, Mercedes (Widow) - WEISS, Cheryl (Widow) $627.44 627.44 WILLIAMS, Alta (Widow) - _ WOOTEN, Marilyn E. (Widow) $145.81 145.81 Total Expenses;, `Pension/Medical,;_ _ $15;270:11 $0.00 $15,270:11' Prior Year Pension/Medical Payments: Total Pension Payments for September, 2012 17,233.61 Total Medical Bills Reimbursed in September, 2012 0.00 Total Expenses: Medical/Pension 17,233.61 4_SUMMARY 2013.XLS 9/3/2013