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CITY OF RENTON
FIREMEN'S PENSION BOARD
Regular Meeting
7th Floor-Mayor's Conference Room
16-Jul-03
10:00 A.M.
1. CALL TO ORDER
2. APPROVAL OF MINUTES OF JUNE 18, 2003
3. CORRESPONDENCE
4. MONTHLY STATEMENT TO 6/30/2003
5. MONTHLY BILLS AND PENSION PAYMENTS
6. OLD BUSINESS
7. NEW BUSINESS
8. ADJOURNMENT
F *oar MINUTES v—
FIREMEN'S PENSION BOARD
CITY OF RENTON
June 18, 2003
Jesse Tanner, Mayor
King Parker, Council Finance Committee Chair
Bonnie Walton, City Clerk
Ray Barilleaux, Fire Department Representative
William Henry, Fire Department Representative
William Larson, Fire Department Alternate
The regular meeting of the Firemen's Pension Board was called to order by Chairman Jesse Tanner at
10:00 a.m. in the Mayor's conference room, 7th floor of Renton City Hall. In attendance were Board
members Jesse Tanner, King Parker, Ray Barilleaux, Bill Henry and Bonnie Walton; and Jill
Masunaga, Finance Department Representative
MINUTE APPROVAL
MOVED BY PARKER, SECONDED BY BARILLEAUX, THE PENSION BOARD APPROVE THE
MINUTES OF THE MAY 21, 2003, MEETING. CARRIED.
CORRESPONDENCE
A memo was entered from the Board Secretary recommending that the Board adopt a 1.8% increase for
widows of firemen pension prior to the LEON, Act (1970) in accordance with the CPI for the previous
calendar year for the Seattle area. MOVED BY WALTON, SECONDED BY BARILLEAUX, THE
BOARD ADOPT THE 1.8% INCREASE EFFECTIVE JULY 1, 2003. CARRIED.
MONTHLY STATEMENT
The financial report as of May 31, 2003, was reviewed. Total cash/investment balance was
$5,226,640.48.
MONTHLY BILLS AND PENSION PAYMENTS
MOVED BY PARKER, SECONDED BY BARILLEAUX, THE BOARD APPROVE THE
PENSION/MEDICAL PAYMENTS FOR JUNE 2003, IN THE TOTAL AMOUNT OF$30,277.46.
CARRIED.
OLD BUSINESS
Regarding the Actuarial Valuation of Firefighter's Pension Fund report dated January 1, 2003, which
was distributed at the May 21, 2003, Firemen's Pension Board meeting, Mayor Tanner commented that
the report indicates the current assets of the Fund are estimated to be sufficient to pay all future
Firemen's Pension Fund benefits. There were no further comments or questions.
ADJOURNMENT
MOVED BY PARKER, SECONDED BY HENRY, THE MEETING OF THE FIREMEN'S
PENSION BOARD BE ADJOURNED. CARRIED. Time: 10:15 a.m.
Bonnie I. Walton, City Clerk
Member and Secretary, Firemen's Pension Board
CITY yr RENTON - FIREMEN'S PENSIOA$UND
CASH & INVESTMENT ACTIVITY REPORT
AS OF JUNE 30, 2003
Fireman's Pension Fund Comparison of Cash and Investment Activity
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
0 2003 ■2002
CURRENT 2003 2003 LAST YEAR 2002 2002
MONTH YTD BUDGET CURR MO YTD ADJ BUDGET
BEGINNING CASH/INV BALANCE $5,226,640.48 $5,312,164.41 $5,312,164 $5,410,533.98 $5,491,105.38 $5,491,105
RECEIPTS:
Property Taxes 0.00 0.00 $0 0.00 0.00 $0
Fire Insurance Premium Tax 0.00 63,087.83 $32,000 0.00 55,729.79 $32,000
Investment Interest 791.61 8,191.06 $115,000 1,251.17 10,819.77 $80,000
Interfund Loan Repmt/Golf Crs 0.00 0.00 $0 0.00 0.00 $0
DISBURSEMENTS:
Fire Pension 28,790.61 177,520.82 $355,000 27,076.29 170,321.08 $345,000
Office/Operating Supplies 0.00 0.00 $400 0.00 0.00 $400
Actuarial/Firemen's Pens 0.00 4,575.00 $4,000 0.00 0.00 $0
Repairs&Maintenance 0.00 0.00 $0 0.00 0.00 $0
Reimb General/Clerical&Acct 542.00 3,248.00 $6,500 525.00 3,150.00 $6,300
ENDING CASH/INV BALANCE $5,198,099.48 $5,198,099.48 $5,093,264 $5,384,183.86 $5,384,183.86 $5,251,405
CURRENT PREVIOUS LAST YEAR LAST YEAR
ACTIVITY: MONTH MONTH CURR MO PREV MO
CASH $123,561.42 $152,102.42 $54,494.01 $80,844.13
INVESTMENTS
CD's&State Investment Pool 749,767.46 749,767.46 749,767.46 749,767.46
Snohomish County Housing Authority 98,272.00 98,272.00 98,272.00 98,272.00
1 Treasury Strips&Zero Coupon Bonds 4,226,498.60 4,226,498.60 4,481,650.39 4,481,650.39
Corporate Bonds 0.00 0.00 0.00 0.00
Convertable Bonds 0.00 0.00 0.00 0.00
Mutual Funds 0.00 0.00 0.00 0.00
TOTAL CASH AND INVESTMENTS $5,198,099.48 $5,226,640.48 $5,384,183.86 $5,410,533.98
The State Investment Pool interest 1.1904% 1.2261% 1.9379% 1.9379%