The URL can be used to link to this page

Home My WebLink About1969-01-06 Minutes• MINUTES OF THE REGULAR MEETING OF THE BOARD OF TRUSTEES OF THE FIREMEN'S PENSION & RELIEF FUND The regular meeting of the Board of Trustees of the Firemen's Pension & Relief Fund of Fayetteville, Arkansas, was held in the Directors Room on Monday. Canuary 6, 1969, at 4:45 P.M. Present: Fire Chief Burl Skelton, Retiring Secretary George J. Davis, Secretary Marilyn Moore, Treasurer Albert J. Jones, and Board Members: Paul Logue, Paul Blackard, Bill Harris. Absent: Chairman City Manager Gerald G. Fox, and Board Member Clarence Tune. Fire Chief Skelton acted as Chairman Pro Tem in the absence of the City, Manager. The minutes of the regular meeting on Monday, December 2, 1968, were read by Retiring Secretary George J. Davis and approved. City Clerk Marilyn Moore then assumed full duties as the Secretary. The Secretary presented the Authorization Form to pay the December pensions. Mr. Harris moved that the disbursements be allowed. The viotion was seconded by Mr. Blackard and upon roll call the following vote was recorded: "Ave" Skelton, Logue, Blackard, and Harris. "Nave none. There being Four "Ayes" and no "Nays", the Chairman Pro Tem declared the motion passed. The Secretary reported that Fireman Charles Jordan had repaid his contributions in the amount of $57.10, which he had withdrawn upon his resignation in 1968, and is now in good standing. The Secretary reported a surplus in the amount of $5,000.00 in the checking account and recommended this be invested with Guaranty Savings and Loan Associa- tion, Harrison, Arkansas, at the rate of 51% interest, thereby bringing the total investment to $15,000.00. Mr. Blackard moved to invest $5,000.00 with the Guaranty Savings and Loan Association, Harrison, Arkansas, as recommended by the Secretary. The motion was seconded by Mr. Harris and upon roll call the following vote was recorded: "Aye" Skelton, Logue, Blackard, and Harris. "Nay" None. There being four "Ayes" and no "Nave" the Chairman Pro Tem declared the motion passed. There being no further business, Mr. Harris moved to adjourn. The motion was seconded by Mr. Blackard and passed unanimously, whereupon the Chairman Pro Tem declared the meeting adjourned. APPROVED: • ;60* to ATTEST: FIRE CHIEF BURL SKELTON CHAIRMAN PRO TEM RIL MOORE, SECRETARY 0 FAYETTEVILLE, ARKANSAS DEPARTMENT OF FINANCE Board of Trustees Firemens Pension and Relief Fund Fayetteville, Arkansas Gentlemen: HILLCREST 3.4301 January 30, 1969 Attached are the financial statements for the Firemens Pension and Relief Fund for the year ended December 31, 1968. In addition, a copy of the minutes of the January Board Meeting • are attached for your review prior to the February 3rd. meeting. The financial statements are self-explanatory, however, your attention is directed to the schedule of investments on page three. Investments with the First Federal of Little Rock pays only 4 3/4 per cent. It is my understanding that the Savings and Loan Associations of Little Rock do not offer the 5 1/4 per cent variable rate certificate. AJJ/bb • Respectfully submitted, AlbeMones City Controller Cash in bank: Checking account Savings account Investments - at cost Total assets City of Fayetteville. Arkansas Firemen's Pension and Relief Fund Balance Sheet At December 31. 1968 W= $ 10,839.35 2,374.31 Liabilities and Reserve Refundable Officer's Contributions Retirement Reserve Total Liabilities and Reserve Statement of Cash Receipts and Disbursements For the Year Ended December 31. 1968 • Cash balance, December 31, 1967 Receipts Property taxes $ 30079.76 State Insurance Commission 120267.10 Interest received 119287.87 Officer's contributions 40253.26 Ambulance service payments .708.00 Maturity of U. S. Bonds 2,000.00 Transfer from Payroll Ful 129.03 Miscellaneous 35.02 Total receipts Total available Disbursements Purchase of investments $ 45,000.00 Pensions paid 20,288.24 Refunds to Officerts terminated 629.36 Total disbursements Cash balance, December 31, 1968 • -2- $ 13,213.66 245,000.00 $258,213.66 $ 13,705.26 244,508.40 $258,213.66 $ 18,271.22 60.860.04 $ 799131.26 65,917.60 $ 139213.66 I City of Fayetteville. Arkansas Schedule of Investments At December 31. 1968 1-1068 1-10-69 5 1/4 $ 109000.00 Date Interest 7-10-69 Fund Acquisition Maturity Rate Cost Firemens Pension and Relief Fund 5 1/4 15,000.00 First Federal of Rogers 1-12-68 Certificates of deposit: 5 1/4 100000000 First Federal of Rogers 7-13-68 McIlroy Bank 1-10-68 1-10-69 4 1/2 $ 100000.00 First State of Springdale 7-0549 7-05-69 4 1/2 102000.00 First National of Springdale 8-08-69 8=10"9 4 1/2 10,000.00 Bank of Elkins 10-1248 10-12-69 4 1/2 102000.00 Total Certificates of Deposit 5 1/4 15,000.00 Superior Federal of Fort Smith $ 40.000.00 Savings and Loan Associations: Fayetteville 1-1068 1-10-69 5 1/4 $ 109000.00 Fayetteville 7-10-68 7-10-69 5 1/4 5,000.00 • First Federal of Fayetteville 1-10-68 1-1049 5 1/4 15,000.00 First Federal of Rogers 1-12-68 1-1249 5 1/4 100000000 First Federal of Rogers 7-13-68 7-13-69 5 1/4 5,000.00 First Federal of Little Rock 12-094 4 3/4 100000.00 First Federal of Little Rock 8-0948 4 3/4 59000.00 First Federal of Fort Smith 2-07,-68 2-07-69 5 1/4 15,000.00 Standard Federal of Fort Smith 10-1748 5 1/4 15,000.00 Superior Federal of Fort Smith 1-1048 1-1049 5 1/4 15,000.00 Peoples Federal of Fort Smith 1-1548 1-1549 5 1/4 15,000.00 United of Fort Smith 8-1348 8-13-69 5 1/4 159000.00 Springdale 1-1048 1-10.9 5 1/4 15,000.00 Benton County - Bentonville 1-11-68 1-11-69 5 1/4 10,000.00 Benton County - Bentonville 8-1048 8-1049 5 1/4 5,000.00 Harrison Federal 1-1148 1-1149 5 1/4 102000.00 Harrison Federal 1-11-68 1-11-69 5 1/4 5,000.00 Guaranty of Harrison 1-1148 1-1149 5 1/4 109000.00 Liberty of Siloam Springs 8-2248 8-2249 5 1/4 15,000.00 Total Savings and Loan Associations $2059000.00 Total Firemens Pension and Relief Fund $245,000.00 • -3- City of Fayetteville, Arkansas Schedule of Officer's Contributions A•_ At December 31, 1968 -4- Baird, Richard $ 363.54 Schader, Troy $ 410.61 Boudrey, Bill 621.22 Skelton, Roy 300.02 Boudrey, Howard 556.73 Springston, Carl 849.59 Does, Marion 469.66 Stout, Orville 882.87 Farrar, Lonnie 875.81 Wright, Randell 594.04 Fraley, Joseph 716.29 Skelton, Burl 1,095.56 Frederick, Dale 416.17 Jordan, Charlie 107.88 King, Arnold 684.32 Poage, Larry 97.00 Logue, Paul 765.38 Osburn, Troy 92.15 McArthur, Ronald 537.85 Ryan, Larry 77.60 McWhorten, Charles 556.61 Jody, Darrel 72.75 Miller, Donald 714.74 Boudrey, Jack 70.32 Miller, Kenneth 297.12 Mullens, Dennis 53.35 Osburn, Edward 347.83 Lewis, Charles 24.25 Preston, David 549.47 Hattabaugh, Jerry 9.70 Schader, Earvel 494.83 Total $13,705.26 Pension List At December 31, 1968 PAYEE AMOUNT 1: Hugh E. Barnes $ 35.00 2. Mrs. S. M. Cook 25.00 3. Marvin Murphy 35.00 4. Ansel Polly 35.00 5. Lee Skelton 129.77 6. Allen Strain 60.00 7. Frank M. Brovm 35.00 8. Mrs, Hal Lane and Leslie Ann Lane 35.00 9. Ellis N. Poore 160.25 10. Roy Cole 35.00 ii. William H. Morris 50.00 12. Charles F. Johnson 182.50 13. Lacy Dearing 35.00 14. Cleo Morris 35.00 15. Jess Tune 60.00 16. Everett Cole 175.00 17. Oliver Ray Davis 177.50 18.,Floyd Carl, Jr. 35.00 19. Merlin Layer 217.50 20. Arnold Christie 35.00 21. Donald W. Watts 200.00 22. -Boyle E. Morrison 60.00 Total $ 1,847.52 -4-