HomeMy WebLinkAbout1971-02-01 Minutes• MINUTES OF THE REGULAR MEETING
BOARD OF TRUSTEES
FIREMEN'S PENSION AND RELIEF FUND
February 1, 1971
The regular meeting of the Board of Trustees of the Firemen's Pension and
Relief Fund of Fayetteville, Arkansas, was held in the Directors Room in
the City Administration Building on Monday, February 1, 1971, at 4:30 P.M.
Present: Chairman Wesley M. Howe, Secretary LoVetta Moore, Treasurer
Patrick J. Tobin, Fire Chief Burl Skelton and Board Members: Joe Fraley,
Paul Logue, Carl Springston and Dean Harris.
Absent: None.
Mr. Logue moved to approve the minutes of the last regular meeting on
January 4, 1971, a copy of which had previously been mailed to each
Board Member.
The motion was seconded by Mr. Fraley and upon roll call the following
vote was recorded: "Aye" Skelton, Fraley, Logue, Springston and Harris.
"Nay" None. There being five "Ayes" and no "Nays", the Chairman
declared the motion passed.
The Secretary presented the Authorization Form to pay the January pensions.
Mr. Skelton moved that the disbursements be allowed. The motion was seconded
by Mr. Springston, and upon roll call the following vote was recorded: "Aye"
Skelton, Fraley, Logue, Springston and Harris. "Nay" None. There being
• five "Ayes" and no "Nays", the Chairman declared the motion passed.
The attached Financial Statement for the Year Ended December 31, 1970,
was discussed by Chairman Howe.
Chief Skelton reported Orville Stout would be dropped from the Pension
Fund Check List as of January 31, 1971,
Chief Skelton recommended that authorization be given to cash in the
Savings certificate with Fayetteville Building & Loan Association and
this money be deposited with the Pass Book Savings Account at the
McIlroy Bank. Mr. Logue moved that this authorization be given.
The motion was seconded by Mr. Harris and upon roll call the following
vote was recorded: "Aye" Skelton, Fraley, Logue, Springston and Harris.
"Nay" None. There being five "Ayes" and no "Nays", the Chairman declared
the motion passed.
There being no further business, Mr. Fraley moved that the meeting be
adjourned. The motion was seconded by Mr. Springston and passed unanimously,
whereupon the Chairman declared the meeting adjourned.
APPROVED:d
Wesley M/ Howe, Chairman
• ATTEST: /,(%
LoVetta Moore, Secretary
•
•
FIREMEN'S PENSIO: AND RELIEF' FUNDS
Balance Sheet
at December 31, 1970
ASSETS
Cash in Bank
Saving Account
Investments
Total Assets
LIABILITIES
b SUP.PLUS
Refundable Officers Contribution
Due Other Funds
Retirement Reserve
..'Total Liabilities 6 Reserves
STATEMENT OF CASH RECEIPTS
AND DISBURSEMENTS
For the Year Ended
December 31, 1970
Cash Balance, December 31, 1969
Receipts
Property Taxes
$ 38,259.11
State Insurance Commission
172316.00
Interest Received
152097.88
Officers Contribution
182001,77
Ambulance Service Payments
583.00
Total Receipts
Total Available -
Disbursements
Purchase of Investments
$ 52,646.94
Pensions Paid
253082.39
Refund to Officers Terminated
176.68
Total Disbursements
Cash Balance, December 31, 1970
$ .13,992.71
15,062.79
320,000.00
$ 3495055.50
$ 222233.71'.
5,155.05
321,666.74
$349,055.50
$ 12,640.96
79,257.76
$ 91,898.72
$ 77,906.01
$ 132992.71