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MINUTES OF THE REGULAR MEETING
BOARD OF TURSTEES
FIREMEN'S PENSION AND RELIEF FUND
May 3, 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, May 31 1971, at 4:30 P.M.
Present: Chairman Wesley M. Howe, Secretary LoVetta Moore, Treasurer
Patrick J. Tobin, Acting Fire Chief Charles McWhorter and Board Members:
Joe Fraley, Paul Logue, and Carl Springston.
Absent: Dean Harris.
The minutes of the last regular meeting on April 5, 1971, a copy of which
had previously been distributed to each of the Board Members, were approved.
The Secretary presented the Authorization Form to pay the April pensions
and noted that Clarence W. Tune and L. Burl Skelton had been added to the
list and the amount of their pension checks had been prorated from April 5,
the date their Retirement Applications were presented to the Board for
action. City Manager Howe reported that City Attorney David Malone was
making an investigation in connection with Mr. Skelton's pension eligibility
• and his investigation had not been completed at the time of this meeting.
After discussion by the Board, Mr. McWhorter moved that the April dis-
bursements be allowed contingent upon the findings of the City Attorney
with respect to Mr. Skelton's eligibility.
The motion was seconded by Mr. Fraley, and upon roll call the following
vote was recorded:
"Aye", McWhorter, Fraley, Logue and Springston.
"Nay", None. There being four "Ayes" and no "Nays", the Chairman declared
the motion passed.
Treasurer Tobin discussed the Financial Statement for the period ended
April 30, 1971, and also reported to the Board information he had obtained
concerning a question raised at the last meeting concerning the Financial
Statement. He reported that the figure for the 3% Officers Contribution
Fund was a running total rather than a total for the year.
Treasurer Tobin
reported
that
the
$105,000
reinvestment
at
the First Federal
at 6% interest
had been
taken
care
of, as
authorized at
the
last meeting.
Mr. McWhorter reported that it had been called to his attention that a law
had been put into effect which would allow this Board to authorize an
increase in the retirement pay of Allen Strain. He stated that he would
like to discuss this matter with the rest of the Fire Department members
before further action is taken. The Fire Department members will be
meeting Thursday night, May 6, 1971, at which time this matter could be
0
brought to their attention. He further indicated that if the members
present at that meeting are favorable toward this action, this Board
might wish to call a Special Meeting to officially authorize an increase
in Allen Strain's retirement check prior to the preparation of the
May disbursement list.
There being no further business, Mr. Fraley moved that the meeting be
adjourned. The motion was seconded by Mr. Logue and passed unanimously,
whereupon the Chairman declared the meeting adjourned.
ATTEST: ( O`(� & lI wu-)
LoVetta Moore, Secretary
•
40
APPROVED: %!!�i�/
Wesle . Howe, Chr�
•
•
•
Cash in Bank
Savings Account
Investments
Total Assets
FIRE PENSION
Balance Sheet
At April 30, 1971
ASSETS
LIABILITIES AND SURPLUS
Refundable Officers Contribution
Due Other Funds
Retirement Reserve
.Total Liabilities P, Reserve
$ 5,618.44
5,062.79
335,000.00
$3452681.23
$ 23,929.29
-0-
321,751.94
$345,681.23
STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS
For the Period January 1, 1971 - April 30, 1971
Cash Balance, Dec. 31, 1970
$
132992.71
Receipts:
Property Tax
4,914.94
From Other Funds
617.75
Interest Received
31823.72 '
Officers Contribution
11829.87
Ambulance Service Payments
23.00
Total Receipts
$
112209.28
Total Available
252201.99
Disbursements:
Purchase of Investments
$
5,000.00
Pension Paid
82235.40
Refund to Officers Terminated
134.29
To Other Funds
6,213.86
Total Disbursements
$
19,583.55
BALANCE - April 30, 1971
$
51618.44