Loading...
HomeMy WebLinkAbout1971-06-14 Minutes�J • MINUTES OF THE REGULAR MEETING BOARD OF TRUSTEES FIREMEN'S PENSION AND RELIEF FUND June 14, 1971 The regular meeting of the Board of Trustees of the Firemen's Pension and Relief Fund of Fayetteville, Arkansas, was held in the City Manager's Office in the City Administration Building on Monday, June 14, 1971, at 4:30 P.M. Present: Chairman Wesley M. Howe, Secretary LoVetta Moore, Treasurer Patrick J. Tobin, Fire Chief Charles McWhorter and Board Members: Carl Springston, Joe Fraley and Dean Harris. Absent: Paul Logue. The minutes of the last regular meeting on May 3, 1971, and a special meeting on May 10, 1971, copies of which had previously been distributed to each of the Board Members, were approved. The Secretary presented the Authorization Form to pay the May pensions and noted that Clarence W. Tune and L. Buri Skelton would receive the full amount of their retirement for the month of May and that Allen Strain's pension had been increased to $125.00. Mr. Fraley moved that the May disbursements be allowed. The motion was seconded by Mr. Springston, and upon roll call the following vote was recorded: "Aye", McWhorter, Springston, Fraley and Harris. • "Nay", None. There being four "Ayes" and no "Nays", the Chairman declared the motion passed. Chairman Howe asked if there were any questions regarding the Financial Statement for the period ended May 31, 1971, copies of which had previously been distributed to each of the Board Members. There were no questions. Fire Chief McWhorter stated that he had talked to the members of the Fire Department with regard to decreasing the 3% contribution to 2%. He reported that it is their wish to keep the contribution at 3% for the present time so that the amount in.the retirement fund will build up. NOTE: It is reflected in these minutes that Charles W. McWhorter assumed the position of Fire Chief effective June 14 and at that time automatically became a member of the Firemen's Pension Board. It is further noted that Lonnie Farrar was appointed Assistant Fire Chief effective June 21 and would automatically substitute for Chief McWhorter in his absence. 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 adjou rned. APPROVED: Howe; Chairman • ATTEST:/�A�(c(gQJ 16e�tiaa Moore, ecretary • MINUTES OF THE REGULAR MEETING BOARD OF TRUSTEES FIREMEN'S PENSION AND RELIEF FUND June 14, 1971 The regular meeting of the Board of Trustees of the Firemen's Pension and Relief Fund of Fayetteville, Arkansas, was held in the City Manager's Office in the City Administration Building on Monday, June 14, 1971, at 4:30 P.M. Present: Chairman Wesley M. Howe, Secretary LoVetta Moore, Treasurer Patrick J. Tobin, Fire Chief Charles McWhorter and Board Members: Carl Springston, Joe Fraley and Dean Harris. Absent: Paul Logue. The minutes of the last regular meeting on May 3, 1971, and a special meeting on May 10, 1971, copies of which had previously been distributed to each of the Board Members, were approved. The Secretary presented the Authorization Form to pay the May pensions and noted that Clarence W. Tune and L. Buri Skelton would receive the full amount of their retirement for the month of May and that Allen Strain's pension had been increased to $125.00. Mr. Fraley moved that the May disbursements be allowed. The motion was seconded by Mr. Springston, and upon roll call the following vote was recorded: "Aye", McWhorter, Springston, Fraley and Harris. • "Nay", None. There being four "Ayes" and no "Nays", the Chairman declared the motion passed. Chairman Howe asked if there were any questions regarding the Financial Statement for the period ended May 31, 1971, copies of which had previously been distributed to each of the Board Members. There were no questions. Fire Chief McWhorter stated that he had talked to the members of the Fire Department with regard to decreasing the 3% contribution to 2%. He reported that it is their wish to keep the contribution at 3% for the present time so that the amount in.the retirement fund will build up. NOTE: It is reflected in these minutes that Charles W. McWhorter assumed the position of Fire Chief effective June 14 and at that time automatically became a member of the Firemen's Pension Board. It is further noted that Lonnie Farrar was appointed Assistant Fire Chief effective June 21 and would automatically substitute for Chief McWhorter in his absence. 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 adjou rned. APPROVED: Howe; Chairman • ATTEST:/�A�(c(gQJ 16e�tiaa Moore, ecretary • FIRF PENSION Balance Sheet At May 31, 1971 ASSETS Cash in Bank $ 93761.48 Savings Account 51062.79 Investments 335,000.00 TOTAL ASSETS $349,824.27 LIABILITIES AND RESERVES Refundable Officers Contribution $ 24,611.13 Reserves for Retirement 325,213.14 TOTAL LIABILITIES $ RESERVES $349,824.27 • STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS For the Period January 1, 1971 to May 31, 1971 Cash Balance December 31, 1970 $ 13,992.71 Receipts: Property Tax $ 122709.39 Ambulance Service Payment 23.00 Interest 32823.72 Due from other funds 617.75 Officers Contribution 23511.71 TOTAL RECEIPTS $ 19,685.57 TOTAL AVAILABLE $ 33,678.28 Disbursements: Purchase of investments $ 53000.00 Pensions Paid 12,568.65 Refund to Officers Terminated 134.29 To other Funds 6,213.86 TOTAL DISBURSE`4E:NTS $ 23,916.80 CASH BALANCE, MAY 313 1971 $ 92761.48