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• 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