HomeMy WebLinkAbout1972-05-01 Minutes• MINUTES OF MEETING OF FIREMEN'S PENSION
AND RELIEF FUND BOARD
MAY 1, 1972
4:30 P.M. DIRECTORS ROOM
Present: Chairman Donald L. Grimes, Treasurer Pat Tobin, Secretary
Helen Young, Fire Chief Charles McWhorter, Paul Logue, Howard Boudrey,
Dean Harris, and Harold Lee.
Minutes of the April 3, 1972 meeting had been previously distributed
to the board members and upon roll call the minutes were unanimously
approved as being accurate.
Fire Chief McWhorter presented certificate and application for Leonard
Bolain whose retirement is effective May 1, 1972. Paul Logue moved that
Leonard Bolain's application be approved for pension payments in the
amount of $45.00 per month beginning in May, 1972. Fire Chief McWhorter
seconded the motion, Upon roll call the motion passed unanimously.
Treasurer Tobin presented pension authorization form for the month of
May. Paul Logue moved to approve the pension authorization form with
the addition of Leonard Bolain for a pension payment of $45.00. Dean
Harris seconded the motion. Upon roll call the motion passed unanimously.
• Treasurer Tobin presented the balance sheet at April 25, 1972 and the
statement of cash receipts and disbursements for the period January 1, 1972
to April 25, 1972. Howard Boudrey moved that Treasurer Tobin be authorized
to invest approximately $23,000 in certificates of deposit for two years
at six per cent, leaving a balance of approximately $5,000 in the fund.
Harold Lee seconded the motion. Upon roll call the motion passed
unanimously.
There being no further business Fire Chief McWhorter moved to adjourn and
Howard Boudrey seconded the motion. The motion passed unanimously whereupon
Chairman Grimes declared the meeting adjourned.
ATTEST:
elen young a
City Clerk
41
APPROVED: `
/ Dona
Chairman
CITY OF FAYETTEVILLE FIRE PENSION FUND
• BALANCE SHEET
AT APRIL 25, 1972
Assets
Cash In Bank . . . . . . . . . . . . . $ 16,486.99
Savings Account . . . . . . . . . . . . . . . . . 51417.67
Investments . . . . . . . . . . . . . . . . . . . 381,000.00
Total Assets . . . . . . . . . . . . . . . $402,904.66
Liabilities and Reserves
Officer Contributions . . . . . . . . . . . . . . $ 290295.94
Part -Time Firemen Contributions . . . . . . . . . 153.90
Reserve For Retirement . . . . . . . . . . . . . . 373,454.82
Total Liabilities and Reserves . . . . . . . . $402,904.66
STATEMENT OF CASH RECEIPTS $ DISBURSEMENTS
• FOR THE PERIOD JANUARY 1, 1972 TO APRIL 25, 1972
Cash Balance, January 1, 1972 . . . . . . . . . . . . $ 13,135.10
Receipts
Property Tax . . . . . . . . . $ 4,220.47
State Insurance Commission . . -0-
Ambulance Service Payment. . . 10.00
Interest . . . . . . . . . . . 11,190.17
Officer Contributions . . . . 2,713.97
Due From Other Funds - Payroll 227.28
Total
Receipts . .
. . . . . . . . . . . . . .
182361.89
Total
Available . .
. . . . . . . . . . . . . . $
31,496.99
Disbursements
Purchase Of Investments $ 5,000.00
Pensions Paid . . . . . . . . 102010.00
Total Disbursements . . . . . . . . . . . . . . 15,010.00
Cash Balance, April 25, 1972 . . . . . . . . . . . . $ 162486.99
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