HomeMy WebLinkAbout1996-03-22 - Agendas - FinalFAYETTEVI LLE
E CITY OF FAYETTEVILLE, ARKANSAS TRACI PAUL, CITY CLERK
TO: Firemen's Pension Board Members
FROM: Traci Paul, City Clerk/Treasurer Tp
DATE: March 22, 1996
SUBJECT: Firemen's Pension Board Meeting
The next Firemen's Pension Board meeting is Thursday, March 28,
1996, at 11:00 a.m., in room 326 of City Hall. Attached, please
find a copy of the agenda for the upcoming meeting, the minutes
from the February 29 meeting, the pension list for April, 1996 and
a list of questions from Accouting Manager Marilyn Cramer regarding
the DROP plan.
Attachments
113 WEST MOUNTAIN 72701 501 5754323
•
AGENDA
FIREMEN'S PENSION AND RELIEF BOARD
March 28, 1996
11:00 a.m.
_City Hall Room 326
1. Approval of the minutes of February 29, 1996.
2. Approval of Pension List for April, 1996.
3. Old Business
4. New Business
A. Investment Report, Merrill Lynch
5. Adjournment
MINUTES OF A MEETING OF THE FIRE PENSION BOARD
A meeting of the Fayetteville Firemen's Pension and Relief Board
was held on Thursday, February 29, 1996, at 11:00 a.m. in room
326 of the City Administration Building, 113 W. Mountain,
Fayetteville, Arkansas.
PRESENT: Mayor Fred Hanna, Ron Wood, Howard Boudrey, Darrell
Judy, Pete Reagan, Marion Doss and City Clerk/Treasurer
Traci Paul
CALL TO ORDER
Mayor Hanna called the meeting to order.
MINUTES
Reagan, seconded by Boudrey, made a motion to approve the minutes
of the January 25, 1996, regular meeting. The motion passed
unanimously.
PENSION LIST
Paul reported there were no changes in the pension list.
Reagan, seconded by Doss, made a motion to approve the March
pension list. The motion passed unanimously.
OLD BUSINESS
Payment to Greg Jones
Paul stated a check was sent to Greg Jones for $581.97 on
February 1, 1996 for services on the DROP plan.
DROP Rules & Regulations
Paul stated a copy of the Rules and Regulations for the
Fayetteville Firemen's DROP and a copy of the resolution electing
participation in the DROP was sent to Cathyrn Hinshaw. Hinshaw
called to report they looked good.
Pension Affidavits
Paul stated two affidavits are still missing, Floyd Carl's and
Roger Lewis's. Their March pension checks will be held. They
will be notified by letter of this action. It was noted that
holding Roger Lewis's check would also affect Marvie Lewis, who
has returned her affidavit. Paul stated she would send Marvie
Lewis a letter explaining the situation if Roger Lewis does not
submit his affidavit before the March checks go out.
•
NEW BUSINESS
February 29, 1996
Charles Urban - Investment Suggestions
Mayor Hanna stated Charles Urban has expressed interest in
becoming involved in the City's financial business and asked the
Board if they would like to have Urban look over the pension plan
and get some ideas from him about the investments. Urban has the
reputation of being an expert in this field and is appreciative
of the fire departments work, which he experienced personally
when his nearly completed new home caught fire not long ago. The
plan seems to be doing well, but Urban may have some good ideas.
Reagan suggested showing Urban the year-end report and the
investment policy.
DROP Applications
In answer to a question from Mayor Hanna, Reagan stated the Board
needs to act on the DROP applications. A vote by the Board to
accept the applications will officially add the applicants to the
retiree list. Reagan asked Paul to somehow designate on the
retiree list who is active.
Doss suggested having DROP next to their names.
Reagan stated the only accounting that needs to be done is
knowing how much they have in it on a separate ledger. According
to the DROP rules this must be given every month.
Doss stated instead of getting a check, they would get a notice
every month of what has been credited to their account.
Boudrey, seconded by Reagan, moved to accept the DROP applicants.
The motion to accept Kenneth Miller and Thomas Warford to the
DROP plan passed unanimously.
Benefit Increase Discussion
Marion Doss stated he'd received a call from Bill Morris after
the last benefit increase was given. Morris pointed out he was
getting $45 for his 20 years of service where some are getting
$50 and $55. He gets $45 for his 20 years service and $5 for
each year over, which gives him $60. Doss referred to a list
he'd provided the Board and noted that using $55 as a base
payment for every retiree with 20 years service would make i� 20
more equitable; and then for pension if they spent over 25 years,
$5 for each year, which would raise Morris from $60 to $70, $55
for twenty years service plus $15 for three additional years.
Every volunteer with twenty years service would get $55. The
Springdale fire department pays their retired volunteers $100 a
month. They pay retired full -pay employees 65%.
•
February 29, 1996
Boudrey stated the Board needs to look into an increase for full -
pay employees. It has been probably twelve years since they have
received an increase other than what is mandated.
In answer to a question from Mayor Hanna, Doss stated the Pension
Board would have to vote on any increases. Increases would have
to be sent to the Pension Review Board in Little Rock for
approval, which would take awhile. The Board must first decide
what it wants to do.
Wood agreed that Bill Morris has a good point.
Reagan commented that whenever you deal with a benefit increase,
you must have an actuary done to see if the fund can handle it.
This is expensive and should be done at one time for all
increases under consideration, not one at a time.
In answer to a question from Doss, Boudrey suggested the retirees
should be at 65% across the board.
The Board discussed the reasons Springdale pays their retirees
65%. There was some concern expressed regarding people retiring
on disability unnecessarily.
Boudrey stated it should all be sent in as discussed.
Reagan stated the Board needs to turn in a dollar amount so the
actuary can be figured. This could be done and ready for next
month. We may need to get with Richard and have him run some
figures. The request could be worded as to get a reply from the
actuary telling how much could be afforded if the requested
amount could not be afforded.
Doss stated the request would need to be worded where every
retiree draws at least 65% of his base rate at retirement.
Reagan asked if it would be. possible to find out when benefit
increases were given. Reagan stated the Board has given three
increases that were not mandated.
Boudrey stated it has been 12 years since the last increase.
Paul stated it would be possible to get the base rate figures.
Paul asked if increases for the firemen would be handled the same
as for policemen. She explained that the Police Pension Board
just applied for an increase. The Police Pension Board approved
a resolution requesting a certain percentage and excluding
certain people. They did not get the base salaries first; they
just sent in the request. The actuaries will either figure it
• can be done or not. It was left to the actuaries to make the
decision.
a.a
•
•
February 29, 1996
Doss wondered what would happen if someone would draw more than
what they made when working.
Paul stated it was her understanding that a person would not be
eligible for any unmandated increases if making over 100%.
Reagan suggested the Board write a resolution that would state a
minimum of 65% excluding extra years of service, 65%'of base
salary.
In answer to a question from Doss, Paul said she could come up
with base salaries and dates of raises given in the past.
Doss expressed his support for
retirees. He stated it is not
We've already had one actuary;
say we can or cannot, for such
an increase for part -paid
much money and is more fair.
they might just look at that and
a small amount.
In answer to a question from Reagan, Curtis Williams, Merrill
Lynch, stated there would have to be an actuary done for a
benefit increase and the rate used to be $750 to see if a
proposal would work. For $1,250, they would run two or three
scenarios to see what might work, but must be given the numbers
to work with.
Doss stated that might be worthwhile for the increase to the full
paid we are talking about. But for volunteers, which amounted to
a total of $70 a month for ten people, just a small amount, he
wondered if they could use the last actuary done to see if this
would work or would they have to do a separate one.
Curtis Williams stated it would not hurt to ask them but he did
not know if they had the authority to do it this way or not or
even if they would if they could. They would not want the
responsibility of jeopardizing the soundness of the Board and
their liability.
Doss stated a letter could be written requesting this increase
and Cathyrn could be called and asked if this would fly without
doing the actuary. If not, we could send it with the rest of it.
Reagan stated it should all be on the same request. Others
agreed.
Curtis Williams stated if both were asked as one request, as a
package, we want to grant this to these people and this to these
people, then maybe we could back down and say we want to leave
the $70 for these people and try $60 for these people and pay the
$1,250.
In answer to a question from Wood, Reagan agreed that the pension
laws state we cannot pay more than 100% of a base salary.
•
February 29, 1996
Investment Report
Curtis Williams, Merrill Lynch, recapped performance. The totals
of the portfolio ended the year for the first month are all up.
Looking at the performance indexes, the Dow Jones Industrial
Average is up 5.65%, S&P 500 up 3.47%. Long-term treasury bonds
are actually down for the first month. High-grade corporate
bonds are up .12%. In comparison, New Mexico Capital Management
is up 1.1%, the income account is up 1.54% and Keystone is up
3.26%.
Williams explained he would be speaking about international
investing. He stated one analyst who runs a far east portfolio
made a compelling argument for the opportunities in the Pacific
Rim. Merrill Lynch has a series of portfolios based on a long-
term investment strategy called beating the Dow. The concept is
that you buy the top ten yielding stocks in the Dow Jones
industrial average and you hold them for one year. After that
you keep the ones that are still in the top ten dividend yield.
The rationale is the stock's dividend yields are high because the
prices are low. The dividend hasn't changed, the price of the
stock has gone down making the dividend look higher. You are
buying a stock when it is down and no one wants it. When it is
no longer a top ten yielding stock, you sell it. It is not a
managed situation from the standpoint of a mutual fund. It is
cut and dried.
Referring to a handout, Williams stated Merrill Lynch has found
this strategy holds true in foreign indexes as well. The
strategy has worked better than the markets themselves. It is a
way to invest internationally without hiring an international
manager. It is the essence of value management. You are buying
stocks when they are down and selling when up with no subjective
input in this at all. It works over time.
Merrill Lynch offers these portfolios once per quarter. Williams
explained he suggests committing a dollar amount to each of these
four strategies, one U.S. and three global, which balance each
other. He stated there will be dollar cost averaging in each of
these markets over a one-year period of time. At the end of that
year, we will take money away from the winners and give it to the
losers. The dollar amounts each year will be leveled back.
Looking at the returns you see good years are generally followed
by mediocre or bad years. Bad years are generally followed by
good years. A measurable amount of money should be invested.
The optimum percentage to achieve the highest rate of return with
the lowest volatility is 40%. We are not recommending 40%. We
are thinking of working up to 20% to 25% over a period of years.
•
•
February 29, 1996
Initially, we would like to put $75,000 per program per quarter.
At the end of the year it would give roughly $1 million in
international stocks. We would hold off at that point. That
would give us roughly 10% of the portfolio in international
equities. It is not enough to get the full benefit but, is
enough to measure the good or bad impact.
In answer to a question from Reagan, Williams stated we are over
allocated at this point in the fixed income account. The
$225,000 initially needed is available in the income account. He
noted we cannot invest in the Hang Seng now as it is closed now
and will not open until May. The remainder would come from New
Mexico. As the income account grows this year, we will bring it
back down. New Mexico will be told to not change the portfolio
but, as it is repositioned throughout the year, to be aware that
a couple hundred thousand dollars will need to be taken out per
quarter. We are heavily overloaded in value. We will be
maintaining the same dollar amount in a value -style investing; we
are simply at this point changing management style.
In answer to another question from Reagan, Curtis replied he is
recommending having $1 million invested in international accounts
in 12 months. If we put $75,000 program per quarter, keeping in
mind $75,000 will be going back into U.S. markets and we are not
counting that toward the international markets. The reason we
want to do this is because these strategies balance each other
very well. That $225,000 going into the other three strategies
at the end of one year would give us $1 million. We can stop any
time we want to, but what we'd like to do is get an amount that
will be significantly measurable. As the Board becomes
comfortable with the idea of global investments, we can move more
into programs such as this.
Williams assured Reagan this would be reported on monthly. The
three foreign strategies would be tracked separately, their
performance separately and overall.
In answer to a question on volatility, Williams said all the
international markets with the possible exception of the British
market, are more volatile than ours. The level of growth is also
greater. All three of these indexes over the last 50 years have
outperformed our index over time. It is because of this
volatility, which could be understood as risk, that 40% is the
optimum recommended amount and not higher. We are talking about
10%. We are easing incremently, rather than all at once.
Reagan stated it is an excellent idea but would like to track it
monthly.
•
February 29, 1996
Williams stated we are not only doing this for performance, we
are looking for diversity of direction so we will also measure
the volatility of these markets in relation to each other. We
will not be able to pick up the Hang Seng until May.
Reagan, seconded by Wood, made a motion to invest $75,000 per
quarter per strategy, not to exceed $1 million contribution for
this year for the international side. The motion passed
unanimously.
Williams requested having a document to New Mexico advising them
to just be raising cash. There is not need for them to alter
the portfolio at this point. Over the next three quarters they
need to raise a few hundred thousand per quarter. We just need a
broadly worded document advising them to raise cash as
instructed. There does not need to be an exact dollar amount on
it. Part will be taken out of fixed income, but the growth of
the fixed income account will have impact on how much will have
to be taken. We do not want to get out of balance. We do not
want to take from Keystone as that is growth and we just
established that account. So it will come from fixed income and
New Mexico. The percentages will depend on how those two
portfolios perform.
In answer to a question from Reagan, Williams stated the document
must come from the Board. Williams offered to assist Paul with
the letter.
Doss, seconded by Boudrey, made a motion to have Paul draft a
letter to New Mexico Capital. The motion passed unanimously.
There being no further business, Mayor Hanna adjourned the
meeting at 12:05 p.m.
fiREMEN'S RELIEF AND PENSION FUND
APRIL 1996
TRACI PAUL TREASURER
•A_ THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE
MONTH OF APRIL 1996. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE
PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED.
EMP# NAME
43 BAIRD, RICHARD H.
2 BLACKARD, PAUL
63 BOLAIN, ANN
44 BOUDREY, BETTY MRS.
45 BOUDREY, HOWARD
49 BOUDREY, JACK
4 CARL, FLOYD JR
5 CASELMAN, ARTHUR
57 CATE, ROY
6 CHRISTIE, ARNOLD
7 COLE, EVERETT
8 COUNTS, WAYNE
61 DAVIS, BEULAH F.
10 DEARING, EMMA MRS.
11 FARRAR, ALONZO
38 FRALEY JOSEPH G.
33 HARRIS, BILL C.
34 HARRIS, JAMES E.
64 JORDAN, CHARLIE
47 JUDY, DARRELL
37 KING, ARNOLD D.
54 KING, ARVIL
12 LANE, HOPE MRS
13 LAYER, MERLIN
14 LEE, HAROLD
51 LEWIS, CHARLES
60 LEWIS, MARVIE
55 LEWIS, ROGER
40 LOGUE, PAUL D.
50 MASON, LARRY
39 MC ARTHUR, RONALD A.
35 MC CHRISTIAN, DWAYNE
15 MC WHORTER, CHARLES
29 MILLER, DONALD
42 MOORE, JAMES H.
17 MORRIS, WILKIE MRS.
16 MORRIS, WILLIAM H.
62 MORRISON, ELIENE
48 MULLENS, DENNIS W.
58 OSBURN, EDWARD
46 OSBURN, TROY
53 POAGE, LARRY
20 POLLY, GRACE A. MRS.
22 REED, JOE
30 SCHADER, EARVEL
41 SCHADER, TROY
23 SKELTON, BURL L.
24 SKELTON, LEE
56 SKELTON, ROY
36 SPRINGSTON, CARL
25 STOUT, ORVILLE
27 TUNE, MILDRED MRS.
GROSS FED.TAX
916.20 100.00
55.00
55.00
1,266.21 180.00
1,066.66
837 68 287.68
50.00
75.00
909.50
50.00
375.00 32.50
55.00
377.50
50.00
707.84
953.38 100.00
55.00
55.00
1,192.17
837 68
828.42 100.00
1,131.00 130.00
50.00
417.50
55.00
837.68
439.16
439.17
1,469.38 175.00
829.35 29.35
891 62 100.00
55.00 30.00
885.14 50.00
863.01 125.00
55.00
50.00
60.00
70.00
1,114.11
1,284.63 160.00
965.81 65.81
1,201.98 20000
50.00
55.00
915.78
783.74 20.00
692.50 42.50
390.00
1,626.02 126.02
609.88
590 36 50.00
70.00
ST. TAX
50.00
10.00
10.00
20.00
30.00
50.00
NET
816.20
55.00
55.00
1,086.21
1,066.66
500.00
50.00
75.00
909,50
50.00
342.50
55.00
377 50
50.00
707,84
843.38
55.00
55.00
1,192.17
837:68
718.42
1,001.00
50.00
41750
55.00
837.68
439.16
439.17
1,274.38
800.00
791 62
25.00
835.14
738.01
55.00
50.00
60.00
70.00
1,114.11
1,124.63
900.00
971 98
50.00
55.00
915.78
763.74
650.00
390.00
1450.00
609 88
540.36
70.00
26 TUNE, BILLIE SUE
28 WATTS, DONALD
59 WATTS, WAYNE
52 WRIGHT, RANDALL
70.00
400.00
921.17
877 68
96.17
150.00
70.00
400.00
825.00
727.68
31,984.91 2,350.03 170.00 29,464 88
WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT
THE SERVICES OR SUPPLIES FURNISHED, AS THE CASE MAY BE, WERE ACTUALLY
RENDERED OR FURNISHED; AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES.
CHAIRMAN AND PRESIDENT
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON) )SS
• SWORN TO AND SUBSCRIBED BEFORE ME THIS/pf/DAY OF April , 1996.
7/
NO Y PUBLIC
MY COMMISSION EXPIRES: -/ - aoos
FAYETTEVILLE
THE CRY OF FAYETTEVILLE. ARKANSAS
c
DEPARTMENTAL CORRESPONDENCE
To:
From.
Date:
Subject:
Ben Mayes, Administrative Services Director
Marilyn J. Cramer, Accounting Manager
March 21, 1996
Review of Fire Pension DROP Plan
After reading the Fayetteville Firemen's Deferred Retirement Option Plan which
on January 25, 1996, I have several questions and/or comments.
1. Who will administer the Plan? Article III indicates that it will be
by the "staff of the "Fund".
2. When will interest be credited to the individual DROP accounts?
3. How will the average annual balance, upon which the interest will be based, be
computed?
4. How will the rate of return of the investment portfolio of the Fund be calculated?
was adopted
administered
5. Who will prepare the annual reports for each member? (The Plan indicates that
these reports will be prepared within sixty days following the crediting of interest
to the member's account. Article V indicates that interest cannot be credited until
the actuarial assumed interest rate as certified by the actuary for the Fund is
known. Unless a separate determination is obtained for this purpose, that
information is not available, for the prior calendar year, until late April at the
earliest.)
6. For ease in record keeping, participation in the Plan should begin at the beginning
of a calendar month.
How will distributions be reported to the IRS for DROP participants?
8. Who will prepare and distribute the monthly notice to each participant that was
referred to in the February 29, 1996 minutes of the Fire Pension Board and what
information will be reported on this notice?
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FIREMEN'S RELIEF AND PENSION FUND
MARCH 1996
TRACI PAUL, TREASURER
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THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE
MONTH OF MARCH 1996. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE
PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED.
EMP# NAME GROSS FED. TAX ST. TAX NET
3-1043 BAIRD, RICHARD H. 17782 .0-0 916.20 100.00816.20
,1 � �:?1;r 2 BLACKARD, PAUIKzo9' .5°90.1( 1 55.00 L-1;, to e-1- iS - 55,00
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5 -I - IN
77$3 BOLA, ANN �Nal)
oa3'sP�^ 55.00 415f- ` • ' 55,00
q-,-2444 BOUDREY, BETTY MRS. 03ILLY.1,266.216g/452•n6.212.3'O, 1,200.00
9-40'-'645 BOUDREY, HOWARD . 1,066.66 2, Obi •3Z 2,2. 1,066.66
1-ZggIg49BOUDREY, JACK i (p75,a• 3(, 837,68 287.68 .50.00 500.00
I (r3-(07 4 CARL, FLOYD JR'Cpe+'+'P°- Yo' 50.00 359-9 6 -C -I'7 rt -,--0^•50,00
(' -39-:1 Z5 CASELMAN, ARTHURI'Zyy$•3 'QP. ----909
5.00 :lo -5-77- - 10%7-
0Z4`1SS, 75.00
L L 5-3-8257 CATE, ROY 20.�o�, :. .-- 909.50. ISicif-o .. 909.50
:41.04-g 6 CHRISTIE, 4RNOLEI .`.,,,?J '° ' 50;00 35w 50.00
'- -I-47407 COLE EVERETT ';SCO 375.00 3;;50 342.50
10-31-7E8 COUNTS, WAYNE A 4561. 55.00r�-b • Zour,,.16,4-1-ave• 55.00 II�'7brnxv.J
1 41°- t- 1061 DAVIS, BEULAH F.01, Rfly 377.50 355.E 377 50
`
t24-4410 DEARING, EMMA MR 350-0 50.00 ...pis oan- 50.00
.2-29-74 •11:FARRAR7ALONZ019i5. ?'`Q 707:84 Soi.@4- 3 -I --go 707.84
5-ZO-Sy 38 FRALEY JOSEPI G.ZZtip . _ 953.38178/0.75100.00 10.00 843.38
s_rrgo '33 HARRIS;:BILL C. Zun . LgSvo 55.00 55.00
-1
6,cin 34 HARRIS, JAMES E` . 3r5.oV ty 5$ 55.00 55.00
q -Y04 64 JORDAN, CHARLIE a,zaY.33 • 1,192.17 1,192.17
S-16-847 JUDY, DARRELLL' 1(0 75, -ye, 837.68 837.68
,?_44137 KING, ARNOLD D. 455 /4�556,,27 828.42ti .100.00 10.00 718.42
5 -1•-8`154 KING, ARVIL / 7°87 1 131 00 130 CO 1,001.00 • t
itilTita 12 LANE, HOPE MR `Ffl'-i I •S° P -I, 350-D, •• 1 'e ^'°1;qr 50`.00
" °' 7-15,74) 10 114 LEE, HARODK 42.61- C 13 LAYER, MERLIN„Li_.60) 4UW195500 s-5 74 n %0#• P°- 455.00
le:'/ -1 LI
/40_8451 LEWIS, CHARLES 837.681/_!01,5 3(0 837.68
0 LEWIS, MARVIE 439.16 439.16
/241(9-23_..._,5 5LEWIS, ROGER() 756. 439.17 439.17
�j - I - 40 LOGUE, PAUL D. Z 8gg^S 1//,,4$469.38 3.(0••175.00 20.00 1,274.38
.35 29 35
y _ 12g 539 MC ARTHUR,g 50 MASON, RONALD A./11185.7-,891.2 100 00 890.62
a. -,S -8L35 MC CHRISTIAN, DWAYNE _y,Zk55.00 ZOPA'•30.00'S2 , 25.00
/-r lo' 7715 MC WHORTER, CHARLES 3 #0,73 885.14Y3 f'H 50.00 '1- ST "1 rri•"'•• 835.14
g-Zt-81 29 MILLER, DONALD /3ZCO.0/ 863.01 125 00 738.01
2725:26 42 MOORE JAMES H. ,cro 44:K700 55.00
+� 50 00 o•0 .
�8-/,LS- 17 MORRIS, WILKIE MRS'. �0o i" � -- 50.00
ti -Z-1,4.1.6 MORRIS, WILLIAM 15.0-0+,2 , _50.0015'o-0
- 6` 0. PPL' °I)-.1• 60.00
1 1042 MORRISON, ELIENE 6 Id ea° 70.00 z5�• p P -4 -el-' 70.00
`a<,) 7-D.726 48 MULLENS, DENNIS W. 1,114;11 a26...15 1,114.11
!" 9-2/0.4058 OSBURN, EDWARD AL/09•a 5 1,284.63 z-ir 160.00 1,124.63
5-1-- 8846 OSBURN, TROY I o1 31 Z 965 81 65.81 900.00 41/I- FPB 3.1
c2.Q629 53 POAGE, LARRY . ' ✓ Q ,201.98 200.00 30.00 971.98
la -r Z POLLY, GRACE A. MRS:An5e/ 50.00-350-0 50.00
-7 r + N 3°-732LREED, JOE✓.5•0OR5•Lr1/2 °< 55.00 101/". 95617 55.00
--! ' y3-1=89.530 SCHADER, EARVEL 24118./331Sk915.78. 915.78
q-8-85 41 SCHADER, TROY /532,75 , 783.74 20.00 763.74
`1-5-7J 23 SKELTON, BURL L. 945.0-0 z4-'06'692.50 42.50 650.00
LI -8.5 (e 24 SKELTON, LEE L'a5?Tjt : _ • -0 390.00,'•''<= 390.00
a-/$--1056 SKELTON; ROY ,29o9•`s5 1,626.02 126.02' 50.00 1,450.00
S -I-1 _36 SPRINGSTON, CARL 81 y,71.e 609.88 'Ho9.88 523-1(0609.88
::,'1 ` S 25_STOUTI ORVILLE 78v7Z. 590.36 zC qt». 50.00 540.36
37-e . \ 27 TUNE, MM LD ..a ,s Sa /,o qo 70.00 P°tii cmc. 70.00
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k �.1\
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95
3-7-44 26
8t') -9I 59
.(.q -Z I-98 52
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SS
TUNE, BILUE SUE' Pei 4
WATTS, DONALD 400.00
WATTS, WAYNE /$/9•°'0
WRIGHT, RANDALL 16 75-3
70.00
400.00
921.17.
877.68
ioom-u•
96.17
150.00
70.00
400.00
825.00
727.68
31,984.91 2,236.24 170 CO 29,578.67
WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT
THE SERVICES OR SUPPLIES FURNISHED, AS THE CASE MAY BE, WERE ACTUALLY
RENDERED OR FURNISHED; AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BY LAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES.
SECRETARY CHAIRMAN AND PRESIDENT
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON) )SS
SWORN TO AND SUBSCRIBED BEFORE ME THIS _DAY OF , 1996.
NOTARY PUBLIC
MY COMMISSION EXPIRES:
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DEPARTIM: —
I hereby apply for ..... .. daysleave to be rhturd a�auut my '
❑ ANNUAL VACATION ❑ -..._ .
"~l: '. ItBm! dt? arxtor Ma* patient and daa.d ttertmerft
U .sia leave oou+a eo more dull 9 days 8SP Y 4e
Demi*'• IAC.. .A _ (iifi .. ,.. ...
Y. 0 SICK LPAVE
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