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HomeMy WebLinkAbout2004-05-27 - Agendas - Final• • Firemen's Pension and Relief Fund Meeting Agenda May 27, 2004 A meeting of the Fayetteville Firemen's Pension and Relief Fund will be held at 11:00 a.m. on May 27, 2004 in Room 326 of the City Administration Building. 1. Approval of the Minutes: • April 29, 2004 2. Approval of the Pension List: • June 2004 Pension List 3. Longer Investments: • Report 4. Old Business: • Decrease of Benefits for Volunteer Firefighter's Widows 5. New Business: • Danny Farrar add to the DROP plan effective May 1, 2004 • Budget Report for 03/31/04 0 0 0 is c LL to- e Tu -0 c d c 0 IA c d a Jac R E IL 4, d T as li Non 0 d co H c 0 0 .2 m c 0 0 2 0 ao c c O 4) Mayor Coody Marion Doss Danny Farrar Ronnie Wood Sondra Smith 0 d 0 2 Marion Doss Robert Johnson Ronnie Wood Sondra Smith (11 O 5 c O 0 2 T O0 1 O V T d 2 Marion Doss C5 d LL T c 0 0 a 0 O t ce Ronnie Wood 1 r •0 a co t- 7. c O 0 2 m c O 2 0 C c 0 0 w z,s• 0 O O V a 2 Marion Doss Danny Farrar V Robert Johnson c R m 0 2 d a Sondra Smith Gf a co Motion To: c O 2 0 0 CO Mayor Coody Marion Doss Danny Farrar Robert Johnson c to co a Ronnie Wood Sondra Smith v 0 c c O 4 N 0 G. c O' co IL c 0 Robert Johnson \\\ co to W a Sondra Smith 1- c O 0 2 m c O O 2 c 0 0 0 y 0 0 0 V T o 2 Marion Doss Danny Farrar Robert Johnson c co 0 to0 ct M d a Ronnie Wood Sondra Smith Q 2 m c O 2 0 0 m N 00 v 0 CV 2 Marion Doss 1. c c R 0 Robert Johnson 0 Y a Ronnie Wood Sondra Smith Fire Pension Minutes April 29, 2004 Pagel of Firemen's Pension and Relief Fund Meeting Minutes April 29, 2004 A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees was held at 11:00 a.m. on April 29, 2004 in Room 326 of the City Administration Building. Present: Pete Reagan, Robert Johnson, Ronnie Wood, Mayor Coody, City Clerk Sondra Smith, City Attorney Kit Williams. The meeting was called to order by Mayor Coody. Approval of the Minutes: Pete Reagan moved to approve the minutes. Ronnie Wood seconded the motion. The motion passed 5-0. Marion Doss and Danny Farrar were absent. Approval of the Pension List: • Pete Reagan: Eddie Bachman has been added from DROP to retirement status on this pension report. • Pete Reagan moved to approve the Pension List. Robert Johnson seconded the motion. The motion passed 5-0. Marion Doss and Danny Farrar were absent. Longer Investments: Elaine Longer: The earnings are coming through better than expected across the board, they all look good. The economic growth rate is still coming through real strong, 4.2% for the first quarter, that is subject to two more revisions so I think it will probably be adjusted higher before it is over. We have had three strong quarters back to back of economic growth that is being manifested now into really strong earnings growth. The first of April when we received the unemployment number for March we saw for the first time a real strong employment growth. On page six you will see the current portfolio appraisal as of April 25, 2004. On page seven you will see that stocks are about 54.8% of portfolio and your foreign stocks are about 4%. Your investment policy has an upper limit of 50%, with stocks making up roughly 50% of the portfolio and stock component going up about 30%, the bonds were up only about 2% or 3% so that 50% is 65% if you just sit there and let it appreciate. We have been pulling from the stock side and investing it in bonds. We are working to get back into that 50% range. If you want us to go immediately back to 50%u we can do that this afternoon or we can continue to pull back into that range over the next couple of months. - Pete Reagan: I would think that would be the most advisable, I do not want to tell you what to buy and sell. I think you have our best interest at heart. I think as long as we are in the ball park. Fire Pension Minutes April 29, 2004 Page 2 of 3 Elaine Longer: 1 think we are going to get an even better opportumty to buy bonds. On page 11 the ending market value is about $10.2 million. The annual income which is just the income that comes in dividends and interest income is $309,000 which equates to a 3.3% yield. You have the equivalent of a five year treasury yield on a portfolio that has a 55% growth component. That is a real good balance. You do have the income yield to support the portfolio in a negative market environment; you still have a very good strong growth component. Page 12 we have summarized the realized gains year to date and then the net income. The realized gains year to date is about $118,000 as we try to prune some of your stock positions and get you back into policy constraints. You do have strong realized gains year to date. Page 13 through Page 15 is a summary of your bonds; everything is investment grade, very strong ratings on your corporate bonds, government bonds and government agency bonds. We don't have much in terms of what we call risk or premature reinvestment risk because most of your reinvestments have been done already. Your income yield that was quoted at 3.3% is very stable at this point. You are really well positioned to be able to take advantage of rising mterest rates Page 16 is a summary of your bond portfolio, 12.4% of the portfolio is mvested in bonds that mature within 3 years, that is as good as cash as far as we are concerned because we can sell those bonds if we get a great opportunity in here with interest rates spiking up because we get a couple of more good unemployment numbers, then we have the opportunity to pull up on these short maturities and pack into those higher yields and lengthen maturities. We have been putting everything from the end of last year that we had to invest in bonds into shorter term maturities to maintain our flexibility but to be able to also get a higher income yield than what you get on money market funds. Page 17 shows your larger holdings in the stock portfolio. You are well diversified in your stock portfolio. The next report takes the stocks that are listed on your first report and shows you how they are segmented in terms of economic sector and industry weighing so you can see how we are structured and what industries we are emphasizing as opposed to others. Page 19, in the consumer area we are about 14%, we are slightly under weighted on consumer spending because we think as we lose some of the money that has come from refinancing a home we are going to see the consumer spending probably take a back seat to corporate capital spending. We have trimmed a little bit on the consumer side and we have invested more m the cyclical industry. Page 20 shows we are about an 18.4% rating on cyclical industry. We love the energy sector, 15.5%, you have the equivalent of a five year treasury bond yield on these energy companies, you have inflation protection, energy prices are staying higher longer than most people anticipated so the earnings numbers that were based on $28 a barrel oil are way too low for the energy companies This is an area that will continue to provide good value to the portfolio and it is a good stabilizer because you have the inflation protection and income yield. We are under weight on financials; we have been for some time that is an area that is most vulnerable to rising interest rates. We are over weighted on health care. Health care is starting to perform better. We are a little bit under weighted on technology. Page 23 shows your distributions that have taken place since August 2002 through March 31, 2004. This is all the distributions from inception to date which has been about $1.3 million, your contributions that have come in have been about $350,000 so the net distribution net of contributions has been about $1 million Page 24 shows the net investment return on the portfolio has been $1.3 million, even net of your distributions you have picked up about $300,000. This has been a year where the investment return on the portfolio has kept up with the distributions and then some In the equity category your total return has been about 22.6% and that compares to an S&P of 21.1%, S&P compounded dividends at about 24% and 21.5% on the DOW. Your equity mutual funds have delivered 1 1.5%; your fixed income components of your portfolio have delivered 10%, which is • • • Fire Pension Minutes April 29,2004 Page of an annualized return of 6%. The real estate investment trust that we own have returned 42.7% or annualized at 24.5%, cash 2.5%. Your total has grown by 14.3% that includes all of those asset classes and an annualized return of 8.6%. Old Business: Decrease of Benefits of Volunteer Firelighters Widows: Sondra Smith: I have enclosed copies of the letters that Denise Grizzle in Accounting sent to the widows of the volunteer firefighters and to Arkansas Police and Fire Pension Review Board. I have also sent a letter to the Arkansas Police and Fire Pension Review Board asking for an explanation on Act 1370. New Business: Election of Officers: Sondra Smith: We had two people nominated and one of the gentlemen that were nominated stated that he did not want to serve. Therefore Pete Reagan will be elected. I sent a letter to the pensioners to let them know. Danny Farrar may be moving to DROP, he is currently serving in the active position. Can we let him serve his term if he goes on DROP and then have him go through the election process the next time? He is the last person that can sign up for the DROP. Kit Williams: That is what I would do. He is not ineligible because once he leaves he becomes eligible. Kelly Skelton — Enrollment at NW Technical Institute, Sprinijdale in the LPN Prozram: Kit Williams: Ms. Skelton has requested to attend Northwest Arkansas Technical Institute to obtain a nursing degree. The board decided this would be an appropriate school for her to attend and continue to draw her pension funds. A copy of the budget was attached to the agenda. A copy of the Monitor was attached to the agenda A copy of the Persist was attached to the agenda. Kit Williams. I still have not heard anything from Ashland Management yet. I wrote them in December and they have not responded. Do you want me to send them another letter? Pete Reagan: I think we should hold off until we receive something from them. Meeting Adjourned at 11:35 a.m. FIREMEN'S RELIEF AND PENSION June 2004 TjLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE M I H OF JUNE. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED. DATE OF EMP# RETIREMENT NAME • • 79 177 74 2 63 68 44 45 49 4 5 57 6 8 77 11 38 170 92 34 70 93 86 64 76 37 54 12 13 173 14 51 40 50 39 35 15 29 73 42 176 16 62 48 46 81 53 22 30 172 41 83 66 11/99 ARMSTRONG (DILL), PAMELA 4/04 BACHMAN, EDDIE 3/86 BAIRD, JULIA 3/75 BLACKARD, PAUL 5/72 BOLAIN, ANN 7/99 BONADUCE, MICHAEL 9/86 BOUDREY, BETTY MRS. 9/86 BOUDREY, HOWARD 7/88 BOUDREY, JACK 6/67 CARL, FLOYD JR 5/72 CASELMAN, ARTHUR 5/90 CATE, ROY 4/68 CHRISTIE, ARNOLD 10/76 COUNTS, WAYNE 11/99 DILL,GARY JOHN 2/76 FARRAR,ALONZO 5/84 FRALEY, JOSEPH G. 5/03 FREEDLE, LARRY 03/02 GAGE,TOMMY 6/79 HARRIS, JAMES E. 11/99 HARRIS, MARY RUTH 06/02 JENKINS, JOHN 07/01 JOHNSON,ROBERT 4/95 JORDAN, CHARLIE 5/88 JUDY, JAN 3/84 KING, ARNOLD D. 5/89 KING, ARVIL 3/60 LANE, HOPE MRS 10/67 LAYER, MERLIN 12/19 LEDBETTER, DENNIS 7/74 LEE, HAROLD 10/88 LEWIS, CHARLES 9/85 LOGUE, PAUL D. 9/88 MASON, LARRY 4/85 MC ARTHUR, RONALD A. 2/82 MC CHRISTIAN, DWAYNE 4/77 MC WHORTER, CHARLES 8/81 MILLER, DONALD 2/00 MILLER,KENNETH 2/86 MOORE, JAMES H. 4/04 MORRIS, DIXIE E. 4/64 MORRIS, WILLIAM H. (DECEASED) 10/68 MORRISON, ELIENE 7/88 MULLENS, DENNIS W. 5/88 OSBURN, TROY 02/01 PHILLIPS,LARRY 2/89 POAGE, LARRY 4/73 REED, JOE 3/81 SCHADER, EARVEL (DECEASED) 12/03 SCHADER, MADGE 9/85 SCHADER, TROY 03/01 SKELTON, KIMBERLY 8/98 SKELTON, PAULINE REGULAR Year To Date MO BENEFIT REG BENEFIT FED. TAX 1,708.68 2,468.23 1,698.63 103.00 56.65 2,817.19 2,335.20 1,969.35 1,553.05 103.00 123.60 1,686.21 103.00 103.00 1,708.69 941.52 1,666.62 3,597.65 2,447.63 103.00 56.65 3,372.15 2,897.04 - 2,144.36 1,553.05 1,434.98 1,612.98 56.65 430.03 3,559.06 103.00 1 553.05 2,703.63 1,537.61 1,653.07 103.00 1,257.90 1 229 21 2,997.48 103.00 72.10 82.40 2,065.51 1,790.61 2,606.36 2,211.99 103.00 1,306.45 1,437.45 1,147.60 401.70 8,543.40 2,46823 8,493.15 515.00 422.30 14,085.95 11,676.00 9,846.75 7,765.25 515.00 618.00 8,431.05 515.00 515.00 8,543.45 4,707.60 8,333.10 17,988.25 12,238.15 515.00 422.30 16,860.75 14,485.20 10,721.80 7,765.25 7,174.90 8,064.90 422.30 2,150.15 17,795.30 515.00 7,765 25 13,518.15 7,688.05 8,265.35 515.00 6,289.50 6,146.05 14,987.40 515.00 144.20 355.35 551.05 10,327.55 8,953.05 13,031.80 11,059.95 515.00 6,532.25 7,187.25 5,738.00 2,008.50 300.00 479.27 350.00 475.38 300.00 287.68 100.00 ST. TAX NET 100.00 119.82 145.00 50.00 50.00 200.00 15.00 500.00 100.00 226.00 50.00 700.00 200.00 500.00 100.00 200.00 50.00 265.00 35.00 130.00 50.00 575.00 173.00 75.00 25.00 325.00 75.00 137.61 25.00 150.00 50.00 150.00 125.00 25.00 325.00 75.00 200.00 300.00 57.00 125.00 125.00 38.00 100.00 25.00 25.00 1,308.68 1,869.14 1,203.63 103.00 56.65 2,341.81 1,985.20 1,969.35 1,215.37 163.00 123.60 1,686.21 103.00 103.00 1,608.69 941 52 1,451.62 2,997.65 2,171.63 103.00 56.65 2,472.15 2,297.04 2,144.36 1,303.05 1,134.98 1,432.98 56.65 430.03 2,811.06 103.00 1,453.05 2,303.63 1,375.00 1,453.07 103.00 1,107.90 1 079 21 2,597.48 103.00 72.10 0.00 82.40 2,065.51 1,552.61 2,606.36 1,811.99 103.00 0.00 1,306.45 1,380.45 997.60 251.70 DATE OF EMP# RETIREMENT NAME 82 03/01 36 5/76 90 03/02 165 12/02 65 3/66 27 3/71 71 1/00 28 7/68 88 01/02 52 9/88 DROP DATF 04/01/00 07/01/00 01/01/01 03/01/03 03/01/03 03/01/03 04/01/03 SKELTON,KELLY SPRINGSTON, CARL STOUT, IMOGENE W. TATE, RALPH TUNE, BILLIE SUE TUNE, MILDRED MRS. WARFORD,THOMAS WATTS, DONALD WOOD,RONNIE D WRIGHT, RANDALL DROP EMPLOYEES NAPIER,LONNIE REAGAN,PETE DOSS,MARION MAHAN, MARSHALL PIERCE, JOEY SHACKLEFORD, GLEN O'NEAL TEDDY REGULAR Year To Date MO BENEFIT REG BENEFIT FED. TAX ST. TAX 1,147.60 5,738.00 759.91 3,799.55 723.73 3,618.65 3,457.53 17,287.65 82.40 551.05 82.40 551.05 2,359.06 11,795.30 412.00 2,060.00 2,900.50 14,502.50 1,594.25 7,971.25 84396.35 413082.18 NET 1 147 60 70.00 17.00 672.91 723.73 300.00 100.00 3,057.53 82.40 82.40 300.00 2,059.06 412.00 800.00 200.00 1,900.50 200.00 25.00 1,369.25 9,352.94 2,042.82 73,000.59 NEW BENFFITS 3,316.32 3,332.75 5,068.25 3,843.23 3 437 82 3,437.82 3,884.43 NE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE #UST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF Y HE 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 ACKNOWLEDGEMENT STATE OF ARKANSAS ) AUNTY OF WASHINGTON) SWORN TO AND SUBSCRIBED BEFORE ME THIS CHAIRMAN AND PRESIDENT DAY OF 2003. NOTARY PUBLIC 'AY COMMISSION EXPIRES : 6810-9810-5315-00 YTD Column Difference YTD 413,082.18 413,082.18 0.00 • • • PR B. ARKANSAS FIRE & POLICE PENSION REVIEW BOARD P.O. DRAWER 34164 LITTLE ROCK, ARKANSAS 72203 TELEPHONE: (501) 682 - 1745 FAX: (501) 682 - 1751 email: info@lopfi-prb.com May 11, 2004 website: www.lopfi-prb.com Sondra Smith City of Fayetteville 113 West Mountain Fayetteville, AR 72701 Dear Ms. Smith: Enclosed please find the information you requested regarding Act 1370 of 2003. It applies to Arkansas Code 24-11-807 where as the benefits paid to a widow are under Arkansas Code 24-11-820. If you need additional information please contact our office and I will be glad to help. Sincerely, Denise Reed. Accounting Tech II RECEIVED • MAY 1 3 2004 CITY OF FAYETTEVILLE CITY CLERK'S OFFICE 24-11-807. Minimum payments generally - Proration upon insufficiency of fund - Supplemental pensions. (a) For volunteer firefighters, in no case shall the payment to any retired member be less than one hundred dollars ($100) per month, and the payment shall be made in accordance with the justice and equity of each case as determined by the board of trustees of the firemen's relief and pension fund. (b) Should the fund provided for m this subchapter be insufficient to make full payment of the amount of pensions to all persons entitled thereto, then the fund shall be prorated among those entitled by the proper authorities as may be deemed just and equitable. (c) The payment provided for in this section shall not be made until after the payment in full of all claims or demands against the fund arising or accruing under the provisions of § 24-11-819(c). (d) For the purpose of determining how to prorate benefits, the proration shall be considered just and equitable if: (1) The board of trustees pays the full niimmum benefit each month to all eligible beneficiaries until assets in the fund are depleted for the fiscal year, at which time all payments shall cease until revenues are received for the next fiscal year; or (2) The board of trustees decreases all payments to all eligible beneficiaries by an equal proportion for the fiscal year and does not allow the assets in the fund to become fully depleted. (e) In cities having a population of twenty thousand (20,000) or more, if the board of trustees of the firemen's relief and pension fund shall determine that the balances in the fund together with estimated income thereto will provide an amount sufficient to pay additional minimum pensions to volunteer firefighters entitled to the pensions. Then, by adoption of a resolution by majority vote of the full membership of the board of trustees, the board of trustees may provide for the payment of supplemental, additional minimum pensions in an amount not to exceed twenty-five dollars ($25.00) per month per retired volunteer firefighter, or such lesser amount as the board of trustees shall determine can be paid from fund balances and estimated income without jeopardizing or reducing other benefits payable from the fund. History. Acts 1921, No. 491, § 20; Pope's Dig., § 7756; Acts 1963, No. 524, § 1; 1971, No. 64, § 1; 1985, No. 338, § 1; A.S.A. 1947, § 19-2227; Acts 1993, No. 1197, § 5; 2003, No. 1370, § 1. • • • 24-11-820. Benefits - Death of active or retired member other than while employed outside delotment. (1) Whenever any member of a fire department of any city, town, or fire improvement district covered by this act shall have lost his or her life, except while actually performing work in gainful employment outside the fire department, or any retired member shall die, leaving a spouse, or children under the age of nineteen (19), then, upon satisfactory proof of those facts made to it, the board of trustees shall order and direct, in the case of volunteer or part -paid firefighters, that a monthly pension equal to the amount of the pension or refireinent pay attached to the rank of the member of the fire departinent. at the.tnne of.his or her death shall be paid for life to the spou'se, and the inontlily pension shall notbe lesalhan thiitjdollars ($30.00). (2) In the case of full -paid firefighters' classifications, a monthly pension shall be paid for life to the spouse in the amount of the pension received by the retired firefighter at the time of his or her death, or the amount of the pension to which the member would have been entitled on the day he or she died had he or she been retired, but in no event shall the benefit of the spouse be less than three hundred fifty dollars ($350) per month, regardless of whether the spouse has already been receiving pension payments, and regardless of whether the firefighter was on active duty or retired. (b)(i)(A) In addition to the monthly pension provided in subsection (a) of this section, the board of trustees may order and direct the payment of, in the case of volunteer or part -paid firefighters, the sum of twenty-five dollars ($25.00) per month for each child under nineteen (19) years of age who has not completed high school and, in the case of full -paid firefighters, the sum of one hundred twenty-five dollars ($125) per month for each child under nineteen (19) years of age who has not completed high school. (B) However, if the child enrolls in an institution of higher education after completing high school, the payments shall continue as long as the child is a full-time student, but in no instance beyond the child's twenty- thi>erthday. (2)(A) If there is no eligible spouse at the time of the member's death, then the total sums shall be paid to his or her children until they shall have reached nineteen (19) years of age or until the children have completed high school, whichever occurs first. (B) However, if a child enrolls in an institution of higher education after completing high school, the payments shall continue as long as the child is a full-time student, but in no instance beyond the child's twenty- third birthday. (3)(A) The sum total of the pension to be paid the spouse or the qualifying children of volunteer or part - paid firefighters shall not exceed one-half (1/2) of the salary attached to the rank the member held at the time of his or her death as an active member of a volunteer or part -paid fire department, nor shall it be less than thirty dollars ($30.00) per month. (B) However, the limit on the sum total amount under subdivision (b)(3)(A) of this section may be exceeded through benefit increases authorized under § 24-11-102. (4) If any spouse or child shall marry, he or she shall thereafter receive no further pension under this subchapter. However, if he or she is a surviving spouse of a firefighter who is killed while in the official performance of his or her duties, then that surviving spouse's benefits may be restored to the spouse whose benefits had been terminated before or after August 1, 1997, upon his or her application to and approval by the boaf trustees. (5) If any retired firefighter shall marry after his or her retirement, the surviving spouse may be entitled to a pension under this subchapter if: (A) He or she has been married to the firefighter for a period of at least five (5) years; (B) The board of trustees for the fund decides to extend this benefit for its members, and (C) The pension fund will be actuarially sound as determined by the actuary for the Arkansas Fire and Police Pension Review Board after this benefit increase is extended to members. (c)(1) In computing service required under this section for eligibility to participate in benefits, service shall be computed from the day the person from whom benefits are derived was duly appointed and enrolled in some fire department in the State of Arkansas as a firefighter, and the service shall be considered in determining eligibility for benefits regardless of whether it was performed before or after the passage of §§ 24-11-801 - 24- 11-807 24-11 809 24-11-810, 24-11-813 - 24-11-815 and 24-11-818 - 24-11-821. (2) It is the intention of this act that all spouses and dependent children of full -paid, part -paid, and volunteer firefighters shall receive at least the minimum benefits prescribed in this section, regardless of whether the service upon which the spouses or dependent children derived the benefit was performed before or after the passage of §§ 24-11-801 - 24-11-807 24-11-809 24-11-810, 24-11-813 - 24-11-815 and 24-11-818 - 24-11- 821. (d) Any payment of benefits above the minimum amounts stated in this section shall not be made except upon determination that the fund will remain actuarially sound. (e)(1) It is the intention of this section to make eligible for benefits the spouses and dependent children of members who died from illness after leaving active service or who died after being retired for a duty -related injury, as described in this section, regardless if the service, retirement, or death occurred before or after the passage of this section. (2) However, payment to survivors made eligible by this section shall not be made retroactively but shall begin with the passage of this section. (f)(1) If a retirant and, if any, his or her eligible beneficiary both die before they have received in annuity payments a total amount equal to the accumulated contributions, including any interest credits, standing to the retirant's credit in the system at the time of his or her retirement, the difference between the accumulated contributions and the total amount of annuities received by them shall be paid to such person or persons as the retirant shall have nominated by written designation duly executed and filed with the board. (2) If no designated person survives the retirant and his or her beneficiary, the difference shall be paid to the estate of the survivor of the retirant and his or her beneficiary. History. Acts 1921, No. 491, § 8; Pope's Dig., § 7744; Acts 1943, No. 167, § 3; 1953, No. 68, § 2; 1955, No. 77, § 2; 1957, No. 94, § 1; 1969, No. 69, § 1; 1981, No. 253, § 1; 1983, No. 48, § 1; 1983, No. 397, §§ 1, 3; 1985, No. 145, §§ 1, 2; A.S.A. 1947, §§ 19-2208, 19-2208n, 19-2208.1; Acts 1989, No. 821, § 9; 1993, No. 1197, § 4; 1997, No. 536, § 1; 2003, No. 674, § 2; 2003, No. 1278, § 1. • • • FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS April 29, 2004 Arkansas Fire & Police Pension Review Board (PRB) PO Box 34164 Little Rock, AR 72203 RE: Act 1370 Dear Sirs: The Firemen's Pension and Relief Fund Board of Trustees has asked me to obtain clarification regarding Act 1370. We were originally told by Cathym Hinshaw, former Executive Director that Act 1370 applied to the widows of the volunteer firefighters. We increased their benefit amount and later teamed that it did not apply to the widows and thereforehad to decrease their benefit amount. The board would like for you to respond in writing as to why Act 1370. does not apply to the widows. We really appreciate your help on this matter. Sincerely, atimo azAk Sondra Smith Secretary Firemen's Pension and Relief Fund Board of Trustees 173 WEST MOUNTAIN 72701 479521.7700 FAX 479-5754257 FAYETTEVILLE FIREMEN'S PENSION AND RELIEF FUND DEFERRED RETIREMENT OPTION PLAN (DROP) MEMBER ELECTION FORM I hereby elect the DROP as my retirement benefit option from the pension plan in place of normal retirement benefit. I understand that in electing DROP, I have agreed to the following statements: 1. • The amount of. the DROP payments will be $ n l t,per month. This amount includes all service and age 60 bonuses that I have earned to .this date. This amount is'the same as if I'retired today. 2..I understand that the monthly benefit that I will receive at the end of the DROP period is .the exact same amount stated in Item 1, regardless of: any pay raises Iireceive.or.extra years of service I may work. 3. I understand that at the end of the DROP period I will have the option 'to receive the DROP `account as a lump sum or convert the DROP account to- a monthly annuity account or any other -method of payment as provided :for in the current Rules and Regulations of DROP. 4. I understand that the DROP account will remain in the pension fund until Withdrawn in accordance with the Rules and Regulations of the DROP plan: I do not have the ability to withdraw from the DROP account until the time of my departure:` 5. I have elected to begin the DROP on fl'1 Atf I a oo y . DROP will end at the earlier of when I resign or /Lp1v i 100 `l , (5 years from the above date, unless authorizations to participate in DROP shall be specifically extended by the Arkansas Statutes). 6. I understand that neither the pension fund nor the Department has given any tax advice concernmg the way the DROP account is taxed. I have, or will consult, my own tax advisor for this information. 7. I have read the Rules and Regulations pertaining to DROP. 'Two exceptions to these rules: Age 60 bonuses (for members with over 25 years of service when they go on to DROP) begin at age 60 whether stit`on DROP or not; raises given to retirees are also given to DROP participants. pouse Signature Otivativici Plan Representative Date Date Date Fayetteville Firemen's Pension and Relief Fund Deferred Retirement Option Plan (DROP) Member Election Form Beneficiary Des►gnat►on �ih� Zvi irn , F4-eJMk c3 ► r 53145 ember SSN 2216-jr00%hirc St Srin1c,4Jc fate Address City oV-213-7 heresem¢ Ji F/42P42 y30 -3420 Spouse 20 _ - 11 Years of Service Date of Employment SSN DOB 1,7 ez Zip /7- 26-62. ,-6z DOB Designation of Beneficiary I hereby designate the following beneficiary to receive any benefits from the DROP plan if I die prior to my termination of emplo m t heres4 VARRR�, ame Relationship of Member • ©4—as^0• Da 11*MMMYMMiffMMfMMIM***1**MtMM*M***** rIRMMMMMS***********lif.MA**AS SAS 1Mf\*Mf*ASASfl_1t*****tiff COMPLETE THIS SECTION ONLY IF SPOUSE IS NOT SELECTED AS BENEFICIARY MMM* MM5MMl11MM*MMM f11M*MfMMI ************l*l*l*Mllftll5Ml flMIMIMlf£I***MM1!VISA!***SA ISA ISA ISA 15181!!1! If Spouse is not selected as beneficiary please select one of the following: I certify that to the best of my knowledge, the above-named member is single or that his spouse cannot be located. Signature of Plan Representative or Notary Date 1 certify that I have agreed with my spouse on the selection of the above named beneficiary or beneficiaries. I understand that if 1 am not named beneficiary, I will not be entitled to benefits under the Plan. Signature of Spouse Date I certify that I have witnessed the above spouse's signature. Signature of Plan Representative or Notary Date • To: Marion Doss, Assistant Fire Chief From: Battalion Chief Danny Farrar 04-19-2004 Drop Retirement Please enroll me in the Drop retirement program effective 04-13-04. • Name: Emp # SS# DOH: Yrs Srv: Danny Farrar GENERAL FIRE PENSION Prepared: Date of Election: 4/23/2004 05/01/04 156 431-15-3465 8/17/1981 termed 5/9/83, rehired 11/18/95. Repaid contr f/time not emp 20 Hourly Rate: 15.961 Hours Base: %3,272 00 EMT/Hazmat Pay: Annual Salary Annual Benefit (at 90% of salary) 1112 of Annual Benefit Additional yrs beyond 20: Monthly benefit Daily benefit 0 oiatg 52,224.39 47,001.95 3,916.83 $20.00 0.00 3,916.83 128.77 • • • • 2003 - 2004 FIRE STEP RATES inI YEAR 15. rrYEAR;20 °0� -040 03-000•CJ 00'�0N110) .f4?ern d W co to CO W v 0 M co N N n r N O CI O a0'l XQ tO b i0 %'h .�m O b � ate) O W. 00 6 O r W I_ O co 10 e N N CO W N N OY Ne O 10`03 �jys:0 W i7 Wp�l�rOj.O VIFF �y^^04W .tnO m 'iyVire 4 Q510. S„ 0) abi inn O N O�IWp W[ t- .C) V Tbjp. Na' LM '�I'�Ot W N O N- O O N d 17 W m? 01 N CO N Q CO CO CO r n v 4bN O O"iO A O 'Y+UYvWi Vf C�U"�N OY� 64.2 .tV L. p W •IO Ooz yO b 0iN Nt d R < �'�1O Siv' - 10 b^3 noci:so.p1"a- I. a O 0 W O N O W ! q N N W CO N O!' CO 01 N m N Inco f0 Q a'+'`,v O n an 0 O O r 0 03 coI0 p O O W N N Q' v 'C n N O W d N W O m Q 17 ol 0 0 N 01 O N O 17 N n h d 1- N r r Q Q r H- d O W W 00 1'1 6 0 Q YI N N O O N q ,I STEP H 5W5EAR1.1.0Ji ��WN :OWIO"YEE�OM OOMr./h�C�W iiM�Mhh l"`07HW [0 f)FO maOOro (tfC>NLIOt0 0 0 W n N D'N30 Ci 10 Q a a Z Z ZZ 0 Z022, 01 �D W 02'b mO£Nb m j}OiO Q r) a 2 orOaO t d0 o 0.*y a "J["N 40 Nk0 OW<� 6 co, 400 IV 0- O el N co O W N r Q 0.03(10100 10 0 N N CO N N co N 0 .- o N d CO CO W O e r W N W v STEP F DxSTEP.JG?' �{{�� co Wvj'0 ViOf�N �OfW1N yy++ 0 0 N 04� v -O CO TTAv W 01.^a� WSIV O Q W O y O m 10 gun r N „ r co Al Jlif40 S'+fN '��O N �O N Q CO M P 10'^' g N b S. yg j D} i� .j Pori. {°ID Wit W M10 t• N OTN W -N (O 0 COcotno VDq O' CO O t CO O N ri N co n P N O 0 d 10 r .- O N N CO CO m r N D Yp 08 W Q CI W A W 000000 6. Q .- r IF -0 n CO Cl O I.. tr- el O N O O I- W 0 0 N b Q^ N NQ Od Co c r 0. co v co p m r W OyN �SW t� 1 l�V yv N i�Dt(��ppi N r 0 0 0 0 0 O CO Q O W W O pO YI a 01 N 0 10 O.r Ore ON Q v. Q r N N "UAO. O0'NW F nJ-s<r.,•.a 1 m201- 0,-0 6vN eL 7 T�[ n', 00 CO O N to 0 O co NN It17 v PI a op -IW +i�fiC OS Wt At a1Pi/� 010000. co co O ' W IINN� 'r m r-Nre 1.) 0 0 O O r O. N N 01- �s 'via 0 000300 10 0) O A r O O M IO W r to 6 n a 0mWNm^ co v C -44j STEP D r78YEP1E91 I STEP B P.j F4STE (y , F m 10 . o "' enma tV vV6" co O v O N .4 eij 4t C75 gW i{VAif 1y) v ` O. pm iv l �5 o Xl '3r� �� ,411 yO iD .1;N��,,t� qP N o 6 tOv �✓8' a r 3'.iT¢ W, O CO N O N 0 0 0 W CO W Co 00- O r 0 CO W O el v W O O G n 0 O CO O e N O r CO O Q O O CO O n W I. O 0 0 W 0 03 C) .- n N O W N e e Ci 0 0 0 O co N O t- com O co O co O co co O v r a W r gp.we10 �N 0 - en co al t% CO r v v a 10 a W N 17 a N O C) 0 O O O 0r W Ir W W6 O. O 0.3a . 'N i ygm "i'T:.�-tWi) t..j�+�L AiOYO KWh -O m� O v :. (p t0 'p4' �iF ' =la CJ - 21 Q 2 > a W W <> I a 4a 4a a w o a<< a 1� 0 � I- a s I- 0 OF I- Oo m I W F m 0 F '� A' v O' .Tp• F16 IV ry •O N'O =!- O o ��q-. W Or W AjIN� Ok N'l.y i+�'� f p- v 0O O O'm vi w 0O1 N Ot d O 0 m N 0)N N N w I- I. > a w w s <> =.a a s rc w J << I 3 1_ F a a O tC O F F v m x W F a 0 ` .�' ¢1 y '� 4 04 W �'4s i.f i74w O CJ}O O O6r NRn. - Ni p 4 1, CIr'N 40.5 COf "St- w n W A. a i s v Z Z La F f > a W W s <> x a a 4a a s w <<< a 2 N O� I- a s F <OS -C OF I- O.o d m x W F K 0 F t•Z MI- O t1 O M'. o0 0) O T N W I- H 0. J < a ~ � -o F` BATTALION CHIEF LL W_ x 0 ZLL • O _ < W < 00 CO FIRE CAPTAIN FIREFIGHT • • • May 3, 2004 Ms. Kelly Skelton P.O. Box 8044 Fayetteville, AR 72703 Dear Kelly, The Firemen's Pension and Relief Fund Board of Trustees met on April 29, 2004. We discussedat thatmeeting if you would quality for benefits should you decide to attend the LPN program at the Northwest Technical Institute in Springdale The board has approved you attending this school The law allows you to continue to receive benefits if you are a full time student enrolled in an institution of higher learning after completing high school. You will continue to receive benefits as long as you are enrolled as a full time student until you reach the age of twenty-three or get married. You must provide Proof of Enrollment by the beginning each semester. The Proof of Enrollment must clearly state the following information: 1. Number of hours you are enrolled. 2. Number of hours the institution considers full-time. 3. The length of the term. If we do not receive the necessary enrollment information by the beginning of each semester of school, your pension benefits could cease. If you have any questions, please feel free to call the City Clerk's Office at 575-8323. Sincerely, Sondra Smith Secretary Firemen's Pension and Relief Fund Board of Trustees New World Systems 5.1 *LIVE* DATE 4/21/64 TUE 11:29;48 FINANCIAL MANAGEMENT BUDGET PERFORMANCE FiPORT MMrrth End Date: 3/31/2004 PAGE DGm i 1 3 4 5 6 8 o 12 13 ,4 15, ,e 17 18 19 200 21 z2 23 24 26 7 n 29 30 32 33 34 36 36 37 4° 41 42 a3- 44 45. 46 47 48 49 50 51 52 53 54 a =3 O1PRITSI x APEADIA- {CT,- . a t-ost(iT� 3. ? BDD(T,IESS x YEARS._y T $ - CTIt. _7-D s..... ttoth airs "* . Bucca ^f lens_ NS -' REVENUES YID8 ",..._REVQBIE' UES,--",�;. _EUDC£T - Rind x.. 6810'=-F1rePensl l Division 0981 - Fire Pension Revenue Of I CLASSIFlCA1I ( iaaea +An.?T 4.4%44444-41. ..4444 A "` Y4100.� 4100.01 ` Prgl Taxes' "'ter .00 3iF00 Del ingProp 13000.00 00 130 � 4:55' 327495645 "OY 3:8 33.73,__._.100x_._107.39.26. -. w00_____13000.00------1279.81__,..._12966.27_ ___ .-_- Tames TOMB 34T303,0 .00 341500.00 12970.82 327529.18 10243.10 ACCOUNT. C NLASSIFICATIOREtintergwrmcerttal a _ �� �� 9301 4301.0 06 St10'S7lurd -FUhrce -.- 41288 p 00 00 .00 41'v688.00 :Ob C '" �412688E60 9X OO 00 00 00 00 CO 02 00 -OX T '- Inde COHNT-CLASSIFICATION--In .00 41i688. 6" .00 .00 412688.00 teies% ` *" a ,_._ .F " • r - ti ' 4703.00' _4704 4704.02 -71704.011 Yti,. int-ilte ` ;Rc ;�50 ` R 00..._...._Int�rtiTnv.. _._.ROW .0. ..00. _.....60000.00_ Int -CD 12010.00 .00 12300.00 ,s.wv^. - 6000:00 82.71 1947:43 4�2r5J 231' "'+3xr: 5W9.72. _16467.26-----43532.74 27X 177417c92 744.01 2184.01 9815.99 18Z 3929.17 -120003:00 ifitCov--1 ec .T0----120000.00-7264.87 2319831 98801:09 79X-25828:65 'FE•T00 Int -Eking 103:0 t/ 180;00 11 18:19 l0 , 'most v.�u .81-81 8I .25 :1-1+1= fE �478, 410 04 iS1160" t 11000 416�4t29X9k 4770 01 '131 nv s 110 IO C ?-00'� � 8 L�88 &5299 4 �v :44- 4/70;99 -4780 ihreali�/t. .�0 .W- 00InvestFees---60001.00- .> .00 06"" .00 W � �. . ---CO- __80000.00- -590.94-___22169.70--_57930.30= _-_28X___22276_1i-.__.__ interest TOTALS : Z3310.00 .0 2351W.00 18482.13 219949.18 15150.82 min --- a I t s- ri a$s �1Q.ASSIFTLATION.RF80,;--4-Contritutlmsss:x'�.,s, 4809:00 4810.00-0fctCCmtr-28671.00 `* . La-. . v . �. Win,..., ` ,� 'a3 � .*£ axv __. a'e=.= -- m Donatls 0 W .00 .00 00 28671.00-.-2141.90 6123.43 22247.57 22Z____7439.11 . ' _.00 4812.00 OenFhdCont 57342.00 .0 57342.00 4283.75 12946.65 44495.35 Z2Z 15578.15 - untriil*TOT : 6 �1 R .�Y . t 13#{^� •r t t:., 6'b/42:92 /.h.,.- K • . i. y msp.. uu'.. �''�'wmx, R& - $'..r..3.4«.p `WCOORT; $ =%NI39 ... ..... i,. r....a,v. _.�« 4999 O0 ttt c Rev 00 CO 00 CO 00 00 IPJ 00 - 4999.99 HseFta:Ma1 23:b/3.0 71458.00 322131.00 .0 .00 322031.0 OZ .00 .` MiZG*TOTAii^r : sae'.:$t:, /1458W .oiv to iwQO.� .00 3%131:00 ivislori`TOTAIS`�" 1 " 74 �id� 6q 4:14. 6R,� } .43 08. �11441419L 2'' '-Kt Find TOTALS ... . : 1324874.0 71498.0 1396332.00 26198.68 252190.08 1144141.92 -1132 4/7.97.21 - .:__"> .�,hs ( �'. ;eac�m'tr-- �ffi'Tit .;! ';a .M �sav'$k�".a�.'.tl " " fY" -' _ _+ _ . .' "1 �-i> �€' .� `do- ,u,:.yyxae<_ "_ .rw+r'j. ` v, !,� .:tea'.. 3 e�'�:i . ,;w ,�z^'*c'' ^'� -.: �;x+'.. __ ..>•" 55 56 ` ' fl �. , a a, vT A }Uy �' `% 5 is '� 44 Efeu Nor1d st.= 5.1 *LIVE* DATE 4/21iN TIME 11:29:45 FINANCIAL MANAGEMENT BUDGET PFRF(RMABCE REPORT Month End Date: 3f31/2004 PAGE 172 G12110 DGRIDIE ..1 '•. Is ';. A . -„i4 l.'�CaF¢{.r j - �:I.'G-.., ka4;8QOGETIMEDM)H1Ht'y T D y: D BUDGET E:ES$:.� A, 4-04 . jitt ttln s ..BUMET. ntmsAG' IOIst E1tay.lTuLs Y'EuEfQ S O D EZDwiJilm: _Di_vision 9810 - Fire ft:nsicn Espeitse Eeo--M3terleis d eli•; • x - X00@tT'Ct;6SSiiC Tleint30, 1ces d'Gte'ges :-maTiaVilifir Y --5304.99- TAT -Adduce 5307.00__. Audit Bp - s°a Seal 14010 `s�s Pcof=Sery .131' --.00 3700.00 .00. .03 .00 .00; .00 .o - .00. --..03 Co 414- - oo 3700.00 .00 .00 .00 3700.00 01 .00 .00 .00 1 .OiF .00 4+1•---760- 533S:06 +1•-- 00- 5335:06 I iinbri - 53355.01. -- DRQ 5335.06 Flaw w.00^t�.Y10 r . 00 c - ,71458:00"938282; ` 57,.a :"" :00"' -248757 303.00. .00 .404300.00 30817.58. .00 92462. .00 _-- .00 .00 .00 .00 00.4 rci 00 sm 00 - iI 00,‘”750.00 OZ re.Cti •_ e w 00'x-+ + , .11a741524:291'.257 74:82 74 - 311847.26_232--._78198.00---- .00 .00 oz .00 rerol(3�s4OTAEu.: YaZ4874:00 173ti70: is .fes Rind TOTALS .... : 1324874.00 71458.00 1396332.00 113010.15 w ;007;.i39210:4p711::71,81;sswr X+ 132182 .00 339210.45 105/1/1.Sb -Z4Z 30513.82 MI WA New World System 3.1 *LIVE* DATE 4/21/04 TIME 11:29:11 FINANCIAL MANAGEMENT ACCUMULATED TRANSACTION LISTING G/L DATE JOURNAL TYPE TYPE SOURCE 'DESCRIPTION DEBIT AMOUNT PAGE 217 GL1320 TGRI22LE CREDIT AM0@ff ACTUAL BALANCE C/L' acCGi19T Ii Re` 6810 20 s& -._._ ---—Ba�/Detall-iTYIAL G/L ACCUJET EMBER 6810.9810,5304.00 €I DTAL- -. ,-. Ptbs/Tues- 'llaittms`$ 71SCeYEAR; TO -DATE-' ,00__ _.00 ,00 6810: se/Aeta g G/L-ACCOUNT-EIRIBFR:---6810:9810:5307.110----_-_.-_-Amit-es m- BaRLUetail.TOTAL... _._ . ,_-: 681#13814 S 109. EG'/!` accougr is --FISCAL YEAR-TO-DATE:— ---- ----.00- -- .00 EARTCI-DATE:—_----_---,00---- .00.(m,00. FISC4I YEAR:TO=DA' is _. FISCAL YEAR IO DATE: 02m1, :umscalattpait tagefigaii TOTALS ask erb1;c5er, "ces J1 ACC«lfQNIA R;__68_ID,9$10.5314 01 Leal services Base/Detall TOTAL . , , .: Legal Sere .00 Base/Detail IDTAL BaskServCh 'G/L ACCOUNT ARTIER: 6810, 98105331.06 ri T4T Derr l Palsicn aitlitmal -oo,00 FISCAL IgA! 7O i�Aiir !WIWI I " Hit &heirlisyroi :Becks t)3%31`1Z0011 699f -63 ----401391--HR--JE41 --BacaPayroll-Chatks-03/31/2004 .___ --103.00 401391 BR JE Assn Rsrs Eaytoll etks-03/31/20D4 103,00_ 401391 BR .R Rum Rat Payroll Checks -03/31/2604 2,817,19 335 401391 k HR� cr o1 i 1.34 'JE i�d7li 1391 31 E Payrm1 1391 �Iflt�Jt?R� Ra`i`real Oa li 66,213T82 167!1-12.95 168,015:45_ I68,118 _45 IA1,93,64 .10 40114 123:fi0 -401391--BR m 1l k&c-.Payroll-Checks-03c3L2C04- 1,686.21- 401391 BR JE En Rsrc. Payroll Checks -03/3112094 1(8.00 401391 HR JE li mea i Ram Payroll Checks -M1/26321 102:00- 1 NR i l n- itPayrolli �: « iJ2t?0¢ '; - 7( 69. 176.896'_ A977:019389 -478.7336.05- 178,809.os 178:312:0S--- TI8(f.6 is228 .826:53 89, 74 it 189,377 16 189,480.16 192,852:31----- 95,749 35a 197 1 40139 401291 401391 401391 13.91. 401891 ..19135 597:65 E Nte r 't``Fteoo Ptlieck's'-e; - 1)2034` a: ;447.63 --BR—JE-&zaaPayroll-Rarc-P<yrol-1 Checks -00/31/2004 103,00 AR _JE Ilt®a1 Rsrc Payrol i_Qlecks-03f31/2034_.---_ 103,00 _ ER - JE Rural Rat Payroll Checks -03/31/2004 3,371 15 rlknarRs crPayro14. QlecW0301a604 - r1,897t 481-131_""IRM' rai1Z,e i/f00$ -I liiiaatigat" 0111'/2604 1.'a` 9S ; ;RaT a i ttI ILS i373Y/2004 . `HR 'Ilia `ttithW o1'1"Gtlecfis fi3f311200 1,612: NR JE Bucaal Rsrc Payroll Checks -03/31/2004_. _103 00. l JRErman Rs'c Peorcol!_Checks-03/31/2004_ - ... 430.03 :1E Moan Rsrc Payroll Checks -03/31720043:5139:06 Ilukal'Rscc-Palrcoli Checks -03131/2004. „w�l03 i=Ra c PatrcEiil Gilacks 3231/ 401 401391 401391 401391 401^.391 4f?1391 4397 1129111131”. PAID FW R, 401391- IIRA'.18: lenati Rsrc olFctiftka-03/3i92it]4` 1,65 .07 -401391- -HR JE_Ih- _Rare-Payroll-(hecks=03/31/2004_-4O300- 401391 NRJE Human Rsrc Payroll Lhecks-33'31/2004 1,257.90 401391 RR #E Bi®ai c Pa -03/31, "_._._-1:229:21-__.. 391/ iits-an Its:tc-PayrollAeckm„ 3192004 + 2 __,202.597 72 203.027,75 206686:81- .. 689:8; 14VIVII7 714.210..17 215,498.07 - -------215:727:28 ---- - 19,724 • 6br3/stens 5.1 *LIVE* ISE1E 4/21/04 n E 11:29:11 FINANCIAL MANAGEMENT ACCJPENATED TRANSACTION LISTING IRAN JRN PROJECT II CJI. DATE JOURNAL TYPE TYPE SOURCE DESCRIPTION DEBIT AMOUNT PAGE 218 CL1320 PGRIZEI£ CREDIT AMOUNT ACTUAL BAIAICE • 6/14 00ifF�NIREER. 6810:981-0_4533540 ; s3m xpeasaSCWEAR I73 401331 mNR aLlitha 8s _c1Payroll ks I/2004 �`-'1X' 13911 lar a IAaai" Rscc F^ay el li Checks-U3l31 2504`,'" '"° 118T 95" 401391 "`HR' ``.E``laii ldiesPayeo lttheckS-03/31 L0D4 1'er 128:75 -- -01391---1Ui—JE-Thai-Ra'c-Payr-o11 Checks -01/31/2004 ----2.065.51-- 401391 NR JE TLaarks'c Payroll Checks -O3/31/2004 1,73161 401391 -11R JE Rtni Rsrc Payroll Checks -03/31/2C04 2,606.36 11 1 >>R . it of e 1112004. ;21111:99 " a r 421391 1114..J1J1ut�i:Rsie Payroil:Checksz03/.31/4304 « ^+r., 1.366.451-0......... 331 'BR 7, 4 Ra, Payrol tbsck5-03/31/,2004 - -11437.45 401331 `i1R' lE-Huban`RsiCPayk o11't7ieck -03/31,1054 1;147:60 —401391----Mt-Hmiai-Rat-Payroll-Checks-03/31/2004 1,147.60 401391 HR JE Hunan Rat Payroll Checks -03/31/2004 401.70 —4 -11r --1C-111 Rat Payr`o11 Checks 3i31720b4 75991_ 401331 ^ dklksa sRac Payroll: