HomeMy WebLinkAbout1982-12-06 MinutesMINUTES OF FIREMEN'S PENSION AND RELIEF BOARD MEETING
A meting of the Firemen's Pension and Relief Board was held on Monday,
December 6, 1982, at 4:30 p.m., in the City Manager's Office, Interim City
Hall, Fayetteville, Arkansas.
PRESENT: Treasurer Scott Linebaugh, Chief Paul Logue, Firemen Dill, J. Boudrey,
and Johnson; Secretary Olivia Kelly.
ABSENT: City Manager Grimes and Fireman Springston
CALL TO ORDER
Treasurer Linebaugh called the meeting to order.
MINUTES
The minutes of the November 1, 1982 meeting were approved as submitted.
PENSION LIST
There were no changes in the Pension List. Motion was made and seconded
to approve the list as submitted. Upon roll call, the motion passed
unanimously.
OLD BUSINESS
Treasurer Linebaugh stated that the following CD's had been invested
during the month of November: (1) CD/p12316, in the amount of $320,595
was invested at Northwest National Bank; (2) CD/p01070, in the amount of
$100,000 was invested at First Federal; and (3) CDf210000 in the amount
of $157,000 was invested at Mcllroy.
Motion was made and seconded to approve these investments.
In another matter, Fireman Dill requested the results of the Actuarial
Benefits Report to be prepared by the Office of the State Auditors.
Treasurer Linebaugh stated that he had spoken with Ms. Katherine Hinshaw
of the Office of the State Auditor, and she had informed him that the report
would be forthcoming within the month. The Auditor's Office would have it
completed within a two week period, and it would be sent to the City of
Fayetteville following that. He added that she could not give him an
indication of what the results would be concerning the benefits to the
firemen. Effective January 1, 1983, Ms. Hinshaw would be in charge of the
new Pension Plan.
Treasurer Linebaugh stated that the accounting firm of Arthur Young
had completed its annual report on the Pension Fund, and he calledfor
a notion to approve payment to Arthur Young for services rendered.
Motion was made and seconded to make payment of the outstanding bill to
Arthur Young.for preparation of this report. The amount due is $815.00.
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NEW BUSINESS
There are to be no investments during the month of December.
NEXT MEETING SCHED
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The next meeting of the Firemen's Pension Board is scheduled for
Monday, January 3, 1983.
ADJOURNMENT
There being no further business, the meeting was adjourned at 4:45 p.m.
OL( A. KELLY, SECRETARY DO- I4A7D L. GRIMES, �
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