HomeMy WebLinkAbout1983-09-07 MinutesMINUTES OF A MEETING OF THE FIREMEN'S PENSION RELIEF BOARD
A meeting of the Firemen's Pension and Relief Board was held on
Wednesday, September 7, 1983, at 4:30 p.m. in the City Manager's office,
Interim City Hall, Fayetteville, Arkansas.
PRESENT: Treasurer Linebaugh; Firemen Judy, Springston and Boudrey;
Secretary Griffin; Fireman Bill Boudrey sat in for
Fire Chief Logue.
ABSENT: Chairman Grimes; Fire Chief Logue, Fireman Dill.
CALL TO ORDER
The meeting was called to order by Treasurer Linebaugh.
MINUTES
There were no corrections to be made to the minutes of the August 1,
1983 meeting. Firemen Judy, seconded by Jack Boudrey, made a motion to
approve the minutes as distributed. The motion passed unanimously by
voice vote.
OLD BUSINESS
Treasurer Linebaugh stated that the following investments matured
during the month of August and were reinvested for 91 days:
8/8/83, C. D. #22341, Mcllroy Bank, $420,595 @ 8.13%, reinvested
with Northwest National Bank at 9.945%.
8/22/83, C.D. #22395, Mcllroy Bank, $303,000 @ 8.63%, reinvested
with Northwest National Bank at 9.58%. (This investment was increased
to $333,000 by the addition of $30,000 accumulated interest).
Fireman Springston, seconded by Judy, made a motion to approve the
investments as they were made. The motion passed unanimously.
NEW BUSINESS
Investments
Treasurer Linebaugh stated that there were no investments maturing
in September. He added that there would be four investments maturing in
October: 10/17, $275,405 and $125,800; 10/24, $345,000; 10/25, $195,000.
Pension Increase
Treasurer Linebaugh reported that he had been notified by Catherine
Hinshaw from the State Auditor's Office that the actuarial study requested
by the Fayetteville Fire Pension & Relief Board had been completed and the
benefit increase approved. He stated that the increase would be $100 per
month for regular retirees, $10 per month for volunteer retirees, was
effective September 1, 1983, and would be reflected in the September checks.
Fireman Springston, seconded by Boudrey, made a motion to acknowledge
the State Auditor's report. The motion passed unanimously. Fireman
Boudrey, seconded by Judy, made a motion to approve the pension list, with
the changes as noted, $100 per month increase for regular retirees and $10
per month for volunteer retirees. The motion passed unanimously.
Fireman Boudrey noted that if there was no cost -of -living adjustment
built into the pension system, the firemen sitting here now will be facing
the same thing that the present retirees have faced. Mr. Linebaugh responded
that the new pension system did have this built in, but the old one did not.
ADJOURNMENT
With no further action before the Pension Board, the meeting adjourned
at 4:50 p.m.
Mary E( griffin, tary
44(zie-s-i
Donald—L. Grimes, Chairman
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09:40:46 03 OCT 1983 ACTIVE SECURITIEF `R FUND NUMBER 081 - FIRE PENSION >:AS OF 30 SEP 1983
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BANK
PAGE .
PURCHASE MATURITY b_tYCALCULATED RECEIV.D ACCRVGO . , ARID IN CASItU UIbYUIfn iUN
SECURITY DATE DATE PERIOD C 0 S T_,. RATE INTEREST '-INTEREST' INTEREST ' & AMOUNT DATE & AMOUNT
1ST FEDL 01275
MCILROY 12960
MCILROV 12961
MCILROV 12962
07-26-83 10-25-83 91 DAYS -W195000: 9.6507',, ?:"4691749 ^ ^"x'@'" 0:00W-3402::61 "" 01261,2-:-
.. .. ....,
7.
195000.00
11-07-79 11-07-83 3 MONTHS 113199.44 11.500X
11-07-79 11-07-83 3 MONTHS 100000:j00 31c500%
11-07-79 11-07-83 3 MONTHS 100000.00 11.500%
MCILROY 12963 11-07-79 11-07-83
MCILROY 22611 08-01-83 11-01-83
W NTL 11723
07-18-8310-17-83
�j/,NW NTL 11724 - ' 07-19-83 10-17-83
NW NTL 11791`. 07-25-8310-24-83
NW NTL
NW NTL
52071.74 48817.20. 1084.83
113199 44 `
x6000yA0,,;r,43125, 00 ''958;33 ' NEW ,,
'-
100000.00
tlivR,r l .
46000.00 43125.00.-
958.33 NEW
an 958, 33NEW
3 MONTHS-' 300000,;,00„li 50046000.;0,0 ,4Y 431215'00 �
<.,::... .a.,.xra.�.. . .. ,.
92 DAYS 312000.00-'9:630% 7573.14 0.00 4939:00 7 011759
00.00
v,7 r r»� rsYm- 9fi T7' 3 a •.t ,.' .. 312000. 00..•
91 DAV 275405 00 9 5877. 6582.69317 O 00 415349 04 25171
275406 00
90 DAY 125800.00 9.615% 2982.49 0.00 2417.87 11753
..:^?I41'µ' "so 7 4:7 '= .:777` r� 5. `,,. i ` „ „ 7 ",125800.00
91 DATE/ .E1345000.00"n',9 5157. 8184;;20„' " 0.00 .,, 6022;56'ir 11709 771.
7".,3,.7"77. NEW
125000.00
•
11796 08-08-83 11-07-83 91 DAYS 420595.:00. 9.9457.± �. 10428.39 3�W 0.00 6070.63 22341
.xi.1+' '.' v ' " o-z'mr t':, +i. 91S#7;; m, 2!, . '°11;•,: 1,420595.00 _ .. , .. ...
08-22-03." 11-21-83 OTHER E 3,'. ,0001,907W 8<1. , 53µ"-415,.Q!,2622:03 i' r 1Q786., 6
11807__
303000. 00
NEW
30000. 00
23846x;_64 44180814;23 32948:;;1.4 r
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