HomeMy WebLinkAbout2022-04-28 - Agendas - FinalLioneld Jordan Chairman
Kara Paxton Secretary
Roy Cate Position 1 Retired
Firemen's Pension and Relief Fund
Board of Trustees Meeting Agenda
April 28, 2022
Pete Reagan Position 2 Retired
Lonnie Napier Position 3 Retired
Ron Wood Position 4 Retired
Gene Warford Position 5 Retired
A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees will be held
at 3:00 p.m. on April 28, 2022, in Room 326 of the City Administration Building.
Call to Order
Roll Call
Garrison Financial:
• Quarterly reports ending 12/31/2021 and 03/31/22
• March 2022 Pension Statements
Approval of the Minutes:
• Approval of the October 28, 2021 Meeting Minutes
Pension List Changes:
• Howard Boudrey DOD 03/15/22
Approval of the Pension List:
• Re -approval of the April 2022 Pension List adding Irma Boudrey
• Approval of the May, June, July, August, September, and October 2022 Pension
Lists
Unfinished Business: None
New Business:
• Revenue and Expense Summary Reports for 12/31/2021 & 03/31/2022
Informational:
2022 Election — Board Members
• Ballot Deadline
2022 Meeting Calendar
• Next meeting October 27, 2022
Note: All meetings are tentative and subject to change. The City meetings calendar is located on
www.fUetteville-ar.gov
o0w,, GARRISON
ASSET MANAGEMENT
January 13, 2022
Ms. Kara Paxton
City of Fayetteville
113 West Mountain Street
Fayetteville, Arkansas 72701-6069
Dear Ms. Paxton,
Enclosed is your quarterly report for the quarter ended December 31, 2021.
RECEIVED
'JAN 2 5 2022
CITY OF FAYETTEVILLE
CITY CLERK'S OFFICE
The equity markets posted another stellar year in 2021, even with the specter of increasing inflation and
the rise of the Omicron variant of the COVID virus looming. In the fourth quarter alone, the return on
the S&P 500 was +11.03%, bringing the full year performance to +28.71%. The Dow Jones Industrial
Average and Nasdaq trailed the S&P 500 by a wide margin ending the year up +20.95% and +22.21%
respectively.
Market breadth narrowed dramatically over the past twelve months with a mere five popular tech
stocks contributing over 50% of the S&P 500's returns since April. At the beginning of 2022, ten stocks
in the entire S&P 500 accounted for 30% of the index. Historically when market breadth narrows to
such a degree, equity markets have exhibited weaker -than -average returns over the next 12 months.
Given the narrow breadth and strong equity returns the past three years, below average returns for
2022 wouldn't be a surprise.
The bond market struggled in 2021 as inflation and the expectation of the Fed tightening pushed rates
higher. The Barclays Intermediate Government/Credit Index was down -.42% in the quarter, bringing
the full year return to negative-1.44%.
The US economy continues to grow, with third quarter GDP coming in at 4.9% on an annual basis.
Estimates for economic growth for the fourth quarter are 5.7% on an annual basis. Companies continue
to perform well with expected 2021 revenue and earnings growth of +15.8% and +45.1% respectively.
Consumers are in good shape with spending likely to be up 7% in the fourth quarter.
On the flip side, consumer price inflation, at 6.8% year -over -year through November, is the highest it's
been since 1982. A few examples of consumer inflation include; Used Cars +31.4%, Gasoline +57%,
Bacon +28%, Ground Beef +18%, Eggs +29%, Sugar +13%, and Coffee +6.1%. A severe semiconductor
shortage is curtailing the availability of new vehicles and consequently driving demand to the used car
segment. These and other raw material price increases are being passed along from producer to
consumer as quickly as possible.
This rapid rise in inflation has caused the Fed to telegraph a more rapid end to their quantitative easing
program, which consists of the prospect of earlier interest rate increases, slowing their bond purchases,
and at the more extreme, actually decreasing the amount of bonds the FED currently owns. This recent
shift in the Fed stance in addition to sky rocketing COVID cases has caused market conditions to weaken
into the early days of 2022.
The past few years have been dominated by uncertainty around COVID and its multiple variants. It
appears that there is a growing perception that the virus will transition from a pandemic to an
"endemic" in 2022, which is an environment in which we know the virus will be circulating broadly and
with regularity, much like the flu. It's not going away, and we will learn to live with it. Companies will
adapt and supply chains that faced some of the greatest challenges will improve over time but will likely
be altered forever.
The U.S. economy should remain on a moderating growth path in 2022. Consumer spending is expected
to remain strong given the healthy labor market and significant levels of cash sitting in bank accounts.
Government spending will be another source of strength given the recently enacted fiscal spending
programs. However, we do expect interest rates to rise which will likely pressure returns in both the
fixed income and equity markets in the coming year.
At the end of the year it's always a good time to review your financial goals for the coming year and to
think about your asset allocation between stocks and bonds. We are happy to visit with you about any
changes to your asset allocation that might be appropriate.
As always, we appreciate your business and confidence in our investment team.
Kerry Bradley, CFA, MBA
Equity Portfolio Manager
Garrison Asset Management
605 W. Dickson Street, Suite 201 • Fayetteville, Arkansas 72701
479-587-1045 • 888-442-7637. 479-587-1257 Facsimile • www.GarrisonFinancial.com
RECEIVED
►JAN 2 5 2022
CITY OF FAYETTEVILLE
CITY CLERK'S OFFICE
0001,
GARRISON
ASSET MANAGEMENT
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
Quarter Ending December 31, 2021
PORTFOLIO SUMMARY
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
L J
87.4°6
&ION116.9
December 31; 2021
■ Cash & Equivalents 206,649.85
■ Account Fixed Income 1,435,457.80
Garrison Asset Management
PORTFOLIO APPRAISAL
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
December 31, 2021
Adj Unit
Total Adjusted Market
Pct.
Unit
Annual
Quantity
Security
Cost
Cost Price Value
Assets
Income
Income
Yield
CASH AND EQUIVALENTS
Schwab Bank Sweep
206,649.85 206,649,85
12.6
0.010
20.66
00
206,649 85 206,649.85
12.6
20.66
0.0
CORPORATEBONDS
50,000
IBM Corp
100.00
50,001.24 lX68 60,338.70
3.7
7.000
3,500.00
1A
7.000% Due 10-30-25
Accrued Interest
583.33
0.0
50,001.24 60,922,03
3.7
3,500.00
L4
MUTUAL FUNDS
12,366,035
Vanguard Admiral
12,13
150,025.00 11,31 139,859,86
8.5
0.120
1,48392
1.1
Intermed-term Treasury
9,191.176
Vanguard Admiral
10.88
100,025.00 10,62 97,610,29
5.9
0.040
36765
04
Short -Tenn Treasury
3,676,471
Vanguard Core Bond
20.41
75,025 00 21.21 77,977,95
4.7
0.260
955.88
12
Admiral Shares
3,046,1 12
Vanguard Intermed
24,63
75,025 00 2505 76,305.11
4.6
0.550
1,675.36
2,2
Bond Admiral
8,453,085
Vanguard
11.83
100,025 00 11 89 100,507.18
6 1
0.230
1,944,21
1.9
Intermed-Term Bond
Index
25,162.828
Vanguard Intermediate
10.39
261,463 57 9.95 250,370.14
152
0 230
5,78T45
2.3
}
Admiral
58,672.725
Vanguard Short -Term
10.86
637,204 87 1077 631,905.25
38.5
0.180
10,561.09
1.7
Admiral
1,398,793.44 1,374,535 77
83.7
22,775.57
1.7
TOTAL PORTFOLIO
1,655,444.54 1,642,107.65
100.0
26,296.23
1.4
You should carefully compare this statement to the statement you receive from your custodian and notify us immediately of any discrepancies.
Garrison Asset Management
PURCHASE AND SALE
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-21 To 12-31-21
Trade Settle Unit
Date Date Quantity Security Price Amount
SALES
02-02-21
02-03-21
40,000 Schwab Govt Money Fund Investor
Shares
03-05-21
03-08-21
66,000 Schwab Govt Money Fund Investor
Shares
04-07-21
04-08-21
88,000 Schwab Govt Money Fund Investor
Shares
04-07-21
04-08-21
3,766.478 Vanguard Intermediate Admiral
04-07-21
04-08-21
3,711.089 Vanguard Intermediate Admiral
05-07-21
05-10-21
18,214.936 Vanguard Short -Term Admiral
1.00
40,000.00
1.00
66,000.00
1.00
88,000.00
10.03
37,765.18
10.03
37,209.82
10.98
199,975.00
468,950.00
El
Garrison Asset Management
REALIZED GAINS AND LOSSES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-21 Through 12-31-21
Open Close
Cost Amort. or
Date Date
Quantity Security
Basis Accretion
02-02-21
40,000 Schwab Govt Money Fund
40,000-00
Investor Shares
03-05-21
66,000 Schwab Govt Money Fund
66,000,00
Investor Shares
04-07-21
88,000 Schwab Govt Money Fund
88,000,00
Investor Shares
09-29-20 04-07-21
3,766.478 Vanguard Intermediate
40,025.00
Admiral
06-01-20 04-07-21
3,711.089 Vanguard Intermediate
38,561.43
Admiral
06-01-20 05-07-21
18,214,936 Vanguard Short -Term
197,820.13
Admiral
TOTAL GAINS
TOTAL LOSSES
470,406,56 0,00
TOTAL REALIZED GAIN/LOSS
-1,456.56
CAPITAL GAIN DISTRIBUTIONS
03-31-21
Vanguard Intermed-Term
Bond Index
03-31-21
Vanguard Intermediate
Admiral
03-31-21
Vanguard Intermediate
Admiral
03-31-21
Vanguard Admiral
Intermed-term Treasury
03-31-21
Vanguard Admiral
Short -Term Treasury
03-31-21
Vanguard Admiral
Short -Term Treasury
12-22-21
Vanguard Intermed-Term
Bond Index
12-22-21
Vanguard Core Bond
Admiral Shares
12-22-21
Vanguard Intermed Bond
Admiral
12-22-21
Vanguard Intermed Bond
Admiral
12-29-21
Vanguard Intermediate
Admiral
12-29-21
Vanguard Short -Term
Admiral
TOTAL DISTRIBUTIONS 9,381.54
TOTAL GAINILOSS
7,924.98
An'*' denotes an average cost transaction,
Gain Or Loss
Proceeds
Short Term
Long Term
40,000,00
0.00*
66,000.00
0.00*
88,000.00
0.00*
37,765.18
-2,259.82
37,209.82
-1,351.61
199,975.00
2,154.87
2,154.87
0.00
-3,611.43
0.00
468,950 00
-1,456 56
0.00
35503
1,61244
486.34
236.19
114.89
101.10
1,109.89
56,62
452.35
36.25
2,508.73
2,311 71
680.31
8,701.23
-776.25
8,701.23
Garrison Asset Management
PERFORMANCE SUMMARY
GROSS OF FEES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
December 31, 2021
PORTFOLIO COMPOSITION
Market Pet.
Value Assets Yield
Cash & Equivalents
206,649.85
12.6 0.0
Money Market
0.00
0.0 -
Account Fixed
1,435,457.80
87.4 1.6
Income
Account Equities
0.00
0.0 -
Account
0.00
0.0 -
Commodities
Total
1,642,107.65 100.0 1.4
CHANGE IN PORTFOLIO
Portfolio Value on 12-31-20
1,984,177.36
Accrued Interest
583.33
Net Additions/Withdrawals
-325,732.00
Realized Gains
-4,250.87
Unrealized Gains
-50,388.91
Income Received
37,718.74
Change in Accrued Interest
0.00
Portfolio Value on 12-31-21
1,641,524.32
Accrued Interest
583.33
1,642,107.65
TIME WEIGHTED RETURN
Annualized
Quarter Last 12 Inception
To Date Months To Date
Account -0.39 -0.70 5.05
Account Fixed Income -0.44 -0.83 2.95
Barclays Capital Intermed -0.42 -1.44 2.30
Govt/Credit
All "Account" returns refer to your portfolio. Benchmark indexes are also listed for reference. All returns are reported as
percentages.
This report is calculated using industry -standard accounting and performance calculation methodologies and is generated by our Axys
portfolio accounting software. Calculations are a time -weighted total return series based on monthly valuations, including all cash
f and equivalents. All calculations are done based on trade date, employing the accrual method of accounting and include cash,
interest, dividends and realized and unrealized gains and losses. Performance is adjusted to accurately reflect portfolio deposits and
withdrawals. Results are presented after transaction costs but before management fees. Inception -to -date returns are annualized
numbers, except for accounts under management less than one year. Unsupervised assets are excluded in performance calculation.
At any given point in time an investment may be worth more or less than the original purchase price.
GARRISON
ASSET MANAGEMENT
January 7, 2022
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
113 West Mountain Street
Fayetteville, AR 72701-6069
STATEMENT OF MANAGEMENT FEES
For The Period October 1 through December 31, 2021
Portfolio Value as of 09-30-21
1,650,866
Portfolio Value as of 10-31-21
1,642,529
Portfolio Value as of 11-30-21
1,640,329
Portfolio Value as of 12-31-21
1,642,108
Average of 4 Months
1,643,958
1,643,958 @ 0.1500% per annum 616
Quarterly Management Fee 616
TOTAL DUE AND PAYABLE 616
This statement is for informational purposes only. As you requested, the fee will be automatically
deducted from your account. Please be advised that it is the responsibility of the client to verify the
accuracy of each fee calculation. The custodian will not determine whether the fee is properly calculated.
om^j GARRiSON
ASSET MANAGEMENT
April 8, 2022
RECEIVED
Ms. Kara Paxton
City of Fayetteville APR 11202Z
113 West Mountain Street
Fayetteville, Arkansas 72701-6069 S�pF�
Dear Ms. Paxton,
Enclosed is your quarterly report for the quarter ended March 31, 2022.
The headwinds we were expecting in 2022 showed up in full force the first three months of the year. These
headwinds in addition to the tragic Russian invasion of Ukraine combined to push both the equity and fixed
income markets into the red for the quarter. Stocks retreated -4.6% as measured by the S&P 500 and the bonds
were down -4.50% as measured by the Barclays Intermediate Govt./Corp. index. The tech heavy Nasdaq recorded
a loss of almost double that of the S&P 500 retreating-8.94%. This was the first negative quarter for stocks since
the outset of the pandemic in the first quarter of 2020. The bond market clocked its second consecutive negative
quarterly return after losing -.42% in the fourth quarter of 2021.
Equities staged a rally during the last half of March which erased over half of the quarter's earlier declines. The
S&P 500 traded in correction territory earlier in the quarter (-10% decline) and the NASDAQ and Russell 2000
(technology and small cap indexes) dipped into bear market territory (-20% decline). International equity markets
were also weak with the developed market index down -5.77% and emerging market index down -6.99% as the
risk -off trade reverberated across the globe. Only two sectors posted positive returns for the quarter, with Energy
and Utilities gaining +37.66% and +3.96% respectively. Communication Services, Consumer Discretionary and
Information Technology were the worst performers down-12.11%, -9.19% and-8.55%.
We expect heightened volatility the rest of the year will be driven by actions at the Fed, inflation data and
economic growth concerns. Current issues include: 1) the annual inflation rate through February is 7.9%, the
highest since 1982 (used car prices are up 41% (not a typo) in the 12 months ending February), 2) attempting to
reduce the amount of money the Federal Reserve pumps into the financial system every month, 3) a stock market
that might not take kindly to having less cash in the system, and 4) employment, not in the form of actual job
"creation" but in the form of people returning to work post -pandemic. There is a big difference — don't be fooled
by media headlines of "job creation." However, there remains a shortage of workers, from entry level jobs to
pharmacists at the corner drug store. Many simply don't want to work, and many cannot be found to fill these
positions. It's a paradox that is not easily explained nor easily understood.
Inflation can be characterized in several ways, but in its simplest form it's too much money chasing too few goods.
In other words, there remains a ton of cash (liquidity) in the system, but the amount of goods is still being
negatively constrained by ongoing supply chain issues and worker availability.
Garrison Asset Management
605 W. Dickson Street, Suite 201 • Fayetteville, Arkansas 72701
479-587-1045 • 888-442-7637. 479-587-1257 Facsimile • www.GarrisonFinancial.com
So, what does the Fed do? They raise interest rates attempting to slow inflation. This is a negative for the bond
market short term, but positive and manageable longer term as money can be invested at higher rates, thus
earning higher returns. Also negative for stocks in the short term, but over the long term, stocks are the best way
to protect you from inflation.
The Fed has raised rates by 25 basis points or one quarter of one percent this year. There is jawboning from the
Fed that they would like to raise rates 6 or 7 times this year. The market is not completely convinced that rates
can rise that much for several reasons, including: 1) higher rates lower inflation but also typically lower economic
growth (think housing and other large -ticket items), 2) the effects on financial markets, and 3) the Fed has an
intrinsic bias to not raise rates because higher rates will increase the amount money we have to pay on our debt
and because the social benefit structure in our country is largely driven by COLAs (cost of living adjustments).
Striking the perfect balance between raising rates enough to tame inflation but not too much as to derail the
economy is a delicate balance. We expect elevated inflation will be around for the foreseeable future as supply
chains continue to adjust from their pre -pandemic state and the Russia/Ukraine conflict pressures commodity
prices. Interest rates will continue their upward bias and stock market volatility will likely be the norm in the
short-term.
Now is a good time of year to review your financial goals and objectives. If anything has changed in your personal
financial situation that we should be aware of, let's visit.
As is usual this time of year we have included a copy of our Privacy Policy and a summary of material changes to
our Form ADV Part II (there were none) for your review in addition to our form CRS. If you would like to receive a
copy of our entire Form ADV Part II (our "Brochure" as the SEC calls it) please e-mail or call any member of our
investment team.
As always, it is a pleasure serving you and we appreciate your confidence in our firm. If you should have any
questions, please call the office.
Cordially,
,K�
Kerry Bradley, CFA, MBA
Equity Portfolio Manager
Garrison Asset Management
605 W. Dickson Street, Suite 201 • Fayetteville, Arkansas 72701
479-587-1045 • 888-442-7637. 479-587-1257 Facsimile • www.GarrisonFinancial.com
omj' GARRISON
ASSET MANAGEMENT
Privacy Policy Notice
At Garrison Asset Management we realize the importance of maintaining a confidential relationship between client and investment manager. We
understand that you have entrusted our firm with confidential information about yourself and your investments as part of the ongoing process of our
firm providing you with investment management services. It is our policy to maintain the highest level of confidentiality with this information, ensuring
the continued trust that you have come to expect from our firm.
Due to existing legislation, and to reiterate our commitment to confidentiality, we have adopted this Privacy Policy
1) We do not sell information you provide to us to anyone.
2) We do not disclose personal information about you unless this disclosure occurs under the following conditions
a) As part of the normal course of providing investment management services to your account, we routinely disclose information to your
custodian. These companies provide safekeeping services for the securities in your account and we regularly communicate with them
regarding transactions affecting your account, among other account -related details that are necessary to provide our services to you.
Information may also be disclosed to other non -related third -party affiliates such as accountants and attorneys upon request by the client.
b) We may disclose or report personal information about you in certain limited circumstances where we believe that such disclosure is required
or permitted by law. Such disclosure may include cooperation with regulators or law enforcement agencies, or other instances as required
by law.
c) To assist us in providing our services to you by our third -party service providers and our ongoing evaluation of those services, including
those that maintain our financial services and products for you, and those that provide us with technical and IT support.
d) To carry out internal audits, statistical analysis and record keeping activities in conjunction with our third -party providers.
e) For institutional accounts, we may also disclose information about your account to your investment consultant where we have knowledge of
your ongoing relationship with a consultant or in specific instances where you instruct us to disclose information about your account.
f) If we vote proxies on your behalf, we will disclose all or a portion of your account(s) with us to the independent, third -party we retain for proxy
voting services.
g) To an intermediary when you choose to transfer your account(s) with us to another service provider.
3) As part of our initial and ongoing service to you we collect personal information when you establish a client/investment manager relationship with
us. During this relationship we continue to collect information about your account from your custodian in an effort to provide our service to your account.
We also collect and maintain information about transactions we conduct on your behalf including account balances, positions, and account history,
among other information. We may also collect information about you when you visit our website.
4) We continually safeguard the information you provide to us.
a) Our portfolio accounting is conducted in-house and we do not disclose information about your account to any third party except as described
above. However, as part of our in-house portfolio accounting, we do share information about your account with our portfolio software vendors
including Axys and Black Diamond, both products of Advent Software.
b) Our employees are trained and instructed to use personal information you have entrusted to us for legitimate business purposes only.
c) We maintain physical, electronic and procedural safeguards to protect personal information you provide to us.
5) We will update you on future changes, if any, in our Privacy Policy. We value your trust and carefully handle information we possess about you.
All Garrison Asset Management associates who have access to your information are bound by the code of conduct that requires the confidential
treatment of Customer Information, and they are subject to disciplinary action if they fail to follow this code.
In relation to Garrison Asset Management's Privacy Policy and in order to ensure the protection of confidential company and client information, the
following procedures should be followed:
1) Employees may not disclose client information outside the firm except as provided for in the Privacy Policy, or as expressly directed
by the client.
2) Employees should take the necessary steps and precautions to ensure the safekeeping of client files, both physical and electronic.
3) Employees should ensure that no client information is readily visible in public areas of the firm when visitors are present.
4) Access to files should be limited to employees of the firm, regulatory agencies as required, and entities to which you request we
provide information.
If you have questions about this policy, please contact:
Glenn E. Atkins, CFA, MBA
Chief Compliance Officer
Garrison Asset Management, LLC
605 W. Dickson St., Suite 201
Fayetteville, AR 72701
479-587-1045
atkins a�rrisonfinancial.com
www. a a rri son fi na nci a 1. com
This policy was last updated March 2022.
Updated March 16, 2022
A Summary of Your Advisory Relationship with Garrison Asset Management, LLC (GAM)
GAM is employee -owned and registered with the SEC as an investment advisor. Brokerage and investment advisory services and
fees differ, and it's important for you to understand the differences. Free and simple tools are available to research firms and
financial professionals at www.investor.gov/crs which also provides educational materials about broker dealers, investment
advisors, and investing.
What investment services and advice can you provide me?
We offer investment management services on a discretionary basis to institutional and
retail investors, which means we initiate buys and sells in your portfolio based on your
investment policy statement. "Discretionary" means that you will be notified of these
buys and sells after they occur. We provide you with continuous monitoring of your
portfolio. We do not provide investment planning or similar services on an hourly basis,
nor do we offer wrap -fee programs.
Our stated account minimums are $100,000 for an all equity portfolio and $250,000
for a balanced portfolio that includes both stocks and bonds. Please see Item 4 —
Advisory Business in Part II of our form ADV, available here garrisonfinancial.com/form-
adv-ii/.
All three of our investment professionals hold the globally recognized Chartered
Financial Analyst (CFA) designation issued by CFA Institute in Charlottesville, VA. The
Institute describes the CFA as "the highest distinction in the investment management
profession..." More information is available here cfainstitute.ore/en. Two of our
professionals have Bachelor of Science in Business Administration degrees (with
concentrations in finance) from the University of Arkansas at Fayetteville. Both
individuals also hold MBA degrees from the University of Arkansas at Fayetteville. One of
our professionals holds a Bachelor of Science in Management degree from Tulane
University in New Orleans.
All three professionals hold the Series 65 license, which is the securities license
required for individuals to act as investment advisers in the United States. Members of
our professional team have been managing investment portfolios together since 1999
and at other firms prior to 1999.
What fees will I pay?
As we are a fee -based advisor (and not commission -based) you will pay fees whether
you make or lose money on your investments. Fees and costs will reduce any amount of
money you make on your investments over time. Please make sure you understand what
fees and costs you are paying.
Our fees are based on the amount of money we manage on your behalf and start at 1%
annually and are billed quarterly in arrears. Account balances are averaged over the
quarter or account balances are computed at each quarter -end. One -quarter of the 1%
annual fee is billed at the end of each quarter, after we have performed our services for
you.
As an example, if we invested $10,000 for you and that was your account balance over
the course of a year, our annual fee would be $100; of that amount, $25 would be billed
each quarter. If we select a mutual fund or an exchange -traded fund (ETF) for your
account, we do so because we believe it to be in your best interest, and you will also pay a
fee to the mutual fund company or ETF sponsor. We do not receive any part of the
mutual fund or ETF fee. Our primary custodian provides commission -free equity trades
with electronic confirmations. For more information, please see Item 5 — Fees and
Compensation in Part II of our form ADV, available here garrisonfinancial.com/form-adv-
iiL
Given my financial situation, should I
choose an investment advisory
service? Why or why not?
How will you choose investments
recommended to me?
What is your relevant experience,
including your licenses, education,
and other qualifications? What do
these qualifications mean?
Help me understand how these
fees and costs might affect my
investments.
If I give you $10,000 to invest, how
much will go to fees and costs, and
how much will be invested for me?
Garrison Asset Management, LLC • 605 W. Dickson • Suite 201 • Fayetteville, AR 72701 •479-587-1045 • garrisonfnanciaLcom
Updated March 16, 2022
What are your legal obligations to me when acting as my investment advisor? How else does your firm make money and
what conflicts of interest do you have?
All our investment professionals are Chartered Financial Analysts (CFA) and subscribe
to the CFA Code of Ethics and Standards of Professional Conduct available here
garrisonfinancial.com/codi?-of-ethic5/.
When we act as your investment adviser, we are required to act in your best interest
and not put our own interests ahead of yours.
At the same time, the way we make money creates some conflicts with your interests.
You should understand and ask us about these conflicts because they can affect the
investment advice we provide you.
Here are some examples to help you understand what this means. For example, many
times we invest on our own behalf in the same securities we include in your portfolios. All
these securities are highly liquid and are widely available in public securities markets.
Please see Item 11(c) in our ADV Part II available here garrisonfinancial.com/form-adv-ii/.
Additionally, we may increase our fee -based compensation if we recommend a rollover
from your 401(k) to an account managed by us.
How do your financial professionals make money?
How might your conflicts of interest
affect me, and how will you address
them?
Our financial professionals are compensated with a base salary and a bonus based on Do you make money from sales
the overall profitability of the firm. All financial professionals are also owners of the firm. commissions, product
We are not compensated individually based on 1) a particular account under our recommendations, or investment
management, 2) time and complexity required to meet your needs, and 3) product sales selection?
or commissions.
We do not earn commissions on the trading we conduct in your accounts. Please see
Item 5 — Fees and Compensation in Part II of our form ADV, available here
garrisbnfinancial.com/form-adv-ii/.
Do you or your financial professionals have legal or disciplinary history?
No. As a financial professional, do you
have any disciplinary history? For
what type of conduct?
Additional Information
As we are a small, four -person firm, you may contact any of us with questions
Who is my primary contact person?
regarding your account and our services. All of our investment professionals are
Is he or she a representative of an
investment advisers of the firm. If you have concerns regarding our personal conduct you
investment -adviser or a broker -
may contact the president of our firm, Kerry W. Bradley, CFA, MBA by phone at 479-587-
dealer? Who can I talk to if I have
1045 or by email at kbradlevPgarrisonfinancial.com
concerns about how this person if
To find more information about Garrison Asset Management, LLC or to obtain
treating me?
additional copies of this form CRS, please visit our website at www.garrisonfinancial.com
or call 479-587-1045 or toll free 888-442-7637.
Garrison Asset Management, LLC • 605 W. Dickson •Suite 201 • Fayetteville, AR 72701 •479-587-1045 • gorrisonfinoncial.com
ITEM 2 — MATERIAL CHANGES
April 11, 2022. The following discusses only the material changes since the last annual update of our brochure,
which occurred in March of 2021.
No material changes have occurred at Garrison Asset Management since the last annual update of our
brochure.
If you would like to obtain a free copy of our updated brochure in printed or electronic form, please contact:
Garrison Asset Management
605 W. Dickson Street
Suite 201
Fayetteville, AR 72701
479-587-1045
888-442-7637 Toll Free
Or e-mail Glenn E. Atkins, CFA, MBA — Chief Compliance Officer at ealkimL&Uarrisonfinancial.com
RECEIVED
APR 112022
CITY CF 14YETTE�►�L
CITY rCLEaas Dl
*I,
GARRISON
ASSET MANAGEMENT
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
Quarter Ending March 31, 2022
PORTFOLIO SUMMARY
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2022
86.9%
■ Cash & Equivalents 204,796.66
■ Account Fixed Income 1,360,106.76
Gamson Asset Management
PORTFOLIO APPRAISAL
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2022
Adj Unit Total Adjusted Market Pct. Unit Annual
Quantity Security Cost Cost Price Value Assets Income Income Yield
CASH AND EQUIVALENTS
Schwab Bank Sweep 204,796.66 204,796.66 13A 0,010 2048.0.0
CORPORATE BONDS
50,000 IBM Corp.
7-000% Due 10-30-25
Accrued Interest
MUTUAL FUNDS
12,366,035
Vanguard Admiral
Intermed-term Treasury
9,191.176
Vanguard Admiral
Short -Term Treasury
3,676.471
Vanguard Core Bond
Admiral Shares
3,046.1 12
Vanguard Intermed
Bond Admiral
8,453.085
Vanguard
Intermed-Term Bond
Index
25,162.828
Vanguard Intermediate
Admiral
58,672.725
Vanguard Short -Term
Admiral
TOTAL PORTFOLIO
204,796 66
204,796.66
13.1
20.48
0.0
100,00
50,001 17
11284
56,421.00
3.6
7.000
3,500.00
3.2
1,458,33
0.1
50,00117
57,879,33
3.7
3,500.00
3.2
12.13
150,025.00
10.72
132,563.90
8 5
0 130
1,607.58
1.2
10 88
100,025.00
10.34
95,036.76
6.1
0,050
459.56
0.5
20.41
75,025.00
19.87
73,051 48
47
0.280
1,029.41
1 A
2463
75,025.00
23.17
70,578.42
4.5
0.550
1,675.36
2.4
1 l_83
100,025.00
11.09
93,744 71
6.0
0.220
1,859.68
2.0
10.39
261,463.57
9,21
231,749.65
14.8
0230
5,787,45
2.5
10.86
637,204.87
10,32
605,502,52
387
0 180
10,561.09
L7
1,398,793 44
1,302,227.43
832
22,980.14
1.8
1,653,591.28
1,564,903.42
100.0
26,500.62
1.6
You should carefully compare this statement to the statement you receive from your custodian and notify us immediately of any discrepancies.
Garrison Asset Management
REALIZED GAINS AND LOSSES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
From 01-01-22 Through 03-31-22
Gain Or Loss
Open Close
Cost Amort. or
Date Date Quantity
Security Basis Accretion Proceeds
Short Term
Long Term
TOTAL GAINS
0.00
0.00
TOTAL LOSSES
0.00
0.00
0:00 000 0.00
0.00
000
TOTAL REALIZED GAIN/LOSS
0.00
CAPITAL GAIN DISTRIBUTIONS
03-31-22
Vanguard Intermed-Term
24.51
Bond Index
TOTAL DISTRIBUTIONS
24.51
0.00
24.51
0.00
24.51
TOTAL GAIN/LOSS
24.51
Garrison Asset Management
PERFORMANCE SUMMARY
GROSS OF FEES
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
March 31, 2022
PORTFOLIO COMPOSITION CHANGE IN PORTFOLIO
Market Pct.
Value Assets Yield
Cash & Equivalents
204,796.66 13.1 0.0 Portfolio Value on 12-31-21
1,641,524.32
Money Market
0.00 0.0 - Accrued Interest
583.33
Account Fixed
1,360,106.76 86.9 1.8 Net Additions/Withdrawals
-7,616.00
Income
Account Equities
0.00 0.0 - Realized Gains
0.00
Account
0.00 0.0 - Unrealized Gains
-76,226.04
Commodities
Income Received
5,762.81
Change in Accrued Interest
875.00
Portfolio Value on 03-31-22
1,563,445.09
Accrued Interest
1,458.33
Total
1,564,903.42 100.0 1.6
1,564,903.42
TIME WEIGHTED RETURN
Annualized
Quarter
Last 12
Inception
To Date
Months
To Date
Account -4.25
-3.36
4.47
Account Fixed Income -4.86
-3.93
2.38
Barclays Capital Interned -4.50
-4.09
1.78
Govt/Credit
All "Account" returns refer to your portfolio. Benchmark indexes are also listed for reference. All returns are reported as
percentages.
This report is calculated using industry -standard accounting and performance calculation methodologies and is generated by our Axys
portfolio accounting software. Calculations are a time -weighted total return series based on monthly valuations, including all cash
and equivalents. All calculations are done based on trade date, employing the accrual method of accounting and include cash,
interest, dividends and realized and unrealized gains and losses. Performance is adjusted to accurately reflect portfolio deposits and
withdrawals. Results are presented after transaction costs but before management fees. Inception -to -date returns are annualized
numbers, except for accounts under management less than one year. Unsupervised assets are excluded in performance calculation.
At any given point in time an investment may be worth more or less than the original purchase price.
110),
GARRISON
ASSET MANAGEMENT
April 8, 2022
City of Fayetteville Firemen's Pension & Relief Fund
Charles Schwab #7851-1206
113 West Mountain Street
Fayetteville, AR 72701-6069
STATEMENT OF MANAGEMENT FEES
For The Period January 1 through March 31, 2022
Portfolio Value as of 12-31-21 1,642,108
Portfolio Value as of 01-31-22 1,617,538
Portfolio Value as of 02-28-22 1,605,208
Portfolio Value as of 03-31-22 1,564,903
Average of 4 Months 1,607,439
1,607,439 @ 0.1500% per annum 603
Quarterly Management Fee 603
TOTAL DUE AND PAYABLE 603
This statement is for informational purposes only. As you requested, the fee will be automatically
deducted from your account. Please be advised that it is the responsibility of the client to verify the
accuracy of each fee calculation. The custodian will not determine whether the fee is properly calculated.
*M
Schwab One® Trust Account of
L JORDAN & K PAXTON WEE
CITY OF FAYETTEVILLE FIREMEN'S
U/A DTD 08/26/1924
Need help reading this statement?
Visit www.schwab.com/StatententHelp for more information.
rn rn
Z co
W Co
2 r
W W O
W Cc I --
CM
FL CM
Z W
O�
XW�-CMz
YWasPW
} N Z J_
ZLQLo=>
Qu_02H
�0W o�
O Q coLL
Account Number Statement Period
7851-1206 March 1-31, 2022
Your Independent Investment Manager and/or Advisor
GARRISON ASSET MANAGEMENT
605 W DICKSON ST STE 201
FAYETTEVILLE AR 72701-5167
1 (479) 587-1045
The custodian of your brokerage account is: Charles Schwab & Co., Inc
Table of Contents Page
Termsand Conditions..................................................................................................2
Changein Account Value.............................................................................................3
AssetComposition................•-----.........................................-----------.............................3
IncomeSummary.........................................................................................................4
Cash Transactions Summary .......................................................................................A
TransactionDetail.........................................................................................................7
Bank Sweep for Benefit Plans Activity...........................................................................8
Endnotes For Your Account..........................................................................................8
Page 1 of 9
03131-67059-TTCE 1305145532 ' 1-4
91Rl LYlolo
to
Schwab One® Trust Account of
L JORDAN & K PAXTON TTEE
CITY OF FAYETTEVILLE FIREMEN'S
U/A DTD 08/26/1924
'berms and Conditions
GENERA, INFORMATION AND KEY TERMS:
This Account statement is furnished solely Charles Schwab &
Co.. Inc. ("Schwab") for your Account at S ►ti-ab ("_Account"). Unless
otherwise defined hemiu, capitalat d terms have the same meanings as
in yotn Account Agr�m w: If you re —five any other communication
from any source other than Schwab which purports to r-epresenit your
holdings at Schwab (including balances held at a Depository Institution)
you should verify its content with this. statement.
AIP (.Aittomatic Investment Plan) Customers: Schwab recciv-q
reunneration in connection with certain transactions effected through
Schwab. If you participate in a systematic investment program through
Schwab, the additional information normally detailed on a trade
coafirmntion will be provided upon request.
Average Daily Balance: Average daily p�sYte of all cash balances
that cam interest and all loans from Schwac h t2tat are charged interest -
Bank Sweep aad Bank Sweep for Renelit Plans Features: Schwab acts
as your agent and custodian in establishing and maintainin your
Deposit Accounts) as a feature of your brokerage ace mints). Deposit
accounts held througb bank sweep features conatituu direct obliggaations of
one of more FDIC msured banks ("Affiliated Backs") that are airiiiated
with Schwab and are not obli2�ations of Schwab. Funds swept to Affiliated
Banks are eligible for deposit insurance from the FDIC up to the
applicable limits for each bank for funds held in the satue insurable
capacity. The balance in the Deposit Accounts care be ►►ithdrawu an your
order and tine proceeds returned to your brokerage account or .tte- to
you as provided in your Account Agreement. For information on FDIC
insurance and its limits, as well as other important disclosures about the
bank sweep fcature(s) in pour account please: rdfor io the Cash Features
Disclosure Statement available online or from a Schwab representative.
Cash: Any Free Credit Balance owed by us to.you payable upon
demand which, although accounted for on our books of record, is not
Il Wed. and may be used in the conduct of this Ran's business.
d Reinvestment Customers. Dividcad reinvestment
transactions were effected by Schwab acting as a principal for its own
account, except. for the reinvestment of Schwab dividends for which an
indepp ent broker -dealer acted as the buying agent. FurtL -information
on tfies transactions will be furnished upon written request.
faterest: For the Schwab One Interest. Bank Sweep, and Bank Sweep for
Benefit Plans features, interest is paid for a period that may differ from
the Statement Period. Balances include interest paid as indicated on your
statement by Schwab or one or more of its Affiliated Banks. These
balances do not include interest that may have accrued during the
Statement Period alter intcNA is paid- The interest paid may include
interest that accrued in the prior Statement Period. For the Schwab One
Interest feattim, interest aecrtes daily from the second-to4ast business
day
of the prior month and is posted on the second-lo-last business day
of the current month. For.the bank sweep. feature(s), interest acemes
dotty from the 16th day of the prior month and is credited)p�ted
on the first business day after the 150 of the current month.
It on any given day, the interest that Schwab calculates for the Free:
Credit Balances in rho Schwab One Interest teature, in your brokerage
accetiat is less than 5.t105 y in will not atxrac any intc-rest on [hat
day. Far balances held al �ianks affiliated with Schwab in the
Bank Sweep and Bank Sweep for Benefit Plans features, interest will
accrue even if the amount is less than S.005.
Margin Account Customers: This is a combined statement of your
margin accrnmt and special memorandum account maintained for you
un&r Section 220.5 of Regulation T issued by the Board of Governors
of the Federal Reserve System. The permancat record of the separate
account as mqui red by Regulation T is available far your inspection.
Securities purchased on margin are Schwab's collateral for the loan
W you. It is important that you fully understand the risks involved
in trading securities on margn. These risks include:
■ You can lose more hinds (ban you &- resit in the margin accauut
• Schwab can force the sale- of securities or other asses m a of
your account(%) to maintain the required account equity ,1415 t
contacting you.
• You are not entitled to choose which assets are liquidated nor are
you entitled to an extension of time on a margin call.
• Schwab can inc maseboth its "house" maintenance norm
mguitemrents and the maintenance Margin requiTern foryour
Account at any time without advance written notice W you.
Market Price: The most recent price evaluation available to Schwab
on the last business day of the report Period, normally (he, Iasi trade
price or bid as of market close, ilnprrced securities denote that not
ararketevaluation update is currently available. Price evaluations are
obtained from outside parties. Schwab shall have no responsibility far
the accuracy or timeliness of any such valuations. Pricing of assets not
held at Schwab is for informational purposes only Some securities,
especially thinly traded equities in the U'1 C market or fen-i o markets,
may nol report the most current price and are indicated as Stale Priced.
For Limited Partnerships and Rail Estate Investment Trust (RE IT)
securities, you may see that the value reflected on your monthly
account statement for this security, rity, is unprimd. NASD riles require
that certain Limited ltartneish s ([direct participation programs) and
Real Fstate Investment Tmst ('�EIT) securities, that have not been
paced within 18 mono hs, must show as tmprit ed on customer statements.
Matz that [hie securities are generally illiquid, the value of
the securities will be different than its purchase price, and, if
applicable, that accurate valuation information may not be available.
Market Value: The Market Value is computed by multiplying
the Market Price by the Quantity of Shares. This is the dollar value of
your present holdings in your specified Schwab Account or a summary
of the Marken Value summed over multiple accounts.
Non-Puhliciv Traded Securities; All assets shown on this statement.
other than certain direct investments which may be held byy a third
party, are held in your Account. Values of certain Non-Qicly
Traded Securities Wray tie furnished t a third party as provided
by Schwab's Account Agreement. Schwab shall have no responsibility
for the accuracy or time:Gn� of such valuations. The Secnt cures
Investor PtWx-coon Corporation (SIPC) does not cover many limited
ppaartaership interests.
Seltwah Sweep Mone Funds: Includes the primary money market
funds into which Frirerlit Balances may be autamalieslly invested
pursuant to your Account Agmement Schwab or an affiliate acts and
receives compensation as the Investment Advisor, Transfer Agent,
Shareholder Service Agent and Distributor for the Schwab Sweep
Money Funds. The amount of such compensation is disclosed in the
prospectus The yyttelct information for Schwab Sw[� Money Funds
is: the Current 7-day yield as of the statement period. Yields vary.
If" any viveu day, the accrued daily dividend for your selectad
svr fund as calculated for your account is less than !• of I
resat (St1� your account ►vi71 not earn a dividend for that day.
In addition, if you do not accrue at least I daily dividend of S0.01
during a pay period, you will not receive a money market dividend
for that period Schwab and the Schwab Sweep Money Funds
investment advisor may be voluntarily reducing a portion of a Schwab
zs p Money Fund's expenses. Without these reducuons, yields
would have been lower.
Securities Products and Services: Securities products and services
Account Number
7851-1206
Statement Period
March 1-31, 2022
are offered by Charles Schwab & Co.. Inc., Member SIPC. Securities
produ is and sereices, including unswept intraday funds and net credit
balances held in brokerage accounts are ncil deposits or other
obligations of, or guaraaieed by, any bank, an: not FDIC insured, and
are subject to investment risk and may lose value. SIPC does not cover
balances held at banks affiliated ►►ith Schwab in the Bank Swce-P
and Bank Sweep for Benefit Plans features. Please see: your Cash
Feature Disclosure Statement for more information on insurance coverage -
Yield to Alaittrity: This is the actual average annual return
on a note if held to maturittyy.
Gain (or Loss): Unrealized Gaia or (Loss) and Realized Gain or
(Lass) sections (-Gain+Loss Sections)-) contain again or a loss su unary
of your Account This information has been rrvided on this statement
at the request efyour Advisor. if applicable.�is information is not a
solicitation or a recommendation to usury or sell. Schwab dues tool
provide tax advice and encourages you to consult with _oar tax
professional- Please viewthe Cost Basis Disclosure Statement for
additional information on how gain (or loss) is calculated and how
Schwab reports adjusted east basis €nformation to the IRS.
Accrued Income: Accrued Income is the sum ofthe total seemed
interest and/or accrued dividends on positions held in your Account,
but the interest and/or dividends Lave notbeen received into your
accarxml. Schwab makes no rereppresentation that the amounts shown (or airy
other amount) will be mr-eeived. Accrued amounts are not covered by SIPC.
account protection until actually received and held in the Account.
IN CASE OF ERRORS OR DISCREPANCIES: Ifyou find an
error or discrepancy relating to your brokerage ac ivi7yy {other than
an electronic fund transfer) you must notify as pmmpt{y, but no later
than 10 days after this statement is seal or made available to you. if
Ibis statement shows (bat we have mailed or delivered security
certificate (s that on have not recefived,. oulify Schwab immeitiatety.
Y uu may gh us at 800-I35-d000. (Out side the U.S., call
+1415-W-WO.)) Ifyou're a client of an independent investment
advisor, call us ai80t1-515-2157- Any and cam municalions
should he re -confirmed in writing to furtker p roted your tights,
iodudmgg__ri;h(s under the Securities Investor Protechon -Act
(SIPA)- If van do not so nodfy as, you agree that the statement
eerier :till Recount balance are correct for all purposes with
res�to those brokerage transactions.
IN ASE OF COWLAiN'TS: If you have a complain( rc-gardingg
your Schtvub stalement, products or services, please write to the Ciienl
Advocacy Team at Charles Schwab & Co., Inc., Attention: Client
Advocacy Tmm, 211 Main St., San Francisco, CA 94105, USA,
or call Schwab Signature Alliance at 800-515-2157.
Address Chan es: If you fail to notify Schwab in writing of any change
of address or pone number, you may not receive important notifications
about your Accoim1, and trading or other restrictions might be placed on
your Account.
Additional Information:
We are required by law to mpon to the Internal Revenue Service
adjusted curt basis infatmatiou (if"
licable). cztain paynenls
to ytio and credas to your Acconrrt teng the calendar year.
Retain this statement for income tax pputtrrppooses. A financial statement
for your inspection is available at Schwab's offices or a cotpy will
be mailed to you upon wrinen nquest. Any thirdjparty trademarks
appeasing herein are the p of their respective owners.
c5 hwab and Charles Schwa k are affiliates of each other
and subsidiaries of the Charles Schwab Corporation.
C 2016 Charles Schwab & Co., Inc. ["Schwab"). All rights reserved.
Member SIPC.
(0221-117W)
001 11444W 1, 01,
Page 2 of 9
Schwab One® Trust Account of
L JORDAN & K PAXTON WEE
CITY OF FAYETTEVILLE FIREMEN'S
U/A DTD 08/26/1924
Account Number Statement Period
7851-1206 March 1-31, 2022
Account Value as of 03/31/2022:$1,563,445-10
Change in Account Value
This Period
Year to Date
Account Value [in Thousands]
Starting Value
$1,-604,060.29
$1,643,257.92
Credits -
2,083.89
5,762.81
2100
-----------
DeUds
-
1750
Transfer of Securities (In/Out)
_(7,000.00)_
.... D_00----------------------
_(9,349.59)
------------- - - 0.00
1400
Income Reinvested
..
- .- 0.00
-0.00
1050
Chan a in Value of investments
35,699.08
76,226.04
Ending Value on 03/31/2022
$1,563,445.10
$1,5G U5.10
700
Accrued Incomed
1,468.06
3
- - ..
- ---
Ending Value with Accrued Incomes
--------------------------•----- -
$ 1,564,913.16
-
0
6/21 9/21 12/21 3122
Total Change in Account Value
$ (40,615.19)
$ (79,812.82)
Total Change with Accrued Incomes
(39,147.13)
Asset Composition
Market Value
% of Account Assets
Overview
Cash and Bank SweepA'$
$ 204.796.66
13%
Ma Income
56,421.00
4%
Bond Funds
1,302,227.44
83%
Total Assets Long
$1,563,445.10
Total Account Value
$1,563,445.10
100%
■ 13% Cash, Bank Sweep
[A,B]
® 4% Fixed Income
❑ 83% Bond Funds
Page 3 of 9
9lBl 111010 ................
Schwab One® Trust Account of
L JORDAN & K PAXTON TTEE
CITY OF FAYETTEVILLE FIREMEN'S
U/A DTD 08/26/1924
This Period
Account Number Statement Period
7851-1206 March 1-31, 2022
Year to Date
Income Summary
Federally Tax -Exempt
Federally Taxable
Federally Tax -Exempt
Bank Sweep Interest
0.00
1.59
0.00
Cash Dividends
0.00
2,057.79
0.00
Total Capital Gains Distributions
0.00
24.51
0.00
Total Income
0.00
7.083.89
0.00
Cash Transactions Summary
This Period
Starting Cash*
$209,712.77
Deposits and other Cash Credits
0.00
Investments Sold
0.00
Dividends and Interest
2,083.89
Withdrawals and other Debits
(7,000.00)
Investments Purchased
0.00
Fees and Charges
-- - ----- - — - --- —
--- -
------------- -- -
0.00
Total Cash Transaction Detail
(4,916.11)
Ending Cash; - - -
- — -
$ 204,796.66
Cash (includes any cash debit balance) held
in your account plus the value of any
cash invested in a sweep money
fund.
Federally Taxable
5.07
5,733.23
24.51
5,762.81
Year to Date
S 208,383-44
0.00
0.00
4,029.22
(7,000.00)
0.00
(616.00)
(3,5W.78)
$ 204.796.66
Please see "Endnotes for Your Account" section for an explanation of the endnote codes and symbols on this statement Page 4 of 9
R
Schwab One® Trust Account of
L JORDAN & K PAXTON TTEE
CITY OF FAYETTEVILLE FIREMEN'S
U/A DTD 08/26/1924
Investment Detail - Cash and Bank Sweep
Account Number
7851-1206
Cash Starting Balance Ending Balance
Cash 1,857.36 2,082.30
Total Cash 1AS7.36 2,082.30
Bank Sweep Starting Balance Ending Balance
CHARLES SCHWAB BANK 207,855.41 202,714.36
Total Bank Sweep " 207,855.41 202,714.36
Total Cash and Bank Sweep 204,796.66
Investment Detail - Fixed Income
Corporate Bonds Par Market Price
INTERNTNL BUSINESS 7%25 50,000.0000 112.84200
DUE 10/30/25
CUSIP: 459200AM3
MOODY'S: A3 S&P: A -
Total Corporate Bonds 50,000.0000
Total Faced Income 50,000.0000
Accrued Interest represents the interest that would be received if the fixed income investment was sold prior to the coupon payment.
Yield to Maturity is the actual average annual return on a note if held to maturity_
Statement Period
March 1-31, 2022
% of Account
Assets
<1 %
<1%
% of Account
Assets
13%
133%
13%
Market Value % of Account Assets
56,421.00 4%
Accrued Interest. 1,468.06
56,421.00 4%
Total Accrued Interest for Corporate Bonds_ 1,468.06
56,421.00 494
Please see "Endnotes for Your Account" section for an explanation of the endnote codes and symbols on this statement. Page 5 of 9
91/61 l4l010 ................
Y9
Schwab One® Trust Account of
L JORDAN & K PAXTON TTEE
chades
CITY OF FAYETTEVILLE FIREMEN'S
SCHWAI
U/A DTD 08/26/1924
Investment Detail - Mutual Funds
Bond Funds
Quantity
VANGUARD CORE BOND ADMIR
3,676.4710
AL
SYMBOL:VCOBX
VANGUARD INTERM-TERM BON
8,453.0850
D INDEX ADM
SYMBOL: VBILX
VANGUARD INTERM-TERM COR
3,046.1120
P BD IDX ADMIRAL
SYMBOL: VICSX
VANGUARD INTERM-TERM INV
25,162.8280
ESTMENT-GRDE ADM
SYMBOL: VFIDX
VANGUARD INTERM-TERM THE
12,366.0350
ASURY ADM
SYMBOL: VFIUX
VANGUARD SHORT-TERM INVE
58,672.7250
STMENT-GRADE ADM
SYMBOL: VFSUX
VANGUARD SHORT-TERM TREA
9,191.1760
SURY ADM
SYMBOL: VFIDX
Total Bond Funds 120,568.4320
Total Mutual Funds 120,568.4320
Market Price
19.87000
11.09000
23.17000
9.21000
10.72000
10.32000
10.34000
Account Number
7851-1206
Statement Period
March 1-31, 2022
Market Value
73,051.48
93,744.71
70,578.42
231,749.65
132,563.90
605,502.52
95,036.76
1,302,227.44,
1,302,227.44
% of Account
Assets
5%
6%
5%
15%
8%
39%
6%
83%
83%
Please see "Endnotes for Your Account" section for an explanation of the endnote codes and symbols on this statement. Page 6 of 9
00111444W M
Schwab One® Trust Account of
L JORDAN & K PAXTON TTEE
CITY OF FAYETTEVILLE FIREMEN'S
U/A DTD 08/26/1924
Investment Detail - Total
Transaction Detail - Deposits & Withdrawals
Transaction Process
Account Number Statement Period
7851-1206 March 1-31, 2022
Total Investment Detail 1,563,445.10
Total Account Value 1,563,445.10
�4x.'��-�'^-1' �!-i4-Z'
Date Date Activity Description Location
03/08/22 03/08/22 MoneyLink Txn Tfr ARVEST BANK, CITY OF FAYETTEV
Total Deposits & Withdrawals
The total deposits activity for the statement period was $0.00. The total withdrawals activity for the statement period was $7,000.00.
Transaction Detail - Dividends & Interest (including Money Market Fund dividends reinvested)
Transaction Process
Date
Date
Activity
03/15/22
03✓16/22
Bank Interest^,B
03/31/22
03/31/22
Cash Dividend
03/31/22
03/31/22
LT Cap Gain
03/31/22
03/31/22
Cash Dividend
03/31/22
03/31/22
Cash Dividend
03/31122
03/31/22
Cash Dividend
03/31/2-2
03/31/22
Cash Dividend
03/31/22
03/31/22
Cash Dividend
03131/22
03/31/22
Cash Dividend
Total Dividends & Interest
Description
BANK INT 021622-031522: SCHWAB BANK
VANGUARD CORE BOND ADMIR: VCOBX
VANGUARD INTERM-TERM BON: VBILX
VANGUARD INTERM-TERM BON: VBILX
VANGUARD INTERM-TERM COR: VICSX
VANGUARD INTERM-TERM INV: VFIDX
VANGUARD INTERM-TERM TRE: VFIUX
VANGUARD SHORT-TERM INVE: VFSUX
VANGUARD SHORT-TERM TREA: VFIRX
Total Transaction Detail
Please see "Endnotes for Your Account" section for an explanation of the endnote codes and symbols on this statement
Credit/(Debit)
_ (7,000.00)
(7,000.00)
Credit/(Debit)
f-59
127.21
24.51
159.51
145.82
505.51
190.38
824.19
104.17
2,083,89
(4,916.11)
Page 7 of 9
Schwab One® Trust Account of
L JORDAN & K PAXTON TTEE
CITY OF FAYETTEVILLE FIREMEN'S Account Number Statement Period
U/A DTD 08/26/1924 7851-1206 March 1-31, 2022
Bank Sweep for Benefit Plans Activity
Transaction
Date Transaction Description Withdrawal Deposit Balance A,B
Opening Balance " 207,855.41
03/01/22 Auto Transfer
BANK CREDIT FROM BROKERAGE A
1,857.36
209,712.77
03/09/22 Auto Transfer
BANK TRANSFER TO BROKERAGE
7,000.00
202,712.77
03/15/22 Interest PaidR•e
BANK INTEREST - CHARLES SCHWAB BANK
1.59
202,714.36
----------------
03/15/22 Auto Transfer
BANK TRANSFER TO BROKERAGE
1.59
202,712.77
03/17/22 Auto Transfer
BANK CREDIT FROM BROKERAGE ^
1.59
202,714.36
Total Activity
7,001.59 1,860.54
Ending Balance AR
Bank Sweep for Benefit Plans_ Interest Rate as of 03131122 was 0.01 %. s
Endnotes For Your Account
202,714.36
Symbol Endnote Legend
d Accrued Income is the sum of the total accrued interest and/or accrued dividends on positions held in your brokerage account, but the income and/or dividends have not
been received into your account and Schwab makes no representation that they will. Accrued amounts are not covered by SIPC account protection until actually
received and held in the account.
A Bank Sweep deposits are held at FDIC -insured bank(s) ('Banks") that are affiliated with Charles Schwab & Co., Inc.
B For Bank Sweep and Bank Sweep for Benefit Plans features, interest is paid for a period that differs from the Statement Period. Balances include interest paid as
indicated on your statement by Schwab or one or more of its affiliated banks. These balances do not include interest that may have accrued during the Statement
Period after interest is paid. The interest paid may include interest that accrued in the prior Statement Period.
Please see "Endnotes for Your Account" section for an explanation of the endnote codes and symbols on this statement
Page 8 of 9
00111444W
9SM
Schwab One® Trust Account of
L JORDAN & K PAXTON WEE
CITY OF FAYETTEVILLE FIREMEN'S
U/A DTD 08/26/1924
Account Number Statement Period
7851-1206 March 1-31, 2022
Schwab Institutional is a division of Charles Schwab & Co., Inc., and provides back office brokerage and related services to independent investment advisors and retirement plan
providers. Schwab is a registered broker -dealer and is not affiliated with your Investment Advisor whose name appears on this statement ("Advisors") except in the case of
Charles Schwab Investment Advisory, Inc. ("CSIA" ), Schwab Private Client Investment Advisory, Inc. ("SPCIA" ), or an affiliated company that may act as the investment advisor
on a fund. Schwab neither endorses nor recommends any particular Advisor or its investment strategy and has no responsibility to monitor trading by any Advisor in your
Account. Schwab has not verified any statement accompanying any Advisor's logo appearing on this statement. Not all of these products and services may benefit your Account,
and Schwab may provide them to Advisors on the Advisor's commitment to place a certain amount of its clients' assets in brokerage accounts at Schwab within a certain period
of time. This commitment could influence an Advisor's recommendation or requirement that its clients establish brokerage accounts at Schwab. For questions about this
statement, or K there is a change in your financial situation, investment objectives, or risk profile, please contact your Independent Investment Manager and/or Advisor.
Please see "Endnotes for Your Account" section for an explanation of the endnote codes and symbols on this statement
Page 9 of 9
9ii9r rrtoto
0011 1444 W 99%
Lioneld Jordan Chairman
Kara Paxton Secretary
Roy Cate Position 1 Retired
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
October 28, 2021
Firemen's Pension & Relief Fund
Board of Trustees Minutes
October 28, 2021
Pagel of 3
Pete Reagan Position 2 Retired
Lonnie Napier Position 3 Retired
Ron Wood Position 4 Retired
Gene Warford Position 5 Retired
A meeting of the Fayetteville Firemen's Pension and Relief Fund Board of Trustees was held at
3:00 p.m. on October 28, 2021, in Room 326 & via teleconference of the City Administration
Building.
Mayor Jordan called the meeting to order.
Board Members Present: Roy Cate, Lonnie Napier, Pete Reagan, Gene Warford, Ronnie
Wood, City Clerk Treasurer Kara Paxton, Mayor Jordan, City Attorney Kit Williams
Absent: Gene Warford
Staff and Others Present: Kerry Watkins -Bradley & Glenn Atkins with Garrison Financial.
Garrison Financial:
Quarterly Reports ending 06/30/2021 and 09/30/2021
Glenn Atkins, Garrison Financial spoke about the fact that fixed income is still challenging. He
went on to explain that the market is still volatile, and rates are still low. He stated that the
withdraws have been about $356,000. During that time Garrison Financial sold $470,000 in order
to fund those distributions. He went on to explain that the market was flat for the quarter ending
in September 2021. The portfolio is down .39% YTD. Glenn stated he wants to monitor withdraws
and ensure that the portfolio is based around that.
Board Member Regan: I just want to thank the Garrison Financial Group for all they do.
Glenn Atkins: we really appreciate that.
Approval of the Minutes:
Approval of the April 29, 2021 Meeting Minutes
Board Member Pete Reagan moved to approve the April 29, 2021 meeting minutes. Board
Member Roy Cate seconded the motion. Upon roll call the motion passed 6-0.
Firemen's Pension & Relief Fund
Board of Trustees Minutes
October 28, 2021
Page 2 of 3
Gene Warford was absent
Pension List Changes:
None
Approval of the Pension List:
Approval of the Revised Pension Lists for November — December 2021 and January through
April 2022 Pension Lists
Board Member Pete Reagan moved to approve the November — December 2021 and January
— April 2022 Pension Lists. Board Member Roy Cate seconded the motion. Upon roll call
the motion passed 6-0.
Gene Warford was absent.
Unfinished Business:
None
New Business:
Revenue and Expense Report 06/30/2021 & 09/30/2021
Kara Paxton, City Clerk Treasurer: that is informational only. It is a report that the Accounting
Department puts together. Paul Becker would be able to provide additional information, but he is
not here today.
Osborn, Carreiro & Associates, Inc.
Kara Paxton, City Clerk Treasurer explained that this information was sent from the
Accounting Department as well. She went on to explain that there is an email in the packet that
shows who sent them the information. Kara went on to explain why several updates were made
to the packet and that the right documents had been sent regarding this item.
Board Member Pete Reagan: can we get, or do you have the information for the last 5 or 10
years about what our pension fund has been received. I know we get a big check and then it is
divided up.
Kara Paxton: Pete just to go back and answer the first question, the letter included in the packet
came from the PRAB staff. Regarding the second question, all of that is sent to the Accounting
Firemen's Pension & Relief Fund
Board of Trustees Minutes
October 28, 2021
Page 3 of 3
Department and we do not receive any notification for that. I can send this information to Paul
and ask that they get all that information to you.
Board Member Pete Regan: Mr. Chairman do you think that is a possibility.
Mayor Jordan: Yes, I think that is a possibility. There has to be a record there somewhere.
Board Member Pete Reagan: I think it is something that we need to keep tabs on.
NCPERS Invoice
Kara Paxton, City Clerk Treasurer: this is the invoice that we received from NCPERS today.
Notice that it has gone up from last year. It has now increased to $275.00. If you want to continue
to be a member of this group, we will need to pay this invoice for 2022.
Board Member Pete Regan: I would like to hear from the other Board Members. This is our
only advocacy group in Washington for public pension funds. The information contains good
information about what they are looking to do to our funds.
Board Member Ronnie Wood: I think it has a lot of great information in it. I would be in favor
of keeping it.
Board Member Roy Cate: I concur. I think it is money well spent.
Board Member Lonnie Napier: Likewise here. I think we need all the help we can get.
Board Member Pete Reagan moved to approve to pay the NCPERS Invoice. Board Member
Lonnie Napier seconded the motion. Upon roll call the motion passed 6-0.
Gene Warford was absent.
Informational:
2022 Meeting Schedule
Next Meeting — April 28, 2022
Adjournment: 3:16 PM
3/18/22, 3:35 PM
Obituary for Howard Lee Boudrey, Fayetteville, AR
NWA Screening Sites
Howard Lee Boudrey
NWA Vaccine Information Digital FAQ River Valley Democrat -Gazette i
Fayetteville, AR, 1942 - 2022
ADVERTISEMENT
Howard Lee Boudrey, was born September 14,1942, in
Aurora, Ark. He met the love of his life, our mother, Irma
Lee Fitch at Huntsville High School and they've been
together for over 60 years. He was a loving husband,
dad, grandfather, brother, and friend. Dad retired from
Fayetteville Fire Department as Captain after 22 years
of service. He was also a skilled carpenter, a poultry
farmer, and raised beef cattle. He loved being outdoors
hunting and fishing. He also enjoyed playing cards, being
with friends and family. He was always eager to tell a
good story especially if he could make you laugh. He
loved BIG and seemed to always be smiling.
He is survived by his wife Irma; his children Randy and
wife Carol, Tim and wife Lisa, and Sheila Fitts and
husband Billy; his grandchildren, and husband Chris,
Blake Neil, Logan Boudrey, Spencer Boudrey, Jessica
Brown and husband Bobby, Becca Celestine and
husband Trey and great- grandchildren, Ashtyn Burton,
Kason Herlein, Brinkley McKane, and baby Zarah
Celestine due to arrive anytime; also survived by his
brother, Jack and wife Pat; sisters, Betty Williams and Norma Spotts; and many more family and
friends.
Visitation will be at Beard's Funeral Chapel, Friday, March 18, 2022, from 5-7 p.m. Funeral services will
be Saturday, March 19, 2022, at Beard's Chapel at 10 a.m. Interment will be in Vaughan Cemetery in
Hindsville immediately following. In lieu of flowers, donations may be made to Susan G. Komen Ozark
to honor his granddaughter Melanie's battle with cancer or Fayetteville Firefighters Scholarship Fund,
P.O. Box 10437, Fayetteville. Ark., 72703. Condolences at: www.beardsfuneralchapel.com
https://www.nwaonline.com/obituaries/2022/mar/l 7/howard-boud rey-2022-03-17/ 1 /3
FIREMEN'S RELIEF AND PENSION
Apr 4 Revised Pension List
2022
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE
YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN,
AND FOR THE PURPOSE SO STATED.
DATE OF
Regular Mo
Year To Date
Act 1373 Hours
EMP# RETIREMENT
NAME
Benefit
Reg Benefit
Future Codes
Supplement for Fut Supp
177
4/04
BACHMAN, EDDIE
2,618.55
10,474.20
88830
68
7/99
BONADUCE, MICHAEL
2,988.76
11,955.04
88830
44
9/86
BOUDREY, BETTY MRS.
2,477.42
9,909.68
88830
45
9/86
BOUDREY, HOWARD deceased 3/15/22
0.00
6,267.84
88830
43
9/87
BOUDREY, IRMA
2,089.28
2,089.28
88830
49
7/88
BOUDREY, JACK
1,647.63
6,590.52
88830
57
5/90
CATE, ROY
1,788.90
7,155.60
88830
188
12/05
DOSS, MARION H
5,376.91
21,507.64
88830
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
2,926.44
192
4/06
FARRAR, DANNY
4,155.36
16,621.44
88830
170
5/03
FREEDLE, LARRY
3,816.75
15,267.00
88830
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
565.48
92
03/02
GAGE,TOMMY
2,596.69
10,386.76
88830
182
10/04
JENKINS, EILEEN
1,788.75
7,155.00
93
06/02
JENKINS, JOHN
1,788.76
7,155.04
88830
86
07/01
JOHNSON,ROBERT
3,073.47
12,293.88
88830
219
4/95
JORDAN, SANDRA K
2,274.95
9,099.80
88830
76
5/88
JUDY, JAN
1,647.63
6,590.52
88830
37
3/84
KING, ARNOLD D.
1,522.37
6,089.48
88830
54
5/89
KING, ARVIL
1,711.21
6,844.84
88830
173
12/03
LEDBETTER, DENNIS
3,775.80
15,103.20
88830
51
10/88
LEWIS, CHARLES
1,647.63
6,590.52
88830
202
02/08
MAHAN, MARSHALL
4,077.28
16,309.12
88830
MASON, DONNA
1,631.25
6,525.00
88830
35
2/82
MC CHRISTIAN, DWAYNE
109.27
437.08
88840
209
8/81
MILLER, ALICE GAYLE
1,304.07
5,216.28
88830
73
2/00
MILLER,KENNETH
3,180.02
12,720.08
88830
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
682.40
217
2/86
MOORE, BETTY L
109.27
437.08
88840
48
7/88
MULLENS, DENNIS W.
2,191.30
8,765.20
88830
184
3/05
NAPIER, LONNIE
3,518.28
14,073.12
88830
196
01/02
ONEAL, TEDDY
4,120.99
16,483.96
88830
5/88
OSBURN, VERNA
1,899.66
7,598.64
88830
81
02/01
PHILLIPS,LARRY
2,765.09
11,060.36
88830
203
02/08
PIERCE, JOEY
3,647.18
14,588.72
88830
53
2/89
POAGE, LARRY
2,346.70
9,386.80
88830
186
06/05
REAGAN, PETE
3,535.71
14,142.84
88830
41
9/85
SCHADER, TROY
1,524.99
6,099.96
88830
190
04/06
SHACKELFORD, GLEN
3,647.18
14,588.72
88830
SPRINGSTON, BARBARA
806.19
3,224.76
88830
165
12/02
TATE, RALPH
3,668.10
14,672.40
88830
71
1/00
WARFORD,THOMAS
2,502.72
10,010.88
88830
88
01/02
WOOD,RONNIE D
3,077.15
12,308.60
88830
208
9/88
WRIGHT, Barbara
1,691.34
6,765.36
88830
101,184.14
404,736.56
0.00
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\04 - April 2022 Fire WM
DATE OF Regular Mo Year To Date Act 1373 Hours
EMP# RETIREMENT NAME Benefit Reg Benefit Future Codes
Supplement for Fut Supp
0.00 Double check -- should be zero
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
0.00
CHAIRMAN AND PRESIDENT
YTD
6810-9810-5335-00
0.00
6810-9810-5335-06
0.00
Drop Payouttintrest Checks to Drop Retirees
0.00
YTD Column
0.00
Difference
0.00
404736.56
#REF!
"(should be off Supplemental amount for DROP par
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\04 - April 2022 Fire WM
FIREMEN'S RELIEF AND PENSION
May 5
2022
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE
YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN,
AND FOR THE PURPOSE SO STATED.
DATE OF
Regular Mo
Year To Date
Act 1373 Hours
EMP# RETIREMENT
NAME
Benefit
Reg Benefit
Future Codes
Supplement for Fut Supp
177
4/04
BACHMAN, EDDIE
2,618.55
13,092.75
88830
68
7/99
BONADUCE, MICHAEL
2,988.76
14,943.80
88830
44
9/86
BOUDREY, BETTY MRS.
2,477.42
12,387.10
88830
45
9/86
BOUDREY, HOWARD deceased 3/15/22
0.00
6,267.84
88830
43
9/87
BOUDREY, IRMA
2,089.28
4,178.56
88830
49
7/88
BOUDREY, JACK
1,647.63
8,238.15
88830
57
5/90
CATE, ROY
1,788.90
8,944.50
88830
188
12/05
DOSS, MARION H
5,376.91
26,884.55
88830
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
3,658.05
192
4/06
FARRAR, DANNY
4,155.36
20,776.80
88830
170
5/03
FREEDLE, LARRY
3,816.75
19,083.75
88830
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
706.85
92
03/02
GAGE,TOMMY
2,596.69
12,983.45
88830
182
10/04
JENKINS, EILEEN
1,788.75
8,943.75
93
06/02
JENKINS, JOHN
1,788.76
8,943.80
88830
86
07/01
JOHNSON,ROBERT
3,073.47
15,367.35
88830
219
4/95
JORDAN, SANDRA K
2,274.95
11,374.75
88830
76
5/88
JUDY, JAN
1,647.63
8,238.15
88830
37
3/84
KING, ARNOLD D.
1,522.37
7,611.85
88830
54
5/89
KING, ARVIL
1,711.21
8,556.05
88830
173
12/03
LEDBETTER, DENNIS
3,775.80
18,879.00
88830
51
10/88
LEWIS, CHARLES
1,647.63
8,238.15
88830
202
02/08
MAHAN, MARSHALL
4,077.28
20,386.40
88830
MASON, DONNA
1,631.25
8,156.25
88830
35
2/82
MC CHRISTIAN, DWAYNE
109.27
546.35
88840
209
8/81
MILLER, ALICE GAYLE
1,304.07
6,520.35
88830
73
2/00
MILLER,KENNETH
3,180.02
15,900.10
88830
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
853.00
217
2/86
MOORE, BETTY L
109.27
546.35
88840
48
7/88
MULLENS, DENNIS W.
2,191.30
10,956.50
88830
184
3/05
NAPIER, LONNIE
3,518.28
17,591.40
88830
196
01/02
ONEAL, TEDDY
4,120.99
20,604.95
88830
5/88
OSBURN, VERNA
1,899.66
9,498.30
88830
81
02/01
PHILLIPS,LARRY
2,765.09
13,825.45
88830
203
02/08
PIERCE, JOEY
3,647.18
18,235.90
88830
53
2/89
POAGE, LARRY
2,346.70
11,733.50
88830
186
06/05
REAGAN, PETE
3,535.71
17,678.55
88830
41
9/85
SCHADER, TROY
1,524.99
7,624.95
88830
190
04/06
SHACKELFORD, GLEN
3,647.18
18,235.90
88830
SPRINGSTON, BARBARA
806.19
4,030.95
88830
165
12/02
TATE, RALPH
3,668.10
18,340.50
88830
71
1/00
WARFORD,THOMAS
2,502.72
12,513.60
88830
88
01/02
WOOD,RONNIE D
3,077.15
15,385.75
88830
208
9/88
WRIGHT, Barbara
1,691.34
8,456.70
88830
101,184.14
505,920.70
0.00
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\05 - May 2022 Fire WM
DATE OF Regular Mo Year To Date Act 1373 Hours
EMP# RETIREMENT NAME Benefit Reg Benefit Future Codes
Supplement for Fut Supp
0.00 Double check -- should be zero
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
0.00
CHAIRMAN AND PRESIDENT
YTD
6810-9810-5335-00
0.00
6810-9810-5335-06
0.00
Drop Payouttintrest Checks to Drop Retirees
0.00
YTD Column
0.00
Difference
0.00
505920.70
#REF!
"(should be off Supplemental amount for DROP par
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\05 - May 2022 Fire WM
FIREMEN'S RELIEF AND PENSION
June 6
2022
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE
YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN,
AND FOR THE PURPOSE SO STATED.
DATE OF
Regular Mo
Year To Date
Act 1373 Hours
EMP# RETIREMENT
NAME
Benefit
Reg Benefit
Future Codes
Supplement for Fut Supp
177
4/04
BACHMAN, EDDIE
2,618.55
15,711.30
88830
68
7/99
BONADUCE, MICHAEL
2,988.76
17,932.56
88830
44
9/86
BOUDREY, BETTY MRS.
2,477.42
14,864.52
88830
45
9/86
BOUDREY, HOWARD deceased 3/15/22
0.00
6,267.84
88830
43
9/87
BOUDREY, IRMA
2,089.28
6,267.84
88830
49
7/88
BOUDREY, JACK
1,647.63
9,885.78
88830
57
5/90
CATE, ROY
1,788.90
10,733.40
88830
188
12/05
DOSS, MARION H
5,376.91
32,261.46
88830
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
4,389.66
192
4/06
FARRAR, DANNY
4,155.36
24,932.16
88830
170
5/03
FREEDLE, LARRY
3,816.75
22,900.50
88830
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
848.22
92
03/02
GAGE,TOMMY
2,596.69
15,580.14
88830
182
10/04
JENKINS, EILEEN
1,788.75
10,732.50
93
06/02
JENKINS, JOHN
1,788.76
10,732.56
88830
86
07/01
JOHNSON,ROBERT
3,073.47
18,440.82
88830
219
4/95
JORDAN, SANDRA K
2,274.95
13,649.70
88830
76
5/88
JUDY, JAN
1,647.63
9,885.78
88830
37
3/84
KING, ARNOLD D.
1,522.37
9,134.22
88830
54
5/89
KING, ARVIL
1,711.21
10,267.26
88830
173
12/03
LEDBETTER, DENNIS
3,775.80
22,654.80
88830
51
10/88
LEWIS, CHARLES
1,647.63
9,885.78
88830
202
02/08
MAHAN, MARSHALL
4,077.28
24,463.68
88830
MASON, DONNA
1,631.25
9,787.50
88830
35
2/82
MC CHRISTIAN, DWAYNE
109.27
655.62
88840
209
8/81
MILLER, ALICE GAYLE
1,304.07
7,824.42
88830
73
2/00
MILLER,KENNETH
3,180.02
19,080.12
88830
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
1,023.60
217
2/86
MOORE, BETTY L
109.27
655.62
88840
48
7/88
MULLENS, DENNIS W.
2,191.30
13,147.80
88830
184
3/05
NAPIER, LONNIE
3,518.28
21,109.68
88830
196
01/02
ONEAL, TEDDY
4,120.99
24,725.94
88830
5/88
OSBURN, VERNA
1,899.66
11,397.96
88830
81
02/01
PHILLIPS,LARRY
2,765.09
16,590.54
88830
203
02/08
PIERCE, JOEY
3,647.18
21,883.08
88830
53
2/89
POAGE, LARRY
2,346.70
14,080.20
88830
186
06/05
REAGAN, PETE
3,535.71
21,214.26
88830
41
9/85
SCHADER, TROY
1,524.99
9,149.94
88830
190
04/06
SHACKELFORD, GLEN
3,647.18
21,883.08
88830
SPRINGSTON, BARBARA
806.19
4,837.14
88830
165
12/02
TATE, RALPH
3,668.10
22,008.60
88830
71
1/00
WARFORD,THOMAS
2,502.72
15,016.32
88830
88
01/02
WOOD,RONNIE D
3,077.15
18,462.90
88830
208
9/88
WRIGHT, Barbara
1,691.34
10,148.04
88830
101,184.14
607,104.84
0.00
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\06 - June 2022 Fire WM
DATE OF Regular Mo Year To Date Act 1373 Hours
EMP# RETIREMENT NAME Benefit Reg Benefit Future Codes
Supplement for Fut Supp
0.00 Double check -- should be zero
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
0.00
CHAIRMAN AND PRESIDENT
YTD
6810-9810-5335-00
0.00
6810-9810-5335-06
0.00
Drop Payouttintrest Checks to Drop Retirees
0.00
YTD Column
0.00
Difference
0.00
607104.84
#REF!
"(should be off Supplemental amount for DROP par
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\06 - June 2022 Fire WM
FIREMEN'S RELIEF AND PENSION
July 7
2022
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE
YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN,
AND FOR THE PURPOSE SO STATED.
DATE OF
Regular Mo
Year To Date
Act 1373 Hours
EMP# RETIREMENT
NAME
Benefit
Reg Benefit
Future Codes
Supplement for Fut Supp
177
4/04
BACHMAN, EDDIE
2,618.55
18,329.85
88830
68
7/99
BONADUCE, MICHAEL
2,988.76
20,921.32
88830
44
9/86
BOUDREY, BETTY MRS.
2,477.42
17,341.94
88830
45
9/86
BOUDREY, HOWARD deceased 3/15/22
0.00
6,267.84
88830
43
9/87
BOUDREY, IRMA
2,089.28
8,357.12
88830
49
7/88
BOUDREY, JACK
1,647.63
11,533.41
88830
57
5/90
CATE, ROY
1,788.90
12,522.30
88830
188
12/05
DOSS, MARION H
5,376.91
37,638.37
88830
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
5,121.27
192
4/06
FARRAR, DANNY
4,155.36
29,087.52
88830
170
5/03
FREEDLE, LARRY
3,816.75
26,717.25
88830
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
989.59
92
03/02
GAGE,TOMMY
2,596.69
18,176.83
88830
182
10/04
JENKINS, EILEEN
1,788.75
12,521.25
93
06/02
JENKINS, JOHN
1,788.76
12,521.32
88830
86
07/01
JOHNSON,ROBERT
3,073.47
21,514.29
88830
219
4/95
JORDAN, SANDRA K
2,274.95
15,924.65
88830
76
5/88
JUDY, JAN
1,647.63
11,533.41
88830
37
3/84
KING, ARNOLD D.
1,522.37
10,656.59
88830
54
5/89
KING, ARVIL
1,711.21
11,978.47
88830
173
12/03
LEDBETTER, DENNIS
3,775.80
26,430.60
88830
51
10/88
LEWIS, CHARLES
1,647.63
11,533.41
88830
202
02/08
MAHAN, MARSHALL
4,077.28
28,540.96
88830
MASON, DONNA
1,631.25
11,418.75
88830
35
2/82
MC CHRISTIAN, DWAYNE
109.27
764.89
88840
209
8/81
MILLER, ALICE GAYLE
1,304.07
9,128.49
88830
73
2/00
MILLER,KENNETH
3,180.02
22,260.14
88830
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
1,194.20
217
2/86
MOORE, BETTY L
109.27
764.89
88840
48
7/88
MULLENS, DENNIS W.
2,191.30
15,339.10
88830
184
3/05
NAPIER, LONNIE
3,518.28
24,627.96
88830
196
01/02
ONEAL, TEDDY
4,120.99
28,846.93
88830
5/88
OSBURN, VERNA
1,899.66
13,297.62
88830
81
02/01
PHILLIPS,LARRY
2,765.09
19,355.63
88830
203
02/08
PIERCE, JOEY
3,647.18
25,530.26
88830
53
2/89
POAGE, LARRY
2,346.70
16,426.90
88830
186
06/05
REAGAN, PETE
3,535.71
24,749.97
88830
41
9/85
SCHADER, TROY
1,524.99
10,674.93
88830
190
04/06
SHACKELFORD, GLEN
3,647.18
25,530.26
88830
SPRINGSTON, BARBARA
806.19
5,643.33
88830
165
12/02
TATE, RALPH
3,668.10
25,676.70
88830
71
1/00
WARFORD,THOMAS
2,502.72
17,519.04
88830
88
01/02
WOOD,RONNIE D
3,077.15
21,540.05
88830
208
9/88
WRIGHT, Barbara
1,691.34
11,839.38
88830
101,184.14
708,288.98
0.00
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\07 - July 2022 Fire WM
DATE OF Regular Mo Year To Date Act 1373 Hours
EMP# RETIREMENT NAME Benefit Reg Benefit Future Codes
Supplement for Fut Supp
0.00 Double check -- should be zero
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
0.00
CHAIRMAN AND PRESIDENT
YTD
6810-9810-5335-00
0.00
6810-9810-5335-06
0.00
Drop Payouttintrest Checks to Drop Retirees
0.00
YTD Column
0.00
Difference
0.00
708288.98
#REF!
"(should be off Supplemental amount for DROP par
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\07 - July 2022 Fire WM
FIREMEN'S RELIEF AND PENSION
Aug 8
2022
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE
YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN,
AND FOR THE PURPOSE SO STATED.
DATE OF
Regular Mo
Year To Date
Act 1373 Hours
EMP# RETIREMENT
NAME
Benefit
Reg Benefit
Future Codes
Supplement for Fut Supp
177
4/04
BACHMAN, EDDIE
2,618.55
20,948.40
88830
68
7/99
BONADUCE, MICHAEL
2,988.76
23,910.08
88830
44
9/86
BOUDREY, BETTY MRS.
2,477.42
19,819.36
88830
45
9/86
BOUDREY, HOWARD deceased 3/15/22
0.00
6,267.84
88830
43
9/87
BOUDREY, IRMA
2,089.28
10,446.40
88830
49
7/88
BOUDREY, JACK
1,647.63
13,181.04
88830
57
5/90
CATE, ROY
1,788.90
14,311.20
88830
188
12/05
DOSS, MARION H
5,376.91
43,015.28
88830
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
5,852.88
192
4/06
FARRAR, DANNY
4,155.36
33,242.88
88830
170
5/03
FREEDLE, LARRY
3,816.75
30,534.00
88830
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
1,130.96
92
03/02
GAGE,TOMMY
2,596.69
20,773.52
88830
182
10/04
JENKINS, EILEEN
1,788.75
14,310.00
93
06/02
JENKINS, JOHN
1,788.76
14,310.08
88830
86
07/01
JOHNSON,ROBERT
3,073.47
24,587.76
88830
219
4/95
JORDAN, SANDRA K
2,274.95
18,199.60
88830
76
5/88
JUDY, JAN
1,647.63
13,181.04
88830
37
3/84
KING, ARNOLD D.
1,522.37
12,178.96
88830
54
5/89
KING, ARVIL
1,711.21
13,689.68
88830
173
12/03
LEDBETTER, DENNIS
3,775.80
30,206.40
88830
51
10/88
LEWIS, CHARLES
1,647.63
13,181.04
88830
202
02/08
MAHAN, MARSHALL
4,077.28
32,618.24
88830
MASON, DONNA
1,631.25
13,050.00
88830
35
2/82
MC CHRISTIAN, DWAYNE
109.27
874.16
88840
209
8/81
MILLER, ALICE GAYLE
1,304.07
10,432.56
88830
73
2/00
MILLER,KENNETH
3,180.02
25,440.16
88830
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
1,364.80
217
2/86
MOORE, BETTY L
109.27
874.16
88840
48
7/88
MULLENS, DENNIS W.
2,191.30
17,530.40
88830
184
3/05
NAPIER, LONNIE
3,518.28
28,146.24
88830
196
01/02
ONEAL, TEDDY
4,120.99
32,967.92
88830
5/88
OSBURN, VERNA
1,899.66
15,197.28
88830
81
02/01
PHILLIPS,LARRY
2,765.09
22,120.72
88830
203
02/08
PIERCE, JOEY
3,647.18
29,177.44
88830
53
2/89
POAGE, LARRY
2,346.70
18,773.60
88830
186
06/05
REAGAN, PETE
3,535.71
28,285.68
88830
41
9/85
SCHADER, TROY
1,524.99
12,199.92
88830
190
04/06
SHACKELFORD, GLEN
3,647.18
29,177.44
88830
SPRINGSTON, BARBARA
806.19
6,449.52
88830
165
12/02
TATE, RALPH
3,668.10
29,344.80
88830
71
1/00
WARFORD,THOMAS
2,502.72
20,021.76
88830
88
01/02
WOOD,RONNIE D
3,077.15
24,617.20
88830
208
9/88
WRIGHT, Barbara
1,691.34
13,530.72
88830
101,184.14
809,473.12
0.00
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\08 - August 2022 Fire WM
DATE OF Regular Mo Year To Date Act 1373 Hours
EMP# RETIREMENT NAME Benefit Reg Benefit Future Codes
Supplement for Fut Supp
0.00 Double check -- should be zero
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
0.00
CHAIRMAN AND PRESIDENT
YTD
6810-9810-5335-00
0.00
6810-9810-5335-06
0.00
Drop Payouttintrest Checks to Drop Retirees
0.00
YTD Column
0.00
Difference
0.00
809473.12
#REF!
"(should be off Supplemental amount for DROP par
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\08 - August 2022 Fire WM
FIREMEN'S RELIEF AND PENSION
Sep 9
2022
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE
YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN,
AND FOR THE PURPOSE SO STATED.
DATE OF
Regular Mo
Year To Date
Act 1373 Hours
EMP# RETIREMENT
NAME
Benefit
Reg Benefit
Future Codes
Supplement for Fut Supp
177
4/04
BACHMAN, EDDIE
2,618.55
23,566.95
88830
68
7/99
BONADUCE, MICHAEL
2,988.76
26,898.84
88830
44
9/86
BOUDREY, BETTY MRS.
2,477.42
22,296.78
88830
45
9/86
BOUDREY, HOWARD deceased 3/15/22
0.00
6,267.84
88830
43
9/87
BOUDREY, IRMA
2,089.28
12,535.68
88830
49
7/88
BOUDREY, JACK
1,647.63
14,828.67
88830
57
5/90
CATE, ROY
1,788.90
16,100.10
88830
188
12/05
DOSS, MARION H
5,376.91
48,392.19
88830
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
6,584.49
192
4/06
FARRAR, DANNY
4,155.36
37,398.24
88830
170
5/03
FREEDLE, LARRY
3,816.75
34,350.75
88830
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
1,272.33
92
03/02
GAGE,TOMMY
2,596.69
23,370.21
88830
182
10/04
JENKINS, EILEEN
1,788.75
16,098.75
93
06/02
JENKINS, JOHN
1,788.76
16,098.84
88830
86
07/01
JOHNSON,ROBERT
3,073.47
27,661.23
88830
219
4/95
JORDAN, SANDRA K
2,274.95
20,474.55
88830
76
5/88
JUDY, JAN
1,647.63
14,828.67
88830
37
3/84
KING, ARNOLD D.
1,522.37
13,701.33
88830
54
5/89
KING, ARVIL
1,711.21
15,400.89
88830
173
12/03
LEDBETTER, DENNIS
3,775.80
33,982.20
88830
51
10/88
LEWIS, CHARLES
1,647.63
14,828.67
88830
202
02/08
MAHAN, MARSHALL
4,077.28
36,695.52
88830
MASON, DONNA
1,631.25
14,681.25
88830
35
2/82
MC CHRISTIAN, DWAYNE
109.27
983.43
88840
209
8/81
MILLER, ALICE GAYLE
1,304.07
11,736.63
88830
73
2/00
MILLER,KENNETH
3,180.02
28,620.18
88830
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
1,535.40
217
2/86
MOORE, BETTY L
109.27
983.43
88840
48
7/88
MULLENS, DENNIS W.
2,191.30
19,721.70
88830
184
3/05
NAPIER, LONNIE
3,518.28
31,664.52
88830
196
01/02
ONEAL, TEDDY
4,120.99
37,088.91
88830
5/88
OSBURN, VERNA
1,899.66
17,096.94
88830
81
02/01
PHILLIPS,LARRY
2,765.09
24,885.81
88830
203
02/08
PIERCE, JOEY
3,647.18
32,824.62
88830
53
2/89
POAGE, LARRY
2,346.70
21,120.30
88830
186
06/05
REAGAN, PETE
3,535.71
31,821.39
88830
41
9/85
SCHADER, TROY
1,524.99
13,724.91
88830
190
04/06
SHACKELFORD, GLEN
3,647.18
32,824.62
88830
SPRINGSTON, BARBARA
806.19
7,255.71
88830
165
12/02
TATE, RALPH
3,668.10
33,012.90
88830
71
1/00
WARFORD,THOMAS
2,502.72
22,524.48
88830
88
01/02
WOOD,RONNIE D
3,077.15
27,694.35
88830
208
9/88
WRIGHT, Barbara
1,691.34
15,222.06
88830
101,184.14
910,657.26
0.00
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\09 - September 2022 Fire WM
DATE OF Regular Mo Year To Date Act 1373 Hours
EMP# RETIREMENT NAME Benefit Reg Benefit Future Codes
Supplement for Fut Supp
0.00 Double check -- should be zero
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
0.00
CHAIRMAN AND PRESIDENT
YTD
6810-9810-5335-00
0.00
6810-9810-5335-06
0.00
Drop Payouttintrest Checks to Drop Retirees
0.00
YTD Column
0.00
Difference
0.00
910657.26
#REF!
"(should be off Supplemental amount for DROP par
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\09 - September 2022 Fire WM
FIREMEN'S RELIEF AND PENSION
Oct 10
2022
THE FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE MONTH LISTED ABOVE
YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE PAYEES, IN THE AMOUNTS SHOWN,
AND FOR THE PURPOSE SO STATED.
DATE OF
Regular Mo
Year To Date
Act 1373 Hours
EMP# RETIREMENT
NAME
Benefit
Reg Benefit
Future Codes
Supplement for Fut Supp
177
4/04
BACHMAN, EDDIE
2,618.55
26,185.50
88830
68
7/99
BONADUCE, MICHAEL
2,988.76
29,887.60
88830
44
9/86
BOUDREY, BETTY MRS.
2,477.42
24,774.20
88830
45
9/86
BOUDREY, HOWARD deceased 3/15/22
0.00
6,267.84
88830
43
9/87
BOUDREY, IRMA
2,089.28
14,624.96
88830
49
7/88
BOUDREY, JACK
1,647.63
16,476.30
88830
57
5/90
CATE, ROY
1,788.90
17,889.00
88830
188
12/05
DOSS, MARION H
5,376.91
53,769.10
88830
188
12/05
DOSS, MARION H plus 25 additional pay
731.61
7,316.10
192
4/06
FARRAR, DANNY
4,155.36
41,553.60
88830
170
5/03
FREEDLE, LARRY
3,816.75
38,167.50
88830
170
5/03
FREEDLE, LARRY plus 25 additional pay
141.37
1,413.70
92
03/02
GAGE,TOMMY
2,596.69
25,966.90
88830
182
10/04
JENKINS, EILEEN
1,788.75
17,887.50
93
06/02
JENKINS, JOHN
1,788.76
17,887.60
88830
86
07/01
JOHNSON,ROBERT
3,073.47
30,734.70
88830
219
4/95
JORDAN, SANDRA K
2,274.95
22,749.50
88830
76
5/88
JUDY, JAN
1,647.63
16,476.30
88830
37
3/84
KING, ARNOLD D.
1,522.37
15,223.70
88830
54
5/89
KING, ARVIL
1,711.21
17,112.10
88830
173
12/03
LEDBETTER, DENNIS
3,775.80
37,758.00
88830
51
10/88
LEWIS, CHARLES
1,647.63
16,476.30
88830
202
02/08
MAHAN, MARSHALL
4,077.28
40,772.80
88830
MASON, DONNA
1,631.25
16,312.50
88830
35
2/82
MC CHRISTIAN, DWAYNE
109.27
1,092.70
88840
209
8/81
MILLER, ALICE GAYLE
1,304.07
13,040.70
88830
73
2/00
MILLER,KENNETH
3,180.02
31,800.20
88830
73
2/00
MILLER,KENNETH plus 25 additional pay
170.60
1,706.00
217
2/86
MOORE, BETTY L
109.27
1,092.70
88840
48
7/88
MULLENS, DENNIS W.
2,191.30
21,913.00
88830
184
3/05
NAPIER, LONNIE
3,518.28
35,182.80
88830
196
01/02
ONEAL, TEDDY
4,120.99
41,209.90
88830
5/88
OSBURN, VERNA
1,899.66
18,996.60
88830
81
02/01
PHILLIPS,LARRY
2,765.09
27,650.90
88830
203
02/08
PIERCE, JOEY
3,647.18
36,471.80
88830
53
2/89
POAGE, LARRY
2,346.70
23,467.00
88830
186
06/05
REAGAN, PETE
3,535.71
35,357.10
88830
41
9/85
SCHADER, TROY
1,524.99
15,249.90
88830
190
04/06
SHACKELFORD, GLEN
3,647.18
36,471.80
88830
SPRINGSTON, BARBARA
806.19
8,061.90
88830
165
12/02
TATE, RALPH
3,668.10
36,681.00
88830
71
1/00
WARFORD,THOMAS
2,502.72
25,027.20
88830
88
01/02
WOOD,RONNIE D
3,077.15
30,771.50
88830
208
9/88
WRIGHT, Barbara
1,691.34
16,913.40
88830
101,184.14
1,011,841.40
0.00
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\10 - October 2022 Fire WM
DATE OF Regular Mo Year To Date Act 1373 Hours
EMP# RETIREMENT NAME Benefit Reg Benefit Future Codes
Supplement for Fut Supp
0.00 Double check -- should be zero
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
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF
NOTARY PUBLIC
MY COMMISSION EXPIRES:
0.00
CHAIRMAN AND PRESIDENT
YTD
6810-9810-5335-00
0.00
6810-9810-5335-06
0.00
Drop Payouttintrest Checks to Drop Retirees
0.00
YTD Column
0.00
Difference
0.00
1011841.40
#REF!
"(should be off Supplemental amount for DROP par
4/15/2022 C:\Users\kapaxton\AppData\Local\Microsoft\Windows\INetCache\Content.Outlook\UQHKHEUO\10 - October 2022 Fire WM
Fire
Pension Fund Revenue and Expense Summary
12/31/2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
Revenues:
Employee Contributions
$
$
$
$
$
$
$
$
Employer Contributions
$
$
$
$
$
$
$
$
State Insurance Tax
$
317,033.11
$ 282,432.97
274,560.98
229,664.81
$
240,791.01
$ 221,627.01
$ 221,178.00
$ 231,280.75
$ 220,080.96
$ 229,129.75
Local Millage (A mills)
$
685,875.24
$ 640,639.48
624,223.49
587,536.68
$
581,045.07
$ 551,507.74
$ 539,827.31
$ 527,589.73
$ 494,749.58
$ 511,961.22
Interest and Dividends
$
39,452.33
$ 56,404.66
69,100.21
81,065.76
$
77,227.20
$ 94,574.56
$ 107,886.76
$ 132,617.08
$ 138,740.86
$ 162,108.46
Gain (Loss) on Sales
$
(568.53)
$ 152,203.52
69,678.92
115,744.70
$
87,484.39
$ 538,693.95
$ 209,397.20
$ 144,875.98
$ 93,762.08
$ 109,847.78
Future Supplement
$
74,104.43
$ 68,828.73
66,300.00
54,390.00
$
64,680.00
$ 73,224.00
$ 63,560.00
$ 56,563.00
$ 44,215.00
$ 36,105.00
Misc Revenue
$
-
$ 306.82
356.00
3,002.68
$
8.16
$ 83.12
$ 8.00
$ 365.41
$ 10.70
$ 6.00
Total Revenue
$
1,115,896.58
$ 1,200,816.18
$ 1,104,219.60
$ 1,071,404.63
$
1,051,235.83
$ 1,479,710.38
$ 1,141,857.27
$ 1,093,291.95
$ 991,559.18
$ 1,049,158.21
Expenditures
Regular Monthly Benefits
$
1,245,963.68
$ 1,257,842.64
1,268,580.70
1,288,442.29
$
1,289,776.80
$ 1,320,279.04
$ 1,355,680.14
$ 1,358,340.86
$ 1,388,308.71
$ 1,420,658.61
Future Supplement
$
72,220.48
$ 68,826.00
65,400.00
54,390.00
$
64,680.00
$ 71,280.00
$ 63,280.00
$ 56,316.00
$ 44,215.00
$ 35,960.00
Drop Expense
$
-
$
-
-
-
$
-
$ -
$
-
$ -
$
-
Investment Manager Fees
$
2,732.00
$ 7,676.00
12,878.00
14,860.00
$
15,928.00
$ 17,201.00
$ 19,989.00
$ 21,988.00
$ 22,846.00
$ 14,968.53
Other Expenses:
$
-
$
-
-
-
$
-
$ -
$
-
$ -
Audit Fees
$
3,500.00
$ 3,500.00
3,500.00
3,500.00
$
3,500.00
$ 3,500.00
$ 3,500.00
$ 3,500.00
$ 3,400.00
$ 3,600.00
Professional Services
$
-
$
-
-
-
$
-
$ -
$ 1,240.00
$ -
$
-
$ -
Legal Fees
$
-
$
-
-
-
$
-
$ -
$
-
$ -
$
-
$ -
Bank Fees
$
354.91
$ 270.65
136.74
100.82
$
84.07
$ 60.70
$ 54.58
$ 49.88
$ 53.55
$ 16.69
Publications and Dues
$
-
$ 260.00
260.00
250.00
$
500.00
$ 250.00
$
-
$ 250.00
$ 250.00
$ 225.00
Travel and Training
$
-
$
-
-
-
$
-
$ -
$
-
$ -
$
-
Total Expenses
$
1,324,771.07
$ 1,338,375.29
$ 1,350,755.44
$ 1,361,543.11
$
1,374,468.87
$ 1,412,570.74
$ 1,443,743.72
$ 1,440,444.74
$ 1,459,073.26
$ 1,475,428.83
Net Income (Loss) Before Market Adj
$
(208,874.49)
$ (137,559.11)
$ (246,535.84)
$ (290,138.48)
$
(323,233.04)
$ 67,139.64
$ (301,886.45)
$ (347,152.79)
$ (467,514.08)
$ (426,270.62)
Market Adjustment
$
(54,071.25)
$ (431,623.25)
301,976.14
(339,512.60)
$
200,386.66
$ (339,573.29)
$ (406,301.39)
$ 101,904.76
$ 376,760.23
$ 93,781.27
Net Income (Loss)
$
(262,945.74)
$ (569,182.36)
$ 55,440.30
$ (629,651.08)
$
(122,846.38)
$ (272,433.65)
$ (708,187.84)
$ (245,248.03)
$ (90,753.85)
$ (332,489.35)
Book Value Total Reserve Assets *
Market Value Total Reserve Assets
*Assets less any liabilities
** Market Value calculated at year end
$ 1,917,261.40 2,123,664.93 2,258,784.31 2,488,088.30 $ 2,778,226.78 $ 3,043,527.57 $ 3,021,845.48 $ 3,322,086.79 $ 3,668,717.01 $ 4,107,688.38
$ 1,643,257.92 1,984,177.37 2,608,561.62 2,585,684.35 $ 3,271,521.14 $ 3,273,057.94 $ 3,576,563.72 $ 4,280,570.15 $ 4,534,331.93 $ 4,541,004.55
4/26/2022 K:\Fire Pension\Revenue & Expense Summary\2021 Revenue & Expense Report\Fire Pension Summary 12.31.21
Fire
Pension Fund Revenue and Expense Summary
3/31/2022
2021
2020
2019
2018
2017
2016
2015
2014
2013
Revenues:
Employee Contributions
$
$
$
$
$
$
$
$
Employer Contributions
$
$
$
$
$
$
$
$
State Insurance Tax
$
$ 317,033.11
$ 282,432.97
274,560.98
229,664.81
$ 240,791.01
$
221,627.01
$ 221,178.00
$ 231,280.75
$ 220,080.96
Local Millage (A mills)
$
65,226.14
$ 685,875.24
$ 640,639.48
624,223.49
587,536.68
$ 581,045.07
$
551,507.74
$ 539,827.31
$ 527,589.73
$ 494,749.58
Interest and Dividends
$
4,904.22
$ 39,452.33
$ 56,404.66
69,100.21
81,065.76
$ 77,227.20
$
94,574.56
$ 107,886.76
$ 132,617.08
$ 138,740.86
Gain (Loss) on Sales
$
-
$ (568.53)
$ 152,203.52
69,678.92
115,744.70
$ 87,484.39
$
538,693.95
$ 209,397.20
$ 144,875.98
$ 93,762.08
Future Supplement
$
$ 74,104.43
$ 68,828.73
66,300.00
54,390.00
$ 64,680.00
$
73,224.00
$ 63,560.00
$ 56,563.00
$ 44,215.00
Misc Revenue
$
$
-
$ 306.82
356.00
3,002.68
$ 8.16
$
83.12
$ 8.00
$ 365.41
$ 10.70
Total Revenue
$
70,130.36
$ 1,115,896.58
$ 1,200,816.18
$
1,104,219.60
$
1,071,404.63
$ 1,051,235.83
$
1,479,710.38
$ 1,141,857.27
$ 1,093,291.95
$ 991,559.18
Expenditures
Regular Monthly Benefits
$
303,552.42
$ 1,245,963.68
$ 1,257,842.64
1,268,580.70
1,288,442.29
$ 1,289,776.80
$
1,320,279.04
$ 1,355,680.14
$ 1,358,340.86
$ 1,388,308.71
Future Supplement
$
-
$ 72,220.48
$ 68,826.00
65,400.00
54,390.00
$ 64,680.00
$
71,280.00
$ 63,280.00
$ 56,316.00
$ 44,215.00
Drop Expense
$
-
$
-
$
-
-
-
$ -
$
-
$
-
$
-
$ -
Investment Manager Fees
$
616.00
$ 2,732.00
$ 7,676.00
12,878.00
14,860.00
$ 15,928.00
$
17,201.00
$ 19,989.00
$ 21,988.00
$ 22,846.00
Other Expenses:
$
-
$
-
$
-
-
-
$ -
$
-
$
-
$
-
Audit Fees
$
$ 3,500.00
$ 3,500.00
3,500.00
3,500.00
$ 3,500.00
$
3,500.00
$ 3,500.00
$ 3,500.00
$ 3,400.00
Professional Services
$
$
-
$
-
-
-
$ -
$
-
$ 1,240.00
$
-
$ -
Legal Fees
$
$
-
$
-
-
-
$ -
$
-
$
-
$
-
$ -
Bank Fees
$
126.29
$ 354.91
$ 270.65
136.74
100.82
$ 84.07
$
60.70
$ 54.58
$ 49.88
$ 53.55
Publications and Dues
$
275.00
$
-
$ 260.00
260.00
250.00
$ 500.00
$
250.00
$
-
$ 250.00
$ 250.00
Travel and Training
$
-
$
-
-
-
$ -
$
-
$
-
$
-
$ -
Total Expenses
$
304,569.71
$ 1,324,771.07
$ 1,338,375.29
$
1,350,755.44
$
1,361,543.11
$ 1,374,468.87
$
1,412,570.74
$ 1,443,743.72
$ 1,440,444.74
$ 1,459,073.26
Net Income (Loss) Before Market Adj
$
(234,439.35)
$ (208,874.49)
$ (137,559.11)
$
(246,535.84)
$
(290,138.48)
$ (323,233.04)
$
67,139.64
$ (301,886.45)
$ (347,152.79)
$ (467,514.08)
Market Adjustment
$
-
$ (54,071.25)
$ (431,623.25)
301,976.14
(339,512.60)
$ 200,386.66
$
(339,573.29)
$ (406,301.39)
$ 101,904.76
$ 376,760.23
Net Income (Loss)
$
(234,439.35)
$ (262,945.74)
$ (569,182.36)
$
55,440.30
$
(629,651.08)
$ (122,846.38)
$
(272,433.65)
$ (708,187.84)
$ (245,248.03)
$ (90,753.85)
Book Value Total Reserve Assets * $ 1,712,149.37 $ 1,917,261.40 2,123,664.93 2,258,784.31 2,488,088.30 $ 2,778,226.78 $ 3,043,527.57 $ 3,021,845.48 $ 3,322,086.79 $ 3,668,717.01
Market Value Total Reserve Assets * $ 1,563,445.10 $ 1,643,257.92 1,984,177.37 2,608,561.62 2,585,684.35 $ 3,271,521.14 $ 3,273,057.94 $ 3,576,563.72 $ 4,280,570.15 $ 4,534,331.93
*Assets less any liabilities
** Market Value calculated at year end
4/26/2022 K:\Fire Pension\Revenue & Expense Summary\2022 Revenue & Expense Report\Fire Pension Summary 03.31.22