HomeMy WebLinkAboutCity Council Committees - Fireman's Relief and Pension Board - 06/05/1996 Firemen' s Relief & Pension Board
June 5, 1996
Present: Boardmembers Berg, Johnson, Jacober, Grenstad and
Grubbs. Others: Laurie Murray and Brigitte Hoopes.
The meeting was called to order at 4 : 00 p.m. by Chief Berg.
Approval of Minutes. Grenstad moved to approve the minutes of
the meeting of May 1, 1996 . Johnson seconded and the motion
carried.
Approval of April Financial Transactions. Murray noted that the
packet provided contains the balance sheet, the statement of
revenues and expenditures and changes in retained earnings, the
statement of cash flows, and the schedule of investments which
includes the estimated cash flows, the type comparisons, the
market value and detail of a correction made. Grenstad
questioned the FFCB figure of $11. 31 on the market value sheet
and Murray agreed to check on it and report at the next meeting.
Johnson then moved to approve the April financial transactions.
Grenstad seconded and the motion carried.
CPI Adiustment. Berg noted that the CPI figure is to be based on
the figures from December 31, 1994 through December 31, 1995 . It
was noted that the figure for the 2nd half of 1994 is 146. 5, and
the figure for the 2nd half of 1995 is 150. 4. The difference
between the two figures is 3 . 9, and 3 . 9 divided by 146. 5 is
. 0266211 . Grenstad moved to approve the use of 2 . 66% as the CPI
adjustment. Johnson seconded and the motion carried.
April 1st COLA Increases. It was noted that questions were
brought up at the last meeting as to why Mrs. Webster is not
receiving benefits and why Mrs. Bridge received a change in her
benefits . Berg stated that he has done some research and that
this is no longer an issue.
Added Item• Fire Insurance Premium Distribution for May 1996.
Jacober distributed copies of the Fire Insurance Premium
Distribution sheets for May. Murray noted that $94, 000 was
budgeted and the figure shown on the report is $105, 000.
Actuarial Studv. Murray said she may have information on the
actuarial study at the next meeting.
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Brenda Jacobe�
City Clerk(Boardmember