HomeMy WebLinkAboutCity Council Committees - Fireman's Relief Pension Board - 04/17/2018 (2)Firemen's Relief and Pension Board
Minutes
April L7, 2018
Kent, Washington
Approved
BOARD MEMBERS PRESENT: Board Chair, Mayor Dana Ralph, board members
Sam Grubbs, Al Bond and Kim Komoto, Secretary.
STAFF MEMBERS PRESENT: Aaron BeMiller, Finance Director, Lavina Brennecke,
Accounting and Reporting Manager, and Susanne Shaw, Senior Financial Analyst
1. Call to Order
The meeting was called to order at 3:28 p.m., with Committee Chair Mayor Ralph
presiding.
2. Roll Call
Mayor Dana Ralph- Present
Councilmember Les Thomas - Absent
Kim Komoto - Present
Al Bond - Present
Sam Grubbs - Present
3. Changes to the Agenda
Al Bond moved to approve the agenda as presented, seconded by Sam Grubbs.
The motion passed unanimously with a vote of 4-O.
4, Aporoval of Minutes, dated January 16, 2O18
Sam Grubbs moved to approve the minutes dated January 16, 2018, and Al Bond
seconded the motion.
The motion passed unanimously with a vote of 4-0.
5. Financial Report
Lavina Brennecke, Accounting & Reporting Manager, províded details regarding the
Executive Summary for Cash and Investments as of March 3L,20L8, that included
information on the Federal Home Loan Mortgage investment that included the
original investment in 1987 of $65,937.50 and when it matures on tt/29/19, it will
be worth $1 million. Brennecke also reviewed the Statement of Revenues and
Expenses as of March 31, 2018.
Brennecke also advised that the actuary study fee is $11,825.
Bond moved to approve the financial report ending March 31, 2018, seconded by
Sam Grubbs.
The motion passed unanimously with a vote of 4-0.
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Firemen's Relief and Pension Board
Minutes
April L7, 2018
Kent, Washington
Approved
6.
2020.
Board Position No. 1 Election Results - Term: Julv 1, 2O18 - June 3O,
Kim Komoto, City Clerk, advised that Sam Grubbs received 100o/o of the votes and
has been elected to serve in Position No. 1 for the term of July 1, 2018 - June 30,
2020.
7. LEOFF 1 Retirees'COLA
Susanne Shaw, Senior Financial Analyst, advised that LEOFF 1 members will receive
a 3.32o/o increase.
8. Adjournment
At 3:34 p.m., Chair, Ma ared the meeting adjourned.rRa h
Kimberley
Firemen's
April L7, 2018
moto
ief and Pension Board Secretary
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