HomeMy WebLinkAboutCity Council Committees - Fireman's Relief Pension Board - 01/19/2016
Unless otherwise noted, the Firemen’s Relief and Pension Board meets at 3:30 p.m. on the
first Tuesday of each quarter at Kent City Hall, 2nd Floor, Mayor’s Office, 220 Fourth Ave S,
Kent, WA 98032.
For additional information please contact Ronald F. Moore, MMC at 253-856-5728.
Any person requiring a disability accommodation should contact the City Clerk’s
Office at 253-856-5725 in advance. For TDD relay service call Washington
Telecommunications Relay Service at 1-800-833-6388.
Firemen’s Relief and Pension Board Agenda
Board Members: Chair Suzette Cooke – Dana Ralph – Al Bond – Sam Grubbs
ALTERNATE: Gene Grenstad
City Staff: Ronald F. Moore, Secretary – Aaron BeMiller, Treasurer
January 19, 2016
3:30 p.m.
Mayor’s Conference Room
Item Description Action Speaker
1. Call to order Mayor Cooke
2. Roll Call Mayor Cooke
3. Changes to the Agenda Mayor Cooke
4. Minutes of November 3, 2015 YES Mayor Cooke
5. December 31, 2014 Financial Transactions YES Lavina Brennecke
6. 1st Quarter 2015 Financial Transactions YES Lavina Brennecke
7. Cost of Living Allowance NO Susanne Shaw
8. Other Business NO Mayor Cooke
9. Adjournment Mayor Cooke
Firemen’s Relief & Pension Board Minutes
November 3, 2015
Board Members present: Mayor Suzette Cooke, Councilmember Les Thomas, City
Clerk Ronald Moore, Al Bond, Sam Grubbs, and Gene Grenstad
Others present: Finance Director Aaron BeMiller, Accounting and Reporting Manager
Lavina Brennecke, and City Clerk Ronald F. Moore
Mayor Cooke called the meeting to order at 3:30 p.m.
Minutes of July 21, 2015. Sam Grubbs moved to approve the minutes of
July 21, 2015, as written, seconded by Al Bond. Motion carried 5-0.
3rd Quarter 2015 Financial Transactions. Brennecke communicated the 3rd
Quarter 2015 financial transactions and communicated that the balance in the cash
and checking has decreased from last year at this time because there were $1.6
million in investments this year. She added that money was moved from the Local
Government Investment Pool to investments is the reason for the decrease. She
explained that the pie chart highlights the individual investments and reviewed the
maturity dates of each investment.
BeMiller compared the significant maturity yield differences from 1987 to present
day.
Brennecke noted that over $2 million is in the fund. However, BeMiller noted that
some of the cash is tied up in the investments. She continued and reviewed the
statement of revenues and expenses. She stated that the fire insurance premium
tax is up to $219,000 and it has been increasing over the last two years. She stated
that it is a state levy on the premiums.
Mayor Cooke noted that the fire insurance premium was one of the State Shared
Revenues that was in jeopardy of being taken away by the legislature with the City
of Kent having to replace these funds.
Al Bond moved to approve the financial transactions for the months of July
– September 2015, seconded by Sam Grubbs. Motion carried 5-0.
2
Cost of Living Allowance - Information. Mayor Cooke communicated that the
Cost of Living Allowance was 1.87 percent.
Board Appointments – Information. Moore communicated that Position 2
previously occupied by Al Bond expired on June 30, 2015. He stated that a notice
for candidates went to all members and no one was nominated. Moore stated that
he called Al Bond to determine if he would like to continue on the board due to the
lack of nominations and Mr. Bond agreed. Therefore, Mr. Bond has been re-
appointed to a two-year term expiring on June 30, 2017.
Adjournment. The meeting adjourned at 3:45 p.m.
Ronald F. Moore, MMC
Board Secretary/City Clerk