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HomeMy WebLinkAboutHandouts_Pension General_Tab 17_08/03/2009~~ p~ ,~ _ ,~ 1VIEMORANDZIM DATE: JULY 29, 2009 TO: GENERAL EMPLOYEES PENSION BOARD TRUSTEES FROM: MONICA RAHIM, SENIOR ACCOUNTANT RE: BUDGET FY10 Based on our accounting records in ~ ----..~.___._ _ ~.____ ..._ _~~. _ ~_._... _._ _. the General Ledger, the following Exhibits are presented for your review and subsequent budget input and approval. Exhibit A "Budget Worksheet" is for the Village Employee Pension -General and shows the following: (1) Prior Yeax (FY2008) Actual revenue and expenses (2) Original and Amended Budget fox FY2009 (3) Actual Expenses thru July 2009 (4) Estimated Expenses fox FY2009 -These estimated figures are based upon the current budget, year-to-date actual expenses and anticipated additional expenses for the remainder of the year. (5) FY2010 Proposed -This column is to be used to enter the FY2010 budget figures. The budgeted Pension Fund Contribution for Employers and Employees was provided by Payroll. Also, the proposed amount for Recording Secretary Services was provided by the Clerk's Office and Insurance was provided by Human Resources. These amounts were entered on the Budget Worksheet. Exhibit B "Expenditure Report" shows the detailed expenses fox each account for the period October 01, 2008 to July 29, 2009 (the date of printing this report). 7/31/092:03 PM BUDGET WORKSHEET EXHIBIT A Village of Tequesta Prior --------------------------------Current Year ------------------------------ (6) Year Original Amended Actual Thru Estimated Actual Budget Budget July Total Month: 7/31/2009 Fund: 602 - VillageEmployee Pension-Gen Revenues Dept: 000 General Acct Class: 361 Unrestricted Investment Earnin 361.100 Interest Income 361.102 DividendlDistributions 361.103 Money funds Dividends Unrestricted Investment Earnin Acct Class: 367 Investment income 367.000 Gain/Loss-Sale of Investments 367,100 Unrealized gain/loss on invest Investment income Acct Class: 368 Pension Contributions 368.001 Pension Fund Cont-Employer 368.002 Pension Fund Cont-Employee Pension Contributions Acct Class: 369 Miscellaneous Revenues 369.000 Other Miscellaneous Revenue Miscellaneous Revenues General Dept: 990 OtherlReserve/Contingency Acct Class: 590 Other Financing Sources & Uses 399.600 Appropriate Net Assets Other Financing Sources & Uses Other/ReservelContingency Total Revenues Expenditures Dept: 000 General Acct Class: 530 Operating ExpenditureslExpense 531.301 Legal Services 531.304 Recording Secy Service 531.309 Actuarial Services 540.300 Travel & Per Diem 545.300 Insurance 549.300 Other Misc Chgs & Obligations 554.300 Books, Publ, Subs & Membership 554.600 Seminars & Training -Pensions Operating Expenditures/Expense Acct Class: 531 Investment Expense 531.307 Investment Services Investment Expense 18,714 0 0 11,867 0 12,145 0 0 11,724 0 0 0 0 0 0 30,859 0 0 23,591 0 -17,661 0 0 -29,672 0 -126,823 0 0 -60,711 0 -144,484 0 0 -90,383 0 130, 665 133, 000 133, 000 111, 986 133, 000 81,058 82,500 82,500 69,470 82,500 211,723 21.5,500 215,500 181,456 215,500 7 0 0 5 0 7 0 0 5 0 98,105 215,500 215,500 114,669 215,500 0 0 5,100 0 5,100 0 0 5,100 0 5,100 0 0 5,100 0 5,100 98,105 215,500 220,600 114,669 220,600 5,980 7,000 1,572 7,580 11,146 8,000 0 2,870 801 1,000 256 500 0 600 0 1,000 19,755 28,550 14,750 23,000 14,750 23,000 9,100 7,580 9,000 2,870 1,000 2,000 1,100 1,000 33,650 23,000 23,000 7,736 6,329 9,000 2,150 820 1,514 765 1,000 29,314 9,789 9,789 11,700 8,100 12,000 2,200 820 2,000 800 1,000 38,620 19,000 Page: 3 7/31/2009 2:21 pm PROPOSED 0 0 0 0 0 0 164,500 91,700 0 256,200 0 0 0 0 0 256,200 0 0 0 0 0 0 256,200 0 0 0 8,600 1,000 0 9,600 0 19,000 0 0 0 BUDGET WORKSHEET EXHIBIT A Page: 4 7131/2009 Village of Tequesta 2:21 pm Prior --------------------------------Current Year ------------------------------ (6) (7) (8) Year Original Amended Actual Thru Estimated Month:7/31/2009 Actual Budget Budget July Total PROPOSED Fund: 602 - VillageEmployee Pension-Gen Expenditures Dept: 000 General Acct Class: 590 Other Financing Sources & Uses 549.391 Bank Charges 590.600 Excess of additions over deduc Other Financing Sources & Uses General Dept: 165 Pension Acct Class: 530 Operating ExpenditureslExpense 531.300 Professional Services 536.300 Pension DistributionslRefunds Operating Expenditures/Expense Pension Total Expenditures 'ViiiageEmployee Pension-Gen 121 230 230 109 200 0 163,720 163,720 0 162,780 121 163, 950 163,950 109 162,980 34,626 215,500 220,600 39,212 220,600 0 0 0 0 0 28,178 0 0 0 0 28,178 0 0 0 0 28,178 0 0 0 0 62,804 215,500 220,600 39,212 220,600 35,301 0 0 75,457 0 0 0 0 9,600 0 0 0 0 0 9,600 0 246,600 0 0 0 0 0 0 Village of Tequesta For the Period: 10/112008 to 7/3112009 EXPENDITURE REPORT ._..'~,~•t~ Page: 4 7/29/2009 12:13 pm Original Bud. Amended Bud. YTD Actual CURR MTH Encumb. YTD UnencBal % Buc Fund: 602 - VillageEmployee Pension-Gen Expenditures Dept: 000 General Acct Class: 530 Operating ExpenditureslExpense 531.301 Legal Services 11/0512008 GJ CK #1143 HANSON, PERRY & JENSEN LE SERVICES THRU SEP 15, 2008 - $449.00, 481.56 THRU SEP 30- $538.75, OCT 15- $481.56 1211012008 GJ Ck #1153 -Hanson, Perry & Jensen Inv #62749 -legal services ihru 1,501.84 11/15108 02/03/2009 GJ CK#1168 -Hanson, Perry & Jensen Inv #62909 for period ended 1,313.50 1/15/09 03/10/2009 GJ CK#1181 -Hanson, Perry & Jensen Inv #62966 -tor period ended 2/15/09 3,195.09 $3,195.09 05/0412009 BA As per motion passed at Regular Pension Meeting 2,100.00 held on 5/4/09 0510512009 GJ CK#1186 -Perry & Jensen Inv#63076 -Legal services 311.75 thru 4/15109 06/1212009 GJ CK#63129 -Perry & Jensen Legal services thru 5/15109 932.75 $932.75 Legal Services 7,000.00 9,100.00 7,736.49 0.00 0.00 1,363.51 85.0 531.304 Recording S ecy Service 10114/2008 GJ CK #1142 -BUSINESS SERVICES CONNE INV #8-79 - $254.85 -OFFICE WORK FOR 254.85 WEEK ENDED OCT 3 & 10, 2008 11/0412008 GJ CK #1149 -BUSINESS SERVICES CONNE INV #8-81 - $161.41 -OFFICE WORK FOR 161.41 WEEK ENDED OCT 17 & 24, 2008 1111212008 GJ CK #1150 Business Services Conn inv#8-88 Office work for 305.82 w/e 10/31 & 11107108 11/26/2008 GJ CK#1151 -Business Services Conn Inv #8-91 - $254.85 for Office Work 254.85 W/E 11114 & 21, 2008 11/30/2008 GJ CK #1158 -Business Services Conn Inv #8-104 - $254.85 for Office Work 254.85 W/E 12/12 & 12/19108 12/1012008 GJ Ck #1154 Business Services Conn Office work wle 11/21 & 12/5/08 254.85 $254.85 12110/2008 GJ Ck #1156 -Business Services Conn Attend gtrly meeting & prep minutes 348.29 for meeting on 11/3/08 - $348.29 0111212009 GJ CK#1159 -Business Services Conn Inv#9-2 for Office Work W/E 12/26108 254.85 and 1/2/09 - $254.85 0210312009 GJ CK#1166 -Business Services Inv#8-102 Attend special meeting 76.45 prep minutes for meeting 12110108 02103/2009 GJ CK#1167 -Business Services Inv#9-9 Office work for 382.25 wle 119,1/16,1/23 & 1/30109 02/03/2009 RE CK#1167 -Business Services Inv#9-9 Office work for -382.25 w/e 1/9,1/16,1/23 & 1/30/09 02/0312009 GJ CK #1167 BUSINESS SERVICES CONNEC INV #9-9 -OFFICE WORK FOR WEEK EN[ 382.28 01109, 1/16, 1/23, 113012009 0211712009 GJ CK#1176 -Business Services Conn Inv#9-18 Office work for w/e 254.85 216, 2/13/09 - $254.85 03/0512009 GJ CK#1180 -Business Services Conn Inv #9-24 Office work for wle 254.85 2120 & 2/27109 03/0512009 GJ CK#1177 -Business Services Conn Inv #9-15 - 50% Prep minutes for joint 101.94 pension meeting on 212109 0310512009 GJ CK$1178 -Business Services Conn Inv #9-16 Prepare minutes for 76.46 emergency meeting on 1128109 0312012009 GJ CK#1182 -Business Service Connection Inv #9-30 Office work for w/e 254.85 Mar 6th & 13th, 2009 - $254.85 04103/2009 GJ CK#1183 -Business Services Conn Inv 9-33 Office work for wle 254.85 3/20 & 3/27/09 04/16/2009 GJ CK#1184 -Business Services Conn Inv#9-37 - $263.35 263.35 Office work w/e 413 & 4/10109 05/01/2009 GJ CK#1189 -Business Services Conn Inv#9-45 Office work for w/e 254.85 4117 & 4/24/09 - $254.85 0510512009 GJ CK#1192 -Business Services Conn Inv#9-50 -Prep minutes forjoint 59.46 meeting held on 2/24/09 05105/2009 GJ CK#1191 -Business Services Conn Inv #9-26 -Prep minutes for meeting 161.40 held on 2/2/09 05/1112009 GJ CK#1193 -Business Services Conn Inv #9-55 Office work for w/e 254.85 511 8 5/8109 05129/2009 GJ CK#1194 -Business Services Conn tnv #9-62 for office work for 254.85 w/e 5/15 and 5/22/09 06/11/2009 GJ CK#1198 -Business Serv Connection Inv#9-72 Office work for w/e 127.42 5/29/09 0611112009 GJ CK#1197 -Business Serv Connection Inv#9-55 -Attend meeting & prepare 271.84 minutes of meeting held on 5/4/09 06/25/2009 GJ CK#1199 -Business Services Conn Inv#9-77 Office work for wle 254.85 6112 & 6119109 07109/2009 GJ CK#1200 Business Services Conn Inv #9-82 Office work for w/e 424.75 6/26 & 714109 $424.75 07123/2009 GJ CK#1201 -Business Services Connection Inv#9-91 Office work for week ended 254.85 7110 and 7/17/09 Recording Secy Service 7,580.00 7,580.00 6,328.77 679.60 0.00 1,251.23 83.5 531.309 Actuarial Services 02/03/2009 GJ CK#1171 -Gabriel Roeder & Smith Inv #107106 dd 12131/08 2,478.00 Prep 10/1/08 Act Val Rep 02/03/2009 RE CK#1171 -Gabriel Roeder & Smith Inv #107106 dd 12/31/08 -2,478.00 Prep 10/1/08 Act Val Rep 0210312009 GJ CK #1171 GABRIEL, ROEDER, SMITH & Cr INV #107106 - DD 12/31108 - PREP OF 2,418.00 10/01/08 ACTUARIAL VALUATION REPOR 03/05/2009 GJ CK#1179 -Gabriel Roeder Smith Inv #107394 dd 1/31109 for 1,093.00 prep of 10/1/08 actuarial valuation rep 05/04/2009 BA As per motion passed at Regular Pension Meeting 1,000.00 held on 5/4/09 05/05/2009 GJ Ck#1185 -Gabriel, Roeder, Smith Inv#107648 - dd 2/28/09 for prep 2,344.00 of pg 6a for state report, gasb 27, 05/0512009 RE Rvs # 222847 Ck#1185 -Gabriel, Roeder, Inv#107648 - dd 2/28109 for prep -2,344.00 of pg 6a for state report, gasb 27, 06/12/2009 GJ CK#1195 -Gabriel, Roeder, Smith Inv#108159 -Actuarial report and 5,489.00 funding alternatives $5,489 Actuari al Services 8,000.00 9,000.00 9,000.00 0.00 0.00 0.00 100.0 540.300 Travel & Per Diem 01/12/2009 GJ CK#1161 -Renaissance Resort at World Golf Village Hotel accomodation for 268.50 L. McWilliams to attend trustee school 01/1212009 GJ CK#1162 -Renaissance Resort at World Golf Village Hotel accomodation for 537.00 M. Gload to attend trustee school EXPENDITURE REPORT Page: 5 Village of Tequesta 7129/2009 For the Period: 10/112008 to 7131/2009 12:13 pm Original Bud. Amended Bud. YTD Actual CURR MTH Encumb. YTD UnencBal % Bud Fund: 602 - VillageEmployee Pension-Gen Expenditures Dept: 000 General Acct Class: 530 Operating Expenditures/Expense 01/12/2009 GJ CK#1163 -Renaissance Resort at World Golf Village Hotel accomodation for 537.00 D. Mayo to attend trustee school 02/17/2009 GJ CK#1173 - M. Gload -Reimb for travel 8 meal expenses to attend 321.74 trustee school - feb01 to feb 04, 2009 02/1712009 GJ CK#1172 - D. Mayo -Reimb for travel and meal expenses to attend trustee 336.26 school from feb01 to feb04, 2009 02117/2009 GJ CK#1174 - L. McWilliams - 50%Reimb for travel and meal expenses to attend 149.79 trustee school from feb01 to 04, 2009 Travel & Per Diem 2,870,00 2,870.00 2,150.29 0.00 0.00 719.71 74.9 545.300 Insurance 10101/2008 GJ CK #1141 - GEHRING GROUP ANNUAL PF 10101108 - 9/30/09 FEDUCIARY LIABILITY 820.41 INSURANCE Insurance 1,000.00 1,000.00 820.41 0.00 0.00 179.59 82.0 549.300 Other Misc Chgs & Obligations 11/30/2008 GJ Nov 08 -Foreign Tax refund Salem Trust -5.41 $5.41 11/30/2008 RE Rvrs#214358 -Foreign Tax refund Salem Trust 5.41 $5.41 01/23/2009 GJ CK #1164 -IRS FEE FOR IRS DETERMINA LETTER 1,000.00 $1,000.00 0112812009 GJ CK#1165 Fee for voluntary correction program by IRS of the GEPF 500.00 $500 05104/2009 BA As per motion passed at Regular Pension Meeting 1,500.00 held on 514/09 05/3112009 GJ May 09 - ADR Issuer Fee Salem Trust 13.98 $13.98 Other Misc Chgs & Obligations 500.00 2,000.00 1,513,98 0.00 0.00 486.02 75.7 554.300 Books, Publ, Subs & Membership 11/30/2008 GJ CK #1157 - FPPTA Membership Fee for 2009 600.00 $600.00 02117/2009 GJ CK#1175 Advertisement for Gen Employees Pension Broad 164.92 Member -Scripps Newspapers 05104/2009 BA As per motion passed at Regular Pension Meeting 500.00 held on 5/4109 Books, Publ, Subs & Membership 600.00 1,100.00 764.92 0.00 0.00 335.08 69.5 554.600 Seminars & Training -Pensions 01112/2009 GJ CK#1160 - FL Public Pension Trustee School -Reg. to attend trustee school 1,000.00 for M.Gload, D. Mayo & L. McWilliams Seminars & Training -Pensions 1,000.00 1,000.00 1,000.00 0.00 0.00 0.00 100.0 Operating ExpenditureslExpense 28,550.00 33,650.00 29,314.86 679.60 0.00 4,335.14 87.1 Acct Class: 531 Investment Expense 531.307 Investment Services 01/3112009 GJ Jan 09 -Admin Expenses Salem Trust 375,00 $375.00 02/03/2009 GJ CK#1170 -Dana Investment Statement of management fees 1,263.74 qtr ended 12131108 02103/2009 GJ CK#1169 -Bogdahn Consulting Inv#3702 Qtrly Fee 1011/08 2,625.00 to 12131108 0413012009 GJ Apr 09 -Admin Expenses Salem Trust 859.68 $859.68 05/0512009 GJ CK#1188 -Bogdahn Consulting Inv#3981 - Qrtly fee from 1101109 2,625.00 to 3131109 - $2,625.00 05105/2009 GJ CK#1190 -Dana Investment Statement of mgmt fees for 1,169.84 qtr-ended 3131/09 07/06/2009 GJ Salem Fee and Commissions for the period 411/09 to 6/30/09 870.81 $870.81 Investment Services 23,000.00 23,000.00 9,789.07 870.81 0.00 13,210.93 42.6 Investment Expense 23,000.00 23,000.00 9,789.07 870.81 0.00 13,210.93 42.6 Acct Class: 590 Other Financing Sources & Uses 549.391 Bank Charges 11105/2008 GJ NOVEMBER OS -WIRE FEES TO TRANSFE FUNDS TO SUN AMERICAN BANK FROM ; 10.00 TRUST ON 11105/08 $10.00 01/12/2009 GJ JANUARY 09 -WIRE FEES TO TRANSFER TO SUN AMERICAN BANK FROM SALEM ~ 10.00 ON 1/12/09 03/3112009 GJ Mar 09 -Wire Fees to transfer funds to Sun American 10.00 Bank from Salem 05/05/2009 GJ May 09 -Checks fee for check books 69.20 $69.20 06112/2009 GJ Jun 09 -Wire fees to transfer funds to Sun American Bank 10.00 from Salem - 6112109 Bank Charges 230,00 230.00 109.20 0.00 0.00 120.80 47.5 Excess of additions over deduc 163,720.00 163,720.00 0.00 0.00 0.00 163,720.00 0.0 Other Financing Sources 8 Uses 163,950.00 163,950.00 109.20 0.00 0.00 163,840.80 0.1 General 215,500.00 220,600.00 39,213.13 1,550.41 0.00 181,386.87 17.8 EXPENDITURE REPORT Village of Tequesta For the Period: 10/112008 to 7/31/2009 Page: 6 7/29/2009 12:13 pm Original Bud. Amended Bud. YTD Actual CURR MTH Encumb. YTD UnencBal % Bud Fund: 602 - VillageEmpioyee Pension-Gen Expenditures 215,500.00 220,600.00 39,213.13 1,550.41 0.00. 181,386.87 17.8