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HomeMy WebLinkAboutHandouts_Pension General_Handout No. 8_02/10/2010MEMORANDUM DATE: JANUARY 28, 2010 TO: LORI MCWILLIAMS, VILLAGE CLERK FROM: MONICA RAHIM, SENIOR ACCOUNTANT CC: JOANN FORSYTHE, FINANCE DIRECTOR RE: GENERAL EMPLOYEES PENSION TRUST FUND -BUDGET FY2011 Attached is the fiscal year 2011 Budget Worksheet for the General Employees Pension Trust Fund with a detailed Revenue and Expenditure Report as at January 28, 2010 for your review. Should anyone have questions please do not hesitate to ask for further clarification. Thank you. 1/28/102:26 PM BUDGET WORKSHEET FOR FY2011 Page: 3 112812010 Village of Tequesta 11:37 am Prior -----------------------------Current Year ----------- ----------------- l6) l7) C8) Year Original Amended Actual Thru Estimated ~r'2C'{h7S Month: 113112010 Actual Budget Budget January Total FY11 Fund: 602 - VillageEmployee Pension-Gen Revenues Dept: 000 General Acct Class: 361 Unrestricted Investment Eamin 361.100 Interestllnvestment Earnings 15,821 0 0 5,230 0 361.102 DividendlDistributions 15,549 0 0 3,752 0 361.103 Money funds Dividends 0 0 0 0 0 UnrestrictedlnvestmentEarnin 31,370 0 0 8,982 0 0 0 0 Acct Class: 367 Investment income 367.000 GainlLoss-Sale of Investments -32,303 0 0 2,305 0 367.100 Unrealized gain/loss on invest 36,267 0 0 31,513 0 Investment income 3,964 0 0 33,818 0 0 0 0 Acct Class: 368 Pension Contributions 368.001 Pension Fund Cont-Employer 141,407 164,500 164,500 45,141 0 368.002 Pension Fund Cont-Employee 87,722 91,700 91,700 28,003 0 Pension Contributions 229,129 256,200 256,200 73,144 0 0 0 0 Acct Class: 369 Miscellaneous Revenues 369.000 Other Miscellaneous Revenue 5 0 0 0 0 Miscellaneous Revenues 5 0 0 0 0 0 0 0 General 264,468 256,200 256,200 115,944 0 0 0 0 Dept: 990 OtherlReservelContingency ' Acct Class: 590 Other Financing Sources & Uses 399.600 Appropriate Net Assets 0 0 0 0 0 Other Financing Sources & Uses 0 0 0 0 0 0 0 0 OtherlReservelContingency 0 0 0 0 0 0 0 0 Total Revenues 264,468 256,200 256,200 115,944 0 0 0 0 Expenditures Dept: 000 General Acct Class: 530 Operating ExpenditureslExpense 531.301 Legal Services 531.304 Recording Secy Service 531.309 Actuarial Services 534.300 Other Contractual Services 540.300 Travel & Per Diem 545.300 Insurance 549.300 Other Misc Chgs 8 Obligations 549.320 IRS Filings & Communications 554.300 Books, Publ, Subs & Membership 554.600 Seminars & Training -Pensions Operating ExpenditureslExpense Acct Class; 531 Investment Expense 12,559 11,700 11,700 3,063 0 8,147 8,600 8,600 2,230 0 11,870 5,500 5,500 6,376 0 0 0 0 0 0 2,150 2,200 2,200 0 0 820 820 820 876 0 22 250 250 1 0 1,500 0 0 0 0 933 800 800 600 0 1,000 1,000 1,000 0 0 39,001 30,870 30,870 13,146 0 0 0 0 BUDGET WORKSHEET , FOR FY2011 Page: 4 112812010 Village of Tequesta 11:37 am Prior --- ---Current Year ------- --------- (6) (7) (8) Year Original Amended ActualThru Estimated ~QtC+S~~ Month: 113112010 Actual Budget Budget January Total FY11 Fund: 602 - VillageEmployee Pension-Gen Expenditures Dept: 000 General Acct Class: 531 Investment Expense 531.307 Investment Services 5,607 19,000 19,000 1,839 0 531.350 Custodial Services -Invest. 4,500 0 0 0 0 531.3551nvestmentAdvisors 10,500 0 0 2,625 0 Investment Expense 20,607 19,000 19,000 4,464 0 0 0 0 Acct Class: 590 Other Financing Sources & Uses 549.391 Bank Charges 119 200 200 10 0 590.600 Excess of additions over deduc 0 206,130 206,130 0 0 Other Financing Sources & Uses 119 206,330 206,330 10 0 0 0 0 General 59,727 256,200 256,200 17,620 0 0 0 0 Dept: 165 Pension Acct Class: 530 Operating ExpenditureslExpense 531.300 Professional Services 0 0 0 0 0 536.300 Pension DistributionslRefunds 609 0 0 0 0 Operating ExpenditureslExpense 609 0 0 0 0 0 0 0 Acct Class: 531 Investment Expense 531.307 Investment Services 0 0 0 0 0 Investment Expense 0 0 0 0 0 0 0 0 Pension 609 0 0 0 0 0 0 0 Total Expenditures 60,336 256,200 256,200 17,620 0 0 0 0 VillageEmployeePension-Gen 204,132 0 0 98,324 0 0 0 0 REVENUEIEXPENDITURE REPORT Page: 4 Village of Tequesta 112812010 For the Period: 101112009 to 913012010 11:41 am Original Bud. Amended Bud. YTD Actual CURR MTH Encumb. YTD UnencBal % Bud Fund Type: 600 Trust and Agency Funds Fund: 602 - Vi llageEmployee Pension-Gen Revenues Function: 000 General Revenues Dept: 000 General Acct Cla ss: 361 Unrestricted Investment Earnin 361.100 InterestllnvestmentEornings 1013112009 GJ Oct 09 -Interest from Salem Trust 1,756.62 $1,756.62 1013112009 GJ Oct 09 Rvs Sep 09 Accrued Income Salem Trust -5,189.02 10131/2009 GJ Oct 09 Rvs Sep 09 Accrued Income Salem Trust 5,125.16 1013112009 RE Rvs#237916 -Rvs Sep 09 Accrued Income Salem Trust 5,189.02 1013112009 RE Rvs#237916 -Rvs Sep 09 Accrued Income Salem Trust -5,125.16 1013112009 GJ Oct 09 Rvs Sep 09 Acc Income Salem Trust -5,189.02 1013112009 GJ Oct 09 Acc Income Salem Trust 5,125.16 10131/2009 GJ Oct 09 Rvs Sep 09 Acc Income Salem Trust -78.69 1013112009 GJ Oct 09 -Acc Income InYI Salem Trust 78.71 1113012009 GJ Nov 09 Interest Salem Trust 2,378.49 $2,378.49 11130/2009 GJ Nov 09 Rvs Oct 09 Acc Income Salem Trust -5,125.16 $5,125.16 11/3012009 GJ Nov 09 Acc Income Salem Trust 4,475.44 $4,475.44 11/30/2009 GJ Nov 09 Rvs Oct 09 Acc Income Salem Trust -78.71 $78.71 11/30/2009 GJ Nov 09 Acc Income InYI fund -Salem Trust 172.35 $172.35 1113012009 GJ Nov 09 -Interest Salem Trust 0.02 $.02 1113012009 RE Nov 09 Rvs Oct 09 Acc Income Salem Trust 78.71 $78.71 11/30/2009 GJ Nov 09 Rvs Oct 09 Acc Income Salem Trust -78.71 12/31/2009 GJ Dec 09 -Interest Salem 0.02 12/31/2009 GJ Dec 09 Rvs Nov 09 Acc Income Salem Trust -172.35 1213112009 GJ Dec 09 -Acc Income Salem Trust 218.85 12/3112009 GJ Dec 09 Interest Salem 662.46 $662.46 12131/2009 GJ Dec 09 Acc Income Salem Trust 5,481.61 1213112009 GJ Dec 09 Rvs Nov 09 Acc Income Salem Trust -4,475.44 InterestllnvestmentEornings 361.102 DividendlDistributions 1013112009 GJ Oct 09 -Dividends 11130/2009 GJ Nov 09 -Dividends 1213112009 GJ Dec 09 -Dividends 1213112009 GJ Dec 09 -Dividend Dividend/Distributions 0.00 from Salem Trust Salem Trust Salem Trust Salem Trust 0.00 0.00 .00 5,230.36 821.93 1,264.30 285.89 1,380.12 3,752.24 0.00 $821.93 $1,264.30 $1,380.12 0.00 0.00 -5,230.36 0.0 .00 -3,752.24 0.0 Unrestricted Investment Eamin 0.00 0.00 8,982.60 0.00 0.00 -8,982.60 0.0 Acct Class: 367 Investment income 367.000 GainlLoss-Sale of Investments 10!3112009 GJ Oct 09 -Sale of Invest -Loss Salem Trust 13,292.16 1013112009 GJ Oct 09 -Sale of Invest -Loss Salem Trust -13,323.31 1113012009 GJ Nov 09 - Sale of invest Salem Trust 191,370.25 11130/2009 GJ Nov 09 -Sale of invest Salem Trust -189,067.47 12/3112009 GJ Dec 09 -Sale of Invest -Loss Salem Trust 15,716.29 1213112009 GJ Dec 09 - Sale of Invest -Loss Salem Trust -15,784.56 1213112009 GJ Dec 09 - Sale of Invest Salem Trust -69,220.67 12/3112009 GJ Dec 09 -Sale of Invest Salem Trust 69,322.22 Gain/Loss-Sale of Investments 0,00 0.00 2,304.91 0.00 0.00 -2,304.91 0.0 367.100 Unrealized gainlloss on invest 10/3112009 GJ Oct 09 -Unrealized loss Salem Trust -14,210.50 1013112009 GJ Oct 09 -Unrealized loss Salem Trust -3,542.07 1013112009 GJ Oct 09 Unrealized loss Salem Trust -3,542.07 1013112009 RE Rvs#237957 -Oct 09 -Unrealized loss Salem Trust 3,542.07 1113012009 GJ Nov 09 Unrealized gain Salem Trust 36,576.68 11130/2009 GJ Nov 09 Unrealized gain InYI Fund -Salem Trust 5,233.08 $5,233.08 12/3112009 GJ Dec 09 -Unrealized Gain Salem Trust 2,546.11 REVENUEIEXPENDITURE REPORT Page: 5 Village of Tequesta 1/2812010 For the Period: 101112009 to 913012010 11:41 am Fund Type: 600 Trust and Agency Funds Fund: 602 - ViltageEmployee Pension-Gen Revenues Function: 000 General Revenues Dept: 000 General Acct Class: 367 Investment income 1213112009 GJ Dec 09 Unrealized Gain Unrealized gainlloss on invest Original Bud. Amended Bud. YTD Actual CURR MTH Encumb. YTD UnencBal % Bud Salem Trust 4,909.69 $4,909.69 0.00 0.00 31,512.99 0.00 0.00 -31,512.99 0.0 Investment income Acct Class: 368 Pension Contributions 368.001 Pension Fund Cont-Employer 10/15/2009 GJ VOT PENSION DEPOSIT 10115109 1012912009 GJ VOT PENSION DEPOSIT 10/29/09 11/1212009 GJ VOT PENSION DEPOSIT 11/12109 1112512009 GJ VOT PENSION DEPOSIT PID 11/25/09 1211012009 GJ VOT PENSION DEPOSIT 12110/09 12123/2009 GJ VOT PENSION DEPOSIT PAYDATE 1212311 01/07/2010 GJ VOT PENSION DEPOSIT 01107110 0112112010 GJ VOT PENSION DEPOSIT-PD 01/21110 Pension Fund Cont-Employer 368.002 Pension Fund Cont-Employee 10/15/2009 GJ VOT PENSION DEPOSIT 10115109 1012912009 GJ VOT PENSION DEPOSIT 10129109 1111212009 GJ VOT PENSION DEPOSIT 11112/09 1112512009 GJ VOT PENSION DEPOSIT PID 11!25109 12/1012009 GJ VOT PENSION DEPOSIT 12/10109 12123/2009 GJ VOT PENSION DEPOSIT PAYDATE 1212311 0110712010 GJ VOT PENSION DEPOSIT 01107/10 0112112010 GJ VOT PENSION DEPOSIT-PD 01121110 Pension Fund Cont-Employee Pension Contributions General General Revenues 0.00 0.00 33,817.90 164,500.00 164,500.00 91,700.00 256,200.00 256,200.00 256,200.00 91,700.00 256,200.00 256,200.00 256,200.00 4,161.39 5,904.60 5,906.66 5,904.11 5,907.20 5,906.42 5,874.12 5,576.08 45,140.58 2,581.51 3,662.91 3,664.18 3,662.60 3,664.52 3,664.03 3,644.00 3,459.10 28,002.85 73,143.43 115,943.93 115,943.93 0.00 0.00 -33,817.90 0.0 0.00 0.00 119,359.42 27.4 0.00 0.00 63,697.15 30.5 0.00 0.00 183,056.57 28.5 0.00 0.00 140,256.07 45.3 0.00 0.00 140,256.07 45.3 Revenues 256,200.00 256,200.00 115,943. 93 0.00 Expenditures Function: 000 General Revenues Dept: 000 General Acct Class: 530 Operating ExpenditureslExpense 531.301 Legal Services 1110212009 FA CK#1226 Perry 8 Jensen -Legal services fy10. Inv#63369 115 .75 $115.75 1110212009 GJ CK#1226 Perry and Jensen -Legal services fy10 Inv#63369 115 .75 $115.75 1110212009 RE Rvs#234634 - CK#1226 Perry & Jensen Legal services fy10. Inv#63369 -115 .75 $115.75 12/0712009 RE Rvs#237361 - CK#1232 Perry & Jensen Legal Services - Inv#63414 -2,770 .05 $2,770.05 12/0712009 GJ CK#1232 Perry & Jensen Legal Services - Inv#63414 2,770 .05 $2,770.05 1211512009 GJ CK#1234 -Perry & Jensen Legal Services Inv#63413 1,659 .05 $1,659.05 0112012010 GJ Record Perry 8 Jensen legal servises Inv.#63465 - $257.75 257 .75 01126/2010 GJ Record Perry & Jensen Legal Services for period ended 1,030 .92 1/15110 Legal Services 11,700.00 11,700.00 3,063 .47 0.00 531.304 Recording Secy Service 1012912009 GJ CK#1227 -Business Services Conn Inv#9-133 Office work for wle 267 .60 10116 and 10123109 11112/2009 GJ CK#1228 -Business Services Conn Inv#9-137 Office work for wle 267 .60 10130109 and 1116109 0.00 140,256.07 45.3 0.00 8,636.53 26.2 REVENUEIEXPENDITURE REPORT Page: 6 Village of Tequesta 1128/2010 For the Period: 101112009 to 913012010 11 :41 am Original Bud. Amended Bud. YTD Actual CURR MTH Encumb. YTD UnencBal % Bud Fund Type: 600 Trust and Agency Funds Fund: 602 -VillageEmployee Pension-Gen Expenditures Function: 000 General Revenues Dept: 000 General Acct Class: 530 Operating ExpenditureslExpense 11/2512009 GJ CK#1229 -Business Services Con Inv#9-144 Office work for wle 267.60 11113 and 11120/09 1 210 712 0 0 9 GJ CK#1233 -Business Services Conn Inv#9-142 Attend gtrly meeting on 356.80 1112109 & prepare minutes 12110/2009 GJ CK#1231 -Business Services Conn Inv#9-150 -Office work for 267.60 wle 11127 and 12104/09 12123/2009 GJ CK#1235 -Business Services Conn Inv#9-153 Office work for wle 267.60 12111 and 12/18109 0110812010 GJ CK#1236 -Business Services Conn Inv#9-159 Office work for wle 267.60 12/25/09 and 111110 01/2012010 GJ Record Business Services Connection Inv.#10-3 - $267.60 Office work forweek 267.60 ended 118110 and 1115/10 Recording Secy Service 8,600.00 8,600.00 2,230.00 0.00 0.00 6,370.00 25.9 531.309 Actuarial Services 0112012010 GJ Garbiel, Roeder, Smith & Co Inv.#110225 $6,376.00 Completion of the 1011/09 6,376.00 valuation report & prep for mtg 1112109 Actuarial Services 5,500.00 5,500.00 6,376.00 0.00 0.00 -876.00 115.9 Travel & Per Diem 2,200.00 2,200.00 0.00 0.00 0.00 2,200.00 0.0 545.300 Insurance 1012612009 GJ CK#1222 -Fiduciary liabiliiy insurance policy for period 1011/09 to 1011110 876.07 Insurance 820.00 820.00 876.07 0.00 0.00 -56.07 106.8 549.300 Other Misc Chgs 8 Obligations 1213112009 GJ Dec 09 - ADR Issuer Fee Salem 0.83 Other Misc Chgs & Obligations 250.00 250.00 0.83 0.00 0.00 249.17 0.3 554.300 Books, Publ, Subs & Membership 1210712009 GJ CK#1230 - FPPTA Membership fee for year 2010 600.00 $600 Books, Publ, Subs & Membership 800.00 800.00 600.00 0.00 0.00 200.00 75.0 Seminars & Training -Pensions 1,000.00 1,000.00 0.00 0.00 0.00 1,000.00 0.0 Operating ExpenditureslExpense 30,870.00 30,870.00 13,146.37 0.00 0.00 17,723.63 42.6 Acct Class: 531 Investment Expense 531.307 Investment Services 0112012010 GJ Record Dana Investment Statement of Management fees for QTR-ended 12131109 1,839.12 $1,839.12 Investment Services 19,000.00 19,000.00 1,839.12 0.00 0.00 17,160.88 9.7 531.355 Investment Advisors 01120/2010 GJ Record Bogdahn Consulting Inv.#4824 $2,625.00 Otrly fee 10/01/09 to 12/31/09 2,625.00 Investment Advisors 0.00 0.00 2,625.00 0.00 0.00 -2,625.00 0.0 investment Expense 19,000.00 19,000.00 4,464.12 0.00 0.00 14,535.88 23.5 Acct Class: 590 Other Financing Sources & Uses 549.391 Bank Charges 1213112009 GJ Dec 09 -Wire fees to transfer funds to Sun American Bank 10.00 from Salem to Gen Empl Acct Bank Charges 200.00 200.00 10.00 0.00 0.00 190.00 5.0 Excess of additions over deduc 206,130.00 206,130.00 0.00 0.00 0.00 206,130.00 0.0 Other Financing Sources & Uses General General Revenues Expenditures Net Effect for VillageEmployee Pension-Gen Change in Fund Balance: 206,330.00 206,330.00 10.00 0.00 0.00 206,320.00 0.0 256,200.00 256,200.00 17,620.49 0.00 0.00 238,579.51 6.9 256,200.00 256,200.00 17,620.49 0.00 0.00 238,579.51 6.9 256,200.00 256,200.00 17,620.49 0.00 0.00 98,323.44 98,323.44 0.00 0.00 238,579.51 6.9 0.00 0.00 -98,323.44