pages: PensionBoard/2015-07-27.pdf, 3
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PensionBoard | 2015-07-27 | 3 | City of Alameda Minutes of the Regular Meeting of the Pension Board - Monday, July 27, 2015 Page 3 The Mayor asked where the funds come from to pay for the separate report. Finance Director Adair replied that it comes from the General Fund, as the entire Pension Fund is funded by the General Fund. The Mayor replied that the question is, is this sufficient information to save the City $10,000, and is the Board still doing it's due diligence to keep track of the Pension funds and to disperse it? Member Soderland stated that as long as the Board gets financial reports on the Pension Funds to see that the City is still paying the Pensioners, the Board is doing its job. Finance Director Adair stated that quarterly reports will continue to be provided and that the auditors also check Pensioners to see if they are being paid what they should be as part of the random audit picks for the City audit. Member Elzig moved that the Board accept staff recommendation that Pension reporting only be included in Pension Trust Funds Annual Financials Reports in the Comprehensive Annual Financial Report (CAFR). Motion was seconded by Member Soderlund. Passed 4-0. 5. ORAL COMMUNICATIONS, NON-AGENDA (PUBLIC COMMENT): There was no communication from the public. 6. PENSION BOARD COMMUNICATIONS (COMMUNICATIONS FROM BOARD): Member Soderlund stated he was very appreciative to the City for doing a good job and is thankful for all the City has done over the years in paying these Pensions. He noted Police and Fire personnel are very appreciative of what the City has done for them, to have something they can depend on through the years to come. 7. ADJOURNMENT: There being no further business to come before the Board, the meeting was adjourned at 4:50 p.m. Respectfully submitted, this Jill Koyacs Secrétary to the Pension Board | PensionBoard/2015-07-27.pdf |