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El Paso retirement trust reports modest net increase, reviews BNY Mellon statements; consent agenda approved unanimously
Summary
At its Feb. 19 meeting the City of El Paso Employees Retirement Trust reviewed BNY Mellon-prepared financial statements showing net assets of just over $1 billion and a net increase of about $9.9 million for the five months ended Jan. 31; the board then approved the consent agenda by unanimous vote.
The City of El Paso Employees Retirement Trust on Feb. 19 reviewed quarterly and fiscal-year financial statements compiled from reports prepared by BNY Mellon that showed net assets available for benefits of just over $1 billion and modest net additions through the first five months of the fiscal year.
A BNY Mellon representative told the board the statements are valuations at specific points in time and summarized key figures: total…
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