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Council accepts Police and Firemen’s Pension Fund FY2024 report
Summary
The Police and Firemen’s Pension Fund FY2024 report showed a beginning balance of $530,000, $60,000 general-fund contribution, $13,000 state contribution, $39,000 investment income, $97,000 in benefits, and an ending fair-market value of $549,000; the council accepted the report.
Ms. Morgan Nys (speaker 11) presented the Police and Firemen’s Pension Fund FY2024 report and asked council to accept it. She said the fund began the year with $530,000; the general fund contributed $60,000 and the state contributed $13,000; investment income amounted to $39,000 (including capital gains, interest and dividends); the fund received $4,400 from accident reports; benefits paid were $97,000 (salary and health insurance) and administrative costs were about $1,000. She reported a net income of $18,000 and a total fair market value of $549,000.
A council member moved to accept the report and the motion was seconded. Councilors did not record extended discussion on the floor and the report was accepted for the record.
