2013–2014 BIENNIAL BUDGET - the City of Tukwila

2013–2014 Biennial Budget City of Tukwila, WashingtonDEPARTMENT: N/ADIVISION: N/AFUND: Firemen’s Pension FUND NUMBER: 611RESPONSIBLE MANAGER: Peggy McCarthyPOSITION: DirectorDescriptionThis fund essentially exists to support eleven (11) firefighters who qualify for a City pension systemprior to 1971.Firemen’s Pension Fund2010 2011 2012 2013 2014 2012-13 2013-14Object Description ACTUAL ACTUAL BUDGET BUDGET BUDGET % change % change20 Personnel Benefits $ 58,744 $ 56,576 $ 45,000 $ 60,900 $ 62,727 35.33% 3.00%40 Prof Services 3,000 7,800 21,000 10,000 10,000 -52.38% 0.00%EXPENDITURE TOTAL 61,744 64,376 66,000 70,900 72,727 7.42% 2.58%REVENUEFire Insurance Premium Tax 49,989 54,865 50,000 56,650 56,650 13.30% 0.00%Miscellaneous Revenue 4,405 1,746 3,872 2,000 2,000 -48.35% 0.00%REVENUE TOTAL $ 54,394 $ 56,611 $ 53,872 $ 58,650 $ 58,650 8.87% 0.00%FUND BALANCEChange in Fund Balance * (7,350) (7,765) (12,128) (12,250) (14,077) 1.01% 14.91%Beginning Fund Balance 1,437,172 1,429,822 1,437,872 1,420,000 1,407,750 -1.24% -0.86%Ending Fund Balance 1,429,822 1,422,057 1,425,744 1,407,750 1,393,673 -1.26% -1.00%* Change in fund balance equals revenues over/(under) expendituresBudget ChangesBudget changes for Firemen’s Pension Fund include a decrease in professional services for excessretirement benefits and increased benefit payments.Firemen’s Pension FundRevenueBacked2012 Budget Non DiscretionaryDiscretionaryInitiativesTransfers2013Budget20-Benefits $ 45,000 $ - $ 15,900 $ - $ - $ - $ 60,900 $ 1,827 $ - $ - $ - $ - $ 62,72740-Prof Serv 21,000 - (11,000) - - - 10,000 - - - - - 10,000Total $ 66,000 $ - $ 4,900 $ - $ - $ - $ 70,900 $ 1,827 $ - $ - $ - $ - $ 72,727RevenueBackedNon DiscretionaryDiscretionaryInitiativesTransfers2014BudgetProfessional ServicesFiremen’s Pension FundAccount Number Purpose 2013 2014611.00.522.200.41.00 Professional Services $ 10,000 $ 10,000Total Professional Services $ 10,000 $ 10,000Page 337