Policemen's Pension And Relief Fund Board Of Trustees

City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Policemen's Pension & Relief Fund Board of Trustees Agenda Thursday, October 17, 2024 3:00 PM City Hall Room 326 Board of Trustees Lioneld Jordan - Mayor & Chairman Kara Paxton - City Clerk Treasurer Eldon Roberts - Position 1 & Secretary Ruston Cole - Position 2 John Brown - Position 3 Melvin Stanley - Position 4 Rick Hoyt - Position 5 Policemen's Pension & Relief Policemen's Pension & Relief October 17, 2024 Fund Meeting Fund Board of Trustees Agenda ROLL CALL REPORTS GARRISON FINANCIAL REPORT FOR JUNE 30, 2024 & SEPTEMBER 30, 2024. (2024-609) REVENUE & EXPENSE SUMMARY REPORT FOR JUNE 30, 2024 AND SEPTEMBER 30, 2024. (2024-610) UNFINISHED BUSINESS - NONE NEW BUSINESS APPROVAL OF THE APRIL 18, 2024 BOARD OF TRUSTEES MEETING MINUTES. (2024-612) PENSION LIST APPROVAL FOR THE MONTHS OF NOVEMBER 2024 - APRIL 2025. (2024-613) ANNOUNCEMENT OF THE 2024 ELECTION RESULTS - BOARD OF TRUSTEES (2024-617) NEXT MEETING INFORMATION THE NEXT MEETING WILL BE HELD ON APRIL 17, 2025 AT 3:00P.M. (2024- 611) City of Fayetteville, Arkansas page 2 July 11, 2024 Ms. Kara Paxton City of Fayetteville 113 West Mountain Street Fayetteville, Arkansas 72701‐6069 Dear Kara, Enclosed are your quarterly reports for the quarter ended June 30, 2024. We hope you had a safe and exciting 4th of July celebrating America’s birthday. As usual, I spent some quality time with family and friends, and we shot our fair share of fireworks. Luckily my kids are now past the sparkler stage so the scorching pain of a searing hot sparkler tip dropping between my toes in days gone by was avoided. Equity market performance in the first half of the year has drawn several parallels to the fireworks many of us enjoyed last week. There were handful of big boomers, several small pops and many complete duds. The biggest of the big domestic equities continued their out performance while everything else was relatively insignificant or downright disappointing. The S&P 500 charged ahead +4.28% during the second quarter leaving it up +15.29% year to date. Large‐cap market breadth was again highly concentrated, with two‐thirds of the performance attributed to just 7 stocks in an index made up of over 500. Further illustrating the lopsided market is the equal‐weighted S&P 500, which was down ‐2.63% in the 2nd quarter and is trailing its market‐cap weighted sister by 10 percentage points year to date up only +5.07%. Of the eleven sectors that make up the S&P 500, five posted positive gains in the quarter while six retreated. The top performing sectors were Technology up +13.61%, Communication Services up +9.11%, and Utilities up +3.85%. Laggards were Materials, Industrials and Energy down, ‐4.90%, ‐3.26% and ‐3.19% respectively. About 60% of the index ended the quarter in the red and the advance‐decline line began to slide, which represents the number of stocks rising and falling and can be a sign of trouble under the hood. Market pundits have been waiting for the stock market’s rally to broaden out beyond the largest of technology stocks for well over a year now, but six months into 2024, they’re still waiting. The last three months have only exacerbated the problem as returns among individual stocks grew even more concentrated. Nvidia, Microsoft, Apple, Alphabet (Google), Meta, Google and Broadcom are all the buzz right now as everyone wants in on the AI craze. These seven companies alone account for over half of the gains in the market since the start of 2023. They currently make up 33% of the S&P 500 index, which is the most concentrated in history. The technology sector also makes up 33% of the index which eclipses its previous high of 29% back in 1999. Amazon is classified as Consumer Discretionary and Meta as Communication Services, but I think we can all agree they are basically technology companies too. Add them to the tech sector and that percentage rises to over 39% of the index. Everyone over 45 will likely remember the tech boom and bust that came at the turn of the century as the internet was being built out. The bursting of the internet bubble shaved more than half off the tech sector weighting as it had dropped to 14% by 2002. I’m not suggesting we’re headed for a repeat of the internet bubble collapse, but it certainly gives us pause as we head into the second half of the year. Technological breakthroughs are exciting and have no doubt added to productivity and our quality of life. However, greed and herd mentality of investors is nothing new and as history shows, can sometimes be painful. What does this mean? In a nutshell, prudently structured diversified portfolios underperformed the widely watched S&P 500 index, just as they did back in the late 1990s as everyone was piling into a handful of hot stocks. Does this mean we should scrap decades old prudent portfolio management practices? In our opinion, the answer is emphatically no. The bond market as measured by the Barclays Intermediate Term Govt./Corp. index gained +64 basis points for the quarter as rates dropped on positive inflation data. Year to date the index is up only +.49% as inflation fears in the first quarter caused the index to lose ground in the first three months of the year. The 10yr Treasury yield was 4.4% at the end of June as compared to 3.93% at the first of the year and 4.6% at the end of March. The Federal Reserve has been on hold for almost a year with the last rate hike taking place July 24th, 2023. Many expect the Fed to deliver the first interest rate cut since the pandemic in September, which is likely already priced into both the stock and bond market. Economic data is beginning to soften. Inflation is slowing down but high prices are still putting many consumers under financial stress. Unemployment is still low but did tick up to 4.1% last month. We expect the breakneck gains in equities to moderate and volatility to likely kick up in the second half of the year as the market grapples with stretched valuations, a slowing economy and the uncertainty surrounding the U.S. elections. As always, we appreciate your trust and confidence in our firm, and look forward to serving you in the years to come. If you have any questions or would like to schedule a review, please call our office. Cordially, Kerry Bradley, CFA, MBA President Garrison Asset Management 605 W. Dickson Street, Suite 201  Fayetteville, Arkansas 72701 479-587-1045  888-442-7637  479-587-1257 Facsimile  www.GarrisonFinancial.com City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 Quarter Ending June 30, 2024  PORTFOLIOSUMMARY City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 June 30, 2024 0.1% 4.3% 29.8% Cash & Equivalents 6,345.95 Money Market 253,686.48 65.8% Account Fixed Income 1,772,661.41 Account Equities 3,919,311.26  PORTFOLIO APPRAISAL City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 June 30, 2024 Adj Unit Total Adjusted Market Pct. Unit Annual Quantity Security Cost Cost Price Value Assets Income Income Yield CASH AND EQUIVALENTS Schwab Bank Sweep 6,345.95 6,345.95 0.1 0.450 28.56 0.4 6,345.95 6,345.95 0.1 28.56 0.4 TRADED - MONEY MARKET 253,686.48 Schwab Govt Money 1.00 253,686.48 1.00 253,686.48 4.3 5.010 12,709.69 5.0 Fund Investor Shares 253,686.48 253,686.48 4.3 12,709.69 5.0 CERTIFICATE OF DEPOSIT 53,000 Wells Fargo Bank NT 100.00 53,000.00 99.63 52,804.38 0.9 4.800 2,544.00 5.4 SD 4.800% Due 01-29-25 Accrued Interest 1,059.42 0.0 53,000.00 53,863.80 0.9 2,544.00 5.4 TREASURY BILL 130,000 US Treasury Bill 99.86 129,818.13 99.85 129,810.41 2.2 0.000 0.00 4.8 0.000% Due 07-11-24 300,000 US Treasury Bill 98.25 294,750.11 98.24 294,733.65 5.0 0.000 0.00 5.3 0.000% Due 10-31-24 71,000 US Treasury Bill 99.71 70,794.04 99.47 70,622.81 1.2 4.250 3,017.50 5.4 4.250% Due 12-31-24 Accrued Interest 0.00 0.0 495,362.28 495,166.87 8.3 3,017.50 5.2 AGENCY BONDS 80,000 Federal Home Loan 100.00 80,000.00 99.92 79,933.84 1.3 5.500 4,400.00 5.6 Bank 5.500% Due 01-26-26 60,000 Federal Home Loan 100.02 60,013.77 100.05 60,027.42 1.0 6.000 3,600.00 6.1 Bank 6.000% Due 11-28-28 Accrued Interest 2,202.22 0.0 140,013.77 142,163.48 2.4 8,000.00 5.8 CORPORATE BONDS 110,000 JB Hunt Transport 101.97 112,171.65 97.76 107,538.09 1.8 3.875 4,262.50 5.4 Services, Inc. 3.875% Due 03-01-26 100,000 Adobe, Inc. 103.18 103,175.80 93.37 93,369.20 1.6 2.150 2,150.00 5.0 2.150% Due 02-01-27 110,000 Kroger Company 102.36 112,595.25 95.98 105,578.55 1.8 3.700 4,070.00 5.2 3.700% Due 08-01-27 60,000 Laboratory Corporation 102.72 61,634.41 95.08 57,045.72 1.0 3.600 2,160.00 5.4 of America Holdings 3.600% Due 09-01-27 110,000 General Dynamics 101.52 111,675.38 92.86 102,141.38 1.7 2.625 2,887.50 5.0 Corporation 2.625% Due 11-15-27 100,000 Tyson Foods, Inc. 112.62 112,622.71 96.05 96,047.50 1.6 4.350 4,350.00 5.4 4.350% Due 03-01-29 71,000 Polaris Inc. 105.55 74,943.53 104.55 74,233.13 1.2 6.950 4,934.50 5.9 6.950% Due 03-15-29 100,000 PepsiCo, Inc. 102.77 102,773.29 90.42 90,419.50 1.5 2.625 2,625.00 4.8 2.625% Due 07-29-29 1  PORTFOLIO APPRAISAL City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 June 30, 2024 Adj Unit Total Adjusted Market Pct. Unit Annual Quantity Security Cost Cost Price Value Assets Income Income Yield 110,000 FedEx Corporation 100.08 110,092.37 91.56 100,720.29 1.7 3.100 3,410.00 5.1 3.100% Due 08-05-29 70,000 Avnet, Inc. 96.25 67,373.96 97.43 68,200.02 1.1 5.500 3,850.00 6.0 5.500% Due 06-01-32 70,000 Arrow Electronics, Inc. 99.08 69,355.78 98.35 68,847.38 1.2 5.875 4,112.50 6.2 5.875% Due 04-10-34 Accrued Interest 11,634.01 0.2 1,038,414.14 975,774.76 16.4 38,812.00 5.3 COMMON STOCK 1,680 AT&T, Inc. 21.31 35,806.37 19.11 32,104.80 0.5 1.110 1,864.80 5.8 525 AbbVie, Inc. 66.58 34,953.92 171.52 90,048.00 1.5 6.200 3,255.00 3.6 710 Abbott Laboratories 39.36 27,945.60 103.91 73,776.10 1.2 2.200 1,562.00 2.1 300 Accenture Plc. 90.81 27,241.91 303.41 91,023.00 1.5 5.160 1,548.00 1.7 600 Akamai Technologies, 55.76 33,454.45 90.08 54,048.00 0.9 0.000 0.00 0.0 Inc. 380 Alphabet, Inc. Class C 125.26 47,597.47 183.42 69,699.60 1.2 0.800 304.00 0.4 435 American Electric 78.40 34,102.70 87.74 38,166.90 0.6 3.520 1,531.20 4.0 Power 295 Amgen, Inc. 114.33 33,727.26 312.45 92,172.75 1.5 9.000 2,655.00 2.9 250 Ansys, Inc. 75.67 18,918.47 321.50 80,375.00 1.4 0.000 0.00 0.0 560 Apple, Inc. 17.86 10,002.18 210.62 117,947.20 2.0 1.000 560.00 0.5 685 AptarGroup, Inc. 63.47 43,477.91 140.81 96,454.85 1.6 1.640 1,123.40 1.2 480 Arista Networks, Inc. 52.16 25,035.29 350.48 168,230.40 2.8 0.000 0.00 0.0 56 Aspen Technology 166.30 9,312.80 198.63 11,123.28 0.2 0.000 0.00 0.0 33 AutoZone, Inc. 516.09 17,031.09 2,964.10 97,815.30 1.6 0.000 0.00 0.0 1,350 BCE, Inc. 24.40 32,934.20 32.37 43,699.50 0.7 2.900 3,915.00 9.0 200 Becton, Dickinson & 111.11 22,222.05 233.71 46,742.00 0.8 3.800 760.00 1.6 Company 125 Broadcom, Inc. 239.03 29,878.15 1,605.53 200,691.25 3.4 21.000 2,625.00 1.3 225 Broadridge Financial 41.33 9,298.79 197.00 44,325.00 0.7 3.200 720.00 1.6 Solutions, Inc. 385 Bunge Global SA 84.56 32,556.82 106.77 41,106.45 0.7 2.720 1,047.20 2.5 1,445 Cisco Systems, Inc. 19.70 28,470.99 47.51 68,651.95 1.2 1.600 2,312.00 3.4 1,400 Coca-Cola Company 30.98 43,374.60 63.65 89,110.00 1.5 1.940 2,716.00 3.0 865 ConocoPhillips 55.58 48,077.77 114.38 98,938.70 1.7 3.120 2,698.80 2.7 220 Deere & Co. 87.76 19,307.71 373.63 82,198.60 1.4 5.880 1,293.60 1.6 500 Disney, Walt Company 110.91 55,454.90 99.29 49,645.00 0.8 0.900 450.00 0.9 250 EOG Resources Inc 132.67 33,166.43 125.87 31,467.50 0.5 3.640 910.00 2.9 100 Eaton Corporation 320.42 32,042.23 313.55 31,355.00 0.5 3.760 376.00 1.2 600 Intel Corporation 20.53 12,320.72 30.97 18,582.00 0.3 0.500 300.00 1.6 560 Johnson & Johnson 64.70 36,229.62 146.16 81,849.60 1.4 4.960 2,777.60 3.4 365 Kimberly-Clark 107.07 39,079.82 138.20 50,443.00 0.8 4.880 1,781.20 3.5 Corporation 335 Labcorp Holdings Inc. 108.13 36,221.93 203.51 68,175.85 1.1 2.880 964.80 1.4 450 Lincoln Electric 67.20 30,239.08 188.64 84,888.00 1.4 2.840 1,278.00 1.5 Holdings, Inc. 65 MSCI, Inc. 514.92 33,469.77 481.75 31,313.75 0.5 6.400 416.00 1.3 120 Mastercard, Inc. 295.65 35,477.92 441.16 52,939.20 0.9 2.640 316.80 0.6 640 Medtronic Plc. 77.60 49,662.77 78.71 50,374.40 0.8 2.800 1,792.00 3.6 755 Merck & Co., Inc. 49.00 36,994.17 123.80 93,469.00 1.6 3.080 2,325.40 2.5 210 Palo Alto Networks 126.26 26,514.23 339.01 71,192.10 1.2 0.000 0.00 0.0 475 Pepsico, Inc. 93.75 44,533.57 164.93 78,341.75 1.3 5.420 2,574.50 3.3 630 Phillips 66 72.18 45,473.90 141.17 88,937.10 1.5 4.600 2,898.00 3.3 570 Procter & Gamble 59.42 33,868.04 164.92 94,004.40 1.6 4.030 2,297.10 2.4 Company 100 Quanta Services, Inc. 269.38 26,938.22 254.09 25,409.00 0.4 0.360 36.00 0.1 2  PORTFOLIO APPRAISAL City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 June 30, 2024 Adj Unit Total Adjusted Market Pct. Unit Annual Quantity Security Cost Cost Price Value Assets Income Income Yield 500 Revvity, Inc. 97.03 48,515.80 104.86 52,430.00 0.9 0.280 140.00 0.3 825 Roche Holding, Ltd. 43.72 36,069.41 34.67 28,602.75 0.5 1.350 1,113.75 3.9 ADR 330 Rockwell Automation, 165.23 54,524.36 275.28 90,842.40 1.5 5.000 1,650.00 1.8 Inc. 470 Texas Instruments, Inc. 58.53 27,511.42 194.53 91,429.10 1.5 5.200 2,444.00 2.7 710 Ventas, Inc. 73.52 52,195.91 51.26 36,394.60 0.6 1.800 1,278.00 3.5 355 Verisk Analytics, Inc. 81.80 29,039.45 269.55 95,690.25 1.6 1.560 553.80 0.6 500 Vertiv Holdings 19.01 9,504.95 86.57 43,285.00 0.7 0.100 50.00 0.1 Company 1,785 WalMart, Inc. 20.70 36,953.86 67.71 120,862.35 2.0 0.830 1,481.55 1.2 510 Waste Management, Inc. 42.21 21,525.65 213.34 108,803.40 1.8 3.000 1,530.00 1.4 500 Xylem, Inc. 64.30 32,148.42 135.63 67,815.00 1.1 1.440 720.00 1.1 252 Zscaler, Inc. 243.08 61,256.26 192.19 48,431.88 0.8 0.000 0.00 0.0 1,681,661.32 3,615,422.01 60.7 64,945.50 1.8 MUTUAL FUNDS 3,005.194 Dodge & Cox Intl Stk 44.60 134,035.74 50.71 152,393.39 2.6 1.130 3,395.87 2.2 2,854.593 Invesco Oppenheimer 38.91 111,064.73 39.67 113,241.70 1.9 0.310 884.92 0.8 Developing Mkts Cl Y 245,100.47 265,635.09 4.5 4,280.79 1.6 UNIT TRUSTS 2,059 FT Energy Income ETF 38.85 79,999.27 18.58 38,254.16 0.6 1.300 2,676.70 7.0 3,350 iShares S&P US Pfd Stk 38.34 128,422.50 31.55 105,692.50 1.8 2.000 6,700.00 6.3 208,421.77 143,946.66 2.4 9,376.70 6.5 TOTAL PORTFOLIO 4,122,006.18 5,952,005.11 100.0 143,714.74 3.0 You should carefully compare this statement to the statement you receive from your custodian and notify us immediately of any discrepancies. 3  PURCHASE AND SALE City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 From 01-01-24 To 06-30-24 Trade Settle Unit Date Date Quantity Security Price Amount PURCHASES 06-11-24 06-12-24 70,000 Arrow Electronics, Inc. 99.08 69,353.12 5.875% Due 04-10-34 06-11-24 06-12-24 70,000 Avnet, Inc. 96.23 67,359.81 5.500% Due 06-01-32 06-25-24 06-26-24 100 Eaton Corporation 320.42 32,042.23 01-25-24 01-26-24 80,000 Federal Home Loan Bank 100.00 80,000.00 5.500% Due 01-26-26 01-25-24 01-26-24 60,000 Federal Home Loan Bank 100.02 60,014.94 6.000% Due 11-28-28 02-23-24 02-27-24 71,000 Polaris Inc. 105.92 75,200.36 6.950% Due 03-15-29 06-25-24 06-26-24 100 Quanta Services, Inc. 269.38 26,938.22 02-07-24 02-08-24 150,000.00 Schwab Govt Money Fund Investor 1.00 150,000.00 Shares 03-13-24 03-14-24 55,000.00 Schwab Govt Money Fund Investor 1.00 55,000.00 Shares 01-25-24 01-26-24 130,000 US Treasury Bill 97.68 126,978.09 0.000% Due 07-11-24 01-25-24 01-26-24 71,000 US Treasury Bill 99.46 70,620.15 4.250% Due 12-31-24 05-01-24 05-02-24 300,000 US Treasury Bill 97.39 292,159.72 0.000% Due 10-31-24 01-25-24 01-30-24 53,000 Wells Fargo Bank NT SD 100.00 53,000.00 4.800% Due 01-29-25 1,158,666.64 REINVESTED DIVIDENDS 01-16-24 01-16-24 741.20 Schwab Govt Money Fund Investor 1.00 741.20 Shares 02-15-24 02-15-24 1,648.58 Schwab Govt Money Fund Investor 1.00 1,648.58 Shares 03-15-24 03-15-24 1,902.43 Schwab Govt Money Fund Investor 1.00 1,902.43 Shares 04-15-24 04-15-24 1,687.38 Schwab Govt Money Fund Investor 1.00 1,687.38 Shares 05-15-24 05-15-24 1,554.47 Schwab Govt Money Fund Investor 1.00 1,554.47 Shares 06-17-24 06-17-24 1,623.05 Schwab Govt Money Fund Investor 1.00 1,623.05 Shares 9,157.11 1  PURCHASE AND SALE City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 From 01-01-24 To 06-30-24 Trade Settle Unit Date Date Quantity Security Price Amount SALES 03-27-24 04-01-24 1,368 Brown-Forman Corp. Cl B 51.64 70,639.30 05-08-24 05-08-24 1 FT Energy Income ETF 18.50 16.04 03-13-24 03-15-24 335 Fortrea Holdings, Inc. 38.76 12,983.80 02-23-24 02-26-24 100,000.00 Schwab Govt Money Fund Investor 1.00 100,000.00 Shares 03-14-24 03-15-24 25,000.00 Schwab Govt Money Fund Investor 1.00 25,000.00 Shares 04-03-24 04-04-24 45,000.00 Schwab Govt Money Fund Investor 1.00 45,000.00 Shares 04-16-24 04-17-24 22,000.00 Schwab Govt Money Fund Investor 1.00 22,000.00 Shares 06-10-24 06-11-24 95,000.00 Schwab Govt Money Fund Investor 1.00 95,000.00 Shares 06-25-24 06-26-24 30,000.00 Schwab Govt Money Fund Investor 1.00 30,000.00 Shares 06-25-24 06-26-24 250 Skyworks Solutions 107.08 26,771.15 01-25-24 01-25-24 400,000 US Treasury Bill 100.00 400,000.00 0.000% Due 01-25-24 01-31-24 01-31-24 150,000 US Treasury Note 100.00 150,000.00 2.500% Due 01-31-24 04-30-24 04-30-24 300,000 US Treasury Note 100.00 300,000.00 2.250% Due 04-30-24 1,277,410.29 2  REALIZED GAINS AND LOSSES City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 From 01-01-24 Through 06-30-24 Gain Or Loss Open Close Cost Amort. or Date Date Quantity Security Basis Accretion Proceeds Short Term Long Term 12-19-22 01-31-24 150,000 US Treasury Note 146,663.78 3,336.22 150,000.00 0.00 2.500% Due 01-31-24 02-23-24 100,000.00 Schwab Govt Money Fund 100,000.00 100,000.00 0.00* Investor Shares 03-19-15 03-13-24 335 Fortrea Holdings, Inc. 5,942.06 12,983.80 7,041.74 03-14-24 25,000.00 Schwab Govt Money Fund 25,000.00 25,000.00 0.00* Investor Shares 12-31-14 03-27-24 1,368 Brown-Forman Corp. Cl B 48,596.98 70,639.30 22,042.32 04-03-24 45,000.00 Schwab Govt Money Fund 45,000.00 45,000.00 0.00* Investor Shares 04-16-24 22,000.00 Schwab Govt Money Fund 22,000.00 22,000.00 0.00* Investor Shares 09-25-23 04-30-24 300,000 US Treasury Note 294,417.02 5,582.98 300,000.00 0.00 2.250% Due 04-30-24 03-19-15 05-08-24 1 FT Energy Income ETF 33.68 16.04 -17.64 06-10-24 95,000.00 Schwab Govt Money Fund 95,000.00 95,000.00 0.00* Investor Shares 06-25-24 30,000.00 Schwab Govt Money Fund 30,000.00 30,000.00 0.00* Investor Shares 06-24-20 06-25-24 250 Skyworks Solutions 31,535.10 26,771.15 -4,763.95 TOTAL GAINS 0.00 29,084.06 TOTAL LOSSES 0.00 -4,781.59 844,188.62 8,919.20 877,410.29 0.00 24,302.47 TOTAL REALIZED GAIN/LOSS 24,302.47 NO CAPITAL GAINS DISTRIBUTIONS An '*' denotes an average cost transaction.  PERFORMANCE SUMMARY GROSS OF FEES City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 June 30, 2024 PORTFOLIO COMPOSITION CHANGE IN PORTFOLIO Market Pct. Value Assets Yield Cash & Equivalents 6,345.95 0.1 0.4 Portfolio Value on 12-31-23 5,836,057.03 Money Market 253,686.48 4.3 5.0 Accrued Interest 11,733.02 Account Fixed 1,772,661.41 29.8 5.4 Net Additions/Withdrawals -174,089.04 Income Account Equities 3,919,311.26 65.8 1.8 Realized Gains -4,139.77 Account 0.00 0.0 - Unrealized Gains 210,734.52 Commodities Income Received 68,546.72 Change in Accrued Interest 3,162.63 Portfolio Value on 06-30-24 5,937,109.46 Accrued Interest 14,895.65 Total 5,952,005.11 100.0 3.0 5,952,005.11 TIME WEIGHTED RETURN Annualized Quarter Year Last 12 Inception To Date To Date Months To Date Account 0.47 4.81 11.00 6.37 40% Fixed Income/60% 2.84 9.22 16.17 8.48 Equity Blended Index Account Fixed Income 0.80 1.68 4.92 2.03 Barclays Capital Intermed 0.64 0.49 4.19 1.55 Govt/Credit Account Equities 0.23 6.47 14.22 9.13 S&P 500 4.28 15.29 24.56 12.86 All “Account” returns refer to your portfolio. Benchmark indexes are also listed for reference. All returns are reported as percentages. This report is calculated using industry-standard accounting and performance calculation methodologies and is generated by our Axys portfolio accounting software. Calculations are a time-weighted total return series based on monthly valuations, including all cash and equivalents. All calculations are done based on trade date, employing the accrual method of accounting and include cash, interest, dividends and realized and unrealized gains and losses. Performance is adjusted to accurately reflect portfolio deposits and withdrawals. Results are presented after transaction costs but before management fees. Inception-to-date returns are annualized numbers, except for accounts under management less than one year. Unsupervised assets are excluded in performance calculation. At any given point in time an investment may be worth more or less than the original purchase price.  July 10, 2024 City of Fayetteville Police Pension and Relief Fund Charles Schwab #2448-5630 113 West Mountain Fayetteville, AR 72701 STATEMENT OF MANAGEMENT FEES For The Period April 1 through June 30, 2024 Portfolio Value as of 03-31-24 6,054,926 Portfolio Value as of 04-30-24 5,752,650 Portfolio Value as of 05-31-24 5,840,740 Portfolio Value as of 06-30-24 5,952,005 Average of 4 Months 5,900,080 5,900,080 @ 0.5000% per annum 7,375 Quarterly Management Fee 7,375 TOTAL DUE AND PAYABLE 7,375 This statement is for informational purposes only. As you requested, the fee will be automatically deducted from your account. Please be advised that it is the responsibility of the client to verify the accuracy of each fee calculation. The custodian will not determine whether the fee is properly calculated.  Police Pension Fund Revenue Expense Summary 6/30/2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Revenues: Employee Contributions $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Employer Contributions $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - State Insurance Tax $ - $ 163,826.78 $ 155,047.43 $ 197,968.02 $ 196,514.94 $ 183,385.77 $ 186,152.09 $ 184,445.89 $ 163,140.57 $ 160,680.88 Local Millage (.4 mills) $ 392,511.15 $ 814,173.15 $ 751,097.07 $ 685,875.24 $ 643,110.44 $ 624,223.49 $ 587,536.68 $ 566,513.87 $ 551,507.74 $ 539,827.30 10% City Fines and Forfeitures $ 63,593.57 $ 103,277.68 $ 107,376.50 $ 92,641.86 $ 100,394.32 $ 146,297.69 $ 145,562.44 $ 164,626.55 $ 141,769.98 $ 124,486.54 Sale of Confiscated Goods $ 1,192.32 $ 2,930.95 $ 14,980.96 $ 7,921.85 $ 1,235.52 $ 5,288.85 $ 4,003.00 $ - $ 3,733.56 $ 4,068.81 Interest and Dividends $ 72,398.82 $ 139,845.75 $ 128,457.59 $ 139,645.15 $ 125,523.20 $ 136,459.26 $ 132,685.16 $ 131,204.03 $ 149,556.88 $ 175,768.80 Gain (Loss) on Sales $ 92,558.26 $ 60,125.51 $ 87,676.05 $ 222,745.73 $ 127,123.94 $ (83,178.67) $ 217,689.67 $ 200,446.71 $ (18,559.71) $ 122,582.56 Police Supplement $ 10,900.00 $ 30,700.00 $ 30,700.00 $ 30,700.00 $ 31,600.00 $ 31,500.00 $ 32,400.00 $ 33,300.00 $ 34,800.00 $ 35,100.00 Future Supplement $ - $ 81,594.15 $ 79,603.92 $ 77,662.20 $ 80,360.00 $ 78,400.00 $ 80,640.00 $ 72,520.00 $ 58,520.00 $ 43,290.00 Misc Revenue $ - $ - $ - $ - $ 310.29 $ - $ 3,432.14 $ 3,862.29 $ - $ 2.00 Total Revenue $ 633,154.12 $ 1,396,473.97 $ 1,354,939.52 $ 1,455,160.05 $ 1,306,172.65 $ 1,122,376.39 $ 1,390,101.18 $ 1,356,919.34 $ 1,084,469.02 $ 1,205,806.89 Expenditures Regular Monthly Benefits $ 665,158.36 $ 1,358,104.92 $ 1,358,304.92 $ 1,358,104.92 $ 1,395,168.88 $ 1,420,374.92 $ 1,443,274.40 $ 1,462,045.56 $ 1,471,260.21 $ 1,494,905.12 Police Supplement $ 9,800.00 $ 19,800.00 $ 19,800.00 $ 19,800.00 $ 20,700.00 $ 20,900.00 $ 21,600.00 $ 22,200.00 $ 22,750.00 $ 23,250.00 Future Supplement $ - $ 81,594.15 $ 79,603.92 $ 77,662.20 $ 78,064.00 $ 78,400.00 $ 80,640.00 $ 72,520.00 $ 58,520.00 $ 43,290.00 Investment Manager Fees $ 14,401.00 $ 27,429.00 $ 29,156.00 $ 29,856.00 $ 28,119.00 $ 28,924.00 $ 30,335.00 $ 29,859.75 $ 30,378.01 $ 33,743.02 Other Expenses: $ - $ - $ - $ - $ - $ - $ - $ - $ - Office Supplies/printing $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Audit Fees $ - $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 Professional Services $ - $ - $ - $ - $ - $ - $ - $ - $ 1,160.00 $ - Legal Fees $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Bank Fees $ 20.16 $ 32.10 $ 288.94 $ 404.50 $ 316.37 $ 232.09 $ 36.80 $ 25.29 $ 24.99 $ 43.39 Total Expenses $ 689,379.52 $ 1,490,460.17 $ 1,490,653.78 $ 1,489,327.62 $ 1,525,868.25 $ 1,552,331.01 $ 1,579,386.20 $ 1,590,150.60 $ 1,587,593.21 $ 1,598,731.53 Net Income (Loss) Before Market Adj *** $ (56,225.40) $ (93,986.20) $ (135,714.26) $ (34,167.57) $ (219,695.60) $ (429,954.62) $ (189,285.02) $ (233,231.26) $ (503,124.19) $ (392,924.64) Market Adjustment** $ - $ 484,445.91 $ (771,933.87) $ 379,075.96 $ 241,234.00 $ 934,853.76 $ (490,293.41) $ 512,708.24 $ 339,636.99 $ (491,233.44) Net Income (Loss) $ (56,225.40) $ 390,459.71 $ (907,648.13) $ 344,908.39 $ 21,538.40 $ 504,899.14 $ (679,578.43) $ 279,476.98 $ (163,487.20) $ (884,158.08) Book Value Total Reserve Assets * $ 4,423,742.46 $ 4,436,885.81 $ 4,503,800.67 $ 4,621,087.61 $ 4,663,684.22 $ 4,894,011.05 $ 5,317,033.82 $ 5,517,318.84 $ 5,740,891.38 $ 6,249,168.46 Market Value Total Reserve Assets * $ 5,937,109.46 $ 5,835,520.73 $ 5,434,371.02 $ 6,368,590.87 $ 6,003,980.03 $ 6,046,385.90 $ 5,588,421.78 $ 6,337,638.32 $ 5,928,508.61 $ 6,134,675.67 *Assets less any liabilities ** Market Value calculated at year end *** 10/17/2024 K:\Police Pension\Revenue & Expense Summary\2024 PP Revenue Expense Summary\Police Pension Summary 06.30.24  Police Pension Fund Revenue Expense Summary 9/30/2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 Revenues: Employee Contributions $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Employer Contributions $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - State Insurance Tax $ 222,217.93 $ 163,826.78 $ 155,047.43 $ 197,968.02 $ 196,514.94 $ 183,385.77 $ 186,152.09 $ 184,445.89 $ 163,140.57 $ 160,680.88 Local Millage (.4 mills) $ 543,454.36 $ 814,173.15 $ 751,097.07 $ 685,875.24 $ 643,110.44 $ 624,223.49 $ 587,536.68 $ 566,513.87 $ 551,507.74 $ 539,827.30 10% City Fines and Forfeitures $ 83,686.28 $ 103,277.68 $ 107,376.50 $ 92,641.86 $ 100,394.32 $ 146,297.69 $ 145,562.44 $ 164,626.55 $ 141,769.98 $ 124,486.54 Sale of Confiscated Goods $ 11,774.36 $ 2,930.95 $ 14,980.96 $ 7,921.85 $ 1,235.52 $ 5,288.85 $ 4,003.00 $ - $ 3,733.56 $ 4,068.81 Interest and Dividends $ 107,671.29 $ 139,845.75 $ 128,457.59 $ 139,645.15 $ 125,523.20 $ 136,459.26 $ 132,685.16 $ 131,204.03 $ 149,556.88 $ 175,768.80 Gain (Loss) on Sales $ 95,617.65 $ 60,125.51 $ 87,676.05 $ 222,745.73 $ 127,123.94 $ (83,178.67) $ 217,689.67 $ 200,446.71 $ (18,559.71) $ 122,582.56 Police Supplement $ 30,700.00 $ 30,700.00 $ 30,700.00 $ 30,700.00 $ 31,600.00 $ 31,500.00 $ 32,400.00 $ 33,300.00 $ 34,800.00 $ 35,100.00 Future Supplement $ 83,633.88 $ 81,594.15 $ 79,603.92 $ 77,662.20 $ 80,360.00 $ 78,400.00 $ 80,640.00 $ 72,520.00 $ 58,520.00 $ 43,290.00 Misc Revenue $ - $ - $ - $ - $ 310.29 $ - $ 3,432.14 $ 3,862.29 $ - $ 2.00 Total Revenue $ 1,178,755.75 $ 1,396,473.97 $ 1,354,939.52 $ 1,455,160.05 $ 1,306,172.65 $ 1,122,376.39 $ 1,390,101.18 $ 1,356,919.34 $ 1,084,469.02 $ 1,205,806.89 Expenditures Regular Monthly Benefits $ 980,334.56 $ 1,358,104.92 $ 1,358,304.92 $ 1,358,104.92 $ 1,395,168.88 $ 1,420,374.92 $ 1,443,274.40 $ 1,462,045.56 $ 1,471,260.21 $ 1,494,905.12 Police Supplement $ 14,500.00 $ 19,800.00 $ 19,800.00 $ 19,800.00 $ 20,700.00 $ 20,900.00 $ 21,600.00 $ 22,200.00 $ 22,750.00 $ 23,250.00 Future Supplement $ 81,099.52 $ 81,594.15 $ 79,603.92 $ 77,662.20 $ 78,064.00 $ 78,400.00 $ 80,640.00 $ 72,520.00 $ 58,520.00 $ 43,290.00 Investment Manager Fees $ 21,776.00 $ 27,429.00 $ 29,156.00 $ 29,856.00 $ 28,119.00 $ 28,924.00 $ 30,335.00 $ 29,859.75 $ 30,378.01 $ 33,743.02 Other Expenses: $ - $ - $ - $ - $ - $ - $ - $ - $ - Office Supplies/printing $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Audit Fees $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 $ 3,500.00 Professional Services $ - $ - $ - $ - $ - $ - $ - $ - $ 1,160.00 $ - Legal Fees $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Bank Fees $ 20.16 $ 32.10 $ 288.94 $ 404.50 $ 316.37 $ 232.09 $ 36.80 $ 25.29 $ 24.99 $ 43.39 Total Expenses $ 1,101,230.24 $ 1,490,460.17 $ 1,490,653.78 $ 1,489,327.62 $ 1,525,868.25 $ 1,552,331.01 $ 1,579,386.20 $ 1,590,150.60 $ 1,587,593.21 $ 1,598,731.53 Net Income (Loss) Before Market Adj *** $ 77,525.51 $ (93,986.20) $ (135,714.26) $ (34,167.57) $ (219,695.60) $ (429,954.62) $ (189,285.02) $ (233,231.26) $ (503,124.19) $ (392,924.64) Market Adjustment** $ - $ 484,445.91 $ (771,933.87) $ 379,075.96 $ 241,234.00 $ 934,853.76 $ (490,293.41) $ 512,708.24 $ 339,636.99 $ (491,233.44) Net Income (Loss) $ 77,525.51 $ 390,459.71 $ (907,648.13) $ 344,908.39 $ 21,538.40 $ 504,899.14 $ (679,578.43) $ 279,476.98 $ (163,487.20) $ (884,158.08) Book Value Total Reserve Assets * $ 4,583,973.80 $ 4,436,885.81 $ 4,503,800.67 $ 4,621,087.61 $ 4,663,684.22 $ 4,894,011.05 $ 5,317,033.82 $ 5,517,318.84 $ 5,740,891.38 $ 6,249,168.46 Market Value Total Reserve Assets * $ 6,043,668.71 $ 5,835,520.73 $ 5,434,371.02 $ 6,368,590.87 $ 6,003,980.03 $ 6,046,385.90 $ 5,588,421.78 $ 6,337,638.32 $ 5,928,508.61 $ 6,134,675.67 *Assets less any liabilities ** Market Value calculated at year end *** 10/17/2024 K:\Police Pension\Revenue & Expense Summary\2024 PP Revenue Expense Summary\Police Pension Summary 09.30.24  Policemen’s Pension and Relief Fund Board of Trustees Minutes April 18, 2024 Page 1 of 4 Lioneld Jordan Chairman Ruston Cole Retired Position 2 Kara Paxton Treasurer John Brown Retired Position 3 Eldon Roberts Secretary Melvin Stanley Retired Position 4 Retired Position 1 Frank Johnson Retired Position 5 Policemen’s Pension and Relief Fund Board of Trustees Meeting Minutes April 18, 2024 A meeting of the Fayetteville Policemen’s Pension and Relief Fund Board of Trustees was held on April 18, 2024, at 3:00 p.m. in Room 326 of the City Administration Building located at 113 West Mountain Street, Fayetteville, Arkansas. Mayor Lioneld Jordan called the meeting to order. Board Members Present: Board Members Ruston Cole, Eldon Roberts, Melvin Stanley, Mayor Lioneld Jordan, and City Clerk Treasurer Kara Paxton. Staff and Others Present: City Attorney Kit Williams, Chief Financial Officer Paul Becker, and Senior Deputy City Clerk Treasurer Jackson Shelton. In addition, Kerry Watkins Bradley with Garrison Financial was also present. Absent: Board Member Frank Johnson & John Brown Garrison Financial: Quarterly Reports ending December 31, 2023, and March 31, 2024 Kerry Watkins-Bradley Garrison Financial Representative explained that markets at the end of 2023 were strong and reviewed the information in the 4th Quarter Report with the Trustees. She went on to explain that the portfolio is a little overweight in equities and on the fixed income side, with a lot of short-term fixed income. Board Member Eldon Roberts wanted to know what the investment guidelines were regarding equities. Kerry explained that there was a 20% variance within the policy, However, Garrison Financial always strived to keep equities within a 5% variance. She further explained that the breakdown of investments is 60% equity and 40% fixed income. Kerry went into more depth for the 4th Quarter of 2023 and 1st Quarter of 2024. She explained the fluctuation in rates over the year. She finalized her comments by saying the account was up 13%, in September the balance was at $5.449 Million and in March 2024 $6.044 Million. Kerry explained she talked with James Bell and they agreed the portfolio needed to have more fixed income investments.  Policemen’s Pension and Relief Fund Board of Trustees Minutes April 18, 2024 Page 2 of 4 Board Member Eldon Roberts thanked Kerry for all the hard work she and her teammates at Garrison Financial had done for the pension relief fund. Minutes: Approval of the October 19, 2023, meeting minutes Eldon Roberts moved to approve the October 19, 2023, meeting minutes. Melvin Stanley seconded the motion. The motion passed 5-0. Ruston Cole, Eldon Roberts, Melvin Stanley, City Clerk Kara Paxton and Mayor Jordan voted yes. Frank Johnson and John Brown were absent. Pension List Changes: Vicky Watson Bloss – Passed away on April 7th, 2024 City Clerk Treasurer Kara Paxton explained that due to the date Ms. Bloss Watson passed, no revised pension list would be created. Board Member Eldon Roberts asked to verify that Ms. Bloss Watson did receive a payment in the month of April. City Clerk Treasurer Kara Paxton explained that Ms. Bloss Watson did receive a payment in April. Board Member Eldon Roberts explained that to avoid financial issues, the Board Members agreed to a policy that if a pensioner passes away before the end of the month, the pensioner is still due the pension payment for that month. Approval of the Pension List: Approval of the May 2024 – October 2024 Pension Lists Board Member Eldon Roberts asked for verification that no changes had happened regarding the pension lists. City Clerk Treasurer Kara Paxton explained no revisions or changes had occurred. Ruston Cole moved to approve the May – October 2023 Pension Lists. Eldon Roberts seconded the motion. The motion passed 5-0. Ruston Cole, Eldon Roberts, Melvin Stanley, City Clerk Kara Paxton and Mayor Jordan voted yes. Frank Johnson and John Brown were absent.  Policemen’s Pension and Relief Fund Board of Trustees Minutes April 18, 2024 Page 3 of 4 Unfinished Business: None New Business: LOPFI – Is the Board interested in Consolidating During the brief discussion regarding the topic of consolidating, none of the pensioners on the Board of Trustees were interested in consolidating. Paul Becker, Chief Financial Officer encouraged the pensioners to read the letter within the packet from LOPFI. Increase in Monthly Pension Payments After all the informational items had been heard, Board Member Eldon Roberts brought up the fact that the pensioners had not received an increase in benefits in over 20 years. A brief conversation happened between Board Member Eldon Roberts, City Attorney Kit Williams, Chief Financial Officer Paul Becker and City Clerk Treasurer Kara Paxton. Ultimately, the consensus was that Kara Paxton would reach out to the Public Retirement Board in Little Rock, Arkansas and discuss the possibility of a raise. Should she find out that the pensioners could potentially receive a raise, she was authorized to request an actuary study with a cost up to $5000.00. Melvin Stanley moved to authorize City Clerk Treasurer Kara Paxton to contact PRB about the pensioners receiving a raise and request an actuary study up to the amount of $5000 if PRB stated the pensioners could possibly receive a raise. Eldon Roberts seconded the motion. The motion passed 5-0. Ruston Cole, Eldon Roberts, Melvin Stanley, City Clerk Kara Paxton and Mayor Jordan voted yes. Frank Johnson and John Brown were absent. Informational: Revenue Expense Summary Reports for December 31, 2023, and March 31, 2024. City Clerk Treasurer Kara Paxton explained that the reports were in the packet. She went on to explain that due to the time the City received the information from Garrison Financial it is extremely difficult to have the Revenue Expense Summary Report completed for the most recent quarter since the board meets 3 weeks after the end of the quarter. Board Member Eldon Roberts explained he understood the circumstance and added that if we can get the report as close to the most recent quarter as we could, he was ok with that.  Policemen’s Pension and Relief Fund Board of Trustees Minutes April 18, 2024 Page 4 of 4 Upcoming Elections – Ballots will be mailed at the end of April 2024 City Clerk Kara Paxton announced that ballots would be mailed at the end of April to select the person(s) to serve on the Board of Trustees. 2024 Meeting Calendar • Next Meeting – October 17th, 2024 Note: All meetings are tentative and subject to change. The city meetings calendar is located at www.fayetteville-ar.gov . Adjourn: 3:31 p.m. POLICE PENSION FUND Nov 6800-9800 6800-9800 Month 11 Regular Mo 5335-00 5335-05 11 NAME Benefit YTD Reg Benefit Suppl. YTD Suppl. Future Hours Code Supplement for Fut Supp BAYLES, BOBBI J $ 1,587.41 $ 17,461.51 $ 50.00 $ 550.00 99820 BLACK, MILDRED $ 1,125.64 $ 12,382.04 $ 50.00 $ 550.00 99820 BRADLEY, GERALD $ 4,820.09 $ 53,020.99 $ 50.00 $ 550.00 99820 BRADLEY, RANDALL $ 2,860.17 $ 31,461.87 $ 50.00 $ 550.00 99820 BROWN, JOHN $ 4,362.01 $ 47,982.11 $ 50.00 $ 550.00 99820 CARROLL,RONALD L $ 2,106.04 $ 23,166.44 $ 50.00 $ 550.00 99820 COLE, RUSTON $ 3,065.74 $ 33,723.14 $ 50.00 $ 550.00 99820 DUGGER,GARY $ 3,163.74 $ 34,801.14 $ 50.00 $ 550.00 99820 FOSTER, MARTHA $ 3,207.35 $ 35,280.85 $ 50.00 $ 550.00 99820 FRIEND, JERRY $ 1,970.42 $ 21,674.62 $ 50.00 $ 550.00 99820 HANNA, JANICE $ 1,368.59 $ 15,054.49 $ - $ - HANNA, MARK $ 1,368.59 $ 15,054.49 $ 50.00 $ 550.00 99820 HELDER, TIM $ 5,838.12 $ 64,219.32 $ 50.00 $ 550.00 99820 HOYT, RICK $ 7,460.01 $ 82,060.11 $ 50.00 $ 550.00 99820 HOYT, RICK Plus 25 add pay $ 272.01 $ 2,992.11 JOHNSON, FRANK $ 7,974.81 $ 87,722.91 $ 50.00 $ 550.00 99820 JOHNSON, JOYCE $ 2,455.50 $ 27,010.50 $ 50.00 $ 550.00 99820 NORMA K. JONES $ 3,300.45 $ 36,304.95 $ 50.00 $ 550.00 99820 JONES, MICHELE $ 1,182.26 $ 13,004.86 KILGORE, DONALD $ 2,046.48 $ 22,511.28 $ 50.00 $ 550.00 99820 MARTIN, CONNIE $ 3,692.85 $ 40,621.35 $ 50.00 $ 550.00 99820 MCCAWLEY, LARRY $ 1,694.79 $ 18,642.69 $ 50.00 $ 550.00 99820 MITCHELL, MICHAEL $ 2,305.29 $ 25,358.19 $ 50.00 $ 550.00 99820 MUNSON,ANGELA $ 4,198.15 $ 46,179.65 $ 50.00 $ 550.00 99820 MURPHY, MARGARET $ 405.75 $ 4,463.25 $ 50.00 $ 550.00 99820 PERDUE, LARRY $ 2,322.67 $ 25,549.37 $ 50.00 $ 550.00 99820 PERSHALL, ROBIN $ 1,525.07 $ 16,775.77 $ - $ - PHILLIPS, LINDA SUE deceased 7/27/24 $ - $ 12,281.08 $ - $ 350.00 99820 PRESTON, NORMA J $ 1,601.37 $ 17,615.07 $ 50.00 $ 550.00 99820 RICKMAN, LOREN $ 2,231.07 $ 24,541.77 $ 50.00 $ 550.00 99820 RIGGINS, BONNIE $ 1,669.37 $ 18,363.07 $ 50.00 $ 550.00 99820 ROBERTS, ELDON $ 4,263.24 $ 46,895.64 $ 50.00 $ 550.00 99820 ROBERTS, ELDON Plus 25 add pay $ 587.09 $ 6,457.99 $ - $ - ROBERTS, CAROLYN K $ 3,216.13 $ 35,377.43 $ - ROBERTS, CAROLYN K Plus 25 add pay $ 442.89 $ 4,871.79 $ - SCHUSTER,JOHN H. $ 1,558.68 $ 17,145.48 $ 50.00 $ 550.00 99820 SCHUSTER, NANCY R. $ 1,558.68 $ 17,145.48 $ - $ - STANLEY, MELVIN $ 4,880.07 $ 53,680.77 $ 50.00 $ 550.00 99820 SURLES, VELMA $ 2,721.40 $ 29,935.40 $ 50.00 $ 550.00 TAYLOR, DENNIS $ 2,063.93 $ 22,703.23 $ 50.00 $ 550.00 99820 BLOSS-WATSON, VICKY deceased 4/8/24 $ - $ 27,788.20 $ - $ 200.00 99820 $ 104,473.92 $ 1,189,282.40 $ 1,550.00 $ 17,600.00 $ - POLICE PENSION FUND Dec 6800-9800 6800-9800 Month 12 Regular Mo 5335-00 5335-05 12 NAME Benefit YTD Reg Benefit Suppl. YTD Suppl. Future Hours Code Supplement for Fut Supp BAYLES, BOBBI J $ 1,587.41 $ 19,048.92 $ 50.00 $ 600.00 99820 BLACK, MILDRED $ 1,125.64 $ 13,507.68 $ 50.00 $ 600.00 99820 BRADLEY, GERALD $ 4,820.09 $ 57,841.08 $ 50.00 $ 600.00 99820 BRADLEY, RANDALL $ 2,860.17 $ 34,322.04 $ 50.00 $ 600.00 99820 BROWN, JOHN $ 4,362.01 $ 52,344.12 $ 50.00 $ 600.00 99820 CARROLL,RONALD L $ 2,106.04 $ 25,272.48 $ 50.00 $ 600.00 99820 COLE, RUSTON $ 3,065.74 $ 36,788.88 $ 50.00 $ 600.00 99820 DUGGER,GARY $ 3,163.74 $ 37,964.88 $ 50.00 $ 600.00 99820 FOSTER, MARTHA $ 3,207.35 $ 38,488.20 $ 50.00 $ 600.00 99820 FRIEND, JERRY $ 1,970.42 $ 23,645.04 $ 50.00 $ 600.00 99820 HANNA, JANICE $ 1,368.59 $ 16,423.08 $ - $ - HANNA, MARK $ 1,368.59 $ 16,423.08 $ 50.00 $ 600.00 99820 HELDER, TIM $ 5,838.12 $ 70,057.44 $ 50.00 $ 600.00 99820 HOYT, RICK $ 7,460.01 $ 89,520.12 $ 50.00 $ 600.00 99820 HOYT, RICK Plus 25 add pay $ 272.01 $ 3,264.12 JOHNSON, FRANK $ 7,974.81 $ 95,697.72 $ 50.00 $ 600.00 99820 JOHNSON, JOYCE $ 2,455.50 $ 29,466.00 $ 50.00 $ 600.00 99820 NORMA K. JONES $ 3,300.45 $ 39,605.40 $ 50.00 $ 600.00 99820 JONES, MICHELE $ 1,182.26 $ 14,187.12 KILGORE, DONALD $ 2,046.48 $ 24,557.76 $ 50.00 $ 600.00 99820 MARTIN, CONNIE $ 3,692.85 $ 44,314.20 $ 50.00 $ 600.00 99820 MCCAWLEY, LARRY $ 1,694.79 $ 20,337.48 $ 50.00 $ 600.00 99820 MITCHELL, MICHAEL $ 2,305.29 $ 27,663.48 $ 50.00 $ 600.00 99820 MUNSON,ANGELA $ 4,198.15 $ 50,377.80 $ 50.00 $ 600.00 99820 MURPHY, MARGARET $ 405.75 $ 4,869.00 $ 50.00 $ 600.00 99820 PERDUE, LARRY $ 2,322.67 $ 27,872.04 $ 50.00 $ 600.00 99820 PERSHALL, ROBIN $ 1,525.07 $ 18,300.84 $ - $ - PHILLIPS, LINDA SUE deceased 7/27/24 $ - $ 12,281.08 $ - $ 350.00 99820 PRESTON, NORMA J $ 1,601.37 $ 19,216.44 $ 50.00 $ 600.00 99820 RICKMAN, LOREN $ 2,231.07 $ 26,772.84 $ 50.00 $ 600.00 99820 RIGGINS, BONNIE $ 1,669.37 $ 20,032.44 $ 50.00 $ 600.00 99820 ROBERTS, ELDON $ 4,263.24 $ 51,158.88 $ 50.00 $ 600.00 99820 ROBERTS, ELDON Plus 25 add pay $ 587.09 $ 7,045.08 $ - $ - ROBERTS, CAROLYN K $ 3,216.13 $ 38,593.56 $ - ROBERTS, CAROLYN K Plus 25 add pay $ 442.89 $ 5,314.68 $ - SCHUSTER,JOHN H. $ 1,558.68 $ 18,704.16 $ 50.00 $ 600.00 99820 SCHUSTER, NANCY R. $ 1,558.68 $ 18,704.16 $ - $ - STANLEY, MELVIN $ 4,880.07 $ 58,560.84 $ 50.00 $ 600.00 99820 SURLES, VELMA $ 2,721.40 $ 32,656.80 $ 50.00 $ 600.00 TAYLOR, DENNIS $ 2,063.93 $ 24,767.16 $ 50.00 $ 600.00 99820 BLOSS-WATSON, VICKY deceased 4/8/24 $ - $ 27,788.20 $ - $ 200.00 99820 $ 104,473.92 $ 1,293,756.32 $ 1,550.00 $ 19,150.00 $ - POLICE PENSION FUND Jan 6800-9800 6800-9800 Month 1 Regular Mo 5335-00 5335-05 1 NAME Benefit YTD Reg Benefit Suppl. YTD Suppl. Future Hours Code Supplement for Fut Supp BAYLES, BOBBI J $ 1,587.41 $ 1,587.41 $ 50.00 $ 50.00 99820 BLACK, MILDRED $ 1,125.64 $ 1,125.64 $ 50.00 $ 50.00 99820 BRADLEY, GERALD $ 4,820.09 $ 4,820.09 $ 50.00 $ 50.00 99820 BRADLEY, RANDALL $ 2,860.17 $ 2,860.17 $ 50.00 $ 50.00 99820 BROWN, JOHN $ 4,362.01 $ 4,362.01 $ 50.00 $ 50.00 99820 CARROLL,RONALD L $ 2,106.04 $ 2,106.04 $ 50.00 $ 50.00 99820 COLE, RUSTON $ 3,065.74 $ 3,065.74 $ 50.00 $ 50.00 99820 DUGGER,GARY $ 3,163.74 $ 3,163.74 $ 50.00 $ 50.00 99820 FOSTER, MARTHA $ 3,207.35 $ 3,207.35 $ 50.00 $ 50.00 99820 FRIEND, JERRY $ 1,970.42 $ 1,970.42 $ 50.00 $ 50.00 99820 HANNA, JANICE $ 1,368.59 $ 1,368.59 $ - $ - HANNA, MARK $ 1,368.59 $ 1,368.59 $ 50.00 $ 50.00 99820 HELDER, TIM $ 5,838.12 $ 5,838.12 $ 50.00 $ 50.00 99820 HOYT, RICK $ 7,460.01 $ 7,460.01 $ 50.00 $ 50.00 99820 HOYT, RICK Plus 25 add pay $ 272.01 $ 272.01 JOHNSON, FRANK $ 7,974.81 $ 7,974.81 $ 50.00 $ 50.00 99820 JOHNSON, JOYCE $ 2,455.50 $ 2,455.50 $ 50.00 $ 50.00 99820 NORMA K. JONES $ 3,300.45 $ 3,300.45 $ 50.00 $ 50.00 99820 JONES, MICHELE $ 1,182.26 $ 1,182.26 KILGORE, DONALD $ 2,046.48 $ 2,046.48 $ 50.00 $ 50.00 99820 MARTIN, CONNIE $ 3,692.85 $ 3,692.85 $ 50.00 $ 50.00 99820 MCCAWLEY, LARRY $ 1,694.79 $ 1,694.79 $ 50.00 $ 50.00 99820 MITCHELL, MICHAEL $ 2,305.29 $ 2,305.29 $ 50.00 $ 50.00 99820 MUNSON,ANGELA $ 4,198.15 $ 4,198.15 $ 50.00 $ 50.00 99820 MURPHY, MARGARET $ 405.75 $ 405.75 $ 50.00 $ 50.00 99820 PERDUE, LARRY $ 2,322.67 $ 2,322.67 $ 50.00 $ 50.00 99820 PERSHALL, ROBIN $ 1,525.07 $ 1,525.07 $ - $ - PRESTON, NORMA J $ 1,601.37 $ 1,601.37 $ 50.00 $ 50.00 99820 RICKMAN, LOREN $ 2,231.07 $ 2,231.07 $ 50.00 $ 50.00 99820 RIGGINS, BONNIE $ 1,669.37 $ 1,669.37 $ 50.00 $ 50.00 99820 ROBERTS, ELDON $ 4,263.24 $ 4,263.24 $ 50.00 $ 50.00 99820 ROBERTS, ELDON Plus 25 add pay $ 587.09 $ 587.09 $ - $ - ROBERTS, CAROLYN K $ 3,216.13 $ 3,216.13 $ - ROBERTS, CAROLYN K Plus 25 add pay $ 442.89 $ 442.89 $ - SCHUSTER,JOHN H. $ 1,558.68 $ 1,558.68 $ 50.00 $ 50.00 99820 SCHUSTER, NANCY R. $ 1,558.68 $ 1,558.68 $ - $ - STANLEY, MELVIN $ 4,880.07 $ 4,880.07 $ 50.00 $ 50.00 99820 SURLES, VELMA $ 2,721.40 $ 2,721.40 $ 50.00 $ 50.00 TAYLOR, DENNIS $ 2,063.93 $ 2,063.93 $ 50.00 $ 50.00 99820 $ 104,473.92 $ 104,473.92 $ 1,550.00 $ 1,550.00 $ - POLICE PENSION FUND Feb 6800-9800 6800-9800 Month 2 Regular Mo 5335-00 5335-05 2 NAME Benefit YTD Reg Benefit Suppl. YTD Suppl. Future Hours Code Supplement for Fut Supp BAYLES, BOBBI J $ 1,587.41 $ 3,174.82 $ 50.00 $ 100.00 99820 BLACK, MILDRED $ 1,125.64 $ 2,251.28 $ 50.00 $ 100.00 99820 BRADLEY, GERALD $ 4,820.09 $ 9,640.18 $ 50.00 $ 100.00 99820 BRADLEY, RANDALL $ 2,860.17 $ 5,720.34 $ 50.00 $ 100.00 99820 BROWN, JOHN $ 4,362.01 $ 8,724.02 $ 50.00 $ 100.00 99820 CARROLL,RONALD L $ 2,106.04 $ 4,212.08 $ 50.00 $ 100.00 99820 COLE, RUSTON $ 3,065.74 $ 6,131.48 $ 50.00 $ 100.00 99820 DUGGER,GARY $ 3,163.74 $ 6,327.48 $ 50.00 $ 100.00 99820 FOSTER, MARTHA $ 3,207.35 $ 6,414.70 $ 50.00 $ 100.00 99820 FRIEND, JERRY $ 1,970.42 $ 3,940.84 $ 50.00 $ 100.00 99820 HANNA, JANICE $ 1,368.59 $ 2,737.18 $ - $ - HANNA, MARK $ 1,368.59 $ 2,737.18 $ 50.00 $ 100.00 99820 HELDER, TIM $ 5,838.12 $ 11,676.24 $ 50.00 $ 100.00 99820 HOYT, RICK $ 7,460.01 $ 14,920.02 $ 50.00 $ 100.00 99820 HOYT, RICK Plus 25 add pay $ 272.01 $ 544.02 JOHNSON, FRANK $ 7,974.81 $ 15,949.62 $ 50.00 $ 100.00 99820 JOHNSON, JOYCE $ 2,455.50 $ 4,911.00 $ 50.00 $ 100.00 99820 NORMA K. JONES $ 3,300.45 $ 6,600.90 $ 50.00 $ 100.00 99820 JONES, MICHELE $ 1,182.26 $ 2,364.52 KILGORE, DONALD $ 2,046.48 $ 4,092.96 $ 50.00 $ 100.00 99820 MARTIN, CONNIE $ 3,692.85 $ 7,385.70 $ 50.00 $ 100.00 99820 MCCAWLEY, LARRY $ 1,694.79 $ 3,389.58 $ 50.00 $ 100.00 99820 MITCHELL, MICHAEL $ 2,305.29 $ 4,610.58 $ 50.00 $ 100.00 99820 MUNSON,ANGELA $ 4,198.15 $ 8,396.30 $ 50.00 $ 100.00 99820 MURPHY, MARGARET $ 405.75 $ 811.50 $ 50.00 $ 100.00 99820 PERDUE, LARRY $ 2,322.67 $ 4,645.34 $ 50.00 $ 100.00 99820 PERSHALL, ROBIN $ 1,525.07 $ 3,050.14 $ - $ - PRESTON, NORMA J $ 1,601.37 $ 3,202.74 $ 50.00 $ 100.00 99820 RICKMAN, LOREN $ 2,231.07 $ 4,462.14 $ 50.00 $ 100.00 99820 RIGGINS, BONNIE $ 1,669.37 $ 3,338.74 $ 50.00 $ 100.00 99820 ROBERTS, ELDON $ 4,263.24 $ 8,526.48 $ 50.00 $ 100.00 99820 ROBERTS, ELDON Plus 25 add pay $ 587.09 $ 1,174.18 $ - $ - ROBERTS, CAROLYN K $ 3,216.13 $ 6,432.26 $ - ROBERTS, CAROLYN K Plus 25 add pay $ 442.89 $ 885.78 $ - SCHUSTER,JOHN H. $ 1,558.68 $ 3,117.36 $ 50.00 $ 100.00 99820 SCHUSTER, NANCY R. $ 1,558.68 $ 3,117.36 $ - $ - STANLEY, MELVIN $ 4,880.07 $ 9,760.14 $ 50.00 $ 100.00 99820 SURLES, VELMA $ 2,721.40 $ 5,442.80 $ 50.00 $ 100.00 TAYLOR, DENNIS $ 2,063.93 $ 4,127.86 $ 50.00 $ 100.00 99820 $ 104,473.92 $ 208,947.84 $ 1,550.00 $ 3,100.00 $ - POLICE PENSION FUND Mar 6800-9800 6800-9800 Month 3 Regular Mo 5335-00 5335-05 3 NAME Benefit YTD Reg Benefit Suppl. YTD Suppl. Future Hours Code Supplement for Fut Supp BAYLES, BOBBI J $ 1,587.41 $ 4,762.23 $ 50.00 $ 150.00 99820 BLACK, MILDRED $ 1,125.64 $ 3,376.92 $ 50.00 $ 150.00 99820 BRADLEY, GERALD $ 4,820.09 $ 14,460.27 $ 50.00 $ 150.00 99820 BRADLEY, RANDALL $ 2,860.17 $ 8,580.51 $ 50.00 $ 150.00 99820 BROWN, JOHN $ 4,362.01 $ 13,086.03 $ 50.00 $ 150.00 99820 CARROLL,RONALD L $ 2,106.04 $ 6,318.12 $ 50.00 $ 150.00 99820 COLE, RUSTON $ 3,065.74 $ 9,197.22 $ 50.00 $ 150.00 99820 DUGGER,GARY $ 3,163.74 $ 9,491.22 $ 50.00 $ 150.00 99820 FOSTER, MARTHA $ 3,207.35 $ 9,622.05 $ 50.00 $ 150.00 99820 FRIEND, JERRY $ 1,970.42 $ 5,911.26 $ 50.00 $ 150.00 99820 HANNA, JANICE $ 1,368.59 $ 4,105.77 $ - $ - HANNA, MARK $ 1,368.59 $ 4,105.77 $ 50.00 $ 150.00 99820 HELDER, TIM $ 5,838.12 $ 17,514.36 $ 50.00 $ 150.00 99820 HOYT, RICK $ 7,460.01 $ 22,380.03 $ 50.00 $ 150.00 99820 HOYT, RICK Plus 25 add pay $ 272.01 $ 816.03 JOHNSON, FRANK $ 7,974.81 $ 23,924.43 $ 50.00 $ 150.00 99820 JOHNSON, JOYCE $ 2,455.50 $ 7,366.50 $ 50.00 $ 150.00 99820 NORMA K. JONES $ 3,300.45 $ 9,901.35 $ 50.00 $ 150.00 99820 JONES, MICHELE $ 1,182.26 $ 3,546.78 KILGORE, DONALD $ 2,046.48 $ 6,139.44 $ 50.00 $ 150.00 99820 MARTIN, CONNIE $ 3,692.85 $ 11,078.55 $ 50.00 $ 150.00 99820 MCCAWLEY, LARRY $ 1,694.79 $ 5,084.37 $ 50.00 $ 150.00 99820 MITCHELL, MICHAEL $ 2,305.29 $ 6,915.87 $ 50.00 $ 150.00 99820 MUNSON,ANGELA $ 4,198.15 $ 12,594.45 $ 50.00 $ 150.00 99820 MURPHY, MARGARET $ 405.75 $ 1,217.25 $ 50.00 $ 150.00 99820 PERDUE, LARRY $ 2,322.67 $ 6,968.01 $ 50.00 $ 150.00 99820 PERSHALL, ROBIN $ 1,525.07 $ 4,575.21 $ - $ - PRESTON, NORMA J $ 1,601.37 $ 4,804.11 $ 50.00 $ 150.00 99820 RICKMAN, LOREN $ 2,231.07 $ 6,693.21 $ 50.00 $ 150.00 99820 RIGGINS, BONNIE $ 1,669.37 $ 5,008.11 $ 50.00 $ 150.00 99820 ROBERTS, ELDON $ 4,263.24 $ 12,789.72 $ 50.00 $ 150.00 99820 ROBERTS, ELDON Plus 25 add pay $ 587.09 $ 1,761.27 $ - $ - ROBERTS, CAROLYN K $ 3,216.13 $ 9,648.39 $ - ROBERTS, CAROLYN K Plus 25 add pay $ 442.89 $ 1,328.67 $ - SCHUSTER,JOHN H. $ 1,558.68 $ 4,676.04 $ 50.00 $ 150.00 99820 SCHUSTER, NANCY R. $ 1,558.68 $ 4,676.04 $ - $ - STANLEY, MELVIN $ 4,880.07 $ 14,640.21 $ 50.00 $ 150.00 99820 SURLES, VELMA $ 2,721.40 $ 8,164.20 $ 50.00 $ 150.00 TAYLOR, DENNIS $ 2,063.93 $ 6,191.79 $ 50.00 $ 150.00 99820 $ 104,473.92 $ 313,421.76 $ 1,550.00 $ 4,650.00 $ - POLICE PENSION FUND Apr 6800-9800 6800-9800 Month 4 Regular Mo 5335-00 5335-05 4 NAME Benefit YTD Reg Benefit Suppl. YTD Suppl. Future Hours Code Supplement for Fut Supp BAYLES, BOBBI J $ 1,587.41 $ 6,349.64 $ 50.00 $ 200.00 99820 BLACK, MILDRED $ 1,125.64 $ 4,502.56 $ 50.00 $ 200.00 99820 BRADLEY, GERALD $ 4,820.09 $ 19,280.36 $ 50.00 $ 200.00 99820 BRADLEY, RANDALL $ 2,860.17 $ 11,440.68 $ 50.00 $ 200.00 99820 BROWN, JOHN $ 4,362.01 $ 17,448.04 $ 50.00 $ 200.00 99820 CARROLL,RONALD L $ 2,106.04 $ 8,424.16 $ 50.00 $ 200.00 99820 COLE, RUSTON $ 3,065.74 $ 12,262.96 $ 50.00 $ 200.00 99820 DUGGER,GARY $ 3,163.74 $ 12,654.96 $ 50.00 $ 200.00 99820 FOSTER, MARTHA $ 3,207.35 $ 12,829.40 $ 50.00 $ 200.00 99820 FRIEND, JERRY $ 1,970.42 $ 7,881.68 $ 50.00 $ 200.00 99820 HANNA, JANICE $ 1,368.59 $ 5,474.36 $ - $ - HANNA, MARK $ 1,368.59 $ 5,474.36 $ 50.00 $ 200.00 99820 HELDER, TIM $ 5,838.12 $ 23,352.48 $ 50.00 $ 200.00 99820 HOYT, RICK $ 7,460.01 $ 29,840.04 $ 50.00 $ 200.00 99820 HOYT, RICK Plus 25 add pay $ 272.01 $ 1,088.04 JOHNSON, FRANK $ 7,974.81 $ 31,899.24 $ 50.00 $ 200.00 99820 JOHNSON, JOYCE $ 2,455.50 $ 9,822.00 $ 50.00 $ 200.00 99820 NORMA K. JONES $ 3,300.45 $ 13,201.80 $ 50.00 $ 200.00 99820 JONES, MICHELE $ 1,182.26 $ 4,729.04 KILGORE, DONALD $ 2,046.48 $ 8,185.92 $ 50.00 $ 200.00 99820 MARTIN, CONNIE $ 3,692.85 $ 14,771.40 $ 50.00 $ 200.00 99820 MCCAWLEY, LARRY $ 1,694.79 $ 6,779.16 $ 50.00 $ 200.00 99820 MITCHELL, MICHAEL $ 2,305.29 $ 9,221.16 $ 50.00 $ 200.00 99820 MUNSON,ANGELA $ 4,198.15 $ 16,792.60 $ 50.00 $ 200.00 99820 MURPHY, MARGARET $ 405.75 $ 1,623.00 $ 50.00 $ 200.00 99820 PERDUE, LARRY $ 2,322.67 $ 9,290.68 $ 50.00 $ 200.00 99820 PERSHALL, ROBIN $ 1,525.07 $ 6,100.28 $ - $ - PRESTON, NORMA J $ 1,601.37 $ 6,405.48 $ 50.00 $ 200.00 99820 RICKMAN, LOREN $ 2,231.07 $ 8,924.28 $ 50.00 $ 200.00 99820 RIGGINS, BONNIE $ 1,669.37 $ 6,677.48 $ 50.00 $ 200.00 99820 ROBERTS, ELDON $ 4,263.24 $ 17,052.96 $ 50.00 $ 200.00 99820 ROBERTS, ELDON Plus 25 add pay $ 587.09 $ 2,348.36 $ - $ - ROBERTS, CAROLYN K $ 3,216.13 $ 12,864.52 $ - ROBERTS, CAROLYN K Plus 25 add pay $ 442.89 $ 1,771.56 $ - SCHUSTER,JOHN H. $ 1,558.68 $ 6,234.72 $ 50.00 $ 200.00 99820 SCHUSTER, NANCY R. $ 1,558.68 $ 6,234.72 $ - $ - STANLEY, MELVIN $ 4,880.07 $ 19,520.28 $ 50.00 $ 200.00 99820 SURLES, VELMA $ 2,721.40 $ 10,885.60 $ 50.00 $ 200.00 TAYLOR, DENNIS $ 2,063.93 $ 8,255.72 $ 50.00 $ 200.00 99820 $ 104,473.92 $ 417,895.68 $ 1,550.00 $ 6,200.00 $ -