2009-10 Adopted Budget - City of Hoquiam

T. Police and Fire Pension Fund - #611Overview:The Police and Fire Pension Fund is a typical reserve fund. It is used to set asidemoney to pay the insured and uninsured portion of the medical, dental and vision claimsof LEOFF I retirees.The ongoing objective of the Police and Fire Pension Fund is to have adequaterevenues to pay future medical, dental, vision and severance claims withoutunexpectedly impacting the budget of the payment year.Revenues:For 2009 this fund is projected to begin the year with no cash balance, and receivetransfers from the General Fund of $514,000 in 2009 and $559,000 in 2008.Appropriations and Transfers out:Appropriations for health insurance services for LEOFF I retirees are budgeted at$532,000 for 2009 and $578,000 for 2010 respectively. This fund is budgeted to end2008 with the same $0 cash balance.118