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HomeMy WebLinkAboutMINUTES - 05141985 - 1.57 i THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTY, CALIFORNIA Adopted this Order on May 14 , 1985 by the followingvote: AYES: Supervisors Powers , McPeak, Schroder , Torlakson, Fanden. NOES: None. ABSENT: None . ABSTAIN: None . SUBJECT: _ Employees ' Retirement Association Financial Report . The Board received an April 30 , 1985 letter from Alfred P. Lomeli , Treasurer , Contra Costa County Employees ' Retirement Association, submitting report on the financial condition of the Employees ' Retirement System for the year ending December 31 , 1984. IT IS BY THE BOARD ORDERED that the aforementioned report is RECIEVED and FILED. E hereby deriffy that this is a tr a 3nd correci copy of An e0on taken and enterer on the minutes of the Board of$riper,: ors on tho date shown. ATT ESTE01: AIV PML f`;i'C.,ELO ., Clerk of the Board of'Supervlsors and county Administrator Byf Deputy Orig. Dept.: cc' County Administrator P. Tax Collector's Office * Contra � Alfred County Trere Lomeli asurer-Tax Collector 6A Court Street Costa Joseph L. Martinez Deputy Tax Collector Finance Building, Room 100 CountyP.O. Box 631 ' Martinez, California 94553 (415) 372-4122 April 30 , 1985 The Board of Supervisors Contra Costa County Martinez , CA 94553 > x Gentlemen. In compliance with Government Code Section 31597.1 we. are submitting a statement of the financial condition of the Contra Costa County Employees ' Retirement Association '`,`f.or ' the year ending December 31 , 1984 . Very truly yours , ALFRED P. LOMELI Treasurer - Tax Collector APL:dmp enclosure .w REPORT ON THE FINANCIAL CONDITION OF THE CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT SYSTEM YEAR ENDED DECEMBER 31, 1984 } CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT ASSOCIATION State of Financial Condition. December 31, 1984 i ASSETS Current Deposits with County Treasurer $ 223,722 Deposits with Bank of America: First Mortgage Principal and Interest Account 2,684 First Mortgage Loan Trust Fund Account 52,212 Prepaid expenses 15,859 $ 294,477 Receivables: Contributions 3,495,430 Accrued Interest 7,968,497 Dividends 1 ,877,999 First Mortgages 8,112 Real Estate 114,569 Other 552,099 14,016,706 Investments: (Exhibit A, Schedules I & II) Bonds 264,495,110 Corporate Stocks 86,541 ,944 First Mortgages 1,664,494 Real Estate 21 ,264,435 Short Term 31,806,089 405,772,072 Leasehold Improvement, Equipment and Furniture 149,346 . Less allowances for depreciation (-8;064) 141 ,282 TOTAL $420,224,537 LIABILITIES, RESERVES AND FUND BALANCE Current Liabilities: Accounts Payable $ 1,976,295 Accrued Expenses 299,869 Other i 653;320 $ 29929,484 Reserves: (Exhibit A, Schedule III) Member Deposits 70,302,478 County and District Advances 46,306,043 Retired Members 213,7389287 Cost of Living 70,152,218 $1000 Post Retirement Death Benefit 1,1.39,053 401 ,638,079 Cost of Living Supplement 144,127 Fund Balance: (Exhibit B) Statutory Reserve 4,202,245 Surplus - 11010,602 15512,847 !TOTAL $420 ,224 ,537 CONTRA COSTA COUNTY EMPLOYEES'RETIREMENT SYSTEM Schedulue of Investments in Securities December 31, 1984 12-31-84 Unamortized Net 12-30-84 Face or Cost(1) Premium Book Value - (Discount) Value Bonds: GNMA k FHLM (Pass thru) $ 68,049,783 $ (6,211 ,696) $ 61,838,087 Foreign 2,138,240 (6,428) 2,131 ,81"2 Government 143,617,475 (3,985,548) 13.9,631 ,927 Industrial .. 64;766;631 (3;873;347)' 60;893;284 Total Bonds (2) $278;572,129 $(14;077;019) $264;495110 Stocks: Common 41,641 ,944 0 41 ,641 ,944 Mutual Funds 44;900,000 ....... .. 0.......-.... 44900000 Total Stocks (2) $ 86,541 ,944 0 - - 86;541,944 First Mortgages FHA/VA - 1;703;325 (38,831) ....1;664494 Real Estate Property 19;043,660 ..........0 . - - 19;043;660 I Short Term Investment - 31-,950 000 . . .(143--,911) 31 806;089 Total $417,811,058 $(14,259.7611 $403,551 .297 (1) Bonds, First Mortgages and Short Term at Face; Common Stocks, Mutual Fund and Real Estate Property at Cost. (2) Total Market Value of Stocks at December 31, 1984 was $84,861,465 Total Market Value of Bonds at December 31 , 1984 was $264,401,791 EXHIBIT A SCHEDULE I • rn co +-) ra (n c or. crr� �"� rn � r- y LOr-( 00Hr- � WCn r- E '--1 r- N On LO 00 N ri m i--3 M O N N MO» MOr1 N a) i 'd- Ir d' r- N 1�0 r� v N . > Q 1 N M Cl) N N N �t H C N Q ►� E ice• W a) I- J u H = cu CIO S S c000HMOCO t0 X U 4- r- r- M ct 00 rl_ ko m " L W N O b '-i N N M n M %.0 r-•1 m ^ w C r r- OlONd C cora n i U Or- IPHNtpzd' O1 r- C M r1 'cP N t.[) M M m a) L ri M - 0:� d if3 Lu T N N C >- O O o0 00 -4Lnr� m CT �t N (� 4--) :V qr Cl) CD CD ro V H .� C Mt0tD00r1 M r-- T O M �t --4 O 1 c O M fr d E+� C i-> I:zrMONO1d Nr M CO lJJ L r N O LO r� N r� to M c0 ON a a) an di '-i CL r > H H O L C 64 t0 W L O i LL to `3 ��-• ll O C W U•• aJ =3 LO t1') O C -1-) i-) LO n Ln O IP r- r a LO I.C7 r-� 00 r- CO C l 00 L c a� = V) V) •r >J O ti O L aJ a) a) ?- O O LO N N �t :Zr qr C -i a) NN -4H .--41-1NH Q ~ N O M ct LO •� w r� r� r-_ LO kO Ol Ol 01 r- Q 7 rnr- • 4 H •-4 O1 ce Z N (0 M -r- ^ ^r- O C Ili ^ri H an •--i r♦ cn ^ U J H. e-1 H .•-1 wTri a) a) L ^ L O L -0 H -0 r0 1 a) ;U -c E E :3 aJ 7 U Cl) a) a) i O O 4-3 C i > C V -0 C 4-) T r0 (a (0 O :3 a) a) O U -P O 7.7 Z '7 O LL 7 CD L a) 0. 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V Y /1 Y V V V •. loo` n t-+ 00 V N N N 00 Ww to 1 W O Ul O00 O O V ►� to . w ' V O F-' W A V Ln A W V 00 v Y v Y v Y O L I--� I 00 OA to I-aN tT W N to V O to N L7.tri O� N N to O v �Oi'v u v 0 A lD V i CONTRA COSTA COUNTY EMPLOYEES' RETIREMENT SYSTEM Statement of Income and Changes in Fund Balance December 31, 1984 Income for the Year: Income from Securities (Exhibit B, Schedule I) $34,957,663 Income from Savings 6,288 Miscellaneous Income (Expense) Total Net Income $34,962,734 Interest Credited to Reserves Current (30,209,848) Prior Years Adjustment ....... ..- 4;503 Total New Interest Credited (30205-,345) Income Added to Fund Balance 4,757 ,389 Fund Balance, Beginning of Year 24,671 ,220 Distributions from Fund (13,653,371) dministrative/Other Expenditures (474,897) her ....212506 .10,7.55;458 Balance, End of the Year $15,512.847 EXHIBIT B M a a � N �^ �U d ro ON p p 1 M 0 ©n IC M O N r- N Co J ,�+ co a L 110 co . d o O O co 0 co � p N E AL) co Ln C-j M �^ tcp t� co N ✓ M �A r+ � � y • Z 4 N � y A y Lp d co y ~ua ro � c � G + L �O E c!� 5 ON a V1.1 Ln �^ d Y r1 t! 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