2002_0304_packet - Laserfiche WebLink

Home

promote the welfare of the Association and its members, and the maintenance of the equipment of the Fire Department. Section 59 Special Fund All funds received from the Minnesota Fire State Aid monies, all funds received from the annual tax levied by the City Council and any funds or property donated, given, granted or devised by any person which are specified for use for the support of the Special Fund, shall be kept in a special fund on the books of the Association, to be known as the "Special Fund" and may be disbursed only for the following purposes: a. For the payment of service pensions to qualified retired members of the Association; b. For the payment of temporary or permanent disability retirement benefits to qualified disabled members of the Association; c. For the payment of survivor retirement benefits to qualified Surviving Spouses or minor children of deceased members of the Association; d. For the payment of any death benefits to the qualified Surviving Spouse, or if no Surviving Spouse, the estate, of a deceased member of the Association; e. For the payment of the fees, dues and assessments to the Minnesota State Fire Department Association and to the State Volunteer Firefighters Benefit Association in order to entitle this Association's members to membership in, and the benefits of the state associations; and f. For the payment of administrative expenses of the Association, including the following necessary, reasonable and direct expenses when approved by the Board of Trustees: 1. Office expense including but not limited to rent, utilities, equipment, supplies, postage, periodical subscriptions, furniture, fixtures and salaries of administrative personnel; 2. Salaries and itemized expenses for Trustees the President, Secretary and Treasurer of the Association, or their designees, incurred as a result of fulfilling their responsibilities as administrators of the Special and General Funds. 3. Tuition, registration fees, organizational dues and other authorized expenses of the officers or members of the Board of Trustees incurred in attending educational conferences, seminars or classes relating to the administration of the Association; 4. Audit, actuarial, medical, legal and investment expenses; 5. Reimbursement to the officers and members of the Board of Trustees, or their designees, for reasonable and necessary expenses actually paid and incurred in the performance of their duties as officers or members of the Board; and 6. Premiums on fiduciary liability insurance and official bonds for the officers, members of the Board of Trustees and employees of the Association. Section 60 Investment of Funds 15