05-18-1982 Council Agenda - Laserfiche WebLink

Home Browse Search

DELAHUNT VOTO & CO., LTD. CERTIFIED PUBLIC ACCOUNTANTS / Birch Lake Professional Building • 1310 E. Hwy. 96 • White Bear Lake, MN 55110 • Phone 426 -3263 May 6, 1982 Mr. Richard Boss, President Little Canada Firemen's Relief Association 440 East Little Canada Road Little Canada, Minnesota 55117 RONALD I. DILAHLINI, REl RED RO1IE RT I. VOl0. CPA 111101111 L. RI ARDON, CPA ROItlRI C. 1AL110ES, CPA RE: SPECIAL REPORT ON BENEFITS AND FINANCING Dear Dick: Enclosed are sixteen copies of the Special Report on Benefits and Financing at December 31, 1981. This Report has been prepared to calculate projections based upon the existing benefit levels and increased benefit .levels. The calculations indicate that the present City contribution of $12,500 per year is more than sufficient to finance member benefits at the existing $500 per year of service. The calculations also indicate that the City's present contribution of $12,500 per year is sufficient to finance member benefits at $600 per year of service. The projections and calculations in the Report were based upon existing guide- lines as established by State Statutes. We, however, recommend the establish- ment of additional policy and guidelines (see pages 11 through 13 of the Special Report) to reinforce the concept of maintaining a well- funded position. A joint meeting of your Officers and the City Council (or members thereof) would provide us with the opportunity to elaborate on such a policy and guidelines. If you wish to arrange such a meeting, please advise. Respectfully submitted, DE LA HUNT VOTO & CO., LTD. G 6Q de, stq Robert J. Voto, CPA RJV /Ilk enc. cc: Correspondence File MEMBERS OF AMERICAN INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS • PRIVATE COMPANIES PRACTICE SECTION MINNESOTA SOCIETY OF CERTIFIED PUBLIC ACCOUNTANTS MUNICIPAL FINANCE OFFICERS ASSOCIATION • MINNESOTA ASSOCIATION OF SCHOOL BUSINESS OFFICIALS