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LITTLE CANADA FIREMEN'S RELIEF ASSOCIATION
<br />Schedule A -1
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<br />@ $2,000
<br />PROJECTED FINANCIAL ACTIVITY - SPECIAL FUND
<br />BASED ON REQUIRED CITY CONTRIBUTION
<br />WITH ROSTER CHANGES
<br />per year *
<br />Actual * Projected at $2,000 per year
<br />1992 * 1993 1994 1995 1996 1997 1998
<br />*
<br />BEGINNING ASSETS $849,210 * $958,757 $940,691 $894,240 $856,692 $822,757 $898,835
<br />*
<br />REVENUE: *
<br />*
<br />City - minimum 0 * 0 13,993 13,813 13,239 11,674 8,107
<br />- additional 12,000 * 16,500
<br />State 20,971 * 22,020 23,121 24,277 25,491 26,766 28,104
<br />Investment earnings 79,602 * 70,914 $9 43,935 g% 41,862 42,835 41,138 44,942
<br />Total Revenue 112,573 * 109,434 81,049 79,952 81565 79,578 81,153
<br />*
<br />EXPENSES: *
<br />*
<br />Benefits 0 * 124,000 124,000 114,000 112,000 0 0
<br />Administrative 3,026 * 3,500 3,500 3,500 3,500 3,500 3,500
<br />*
<br />Total Expenses 3,026 * 127,500 127,500 117500 115500 3,500 3,500
<br />*
<br />ENDING ASSETS 958,757 * 940,691 894,240 856,692 822,757 898,835 976,488
<br />*
<br />ACCRUED PENSION LIABILITY: *
<br />@ $2,000 per year of service (959,425) *
<br />@ $2,000 per year of service * (913,924) (867,473) (829,925) (795,990) (872,068) (949,721)
<br />*
<br />(UNFUNDED) / OVERFUNDED ($668) * $26,767 $26,767 $26,767 $26,767 $26,767 $26,767
<br />PERCENT FUNDED
<br />1 103% 10390, 103% 103% 103% 10340
<br />Assumptions:
<br />Investment earnings of 8% for 1993 ✓
<br />Investment earnings of 5% for 1994 through 1998
<br />Armual increase in state aid of 5%
<br />2/20/93
<br />Page 18
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