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LITTLE CANADA FIREMEN'S RELIEF ASSOCIATION
<br />Schedule C -1
<br />PROJECTED FINANCIAL ACTIVITY - SPECIAL FUND
<br />BASED ON REQUIRED CITY CONTRIBUTION
<br />WITH ROSTER CHANGES
<br />@ $2,000
<br />per year *
<br />Actual * Projected at $2,100 per year
<br />1992 • 1993 1994 1995 1996 1997 1998
<br />*
<br />BEGINNING ASSETS $849,210 * $958,757 $934,202 $888,818 $852,833 $820,639 $903,956
<br />*
<br />REVENUE:
<br />*
<br />City - minimum 0 * 0 21,740 21,490 20,773 19,019 15,166
<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 * 70,625 43,455 41,448 42,642 41,032 45,198
<br />*
<br />Total Revenue 112,573 * 109,145 88316 87,215 88,906 86,817 88,468
<br />*
<br />EXPENSES: *
<br />*
<br />Beaefits 0 * 130,200 130,200 119,700 117,600 0 0
<br />Administrative 3,026 * 3,500 3,500 3,500 3,500 3,500 3,500
<br />*
<br />Total Expenses 3,026 * 133,700 133,700 123,200 121,100 3,500 3,500
<br />*
<br />ENDING ASSETS 958,757 * 934,202 888,818 852,833 820,639 903,956 988,924
<br />ACCRUED PENSION LIABILITY: *
<br />@ $2,000 per year of (959,425) *
<br />@ $2,100 per year of service * (956,870) (907,959) (868,447) (832,726) (912,516) (993,957)
<br />*
<br />(UNFUNDED) /OVERFUNDED ($668) * ($22,668) jS19,141) ($15,614) ($12,087) ($8560) ($5,033)
<br />PERCENT FUNDED
<br />1000% 9 8 % 98% 98% 99% 99'% 99% 11103=1112S 11117S7al 111193aMONINE =17=01=1:11121
<br />Assumptions:
<br />Investment earnings of 8% for 1993
<br />Investment earnings of 5% for 1994 through 1998
<br />Annual increase in state aid of 5%
<br />2122/93
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