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BEGINNING ASSETS
<br />REVENUE:
<br />LITTLE CANADA FIREMEN'S RELIEF ASSOCIATION
<br />Schedule C•1
<br />PROJECTED FINANCIAL ACTIVITY - SPECIAL FUND
<br />BASED ON REQUIRED CITY CONTRIBUTION
<br />WITH ROSIER CHANGES
<br />@ 52,000
<br />per year •
<br />Arn,al • Projected at 52400 per veer
<br />1992 • 1993 1994 1995 1996 1997 1998
<br />•
<br />5849210 • 5958,757 5933,153 5887.769 5851,784 5819590 5902.907
<br />•
<br />*
<br />*
<br />City - minimum 0 • 0 15,262 16,569 16,828 16,671 12,274
<br />- additional 12,000 • 16.500
<br />State 20,971 • 20,971 20,971 20,971 20,971 20,971 22,020
<br />Investment carvings 79,602 • 70,625 52,083 49,675 51,107 49,175 54,174
<br />Total Revenue 112.573 • 108,096 88316 87215 88,906 86,817 88,468
<br />•
<br />EXPENSES: •
<br />Benefits 0 • 130200 130,200 119,700 117,600 0 0
<br />Administrative 3,026 • 3,500 3,500 3,500 3,500 3.500 3500
<br />Total Expenses 3,026 • 133,700 133,700 123200 121,100 3.500 3500
<br />ENDING ASSETS 958,757 • 933,153 887,769 851,784 819,590 902,907 987,875
<br />ACCRUED PENSION LIABILITY: •
<br />@ 52,000 per year of service (959,425) •
<br />@ 52,100 per year of service • (956.870) (907.959) (868,447) (832,726) (912516) (993,957)
<br />•
<br />(UNFUNDED) / OVERFUNDED (5668) • (523,717) (520.190) (516,663) (513,136) (59,609) (56,082)
<br />PERCENT FUNDED 100% 98% 98% 98% 98% 99% 99%
<br />Assumptions:
<br />Investment earnings of 8% for 1993
<br />Investment earnings for 1994 through 1998 of 6%
<br />Page 81
<br />5/10/93
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