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BEGINNING ASSETS
<br />LITTLE CANADA FIREMEN'S RELIEF ASSOCIATION
<br />PROJECTED FINANCIAL ACTIVITY - SPECIAL FUND
<br />BASED ON REQUIRED CITY CONTRIBUTION
<br />WITH ROSTER CHANGES
<br />Schedule C-1
<br />@ 52.000
<br />per year •
<br />Acual • Projected at 52300 per vca
<br />1992 • 1993 1994 1995 1996 1997 1998
<br />•
<br />5849210 • 5958,757 5933,153 5887,769 5851,784 5819590 5902.907
<br />•
<br />REVENUE: •
<br />•
<br />City - minimum 0 • 0 6,581 8290 8,310 8,475 3,245
<br />- additional 12.000 • 16.500
<br />State 20,971 • 20,971 20,971 20,971 20,971 20,971 22,020
<br />Investment earnings 79,602 • 70,625 60,764 57954 59,625 57,371 63,203
<br />Total Revenue 112373 • 108,096 88316 87215 88906 86,817 88,468
<br />EXPENSES:
<br />•
<br />•
<br />Benefits 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 123200 121.100 3.500 3.500
<br />•
<br />ENDING ASSETS 958,757 • 933,153 887,769 851.784 819390 902,907 987.875
<br />ACCRUED PENSION LIABILITY: •
<br />@ 52,000 per year of service (959,425) •
<br />@ 52,100 pct year of service • (956,870) (907,959) (868,447) (832.726) (912516) (993957)
<br />•
<br />(UNFUNDED) / OVERFUNDED (5668) • (523,717) (520,190) (516.663) (513,136) (59,609) (56,082)
<br />PERCENT FUNDED
<br />100% 98% 98% 98% 98% 99% 99%
<br />Assumptions:
<br />Investment earnings of 8% for 1993
<br />Investment earnings for 1994 through 1998 of 790
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