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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 />payer • <br />Acmal • Pmiectedu 52,100 lac year <br />1992 * 1993 1994 1995 1996 1997 1998 <br />BEGINNING ASSETS 5849210 * 5958,757 5933,153 5889.868 5854.040 5822.234 5905551 <br />REVENUE <br />0* 0 0 0 0 67 0 <br />City - minimum <br />- additional 12,000 * 16,500 <br />State 20,971 * 20,971 20,971 20971 20,971 20,971 22,020 <br />Investment earnings 79,602 • 70,625 69,444 66,401 68,323 65,779 72,444 <br />• <br />Tom1 Revenue 112573 • 108,096 90,415 87372 89294 86,817 94,464 <br />• <br />EXPENSES- * <br />• <br />0 • 130200 130,200 119,700 117,600 0 . 0 <br />Benefits 3,026 • • 3,500 3.500 3.500 3,500 3,500 3,500 <br />Athninisirativc <br />Total Expenses 3.026 • 133,700 133,700 123200 121.100 3.500 3.500 <br />ENDING ASSETS 958,757 * 933,153 889,868 854,040 822.234 905,551 996515 <br />ACCRUED PENSION LIABILITY: <br />@ 52.000 per year of smite (959,425) • <br />@ 52,100 per year of service • (956.870) (907959) (868.447) (832,726) (912516) (993957) <br />• <br />(UNFUNDED) / OVERFUNDED (5668) • (523.717) (518.091) (514,407) (510,492) (56,965) 52.558 <br />PERC'ENI FUNDED <br />100% 98% 98% 98% 9990 9990 10090 <br />Assumptions: <br />Investment earnings of 8% for 1993 <br />Investment earnings for 1994 through 1998 of 8% <br />Page 85 <br />