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$2,050
<br />4%
<br />Page 1 of 4
<br />LITTLE CANADA FIREMEN'S REUEF ASSOCIATION
<br />PROJECTED FINANCIAL ACTIVITY - SPECIAL FUND
<br />BASED ON REQUIRED CITY CONTRIBUTION
<br />WITH ROSTER CHANGES
<br />® $2,050
<br />per year *
<br />Actual * Projected at $2,050 per year
<br />1993 * 1994 1995 1996 1997 1998 1999
<br />BEGINNING ASSETS $958,757 * $979,290 $936,696 $889,601 $848,644 $824,722 $898,443
<br />REVENUE: *
<br />*
<br />City - minimum 0 * 0 28,340 23,816 23,669 23,993 20,393
<br />- additional 16,500 * 16,500 0 0 0 0 0
<br />State 22,534 * 20,039 20,039 20,039 20,039 20,039 20,039
<br />Investment earnings 119,286 * 37,117 35,126 33,488 32,219 33,189 36,138
<br />*
<br />Total Revenue 158,320 * 73,656 83,505 77,344 75,927 77,221 76,570
<br />*
<br />EXPENSES: *
<br />*
<br />Benefits 134,543 * 112,750 127,100 114,800 96,350 0 0
<br />Administrative 3,244 * 3,500 3,500 3,500 3,500 3,500 3,500
<br />*
<br />Total Expenses 137,787 * 116,250 130,600 118,300 99,850 3,500 3,500
<br />*
<br />ENDING ASSETS 979,290 * 936,696 889 601 848,644 824,722 898,443 971,513
<br />*
<br />ACCRUED PENSION LIABILITY: *
<br />@ $2,050 per year of service (916,919)*
<br />@ $2,050 per year of service * (878,352) (837,494) (802,372) (783,660) (862,008) (939,184)
<br />*
<br />(UNFUNDED) / OVERFUNDED $62,371 * $58,344 $52,107 $46,272 $41,062 $36,435 $32,328
<br />PERCENT FUNDED
<br />Assumptions:
<br />Investment earnings of
<br />State aid frozen at 1993 amounts.
<br />107% 107% 106% 106% 105% 104% 103%
<br />4.00%
<br />Page 19
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