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$2,050
<br />5%
<br />Page 1 of 4
<br />LITTLE CANADA FIREMEN'S RELIEF 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 />*
<br />BEGINNING ASSETS $958,757 * $979,290 $945,975 $898,880 $856,996 $832,145 $905,031
<br />*
<br />REVENUE: *
<br />*
<br />City - minimum 0 * 0 19,094 14,052 14,269 14,489 10,287
<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 * 46,396 44,372 42,324 40,692 41,858 45,502
<br />*
<br />Total Revenue
<br />EXPENSES:
<br />158,320 * 82,935 83,505 76,416 74,999 76,386 75,828
<br />*
<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 />Total Expenses 137,787 * 116,250 130,600 118,300 99,850 3,500 3,500
<br />*
<br />ENDING ASSETS 979,290 * 945,975 898,880 856,996 832,145 905,031 977,359
<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 />(UNFUNDED) / OVERFUNDED $62,371 * $67,623 $61,386 $54,624 $48,485 $43,023 $38,174
<br />PERCENT FUNDED
<br />Assumptions:
<br />Investment earnings of
<br />State aid frozen at 1993 amounts.
<br />107% 108% 107% 107% 106% 105% 104%
<br />5.00%
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