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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 />BEGINNING ASSETS
<br />REVENUE:
<br />City - minimum
<br />- additional
<br />State
<br />Investment earnings
<br />Total Revenue
<br />EXPENSES:
<br />Benefits
<br />Administrative
<br />Total Expenses
<br />ENDING ASSETS
<br />ACCRUED PENSION LIABILITY:
<br />@ $2,050 per year of service
<br />@ $2,050 per year of service
<br />(UNFUNDED) / OVERFUNDED
<br />PERCENT FUNDED
<br />@ $2,050
<br />per year *
<br />Actual *
<br />1993 *
<br />$958,757 *
<br />*
<br />*
<br />0*
<br />16,500 *
<br />22,534 *
<br />119,286 *
<br />*
<br />158,320 *
<br />*
<br />*
<br />*
<br />134,543 *
<br />3,244 *
<br />*
<br />137,787 *
<br />*
<br />979,290 *
<br />*
<br />*
<br />(916,919)*
<br />Assumptions:
<br />Investment earnings of
<br />State aid frozen at 1993 amounts.
<br />Projected at
<br />1994 1995
<br />$979,290 $955,254
<br />$2,050 per year
<br />1996 1997
<br />$2,050
<br />6%
<br />Page 1 of 4
<br />1998 1999
<br />$908,159 $865,347 $839,569 $911,619
<br />0 9,663 4,103 4,702 4,837 49
<br />16,500 0 0 0 0 0
<br />20,039 20,039 20,039 20,039 20,039 20,039
<br />55,675 53,803 51,346 49,331 50,675 54,998
<br />92,214 83,505 75,488 74,072 75,551 75,085
<br />112,750 127,100 114,800 96,350 0 0
<br />3,500 3,500 3,500 3,500 3,500 3,500
<br />116,250 130,600 118,300 99,850 3,500 3,500
<br />955,254 908,159 865,347 839,569 911,619 983,205
<br />(878,352) (837,494) (802,372) (783,660) (862,008) (939,184)
<br />$62,371 * $76,902 $70,665 $62,975 $55,909 $49,611 $44,020
<br />107% 109% 108% 108% 107% 106% 105%
<br />6.00%
<br />Page 27
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