|
BEGINNING ASSETS
<br />REVENUE:
<br />$2,050
<br />8%
<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 />$958,757 * $979,290 $973,813 $936,474 $908,939 $898,390 $987,201
<br />•
<br />*
<br />City - minimum 0* 0 0 0 0 0 0
<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 * 74,234 73,222 70,727 69,262 72,272 79,377
<br />*
<br />Total Revenue 158,320 * 110,773 93,261 90,766 89,301 92,311 99,416
<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 * 973,813 936,474 908,939 898,390 987,201 1,083,117
<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 * $95,461 $98,980 $106,567 $114,730 $125,193 $143,933
<br />PERCENT FUNDED
<br />Assumptions:
<br />Investment earnings of
<br />State aid frozen at 1993 amounts.
<br />107% 111% 112% 113% 115% 115% 115%
<br />8.00%
<br />Page 35
<br />
|