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LITTLE CANADA FIREMEN'S REUEF 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 />@ $2,100 per year of service
<br />(UNFUNDED) / OVERFUNDED
<br />PERCENT FUNDED
<br />$2,100
<br />4%
<br />Page 1 of 4
<br />@ $2,050
<br />per year *
<br />Actual * Projected at $2,100 per year
<br />1993 * 1994 1995 1996 1997 1998 1999
<br />$958,757 * $979,290 $933,891
<br />*
<br />*
<br />*
<br />0 * 0 30,447 27,949 27,695 27,717 23,730
<br />16,500 * 16,500 0 0 0 0 0
<br />22,534 * 20,039 20,039 20,039 20,039 20,039 20,039
<br />119,286 * 37,062 34,952 33,274 32,058 33,136 36,231
<br />Assumptions:
<br />Investment earnings of
<br />State aid frozen at 1993 amounts.
<br />$885,629 $845,790 $823,383 $900,774
<br />158,320 *
<br />*
<br />*
<br />*
<br />134,543 *
<br />3,244 *
<br />*
<br />137,787 *
<br />*
<br />979,290 *
<br />*
<br />73,601 85,438 81,262 79,792 80,892 80,001
<br />115,500 130,200 117,600 98,700 0 0
<br />3,500 3,500 3,500 3,500 3,500 3,500
<br />119,000 133,700 121,100 102,200 3,500 3,500
<br />933,891 885,629 845,790 823,383 900,774 977,275
<br />(916,919)*
<br />* (896,366) (854,341) (818,255) (798,976) (879,121) (958,062)
<br />$62,371 * $37,525 $31,288 $27,535 $24,407 $21,653 $19,212
<br />107% 104%
<br />4.00%
<br />104% 103% 103% 102% 102%
<br />Page 39
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