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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 />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 *
<br />1993 *
<br />Projected at $2,100 per year
<br />1994 1995 1996 1997
<br />$2,100
<br />5%
<br />Page 1 of 4
<br />1998 1999
<br />$958,757 * $979,290 $943,156 $894,894 $854,129 $830,795 $907,353
<br />*
<br />*
<br />*
<br />0 * 0 21,246 18,241 18,337 18,228 13,602
<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 * 46,327 44,153 42,055 40,489 41,790 45,618
<br />*
<br />158,320 * 82,866 85,438 80,335 78,866 80,058 79,259
<br />*
<br />*
<br />*
<br />134,543 * 115,500 130,200 117,600
<br />3,244 * 3,500 3,500 3,500
<br />*
<br />137,787 * 119,000 133,700 121,100
<br />*
<br />98,700 0 0
<br />3,500 3,500 3,500
<br />102,200 3,500 3,500
<br />907,353
<br />ENDING ASSETS 979,290 * 943,156 894,894 854,129 830,795 983,112
<br />*
<br />ACCRUED PENSION LIABILITY:
<br />@ $2,050 per year of service (916,919)*
<br />@ $2,100 per year of service * (896,366) (854,341) (818,255) (798,976) (879,121) (958,062)
<br />(UNFUNDED) / OVERFUNDED $62,371 * $46,790 $40,553 $35,874 $31,819 $28,232 $25,050
<br />PERCENT FUNDED
<br />107% 105% 105% 104% 104% 103% 103%
<br />Assumptions:
<br />Investment earnings of 5.00%
<br />State aid frozen at 1993 amounts.
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