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BEGINNING ASSETS
<br />REVENUE:
<br />LITTLE CANADA FIREMEN'S RELIEF ASSOCIATION
<br />PROJECTED FINANCIAL ACTIVITY - SPECIAL FUND
<br />BASED ON REQUIRED CITY CONTRIBUTION
<br />WITH ROSTER CHANGES
<br />$2,100
<br />6%
<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 $952,422 $904,160 $862,468 $838,207 $913,931
<br />*
<br />*
<br />City - minimum 0 * 0 11,859 8,347 8,812 8,592 3,343
<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 * 55,593 53,540 51,022 49,088 50,593 55,136
<br />Total Revenue 158,320 * 92,132 85,438 79,408 77,939 79,224 78,518
<br />EXPENSES: *
<br />*
<br />Benefits 134,543 * 115,500 130,200 117,600 98,700 0 0
<br />Administrative 3,244 * 3,500 3,500 3,500 3,500 3,500 3,500
<br />*
<br />Total Expenses 137,787 * 119,000 133,700 121,100 102,200 3,500 3,500
<br />*
<br />ENDING ASSETS 979,290 * 952,422 904,160 862,468 838,207 913,931 988,949
<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 />*
<br />(UNFUNDED) / OVERFUNDED $62,371 * $56,056 $49,819 $44,213 $39,231 $34,810 $30,887
<br />PERCENT FUNDED
<br />Assumptions:
<br />Investment earnings of
<br />State aid frozen at 1993 amounts.
<br />107% 106% 106% 105% 105% 104% 103%
<br />6.00%
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