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BEGINNING ASSETS
<br />REVENUE:
<br />$2,100
<br />7%
<br />Page 1 of 4
<br />LITTLE CANADA FIREMEN'S RELIEF ASSOCIATION
<br />PROJECTED FINANCIAL ACTIVITY - SPECIAL FUND
<br />BASED ON REQUIRED CITY CONTRIBUTION
<br />WITH ROSTER CHANGES
<br />@ $Z050
<br />per year *
<br />Actual * Projected at $2,100 per year
<br />1993 * 1994 1995 1996 1997 1998 1999
<br />$958,757 * $979,290 $961,687 $913,425 $872,539 $848,352 $924,626
<br />*
<br />*
<br />*
<br />City - minimum 0* 0 2,287 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 * 64,858 63,112 60,174 57,974 59,735 65,075
<br />*
<br />Total Revenue 158,320 * 101,397 85,438 80,213 78,013 79,774 85,114
<br />*
<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 * 961,687 913,425 872,539 848,352 924,626 1,006,240
<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 * $65,321 $59,084 $54,284 $49,376 $45,505 $48,177
<br />PERCENT FUNDED
<br />Assumptions:
<br />Investment earnings of
<br />State aid frozen at 1993 amounts.
<br />107% 107% 107% 107% 106% 105% 105%
<br />7.00%
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