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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 />8%
<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 />BEGINNING ASSETS $958,757 * $979,290 $970,953 $930,161 $899,210 $885,438 $973,213
<br />*
<br />REVENUE: *
<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 * 74,124 72,869 70,110 68,390 71,236 78,258
<br />Total Revenue 158,320 * 110,663 92,908 90,149 88,429 91,275 98,297
<br />*
<br />EXPENSES:
<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 * 970,953 930,161 899,210 885,438 973,213 1,068,010
<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 * $74,587 $75,820 $80,955 $86,462 $94,092 $109,947
<br />PERCENT FUNDED
<br />Assumptions:
<br />Investment earnings of
<br />State aid frozen at 1993 amounts.
<br />107% 108% 109% 110% 111% 111% 111%
<br />8.00%
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