Comprehensive Annual Financial Report 12/31/2019

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CITY OF LINO LAKES, MINNESOTA REQUIRED SUPPLEMENTARY INFORMATION Statement 16 SCHEDULE OF CHANGES IN THE NET PENSION LIABILITY AND RELATED RATIOS - LINO LAKES PUBLIC SAFETY DEPARTMENT - FIRE DIVISION For The Last Ten Years Fiscal year ending and measurement date December 31, 2019 December 31, 2018 December 31, 2017 Total pension liability: Service cost $52,320 $48,182 $47,952 Interest on pension liability 16,603 8,754 6,191 Changes of benefit terms - - - Differences between expected and actual experience (22,680)69,760 (11,672) Changes of assumptions - - - Benefit payments, including refunds of employee contributions - - - Net change in total pension liability 46,243 126,696 42,471 Total pension liability - beginning 224,407 97,711 55,240 Total pension liability - ending (a)$270,650 $224,407 $97,711 Plan fiduciary net position: Contributions - employer $ - $ - $ - Contributions - State of Minnesota 121,630 118,144 113,797 Contributions - other - 64,869 58,800 Net investment income 78,063 (18,696)9,153 Benefit payments, including refunds of employee contributions - - - Administrative expense (694)(702)(572) Net change in plan fiduciary net position 198,999 163,615 181,178 Plan fiduciary net position - beginning 389,320 225,705 44,527 Plan fiduciary net position - ending (b)$588,319 $389,320 $225,705 Net pension liability/(asset) - ending (a) - (b)($317,669)($164,913)($127,994) Plan fiduciary net position as a percentage of the total pension liability 217%173%231% Covered payroll N/A N/A N/A Net pension liability as a percentage of covered employee payroll N/A N/A N/A N/A - the Lino Lakes Fire Department is comprised of paid on-call firefighters, whose pay does not meet the definition of covered payroll. The City created its own fire department in 2016. Therefore, information prior to 2016 is not available. Additional years will be reported as they become available. See accompanying notes to the required supplementary information. 97