Annual Financial Report 12/31/1986

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CITY OF LINO LAKES, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 1986 Note 2 - DETAIL NOTES ON ALL FUND AND ACCOUNT GROUPS (Continued) RETIREMENT PLANS (Continued) Net assets - June 30, 1986 Aggregate accrued liabilities including APV of plan benefits Page 15 of 19 Public Employees Public Employees Retirement Fund Police and Fire Fund $ 2,076,844,000 $ 405,825,000 1,228,702,000 363,908,000 Unfunded actuarial accrued liability $ 848,142,000 $ 41,917,000 PERA does not make separate measurements for individual employers. The City of Lino Lakes made employer contributions totaling $38,657 which represents .044% of total contributions of all employers participating in the system ($88,775,000) for the year ended June 30, 1986. The City's contributions were made by the required due dates. Information on investment activity and a listing of specific investments of the PERA is available at the Minnesota State Board of Investment. Ten -year historical trend information is available in the published comprehen- sive annual financial report of the Public Employees Retirement Association. The City made employer contributions of $24,060 to the Federal Social Security Retirement Plan. DESIGNATIONS OF FUND EQUITY Major fund equity designations at December 31, 1986 and 1985 are as follows: December 31, 1986 1985 General Fund: Designated for prepaid insurance $ 53,714 $ 47,624 Designated for LAWCON matching expenditures 30,000 30,000 Special Revenue Funds: Designated for ensuing year's budget 2,377 12,230 Debt Service Funds: Reserved for debt service 292 Capital Project Funds: Designated for capital improvements 1,713 (133) Designated for equipment acquisition 43,417 117,797 Designated for park improvements 84,663 79,039 Special Assessment Funds: Reserved for debt service 627,602 313,427 Designated for committed contract 403,918 1,466 Designated for construction 671,622 1,533,515 Totals $ 1,919,026 $ 2,135,257