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CI'T'Y OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENT'S <br />December 31, 2009 <br />designed to reduce the effect of short-term volatility in actuarial accrued liabilities and the actuarial <br />value of assets, consistent with the long-term perspective of the calculations. <br />In the January 1, 2008 actuarial valuation, the Projected Unit Credit Actuarial cost method was used. <br />The actuarial assumptions included a 4.5% investment rate of return (net of administrative expenses) <br />and an initial annual health care cost trend rate of 10% reduced by .50% each year to arrive at an <br />ultimate health care cost trend rate of 5.0%. The actuarial value of assets was $0. The plan's <br />unfunded actuarial accrued liability is being amortized using the level percentage of projected payroll <br />method over 30 years on a closed basis. The remaining amortization period at December 31, 2009 was <br />29 years. <br />Note 8 INTERFUND RECEIVABLES/PAYABLES LOANS AND TRANSFERS <br />Individual fund interfund receivable and payable balances at December 31, 2009 are as follows: <br />Fund <br />General Fund <br />Liquor Fund <br />Total <br />Receivable Payable <br />$33,075 $ <br />- 33,075 <br />$33,075 $33,075 <br />Interfund payables and receivables are representative of lending/borrowing arrangements to cover deficit cash <br />balances at the end of the fiscal year. <br />Interfund loans: <br />Fund Receivable Payable Purpose <br />Water Filtration &Purification <br />$1,704,230 $ - <br />Apache TIF Project <br />- 1,000,000 <br />Provide financingfol Fannie Mae <br />loan payment <br />HRA Debt Service <br />437,430 <br />Provide financing for escrow <br />required by 2003 public facilities <br />Revolving Improvement Fund <br />- 84,300 <br />Provide financing for Arbors Alley <br />I'rojeci <br />Liquor Fund <br />- 182,500 <br />Providing financing for the Market <br />Place Liquor Store <br />Total $1,704,230 $1,704,230 <br />73 <br />