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SCHEDULE III MMPUTATION OF FINANCIAL REQUIREMENTS FOR NEXT YEAR COLUMN A COLUMN B COLUMrJ 1. ASSETS FROM LINE 5, SCHEDULE II - - - - - - - - - - - - - - - � Lys- 2. ACCRUED LIABILITY TO END OF THIS YEAR (From L SCH I 3. a) If L 2 is more than L 1, subtract L 1 from L 2. DEFICIT b) If L 1 is more than L 2, subtract L 2 from L 1. SURPLUS If surplus exists, enter 10% of surplus amt in col C and - goto Line 6. - - - - - - - - - - - - - - - - - - - -- - - - .- -- - - - - •- - - Amortization of deficit (or deficits) incurred. prior to end of last year (see note). -� Year original amt ret in amt left incurred amount prior years to retire • 19! v — V = ' 4. Total orig 0 deficit O x10% - - - - - - - d 5. Subtract col (3) total from Line 3 (a). (if col 3 is equal to . or greater than line 3 (a), no new deficit exists.) If col 3 is less than line 3 (a), difference is a NE14 DEFICIT. Enter - Enter 10% of this New Deficit in Col . B - - - - - - - - - - - - - - - - 6. Increase from LINE C, SCHEDULE I - - - - - - - - - - - - - - - - - - - - 7. Anticipated expenses NEXT YEAR, (other than pensions, benefits orinvestrients) - - - - - - - - - - - - offs 8. Anticipated income NEXT YEAR y a) Minnesota State Aid - - - - - - - - - - - - - - - 1, IS b 5% interest on amount of Line 1, above e; Other income (do not include_ local taxes or investment income) - - - - - - - - - � � TOTALCa-b-c - - - - - - - - - - - - - - - - - - - - - -- - - - - - - - 9. TOTAL, COLUMN B - - - - - - - - - - - - - - �o - - - - - - - - - - - - - - A2 - 13.TOTAL, COLUMN C - - - - - - - - - - - - - - - - - - - - - - - - - -. - - --- 11.IF LINE 3 IS MORE THAN LINE 10, THE DIFFERENCE IS THE AMOUNT -OF i ' MUNICIPAL SUPPORT REQUIRED. CERTIFY THIS AMOUNT TO CITY COUNCIL 'f BEFORE AUGUST 1, (bottom part of SCHEDULE II) - - - - - - -- - = - - .s 12.IF•LINE 10 IS MORE THAN LINE 9, NO MUNICIPAL SUPPORT 1S REQUIRED. : •. CERTIFY THAT FACT TO COUNCIL BEFORE AUGUST 1. COUNCIL .IS PER- MITTED TO PROVIDE FUNDS IN EXCESS OF REQUIREMENT. NOTE.• Deficits are generally retired in less than 10 years, because of increase in state aid, ;turnover gain and earned interest greater than 5%. If .desired, the amount in col 2 s may be.-increased so that the total . of col 3 is equal to• line 3 (a). If c re than'one def- icit is' being amortized (the law requires each deficit to be retired separately), adjust col 2 -for the oldest deficit first.. When col 2 equals col 1 for any deficit, that defici# i has been retired and may be removed from the amortization schedule. Whenever a 'New Deficit ap can in Line 5, the original amount of such deficit must be,added to .the amortization schedule-the following year.