HomeMy WebLinkAbout4.r. Fire Relief Association Past Funding Correction CITY OF ROSE�20UNT
EXECUTIVE SUblMARY FOR ACTION
CITY COUNCIL MEETING DATE: October 5, 1993
AGENDA ITEbi:Fire Department Relief Association AGENDA SECTION:
Past Funding review and correction Consent
PREPARED BY: Stephan Jilk AGEND�� G��
� �
�:
ATTACffi+�ENTS: Benefits calculations for years AP Y:
1992 and 1993 original and corrected copies ���, (
As part of the funding for the benefits paid to Fire epartme e ief
Association members the city is asked to annually commit to a payment from
ad valorem tax collections.
Each year the Relief association calculates the payment requested of the
city by doing a sort of "actuarial° analysis of the funds needed based an
the approved rate of retirement, or benefits to be paid.
For several years these calculations were completed by relief inembers,
using the forms supplied by the state of Minnesota.
This last year the relief association has called upon a outside person to
conduct these analysis. In daing so the calculations were reviewed for the
past several years .
In conducting this review it was found that the calcula.tions for several
years were in error and that the amount asked for, to be funded by the
City, was higher than needed.
The amount budgeted for in 1994 is correct.
In order to deal with this ma.tter I sat with members of the relief
association and suggested that since the calculations for 1994 are based on
the amount of reserve in the investment account, which actually reflects
the "overage" paid by the City I would recommend that the funds that the
City paid, in excess of those needed, be left in the Associations reserve
but that the City Council take formal action to recognize the error and
allowing the funds to remain.
That is my recommendation.
Details on the calculations, as originally presented and the corrected
amounts are attached.
RECODIl+lENDED ACTIONtMotion to authorize the retaining of $15, 179 . in
overpayment to the Rosemount Fire Relief pension fund for the years of
1992 and 1993 in the Relief Association pension fund for pension payment
use under the currently approved rates.
COUNCIL ACTION:
. . _ �'age 1 �
SCHEDULES 1-11-III FOR LUMP SUM NSION PLANS
,
. STATE FIRE AlD YE 1992 ��
�fighters Relief Association of Rosemount County of Dakota
;
SCHEDULEI .
�ompufation of benefit of re(ief association special fund (at � 1 ,400 p�r year of service)
�r ail member based on ttieir years of service as active fire department members
1991 1992
F.D. To End of This Year To End of Nexi Year
Entry Yrs. Active Accrued Yrs.Active Accrued
Name Age Date Service Liabitity Service Liability
� 2 3 4 5 • 6 7
1McNearney 51 10/66 25 I 35 OOQ 26 36 400
2Turek 48 10J66 25 35 000 2b 36 40Q.
3Lundell 45 I 10 69 22
4Johnson 56 5/72 20 I 28 000 21 29 400
SStauffer C. 43 12i74 18 I 23 772
oSwanson 47 6/74 17 21 $40 ( 18 23 772
7Strese, S_ 32 12/78 14 I 16 576 1� I 18 256
8Strese, J. 30 11/80 � 11 12.012 12 13 468
9 A er � 39 ( 4 i8 2 10 � 10, 640 I 11 ( 12 012
o Haeg 34 � 4l8 2 10 � 10, 640 � 11 I 12 012
; Reis 32 4/82 � 10 ( 10, 640 11 I 12 , 012
"�ornovich 38 � 9/8 2 ( 9 � 9 324 I 10 ( 10 640
.�nderson I 41 � 4/8 3 9 ( 9 324 I 10 � 10 640
� Corrigan � 26 � 4/8 4 I 8 ( 8 064 I 9 1 9 324
�Hanvelt I 40 � 10/8 � I 6 l > 740 I 7 I 6 88$
� Taberv � 37 I 10/8 � 6 I�� 5 740 � 7 1 6 888
iBurkhalter 26 � 11/85 6 I > , 740 I 7 6 , 888
� Evenson � 33 4/86 5 4 , 676 � 6 � 7 , 740
gGerrits 23 � 7/86 � � � 4 , 676 � E M 5 , 740
� Paulson 36 I 7/$ 6 5 I 4 , 676 I 6 5 740
� Adrian ( 26 � 4/87 I � I 4 . 676 6 I 5 . 740
� Zk,a'"t � 35 � 4 8 7 I I t� ( I " 740
3Felmlee � 27 � 4/84 I 3 I 2. 660 I 3 I 2 660
< Erickson 33 10/88 I 3 I 2 , 660 I 4 3 640
� Bailey 21 5/$ 9 3 I 2 660 � 4 3 640
7otai of Deferred Pensions �
Total of Unpaid Insialimsnts NEXT PAGE �
Total of Early Vested Pensions
� �:;'<'r::�:}i;•y•;�}:'•':;.:;`:�'•:::;=3:.;::�;::;:'•3i; � . �
.. t T.4,�,}��� Y fi ;
. Total Accrued Liabitity To End of Next Yr. 1992 (Column � — ::::: fv.::.:.. . ..`�-- ------- NEXT PAGE
. Totat Accrued Liability To End of This Yr. 1991 (Column 5) ---------- ATEXT PAGE
. Subtract Line B. from Line A. (normal cost; enter here and on Line 6, Scfiedule lll)
rractional Years of service must be calculated to nearest fu{i year.
Do not enter liabi(ity in Columns 5 ar 7 for any person who wiii receive entire pension during this year.
For instaliment Jiabiliry, enter amount which wiil be payabie afier end of this year in both col. 5 and col. 7,
If interest is to be paid on unpaid pensions, add interest for 1 year in coL 7.
A copy o# these schedules must be presented to the Ciry Council before Aug. 1 each year.
, . Page 2
SCHEDULES I—Il—lil FQR LUMP SUM PENSION PLANS
. STATE FIRE A1D YEAR 1992
'ighters ReCief Association of Rosemount County of Dakota
SCHEDULEI
�mputation of benefit of refief association special fund (at � 1�,400 per year of serviee)
r ali member based on th�ir years of service as acfive fire department msmbers.
1s91 1ss2
F,D. To End of This Year 7o End ot Ne�t Year
Entry Yrs. Active Accrued Yrs. Active Accrued
Name Age Date Service Liabitity Service Liability
1 2 3 4 5 6 �
� Smith 31 5/89 3 2,660 4 3 , 640
� Stauffer, D. 21 4 90 , �
` Tucker 24 ( 4 9 , 3 2 , 660
[�'idstram 1 36 I 4/90 2 I 1 , 736 3 2,660
' Moonev 27 8/90 1 � 840 2 1 , 736
Traehet � 36 I 8/90 I 1 840 2 1 , 736
` Ford 29 7/91 1 � 840 2 1 , 736
Hel eson � 35 I 7/91 I 1 I 840 2 1 , 736
Hennev � 26 � 7191 I 1 � � � , �
Latzke � 2 I 7/91 j 1 f � I { 1 . 736
I I � � � �
I I � � � �
I ! � � � �
f I � � � � �
I I I � � �
I I � � � �
I I � � �
I : I � �
I I � � � �
I j � (
I I � � �
I � ; � �
I I � � � �
I � � � �
I �
Total of Deferred Pensions � 28,0 0 ,
Total of Unpaid lnstaliments � � (
'otal oi Early vested Pensions � 44 , 544 44 , 544
.; : ;. ;.�
�otal Accrued Liabifity To End of Next Yr. 1992 (Column � --- �� 437, 636
-ota! Accrued Liability To End of This Yr. 1991 (Column 5) 39 5 , 664 ______ __ 39 5 , 664
ubtract Line B. from Line A. (normal cost; enter here anC on Line 6, Schedule III) 41 , 9 72
-raciional Years of service must be calculated to nearest full year.
�o not enier (iability in Columns 5 or 7 for any person who will receive entire pension during this year.
=or instaUmeni tiability, enter amount which will be payable afier end o` ihis year in both col. 5 and col. 7.
!f inierest is to be paid on un�aid pensions, add interest for 1 year in col. 7.
=� copy of these schedules must be presented to the City Council before Aug. 1 each year.
, SCHEDULEIi
PROJECTION OF RELIEF ASSOCIATION SPECIAL FUND ASSETS TO DECEMBER 31, 1991
� 1. Assets at January 1, 1991 (this year) >;: ,.,,: 2g4 686.00 �
_. .:...:. ... .....
2. Anticipated income to end of thisyear Amount � '
a Minneso _ ;�:,,;:;::v:>_';r.<:::�<:>:;,.:>,r,>;v<>;>:::::<.;:::
) ta State Aid 21 ,9�5:00 { �r , �� ;#
b) Receipts from local taxes 32, 813.08 ` k Y�r` .
.:,:>:�.:.,:.::.<..:;.;:<-::>::>.{a,>�..<,,<,..;:::::::
c) Interest on investments 17 ,081 .00 � � �" ���'�'s�`
�.:... .. ..... ;,
d) Other income :�:�.,�;,.;�:,.,:;:.,{.,,:;:::f.�,;.::..<:;:,,::;.::::
:•,•;•,•,::..::;z�••:N�:.::�k>::,;Y;:;Y;:;^:i;v,;`:;:.
� ii:yi:?iw�:?{;i:^:r'r,:i;.i�>:v:k%:iy::.iy;i.�::i:r�: �
. . . . ... .... ... .. .
' Totai of Lines a-b-c-d �k�.<v<{,,> 4"<�.�, .�.r...h<�; � i ,
3. Beginnng�ssets pius estimated income for this ysar(Line 1 + Line 2) 3 5 6, 5 2 5.00
4. Estimated disbursements through end af this year Amount ��.�..r� '.�,.k�>:<{��:�r��
a) Pensions ;���,����; �.���;:<h��{�:
xw,.. w•... �cd
- � ! ;;..A;.;jtf;.:��{�y$�".'%e'N:x•;•fr',•.. .
�,�'N ��`!h{...L'S;:Ai f}:i.:..�J.t i
>iX4iti':�if:i."$:xY:T r�:.• s�! .iS���:
b) Other benefits x�:i:�v«::<..�.;..�..�..�.;:;.��,�.' �;;:_;
) `� ,�,�'�{,�.>�'�..�"�"1'
, C MSFDA r VF �',�.�� ' 3'•.:r ...�:'.
o BA dues, if any p �: ��::���.�
,�,�,.�;.�.���������;�t>
� e and overhead 7 00.00 �s�:��,.:.,;n:A::�:Y:•.s:,;,. ��,�
Administrativ .��..;:,�;:F:<:.:Y::';�:.:,t;�:,� f
$�i+:p;L f�J Y�3:_FfYG. "a"�..`cFr:r.:t,:�:::::: . .
Total of Lines a-b-c-d >"�'�a�'��.,��`�z'`��:fit�;�,. 46. Q0.00
�. Projected assets at end of ihis year 12/31/91 (Line 3 mmus Une 4) 309 625 .00
6. Caiculation of average speciai fund income per member
�' : i ,�/ i �A^? \i'
•r/S f iCy��'.^�{]Y:..r....f.:4:
(other than interest or inv ::<:;-.;.:�;::>:::<:>�:>::<.:;:<>.:.:.:.;.>:>;:.;:>.;;.
estment income) ,:;�:..:<::;:::<:>:::<:.>:>:;���.>.�:.;::::;;:::,.::
:.>:;;f:::.:>:,:,:r,:.::>,�::::;::,;:,:�:::>::,;;::;::
Column A C i ::;:.�;:::;..F:::.,;::::;::���:r..<::<_>:�;;;:::<:>:<::;:::
o umn B Column C ,�;. k. { ~ �,�
State :n�;:<«:;v:�.:::,:hs::�:$�:y.:::,;;:::;:;>.::::;<<:
Municipal 109�0 of . .�:t�>x�:<��:::��., ::.:.
::Y''•�:c > '��,'' «:t;�:<,.<..;�;;::`�::^::
::•{:{%.SrYf`f,.yv�.:::;•:•i:. . -.: �
Aid SuPPort Surplus (if any) �t <` '```� ""`, �
a� �95� � 21 �7C7�Q� 32 �13���0) . . � � 'v � .. .
`i'::'±'�;:+r;'�"";<'{�":�'•'j%:;:;:;. ' .
b) 1989 � 19 , 5 7 5 .001 16 906.00� Q �:,,,>. ...>:;:,.,;,.>_:,.:..�....:
<w::;<:K«:��,<,';;,:;�:.;:Y.>:;>.::<:;:::;«;:,
1 :,..��;<.;:.:�
C 988 ��::w>:;:��::>:�:::<;�;`::«a�.:�:>::;;�;::::<.;:;::=
� I 18 . 13 2.00 9 2 4 0.00� 0 ;;;`�;a.;{;:n�:�r�:::;:.K:>��;.:;::.;::;>:::x::>.:
d)Total � 59 287 .00 58 . 9�9 .001 0 } �Yx
� 4 T ? f {
=S e)Totai of Coiumns A + B + C 11 w::;v.:,>:.�.>.::.r;_'.:.:::.`::;:,:':.;�"`:`';
,
S_ , 4 = 9� 4 � . ...��:::3
� - 3 � _ h� � ' _ :<:��:>'<:1::2<5:.:::00
(Line 6e) (average) (� members)
CERTIFICA i ION OF SPECIAL FUND REQUIREMENTS /
This information must be certified to the goveming body of the municipality or independent �N� v
non-profit firefighting corporation by August 1, 1991. 0�/ � �
We, the officers of the Rosemount Firefighters Relief Association, s e that the
accompanying schedules have been prepared in accordance with provisions ot the Volunteer
Firefighters Relief Association Guidelines Act of t97 ' ,�n�- .S. 69.772) and that the
schedules are correct and complete to the be our knowledge. The financial requirements of
the relief association's Special Fund for 199 are 28 � ��� ;` . (Line 11, Schedule Itt)
�/
Check here if n ppaR required �
Average no -investment income per member of special fund for the past 3 yea�s
� �- �v ^ �' /
S ture of Pres dent Date
7� 3 0- �i (
Signature of Secre,ary Date
��3D �9'/
�gnature of Treasu e ' f Date
� 1
.. . . .. � � � .
Q�J� ���
1� � ��
.-G
ROSEMOUNT �C� �
�
FIRE DEPARTMENT RELTEF ASSOCIATION Go`�
Report of financial condit' d of 1991
and requirements f 199
SCHEDULfi I
CALCUZATION OF SPECIAL FTJAtD LIABILITY FOR ALL MSMBfiRS AT
PENSION LfiVEL OF $1,400 PER Y£AR OF ACTIVE SfiRVICE
fiNTRY TO BND OF 1991 TO END OF 1992
_ NO_ NAM$ _DATE-------YRS LIAB YRS ---I,IAB_
--------- ---------------------- ------
-------------------------------------------------------------
l MeNFARNFY Oct-66 25 3�,000 26 36,400
2 TURFsK Oct-66 25 35,000 26 36,400
3 LUND�LL Oct-69 22 30,8Q0 23 32,200
4 SWAPiSON Jun-74 18 23,7?2 19 � 25,816
5 C STAUFFER * Dec-74 17 21,840 18 23,772
6 STRESB Feb-78 14 16,576 15 18,256
? AK�sR Apr-82 10 10,640 11 12,OI2
$ FIAfiG Apr-82 10 10,640 11 12,O12
9 RETS Apr-82 10 10,640 11 12,012
10 KORNOVICH Sep-82 9 9,324 10 10,640
1I R ANDBRSON Apr-83 9 9,324 10 10,640
12 CORRIGAN Apr-84 8 8,064 9 9,324
13 TABERY * Oct-85 6 �,740 ? 6,888
14 BURKHALTfiR Nav-85 6 5,740 7 6,888
1� fi�ENSON Apr-86 6 5,740 ? 6,888
16 GERRITS Jul-86 5 4,676 6 5,?40
17 PAULSON Jul-86 5 4,676 6 5,740
18 ZWAFiT Apr-87 5 4,676 6 5,?40
19 J ERIC&SON Oct-88 3 2,660 4 3,6�0
20 BAILEY Apr-89 3 2,660 4 3,640
21 SMITH Apr-89 3 2,660 4 3,640
22 D STAUFFER Apr-90 2 1,736 �3 2,660
23 TUCKfiR Apr-90 2 1,736 3 2,660
24 WIDSTROM Apr-90 2 1,736 3 2,660
25 MOONEY Aug-90 1 840 2 1,736
26 TRACHET Aug-90 1 840 2 1,736
2? FORD Jul-91 0 0 1 840
28 HELGESON Jul-91 0 0 1 840
29 LATZKE Jul-91 0 0 1 840
30 JOHNSON May-72 20 28,000 21 29,400
31 J STRESfi Nov-80 11 12,012 I2 13,468
32 HANVfiLT Oct-85 6 5,740 7 � 6,888
33 ADRIAN Apr-87 5 4,6?6 6 �,740
34 I�NNEY Jul-91 0 0 1 840
35 MATfiO Sep-89 2 1,736 3 2,66Q
�� SCOTT Oct-83 8 8,064 9 9,324
37 GLOR Apr-84 8 8,064 9 9,324
39 ODONNELL Apr-85 ? 6,888 8 $,fl64
40
41
43 JfiWALSH ZO X 1400 28,000 29,400
44
4b
4? J�ANDfiRSON 17,952 ' 17,9�2
48 M McDONOUGH 9,792 9,792
49 B SZCZENSNIAK $,400 8,400
50 J OXBOROUGH 8,4�0 $,400
ACCRUED I.IAB FOR ACTIVE [�s'NIDSRS 342,916 387,968
ACCRUED LIAB FOR DEFERRED MEMBfiRS 2$,000 29,400
ACCRUED LIAB FOR fiARLY VfiSTED MBRS 44,544 44,544
ACCRUED LIAB FOR UNPD INSTALLNIENTS
A) ACCRUfiD LIABILITY THROUGH 1992 461,912
B} ACCRUED L�ABILITY THROUGH 1991 415,460 415,460
C) L.A - L.B; NORM COST FOR 1992 46,452
SCHEDULfi II
� PROJECTION OF SPECIAL FUND ASSETS TO DECEMBfiR 31, 1991
ASSETS AT JANUARY 1, 19�1 ------------------------ 1. $ 284,686
EXPECTED INCOMfi TO DEC. 31, 1991
A State Aid $ 20,900
B Local taxes 32,802
C Interest, etc. 22,775
D Other'income 0
TOTAL OF LINES A-B-C-D--------------------------- 2. 76,477
_�_��
BEGINNING ASSfiTS PI.US EXPEGTED INCONIE------------- 3. 361,163
SXPfiCTfiD FXPBNSB TO DfiC. 31, 1991
E Pensions $ 50,160
' F Other benefits 0
G MSFDA ar VFBA dues 0
H Administrative 875
TOTAZ OF LIN!'sS E-F-G-H------------ ---- _— 4. 5Z,035
FROJECTfiD ASSETS AT DEC 31, 1991 (L3-L4) 5. $ 310,128
AVgRAGB SPfiCIAL FUND INCOME (non-investment} PER NSfiM$ER
FOR PREVIOUS THREfi YEAR PfiRIOD.
S TATfi LOCAZ 1 j 10 ANNtJAL 3 3tR
AID - TAXES SURPLUS TOTAL TOTAL
1990 20,900 25,165 46,06�
1989 19,575 16,906 36,481
1988 19,�17 13,41? 32,934 115480 .
3YR TOT/3/#MBR 3$;493 38 = $l,013 AVG PfiR i�ff3R
CERTTFICATION OF SPECIAL FUND REQUIREMENTS
This information must be certified to the governing body of the
municipality or independent non-profit firefighting corporation
by August l, 1991.
We, the officers of the Rosemount Firefighters' Relief
Association, state that the accompanying sehedules have been
prepared in accordance with the provisions of the Volunteer
Firefi ghters Relief Association Guidelines Act af 1971 (including
M.S. 69 772), and that the schedules are correct and complete
to the best of aur knowledge. The financial requirements of the
Relief Assaciation's Special Fund for 1992 (Line 11,
Schedule III), are $ 23,870
Check here if. no municipal suppart is required ��i
The average non-investment income of the special fund per member
for the past three years was $ I,013
' resident Date_���-�1�j
_ , Secretary Date�_�S��
� __ ___, Treasurer Date �"'�5 '�!'.z
-��
SCHEDULE III
COMPUTATION OF FINANCIAL REQUIREMENTS FOR 1992
COL A COL B COL C
=-------------------
1. ESTIMATED ASSETS•AT JAN. 1 1992 ---------- 310,128
2. ACCRUED LIABII,ITY @ DEC. 3� 1991 --------- 415,460 �
3. a) If L2 > L1, enter difference as DEFICIT --- 105,332�
b) If Ll > L2: enter difference as SURPLUS --
If surplus exists, enter 1/lOth of N 0
surplus amount in Gol C & go to L6 --
Amartization af deficit(s) incurred
prior to end of 1991
YR ORIGIN. AMT RET AMT LfiFT
INCUR. AMOt�JNT PR�V TO �3�IR£
1990 1�0,?88 2�,��8 96, 3�
}'9 96,630
4. TOT ORI6 DfiF I20,7$8 X .10 = 12,079
�. Deduct coI �3) total from L3(a}.
If col 3 < 3(a), difference is a $ 702
NEW DHFIGIT. (Enter in col A - ------- � 870
ENTER 1/10 OF NEW DSFICIT IN C0� B. ----- ---- 46,452
6. INCRfiASE FROM Line C SCHEDULE I -- - ---"~'-'- $75
7. EXPFCTFD ADMINISTRAT�VE fiXPENSE, 1992 -- -
8. ANTICIPATED TNCOt�fE, 1992 2p,900
a} Minnesota State Aid --------- ---- l� gfl6
� b) 5� Interest on amt. of Line 1 -------- �
c) other Income — —�-
TOTAL, Line $, a-b-c -----------______ 36,406
9. TOTAL, COLUNIlV B ---------------------- -------- 60,276
10 TOTAL, COLUMIN C ---------------------
----------------------- 36,406
11 IF LINE 9 IS MOAE THAN LINB 10, THE
DIFFERfiNCE IS THE AMOt3NT OF MUNICIPAL
SUPPORT REQUIRfiD IN 1992. CERTIFY _
THIS AMOUNT TO CITY GOUNCIL BEFORE 23,870
AUGUST 1, 1991. �------------ ----�-`------
12 IF LINE 10 IS MORE THAN LINE 9, NO
MUNICIPAL SUPPORT IS RE�UIRED. CERTIFY
THIS FACT TO CITY BEFOI3E AUGUST 1, 1991.
COUNCII. IS PERMITTfiD T4 PROVIDE
FUNDS IN fiXCESS OF REQUIREMENTS.
These Schedules were prepared
from information provided by.
Officers of the Relief Assoczation.
Prepared by:
Gus Welter, cansultant
1901 Meadawview Road
Bloomington, NII�1 5�425
(612) 854-8856
/ �j
� � ��
ROSEMOUNT J � ��
/
FIRSFIGHTERS' RELIEF ASSOCIATION C�, � � �
v �
Report of financial condition to end of 1992 �
and requirements for 1993 `,
. SCHfiDULfi I j � Y
CALCULATION OF SPECIAL FUND LIABILITY FOR ALL [�MBfiRS AT ��
PfiNSION LfiVfiL OF $1,400 PER YEAR OF ACTI� SERVICfi
ENTRY TO fiND OF 1992 TO BND OF 1993
NO NANIF DATB YRS LIAB YRS LIAB
------- -------------------------------------------------------------------------
----------------------------------------------------------------
1 McNfiARNFsY Oct-66 26 36,400 27 37,800
2 TURFK Oct-66 26 36,400 2'7 37,800
3 LUNDfiLL Oct-69 23 32,200 24 33,600
4 SWANSON Jun-74 19 25 816 20 28,000
5 . C STAUFFER * Dec-?4 18 23;772 19 25,816
� � 6 STRESB Feb-?8 15 1$,256 16 19,992
7 AKFR Ap�82 I1 12,012 12 13,468
8 HAEG Apr-82 I1 12,012 12 13,468
9 RfiIS Apr-82 11 12,012 12 13,468
10 IS�RNQVICH Sep-82 10 10,640 11 12,012
11 R ANDBRSON Apr-83 � 10 10,640 lI }?�,(�?�
�� ���� ���-� 7� �;��$� 18 8;064
I4 BURKHALTfiR Nov-85 7 6 888 $ 8 064
15 EVENSON Apr-86 ? 6,888 $ 8,064
16 GfiARITS Ju1-86 6 5,740 7 6,888
17 � PAULSON Ju1-86 6 5,740 7 6,888
18 ZWART Apr-$7 6 5,?40 7 6,888
19 J SRICKSON Oct-$8 4 3,640 � 4,676
20. BAILBY Apr-89 4 3,640 5 4,676
' 21 . SMITH Apr-89 � 4 : 3,640 5 ' 4,676
22 D' STAUFFER Apr-90 � 3 2,660 ' 4 3,640
23 TUCKfiR Apr-90 3 2,660 4 3,640
24 WIDSTROM Apr-9Q 3 2,660 4 3,640
25 MOONBY Aug-90 2 1,?36 3 2,660
26 TRACHET Aug-90 2 1,736 3 2,66�
2? FORD Jul-91 1 840 2 1,?36
28 HBLGBSON Jul-91 1 840 2 1,736
29 LATZKF Ju1-91 1 840 2 1,736
30 GARDINIfiR Jan-92 1 840 2 1,?36
32 SNYDER Jan-92 1 840 2 1,736
33
34
35
36
37 * = LOA OR
38 MEB I.EAVE
39
40
41
42 DfiF
4�3 J WALSH 20 X 1400 29,40Q . 30,870
45
4? J�ANDSRSON 44,�44 44,544
48 M McDONOUGH
49 B SZCZfiNSNIAK
50 J OXBOROUGH
ACCRUED LIAB FOR ACTZVfi NifiNIBfiRS 303,940 341,880
ACCRtIBD LIAB FOR DSFERRED h�MBfiRS 29,400 30,870
ACCRIIBD ZIAB FOR SARLY VfiSTfiD MBRS 44,544 44,544
ACCRUED LIAB FOR IINPD 2NSTALLMfiNTS
A) ACCRUfiD LIABILITY TKROUGA 1993 417,294
B} ACCRUfiD LIABILITY THROUGH 1992 377,884 3�7,884
C) I,.A - L.B; NORMAL COST FOR 1993 39,410
SCHEDULE II
PROJECTION OF SPECIAL FUND ASSfiTS TO DECfiMBER 31, 1992
ASSETS AT SAMJARY 1, 1992 --------------------------- 1. $ 326,744
EXPECTED INCOME TO DBC. 31, 1992
A State Aid $ 23,866
B Local taxes 23,870 -
C Interest, etc. 22,872
D Other incame 0
TOTAL OF LIN£S A-B-C-D------ ----- ------- 2. ?0,608
$EGINNING ASSSTS PLUS BXPgCTED INCOME--~------------ 3. 397,352
EKPBCTfiD �XPfiNSfi TO DEC. 31, 1992
fi Pensions $ 28,000
F Other benefits 0
. G MSFDA or VFBA dues 0
H Administrative 875 ,� � �
TOTAL OF LINfiS E-F-G-H ---- 4. 28,8'7�
FROJECTSD ASSfiTS AT DBC. 31, 1992 (L3-L4) 5. $ 368,477
AVBRAGB SPBCIAL FiJND INCfk� (non-investment) PfiR MFMBER
F�R PRfiVIOUS THRFsFs YtsAR PERIOD.
STATF LOCAL 1/10 ANN(JAL 3 YR
AiD TAXIIS SURPLUS TOTAL TUTAL
1991 23,866 32,802 56,668
1990 24,900 � 25,165 46�,065 �
, 1989 19,575 16,906_ - 36,481 , 139214
3YR TOT/3/�R 46,405 31 = $1,497 AVG FER hIDR
CERTIk'ICATION OF SPfiCIAL FUND RBQUIREMENTS
This information must be certified to the governing body of the
municipaZity or independent non-profit firefighting corporatian
by August 1, 1992.
We, the officers of the Rosemount Firefighters' Relief
Association, state that the accompanying schedules have been
prepared in accordance with the provisions of the Volunteer
Firefi ghters Relief Associatian Guidelines Act of 1971 (including �
M.S. 69 ??2}, and that the schedules are correct and complete
to the best of our knowle inancial requirements of the
Relief Association's S 'a Fund 993 (Line Z1,
Schedule III) , are 10,944
Check her 'f no munici upport is required ���
The average non-investment income of the special fund per member
for the past three years was $ 1,497
President Date����yJ�
' � �-- -- , Secretary Date�_/s_9,�j
t � Treasurer Date ` �1 '�Y
_ " J
J� __�__� �
SCHEDULE III
COMPUTATION OF FINANCIAL RfiQUIREMlENTS FOR 1993
COL A COL B COL �.
--------------------------------
I. SSTFMATED ASSETS AT JAN. 1 1993 ------- 368,477
� 2. ACCRITFsD LIABILITY @ DfiC. 3� 1992 - 377,884
3. a) If L2 > L1, enter difference as DBFICIT --- 9,407
b) If L1 > Z2: enter difference as SURPLUS — 0
If surplus exists, enter 1/lOth of
surplus amount in Col C & go to L6 �
Amortization of deficit(s) incurred
prior to end of 1992
YR ORIGIN. AMT RET AMT LfiFT
INCUR. AMOUNT PRfiV TO RFTIRB
199� 120�788 1192�13 1,575
1191 8,?Q2 870 ?,83�2
- 9,407
4. TOT ORTG D�FICIT 129,490 X .10 = - 12,949
5. Deduct col (3) total fram L3(a}.
If col 3 < L3(a}, difference is a
NBW DgFiCIT. (Enter in col A) - 0
fiNTfiR 1/10 OF NEW DEFICIT IN COL B. 0
6. INCRFASfi FROM Line C SCHEDULH I --- 39,410
?. fiXFBGTBD ADMINISTRAT�Vfi fiXPENS$, 1993 875
8. ANTICIPATED INCOMg's, 1993
' - a Minnesota State Aid . 23,866
b 5X Interest an amt. of Line 1 --------- 18,424
c other Income --
TAL, Line $, a-b-c --------------------- 42,290
9. TOTAL, COLTJA�I B -- �3,234
10 TOT9I., COLUNIN G ----------------------------------------------- 42,290
11 IF LINE 9 �S MOREs THAN LZNfi 10, TFiE
DIFFfiRENCfi IS THFi AMOUNT OF MUNICTPAL
SUPPORT RfiQUIRED IN 1993. CERTIFY
THIS AMOUNT TO CITY COUNCIL BSFORfi
AUGUST 1, 1992. -- -- ------- 10,944
12 IF LINF 10 IS MORg THAN LINE 9, NO
MUNICIPAL SUPPORT IS RfiQUIRED. CERTIFY
THIS FACT TO CITY BfiFORE AUGUST 1, 1992.
COUNCIL IS PfiHMITTfiD T0 PROVIDfi
FUNDS IN TsXCESS OF REQUIREMENTS. --------------------
These Schedules were prepared �
from information provided by
Officers of the Relief Association.
Calculated as 12/31/92
Prepared by:
Gus Welter, consultant
1901 Meadowview Road
Bloomington, MN �5425
(612) 8�4-88�6
?OSEMOUNT FIREFIGHTERS RELIEF ASSOCIATION PRINTED ON 4-Allg-92 PAGE 2 LJ� �
(.!/ t � `
�TATE FIRE AID FOR 1993 �� `
�PECIAL FUND REPORT FOR $2400 PER YEAR OF SERVICE
1992 ; 2993 ;
F.D. TO END OF THIS YEAR; TO END OF NEXT YEAR;
ENTRY YRS ACTIVE; ACCRUED ;YRS ACTIVE; ACCRUED ;
� NAME AGE DATE SERVICE ; LIAHILITY ; SER`TICE ; LIABILITY ;
1 2 3 � 4 ; 5 ; 6 ; 7 ; -'
� � � �
, � � �
1 MCNEARNEY ; 51 ; 10/18/6b ; 26 ; 36400 ; 27 ; 3'3800 ;
2 TUREK ; 49 ; 10/18/6b ; 26 ; 364�0 ; 27 ; 37800 ,
3 LLTNDELL ;46 ; 20J21/b9 ; . 23 ; 32200 ; 24 ; 33600 ;
4 SWANSON ;48 ; 6/17/74 ; Z9 ; 25816 ; 20 ; 28000 ;
5 STAUFFER C. ; 44 ; 12/17/74; 18 ; 23772 ; 19 ; 25816 ,
6 STRESE S. ;33 ; 2/28/78 ; Z5 ; 18256 ; 26 ; Z9942 ;
7 AKER ; 40 ; 4/27J82 ; 12 ; 12012 ; 12 ; 13468 ;
8 HAEG � ; 35 ; 4/27j82 ; 11 ; I2022 ; 12 ; 13468 ;
9 REIS ; 33 ; 4/27/82 ; 11 ; • 12012 ; Z2 ; 134�68 ;
30 KORNOVICH ; 39 ; 9/28/82 ; 10 ; 20640 ; Z1 ; 120I2 ;
12 ANDERSON RC; 42 , 4/26/$3 ; 1Q ; 1Ofi40 ; 11 ; 12012 ;
�2 CORRIGAN ;26�, ; 4/24/84 ; 4 � ; 9324 ; 10 ; ZQ640 ;
13 TABERY. ; 38 ; 1�/22/85; 7 ; b888 ; 8 ; 8D64 ;
14 HURKHALTER ; 27 ; 11/26/85, 7 ; 6888 ; 8 ; 80b4 ;
15 EVENSON ; 34 ; 4/22/86 ; 6 ; 5740 ; 7 ; 6888 ;
lb GERRITS ;24 ; 7/22/86 ; 6 ; 5740 ; 7 ; 6888 ;
17 PAULSON ; 37 ; 7/22/86 ; 6 ; 5�40 ; 7 ; 6$8$ ;
1$ ZWART ;35 � 4/28/8? � 6 i 5740 i 7 � 6888 �
19 ERICKSON ;34 ; 1�/25/88; 4 ; _ 3640 ; 5 ; � 4676 ;
�2� HAILEY ;22 ; 5/�J8�9 • ; � 4 ; •3640 ; - 5 ; 4676- ;
2Z SMITH ; 32 ; 5/2/89 ; 4 ; 3540 ; ' 5 ; 4676 ;
?2 STAUFFER D. ; 22 ; 4/24/90 ; 3----- ; 2bb0 ; 4 ; 3b40 ;
23 TUCKER ;25 ; 4J24/90 ; 3 ; 2660 ; 4 ; 364Q ; .
24 WIDSTROM ; 37 ; 4/24/90 ; 3 ; 2660 ; 4 ; 3640 ;
25 MOE}NEY ;28 ; 8/28j9� ; 2 ; 1736 ; 3 ; 2b60 ;
26 TRACHET , 37 ; 8/28/90 ; 2 , ].736 ; 3 ; 2b6Q ;
27 FDRD ; 30 ; 7/8/91 ; 2 ; 1736 ; 3 ; 2660 ;
?8 HELGESON ; 35 ; 7/8/9Z ; 2 ; Z73b ; 3 ; 2660 ;
29 HENNEY ; 27 ; 7/S/9� ; 2 ; 1736 ; 3 ; 2660 ;
30 LATZKE ; 27 ; 7/8/91 ; 2 ; 1736 ; 3 ; 2660 ;
31 GP_RDINIER ; 27 ; 7./22/9Z ; 1 ; 840 ; 2 ; 2736 ;
?2 SEILLER � 29 ; Z/22/92 ; 1 ; 840 ; 2 ; 1736 ;
33 SNYDER ; 23 ; ZJ22f92 ; I ; 840 ; 2 ; 1736 ;
3�
35
TOTAL # OF MEMBERS
33 3D8f�56 � 347872
JEFER.RED PENSZONS, (INTEREST-COLUMN 7) 29400 3087�
�OTAL �F UNPAID INSTALLMENTS, (INTEREST � 0
T'OTAL OF EARLY VESTED PENSIONS 44544 44544
A. TOTAL ACCRUED LIAHILZTY TO END OF NEXT YR. Z993 (COLUMN 7) 4232$6
3. TOTAL ACCRUED LIABILTY TO END OF THI 382000 3$2000
... SUBTRACT LINE B. FR�M LINE A. (NORMAL CQST; ENTER HERE AND 4228b
:OSEMQUNT FIREFIGHTERS REI�IEF ASSOCIATION PRINTED ON 4-Aug-92 PAGE Z
3CHEDULE II
Z , ASSESTS AT JANUARY Z, 1992 (THIS YEAR) 326744
?. ANTICIPATED INCOME TO END OF THIS YEAR
a) MINNESOTA STATE AID 25059
b) RECEIPTS FROM LOCAL TAXES 32802
c) INTEREST ON INVESTMENTS 2267�
d} OTHER INCOME p
�iOTAL OF LINES a-b-c-d 8053$
3_ BEGINNING ASSESTS PLUS ESTIMATED INCOME {1+2) 4Q7282
4. ESTIMATED DISBURSEMENTS THROUGH END OF THIS YEAR
a) PENSIONS • 28000
b) OTHER BENEFITS p . �
c} MSFDA OR VFBA DUES, IF ANY p
d} ADMINISTRATIVE AND OVERHEAD 875
TOTAL OF LINES a-b-c-d 2$8�5
5. PROJECTED ASSETS AT EAID OF THIS YEAR (I2/31/92 378407
6. CALCULATION OF AVERAGE SPECIAL FUND INCOME PER MEMBER
STATE CITY SURPLUS
AID AID
Z992�• � 21945 �32802 p . .
1990 21578 1b906 p �
].989 I9575 9240 p
TOTALS 63098 S8948 p
TOTAL OF ALL THREE Z22Q4�
DIVIDE BY 3 EQUALS 40682
DIT7'IDE BY # OF MEMBERS , AVERAGE AMpUNT PER MEM 1233
. � . t�"�� ..
?OSEMOUNT FZREFIGHTERS RELIEF ASSOCIATION PRINTED ON 4-Aug-92 PAGE 3
3CHEDULE III COLUMN A ; C�LUMN B ; COLUMN C
� �
� ,
1 . ASSESTS FR�M LINE 5, SCHEDULE II 378407 ; ;
� ,
� ,
Z. ACCRUED LIAHILImY TO END OF TIiIS YEAR (B. SCH 382000 ; ;
� ,
� �
3. a) IF LINE 2 IS MORE THAN LINE ]. {DEFICIT) -3593 ; ; - .
b. ) IF LINE 1 IS M�RE THAN LINE 2 (SURPLUS) 0 ; ;
�NTER 10$ OF SURPLUS AMOUNT � � p
� �
� �
�. AMORTIZATION OF DEFICIT PRIOR TO END OF LAST YEAR ; ;
YEAR ORGINAL RETIRED LEFT TU ; ;
INCURRED AMOUNT AMOUNT RETIRE ; �
1986 8675� b0725 26025 ; ;
Y988 37038 18529 185Z9 ; ,
1990 220788 3b236 84552 ; ;
TQTALS 24457b 115480 129096 � .; ;
Z0$ OF ORGINAL AM�UNTS ; 24458 ;
� ,
� ,
�. NEW DEFICIT p � �
10$ OF NEW DEFICIT � p �
� ,
ci, INCREASE FROM LINE C, SCHEDULE I ; 41286 ;
� �
7. ESTIMATED EXPENSES FOR Z993 {OTHER THAN PENSIONS) ; $75 ;
� �
� ,
8. ESTIMATED INCOME FOR �993 ; � '
a) MZNNESOTA -STATE AZD . � 263�2 � + '
, . ,
b) 5°s� INTEREST ON AMOUNT OF LII�iE 2, � 18920 ; ;
c) OTHER INCOME, DO NOT INCLUDE CITY 0 ; ;
TOTAL OF a-b-c � � 45232
, �
9. TOTAL OF COLUMN B. ; 5b519 ;
� ,
� �
10. TOTAL �F COLUMN C. ; ' 45232
11 . IF LINE 9 IS MORE THAN 10 = CITY SUPPORT ; 213$6 ;
LIST OF EARLY VESTED
J. ANDERSON 17952
M. McDONOUGH 9792
B. SZCZENSNIAK 8400
J. OXBOROUGH $400
TOTAL EARLY VESTED 44544 �
LIST OF DEFFERED. PENSIONS INTEREST TOTAL Z993
J. WALSH 29400 1470 30870