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19 <br />ffl�; August 41, 198 8 <br />9 <br />To'411 jim A,nd,r,e <br />City Manager <br />Friom.: <br />• Burrell <br />Finance Director <br />Re, F31mrie Rel ief Budget Request <br />C -+ <br />',have reviewed the situationregarding the Fire Relief request <br />0 <br />R�n,d, have dete=inield the following facts. <br />In August of, 1986, the Roseville Relief Association <br />11 <br />diad appear before the Counc,il and requested <br />permission to increase beniefilits from $11 level to <br />the $15 lievel, <br />The last contributions of tax, dollars were in 1980 <br />a,nid 1981., Those amounts were $7,000 and $4,973 <br />respectively.1 <br />0 <br />Earlier cli itJLng of Statute wasi given as 69,772, <br />however, that, has been corrected, to 69,773, <br />416 The requests, have been based on a concept of <br />"minimum. funding to prevent increase in defl'cl*t,,, <br />However,, the Association's Actuax-y poi'nts out that <br />a M <br />the "minimum payment to pr event increase in <br />deficit," was, informational only and would not be <br />41 <br />Sufficient to satisfy state fund,3-ng requirementst <br />The actuarial report completed, as of january 1, <br />1 <br />1986 doiesi use a 5% interest factor as required by <br />I <br />State Code 3,5�6.215 Sec. I subsection 4d. <br />I <br />Pen,sii,oin, assets have increased from $lr758,,746 in <br />198,6 to $1191011f997 in 1987 or at a compounded <br />annual rate of <br />