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CITY OF ROSEVILLE NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2012 NOTE 5 -OTHER INFORMATION (Continued) D. Employee retirement systems and pension plans (Continued) 3. Single employer defined benefit pension plan — volunteer fire relief association (Continued) b. Fundin policy Minnesota Statutes Chapter 424A sets out the employer requirements for contributions. The annual employer contribution level for any given year is a combination of the normal cost for that year and an amount to reduce the unfunded actuarial liability. The minimum obligation is the normal cost plus the amount needed to amortize fully the unfunded liability. The City funding requirements equal the minimum obligation less the Minnesota State fire aid. Under state statutes, if the City fails to provide the required funding, the Association may submit a levy to the county auditor in an amount equal to the city requirement, to be levied on all property within the city. A six year schedule of contributions follows: The Minnesota State Aid contribution to the Roseville Firefighter's relief association is recorded as a revenue and expenditure in the General fund of the City. The City's contribution to the Roseville Firefighter's relief association is also recorded as an expenditure in the General fund of the City. The Roseville Firefighter's relief association is comprised of volunteers who are considered non - benefit earning employees of the City of Roseville. Therefore, the City has no on- behalf payments of fringe benefits and salaries. T Schedule of Contributions Six Year Period Minnesota City Annual Percentage Net State Aid of Roseville Total Pension of APC Pension Year Contributions Contributions Contributions Cost (APC) Contributed Obligation 2007 $ 200,220 $ 49,780 $ 25000 $ 292,818 85.4% $(346,242) 2008 171,025 128,975 30000 13808 216.3% (507,554) 2009 143,353 63,875 207,228 539,171 38.4% (178,263) 2010 14802 216,500 364,502 365,932 99.6% (176,833) 2011 145,733 166,284 312,017 326,076 95.7% (162,774) 2012 147,754 205,63 0 3 53,3 84 312,995 112.9% (203J63) The Minnesota State Aid contribution to the Roseville Firefighter's relief association is recorded as a revenue and expenditure in the General fund of the City. The City's contribution to the Roseville Firefighter's relief association is also recorded as an expenditure in the General fund of the City. The Roseville Firefighter's relief association is comprised of volunteers who are considered non - benefit earning employees of the City of Roseville. Therefore, the City has no on- behalf payments of fringe benefits and salaries. T