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CITY OF ROSEVILLE
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2010
<br />NOTE 6 - INVESTMENT TRUST (Continued)
<br />COMBINING STATEMENT OF CHANGES IN NET ASSETS
<br />For the Year Ended December 31, 2010
<br />Net assets - ending $ 38,131,580 $ 1,309,807 $ 39441,387
<br />NOTE 7 — OTHER POST - EMPLOYMENT BENEFITS
<br />A. Plan Description
<br />In addition to providing the pension benefits described in Note 5, the City provides post- employment health care
<br />benefits (as defined in paragraph B) for retired employees and police and firefighters disabled in the line of duty,
<br />through a single- employer defined benefit plan. The term Plan refers to the City's requirement by State Statute to
<br />provide retirees with access to health insurance. The OPEB plan is administered by the City. The authority to
<br />provide these benefits is established in Minnesota Statutes Sections 471.61 Subd. 2a, and 299A.465. The benefits,
<br />benefit levels, employee contributions and employer contributions are governed by the City and can be amended
<br />by the City through its personnel manual and collective bargaining agreements with employee groups. The Plan is
<br />not accounted for as a trust fund, as an irrevocable trust has not been established to account for the plan. The Plan
<br />does not issue a separate financial report.
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<br />Internal
<br />External
<br />Investment
<br />Inve stment
<br />Pool
<br />Pool
<br />City of
<br />North Suburban
<br />Roseville
<br />Cable Commission
<br />Total
<br />ADDITIONS
<br />Interest
<br />$ 1,519,320
<br />$ 43,042
<br />$ 1,562,362
<br />Purchase of units for participant
<br />63,178,672
<br />96422
<br />63,275, 094
<br />Total Additions
<br />64,697,992
<br />139464
<br />64,837,456
<br />DEDUCTIONS
<br />Net cash basis for non - investing transactions
<br />69,39609
<br />0
<br />69,39609
<br />Distributions to participant
<br />0
<br />449,178
<br />449,178
<br />Total Deductions
<br />69,39609
<br />449,178
<br />69,845,267
<br />Change in net assets
<br />(4,698,097)
<br />(309,714)
<br />(5,007, 811)
<br />Net assets - beginning
<br />42,829,677
<br />1,619,521
<br />44,449,198
<br />Net assets - ending $ 38,131,580 $ 1,309,807 $ 39441,387
<br />NOTE 7 — OTHER POST - EMPLOYMENT BENEFITS
<br />A. Plan Description
<br />In addition to providing the pension benefits described in Note 5, the City provides post- employment health care
<br />benefits (as defined in paragraph B) for retired employees and police and firefighters disabled in the line of duty,
<br />through a single- employer defined benefit plan. The term Plan refers to the City's requirement by State Statute to
<br />provide retirees with access to health insurance. The OPEB plan is administered by the City. The authority to
<br />provide these benefits is established in Minnesota Statutes Sections 471.61 Subd. 2a, and 299A.465. The benefits,
<br />benefit levels, employee contributions and employer contributions are governed by the City and can be amended
<br />by the City through its personnel manual and collective bargaining agreements with employee groups. The Plan is
<br />not accounted for as a trust fund, as an irrevocable trust has not been established to account for the plan. The Plan
<br />does not issue a separate financial report.
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