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CITY OF ROSEVILLE
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2009
<br />NOTE 6 - INVESTMENT TRUST (Continued)
<br />COMBINING STATEMENT OF CHANGES IN NET ASSETS
<br />For the Year Ended December 31, 2009
<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
<br />health care benefits (as defined in paragraph B) for retired employees and police and firefighters disabled
<br />in the line of duty, through a single - employer defined benefit plan. The term Plan refers to the City's
<br />requirement by State Statute to provide retirees with access to health insurance. The OPEB plan is
<br />administered by the City. The authority to provide these benefits is established in Minnesota Statutes
<br />Sections 471.61 Subd. 2a, and 299A.465. The benefits, benefit levels, employee contributions and
<br />employer contributions are governed by the City and can be amended by the City through its personnel
<br />manual and collective bargaining agreements with employee groups. The Plan is not accounted for as a
<br />trust fund, as an irrevocable trust has not been established to account for the plan. The Plan does not
<br />issue a separate financial report.
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<br />In ternal
<br />Ex ternal
<br />Investment
<br />Investment
<br />Pool
<br />Pool
<br />City of
<br />North Suburban
<br />Roseville
<br />Cable Commission
<br />Total
<br />ADDITIONS
<br />Interest
<br />$ 1,068,419
<br />$ 43,890
<br />$ 1,112,309
<br />Purchase of units for participant
<br />73,271,398
<br />725,474
<br />73,996,872
<br />Total Additions
<br />74,339,817
<br />76 9, 364
<br />7 5,109,181
<br />DEDUCTIONS
<br />Net cash basis for non - investing transactions
<br />77,990,381
<br />0
<br />77,990,381
<br />Distributions to participant
<br />0
<br />525,178
<br />525,178
<br />Total Deductions
<br />77,990,381
<br />525,178
<br />7 8,515,559
<br />Change in net assets
<br />(3,650,564)
<br />244,186
<br />(3,406,378)
<br />Net assets - beginning
<br />46480,241
<br />1,375,335
<br />47,855,576
<br />Net assets - ending
<br />$ 42,8 29,677
<br />$ 1,619,521
<br />$ 44,449,198
<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
<br />health care benefits (as defined in paragraph B) for retired employees and police and firefighters disabled
<br />in the line of duty, through a single - employer defined benefit plan. The term Plan refers to the City's
<br />requirement by State Statute to provide retirees with access to health insurance. The OPEB plan is
<br />administered by the City. The authority to provide these benefits is established in Minnesota Statutes
<br />Sections 471.61 Subd. 2a, and 299A.465. The benefits, benefit levels, employee contributions and
<br />employer contributions are governed by the City and can be amended by the City through its personnel
<br />manual and collective bargaining agreements with employee groups. The Plan is not accounted for as a
<br />trust fund, as an irrevocable trust has not been established to account for the plan. The Plan does not
<br />issue a separate financial report.
<br />74
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