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CITY OF ROSEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 318 2006 <br />NOTE 5 -OTHER INFORMATION (Continued) <br />C. Employee retirement systems and pension plans (Continued) <br />3. Single employer defined benefit pension plan — volunteer fire relief association (Continued) <br />b. Funding�olicX (Continued) <br />The City's contributions to the Roseville Firefighter's relief association is recorded as a pension <br />expense in the General fund of the city. The Roseville Firefighter's relief association is <br />comprised of volunteers who are not considered employees of the City of Roseville. As a result, <br />the city does not have any salary or fringe benefit expense related to Roseville Firefighter's relief <br />association. <br />D. Annual pension cost and net pension obligation <br />The annual pension cost and net pension obligation for the current year were as follows: <br />Annual required contribution <br />Interest on net pension obligation <br />Adjustment to annual required contribution <br />Annual pension cost <br />Contributions made <br />Increase (decrease) in net pension obligation <br />Negative net pension obligation beginning of year <br />Negative net pension obligation end of year <br />72 <br />$ 265,246 <br />(16,448) <br />37,114 <br />285,912 <br />(348,670) <br />(62,758) <br />(328,95_51_ <br />$ <br />(391-57131 <br />Schedule of Contributions <br />Six Year period <br />Minnesota <br />City <br />Annual <br />Percentage <br />Net <br />State Aid <br />of Roseville <br />Total <br />Pension <br />of APC <br />Pension <br />Year <br />Contributions <br />Contributions <br />Contributions <br />Cost (APQ <br />Contributed <br />Obligation <br />2001 <br />$ 134,220 <br />$ 1 0000 <br />$ 234,220 <br />213,019 <br />110.0% <br />$(231,812) <br />2002 <br />152,658 <br />179,295 <br />331,953 <br />351,364 <br />94.5% <br />(210,789) <br />2003 <br />186,223 <br />2988670 <br />484,893 <br />484,467 <br />100.1% <br />(211,215) <br />2004 <br />238,102 <br />210,568 <br />448,670 <br />3481275 <br />128.8% <br />(311,610) <br />2005 <br />227,083 <br />1215587 <br />348,670 <br />3318325 <br />105.2% <br />(328,955) <br />2006 <br />234,587 <br />1148083 <br />3488670 <br />2858912 <br />122.0% <br />(391,713) <br />The City's contributions to the Roseville Firefighter's relief association is recorded as a pension <br />expense in the General fund of the city. The Roseville Firefighter's relief association is <br />comprised of volunteers who are not considered employees of the City of Roseville. As a result, <br />the city does not have any salary or fringe benefit expense related to Roseville Firefighter's relief <br />association. <br />D. Annual pension cost and net pension obligation <br />The annual pension cost and net pension obligation for the current year were as follows: <br />Annual required contribution <br />Interest on net pension obligation <br />Adjustment to annual required contribution <br />Annual pension cost <br />Contributions made <br />Increase (decrease) in net pension obligation <br />Negative net pension obligation beginning of year <br />Negative net pension obligation end of year <br />72 <br />$ 265,246 <br />(16,448) <br />37,114 <br />285,912 <br />(348,670) <br />(62,758) <br />(328,95_51_ <br />$ <br />(391-57131 <br />