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CITY OF ROSEVILLE
<br />NOTES TO FINANCIAL STATEMENTS
<br />DECEMBER 31, 2005
<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 policy (Continued)
<br />The Roseville Firefighters' Relief Association is comprised of volunteers, therefore, there are no
<br />payroll expenditures, nor covered payroll expenditure calculations.
<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 />71
<br />$ 311,749
<br />(15,581)
<br />35,157
<br />331,325
<br />(348,670)
<br />(17,345)
<br />(311,610)
<br />$ (328,955)
<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 (APC)
<br />Contributed
<br />Obligation
<br />2000
<br />$ 132,626
<br />$ 10000
<br />$ 232,626 $
<br />97,826
<br />237.8%
<br />$(212,611)
<br />2001
<br />134,220
<br />10000
<br />234,220
<br />213,019
<br />110.0%
<br />(231,812)
<br />2002
<br />152,658
<br />179,295
<br />331,953
<br />351,364
<br />94.5%
<br />(210,789)
<br />2003
<br />186,223
<br />298,670
<br />484,893
<br />484,467
<br />100.1%
<br />(211,215)
<br />2004
<br />238J02
<br />210,568
<br />448,670
<br />348,275
<br />128.8%
<br />(311,610)
<br />2005
<br />22703
<br />121,587
<br />348,670
<br />331,325
<br />105.2%
<br />(328,955)
<br />The Roseville Firefighters' Relief Association is comprised of volunteers, therefore, there are no
<br />payroll expenditures, nor covered payroll expenditure calculations.
<br />D. Annual pension cost and net pension obligation
<br />The annual pension cost and net pension obligation for the current year were as follows:
<br />Annual required contribution
<br />Interest on net pension obligation
<br />Adjustment to annual required contribution
<br />Annual pension cost
<br />Contributions made
<br />Increase (decrease) in net pension obligation
<br />Negative net pension obligation beginning of year
<br />Negative net pension obligation end of year
<br />71
<br />$ 311,749
<br />(15,581)
<br />35,157
<br />331,325
<br />(348,670)
<br />(17,345)
<br />(311,610)
<br />$ (328,955)
<br />
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