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CItY OF ROSEVILLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS - (CONTINUED) <br />DECEM9ER 31 7987 <br />Note 13 - Oefined Benefit Pension PLan - VoWnteer Fire Relief <br />Association (Continued) <br />Significant actuariat assumptions used to compute pension contrihution requirements are su6stantiaLLy the <br />same as those used to determine the standardized measure ot the pension obtigation. <br />The computation of the pension contribution requiremen[s for 1987 was 6ased on the same actuarial <br />assumptions, benefit provision, actuarial fund5ng method, and other significant factors used to determine <br />pension contri6ution requirements in previous years. <br />Ten Year Historical Trend Information (Unaudited) <br />Ten-year historicat trend information retated to the pension plan is presented in the relief associations <br />annual financiaL report. The information is presented to enable the reader to assess the progress made <br />hy the RoseviLLe fire Fighter's Relief Association in accumulating sufficient assets to pay pension <br />benefits as they become due. <br />Related Party Investments - During 1987 and as of December 31, 1987, the Association held no securities <br />issued 6y the City or other related parties. <br />Note 14 - Claims Workers' Com ensation Setf-insurance Fund <br />A tiability of 8420,000 was incurred, as set by State statute, for the death of a City poLice officer in <br />7982. The City is seLf-insured and was responsi6�e for the 8�20,000 of this tiahiLity. The Workers' <br />Compensation Reinsuranre Association, a nonprofit organization esta6lished hy State sTatute is <br />responsibLe for the remaining 6atance of the total Liabitity. The City's lia6itity on December 37, 1987 <br />was 538,796. <br />Note 15 - Interfund Pa a6Les and Receivables <br />There were no interfund receivabtes or payabLes as of December 31, 1987. <br />Note 16 - Reserved and Desiqnated Fund Eauitv/Fund 8atances <br />On Decemher 31, 1987, the City had reserved and designa[ed portions of the tund equity or fund balance <br />through Legal restrictions and City CounciL action. Following is a summary of these reservations and <br />designations: <br />Generat Fund <br />Designated for Employee Wetlness Program <br />Designated for working capitat <br />�esignated for revenue variations <br />Designaied for Civil Oefense Improvements and Old City <br />Hall Improvements <br />�esignated for vacation pay and <br />compensatory time off <br />Designated for encumbrances <br />Total <br />-47- <br />Reserved Desiqnated <br />S 5,444 <br />� 1,900,000 <br />800,000 <br />16,860 <br />- 285,827 '— <br />170,700 <br />S 3,178.231 <br />