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CIT� Of ROSEVILIE. MIMNESOTA <br />�. .� . NOTES TO FIXANCIAL STAIEMENT, fCONT[NUED) <br />�� � 4ECEMBER 37. 7991 <br />Note 16 - Risk Maraaement Ftrd <br />Tbe City e�t�blishad in 1987, s Risk M�nepanent ftnd (an [ntern�l Servie� f�rd) to aceount for sett-insure�ce <br />eover�9�• ����� this proyr�, the City is ulf•frourW �p to � irxiinan of SS0,000 dedutible on 9a+eral <br />li�bility.�and.property deMps with � erxinue of f100,000 per arrKm. Claims in exeess of these amounts are <br />fulty;inwred Shrouph the Leepue of Mimesots Citin Irour�nee Trust. Fvd revenues �re pri�arily property <br />Ux�tevies,�prawiu�.reGtq snd incerest e�rninpa, and �rs pluned to meteh expenses of insurarxe premiuns <br />for �overape in.exeess of self-insured emants, ctafn resuttinp from the seLf•insuronce progrem, and <br />opersLinp expanses. <br />A provision.is msde for elainr incu�red but not �eported. (I.B.N.R.> The prwision is besed on the estimated <br />ultinrte eost.of settlament, wirg p�st expe�iance adjustcd fo� current trerda. <br />Note�i� - Deferred Conoensetion Plen <br />The��City otHn ��.it� aiQloyees a d�ferrW eo�pensation ptan �sablished in aeco�daK� vith feternal Revenue <br />Code:Seetian 457.���.�Jhe plen, �vaileble to all aiployeea, permits thee to defer a portim of thei� salary <br />�ntil:future yean. The def�rrcd eanpens�tion is not w�ftabl� to anployees �ntil termirntim, retireuknt <br />de�tA�or tnforeaeeeble emerpmcy. � <br />Att rrov�ta of co�ensation deferrcd vder the plan, •lt property xd riphts property purchased with those <br />amo�nts, and �tl incaae ettributable to thne emants, or riphts sra (�ntil psid or mede evaileble to the <br />enployee o��other benefiei�ry) soUly the property end riphts of the City, subjeet only to the elai� of <br />tbe City�s generol c�ed3tors. Gartieipents' riphts �ader the plen are cqwt to those of the City in an <br />emount eqwl�to the fair �rrket value of the deferrcd xeanL for a�eA perticipent. Vtan assecs of <br />f982,893 st:Deeember 31, 1997 an shown in the finenti�t ststemmt es a"Deposits with Trustees" in the <br />apeney fvda vith a correapondinp eredit to deposits p�yable. <br />It is��the opinion of the City�s lepel canset that the City h�a no liebility for tosses vder the pten but daes <br />heve �the duty of .due nre ibat ould be required of en ordinary prudent imestor. The City lxlieves that St <br />is vflikety:that.it uill use the sssets to satisfy ths claims of ymeral ereditors in the future. <br />The City of:Rosevitle is the dninisterinp authority for the followirq tex increment fironce district. <br />Neme�of District: ��Iknieipal Developmeet District <br />Type�Af Distriet:.'Redevelapment <br />Authoriiinp�Stetue: �672A <br />. Year.��Establfshed: �� 1982 <br />Durstion of Distriet: �25 t'ears <br />Oripin�l Grosa�Tuc.Capacity S 5,626,664 total Bords Issued snd Type <br />Currant Grosa Tea C�eity: f12,470,949 Gener�l Obtiy�tim t22,720,000 <br />� Tout Lwns ircurrcd •0- <br />. C�ptured Gross.7�a Lspecity: 27,OL4,285 <br />Rebined by Authority � 37,OK,285 Anantt rWeemed , S 1,190,000 <br />Shercd rith other�t�airp Outftendinp bads erd loans et <br />Oistr.ieu � .� •0• 72/31/91 f21,530,000 <br />53 <br />