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City of Roseville, MinnesotaSchedule 10
<br />REQUIRED SUPPLEMENATRY INFORMATION(Page 1 of 1)
<br />SCHEDULE OF CHANGES IN NET PENSION LIABILITY
<br />AND RELATED RATIOS - FIRE RELIEF ASSOCIATION
<br />For the Fiscal Year Ended December 31, 2023
<br />20232022202120202019
<br />Total Pension Liability (TPL, actuarial accrued liability)
<br />Service cost$ 19,131$ 23,829$ 26,622$ 25,957$ 35,904
<br />Interest 599,189 563,444 563,110 565,282 552,707
<br />Differences between expected and actual experience 57,073 110,275 (61,093) 125,568 5,906
<br />Changes of assumptions (851,626) 14,290 186,143 382,673 (8,425)
<br />Changes of benefit terms 291,640 813,363 537,679 265,019 299,036
<br />Benefit payments, including member contributions (867,484) (982,017) (755,377) (704,524) (673,245)
<br /> Net change in total pension liability (752,077) 543,184 497,084 659,975 211,883
<br />Total Pension Liability - beginning of year 10,401,098 9,857,914 9,360,830 8,700,855 8,488,972
<br />Total Pension Liability - end of year$ 9,649,021$ 10,401,098$ 9,857,914$ 9,360,830$ 8,700,855
<br />Plan Fiduciary Net Position (FNP, assets)
<br />Contributions - State and local$ 48,725$ 48,815$ 264,259$ 250,948$ 238,755
<br /> - - - - -
<br />
<br />Contributions - donations and other income
<br />Contributions - members - - - - -
<br />
<br />Net investment income 2,650,695 (3,060,562) 2,566,985 2,410,051 2,626,352
<br /> - - - - -
<br />
<br />Other additions (e.g. receivables)
<br />Benefit payments, including member contributions (982,017)(867,484) (755,377) (704,524) (673,245)
<br />Administrative expense(28,254) (31,353) (30,056) (22,314) (25,433)
<br /> - - - - -
<br />
<br />Other deductions (e.g. payables)
<br /> Net change in plan fiduciary net position 1,803,682 (4,025,117) 2,045,811 1,934,161 2,166,429
<br />Plan Fiduciary Net Position - beginning of year 12,870,933 16,896,050 14,850,239 12,916,078 10,749,649
<br />Plan Fiduciary Net Position - end of year$ 14,674,615$ 12,870,933$ 16,896,050$ 14,850,239$ 12,916,078
<br />Net Pension Liability (NPL) - end of year
<br />$ (2,469,835)(5,025,594)$ (7,038,136)$ (5,489,409)$ (4,215,223)$
<br />Plan Fiduciary Net Position (FNP, assets)152.08%123.75%171.40%158.64%148.45%
<br />20182017201620152014
<br />Total Pension Liability (TPL, actuarial accrued liability)
<br />Service cost$ 45,257$ 48,898$ 85,623$ 69,632$ 67,768
<br />Interest 579,955 517,780 525,989 509,635 508,985
<br /> - -
<br />Differences between expected and actual experience (16,259) 138,754 (389,429)
<br /> -
<br />Changes of assumptions 533,565 111,219 (492,447) 213,856
<br /> - - - -
<br />Changes of benefit terms 653,842
<br />Benefit payments, including member contributions (593,632)(682,053) (569,784) (563,896) (574,072)
<br /> Net change in total pension liability460,465 876,861 (840,048) 229,227 2,681
<br />Total Pension Liability - beginning of year8,028,507 7,151,646 7,991,694 7,762,467 7,759,786
<br />Total Pension Liability - end of year8,488,972$ 8,028,507$ 7,151,646$ 7,991,694$ 7,762,467$
<br />Plan Fiduciary Net Position (FNP, assets)
<br />Contributions - State and local$ 229,050$ 222,882$ 221,324$ 220,012$ 341,617
<br /> - - - - -
<br />
<br />Contributions - donations and other income
<br /> - - - - -
<br />
<br />Contributions - members
<br />Net investment income (454,151) 1,775,014 846,802 22,193 882,050
<br /> - - - - -
<br />
<br />Other additions (e.g. receivables)
<br />Benefit payments, including member contributions (593,632)(682,053) (569,784) (563,896) (574,072)
<br />Administrative expense(24,694) (24,935) (25,100) (20,569) (23,479)
<br /> - - - - -
<br />
<br />Other deductions (e.g. payables)
<br /> Net change in plan fiduciary net position (931,848) 1,379,329 473,242 (342,260) 626,116
<br />Plan Fiduciary Net Position - beginning of year 11,681,497 10,302,168 9,828,926 10,171,186 9,545,070
<br />Plan Fiduciary Net Position - end of year$ 10,749,649$ 11,681,497$ 10,302,168$ 9,828,926$ 10,171,186
<br />Net Pension Liability (NPL) - end of year
<br />$ (3,652,990)(2,260,677)$ (3,150,522)$ (1,837,232)$ (2,408,719)$
<br />Plan Fiduciary Net Position (FNP, assets)145.50%145.50%144.05%122.99%131.03%
<br />The City implemented the Provisions of Governmental Accounting Standards Board Statement No. 68 for the year ended December 31, 2015. The schedules within
<br />the Required Supplementary Information Section required a ten year presentation, but does not require retroactive reporting. Information prior to 2014 is not available.
<br />*No assets are accumulated in a trust that meets the criteria in paragraph 4 of GASB Statement 75 to pay related benefits.
<br />The notes to the required supplementary information are an integral part of this statement.
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