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<br />8uuwULB A. <br /> <br />City of Rosevi11e Pa~t AgreØII8Dt <br />with <br />Rosevi11e Pire Re1ief <br />As sociatian <br /> <br />December 23, 1993 <br /> <br />Points of Agre.....t <br /> <br />Staff and the Roseville Fire Relief Association (Association) <br />have been working with the State Auditor's office during past <br />several months in their review of the annual Association Reports. <br />It has been determined by the State Auditor that additional City <br />contributions need to be made to the Association's Plan. <br /> <br />Those findings were made on the review of the Association's <br />actual expenses, and the preliminary actuarial information. <br /> <br />It has been mutually agreed that the contributions will be made <br />by the City in accordance to the schedule set out, and the Asso- <br />ciation will comply with other specified provisions. <br /> <br />Below are the points of agreement and the contribution payment <br />schedule: <br /> <br />1. The Association will provide a new actuarial report to the <br />City. <br /> <br />2. The Association will provide the weighted-returns for <br />1992-1993 within the time frame indicated to the State. <br /> <br />3. The State Auditor has indicated additional funds are <br />required from the City to the Association. <br /> <br />4. Current requirements for 1992, 1993, 1994 are $25,599, <br />$98,867 and $175,181 respectively. The present total owed <br />is $299,647 and the City will amortize the amount as fol- <br />lows: <br /> <br />1994- $116,000 <br />1995- $ 91,823.50 plus the amount actuarially determined due <br />for 1995. <br />1996- $ 91,823.50 plus the amount actuarially determined due <br />for 1996. <br /> <br />Interest will be paid at the 5% per annum <br /> <br />Page 1 of 2 <br />