Fort Walton Beach Council agenda — 03-19-12--special--audit — reading text

696716 1. 263. 540 874. 895 Annual Pension cost 784. 705 1. 306. 268 968. 003 Contribution made 87. 989 41738 93 108 Change in net pension asset 175 351 7011R1 36 - 146 Net pension asset - beginning of ycxr 129. 254 263340 112, 809 S Net pension asset - end of tear Beginning Beginning 9/9/ 302012,302012, thisthis includesincludes bothboth CityCity andand StateState contributionscontributions 5656  3. 1. 4 City of Fort Walton Beach, Florida NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE 7 - DEFINED BENEFIT PENSION PLANS ( CONTINUED) C. Contributions, Funding Policy and Annual Pension Cost (Continued) The funded status of each plan as of September 30, 2011 the most recent actuarial valuation date, is as follows: Actuarial Annual Accrued Liability Actuarial Value AAL ) Entp Age Unfunded AAL 1( 1 Rahoaa'b orousi UAAL Pa, of Assets ( al Ib1 I 8, 503, 500 P4,542. 537 18720' 40 PORE FORT 32. 776. 563 19379, 668 41, 280. 063 25] 55. 221 7. 375553 71. 36 % 79.40% 2. 178. 847 339 51 370. 45 ° o 7, 211 967 60. 24 % 1 946 811 10. 927529 18. 139. 496 FRF BEBE RequiredRequired SupplementarySupplementary informationinformation TheThe schedule schedule ofof fundingfunding progressprogress immediatelyimmediately fol owingfol owing thethe notesnotes toto thethe financialfinancial statementsstatements presentspresents multimul- ti - yearyear trendtrend informationinformation aboutabout whetherwhether thethe actuarialactuarial valuevalue ofof planplan assetsassets isis increasingincreasing oror decreasingdecreasing overover timetime relativerelative toto thethe actuarialactuarial accruedaccrued liabilityliability forfor benefitsbenefits overover time.time. TheThe scheduleschedule ofof employeremployer contributionscontributions cancan alsoalso bebe foundfound inin thethe supplementalsupplemental informationinformation ofof thisthis comprehensivecomprehensive annualannual report.report. E.E. FundFund FinancialFinancial StatementsStatements TheThe fol owingfol owing areare thethe financial financial statementsstatements forfor thethe individualindividual pensionpension trusttrust fundsfunds GEREGERE PORTPORT andand FRF)FRF) forfor thethe yearyear endedended SeptemberSeptember 3434 2012:2012: COjouN194COjouN194 SIATLIIENTSIATLIIENT OFOF PLPL% %NN NENE" " 11 ASSETSASSETS FF loveelovee ReRe TeTe tenttent PundsPunds IbtalIbtal HnployeeHnployee too uroI Polity Firefighters' R uo, nann Fmplupeei ORCet Funds Rgiremcut Retin-ment Rehmnent ASSETS 1564, 119 540963 S 3475, 066 1469984 Cash and cs h e4oivallu" 7 778 7, 778 Duo tout State of Florida lnvustmrnts_ lnvustmrnts_ atat marketmarket 1834.91 8, 521299 i310.] US 1. 37fi W3 U SGovemmenl end A- encr obligotima I J71995 10 094981 1480 5. 137, 566 Covpomte obilgal Ions 407 6. 116994 14 361. 800 3. 714407 Co,, uta, cNoul 7 018041 R 091051 1 865. 036 16 590 128 29 Mutual fiends 31828. 112 16 673 10888. 186 54384W9 59,389 Total Investments, ou market 436927 6 8872453 299 O9fi 3 8 18. 137. 430 1 TOTAL ARSEIS 678453 NET ASSETS HELD IN TRUST FOR PENSION 33_ 98096 18137430 1L 36. 2i BENEFITS AND 01 HFR PURPOSES 5757  3. 1. a City of Fort Walton Beach, Florida NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE 7 - DEFINED BENEFIT PENSION PLANS (