HomeMy WebLinkAbout[04.1]Fire Relief ReportCouncil Agenda Item Must be added to agenda
Crrl OF ST. jOSKPH
MEETING DATE: June 17, 2010
AGENDA ITEM: Fire Relief Report
SUBMITTED BY: Mark Winter, President, St. Joseph Fire Relief Association
BOARD /COMMISSION /COMMITTEE RECOMMENDATION:
PREVIOUS COUNCIL ACTION: Annually the Council receives the report.
BACKGROUND INFORMATION: The Fire Relief Association is a separate entity from the St. Joseph
Volunteer Fire Department. The St. Joseph Relief Association manages the retirement for the volunteer
Fire Department. The Mayor and Administrator /Clerk are financially responsible and attend the
quarterly meetings. Annually the Relief Association must present the Council with a financial statement
illustrating the fund status and required municipal contribution.
This fund is audited separately from the City Audit and the Relief Association is responsible for the
independent audit. Like the City Audit, this information is filed with the State of Minnesota.
Page 4 & 5 of Form SC -09 illustrate the required contribution for 2011. As can be seen on the attached
the projected municipal requirement is $ 9,806. Due to the volatility of the market, interest earnings are
down and the department has had expenditures due to retirement. As you can see on the included
schedules, the amount is based on projections so the amount could be decreased but it will not be
greater than the $ 9,806. The Fire Board will be discussing this matter at the meeting on Wednesday
evening and we can report on Thursday.
The Council does not need to approve this report; rather they must accept the report authorizing the
administrator to execute the same. This report is a mechanism to assure that Councils are aware of the
condition of the retirement fund and have advance notice of any required contribution.
BUDGET /FISCAL IMPACT: Inclusion of $ 9,806 for the 2011 Budget.
ATTACHMENTS: Request for Action
Summary Financial Report
REQUESTED COUNCIL ACTION: Accept the Fire Relief Report and authorize the Administrator to
execute the Fire Relief Report indicating that the Fire Relief has presented the report to the City Council
identifying the liability for 2011.
THIS PAGE INTENTIONALLY LEFT BLANK
Form SC -10 Saint Joseph Fire Relief Association Page 4
Calculation of Normal Cost
2010 2011
Total Active Member Liabilities 590,040 635,904
Total Deferred Member Liabilities 155,931 163,728
Total Unpaid Installments 0 0
Grand Total Special Fund Liability A. 745,971 B. 799,632
Normal Cost (Cell B minus Cell A) 1C. 53,662
Projection of Net Assets for Year Ending December 31, 2010
Special Fund Assets at December 31, 2009 (RF -09 ending assets) 1 556,603
Projected Income for 2010
State Fire Aid (2009 aid may be increased by up to 3.5 %)
Municipal / Independent Fire Dept. Contributions
Interest / Dividends
Appreciation / (Depreciation)
Member Dues (If deposited in Special Fund)
Other Revenues
Total Projected Income for 2010 (Add Lines D through I)
Projected Expenses for 2010
Service Pensions
Member Names:
Other Benefits
Administrative Expenses
Total Projected Expenses for 2010 (Add Lines J through L)
D.
30,143
E.
3,000
F.
12,772
G.
71,377
H.
0
I.
J. I 0
K. 0
L. 3,160
Projected Net Assets at December 31, 2010 (Add Lines 1 and 2, subtract Line 3)
Projection of Surplus or (Deficit) as of December 31, 2010
Projected Assets (Line 4) 5 670,735
2010 Accrued Liability (Page 4, cell A) 6 745,971
Surplus or (Deficit) (Line 5 minus Line 6) 7 (75,236)
21 117,292
31 3,160
41 670,735
Form SC -10 Saint Joseph Fire Relief Association Page 4 - Cont.
Calculation of Required Contribution
Deficit Information - Original
Amount Retired
Year Incurred Original Amount as of 12/31/2009
Deficit Information - Adjusted
Amount Retired Amount Left
Original Amount as of 12/31/2010 to Retire 1/1/2011
2001
2002
2003
2004
2005
2006
102,597
93,040
2007
2008
2009
165,526
0
165,526
90,291
75,236
2010
Totals
268,123
93,040
165,526
90,291
75,236
Normal Cost (Page 4, cell C)
Projected Administrative Expense Enter 2009 Admin Exp here: 9
Amortization Of Deficit (Total of Original Amount column x 0.10)
10% of Surplus (Line 7 x 0.10)
State Fire Aid
Member Dues
5% of Projected Assets at December 31, 2010 (Line 4 x 0.05)
Required Contribution (Add Lines 8, 9 and 10, subtract Lines 11, 12,13 and 14)
The required contribution must be made during 2011.
81 53,71
3,160 -- 3,2271
10 16,553
11 0
12 30,143
13 0
14 33,537
151 9,806
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Form RF -09
Section 4 - Signatures
Saint Joseph Fire Relief Association
Relief and Municipal Certification
We certify that to the best of our knowledge and belief, the information presented in this report is true and accurate.
X & -15--to
Signature: RELIEF ASSOCIATION OFFICER DATE
Kc � � ✓ aS�✓
First Name Last Name Title
X
Signature: MUNICIPAL CLERK DATE BUSINESS TELEPHONE
(If the relief association is affiliated with an Independent Firefighting Corporation serving more than one community, the
municipal clerk for the largest community served by the fire department must sign)
Auditor or Accountant Certification /,//lR
Associations with. Assets and Liabilities LESS THAN $200,000
An independent accountant may certify the reporting form below or, if qualified as a licensed or certified public accountant, provide a separate
attestation report by March 31, 2010.
Pursuant to Minn. Stat. § 69.051, subd. 1 a(b), I have examined the preceding statement of revenues, expenditurestexpenses and total net assets
(including investment information) of the Special Fund and the General Fund, and hereby certify this financial information in preceding Sections 2 and
3, is presented in conformity with Minn. Stat. § 69.051, subd. Ia(a), except if noted on the signed, dated sheet attached.
First Name Last Name
NAME OF AUDITOR /ACCOUNTANT (Type) NAME OF FIRM (Type)
Street Address City State ZipCode
ADDRESS OF FIRM (type)
Signature: AUDITOR / ACCOUNTANT DATE BUSINESS TELEPHONE
FAX NUMBER EMAIL ADDRESS
Associations with Assets or Liabilities of At Least $200,000
Pursuant to Minn. Stat. § 69.051, subd. 1(3), a certified public accountant, public accountant, or the state auditor must attest to, and submit, audited
financial statement of the relief association to the Office of the State Auditor. The Reporting Form and audit report must be submitted by June 30, 2010.