HomeMy WebLinkAbout[06] Fire Relief ReportCI'T'Y OF ST. JOSEPH
MEETING DATE: July 7, 2011
AGENDA ITEM: Fire Relief Report
Council Agenda Item 6
SUBMITTED BY: David Salzer, Treasurer, 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.
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: Identification of budget requirements for 2012
ATTACHMENTS: Request for Action
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 2012.
Form SC -11
Calculation of Required Contribution
Saint Joseph Fire Relief Association
Page 4 - Cont.
Deficit Information - Original
Amount Retired
Year Incurred Original Amount as of 12/31/2010
Deficit Information - Adjusted
Amount Retired Amount Left
Original Amount as of 12/31/2011 to Retire 1/1/2012
2002
0
0
33,029
0
27,931
2003
0
0
2004
0
0
2005
0
0
2006
0
0
2007
0
0
2008
0
0
2009
165,526
105,452
165,526
122,005
43,521
2010
0
1 0
2011
3,790
3,790
Totals
165,526
105,452
169,316
122,005
47,311
Normal Cost (Page 4, cell C)
Projected Administrative Expense Enter 2010 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, 2011 (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 2012.
81 53,491
3,175
3,286
10
11
12
13
14
15
16,932
0
33,029
0
27,931
12,749