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Indian River County, Florida <br /> Notes To Financial Statements <br /> Year Ended September 30, 2003 <br /> NOTE 14 - DEFINED BENEFIT PENSION PLANS — Continued <br /> B . Firefighters Defined Benefit Pension <br /> g Plan — Continued <br /> Funding Progress : <br /> Actuarial <br /> Actuarial Accrued UAAL As % <br /> Actuarial Value of Liability (AAL) Unfunded Funded Covered of Covered <br /> Valuation Assets Frozen Entry Age AAL (UAAL) Ratio Payroll Payroll <br /> Date (a) (b) (b-a) (a/b) (c ) (b-a)/c <br /> 10/01 /01 $ 7,3121430 $ 7,8765933 $ 564,503 92 . 8 % $ 86,791 650. 4% <br /> 10/01 /02 $ 6 993 1810 <br /> $ 7,9821786 $ 989,605 87 . /o <br /> 6 $ 633483 1558 . 9% <br /> 10/01 /03 $ 6,8231162 $ 8,0141048 $ 19190,886 85 . 1 % $ 629357 1909 . 8% <br /> y <br /> Annual Pension Cost And Net Pension Obligation <br /> Fiscal Year Ending September 30 : 2003 2002 2001 <br /> A . Annual Required Contribution (ARC) * $ 164,943 $ 242, 148 $ 234,915 <br /> B . Interest on Net Pension Obligation (NPO) ( 16 463) (23 103 ) (387216) <br /> C . Adjustment to ARC 54 <br /> ( 394) ( 110,335) (229, 101 <br /> D . Annual Pension Cost (A+B-C) 202,874 329,380 4259800 t, <br /> E . Actual Contributions 2925799 2469373 2365893 <br /> F. NPO at beginning of year (205, 783 ) (288, 790) (4779697) i <br /> a Increase decrease to NPO D-E <br /> ( ) ( ) (899925) 839007 188,907 <br /> H . NPO at end of year (F+G) (295,708) (205, 783) (288,790) <br /> * Includes expected State contribution . <br /> Three -Year Trend Information : <br /> Percentage <br /> Annual Pension Cost of APC Net Pension <br /> Year Ending (APC ) Contributed Obligation „ <br /> September 30, 2001 $425 , 800 56% $(288,790) <br /> September 30, 2002 $3295380 75 % $(205 , 783 ) <br /> September 30, 2003 $202,874 144% $(2959708) <br /> 82 <br />