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ELK RIVER FIRE RELIEF ASSOCIATION <br /> STATEMENTS OF CHANGES IN FIDUCIARY NET POSITION <br /> FIDUCIARY FUND-SPECIAL PENSION TRUST FUND <br /> FOR THE YEARS ENDED DECEMBER 31,2012 AND 2011 <br /> Special Pension Trust Fund <br /> 2012 2011 <br /> ADDITIONS <br /> Contributions <br /> State of Minnesota $ 117,465 $ 116,902 <br /> 10%supplemental reimbursement 1,000 1,620 <br /> City of Elk River 30,000 38,500 <br /> Miscellaneous income 196 200 <br /> Total contributions 148,661 157,222 <br /> Investment earnings(losses) <br /> Interest and dividends 76,041 72,988 <br /> Appreciation(depreciation)in investments 158,702 (91,141) <br /> Less investment fees (21,688) (23,094) <br /> Total investment earnings(losses) 213,055 (41,247) <br /> TOTAL ADDITIONS 361,716 115,975 <br /> DEDUCTIONS <br /> Benefits <br /> Pension benefits 154,154 34,517 <br /> Administrative expenses <br /> Salaries 3,255 3,255 <br /> Professional fees 6,850 6,490 <br /> Bond 315 331 <br /> Miscellaneous 1,661 - <br /> TOTAL DEDUCTIONS 166,235 44,593 <br /> CHANGE IN NET POSITION 195,481 71,382 <br /> NET POSITION,JANUARY 1 2,260,830 2,189,448 <br /> NET POSITION,DECEMBER 31 $ 2,456,311 $ 2,260,830 <br /> The notes to the financial statements are an integral part of this statement. <br /> -23- <br />