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Elk River Fire Department Relief Association <br /> May 1,2013 <br /> M id 7M Page 5 <br /> c0 <br /> Funding Percentage <br /> The funding percentage is calculated by taking the Special fund assets and dividing it by the accrued pension liability.This graph will <br /> show your funding percentage for a 5-year period and compare your percentage to other relief associations. <br /> 130.0% <br /> 120.0% <br /> 110.0% <br /> 99.3% 98.2% <br /> 100.0% <br /> 83.2% 91.6% <br /> 90.0% <br /> 91.3% 89.0% 963% <br /> 80.0% <br /> 872% <br /> 70.0% <br /> 70.9% <br /> 60.0% <br /> 50.0% <br /> 2008 2009 2010 2011 2012 <br /> tAssociation percent (Peer group average <br /> This report is intended solely for the information and use of the Board of Trustees,members and the Minnesota Office of the State <br /> Auditor and is not intended to be and should not be used by anyone other than these specified parties. <br /> The comments and recommendations in the report are purely constructive in nature,and should be read in this context.Our audit <br /> would not necessarily disclose all weaknesses in the system because it was based on selected tests of the accounting records and <br /> related data. <br /> If you have any questions or wish to discuss any of the items contained in this letter,please feel free to contact us at your convenience. <br /> We wish to thank you for the opportunity to be of service and for the courtesy and cooperation extended to us by your staff. <br /> OL'&&)L�"1 U? <br /> May 1,2013 ABDO,EICK&MEYERS,LLP <br /> Minneapolis,Minnesota Certified Public Accountants <br /> 952.835.9090 • Fax 952.835.3261 <br /> w ww.aemcpas.com <br />