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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 31,2013 AND 2012 <br /> 2013 2012 <br /> ADDITIONS <br /> Contributions <br /> State of Minnesota $ 165,103 $ 117,465 <br /> 10%supplemental reimbursement 2,000 1,000 <br /> City of Elk River 30,000 30,000 <br /> Total contributions 197,103 148,465 <br /> Investment earnings <br /> Interest and dividends 84,687 76,041 <br /> Appreciation in investments 304,699 158,702 <br /> Less investment fees (27,198) (21,688) <br /> Total investment earnings 362,188 213,055 <br /> Other income <br /> Miscellaneous income - 196 <br /> TOTAL ADDITIONS 559,291 361,716 <br /> DEDUCTIONS <br /> Benefits <br /> Pension benefits 126,594 154,154 <br /> Administrative expenses <br /> Salaries 3,255 3,255 <br /> Professional fees 4,880 6,850 <br /> Bond 269 315 <br /> Miscellaneous 25 1,661 <br /> TOTAL DEDUCTIONS 135,023 166,235 <br /> CHANGE IN NET POSITION 424,268 195,481 <br /> NET POSITION,JANUARY 1 2,456,311 2,260,830 <br /> NET POSITION,DECEMBER 31 $ 2,880,579 $ 2,456,311 <br /> The notes to the financial statements are an integral part of this statement. <br /> -19- <br />