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ELK RIVER FIRE DEPARTMENT RELIEF ASSOCIATION <br />ELK RIVER, MINNESOTA <br /> REQUIRED SUPPLEMENTAL INFORMATION <br /> DECEMBER 3 l, 1999 <br /> <br />A. Schedule of Funding Progress <br /> <br />Actuarial Actuarial Actuarial <br />Valuation Value Accrued <br />Date of Assets Liability <br /> <br />12/31/99 $ 1,309,219 $ 1,134,930 <br />12/31/98 1,390,291 1,155,967 <br />12/31/97 1,192,103 1,088,123 <br />12/31/96 1,001,056 953,938 <br />12/31/95 895,562 906,891 <br />12/31/94 759,890 779,372 <br /> <br />Funded <br />Ratio <br /> <br />115.4% <br />120.3 <br />109.6 <br />104.9 <br /> 98.8 <br /> 97.5 <br /> <br />Assets in <br />Excess of <br />(unfunded) <br /> Accrued <br /> Liability. <br /> <br />$ 174,289 <br /> 234,324 <br /> 103,980 <br /> 47,118 <br /> (11,329) <br /> (19,482) <br /> <br />Pension <br />Benefit <br />per Year <br />of Service <br /> <br />2,900 <br />2,674 <br />2,500 <br />2,350 <br />2,200 <br />2,200 <br /> <br />Bo <br /> <br />Schedule of Employer Contribution <br /> <br /> Annual <br /> Required <br /> Contribution <br /> <br />Percent <br />Contributed <br /> <br />1999 $ 82,950 100 % <br />1998 79,502 100 % <br />1997 90,308 100 % <br />1996 73,630 100 % <br />1995 43,754 100 % <br />1994 60,526 100 % <br /> <br />C. Notes to Required Supplementary Information <br /> <br />Valuation Date <br /> <br />Actuarial Cost Method <br /> <br />Amortization Method <br /> <br />Remaining Amortization Period: <br /> <br /> Normal Cost <br /> Prior Service Cost <br /> <br />Asset Valuation Method <br />Actuarial Assumptions <br /> <br /> Investment rate of remm <br /> Projected Salary Increases <br /> Inflation Rate <br /> Cost of Living Adjustments <br /> <br />12/31/99 <br /> <br />Entry Age Normal <br /> <br />Level Dollar Closed <br /> <br />20 years <br />5 years <br /> <br />Market <br /> <br />9% <br />N/A <br />N/A <br />None <br /> <br />-9- <br /> <br /> <br />