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City of Elk River <br />Schedule of City Contributions - <br />Public Employees Police and Fire Retirement Fund <br />Last Ten Years <br />Contributions <br />Contributions <br />Fiscal Year <br />Statutorily <br />in Relation to Contribution <br />as a Percentage <br />Ending <br />Required <br />the Statutorily Deficiency <br />City's Covered <br />of Covered <br />December 31, <br />Contribution <br />Required (Excess) <br />Payroll <br />Payroll <br />2014 <br />$ 418,280 <br />$ 418,280 $ - <br />$ 2,581,975 <br />16.20% <br />2015 <br />478,192 <br />478,192 - <br />2,951,802 <br />16.20% <br />2016 <br />495,478 <br />495,478 - <br />3,058,506 <br />16.20% <br />2017 <br />508,774 <br />508,774 - <br />3,140,580 <br />16.20% <br />2018 <br />533,296 <br />533,296 - <br />3,291,951 <br />16.20% <br />2019 <br />631,494 <br />631,494 - <br />3,725,628 <br />16.95% <br />2020 <br />610,950 <br />610,950 - <br />3,451,695 <br />17.70% <br />2021 <br />690,006 <br />690,006 - <br />3,898,339 <br />17.70% <br />2022 <br />724,413 <br />724,413 - <br />4,092,729 <br />17.70% <br />Note: Schedule is intended to show ten year trend. Additional years will be reported as they become available. <br />See Notes to Required Supplementary Information. 105 <br />