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<br />City or Pans, Texas
<br />Notes to Financial Statements
<br />September 30, 2005
<br />
<br />V. Other Information (Continued)
<br /> I. Employee Retirement Systems and Plans (Continued)
<br /> 2. Firefighters' Relief and Retirement Fund (Continued)
<br /> Development of the Actuarial Value of Assets
<br /> December 31,
<br /> 2002 2003 2004
<br /> Market Value as of January 1 $ 5,819,824 $ 5,622,529 $ 6,352,304
<br /> Contributions, Interest and Dividends
<br /> Contributions by the City 225,037 231,556 272,228
<br /> Contributions by Members 202,530 215,507 229,967
<br /> Dividends and Interest 237,084 194,699 196,087
<br /> Other 3,241
<br /> 664,651 641,762 701,523
<br /> Disbursements
<br /> Benefits Paid Monthly 362,782 347,605 650,888
<br /> Administrative Expenses 34,438 75,241 93,809
<br /> 397,220 422,846 744,697
<br /> Net Realized and Unrealized Gains and Losses
<br /> Realied Gains (Losses) (83,405) 33,201 35,691
<br /> Unrealized Gains (Losses) (381,321) 477,658 262,899
<br /> (464,726) 510,859 298,590
<br /> Market Value as of December 31 5,622,529 6,352,304 6,607,720
<br /> Adjustments to Develop Actuarial Value, Net 505,734 360,077
<br /> Actuarial Value of Assets $ 6,128,263 $ $ 6,967,797
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<br />Other Information
<br /> 2002 2003 2004
<br />Annual Pension Cost $ 225,037 $ 231,556 $ 272,228
<br />Percentage of Annual
<br />Pension Cost Contributed 100% 100% 100%
<br />Net Pension Obligation
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<br />56
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