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<br />
<br />
<br /> City of Paris, Texas
<br /> Notes to Financial Statements
<br /> September 30, 2009
<br />
<br />
<br /> V. Other Information (Continued)
<br />
<br /> 1. Employee Retirement Systems and Plans (Continued)
<br />
<br /> 2. Firefighters Relief and Retirement Fund (Continued)
<br />
<br /> Annual Pension Cost (Continued)
<br /> January 1,
<br /> 2003 2005 2007
<br /> Actuarial Value of Assets $ 6,128,263 $ 6,967,797 $ 6,901,424
<br /> Actuarial Accrued Liability (AAL) 9,676,328 10,807,294 11,368,809
<br /> Unfunded A AL (UAAL) $ 3,548,065 $ 3,839,497 $ 4,467,385
<br /> Funded Ratio 63.3% 64.5% 60.7%
<br />
<br /> Covered Payroll $ 1,968,378 $ 2,093,252 $ 1,781,420
<br />
<br /> UAAL as a P rcentage of Covered Payroll 180.3% 183.4% 250.8%
<br />
<br /> Development of the Actuarial Value of Assets
<br /> December 31,
<br /> 2006 2007 2008
<br />
<br /> Market Value as of January 1 $ 6,570,452 $ 7,075,992 $ 7,158,898
<br /> Contributions, Interest and Dividends
<br /> Contributions by the City 253,191 282,687 306,216
<br /> Contributions by Members 197,946 228,882 262,283
<br /> Dividends and Interest 221,268 209,790 272,515
<br /> Other 13,398 6,028 21,835
<br /> 685,803 727,387 862,849
<br /> Disbursements
<br /> Benefits Pa' Monthly 769,028 757,831 809,723
<br /> Administrative Expenses 111,172 106,818 102,831
<br /> 880,200 864,649 912,554
<br />
<br /> Net Realized and Unrealized Gains and Losses
<br /> Realized Gains (Losses) 484,560 621,237 (431,974)
<br /> Unrealized Gains (Losses) 215,377 (401,069) (1,556,929)
<br /> 699,937 220,168 (1,988,903)
<br /> Market Value as of December 31 7,075,992 $ 7,158,898 $ 5,120,290
<br />
<br /> Adjustments to Develop Actuarial Value, Net (174,568)
<br />
<br /> Actuarial Va ue of Assets $ 6,901,424
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<br /> 55
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