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City of Paris, Texas <br />-- Notes to Financial Statements (Continued) <br /> September 30, 2002 <br /> <br /> IV. Other Information (Continued) <br /> <br /> G. Employee Retirement Systems and Plans (Continued) <br /> <br /> 2. Firefighter's Relief and Retirement Fund (Continued) <br /> <br />-- Other Information <br /> December 31, <br /> 1999 2000 2001 <br /> <br /> Annual Pension Cost $ 179,611 $ 194,783 $ 194,175 <br /> <br /> Percentage of Annual <br />-- Pension Cost Contributed 100% 100% 100% <br /> <br /> Net Pension Obligation - <br /> <br /> H. Deferred Compensation Plan <br /> <br />__ The City offers its employees two deferred compensation plans created <br /> in accordance with Internal Revenue Code Section 457. <br /> <br /> I. Contingent Liabilities <br /> <br /> Amounts received or receivable from grant agencies are subject to audit <br /> and adjustment by grantor agencies, principally the federal government. <br />-- Any disallowed claims, including amounts already collected, may constitute <br /> a liability of the applicable funds. The amount, if any, of expenditures <br /> which may be disallowed by the grantor cannot be determined at this time <br /> although the City expects such amounts, if any, to be immaterial. <br /> <br /> The City is a defendant in various lawsuits. Although the outcome of <br /> these lawsuits is not presently determinable, it is the opinion of the <br />-- City's counsel that resolution of these matters will not have a material <br /> adverse effect on the financial condition of the City. <br /> <br />_ J. Related Parties <br /> <br /> The City Council appoints the governing boards of two entities which are <br /> legally separate from the City. The City is not able to impose its will <br /> on these two entities, and a financial benefit/burden relationship is not <br /> present; therefore, they are considered related organizations. <br /> <br /> <br />