Audit for Fiscal Year Ending June 30, 2017

Schedule 7

CITY OF SPENCER SCHEDULE OF CITY'S PROPORTIONATE SHARE OF THE NET PENSION LIABILITY

IOWA PUBLIC EMPLOYEES' RETIREMENT SYSTEM LAST THREE YEARS * (IN THOUSANDS)

OTHER INFORMATION (UNAUDITED)

2017

2015

2016

City's proportion of the net pension liability ............................................

.042388%

.042779%

.043983%

City's proportionate share of the net pension liability ............................. $

$

$

2,652

2,108

1,746

City's covered-employee payroll ............................................................. $

$

$

3,072

2,963

2,921

City's proportionate share of the net pension liability as a percentage of its covered-employee payroll .............................................................

86.33%

71.14%

59.77%

85.19%

87.61%

Plan fiduciary net position as a percentage of the total pension liability.

81.82%

* In accordance with GASB Statement No. 68, the amounts presented for each fiscal year were determined as of June 30 of the preceding fiscal year.

See Accompanying Independent Auditors' Report 52