Audit for Fiscal Year Ending June 30, 2017

Schedule 7

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

MUNICIPAL FIRE AND POLICE RETIREMENT SYSTEM OF IOWA LAST THREE YEARS * (IN THOUSANDS)

OTHER INFORMATION (UNAUDITED)

2017

2015

2016

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

.503138%

.504315%

.495032%

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

3,146

$ 2,326

$

1,828

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

1,363

$

$

1,298

1,287

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

141.95%

230.81%

179.20%

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

78.20%

86.27%

83.04%

* 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 53