FY 2017 - 2018 Audit

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

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

OTHER INFORMATION (UNAUDITED)

2018

2017

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

.043928%

.042388%

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

2,908

2,652

$

$

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

3,289

3,072

$

$

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

86.33%

88.42%

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

81.82%

82.21%

* 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.

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

OTHER INFORMATION (UNAUDITED)

2017

2018

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

.509766%

.503138%

3,146

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

2,990

$

$

1,363

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

1,444

$

$

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

207.06%

230.81%

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

78.20%

80.60%

* 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