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4.2. SR 07-26-1993 r I ---"( ( II fill River e e ITEM 4.2. TO: MAYOR & CITY COUNCIL " LORI JOHNSON, FINANCE DIRECTOR~~ FROM: DATE: JULY 22, 1993 SUBJECT: FIRE RELIEF ASSOCIATION BENEFIT REQUEST Members of the Fire Relief Association will be present on Monday to make a second request for a City contribution to the Elk River Fire Relief Association. They will also be requesting an increase in their benefit amount for 1994. The amount of increase will depend on the level of contribution from the City in 1993. I will try to provide as much information as possible in order for the Council to make an informed decision. Because the laws regarding the Relief Association and the City's responsibility as it relates to the Relief Association are somewhat complex, there are numerous items that need to be brought to the Council's attention. First, I would like to address the questions Councilmembers had last Monday. Councilmember Dietz questioned whether the Elk River Relief Association was receiving a higher than normal contribution from the City. I have attached a copy of the report from Lawrence Martin, Executive Director of the Legislative Commission on Pensions and Retirement which addresses that question. This report was also distributed last year when the Relief Association made its presentation to the Council. At that time the Council was made aware that the City of Elk River is listed in this report as a community making an unusually large contribution to the Relief Association. There were 43 Relief Associations listed whose municipal contribution was very large in comparison to the amount of State fire aid received and the amount of the Relief Association's computed annual financial requirement. Councilmember Dietz also questioned how much a pay increase to $12 and $16 per hour would cost the City. Currently there have been 128 fires through June and the firefighters have put in a total of 2,022 hours on those fires. In addition, 612 training hours have been logged. An increase to $12 per hour would cost approximately $21,000 plus benefits, and an increase to $16 per hour would cost approximately $42,000 per year plus benefits. Currently the assistant chiefs are paid at $9 per hour, while other firefighters are paid $8 per hour. Councilmember Dietz further requested detail information on each employee including the number of hours worked and the number responses. That information is attached. P.O. Box 490 · 13065 Orono Parkway · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 e e e Next, I would like to make the Council aware of several issues relating to the Council's responsibilities and obligations to the Fire Relief Association. It is important that the Council be aware of these prior to approving an increase in the benefit amount. I have attached numerous articles from the League of Minnesota Cities magazine and a recent article found in the State Auditor's newsletter, each of which relates to the Fire Relief Association. I will attempt to highlight the main points of these articles. First, the Fire Relief Association can ratify a benefit increase without City Council approval, but only if the Relief Association has a surplus (i.e., is totally funded) and no municipal contribution is required. It is always in the Relief Association's best interest to have the City Council approve any increase in the benefit amount; however, it is not always a benefit to the City Council to approve each benefit increase. The City Council is liable to make up for any potential shortfall in Relief Association assets in order to make payment for benefits at the level approved by the City Council. For example, if the Relief Association had approved a benefit amount of $3,000 and the City Council had approved a benefit amount of $2,000 and there were numerous retirements and a decrease in the market value of the investments, the City would be responsible for making payment to firefighters based on the $2,000 level. One way to avoid the issue of holding the City responsible while still allowing the firefighters to get the maximum amount from the Relief Association assets is to change from a defined benefit to defined contribution method of payment. The City has been suggesting this for the last several years. Recently, the Relief Association had a guest speaker from Anoka to explain how Anoka changed from defined benefit to defined contribution. Using the defined contribution benefit system, the Association's assets are split among the firefighters based on number of years of service and other factors. Using this method, the fund is always totally funded and there is no need for the City to provide sufficient funds. It is hopeful that the Relief Association membership will consider changing to a defined contribution benefit system. The final attachment is a copy of the Schedule 2 from the Relief Association. I did not receive a copy of Schedule 1 showing the liability for each firefighter. The schedules were calculated by Gus Welter, the Relief Association's Consultant. There are several things I want to point out on this schedule. First, the Relief Association assets as of January 1, 1993, are shown at a higher level than the number in the audit. The audit states the assets at the lower of cost or market while the Relief Association lists its assets at market value. According to State Statute, the Relief Association may use the market value of its assets for this calculation. The market value of the assets is approximately $22,500 higher than the investments valued at lower of cost or market. As you know, the market value is subject to change on a daily basis. e e e The second item I want to bring to your attention is the amount of anticipated interest income. In 1993, the Relief Association expects to receive approximately $54,500 in interest income, which is a return of approximately eight percent. This number may be a bit high; I did question this and was assured by the Relief Association that they were comfortable with an eight percent return. The 1992 schedules for the 1993 benefit amount estimated interest at $44,600 while the actual amount received was $28,390. The amount of projected interest income of course affects the benefit level and the associated surplus or deficit. The attached schedule is calculated based on a benefit amount of $2,240 per year. This is an increase of $140 per year. This schedule also assumes that the City will make a contribution in the amount of $19,000 in 1993. Using these assumptions, this benefit level of $2,240 does not require a City contribution. Past policy has been that the Council will not approve a benefit level which requires a City contribution. If the City Council decides not to contribute $19,000 to the Fire Relief Association in 1993, a municipal contribution of $1,819 will be required if the benefit is increased to $2,240. Also keep in mind that the interest earnings may not meet projections and although that would not affect the contribution required in 1994, it would have an effect on future requirements. The following chart provides some historical data on benefit amounts and City contributions to the Relief Association. Per Year Percent Year Benefit Increase ----- -------- -------- 1994* $2,240 6.67% 1993 $2,100 10.53% 1992 $1,900 2.70% 1991 $1,850 19.35% 1990 $1,550 3.33% 1989 $1,500 7.14% 1988 $1,400 16.67% 1987 $1,200 20.00% 1986 $1,100 *Requested by Relief Association City Contribution State Aid $19,000 $19,000 $18,100 $15,000 $15,000 $11,000 $ -0- $38,590 $38,907 $38,221 $36,297 $33,507 $30,837 $26,997 According to State law, the Relief Association is to get approval from the City Council for an increase in the benefit amount prior to August 1. If the Council is to approve a benefit increase it needs to be done at a City Council meeting prior to August 1. It is my understanding that the Relief Association has a supplemental Schedule 2 prepared in the event that the City does not contribute $19,000 to the Relief . e e Association in 1993. I have not seen a copy of that Schedule, nor do I know the benefit amount being proposed if the $2,240 per year benefit level is not approved by the City Council. The Relief Association Trustees approved a request for benefit in the amount of $2,240 at the last Relief Association meeting. Due to a League of Minnesota Cities meeting, neither the Mayor nor I were able to attend that meeting so I am not aware of other discussions pertaining to the requested per year benefit. If you have any questions on the information I have provided, please feel free to contact me for further explanation. Also, if there are other items you would like addressed or if you need additional information, let me know so that information can be gathered prior to Monday night's meeting. , State of Minnesota \ e ..-- e e - L~~ ~U ~L L~;4J IU:~~~(~~J9 F RlJ/'l: C 1/ Y UF BKL YN PARK T - 33':1 P. 05 LEGISLATIVE COMMISSION ON PENSIONS AND RETIREMENT ....,~ ~, '. ".. .' TO: FROM: ~ cf 111 f;.~", ~' ~"'" I), "f" 0( '.. (i:&~l \~=QI\"J< ~~~~... Members of the Volunteer Fire Subcomm'~e Lawrence A. Marlin, Executive Direclo~ 4; RE: Incomplete or Erroneous Date In State Auditor's 1989 Compilation of Volunteer Firefighters Relief Association Reports . . DATE: ~vember 22~ IntrocJuctiQO During the November 18-19, 1991, Volunteer Fire Subcont..'lllUee hearing, the Subconuniuee reviewed the compilation preparecJ by the Office of tho State Auditor of the annual Hnandaf information reported by the various volunteer firefighter relief associations. As the Commission staff examined that compilation report more closely durJng the course of the Subcommittee hearing, it became clear that the compilation report contained a considerable volume of incomplete or erroneous data and indicated substantial lack of compliance with the requirements of state law for the funding of volunteer firefighter relief associations. J.nrompJet~ aDd ErroneQus Data There are nine different categories of incomplete or erroneous data set forth in the State Auditor's 1989 Compilation. Tb'e categories, matching the a~tached lists of volunteer firefjghter relief associations, are as follows: List A: Erron~ously Computed Actuarial Liabilities (4 Relief Associations) The reported actuarial liability calculation is such a nominal amount that it is unlike"ty to have been a~curately computed. List B: Identical Assets and Actuarial Liabilities (7 Relief Associations) The reported actuarialliabiJity calculation is ~dentlcal to the reported aSSet figure, which is a sufficient coincidence to raise a suspicion that the actuarial liability is miscomputed or that the assets are misreported. Ust C: Normal Cost Unreporled (135 ReHef Associations) The reported figures omit a calculated normal cost (annual accruing liability) figure, which occurs with every defined benefit plan (lump sum or monthly benefit). List D: Indicated Unfunded Accrued LfabHlty. But Amortization Requirement Unreported . (164 ReHer Associations) The relief association indicates an unfunded aCluarialliabllity, which must be amortized under state law, but fails to indicate any amortizatJon contribution, thus understating the relief association's financial requirements. List E: Improperly Calculated Amortization Requirement (61 Relief Associations) The rep()rted amortization requirement does not match the expected figure, given the indicated unfunded accrued liability, with state law requiring an amortization contribution of approximately one-tenth of the unfunded accrued liability amount. List F: Amortization Requirement Reported for Relief Association With no Unfunded Accrued Liability (30 Relief Associations) The relief association does not indicate the presence of an unfunded accrued liability, but inappropriately indicates an amortizatJon requirement. Page 1 151191LM l..'Lt... -'U /' .~ I . . S. f(q 0 .~ (jf) NE.vJ f'2-8;\ , . r4(..A7'~ ~~~ R.Bv(2..~ V8~'I" b. d. _'.I. .I.c.. 4..> I U ~ :;...)..j I _N:.. 1 ..) I hL, I. _t I I 1...1, Uh......ll, l,u...h I ..J_ _, I . lJ4 Jnvesll1Jent~ .\ a. Lack oC ComWlanc~..by VQ]luileer Flre(h~hter Relief J\c;soclBtJons In Reportil]g Investment Performance. Since 1990, volunteer firefighter reHeC assocJatlons with at least $SOO,Ooo in assets have been requIred to report quarterly and annual Investment performance returns, but 40 of the 51 volunteer Chefighter reller associations ~overed by the law (78.4 percent) Called to comply, mostly by Calling to report any performance results or by CHing Incorrectly computed performance rcsu Its. J'Qlen!ia! E~c1ullon of a G~aler I'iUI11I!~ of ~OIQn!eer ~~eq~hter Belie! AsSOclCJtlOns from Inv~~tm~.m P~tlQ.rm~G.~ RcmQt!iniJ~~qul[~IDeli1. Potential draft legislation would Increase the asset threshold for the Investment performance reporting requirement from $500,000 to $3,000,000, thereby eliminating all but two currenf volunteer firefighter relief associations from the reporting requirement. c. R~Jier AssociatiQll Investmen{.c; in Fire Department EquipmenJ or Lo~nl I;conomic Development. Although slale Jaw does not generally permit it, Some volunteer firefighter relief associations reportedly have considered or actually have directly or indirectly invested relief association special fund assets in fire department equipment. such as fire trucks, or ill local ~conomic development investments, such as local residential real estale or construction loans. Insurance Products as AuthQr;zed Investments. Currenllaw limits volunteer nrefighter relieC association investments in insurance products to single premium annuity contracts on behalf of retiring firefighters fnlieu of a lump sum service pension or In guaranteed investment conlracts through the State Board of Investment's Supplemental Investment Fund, but some interested parties have argued Cor also allowing life Insurance as a p'ermiued Investment. 6. Plan Administration a. @ b. c. q(I( -rAt s ~"'(lj Regulation of the General FlIud. The general fund ora volunteer firefighter relief association can support a wide variety of potential activities without any statutory regulation, although with the potential for sizeable proceeds from lawful gambling or Jarge scale carnivals the eoeral fund acUvities l11a not any longer constitute a re a lve U15 leant ort on 0 volunteer firefighters reli~f' ass5CHUion ac IVltles. . ---- . Admfnl~tratfve Expenses R~I~lted to Lawful GambllOg. For volunteer firefighter relief associations involved witb hiwful ga~bling, the administrative expense load and time conunltment of relieC association trustees and officers arising out of the lawful gambling activities may be considerable. Federql Jncome Tax Oua1lf1~fl(iQu. Volunteer firefighter relief associations potentially can be qualified for federal income tax exemption as an orgnnizalion either under Internal Revenue Code Section 401(a) or Section SOI(c)(4), with Internal Revenue Code Section 401(a) tax qualification bringing additional individual taxpayer income tax deferral benefits, but it is unclear how many volunteer firefighter relief associations have clarified theIr federal tnx status. 7. Other a. Propriety of Invp]vem~nt with Lawful GambHnj. At least 186 volunteer firefighter reHef associations are currently sponsoring lawful gambling, but, because of the pension and benefit connection, additional specialized regulation of this activity may be appropriate. Approptiate Enforcement Measures for Statutory Noncompllanc~. The current penalty for noncomplianc~ with statutory funding or related requirements, the tlisquuliricallon from future (ire state aid receipt, is apparently not Imposed regularly and may not be well designed to ensure compliance. b. @/ Page 3 /. 4M1291LM e e e - ;( @ e e. f. \') E:F I.....J e' ~ j --,', - , j. , , II \.J. '-'_ ~ I . L,,-, t5C'N t: t:-", '7 '''-LArJ -/ 20 years of selVice) 10 a maximum of $3,000 per year of serVice credit lump Sum (or $60,000 wllh 20 years oC service) or frolll $2.00 per month per year of service credil (or $40 per month with 20 years of service) to a maximum of $30.00 per Olonl h per ye or of selV; ce credit (or $ 600.00 per .monlh with 20 ye ars of selV ice ), although the disparity may not be well correlated with pension adequacy or other related con.siderations. ' b. Appropriate Maximum (or Lump Sum Service Pension Relief Alisodaliolts. The current lump sum service pension flexible maximum limits lump Sum volunteer firefighter service pensions to $3.000 per year of service credit. even though some volunteer firefighter relief associations have the current financial capacity 10 . support a higher service pension level and the monthly benefit service pension flexible maximum limits were recently expanded, ID-ld some interested p-arties 110VC requested lis expansion..:. , ---.. Making Servlc~ Pension Incr~Qses Retroactive fQr Prior Servf~. The currenl volunteer firefighter tellef assocJallon law allows. but does not require, service pension Increases 10 be made retroactive (applying to prior service), which practice rewards long service firefJghters and presumably induces them to continue in firefighting service for a longer period than they would otherwise, and some interested parties would like to mandate this practice. c. d. CredIting Service on a Monthly Basili. The current praclice is to credit service on an annual basis for completed years rather than on a monthly basis, and some interested parties se'ek authority for this fractional service crediting. J.O Year Service Credit M~lmum on Monthly Benefit Relief AssQciations. The current law places a 30 year limit on creditable service for volunteer firefighter relief associations providing monthly benefits. but not for volunteer fiJ efighting relief associations providing lump sum benefits or defined contribution benefits, and this maximum or lack of maximum has been criticized by interested parties. Making ~ervice Pension Increases J!etroaclive to Include Deferred ~etirees. TIJe current volunteer firefighter relief association law provides that the benefit plan governing a deferred retiree Is the benefit plan In effect when the deferred retiree terminated firellghtlng service. hence excluding the deferred retiree from future service pension increases. but some iJllerested parties seek to change this practice. 4. Funding a. Disparity in Fire ~tate Aid Allocation~. There is a considerable disparity in the amount of fire state aid allocations, from a low or $157 ($9.24 per active firefighter) in Seaforth, Red Wood County, to a high of $177,971($4.340.76 per active firefighter) In Edina, Hennepin County, and this disparity may impede other policies. ' ' . b. ~=lancc lrilh SlatujolY Financl~1 Rellu/rement. QelerminalillD :-rA,l'. PIo(fedur~. The 1989 Slate Auditor.s Compilation of Annual Financial Report :> -(~ Information provides evidence of substantial noncompliance with the relief '{ <1\>' ~ I .it "".ocla tI on Cinanclal requirements delennlnalion proce.s under lhe 1971 <11. dl!f; W ILk1l~ Volunteer Firefighter Relief AssociaUon Financing Guidelines Acl, Minnesola \c.a"'~eS oIV 'dJ1l'Slalutes, Sections 69.771 ~ 69.775, and Iha. noncompliance aud Ibe slate's.currenl i ~ P(\Q( ~ .-0(0 . enforcement structures may need to be revised. I\'t)t'!~ ~ . ,~. Extent of Munl~lpJl1,COlllr!bl.JtiQ'!s. Approximately 55 percent of all volunteer *-- firefighter reHef associations receive municipal contributions, I allging from $1 (Hackensack) to $134,326 (Lakevllle), with interested parties contending Ihat municipal contributions either should be mandatory or should be prohibited. d. Funding From Lawful Gambling Pr9ceeds and Other Sources. Records from the Department oC Public Safety indicate that 186 volunteer firefighter relief associations currently have one or more lawful gambling licenses, thereby producing additional revenue for the relief association that may be deposited in the special fund to support Jts pension obligations or may be routed through the muruclpality 10 be rechnrocterfzed as ,municipal contributions. Page 2 4Ml291LM --. - 1l.T';;T;;J-:JT~- -FRCWI:CJTY OF BKLYN PARK T-33'3 P.03 ,.-,,' -- - - .- ~... ~..., -' :> "~,v , --, -_ . St' t f Me t \ La:..AL ~\.Sl:.~"l1k50 . a e 0 mneso a lEGISLATIVE COMMISSION ON PENSIONS AND RETIREMENT TO: FROM: RE: , DAlE: JntroductiQJl .' 1. ~:~ .'. <J:.lt. '. . (~~, ,'~.:.. (~ ~,lI:t.ill Members of the Volunteer Fire Subconunitlee Lawrence A. Martin, ExecUtive Director ~/11J Issues Identified Concerrung Volunteer Fire P~nslons December 11, 1991 . On November 18, 1991, lhe Volunteer Fire SubeomrnlUee began its eomideralion of Ihe topic of volunteer fire benefit coverage, plan Cundlng, and plan administralion. The Subcommillee reviewed the current laws goverrung volunteer fire benefits and volunteer firefighter relief assoclaliolls, the funding condilions of Ihe various volunteer firefighter relief assoclalions, and allocaUolls of flre state ald. The Subcoll1!Dluee also heard leslimony from various interested parties on issues connected with volunteer fire benefits and volunteer firefighter relief associations. The SubcommiUee was establiShed to conUnue the conslderalion of volunteer fire Issues begun by the LegiSlative Commission on Penslom and Retir~me..t on July 1-2, 1991. IdenlJ~d Volunteer Fire Pension Issue~ For purposes of groupjng Ole various issues identified by or on behalf of the Subcommittee regarding volunteer Cire pensions, the Comm.ission staIl has orgaruzed lhe issues into seven calegories. The categories and IdenUCied Issues. including some addIUu...llssues lIuted by the CommissIon staer Cor potential Subcommittee attention, are as follows: b. Fundraisini for the Benefit of the General Fund. The non-pension fund of a ......... volunteer Clrefighter relief association, the general fund, is apparently the potenlial recipient of the pr.Qceec..ls of lawCut gambling acdvltJes, but regulation of the general fund is largely nonexistent. ~... . Relief Association Membei'~hfR. . . a. f.~~aLlndusfon ~;'&c'usion of Emeriehcy First Response and AllJbllJanc~ Per~onn~~gency first response personnel and ambulance personnel are 1101 required by law 10 be vol WI leer Orefighler I.elief llS5uclalioll members. but /IIay . be &0 by local decision. either ~th or without being required to have specific (lrefighting tralrung and duties, and this practice has been questioned by Some . Interested par~i~s. . .,,' '; ... :," .' " " Pptentla' E,~llJsJon of Non-Flre Suppression ~Ir~ Qepnrtment Personnel. Volunteer firefighter relief associations apparenUy Jnclude certain fire department personnel who ~ay not be directly eng8.ge~.ln fire suppression .../ activities, like Clre prevention personnel, fire persOlUlel trainlng persolUleJ, and (ire equipment maintenance persormeJ, and this Inclusion also has been questioned by Some interested parties. .t-~W7LV~ I'V fYldld ~ ~,~ f=I i.s)f1" n I ,.Ml\taJ <;;vr<<>~~-tJl, Defjnition of Volunteer fir~Qehter. "Ole speciflcaUon 0 W 0 J a volunteer <,,:.____....__ firefighter and what level of ongoing flrefightfng activities are needed to remain so classified 1s done locally, without any statutory direction, apparently differs considerably statewide, and may bene{Jt Crom legh:lative reconsideration. ........ .. 1. 2. b. c. " e LegQI StrQcl4rc ~o.d Governance a.. Non-aUentlini Municip~J Representative~. The board oC trustees oC each volullteer firefighter relicf association Includes three munlcipal officials, who possess full powers as trustees, but who, in tbe case oC a number of relief associations, reportedly do nol Bttend trustee meeting! or do not give their trustee duties their full attention. ' 3. Benefit Coy~ra2~ a. Dispa(ity In Volunteer Fire Service Pension Amopnts. nlere 1s a considerable disparity In the level oC volunteer firefighter relief association service pensions, Crom less than $50 per year or service credit lump Sum (or less than $ ),000 with Page 1 4MI291LM DEC 30 '91 12:44 TO: 95373279 FROM:CITY OF BKLYN PARK T-339 P.06 . ., .' List G: No Reported Fire State;Nd (3 Relief Associations) .. . . . The relief association omits reporting the amount of fire state aid received by the relief association. ~ List H: Unusually Large Reported Municipal Contribution 1\. (43 Relief Associations) .. . . The reported municipal contributIOn IS very largc~ I.n compa,ns?n ~llh the amount of fire state aid received and the amount of the rdtef aSSOCiation s computed annual financial requirement. e Ust I: Unusually Large Administrative Expenses .. (32 Relief. Associations) .' '" The reported level of admlmstrative expenses is very large In compan::ion with the amount of fire state aid received and the amount of the relief association's computed annual financial requirement and ll:nnIJul benefit p~yout. The problems underlying lists A through F indicate both a misunderstanding of the . requirements of the 1971 Volunteer Firefighters ReHef Association Financing Guidelines Act, Minnesota Statutes, Sections 69.771 through 69.775, and a misstatement of the funding requirements of the various volunteer firefighter relief associations involved. After about 20 years of stale regulation of volunteer firefighter relief association funding. there should be a better level of understanding of their statutory duties by volunt<eer firefighter relief association officials and municipal officials and better monitoring and enforcement by the State Auditor. Other Noncompliance Issues I/l~Hcated by the 196~ ~o[]1pilation Report There are five additional state Jaw compliance - noncompJjanc(~ issues indicated by the 1989 State Auditor's Compilation Report. These issues are: 1. J&1c;k of S~(Yice PensioQ Leyelloformatlun A number of lump sum volunteer firefighter relief associations and all monthly benefit volunteer firefighter relief associations fall to indicate the level of the service pension . that the relief associations provide. Examples include Cannon Falls, Danube. and Madelia. Without information on the level of service pe:nsion promised, it is impossible to galn a sense of compliance with tbe statutory flexible service pension maximums, thereby limiting the statutory compliance determination function of the State Auditor. 2. Service P~nsfon In Excess of Amount permitted for Lev~~l of Financing A number of volunteer firefighter relief associations appear to provide a service pension level greater than is permitted with the current level of financial resources of the relief association. Examples include: e Bethel, which promised $400 per year of service lump sum service pension with financial resources limited to fire state aid of $548 ($27.40 per firefighter); Emily, which promised $535 per year of service lump sum service pension with financial resources lim1ted to fire state aid of $2.493 ($124.65 perfirefjght~~); Hamburg, which promised $350 per year of service lump sum service pension with financial resources limited to fire slale aid of $2,182 ($75.24 per firefighter). If the current financiaf resources of the relief association are representative of ils funding amounts for the prior three years, the service pension levels under the statutory flexible service pension maximums would be $50 per year of service for Bethel, $240 per year of service {or Emily, and S 140 per year of service for Hamburg. 3. ~~rv/ce Pension Ampunt Beyon(j Largest Flexible Servlcl~ Pension Maximum Amount The Anoka Volunteer Firefighter Relief Association is listed as providing .\lump SUIIl service pension of $3,805 per year of service, while the flexible service pension ill Page 2 151191LM . .. ~ ._.~ maximums In Minnesota Statute, Secllon 424A.02, Subdivision 3, set Ihe largest service pensIon amount avalJable at $3,009. . ';0 4. Ancil/aty Benefits Beyond Statutory Limits A number of voiunleer firefighter relief associations appear to provide ancillary . (casu al ty) benefi Is in excess of the '.1 a I u tory maximum. M innesola Slat u I es. Sectio n 424A.02, Subdivision 9, provides that ancillary benefils may nOI exceed Ihe amOunt of the accrued service pension, exceptthal,urvlyor benefits can be based on five years of service if the firefighler had less service as of Ihe dale of death. Examples include: Argyle, wllh a survivor beuefit of S4,8oo, compared to a service peusiou of $312 per year of service credit, Or Ihe accrued benefit for 15.4 years of service. Foley, wilh a survivor beneflt of $6.500, compared to a service pension of SI.oo0 per year oC service credit, Or the accrued benefit for 6.5 years of service. Milaca, wllh a surviyor benefit of SIO,OOO, compared to a service pension of S800 per year of service credit, or the accrued benefit for 12.5 years. 5. failure to Make Required MuniciDlll Contributions e A number of volunteer firefighler relief associations reporl a substanllal financial requirement iu au amount greater than Ihe fire Slate aid, but uO municipal conlribUlioll In addition to fire state aid was received. Examples include: Golden Valley,Wilh an indicated total requiremem of $148.991, fire slale aid of S79,436, and no municipal contribuliou to meellhe balance as required by law. Grygla, with an indica led 10lal requirement of $14,580, fire state aid of $2,829. and 110 municipal contribution Lo meelthe balance as ~equired by law. Two Harbors. with an ludicated tolal requirement of $31.593, fire stale aid of S14,225, and no munJcipal contribution to meel the balance as required by law. .conclusiQU These dala problems and compliance issues deserve to be raised with the Slale Audilor's Office for a resolution and for future compilation report improvements. e ,. ill I" \. _ ~... /'. . . e e ... '- ...IV FRCt1:CITY (F BKLYN PffiK T-339 P.07 ., AJexandria Apple Valley Brainerd BuhJ Carver Centennial Chaska Cokato Cromwell Crystal Dassel Detroit Lakes Eagan Eagle Lake * Elk River Evansville Fairmont Hermantown Hutchinson Keewatin. Lakeville - Anoka Belle Plalne BemldJI PIoneer .....-. Brooklyn Park Claremont Cold Spring -. Coon ~apids Crosby , Eiigan Eden Prairie --"" Edina Evansville Excelsior Fairmanl .- Fridley Glencoe ,'List G No Reported Fire Slate Aid . .~ Columbia Heights Fertile Shevlin List Ii Unusually Large Municipal ContrIbution Lexington LindSfrom Utlle Canada Lorello Minnetonka Montgomery \ Mountain Iron . New Scandia \. New DIm Newport North Mankato Oakdale Osseo Pike Sandy Britt Pipestone -- Robbinsdale Rockford Roseville Savage VadnaIs Heights White Bear Lake Worthington List I Unusually Large Administrallve Expenses Reported -- Golden Valley Hugo lnver Grove Heights Lindstrom . Minnelonka Mound Newport North SI. Paul - Plymouth Rice Lake RosevIlle Savage Spring Lake Park S1. Stephen Waconia White Bear Lake , AIIl191 FIREFIGHTER HOURS AND CALL RESPONSES e FOR JAN. 1, 1993 TO JUNE 30, 1993 FIRE TRAINING NO. OF % OF CALL FIREFIGHTER HOURS HOURS CALLS RESPONSES* COMMENTS NYSTROM 61 16 58 45.31 % RETIRE ELIGIBLE TRUNNEL 85 28 80 62.50% MCCARTNEY 83 12 78 60.94% RETIRE ELIGIBLE ANDERSON, C. 87 56 81 63.28% PLUDE 23 3 21 1 6.41 % DREISSIG 83 44 74 57.81 % MORRELL, L. 55 4 52 40.63% RETIRE ELIGIBLE DREISSIG 45 10 45 35.16% RETIRE ELIGIBLE KREUSER, J. 101 18 96 75.00% RETIRE ELIGIBLE OSCARSON 60 10 58 45.31 % DITTBENNER 43 9 37 28.91 % MORRELL, R. 58 9 53 41.41% DEHN 38 4 36 28.13% BARSODY 81 29 78 60.94% SYKES 33 17 33 25.78% LEFEBVRE 0 1 0 0.00% MEDICAL LEAVE FOLLM ER 65 2 62 48.44% KREUSER 4 6 4 3.13% MEDICAL LEAVE PEARSON 72 15 68 53.13% ANDERSON, D. 62 14 56 43.75% ADERMAN 75 37 68 53.13% ANDERSON, G. 74 43 67 52.34% COLLINS 84 44 70 54.69% e SMITH, J. 59 14 52 40.63 % BORNTRAGER 45 24 39 30.47% CREPEAU 56 36 51 39.84% SKOGSTAD 77 16 72 56.25% SMITH, D. 59 9 47 36.72% DILLON 63 15 56 43.75% OLSON 70 15 66 51.56% POCHMAN 78 17 71 55.47% GREENE 82 18 77 60.16% ELLIOTT 61 17 56 43.75% TOTAL 2022 612 1862 ANNUAL INCREASE PAY AT $8/HR $21,072 PAY AT $12/HR $31,608 $21,000 PAYAT$16/HR $42,144 $42,000 * NOTE: FIREFIGHTERS ARE ALLOWED TO MISS FIRES IF THEY ARE ON AMBULANCE DUTY, AT FIRE TRAINING, OR ARE USING THEIR ALLOWED VACATION TIME. BECAUSE THE RECORDS FOR VACATIONS AND ETC. ARE NOT KEPT AT CITY HALL, THESE ALLOWABLE ABSENCES HAVE NOT BEEN TAKEN IN TO CONSIDERATION IN THE ABOVE CALCULATION. FOR THAT REASON THESE PERCENTAGES ARE ESTIMATES ONLY AND NEED TO BE ADJUSTED BY THE ALLOWABLE ABSENCES. e e ".,......... ~ Did you know? Stan Peskar Investment of firefighters' relief association funds Do city clerks, administrators, or managers and councils need to con- cern themselves about the invest- ment of "special funds" of volunteer firefighters' relief asso- ciations? Yes. The relief association trustees, including the city clerk or clerk-treas- urer, mayor, and fire chief, have a fiduciary obligation to see to it that association investments are prudent.l ~Additiona1lY' the city and its taxpayers, as well as the association members, could face financial losses if trustees don't handle investments carefully. Volunteer fire relief associations have a wider range of investment options than cities do.2 The range of permitted investments for relief asso- ciations is quite broad, and includes a number of equity-type investments such as corporate stocks, mutual funds, limited partnerships in venture capital investment business, and real-estate limited partnerships. The statute pur- ports to authorize use of put-and-call options as well as futures contracts on various securities, all of which might be regarded as purely speculative unless used for hedging purposes. Examination of market data seems to indicate that over extended periods, equity and other alternative invest- ments may produce a better overall return than fixed-income securities like certificates of deposit or U.S. govern- ment securities. But expectations of &;reat:r };elds assume adequate diver- sification and otherwise competent and professional investments. An unfortun- ate. plunge with a large portion of available assets can reduce the principal so drastically that it is difficult to recover, even with excellent subse- quent returns. . . Therefore, direct investment in equ- Ities and other volatile securities may not. be wise for most volunteer fire re.he~ associations. Conservation of ~nnClpal has to be a prime considera- bon when deciding on investments for any pension fund. The relief association needs to con- November 1986 sider several factors in investments. The first and most obvious question is whether it's appropriate to make investments which place the principal at risk. Recent experience with long- term, fixed-return instruments like bonds demonstrates that in times of rising interest rates, market value can decline dramatically. Thus, unless maturities are timed so that it's not necessary to sell investments to pay ongoing obligations, some principal can be lost, even in fixed-return invest- ments. Exact timing of maturities to all The law firm of O'Connor I & Hannan is pleased to <lnnounce that RANDOIPfIJ. MAYER has joined the firm's Munifipal Finance Department resident in the ~inneapo1is office Mr. Mayer returns to O'Cornior & Hannan after five years with the Willkie Farr &t Gallagher law .firm in New York City where he ~rved as bond counsel and underwriter's counsel fot the issuance of general obligation bonds and indust:r4u development bonds. Prior to joining Willkie Farr, he ~d been with O'Connor & Hannan for !two years. i Mr. Mayer joins W41iam R McGrann, Andrew). Shea, William E.I Flynn,]ames P. O'Meara, Thomas D. Creighton, Nic,\<: Hay,]ule M. Hannaford, Mark). Ayotte and Deb~ G. Strehlow in serving over 100 municip~ clients at O&H. O'CONNOR So HANNAN QaH 3800 IDS CENTER. 80 SqUTH EIGHTH STREET MINNEAPOLIS. MN 55402-?254 16121343-1200 WASHINGTON. D.C. DENVER MADRID 31 needs for funds is difficult or impossi- ble, and may result in lost opportunities for returns. Further, in times of substantial infla- e tion, an. association needs to make preservation of the special-fund assets in terms of constant dollars or purchas- ing power a major consideration, if it hopes to accomplish its objectives in an economical manner. Thus some expo- sure to loss is almost inevitable; how- ever, it's likely to be substantially less than for alternative investments. Stocks and other equity investments are subject to substantial fluctuations in value over the short term. A relatively small fund such as the typical volunteer fire relief association needs to consider carefully whether it's appropriate to subject the fund to fluctuations in investment value that are likely if a large percentage of fund investments are in equities or other even more volatile investments. This would be particularly important to the individual firefighter if the relief association's bylaws specify a "defined contribution" benefit system. Under this approach (also known as "split- the-pie"), the pension a retiree receives is calculated as a percentage of the association's assets at the time the firefighter retires, based on the retiree's total years of service com- pared with the total years of service of all the association members. If the relief association were using heavy equity investments, a retiree could be disadvantaged if he or she happened to retire at a time when the stock market was down. Equity investments could also create a problem for the city if the relief association uses a "defined benefit" system, where the association's bylaws spell out the actual number of dollars of pension it pays per year of service. The financial support the city must contribute each year depends on the comparison of the association's accrued liability for pensions with its assets. The city's contribution is defined as a specified percentage of any deficit. If the association's funds are in equity investments, a slump in the value of those investments could create an actuarial deficit. This in turn would trigger a requirement for increased funding from the city. In short, invest- ing the relief association's funds in equities could make the city's annual financial contribution fluctuate, possibly substantially, and thus complicate the city's budgeting problems. This problem could be compounded because of a change in the law several years ago regarding the procedures for increasing benefits. Formerly, the city needed to approve any relief associa- tion benefit increases. Now, however, if an actuarial surplus exists in the relief association, the association can increase benefits without city approval, up to a specified percentage of the surplus.3 Thus, if a relief association's funds were invested heavily in stocks, for example, and the stock market rose dramatically (as it has over the past 18 months), the association would be able to increase its benefit, based on the existing surplus. However, if the stock market then took a dive, it could create an actuarial deficit. Because the city has a statutory obligation to provide funding for actuarial deficits, the city would be left paying for the cost of those increased benefits. This peculiarity in the law as it applies to defined benefit plans would seem to encourage a relief association to engage in risky investment. After all, it would seem big gains can increase benefits, but big losses won't decrease them. But that's not the whole story. Possible personal liability of those who CHEMICAL TESTING FOR HAZARDOUS WASTE Including PCB's In * Transformer Oil * Water * Waste Water * Sludges For More Information Contact ~v ~ MINNESOTA VALLEY TL TESTING LABORATORY. INC. 326 Center St. New Ulm, MN 56073 328 Chester 51. 51. Paul, MN 55107 In Minnesota Call Toll Free: 1.800.782.3557 Outstate Call Collect 507.354.8517 (New Ulm) 612.228.1851 (St. Paul) 32 Minnesota Cities * I. . speculate and lose is discussed later. If the association decides that equi- ties and other even riskier and more volatile investments have a place in the association's portfolio, the mechanism by which it selects and executes the investment becomes very important. Few treasurers or other officers of associations, nor even most city finance officers, are qualified to handle a sophisticated investment program appropriate for a pension fund. Even if such investing talent is available locally, when small dollar amounts are involved, the time spent in selecting appropriate investments, and high transaction costs for small-lot traders, may still make the rates for certificates of deposit more attractive. ~ The State Board of Investment offers a very economical way to get professional investment management of some or all of these funds, through the Minnesota Supplemental Investment Fund. State law allows relief associa- tions to certify monies for investment in anyone of four accounts offering varying advantages and degrees of risk.4 However, in addition to timing the purchases and redemptions, the association would still need to decide what portion of its assets to put with the state board and which of the four funds to buy shares in. The 1986 Legislature amended the statutes governing relief associations to provide that each officer and member of the board of the relief association is a fiduciary. 5 Each member " . . . shall act in good faith and shall exercise that degree of judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the manage- ment of their own affairs, not for speculation, but for investment, consid- ering the probable safety of their capital as well as the probable income to be derived therefrom." This responsibility means that the association officer could be answerable personally for failure to exercise reasonable control over the investment process. Another 1986 change in the law is an apparent attempt to shield relief funds and association officers from invest- ment losses through mismanagement and dishonesty. The statutes now require the treasurer of each relief association to furnish the association ~th a bond for the faithful discharge of his or her duty. 6 This faithful perfor- mance bond is likely to be about 25 November 1986 percent more expensive than the usual surety or honesty bond, but presum- ably would protect the fund against the treasurer's failure to perform his or her fiduciary duty. The amount of the performance bond must be acceptable to the city council in cities that offer a monthly payment for retired firefighters. In those cities with lump-sum benefits, the bond must be at least 10 percent of the assets of the association. In cases where it could be proved that the treasurer failed to meet the fiduciary standard and a loss resulted, the bond might provide a source to make the fund whole again. - However, in such a case the bonding company could seek to recover its loss from the treasurer. The many recent changes in laws dealing with relief association invest- ments mean that cities must now give this subject some thoughtful attention. Footnotes I M.S. 424A.04 2 M.S. 424A.05, Subd. 4 3 M.S. 424A.02, Subd. 10 4 M.S. llA.17, Subd. 5 5 M.S. llA.09 6 M.S. 69.051, Subd. 2 . ,-: Money ---SA VE~- Downtim:l I I I The next time you need: I I · Know how · Fast turnaround . Repair integrity I CAll MNWATIS 1-800-447-8677 Local 644-0812 M&M HYDRAULIC & EQUI~ CO. 770 Transfer Rd. St. Paul, MN 55114 (Metro-area pickup & delivery) . Cylinders Repacked Barrels honed . Pumps & Motors - Tested - Chrome rods made Rebuilt to mfgs. specs Resealed - Tested . Control Valves - Single or stack-type - Rebuilt to mfgs. specs - Resealed - Tested I I I I I I · We quote you first, then YOU make the decision to rebuild or rep:ace. I L_____________________________~ · We stano behind our overhaul jobs, and offer new replacement units for any units beyond economical repair. 33 Did you know? e Thomas M. Gilbertson Financial responsibility of fire departments At many city clerk meetings, League staff encountered questions regarding financial responsibility in fire depart- ments. We asked Thomas M. Gilbert- son, general counsel, Office of the State Auditor, to provide insight into a few of these queries. Q. What is the fire department fiscal responsibility of a city clerk concerning the investments made by the fire relief association? A. The fire department and fire relief association are two separate entities. The permissible investments for a relief association are much broader under Minnesota Statutes Section llA.24, than those investments allowed for municipal investment. Relief associations must prepare an annual financial report countersigned by the city clerk (M.S. 69.051). The clerk's signature attests to the accu- racy of the statement, not the full compliance with the relief association investment laws. It is the duty of the board of trus- tees, along with the treasurer of the relief association, to determine invest- ment policy for the association. Invest- ment agents may be appointed. The city clerk or (clerk-treasurer or finance director) is an ex-officio member of the board of trustees under M.S. 424A.04. As a trustee, the clerk has a fiduciary . obligation to act in good faith and to exercise the judgment and care in making investment decisions for the relief association that prudent people would exercise in managing their own affairs. (M.S. 11.09A.) The mayor has a similar responsibility. In cities with paid fire departments, the clerk may have responsibility for countersigning disbursements, if the clerk is designated as the municipal representative under M.S. 423A.22. Q. Our fire department has fund rais- ers they use for departmental social activities. Are these funds supposed to be channeled through the city office? A. If these are monies received by the fire department which are intended for the fire department, then they should be turned over to the city treasurer. The fire department is a subordinate department of the city. It is created and funded by the city. A fire depart- ment has no power to receive contri- butions except through statutory authority given to the city (M.S. 465.03). Funds received by the fire depart- ment are subject to the control of the city council and should be turned over to the city treasurer and are subject to regular city controls and disbursement procedures. GARY FORD Ehlers and Associates, Inc. LEADERS IN PUBLIC FINANCE If the question addresses those situ- ations where firefighters, as members of a relief association, engage in fund raising (which is a common practice), monies should be received by the relief association, placed in the association's general fund, and disbursed according to bylaws. These monies are subject to the regular relief association audit. Q. Does the fire chief have authority to spend money for the fire department without consent of council? In one case a fire chief ordered $7,000 in detached fire equipment. A. In statutory cities, the city council creates the fire department (M.S. 412.221, subd. 17.) The city council defines the powers of both the depart- ment and the fire chief. The state law gives no statutory powers to fire chiefs. If the council has given specific prior approval to the fire chief to make a particular purchase, the council would be bound by the purchase. If there was no such approval, then the purchase would be beyond the fire chief's authority. If the city has accepted the equipment and made payments for the same, it may have legally waived its right to claim the fire chief was without authority to make the purchase. ~ 612-389-2312 GF Contracting, Inc. Route 3, Box 255 Princeton, MN 55371 OVER 40 YEARS EXPERIENCE n STEEL ERECTION . SANDBLASTING AND PAINTING ~ I CONTRACT WELDING . GENERAL MAINTENANCE FREEZE-UPS . EMERGENCY SERVICE . FROST JACKETS Lnng-term finanCing and acquisition of funds for municipalities. OFFICES IN MINNEAPOLIS AND WAUKESHA ~7 Marquette Avenue. Minneapolis. MN 55402 . 612.339.8291 October 1987 33 Q. Every four years fire relief associa- .. tions paying monthly retirement bene- W fits must have an actuarial study performed. Is it appropriate for the city to reduce the amount levied if the accrued interest is adequate to buy the current benefit provisions? A. M.S. 69.773, subd. 5 provides that the minimum municipal obligation must be certified to the city by August 1 to be levied in October for the subsequent year. The minimum municipal obligation is derived from the financial require- ~ ments of the special fund as calculated according to M.S. 69.773, subd. 4. Part of this calculation includes a pre- scribed interest earnings assumption applied to assets of the special fund. Annually, this calculation will be affected by actual earnings. Earnings in excess of the assumption increase assets and can reduce required city contnbutions in future years, while actual earnings less than the assump- tion will require an increased municipal contribution or contributions from other e II sources. The requirement of the statute is that the entire municipal obligation be levied. Assuming statutory time periods are followed, variances between actual interest earnings and interest assumptions are adjusted in the subsequent years. In the same way, good or poor yields on investments can lower or increase requirements for city contributions to the plans which pay lump sums. Q. Requests for up to $350 each, limit of five, are made each year for depart- ment members to attend the annual convention. These checks, made paya- ble to individuals, are to be supported by return vouchers, showing break- downs for lodging, meals, travel, etc. The department is reluctant to do this. How should the city handle these requests since no other employees receive such "liberal" freedom? A. M.S. 438.11 grants the council dis- cretion to "appropriate reasonable sums of money as it deems proper" to defray expenses of fire department employees attending the annual convention. Clearly the city council determines what expenses are reimburseable, and in what amounts. In providing for expenses, the council must provide for a per diem in an amount it determines appropriate. If the fire department fails to give the city sufficient information to make such a determination in conformance with its policy, payment cannot be made. The city should set a travel policy for all city employees. The policy should include reimbursable expenses, the amounts, and conditions under which they are reimbursable, and the amount of any per diem payable to firefighters. An expense reimburse- ment system may be administered by establishing an imprest fund for travel advances. When an advance is obtained, upon return, the employee settles with the city by submitting a claim in writing, detailing all claimed expenses for audit and allowance by the council. . NOW OPEN. NEW STORE IN SOUTH MINNEAPOLIS, WITH FREE PARKING' ATTORNEYS AT LAW O'CON NOR &. HAN NAN Serving over 100 Minnesota municipalities in the areas of: o Public Financing, including tax increment financing o Telecommunications/Cable 1V law o Public Hospital representation o Energy & Utility regulatory work o Legislative representation, in Minnesota and Washington, D.C. o Environmental Law o Litigation o Real Estate matters and condemnation Contact: Thomas D. Creighton James P. O'Meara William E. FI)nn Andrew). Shea William R. McGrann 3800 IDS CENTER MINNEAPOLIS. MINNESOTA 55402-2254 16121 341-3800 34 Kinko s has opened a seventh store in the Twin Cities, at 708 W. 66th Street. There is a spacious parking lot in front of the store. Good news for all our Twin Cities customers, and especially those who live or work South of the Crosstown Highway. We have opened a store in Market Plaza, a new shopping mall at 66th Street and Lyndale Avenue South. This store will feature many of our regular services, while emphasizing fast, cooperative service to our customers. Like all our Twin Cities stores, the new location will offer free pick-up and delivery. Unlike most of them it provides plenty of parking for customers who want to do their own driving. kinko.s. copies 708 w. 66th Street 866.1900 Minnesota Cities e member; nor a vote by telephone; nor a vote by a prm.:y could be a valid vote on a statutory city council issue. Some boards have authority to con- du eetings by telephone. For exam- ple, t tate municipal board can conduct me's and hearings by elec- tronic media, times councils and other boards may ac 'thout meeting. In certain circumstances, example, statutory city councils can app e pay- ment of bills before meeting by h 'g a majority of the council members endorse the bill for payment. * A charter city probably could have the charter provide for holding council meetings via electronic media, The city would have to devise procedures that would comply with the open meeting law. For example, it would have to be easily possible for members of the public to listen in on the meeting, to hear all comments from all meeting participants, to identify who is making each comment, to identify how each member votes, and so on. In a situation where most memb ere physically present and one em- be's participating electro ' ally, a fairly , Ie speaker-ph e arrange- e Crack sealing city streets in Owatonna Now, a hot-pour rubberized crack and joint sealant with a three-year guarantee is available for your roads. This sealant conforms to specifications: ASTM01190, 03405, AASHTOM173, Federal SS S-164, SS S.1401 B. Phone (612) 544.3413 1.800.284.4907 FAX (612) 550.1536 e Bergman Companies!I Inc. Suite 275 · 3501 Xenium Lane N. · Plymouth, MN 55441 ment might be sufficient. If members were participating ctroni- cally, other arrangement might be necessary to assure th the public is aware of the meetin and can observe the council's deli ations. Procedure such as designating a proxy to end the meeting and vote on th absent member's behalf, or pe tting an absent member to submit s vote in writing, seem more ques- tionable. By designating a proxy, the elected official would be delegating dis- cretionary duties to another person. While that kind of delegation might be legal if the charter authorized it, having someone other than the person the voters selected make discretionary decisions seems questionable from a public policy standpoint. Similarly, permitting an absent mem- er to submit a written vote seems inc istent with the notion of the counc' a deliberative body. The absent me er would be making a decision withou ving heard or partic- ipated in the discus' of the issue. We don't know of cities that . have adopted charter pr . sions for meeting by electronic media. your city has done so or has consider it, we'd appreciate hearing about yo expenence. Ratifying vOlunteer~. firefighter benefit increases The January 1990 column discussed increasing volunteer firefighter relief association retirement benefits. A relief association that has generated a lot of income from other sources such as charitable gambling may ask the council to ratify an increase in retirement ben- efits with support from gamblin income. Bu~by'ratifying:'aberiefit in~ease;'the. cOul1cilis cornn1ittingthe~]\ tcitjrto pi-ovid~;si1f:fic:ienffundsftomtax ~ ~re"eriu~sto support that level of bene- ,-,.. fits even if the' relief association's other \revenue sourcescIiYup ;,,'>'; The statutes allow a relief associa- tion to increase benefits unilaterally without council ratification if the asso- ciation has sufficient funds. But if in the \ future the funding is no longer suffi- ~ cient, benefits then revert back to the .IJ:' previous level that . the council had ratified. The article suggested that cities consider this alternative as a way to permit firefighters to benefit from --~",...".......,,,,,,.,,~:~,,,,,,, ..."-....::O'.:.'.T..'...,.>~._,_~>.y.~..~...___.___ 34 Minnesota Cities the revenues that gambling now gen- in the future to raise taxes to support erates, but without committing the city the relief association because other to using tax money to replace those revenue sources have decreased. revenues if they dry up. City councils who have been asked The January article didn't make it to ratify benefit increases for the relief clear that this issue only comes up if association based on the association's the relief association uses the t.'rlf"firy~ increased revenues from other sources fbenefit". approach to pensions. In a might want to suggest amending the defined benefit plan, the relief associa- relief association's bylaws to change to tion bylaws spell out exactly how many a defined contribution benefit system. dollars in pension benefits a retirin~1t is a good way to let the firefighters firefighter will receive. For example benefit from the association's increased the bylaws might provide that each revenues from other sources. Yet, it retiree will receive a lump sum of $500 for each year of service. Or a defined benefit plan might provide for a monthly pension of say $10 per month for each year of service. In a defined benefit system, you owe a definite amount at a definite future time. To stay solvent, you have to calculate that amount and make sure you're accumulating enough money now to be able to pay those pensions when they're due. The statutes require the city to provide sufficient funds to support those benefits and keep the association solvent. Since 1979 the statutes have allowed volunteer firefighter relief associations ~.. . to adopt instead a ".defined ~COI1tril>U- . ~tion!.;'- benefit system. In a detm'W contribution system, the bylaws don't spell out a specific amount which the retiree will receive. Instead, the reti- ree's benefit is equal to a pro-rata share of whatever funds are available. That is, a retiree's benefit would equal his or her total years of service divided by the total number of person-years of service for all of the association mem- bers times the total funds the relief association has. This "split-the-pie" system has some advantages for both the city and the firefighters. For the firefighter, it means that if the association's assets are up-because of charitable gambling revenues, higher two percent aid, bete ter investment income, more city sup- port, or whatever-the individual's retirement benefit automatically . creases proportionate to the assets. Si:' From' the' city' sstandpoint- a.... big 'advantage, is that a.relief assoCiation .with a defined contribution benefifplan is\alwaysautomatically' solvent. The r~tiringindividual . isn't guaranteed a specific .' dollar amount, but rather a specific share of whatever funds are ,available. You don't have to worry that the city will be legally forced sometime - .J1~........,_ ...- avoids committing the city to provide ai higher level of financial support if the association's other revenue sources dry up. (Thanks to Hallock city Clerk Henry Noel for his suggestion that we elabo- rate on this point.) . * Authority for conducting municipal board hearings by electronic media is in M.S. 444.011, subd. 8; for councils approving payment of bills, M.S. 412.271, subd. 4. -.:::J All Building Systems Are N OJ Created Equal Fire Station and Community Center, Cologne, Minnesota Are you looking for a building system that costs less to heat, cool, insure, and main- tain? One that does not burn, rust, dent, or rot? Look no further. WELLS has the solution to your building needs. The attractive and yet durable characteristics of precast/prestressed concrete combined with the quality and dependability of WELLS makes their building system unequal to any other. To find out more, call WELLS today! 1-800-658-7049 Box 308 Wells, MN 56097 (507) 553-3138 April 1990 35 GENERAL COUNSEL .CLERK ALERT Municipal financial responsibility related to fire relief associations There are 694 volunteer fire relief asso- ciations in Minnesota. The majority of these associations are non-profit corporations that pay pensions to volunteers in the form oflump sum payments rather than monthly payments. The associations annually receive state aid to partially, and in some cases fully, cover the cost of pension benefits. These associations are subject to financial reporting requirements to both the municipality and our office. A failure to properly make reports and comply with various state law requirements can cause. _ a relief association to lose state fire aid, thus _ potentially increasing the municipal cost to fund the association. We have noted an alarming error rate in the financial reports filed with municipal clerks on or before August 1 of each year. This report is used by the clerk and council to budget for and pay the municipal contribution to the asso- ciation. Errors have resulted in excess certifi- cation for municipal funds when no municipal contribution was due. More problematic are the errors that result in the under-certification for funding which must then be paid by the municipality when our office reviews the forms the following year as part of the certification process for state aid payments. More than 50 percent of the reports filed with municipal clerks have contained errors which impact the municipal contribution. (The report filed is commonly known as Schedule I, II & III.) Beginning in 1993, our office has re- turned the reports to the association with in- structions to correct the errors and refile with the municipal clerk. State aid certification is withheld until the association has refiled. If _ additional funding is due, the deficiency is _ certified to the county auditor for a property tax levy. A copy of the official notice of error from our office is sent to the municipal clerk. During the course of discussion with sev- eral clerks, it became apparent that a number of relief associations either do not file Sched- ule I, II & III at all or file well past the deadline of August I of each year. To remedy the obvious municipal budgeting problems that are created by late ornon-filing, we redesigned the forms to include a Clerk's Certification, effecti ve for forms to be filed with clerks on or before August I of this year. The clerk must certify that the form was filed on time. In addition, the clerk must certify that if a contribution is due, the contri- bution requirement is brought to the municipal governing body for inclusion in the budget and levy, if required. This new certification places affirmative duties on the clerk to insure both that the form is properly filed and that the contribution due is paid prior to the end of the following year. The requirement to file with the clerk is mandatory in all cases, even if a municipal contribution has never been due in past filings. The requirement that the municipality must pay tR.e full amount certified is also manda- tory.~ municipality may pay an additional 'amount beyond the mandatory contribution, . but may not contribute less than the amount '''certified. If the relief association affiliated with your fire department pays lump sum benefits and the association does not file Schedule I & II (formerly Schedule I, II & III) by August I, please contact the treasurer of the association regarding the late filing. If you are unable to obtain the schedules from the association, please contact Ben Pearce at (612) 297-3685 or Krista Boston at (612) 296-5985 for assis- tance. Our office annually provides detailed in- structions for the completion of these sched- ules. Please review the schedules thoroughly prior to certifying them. Errors have, in some cases, resulted in over or under payment in five-figure amounts. These schedules deserve a high level of scrutiny. Our office will con- tinue to review these forms in a detailed man- ner the following year and advise the associa- tion and the clerk if errors which affect the municipal contribution are discovered. State Auditor's Report Summer 1993 . . " SCHKDULB II ======================================================================;======:;z==== Section 1. Calculation of Mina.. Municipal ContributiQll PIlOJ'BCTION OF SPECIAL FUND ASSETS TO DKCBMBBR 31, 1993 ASSETS AT .JANUARY 1, 1993 (12/31/92)-- 1. . BXPBC INC<JtK TO DBCBMBBR 31, 1993 A Minn. State Aid . 38,590 B City- Contribution 19,000 C Funaraisers, etc. 0 . D InterMt, Inv. Iocc.e 54.,491 E Realized Gains (losses) 0 F Unrealized " (losaefiJ) 0 G Other iDC~ 0 TOTAL LDBS A TBROUGB G BEGINNING ASSBTS PLUS UPBCTBD INCaC-- Bxw.cro} ~o: TO DBCBMBBR 31. 19930 I Other benefits 0 .J Adainistrative 2.100 TOTAL OF LINBS B- 1-.1' PROJBCTBD ASSBTS AT 12/31/93 (L.3 - L.4) 681,138 2. . 3. . 112,081 _---<17 . 793,219 4. . 6. . 2, 100 791,119 ==============================================================================~~=:== Section 2. Deteraination of projected SURPLUS orD.FICIT ... ~/3l/93. Projected Assets (Line 6) 6. 79:t..119 Accrued Liability (Line S, Scheclule 1) 7:. 813,9'11 If L.6 > t.. 7, enter difference: SURPLUS Sa. $ 0 If L.7 > L.6, enter difference: DEFICIT 8b. $ 22,852 **Go to Sectioo 3 if SURPLUS *** To Section 4 if DEFICIT** ==================================================================================== Sect;ion 3. . Deterainatioo of 1994 Municipal Contribution (if SURPLUS) IIoraa1 Coat (line C, Schedule 1) 9. . 0 AdIIiDi.trative Expense (1.035 X L. .J) 10. . 0 LefJa : Xl M.inn. state Aid . 0 L 5* of Line 6 $ 0 M 10. of Line Sa . 0 Total Subtractions 11. $ 0 1994 Cit;y Contribution it SURPLUS extata (L. &l). " 12. . 0 ===========================================================;=============..===~===== Section .4. Deter'llination of Municipal Contribution No~1 eo.t (Line C, Scb. 1) 13. . ~rtizatiOD of deficit(.) incurred prior to en4 of 1993 YR ORIGIN. ANT RBT INCUR. N<<>UMT PREY 19 (1) (2) 19 19 Totals . 0 0 TOT ORIG DBF 0 Deduct col (3) total froa L. Bb. If col 3 < r..8b, difference is a NEW DsrICIT. . 22,862 X .10 =----16. * Calculated AdIIiDiatrative BxpeniJe 16. * Total Coste (if I)~ICIT) 73,606 IMl LIFT '1'0 RETIRE (36 o o o 14. * o X .10 = . 2285 2:174 ...-- 78.066 LBSS: N) Minn. State Aid 0) 6* of Line 6 Total Subtractions :: 38,590 .-- 39,556 17. . 18. . 78,146 (81) 1994 Oit,. CoIltributioo. if DlrlOI! exiete (L.lIb) AVERAGB SPECIAL FOND IRCa4B (DOII-invesbleDt) PER MBMBBR FOR PREVIOUS THRBB YEAR PERIOD. . tCI!f STATE LOCAL 1/10 ABNUAL 3 va rr AID TAXES SURPWS TOTAL TOTAL 35 1992 38,590 19,000 57,590 30 1991 38,907 19,000 57,907 31 1990 38,221 18,100 56,321 171,818 32 3m TOT/3/IMBR 57,273 32 :::: $1, 790AVG PER MBR Max pension (Avg. X 1.85) $3,311 ======~=================================================:============~=======.====== CRRTlrIOA'rIOM or SPIfOIAL FUND RBQUIRDIRfTS !his iDforaticm ...t be certified to the clerk of the -.mic~lityor to the independent non-profit firefighting corporation by 08/01193. We, the officers of the Elk Hi ver Firefighters' Relief Association, state that the accOlllp8gyi~ schedules have beeb prepared in accordaDCe with the provisions of the Min. Stat. Ch. 69.772. 8ubd 4. The average .-owt of available fiD8D0W per active ~ for the P!l8t three ~rs was .It 790. Further, benefit levels have beeb established l!! accOrdBDce with the average .-ount of available fiD8DCing, _ required u~ law. ~ iDm. city contributioo for 1994 is: ;0-,. J.... ($81) "' LL . . President Date 7 ( L-""/73 ;:':::r' ____ C ,/ Secretary Date 7/ ;J;o/9-3 u-v, Treasurer Date 7 L;;..o /9 ~ - T ' c=======:~===_ _:====:====:===========================~==============c==~=======:==~ 1'heM SchedUles wre ~ frollll infol"ll8tion ~lctea by Officers of the Belief Association. Prepered by: Gus Welter, consultant 1901 MeadoWiew Road Bl~ington, MN 55425 (612) 864-8856 Oalculated_ 12/31193 ======*================:::========2:================================================ CLBRI'S CERTIrIOATION I _ the clerk (or other desi,gDated official) of the city of Ilk River. I have received the ~leted OFFICI or TIll STAT! AUDITOR SCBIDULBS I & II f~ the Elk River riref'~ters Relief Association 011 . 1.1993. I have reviewed Section 2 linea 8, 12 and 18. It liiie 12 or 1 De 18 reflects a.required llUDiclpal contributionl I certify that I will so advise the .lIUDici~l governing b9dY at ts next regularly scheduled Meti~. . If the Certification of' the Officers discloses that the Bylaws have hieD. .-ended to pr:ovide a bebefit increase, I certify that the llUDic~1 governing bOdy has passed a resolution which ~roves the clumge iD the byl...A copy of the resolution is attached (1 required).. Date ,1993 Signature Phone, ~itle (Note: 'ailure to file this doct.ent in a tille1y 1IBDDer, whether or iJot a -.micipal contribution is required, will result in 1088 of state aid.) .