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� <br />Pequot Lakes Fire Department Relief Association <br />Current balances indicate that we are over solvent within the Pequot Lakes Fire Department Relief <br />association Special Fund. This is due to the decrease in active firefighters from 32 to 29, as well as <br />significant gains from our investments. The members of the association voted to increase the yearly <br />pension rate from 2,900.00 to 3,300.00 at the 2011 annual meeting. In order to complete the raise in <br />benefit, we are seeking municipa) ratification pursuant to Minnesota Statute 69.772 subd 6. <br />Money Market Balance: <br />a. UBS <br />b. CD #20191 Jumbo <br />c. CD #2629 Regular COD <br />d. CD #2220212 Month <br />e. CD#22203 24 Month <br />f. CD# 2229118 Month <br />g. SBI Growth <br />h. 561 Income Share <br />TOTAL SPECIAL FUND Dec 31, 2010 <br />Liabilities <br />� Deferred Members <br />Active Members <br />TOTAL CURRENT LIABILITIES <br />Currently over solvent <br />3 Members <br />29 Members <br />$80,052.88 <br />$13,507.07 <br />$131,056.97 <br />$87,998.15 <br />$101,514.43 <br />$101,781.02 <br />$100,000.00 <br />$109,449.40 <br />$229.190.50 <br />$954,550.50 <br />$59,904.00 <br />$740,718.00 <br />$800,622.00 <br />$153,928.50 <br />2011 Estimated Income <br />Municipa) Contributions $50,000.00 <br />State Fire Aid $27,400.00 <br />*Gains from investments estimated @5% 535,557.10 <br />$112,957.10 <br />2011 Estimated Expenses <br />Administration fees $5,600.00 <br />Pensions 510,454.44 <br />Tota) $16,054.50 <br />2011 Year End Estimated Fund Balance <br />Special Fund $954,550.00 <br />Income $112,957.10 <br />Expenses ($16,054.50) <br />TOTAL $1,051,425.60 <br />Description Benefit 2010 LIABILITY 2011 LIABILITY <br />� Current $2,900.00 $800,622.00 $817,762.00 <br />Voted Rate $3,300.00 $902,790.00 $993,870.00 <br />