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Disclosure Exhibits <br />Summary of Annual OPEB Costs <br />Annual Plan % of Annual <br />Sponsor Annual OPEB OPEB Cost Net OPEB <br />Year Ended Contributions Cost Contributed Obligation <br />December 31, 2012 $ 157 $ 19,174 0.8% $ 112,319 <br />December 31, 2011 457 30,922 1,5% 93,302 <br />December 31, 2010 321 31,420 1.0% 62,837 <br />Dote: An employer contribution different from the amount shown will change the year -end Net OPEB <br />Obligation. When preparing your disclosures at December 31, 2012, 2013, and 2014, please contact <br />Hildi Inc. <br />Funded Status and Funding Progress <br />Valuation Date <br />January 1, 2012 <br />1. Actuarial Accrued Liability (AAL) $ 105,338 <br />2. Actuarial Value of Plan Assets 0 <br />3. Unfunded Actuarial Accrued Liability (UAAL) 105,338 <br />4. Funded Ratio (2. - 1) 0.0% <br />5. Covered Payroll (active plan members) 580,558 <br />6. UAAL as a Percentage of Covered Payroll (3. � 5.) 18.1% <br />Required Supplementary Information <br />The same items shown above under Funded Status and Funding Progress must be shown for the <br />most recent actuarial valuation date as well as the preceding two valuation dates. <br />City of Pequot Lakes <br />Page 10 <br />