Comprehensive Annual Financial Report - City of Santa Monica
Comprehensive Annual Financial Report - City of Santa Monica
Comprehensive Annual Financial Report - City of Santa Monica
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
CITY OF SANTA MONICA, CALIFORNIA<br />
Notes to Basic <strong>Financial</strong> Statements, Continued<br />
For the fiscal year ended June 30, 2009<br />
OPEB FUNDING INFORMATION (dollars in thousands):<br />
Type <strong>of</strong> Valuation<br />
Valuation<br />
date<br />
(July 1)<br />
Actuarial<br />
value <strong>of</strong><br />
assets<br />
Actuarial<br />
accrued<br />
liability<br />
Unfunded<br />
actuarial accrued<br />
liability (UAAL)<br />
<strong>Annual</strong><br />
covered<br />
payroll<br />
UAAL as a<br />
percentage <strong>of</strong><br />
payroll Interest rate Salary Scale<br />
Funded ratio<br />
Actual 2008 $ - $ 17,721 $ 17,721 - % $ 128,622 13.78% 5.00% 3.25%<br />
Actual 2007 - 16,518 16,518 - % 124,253 13.29% 5.00% 3.25%<br />
87
Change language