Comprehensive Annual Financial Report - City of Santa Monica
Comprehensive Annual Financial Report - City of Santa Monica
Comprehensive Annual Financial Report - City of Santa Monica
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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 />
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