Comprehensive Annual Financial Report - Cobb County
Comprehensive Annual Financial Report - Cobb County
Comprehensive Annual Financial Report - Cobb County
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<strong>Cobb</strong> <strong>County</strong>, Georgia<br />
Fiduciary Funds<br />
Statement of Changes in Fiduciary Net Assets<br />
For the Fiscal Year Ended September 30, 2007<br />
Pension Trust Fund<br />
Employee<br />
Retirement<br />
System<br />
Additions<br />
Contributions:<br />
Employer $ 20,587,589<br />
Employee 9,289,249<br />
Total contributions $ 29,876,838<br />
Investment earnings:<br />
Net appreciation (depreciation) in fair value of assets $ 33,350,769<br />
Interest 7,140,604<br />
Total investment earnings $ 40,491,373<br />
Less investment expense (882,830)<br />
Net investment earnings $ 39,608,543<br />
Miscellaneous revenue $ 126,115<br />
Total additions $ 69,611,496<br />
Deductions<br />
Administrative expenses $ 70,410<br />
Benefits and claims 24,034,692<br />
Total deductions $ 24,105,102<br />
Change in net assets $ 45,506,394<br />
Net assets held in trust for pension benefits<br />
Beginning of year $ 290,243,750<br />
End of year $ 335,750,144<br />
See accompanying notes to financial statements. 31
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