Comprehensive Annual Financial Report (CAFR) - Johnson City

CITY OF JOHNSON CITY, TENNESSEEREQUIRED SUPPLEMENTARY INFORMATIONANALYSIS OF FUNDING PROGRESS FOR DEFINED BENEFIT PENSION PLANSFor the Fiscal Year Ended June 30, 2011Schedule of Funding Progress for the City of Johnson City(Dollar Amounts in Thousands)ActuarialUAALasaActuarial Accrued Unfunded Annual PercentageActuarial Value of Liability (AAL) AAL Funded Covered Of CoveredValuation Plan Assets -Entry Age (UAAL) Ratio Payroll PayrollDate (a) (b) (b-a) (alb) (c) ((b-a)/c)July 1, 2009 $ 127,885 $ 162,239 $ 34,354 78.83% $ 38,691 88.79%The Governmental Accounting Standards Board (GASB) requires the plan to prepare the Schedule ofFunding Progress using the entry age actuarial cost method. The requirement to present the Schedule ofFunding Progress using the Entry Age actuarial cost method went into affect during the year of the 2007actuarial valuation, therefore only the three most recent valuations are presented.Schedule of Funding Progress for the Johnson City Power Board(Dollar Amounts in Thousands)ActuarialUAAL as aActuarial Accrued Unfunded Annual PercentageActuarial Value of Liability (AAL) AAL Funded Covered of CoveredValuation Plan Assets -Entry Age (UAAL) Ratio Payroll PayrollDate (a) (b) (b-a) (alb) (c) ((b-a)/c)July 1, 2009 $ 28,936 $ 38,581 $ 9,645 75.00% $ 9,303 103.67%The Governmental Accounting Standards Board (GASB) requires the plan to prepare the Schedule ofFunding Progress using the entry age actuarial cost method. The requirement to present the Schedule ofFunding Progress using the Entry Age actuarial cost method went into affect during the year of the 2007actuarial valuation, therefore only the three most recent valuations are presented.133