6. Required Supplementary InformationUL
AM,
CITY OF KALISPELL, MONTANA
SCHEDULE OF FUNDING PROGRESS — OTHER POST -EMPLOYMENT HEALTHCARE BENEFITS
Fiscal Year Ended June 30, 2011
Because the year ended June 30, 2009 was the year of transition for GASB Statement No. 45, requirements of GASB
Statement No. 45 have been implemented prospectively. Therefore, the below illustration does not reflect similar
information respective of years preceding June 30, 2009. The annual OPEB costs, the percentage of OPEB cost
contributed to the plan, and the net OPEB obligation for June 30, 2011 for the Retiree Health Plan are as follows:
ANNUAL OPEB COST
Retiree Health Plan
Year
Ended
Annual OPEB
Cost
Annual
Employer
Contribution
(implicit)
Percentage of
OPEB Cost
Contributed
Net OPEB
Obligation
6/30/2009
$ 282,232
0.0%
$ 282,232
6/30/2010
$ 284,621
0.0%
$ 566,853
6/30/2011
$ 240,193
$ 72,790
30.3%
$ 734,256
The Funded status of the plan was as follows:
Actuarial
Actuarial
Accrued
Value of
Liabilily
Unfunded AAL
Actuarial Valuation Date
Assets
AAL
UAAL
(a)
(b)
(b-a)
6/30/2009
$ -
$3,008,915
$ 3,008,915
6/30/2010
$ -
$ 3,008,915
$ 3,008,915
6/30/2011
$ -
$2,145,522
$ 2,145,522
Changes in plan provisions
There were no benefit changes for the 2010-2011 plan year.
70
Funded Annual Covered
Ratio Payroll
(a/b) (c)
0% $ 9,993,776
0% $ 9,237,558
0% $ 9,468,410
UAAL as a
Percentage of
Covered Pavroll
((b- a)/c)
30%
33%
23%
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