Resolutions-2018-005

Bargaining Units/Labor Contracts The labor unions representing certain City employee groups are shown below. Employee Group Contract Expiration Date AFSCME June 30, 2020 Employee Pension Programs The City contributes to the Iowa Public Employees Retirement System (IPERS), which is a cost-sharing, multiple employer defined benefit pension plan administered by the State of Iowa. IPERS provides retirement and death benefits which are established by state statute to plan members and beneficiaries. IPERS issues a publicly available financial report that includes financial statements and required supplementary information. The report may be obtained by writing to IPERS, P.O. Box 9117, Des Moines, Iowa 50306-9117. Most regular plan members are required to contribute 5.95% of their annual covered salary and the City is required to contribute 8.93% of covered salary. Certain employees in special risk occupations and the City contribute an actuarially determined contribution rate. Contribution requirements are established by state statute. The City contributions to IPERS for the fiscal years 2009 through 2016 are as follows: <table> <tr> <th>Year</th> <th>Amount</th> <th>Year</th> <th>Amount</th> </tr> <tr> <td>2016</td> <td>$38,374</td> <td>2012</td> <td>$31,345</td> </tr> <tr> <td>2015</td> <td>34,237</td> <td>2011</td> <td>30,212</td> </tr> <tr> <td>2014</td> <td>39,436</td> <td>2010</td> <td>27,199</td> </tr> <tr> <td>2013</td> <td>35,942</td> <td>2009</td> <td>18,339</td> </tr> </table> Other Postemployment Benefits (OPEB) In August 2004, the Governmental Accounting Standards Board (GASB) issued Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions, effective for the City’s fiscal year 2010. Statement No. 45 requires accrual-based measurement, recognition and disclosure of other postemployment benefits (OPEB) expense, such as retiree medical and dental costs, over the employees’ years of service, along with the related liability, net of any plan assets. The City has no plans that would result in an OPEB liability and, therefore, the City anticipates it will not incur any future explicit or implicit OPEB costs for its employees and, therefore, no liability will be recorded. Estimated Cash/Investment Balances as of January 2, 2018 (unaudited) <table> <tr> <th>Fund</th> <th></th> </tr> <tr> <td>General Fund</td> <td>$ 918,847</td> </tr> <tr> <td>Special Revenue Funds</td> <td>600,804</td> </tr> <tr> <td>Debt Service Fund</td> <td>425,781</td> </tr> <tr> <td>Tax Increment Financing Fund</td> <td>541,098</td> </tr> <tr> <td>Enterprise Funds</td> <td>998,424</td> </tr> <tr> <td>Total Estimated Cash/Investment Balances</td> <td><b>$3,484,954</b></td> </tr> </table>