Note 4.
Other Notes A.
Retirement Systems IPERS
The City contributes to the lowa Public Employees Retirement System (IPERS) which is a cost- sharing multiple-employer defined benefit pension plan administered by the State of lowa. 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, lowa, 50306-91 17.
Plan members are required to contribute 5.78% of their annual covered salary and the City is required to contribute 8.67% of annual covered payroll. Contribution requirements are established by State statute. The City's contributions to IPERS for the years ended June 30, 2013, 2012 and 2011 were $822,374, $771,437 and $619,003 respectively, equal to the required contributions for each year.
Municipal Fire and Police Retirement System of lowa
The City contributes to the Municipal Fire and Police Retirement System of lowa (the Plan), which is a cost-sharing, multiple-employer defined benefit pension plan administered by a Board of Trustees. The Plan provides retirement, disability and death benefits, which are established by State statute to plan members and beneficiaries. The Plan issues a publicly available financial report that includes financial statements and required supplementary information. The report may be obtained by writing to Municipal Fire and Police Retirement System of lowa, 7155 Lake Dr., West Des Moines, lowa 50266.
Plan members are required to contribute 9.40Yo of earnable compensation and the Gity's contribution rate may not be less than 26J2% of earnable compensation. Contribution requirements are established by State statute. The City's contributions to the Plan for the years ended June 30, 2013, 2012, and 2011 were $1,144,556, $1,080,516 and $798,970 respectively, which met the required minimum contribution for each year.
B.
Due To/From Gomponent Unit Amounts due from the component unit to the general fund at June 30, 2013, were as follows Due from
Component Unit:
Electric utility Gas utility Total
$ $ 850J00
750,000 100.000
This amount differs from the amount reported as due to primary government since the Electric Utility and Gas utility component units have a calendar year end of December 31,2012.
c Related Party Transactions
During the fiscal year ended June 30, 2003, the Black Hawk County Solid Waste Management Commission, which is a jointly governed organization, passed a resolution for annual distributions of its excess funds. The prorated share for the City of Cedar Falls was at.$564,721to be received each year. However, in 2012,the commission decided to reduce the payments to $29g,534for FY2O13 &
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