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46 - NB-6 - Attachment E - 2/4/2014
City of Costa Mesa - Safety Fire Plan Side Fund Amortization Schedule @7.50% PROJECTION 1 PROJECTION 2 PROJECTION 3 Valuation at 6/30/2012 New New New Side Fund Projected Special Side Fund Special Side Fund Special Side Fund Date Balance Payment Payroll Rate Payment Balance Payment Payment Balance Payment Payment Balance Payment 6/30/2010 (22,960,635) 1,518,711 6/30/2011 (24,530,390) 1,568,069 w/ golden handshake 6/30/2012 (24,803,797) 1,661,369 12,768,459 13.012% 6/30/2013 (24,941,538) 1,826,662 10,296,027 17.741% 6/30/2014 (24,918,230) 1,881,462 10,513,535 17.896% 1,000,000 (23,918,230) 1,933,664 1,226,551 (23,691,679) 1,915,348 1,489,776 (23,428,454) 1,894,068 6/30/2015 (24,836,356) 1,937,905 10,828,941 17.896% - (23,707,232) 1,991,674 233,348 (23,249,332) 1,953,205 504,469 (22,717,307) 1,989,851 6/30/2016 (24,689,820) 1,996,043 11,153,809 17.896% (23,420,263) 2,051,424 240,348 (22,727,558) 1,990,748 519,603 (21,838,381) 2,001,914 6/30/2017 (24,472,015) 2,055,924 11,488,424 17.896% (23,049,822) 2,112,966 247,558 (22,120,515) 2,131,333 535,191 (20,865,439) 2,123,593 6/30/2018 (24,175,789) 2,117,602 11,833,076 17.896% (22,587,788) 2,176,355 254,985 (21,314,755) 2,169,322 551,247 (19,677,312) 2,127,694 6/30/2019 (23,793,397) 2,181,130 12,188,069 17.896% (22,025,379) 2,241,646 262,635 (20,401,526) 2,206,003 567,785 (18,379,286) 2,292,623 6/30/2020 (23,316,459) 2,246,564 12,553,711 17.896% (21,353,094) 2,308,895 270,514 (19,373,894) 2,240,894 584,818 (16,795,872) 2,281,946 6/30/2021 (22,735,906) 2,313,960 12,930,322 17.896% (20,560,662) 2,378,162 278,629 (18,224,899) 2,476,099 602,363 (15,087,228) 2,531,292 6/30/2022 (22,041,934) 2,383,379 13,318,232 17.896% (19,636,981) 2,449,507 286,988 (16,737,504) 2,507,389 620,434 (12,973,836) 2,488,239 6/30/2023 (21,223,939) 2,454,881 13,717,779 17.896% (18,570,051) 2,522,992 295,598 (15,097,503) 2,533,016 639,047 (10,727,967) 2,961,572 6/30/2024 (20,270,460) 2,528,527 14,129,312 17.896% (17,346,911) 2,598,682 304,466 (13,299,063) 2,550,613 658,218 (7,803,723) 2,813,140 6/30/2025 (19,169,112) 2,604,383 14,553,191 17.896% (15,953,558) 2,676,643 313,600 (11,338,361) 3,130,078 677,965 (4,794,312) 2,538,557 6/30/2026 (17,906,513) 2,682,514 14,989,787 17.896% (14,374,873) 2,756,942 323,008 (8,620,396) 3,107,540 698,303 (1,823,550) 1,890,697 6/30/2027 (16,468,212) 2,762,990 15,439,481 17.896% (12,594,530) 2,839,650 332,698 (5,712,262) 3,024,605 6/30/2028 (14,838,599) 2,845,879 15,902,665 17.896% (10,594,908) 2,924,840 342,679 (2,662,025) 2,760,047 6/30/2029 (13,000,823) 2,931,256 16,379,745 17.896% (8,356,987) 3,012,585 (0) 6/30/2030 (10,936,694) 3,019,194 16,871,138 17.896% (5,860,247) 3,102,962 6/30/2031 (8,626,580) 3,109,769 17,377,272 17.896% (3,082,546) 3,196,051 6/30/2032 (6,049,296) 3,203,062 17,898,590 17.896% (0) 6/30/2033 (3,181,987) 3,299,154 18,435,548 17.896% 6/30/2034 - 18,988,614 0.000% Total Payments 50,555,578 46,275,642 41,909,844 38,584,404 Totallnterest 25,637,348 21,357,412 16,991,614 13,666,175 Savings 4,279,936 8,645,734 11,971,173 interest 7.50% wage 3.00% m