2019 City of Shakopee Comprehensive Annual Financial Report

CITY OF SHAKOPEE

SCHEDULE OF COMPONENT UNIT CONTRIBUTIONS LAST 10 YEARS GENERAL EMPLOYEES RETIREMENT FUND

Contributions in Relation to the Statutorily

Required Statutorily

Deficiency Contribution

a percentage of Covered Payroll Contributions as

Required

City's Covered

Year Ended December 31, 2019 December 31, 2018 December 31, 2017 December 31, 2016 December 31, 2015 For the Fiscal

Contribution

Contributions

(Excess)

Payroll

$

315,791 299,473 273,227 339,188 350,018

$

315,791 299,473 273,227 339,188 350,018

$

- - - - -

$

4,210,547 3,992,973 3,643,027 4,522,507 4,666,907

7.5% 7.5% 7.5% 7.5% 7.5%

* Schedule is to be provided prospectively beginning with the City's fiscal year ended June 30, 2015, or after.

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