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CITY OF SOUTH BEND
<br />NOTES TO FINANCIAL STATEMENTS
<br />(Continued)
<br />Liabilities
<br />Officers' Firefighters'
<br />Accounts payable 89 9,181
<br />Noncurrent liabilities:
<br />DROP payable - due within one year 57,449 52,186
<br />DROP payable - long -term 798,534 1,294,490
<br />Total liabilities 856,072 1,355,857
<br />Net Assets
<br />Held in trust for pension benefit obligations $ 914,732 $ 840,644
<br />Statements of Changes in Fiduciary Net Assets:
<br />55
<br />1925 Police
<br />1937
<br />Officers'
<br />Firefighters'
<br />Pension
<br />Pension
<br />Additions
<br />Contributions:
<br />Employer
<br />$ 4,166,071
<br />$ 4,032,357
<br />Plan members
<br />63,009
<br />45,660
<br />Other
<br />5,021
<br />-
<br />Total contributions
<br />4,234,101
<br />4,078,017
<br />Investment income:
<br />Interest
<br />17,602
<br />19,863
<br />Total additions
<br />4,251,703
<br />4,097,880
<br />Deductions
<br />Benefits and refunds paid to plan members
<br />and beneficiaries
<br />5,302,155
<br />5,311,625
<br />Administrative expenses
<br />4,629
<br />2,786
<br />Total deductions
<br />5,306,784
<br />5,314,411
<br />Changes in net assets
<br />(1,055,081)
<br />(1,216,531)
<br />Net assets - beginning
<br />1,969,813
<br />2,057,175
<br />Net assets — ending
<br />$ 914,732
<br />$ 840,644
<br />55
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