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21

City of Raleigh

Financial Section

STATEMENT OF CHANGES IN FIDUCIARY NET POSITION

FIDUCIARY FUNDS

For the Fiscal Year Ended June 30, 2016

Pension

Trust Funds

ADDITIONS

Employer contributions

$                      17,760,174 

Retiree contributions

                          2,271,037 

Interest

                          2,837,830 

Net increase (decrease) in the fair value of investments

                        (3,262,227)

Recovery of claims

                               81,991 

Less investment expense

                             (81,800)

Total additions

19,607,005

DEDUCTIONS

Benefits

                        19,542,581 

Withdrawals and forfeitures

                             214,912 

Professional services

                               19,425 

Total deductions

19,776,918

Change in net position restricted for:

Employees' retirement and other post-employment benefits

                           (169,913)

Net position, beginning of year

                        79,537,121 

Net position, end of year

79,367,208

$                      

The notes to the financial statements are an integral part of this statement.

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