Notes to the Financial Statements

June 30, 2013

Note 15 OPEB Trust Fund Financial Statements

The financial statements of the OPEB trust funds are prepared using the accrual basis of accounting. Plan member and municipality contributions are recognized in the period in which they are due. State contributions are recognized in the period they are appropriated. Benefits are recognized when due and payable in accordance with the terms of each plan. Investment income and related investment expense of the Combined Investment Funds are allocated ratably to the PFSBF trust fund based on the fundís equity in the Combined Investment Funds.

Statement of Fiduciary Net Position (000's)
State Retired Policemen and
Employees' Teachers' Firemen Total
Assets
Cash and Cash Equivalents $43,756 $103,766 $- $147,522
Receivables:
From Other Funds 6,658 2,018 - 8,676
Investments 100,732 - 23,976 124,708
Securities Lending Collateral 6,274 - 3,653 9,927
Total Assets 157,420 105,784 27,629 290,833
Liabilities
Accounts Payable and Accrued Liabilities 7,338 8,080 - 15,418
Securities Lending Obligation 6,274 - 3,653 9,927
Total Liabilities 13,612 8,080 3,653 25,345
Net Position
Held in Trust For Other
Postemployment Benefits 143,808 97,704 23,976 265,488
Total Net Position $143,808 $97,704 $23,976 $265,488

Statement of Changes in Fiduciary Net Position (000's)
  State
Employees'
Retired
Teachers'
Policemen,
Firemen, and
 Survivors'
Benefit
Total
Additions
Contributions:
Plan Members $27,504 $85,450 $471 $113,425
State 542,615 27,040 - 569,655
Municipalities - - 54 54
Total Contributions 570,119 112,490 525 683,134
Investment Income (Loss) (56) 125 2,006 2,075
Less: Investment Expenses 2 - (62) (60)
Net Investment Income (54) 125 1,944 2,015
Total Additions 570,065 112,615 2,469 685,149
Deductions
Administrative Expense - 2,921 - 2,921
Benefit Payments and Refunds 485,969 100,311 1,046 587,326
Other 5 5 - 10
Total Deductions 485,974 103,237 1,046 590,257
Changes in Net Position 84,091 9,378 1,423 94,892
Net Position Held in Trust For
Other Postemployment Benefits:
Beginning of Year 59,717 88,326 22,553 170,596
End of Year $143,808 $97,704 $23,976 $265,488