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i <br /> TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 303, 1986 <br /> h <br /> share of the cost on a pay-as-you-go basis by contributing annually the amount �! <br /> determined by the State Division of Insurance. Such amount is a legal obliga- <br /> tion of the town and is required to be included in its annual tax levy. The <br /> retirement system covers all municipal employees except school teachers, whose <br /> pensions are administered by the Massachusetts Teachers' Retirement Board. The <br /> annual contributions of the town to the retirement system for the last five <br /> fiscal years and for the current fiscal year are as follows: <br /> i, <br /> Fiscal Year Amount <br /> I <br /> 1986 $165,532 . <br /> 1985 $148,408 <br /> 1984 $126,563 <br /> 1983 $109,146 <br /> 1982 $107,640 <br /> 1981 $ 99,330 <br /> The Barnstable County Retirement System determined, as of January 1, 1983, <br /> the total estimated unfunded actuarial liability of the county was $68,014,662. <br /> The Town of Mashpee's estimated share as of this date is $1,404,949. <br /> i' <br /> Source: Massachusetts Retirement Law Commission. <br /> These estimates were used by the Commission in computing <br /> actuarial liabilities of local systems for inclusion in <br /> its Actuarial Valuation Report of the Contributory Retire- <br /> ment Systems of the Commonwealth of Massachusetts dated <br /> January 1, 1983. Estimates of actuarial liabilities depend <br /> on the underlying actuarial assumptions and reference is <br /> ,y made to the report for a description of those assumptions. <br /> 10. Due From Other Governments <br /> The town has accrued as income the July, 1986 entitlement from the Office of <br /> Revenue Sharing of $31,623. -.!x <br /> e; <br /> Z TYj <br />