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i <br /> TOWN OF MASHPEE, MASSACHUSETTS <br /> NOTES TO FINANCIAL STATEMENTS <br /> JUNE 30, 1987 <br /> of the treasurer of approximately $139,577 to provide for a portion of their <br /> unfunded actuarial pension obligation. <br /> The pension systems do not obtain actuarial valuations nor provide actuarial <br /> pension provisions on an annual basis. As of January 1, 1983, the most recent <br /> actuarial valuation date, the unfunded liability for vested pension benefits were <br /> $1,404,949. <br /> 11. Unemployment Compensation <br /> The town is on the reimbursable method of paying unemployment compensation. <br /> Under the reimbursable method, the Massachusetts Employment Security Division <br /> sends a monthly list to the community that has received the benefits. The <br /> community then reimburses the Massachusetts Employment Security Division for these <br /> claims against the town. <br /> 12. Commitments and Contingencies <br /> Numerous lawsuits are pending or threatened against the town, including those <br /> claims asserted which are incidental to performing ordinary governmental functions. <br /> Such litigation includes actions commenced and claims asserted against the town <br /> for property damage and personal injury and other alleged violations of law. The <br /> town has not estimated any potential liability from these claims. <br /> The town receives financial assistance from federal and state agencies in the <br /> form of grants for specified use in accordance with the grant agreements. Any <br /> disallowed costs incurred by the grants could become a liability of the General <br /> Fund. Based on prior experience, town officials believe such disallowances, if <br /> any, would not have a material effect on the financial statements. <br /> 30 <br />