Southtowns Record

2023 Town of Boston - Budget Presentation

Government
Town of Boston
Posted by publisher
Oct 1, 2026
Kind
Budget
Topics
Budget and taxes, Water, sewer and drainage, Public safety, Zoning and land use, Parks and recreation, Roads and traffic, Audits and oversight

Original document

Text · page 58 of 132

Read the whole document on one page (all 132 pages, each with its own heading)

Fire LOSAP
Year  Town  Suggested  Excess  Jan 1st Net  Actuarial  Unfunded  Funded
  Contribution  Contribution  (Deficit) in  Program  Accrued  Liability  Ratio
  Contributions  Assets (A)  Liability (B)  (B) – (A)  (A) / (B)
2013  $190,000  $277,401  ($87,401)  $2,823,282  $4,206,900  $1,383,617  67%

2014  $250,000  $269,682  ($19,682)  $2,884,557  $4,353,902  $1,469,325  66%

2015  $250,000  $305,941  ($55,941)  $2,862,302  $4,773,764  $1,911,462  60%

2016  $250,000  $395,731  ($145,731)  $2,701,947  $5,436,844  $2,734,897  50%

2017  $150,000  $378,920  ($228,920)  $2,704,923  $5,483,157  $2,778,234  49%

2018  $150,000  $395,806  ($245,806)  $2,696,928  $5,530,110  $2,833,182  49%

2019  $200,000  $427,111  ($227,111)  $2,350,328  $5,623,064  $3,272,736  42%

2020  $200,000  $406,935  ($206,935)  $2,597,368  $5,700,428  $3,103,060  46%

2021  $200,000  $407,550  ($207,550)  $2,549,887  $5,608,312  $3,058,424  45%

2022  $193,189  $397,518  ($4,329)  $2,612,629  $5,623,649  $3,011,020  46%
  $200,000

  Net Program Assets = the value of the cash, stocks, bonds held in the
  Not once in the past 10 years  fund and being invested
  did the Town meet the
  suggested contribution  Actuarial Accrued Liability = The benefits earned by the firefighters via
  service points that the Town will be obligated to pay out  64