Page 135 - Southlake FY22 Budget

CITY PrOFILE

Tmrs funded raTiO & amOrTizaTiOn PeriOd

AMORTIZATION PERIOD (YEARS) FUNDED RATIO
25 110.0%

98.8%
96.5% 96.8% 97.3% 100.0%
20
93.9%
92.2% 92.3%
89.7% 90.1% 90.6% 91.6%
88.0% 88.4% 88.5%
86.1% 86.4% 87.0% 87.4% 90.0%
15
FUNDED RATIO (%)
80.0%

10
70.0%

5
60.0%
53.0%
0 50.0%

Desired Funded
ratio range

As of December 31, 2020 Population
FTEs
This chart reflects the funded ratio and the amortization period for the City of Southlake and its benchmark cities
with Texas Municipal Retirement System (TMRS). The funded ratio is the ratio of the actuarial value of assets to the
actuarial accrued liability. Ratios above 80% are considered to be positive. The amortization period is the period
over which the existing unfunded actuarial accrued liability is projected to be paid off. As you can see, the Southlake
currently has the longest amortization period, compared to its benchmark cities. The City is actively working to raise
the funded ratio and lower the amortization period by exceeding the annual contribution requirement.

Amortization Amortization
City Funded Ratio City Funded Ratio
Period (Years) Period (Years)
Allen 88.5% 23.0 Grapevine 87.0% 17.1
Arlington 98.8% 22.5 Hurst 93.9% 14.7
Bedford 53.0% 20.2 Keller 86.1% 19.7
Carrollton 96.8% 12.2 McKinney 86.4% 22.9
Colleyville 96.5% 20.5 North Richland Hills 90.6% 17.3
Coppell 88.4% 19.8 Plano 92.3% 13.5
Euless 91.6% 13.4 Richardson 92.2% 12.0
Farmers Branch 89.7% 14.9 University Park 97.3% 6.5
Flower Mound 88.0% 22.1 Southlake 90.1% 23.2
Frisco 87.4% 22.9

134 FY 2022 City of Southlake | BUDGET BOOK
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