Page 129 - Southlake FY23 Budget

CITY PROFILE

tmrS funDeD ratio & amortization PerioD

AMORTIZATION PERIOD (YEARS) FUNDED RATIO
25 110.0%

99.8%
96.9% 97.0% 100.0%
20 95.1%
92.2% 92.7% 92.8%
90.1% 90.8% 91.1% 91.1%
88.7% 89.0% 89.0% 89.1%
87.1% 87.6% 87.7% 90.0%
15
FUNDED RATIO (%)
80.0%

10
70.0%

5
57.4% 60.0%

0 50.0%

Desired Funded
Ratio Range

Population
As of December 31, 2021 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 88.7% 19.3 Grapevine 87.6% 19.2
Arlington 99.8% 3.7 Hurst 95.1% 12.8
Bedford 57.4% 21.8 Keller 87.7% 11.4
Carrollton 97.0% 22.2 McKinney 87.1% 20.3
Colleyville 96.9% 11.1 North Richland Hills 90.8% 21.9
Coppell 89.1% 14.1 Plano 92.7% 21.8
Euless 92.2% 18.7 Richardson 92.8% 16.5
Farmers Branch 90.1% 21.1 University Park 91.1% 13.8
Flower Mound 89.0% 18.8 Southlake 91.1% 16.2
Frisco 89.0% 12.4

128 FY 2023 City of Southlake | BUDGET BOOK
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