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The fund has $22,450,575 in total assets. If the fund’s annual losses stay the same, it would run out of money in 11 years without these subsidies.
The fund lost $732,802 in investment income and other revenue in 2018. At the same time, it paid out $1,378,380 in expenses, according to the 2019 biennial report detailing the health of each of the state’s pension funds and retirement systems. The difference between the two shows the fund’s annual loss without subsidies.
Taxpayers added $4,514,169 to the fund’s revenue last year – an amount that has increased from $1,014,462 five years ago. Members contributed an additional $377,882 – $46,023 less than five years ago.
In all, subsidies amounted to $4,892,051 in 2018.
Northlake Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | -$732,802 | $1,378,380 | -$2,111,182 |
| 2017 | $2,147,564 | $1,380,971 | $766,593 |
| 2016 | $698,657 | $1,267,659 | -$569,002 |
| 2015 | $35,756 | $1,289,373 | -$1,253,617 |
| 2014 | $815,447 | $1,438,565 | -$623,118 |
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