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The fund has $6,032,910 in total assets. If the fund’s annual losses stay the same, it would run out of money in 68 years without these subsidies.
The fund earned $345,011 in investment income and other revenue in 2018. At the same time, it paid out $433,847 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 $412,709 to the fund’s revenue last year – an amount that has increased from $210,000 five years ago. Members contributed an additional $81,687 – $12,990 more than five years ago.
In all, subsidies amounted to $494,396 in 2018.
Geneseo Police Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2018 | $345,011 | $433,847 | -$88,836 |
| 2017 | $421,890 | $448,269 | -$26,379 |
| 2016 | $125,093 | $382,874 | -$257,781 |
| 2015 | $214,644 | $347,000 | -$132,356 |
| 2014 | $556,878 | $329,872 | $227,006 |
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