Page 48 - BAA CAFR 2017

BIRMINGHAM AIRPORT AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS

NOTE 9 CAPITAL CONTRIBUTIONS (CONTINUED)

Capital Contributions
Inception
To-Date 2017 2016

City of Birmingham $ 12,359,477 $ - $ -
Federal 370,030,101 4,937,446 7,600,907
Passenger Facility Charges 95,196,631 5,223,463 5,095,712

Total $ 477,586,209 $ 10,160,909 $ 12,696,619

NOTE 10 PENSION PLAN

Plan Description
The Authority contributes to the City of Birmingham Retirement and Relief
System--a single employer defined benefit pension plan ("the Plan"). This system
covers substantially all employees and certain elected officials and appointed
employees. Membership is mandatory for covered employees and is effective upon
employment. Employees contribute 7.0% of payroll, exclusive of overtime. The
City of Birmingham ("the City") is required by statute to fund that part of current
service cost and past service cost which exceeds participants' contributions as
determined by annual actuarial studies. The City acts as trustee for the Plan.

Plan Membership
At June 30, 2016, pension plan membership consisted of the following:

Retirees or beneficiaries currently receiving benefits 3,017
Inactive members due a refund of contributions 63
Inactive plan members entitled but not receiving benefits 358
Active plan members 3,852

Total 7,290

The census data as of June 30, 2017, was not available at the time of this disclosure.
It is assumed that the population remains constant.

Funding Policy
The funding methods and determination of benefits payable were established by the
legislative acts creating the Plan and provide that the Plan's fund is to be
accumulated from employee contributions, employer contributions, and income
from the investment of accumulated funds. The cost of administering the Plan is
funded by the City. The Plan's financial statements and required supplementary

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