This is the audited financial report for the Firemen’s Relief and Retirement Fund, a fiduciary fund of the City of McAllen. The report, dated September 30 2015, includes the auditor’s opinion that the statements are fairly presented, a management discussion, the fund’s statement of net position and changes, and notes on assets, contributions, investment performance, and benefit payments. It shows the fund held $42.3 million in net position, received $1.22 million from members and $1.48 million from the city, experienced a $2.47 million investment loss, paid $2.53 million in retiree benefits, and ended 2015 with $41.97 million in investments that earned a –5.58% return, below the 7.5% actuarial target.
| Total net position (Sept 30 2015) | $42,300,964 |
| Member contributions (2015) | $1,223,445 |
| Employer contributions (2015) | $1,477,483 |
| Net investment loss (2015) | $2,467,023 |
| Benefit payments to retirees (2015) | $2,532,106 |
| Total deductions (2015) | $3,216,778 |
| Total investment assets (ex‑cash) (2015) | $41,966,478 |
| Estimated rate of return (2015) | -5.58% |