The fund has $9,306,556 in total assets. If the funds annual losses were the same, it would run out of money in four years without these subsidies.
The fund lost $281,072 in investment income and other revenue in 2016. At the same time, it paid out $2,107,306 in expenses, according to the 2017 biennial report detailing the health of each of the states pension funds and retirement systems. The difference between the two shows the funds annual loss without subsidies.
Taxpayers added $398,566 to the funds revenue last year – an amount that has increased from $0 five years ago. Members contributed an additional $325,795 – $56,264 more than five years ago.
In all, subsidies amounted to $724,361 in 2016.
Harvey Firefighters Pension Fund non-subsidy revenue over five years
| Year | Total non-subsidy revenue | Total expenses | Outcome without subsidies |
|---|---|---|---|
| 2016 | -$281,072 | $2,107,306 | -$2,388,378 |
| 2015 | $562,303 | $2,093,426 | -$1,531,123 |
| 2014 | $747,332 | $1,978,784 | -$1,231,452 |
| 2013 | $908,958 | $1,879,693 | -$970,735 |
| 2012 | -$297,603 | $1,827,420 | -$2,125,023 |
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