VIRGINIA RETIREMENT SYSTEM GROUP LIFE INSURANCE PLAN

Transcription

1 VIRGINIA RETIREMENT SYSTEM GROUP LIFE INSURANCE PLAN GASB No. 75 Schedules With Independent Auditor s Report Thereon For the Fiscal Year Ended June 30, 2017 With Select Comparative Information for the Fiscal Year Ended June 30, 2016

2 Table of Contents Independent Auditor s Report 3 Schedule of Employer Allocations....6 Schedule of Net GLI OPEB Liability and Total GLI OPEB Expense Schedule of Deferred Outflows and Deferred Inflows of Resources by Employer...52 Notes to GASB No. 75 Schedules.75 Page 2 of 87

3 Board of Trustees Virginia Retirement System 1200 E. Main Street Richmond, VA September 5, 2018 INDEPENDENT AUDITOR S REPORT Report on the Schedules We have audited the accompanying schedule of employer allocations of the Virginia Retirement System Group Life Insurance (GLI) Plan, as of and for the years ended June 30, 2017 and June 30, 2016, and the related notes. We have also audited the total for all employers, of the columns titled net GLI OPEB liability as of and for the years ended June 30, 2017, and June 30, 2016, and total GLI OPEB expense as of and for the year ended June 30, 2017, included in the accompanying schedule of net GLI OPEB liability and total GLI OPEB expense of the Virginia Retirement System Group Life Insurance Plan, and the related notes. In addition, we have audited the total for all employers of the columns titled total deferred outflows of resources and total deferred inflows of resources included in the accompanying schedule of deferred outflows and deferred inflows of resources by employer of the Virginia Retirement System Group Life Insurance Plan, as of and for the year ended June 30, 2017, and the related notes. Management's Responsibility for the Schedule The Virginia Retirement System s management is responsible for the preparation and fair presentation of these schedules in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the schedules that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express opinions on the schedule of employer allocations and the columns titled net GLI OPEB liability, total GLI OPEB liability, total deferred outflows of resources, and total deferred inflows of resources (specified column totals) included in the schedule of net GLI OPEB liability (804) reports@apa.virginia.gov Page 3 of 87

4 and total GLI OPEB expense and the schedule of deferred outflows and deferred inflows of resources by employer based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the schedule of employer allocations and specified column totals included in the schedule of net GLI OPEB liability and total GLI OPEB expense and the schedule of deferred outflows and deferred inflows of resources by employer are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the schedule of employer allocations and the specified column totals included in the schedule of net GLI OPEB liability and total GLI OPEB expense and the schedule of deferred outflows and deferred inflows of resources by employer. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the schedule of employer allocations and the specified column totals included in the schedule of net GLI OPEB liability and total GLI OPEB expense and the schedule of deferred outflows and deferred inflows of resources by employer, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the schedule of employer allocations and the specified column totals included in the schedule of net GLI OPEB liability and total GLI OPEB expense and the schedule of deferred outflows and deferred inflows of resources by employer in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by the Virginia Retirement System management, as well as evaluating the overall presentation of the schedule of employer allocations and the specified column totals included in the schedule of net GLI OPEB liability and total GLI OPEB expense and the schedule of deferred outflows and deferred inflows of resources by employer. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the schedules referred to above present fairly, in all material respects, the employer allocations and the net GLI OPEB liability as of and for the years ended June 30, 2017, and June 30, 2016, and total deferred outflows of resources, total deferred inflows of resources, and total GLI OPEB expense as of and for the year ended June 30, 2017, for the total of all participating employers for the Virginia Retirement System Group Life Insurance Plan in accordance with accounting principles generally accepted in the United States of America. Other Matter We have audited, in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States, the financial statements of the Virginia Page 4 of 87

5 Retirement System as of and for the year ended June 30, 2017, and our report thereon, dated December 15, 2017, expressed an unmodified opinion on those financial statements. Restriction on Use Our report is intended solely for the information and use of the Virginia Retirement System management, the Virginia Retirement System Board of Trustees, the Commonwealth Joint Legislative Audit and Review Commission, and the Virginia Retirement System Group Life Insurance Plan employers and their auditors, and is not intended to be and should not be used by anyone other than these specified parties. ZLB/clj AUDITOR OF PUBLIC ACCOUNTS Page 5 of 87

6 Schedule of Employer Allocations Page 1 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage State: 1XXXX Judicial Retirement System Employees $ 319, % $ 348, % 2XXXX State Police Officers' Retirement System Employees 550, % 581, % Fort Monroe Federal Area Development Authority 6, % 6, % 3XXXX All Other State Agency Employees 23,918, % 26,353, % 7XXXX Virginia Law Officers' Retirement System Employees 1,665, % 1,798, % Sub-total State $ 26,460, % $ 29,088, % Teachers: Accomack County School Board $ 124, % $ 141, % Albemarle County Schools 411, % 461, % Alleghany County School Board 56, % 60, % Amelia County School Board 39, % 44, % Amherst County School Board 113, % 120, % Appomattox County School Board 49, % 57, % Arlington Public Schools 1,314, % 1,502, % Augusta County School Board 265, % 301, % Bath County School Board 21, % 24, % Bedford County School Board 230, % 250, % Bland County School Board 17, % 20, % Botetourt County Schools 126, % 139, % Brunswick County Public Schools 45, % 50, % Buchanan County School Board 70, % 73, % Buckingham County School Board 51, % 55, % Campbell County School Board 179, % 194, % Caroline County School Board 94, % 107, % Carroll County School Board 97, % 112, % Charles City County School Board 21, % 24, % Charlotte County School Board 53, % 57, % Chesterfield County School Board 1,334, % 1,512, % Clarke County School Board 56, % 62, % Craig County School Board 16, % 18, % Page 6 of 87

7 Schedule of Employer Allocations Page 2 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Culpeper County School Board 202, % 225, % Cumberland County School Board 37, % 41, % Dickenson County School Board 51, % 50, % Dinwiddie County School Board 106, % 121, % Essex County Public Schools 39, % 42, % Fairfax County School Board 6,598, % 7,482, % Fauquier County School Board 346, % 380, % Floyd County School Board 48, % 52, % Fluvanna County Public Schools 112, % 123, % Franklin County Public Schools 188, % 214, % Frederick County School Board 404, % 445, % Giles County Schools 57, % 63, % Gloucester County School Board 135, % 156, % Goochland County School Board 69, % 77, % Grayson County School Board 40, % 46, % Greene County Public Schools 79, % 89, % Greensville County School Board 58, % 64, % Halifax County School Board 135, % 145, % Hanover County School Board 464, % 520, % Henrico County School Board 1,219, % 1,357, % Henry County Public Schools 168, % 188, % Highland County Public Schools 8, % 9, % Isle of Wight County Schools 136, % 150, % King George County School Board 97, % 118, % King & Queen County School Board 20, % 23, % King William County School Board 55, % 61, % Lancaster County Public Schools 35, % 40, % Lee County School Board 85, % 95, % Loudoun County School Board 2,433, % 2,821, % Louisa County Public Schools 126, % 140, % Lunenburg County School Board 39, % 39, % Page 7 of 87

8 Schedule of Employer Allocations Page 3 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Madison County School Board 45, % 52, % Mathews County School Board 30, % 34, % Mecklenburg County School Board 106, % 115, % Middlesex County School Board 34, % 38, % Montgomery County School Board 227, % 258, % Nelson County Public Schools 54, % 59, % New Kent County School Board 72, % 81, % Northampton County Schools 43, % 47, % Northumberland County School Board 36, % 40, % Nottoway County School Board 52, % 58, % Orange County Public Schools 125, % 136, % Page County Public Schools 87, % 95, % Patrick County School Board 62, % 69, % Pittsylvania County School Board 193, % 215, % Powhatan County School Board 111, % 123, % Prince Edward County School Board 56, % 60, % Prince George County School Board 154, % 168, % Prince William County School Board 2,391, % 2,720, % Pulaski County School Board 102, % 113, % Rappahannock County School Board 27, % 29, % Richmond County School Board 30, % 34, % Roanoke County School Board 347, % 400, % Rockbridge County School Board 75, % 83, % Rockingham County School Board 302, % 335, % Russell County School Board 86, % 93, % Scott County School Board 91, % 103, % Shenandoah County School Board 162, % 178, % Smyth County School Board 108, % 117, % Southampton County School Board 60, % 66, % Spotsylvania County School Board 596, % 654, % Stafford County School Board 690, % 790, % Page 8 of 87

9 Schedule of Employer Allocations Page 4 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Surry County Schools 36, % 41, % Sussex County School Board 37, % 39, % Tazewell County Schools 127, % 137, % Warren County School Board 134, % 150, % Washington County School Board 166, % 184, % Westmoreland County School Board 41, % 50, % Wise County School Board 135, % 142, % Wythe County School Board 98, % 108, % York County School Board 319, % 349, % Alexandria City School Board 686, % 777, % Bristol City School Board 58, % 64, % Buena Vista City Schools 25, % 27, % Charlottesville Public Schools 176, % 197, % Danville City Schools 151, % 163, % Fredericksburg City Schools 106, % 118, % Hampton City Schools 511, % 571, % Harrisonburg City School Board 167, % 195, % Hopewell City School Board 111, % 128, % Lynchburg Public Schools 267, % 293, % Newport News Public Schools 752, % 835, % Norfolk Public Schools 1,039, % 1,116, % Petersburg City Schools 114, % 117, % Portsmouth School Board 384, % 413, % Radford City School Board 39, % 45, % Richmond Public Schools 761, % 830, % Roanoke City School Board 369, % 414, % Staunton City Schools 80, % 88, % Suffolk City School Board 348, % 385, % Winchester Public Schools 138, % 152, % Martinsville City Schools 55, % 60, % Falls Church Public Schools 119, % 132, % Page 9 of 87

10 Schedule of Employer Allocations Page 5 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Colonial Heights City Schools 88, % 97, % Covington City School Board 24, % 29, % Fairfax City School Board % % Franklin City Public Schools 36, % 39, % Chesapeake Public Schools 1,050, % 1,175, % Virginia Beach City School Board 1,883, % 2,087, % Manassas Park City Schools 102, % 109, % Town of West Point School Board 23, % 27, % Lexington City School Board 12, % 14, % Waynesboro Public Schools 83, % 93, % Town of Colonial Beach Schools 16, % 18, % Galax City Schools 33, % 36, % Norton City Schools 18, % 19, % Manassas City Schools 265, % 290, % City of Salem Schools 102, % 113, % Williamsburg-James City County School Board 320, % 356, % Poquoson City Public Schools 53, % 59, % Valley Vocational Technical Center 9, % 10, % Charlottesville/Albemarle Vo-Tech Center 5, % 6, % The Pruden Center for Industry and Technology 7, % 6, % Jackson River Technical Center 3, % 2, % New Horizons Technical Center 37, % 43, % Northern Neck Regional Vocational Center 5, % 5, % Rowanty Vocational Technical Center 3, % 3, % Amelia-Nottoway Vocational Center % 1, % Northern Neck Regional Special Education Program 3, % 4, % Maggie Walker Governor's School for Govt & Intl Studies 20, % 22, % Appomattox Region Governor's School 8, % 8, % Bridging Communities Regional Career and Tech Center 2, % 2, % Sub-total Teachers $ 36,753, % $ 41,190, % Page 10 of 87

11 Schedule of Employer Allocations Page 6 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Politicial Subdivisions: Accomack County $ 53, % $ 58, % Albemarle County 184, % 204, % Alleghany County 33, % 37, % Amelia County 18, % 20, % Amherst County 36, % 41, % Appomattox County 19, % 21, % Augusta County 91, % 104, % Bath County 13, % 13, % Bedford County 81, % 96, % Bland County 10, % 11, % Botetourt County 53, % 60, % Brunswick County 21, % 24, % Buchanan County 51, % 54, % Buckingham County 19, % 21, % Campbell County 63, % 68, % Caroline County 48, % 55, % Carroll County 36, % 39, % Charles City County 14, % 15, % Charlotte County 19, % 22, % Chesterfield County 866, % 959, % Clarke County 21, % 24, % Craig County 6, % 7, % Culpeper County 80, % 92, % Cumberland County 15, % 17, % Dinwiddie County 42, % 49, % Essex County 18, % 19, % Fauquier County 159, % 178, % Floyd County 17, % 20, % Fluvanna County 29, % 34, % Franklin County 62, % 72, % Page 11 of 87

12 Schedule of Employer Allocations Page 7 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Frederick County 176, % 204, % Giles County 26, % 29, % Gloucester County 66, % 73, % Goochland County 46, % 52, % Grayson County 19, % 22, % Greene County 24, % 28, % Greensville County 20, % 23, % Halifax County 36, % 41, % Hanover County 279, % 315, % Henrico County 1,133, % 1,274, % Henry County 74, % 82, % Highland County 6, % 6, % Isle of Wight County 60, % 66, % James City County 181, % 202, % King George County 47, % 53, % King and Queen County 10, % 12, % King William County 17, % 19, % Lancaster County 21, % 24, % Lee County 23, % 25, % Loudoun County 931, % 1,038, % Louisa County 54, % 60, % Lunenburg County 10, % 11, % Madison County 20, % 23, % Mathews County 11, % 12, % Mecklenburg County 38, % 43, % Middlesex County 12, % 14, % Montgomery County 83, % 91, % Nelson County 18, % 20, % New Kent County 39, % 45, % Northampton County 38, % 42, % Northumberland County 18, % 21, % Page 12 of 87

13 Schedule of Employer Allocations Page 8 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Nottoway County 15, % 17, % Orange County 46, % 53, % Page County 32, % 35, % Patrick County 25, % 28, % Pittsylvania County 66, % 74, % Powhatan County 35, % 40, % Prince Edward County 24, % 26, % Prince George County 59, % 65, % Prince William County 1,166, % 1,300, % County of Pulaski 53, % 60, % Rappahannock County 13, % 14, % Richmond County 12, % 14, % Roanoke County 214, % 240, % Rockbridge County 30, % 33, % Rockingham County 114, % 130, % Russell County 26, % 29, % Scott County 26, % 28, % Shenandoah County 59, % 64, % Smyth County 35, % 38, % Southampton County 35, % 40, % Spotsylvania County 218, % 247, % Stafford County 227, % 262, % Surry County 18, % 21, % Sussex County 24, % 25, % Tazewell County 54, % 58, % Warren County 47, % 53, % Washington County 49, % 54, % Westmoreland County 24, % 31, % Wise County 51, % 54, % Wythe County 31, % 35, % York County 182, % 201, % Page 13 of 87

14 Schedule of Employer Allocations Page 9 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage City of Bristol 68, % 74, % City of Buena Vista 14, % 17, % Town of St. Paul 3, % 3, % Town of Clifton Forge 7, % 7, % City of Fredericksburg 110, % 120, % City of Hampton 425, % 471, % City of Harrisonburg 137, % 152, % City of Hopewell 80, % 93, % City of Lynchburg 253, % 279, % Town of Crewe 4, % 4, % City of Norfolk 129, % 137, % City of Petersburg 118, % 109, % City of Portsmouth 319, % 345, % City of Radford 47, % 52, % City of Richmond 123, % 132, % City of Roanoke 41, % 45, % Town of Craigsville % 1, % City of Staunton 63, % 69, % City of Suffolk 283, % 333, % City of Williamsburg 47, % 51, % City of Winchester 116, % 127, % City of Martinsville 64, % 69, % City of Falls Church 6, % 7, % City of Colonial Heights 63, % 68, % Town of Front Royal 34, % 38, % Town of Chilhowie 4, % 4, % City of Covington 17, % 19, % Town of Floyd % % City of Franklin 36, % 39, % City of Chesapeake 716, % 809, % City of Virginia Beach 1,465, % 1,649, % Page 14 of 87

15 Schedule of Employer Allocations Page 10 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage City of Norton 15, % 16, % City of Manassas Park 42, % 47, % Town of Grottoes 3, % 4, % Town of Onley 1, % 1, % Town of West Point 6, % 7, % Town of Scottsville % % Town of Burkeville % % Town of Madison % % Town of Windsor 2, % 3, % Town of Stephens City 1, % 1, % Town of Lebanon 9, % 10, % City of Newport News 230, % 290, % Town of Haymarket 2, % 2, % Town of Lovettsville 2, % 2, % Town of Abingdon 25, % 28, % Town of Dumfries 5, % 5, % Town of Iron Gate % % Town of Montross % % Town of South Boston 14, % 15, % Town of Gretna 2, % 2, % Town of Remington % % City of Lexington 24, % 24, % City of Waynesboro 62, % 68, % Town of Colonial Beach 8, % 9, % Town of Smithfield 12, % 14, % Town of Brookneal 1, % 1, % Town of Hamilton 1, % 1, % City of Galax 29, % 32, % Town of Jonesville 1, % 1, % Town of Wytheville 30, % 33, % Town of Vienna 55, % 62, % Page 15 of 87

16 Schedule of Employer Allocations Page 11 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Town of Vinton 15, % 19, % City of Emporia 19, % 23, % Town of Culpeper 43, % 49, % Town of Woodstock 12, % 13, % Town of Glasgow % % Town of Marion 14, % 17, % Town of Altavista 9, % 10, % Town of Herndon 77, % 86, % Town of Pearisburg 6, % 7, % Town of Leesburg 110, % 117, % Town of Chatham 3, % 3, % Town of Bowling Green 1, % 1, % City of Manassas 135, % 152, % Town of Boydton % % City of Salem 109, % 118, % Town of McKenney % % Town of Quantico % % Town of Halifax 1, % 1, % Town of Blacksburg 67, % 75, % Town of Chincoteague 8, % 9, % Town of Lawrenceville 4, % 5, % Town of Amherst 3, % 4, % Town of Stanley 2, % 3, % Town of Hillsville 6, % 7, % Town of Elkton 4, % 4, % Town of Bridgewater 10, % 12, % Town of Purcellville 21, % 24, % Town of Timberville 2, % 3, % Town of Wise 9, % 10, % Town of New Market 3, % 4, % Town of Rocky Mount 12, % 14, % Page 16 of 87

17 Schedule of Employer Allocations Page 12 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Town of Luray 9, % 10, % Town of Strasburg 12, % 14, % Town of Clarksville 3, % 4, % Town of Dublin 4, % 4, % Town of Middleburg 3, % 4, % Town of Chase City 5, % 5, % City of Bedford 17, % 19, % City of Poquoson 27, % 31, % Town of Ashland 15, % 16, % Town of Broadway 4, % 4, % Town of Berryville 6, % 7, % Town of Urbanna % % Town of Bluefield 10, % 12, % Town of Weber City % % Town of Hurt % % Town of Coeburn 3, % 3, % Town of Dayton 3, % 3, % Town of Courtland % % Town of Cape Charles 5, % 6, % Town of Warsaw 2, % 2, % Town of Grundy 3, % 3, % Town of Warrenton 25, % 29, % Town of Louisa 2, % 3, % Town of Kenbridge 1, % 2, % Town of Mt. Jackson 3, % 3, % Town of Pulaski 18, % 21, % Town of Pembroke 1, % 1, % Town of Parksley 1, % 1, % Town of Onancock 2, % 2, % Town of Victoria 2, % 2, % Town of Shenandoah 3, % 3, % Page 17 of 87

18 Schedule of Employer Allocations Page 13 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Town of Round Hill 3, % 4, % Town of Kilmarnock 3, % 4, % Town of Orange 10, % 11, % Town of Blackstone 10, % 10, % Southeastern Virginia Public Service Authority 28, % 30, % Pittsylvania County Service Authority 1, % 1, % Spotsylvania-Stafford-Fredericksburg Group Home Comm. 2, % 2, % Appomattox Regional Library 3, % 3, % Staunton Redevelopment & Housing Authority 1, % 1, % Charles Pinckney Jones Memorial Library % % Southside Regional Juvenile Group Home Commission % % Hampton Roads Sanitation District 222, % 249, % Peninsula Airport Commission 11, % 11, % Richmond Redevelopment & Housing Authority 37, % 43, % Chesapeake Redevelopment & Housing Authority 9, % 10, % Norfolk Airport Authority 51, % 59, % Charlottesville Redevelopment & Housing Authority 2, % 2, % Hampton Redevelopment & Housing Authority 13, % 14, % Loudoun County Sanitation Authority 94, % 109, % Danville Redevelopment & Housing Authority 5, % 6, % NRV Regional Water Authority 4, % 5, % Northern Virginia Juvenile Detention Home 21, % 21, % Colonial Services Board 38, % 46, % Blacksburg-VPI Sanitation Authority 4, % 5, % Potomac River Fisheries Commission 1, % 1, % Chesapeake Bay Bridge & Tunnel District 36, % 40, % Alexandria Redevelopment & Housing Authority 22, % 24, % Albemarle County Service Authority 17, % 19, % Franklin Redevelopment & Housing Authority 1, % 2, % Bristol Redevelopment & Housing Authority 4, % 5, % Norfolk Redevelopment & Housing Authority 61, % 70, % Page 18 of 87

19 Schedule of Employer Allocations Page 14 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Richmond Metropolitan Authority 19, % 19, % Riverside Regional Jail 69, % 73, % Rappahannock-Rapidan Planning District Commission 1, % 1, % Shenandoah Valley Juvenile Detention Home 12, % 15, % Bedford Public Library 3, % 3, % Chesterfield County Health Center Commission 32, % 35, % Washington County Service Authority 16, % 18, % Rappahannock Area Community Services Board 83, % 99, % Hampton Roads Planning District Commission 15, % 16, % Meherrin Regional Library 1, % 1, % Rockbridge Area Community Services Board 18, % 19, % Greensville/Emporia Department of Social Services 5, % 5, % James City Service Authority 19, % 21, % Accomack-Northampton Planning District Commission 3, % 3, % Harrisonburg/Rockingham Sewer Authority 7, % 8, % Wytheville Redevelopment & Housing Authority 2, % 2, % Waynesboro Redevelopment and Housing Authority 4, % 4, % Region Ten Community Services Board 96, % 108, % LENOWISCO Planning District Commission 1, % 1, % Rivanna Water & Sewer Authority 21, % 24, % Appomattox River Water Authority 7, % 7, % Campbell County Utilities and Service Authority 5, % 6, % Eastern Shore Community Services Board 21, % 25, % ANCHOR Commission % % Central Virginia Community Services 132, % 143, % District 19 Community Services Board 42, % 43, % Tidewater Transportation District 81, % 90, % Upper Occoquan Sewage Authority 64, % 72, % New River Valley Juvenile Detention Home 3, % 4, % Frederick County Sanitation Authority 14, % 17, % Cumberland Mountain Community Services 45, % 53, % Page 19 of 87

20 Schedule of Employer Allocations Page 15 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Middle Peninsula/Northern Neck Public Service Auth 59, % 69, % Rockbridge County Public Service Authority 1, % 2, % Danville-Pittsylvania Mental Health Services Board 42, % 49, % Crater Youth Care Commission 5, % 6, % Southeastern Tidewater Manpower Authority 9, % 9, % Capital Regional Airport Commission 36, % 41, % Northwestern Community Services Board 29, % 34, % Harrisonburg-Rockingham Community Services Board 26, % 31, % Middle Peninsula Regional Security Center 13, % 14, % Northern Neck Planning District Commission 1, % 1, % Planning District One Community Services Board 1, % 1, % Rockbridge Area Social Services Board 4, % 4, % Dinwiddie County Water Authority 2, % 2, % Rappahannock Rapidan Community Services 49, % 53, % Valley Community Services Board 47, % 51, % Eastern Shore Public Library % 1, % Alexandria City Public Schools 37, % 42, % Albemarle County Public Schools 30, % 35, % Alleghany Highlands Public Schools 8, % 9, % Charlottesville City Public Schools 9, % 10, % Amherst County Public Schools 11, % 12, % Appomattox County Public Schools 3, % 3, % Arlington County Public Schools 89, % 103, % Augusta County Public Schools 12, % 13, % Bath County Public Schools 3, % 3, % Bedford County Public Schools 25, % 28, % Bland County Public Schools 1, % 2, % Botetourt County Public Schools 11, % 12, % Norfolk Public Schools 79, % 88, % Petersburg City Public Schools 11, % 12, % Buckingham County Public Schools 4, % 4, % Page 20 of 87

21 Schedule of Employer Allocations Page 16 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Radford City Public Schools 1, % 1, % Caroline County Public Schools 6, % 7, % Carroll County Public Schools 11, % 10, % Charles City County Public Schools 1, % 1, % Charlotte County Public Schools 2, % 3, % Chesterfield County Public Schools 96, % 81, % Clarke County Public Schools 3, % 3, % Winchester City Public Schools 10, % 11, % Culpeper County Public Schools 19, % 22, % Cumberland County Public Schools 3, % 3, % Dickenson County Public Schools 6, % 6, % Dinwiddie County Public Schools 9, % 9, % Essex County Public Schools 3, % 3, % Covington City Public Schools 1, % 2, % Floyd County Public Schools 7, % 7, % Fluvanna County Public Schools 11, % 12, % Chesapeake City Public Schools 103, % 113, % Virginia Beach City Public Schools 209, % 230, % Giles County Public Schools 1, % 1, % Gloucester County Public Schools 16, % 15, % Goochland County Public Schools 3, % 3, % Grayson County Public Schools 5, % 5, % Greene County Public Schools 8, % 9, % Greensville County Public Schools 3, % 4, % Halifax County Public Schools 9, % 9, % Hanover County Public Schools 27, % 27, % Henrico County Public Schools 3, % 3, % Henry County Public Schools 15, % 18, % Highland County Public Schools 1, % 1, % Isle of Wight County Public Schools 7, % 8, % King George County Public Schools 10, % 13, % Page 21 of 87

22 Schedule of Employer Allocations Page 17 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage King and Queen County Public Schools 3, % 3, % King William County Public Schools 6, % 6, % Lancaster County Public Schools 4, % 4, % Lee County Public Schools 8, % 10, % Loudoun County Public Schools 254, % 279, % Louisa County Public Schools 17, % 19, % Lunenburg County Public Schools 3, % 3, % Madison County Public Schools 3, % 3, % Mathews County Public Schools 3, % 4, % Mecklenburg County Public Schools 3, % 5, % Middlesex County Public Schools 2, % 2, % Montgomery County Public Schools 27, % 30, % Nelson County Public Schools 7, % 8, % New Kent County Public Schools 5, % 6, % Northampton County Public Schools 4, % 5, % Northumberland County Public Schools 3, % 3, % Nottoway County Public Schools 4, % 5, % Orange County Public Schools 14, % 15, % Page County Public Schools 8, % 9, % Patrick County Public Schools 8, % 9, % Pittsylvania County Public Schools 13, % 14, % Powhatan County Public Schools 8, % 8, % Prince Edward County Public Schools 2, % 3, % Prince George County Public Schools 18, % 20, % Prince William County Public Schools 260, % 294, % Pulaski County Public Schools 10, % 11, % Rappahannock County Public Schools 3, % 3, % Richmond County Public Schools % % Roanoke County Public Schools 14, % 15, % Rockbridge County Public Schools 6, % 7, % Rockingham County Public Schools 38, % 41, % Page 22 of 87

23 Schedule of Employer Allocations Page 18 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Russell County Public Schools 12, % 13, % Scott County Public Schools 10, % 11, % Shenandoah County Public Schools 17, % 19, % Smyth County Public Schools 10, % 11, % Southampton County Public Schools 4, % 4, % Spotsylvania County Public Schools 43, % 47, % Stafford County Public Schools 39, % 43, % Surry County Public Schools 4, % 4, % Sussex County School Board 4, % 4, % Tazewell County Public Schools 19, % 20, % Warren County Public Schools 9, % 10, % Washington County Public Schools 12, % 14, % Westmoreland County Public Schools 3, % 3, % Wise County Public Schools 7, % 8, % Wythe County Public Schools 5, % 6, % York County Public Schools 31, % 33, % Accomack County Public Schools 13, % 15, % Bristol VA Public Schools 1, % 2, % Buena Vista City Public Schools 1, % 1, % Amelia County Public Schools 4, % 4, % Danville City Public Schools 8, % 9, % Franklin City Public Schools 2, % 2, % Harrisonburg City Public Schools 9, % 10, % Hopewell City Public Schools 8, % 9, % Lynchburg City Public Schools 18, % 19, % Fauquier County Public Schools 34, % 38, % Brunswick County Public Schools 5, % 5, % PD Pruden Vocational-Technical Center % % Portsmouth City Public Schools 37, % 40, % Campbell County Public Schools 14, % 16, % Richmond Public Schools 49, % 51, % Page 23 of 87

24 Schedule of Employer Allocations Page 19 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Roanoke City Schools 14, % 16, % Staunton City Public Schools 4, % 5, % Suffolk City Public Schools 30, % 34, % Craig County Public Schools 1, % 1, % Martinsville City Public Schools 2, % 2, % Appomattox Regional Governor's School % % Colonial Heights City Public Schools 5, % 6, % Manassas City Public Schools 18, % 18, % Franklin County Public Schools 24, % 27, % Frederick County Public Schools 40, % 44, % Salem City Public Schools 5, % 6, % Manassas Park City Public Schools 6, % 6, % Newport News Public Schools 32, % 41, % Waynesboro City Public Schools 3, % 4, % Valley Vocational-Technical Center % % New Horizons Regional Education Center 1, % 1, % Galax City Public Schools 2, % 2, % Norton City Public Schools 1, % 1, % Williamsburg-James City County Public Schools 25, % 28, % Poquoson City Public Schools 2, % 2, % Fredericksburg City Public Schools 6, % 6, % Hampton City Public Schools 19, % 20, % Buchanan County Public Schools 11, % 11, % Jackson River Technical Center % % Northern Neck Regional Vocational Center % % Crater Criminal Justice Training Academy % % Central Shenandoah Criminal Justice Training Academy % % New River Valley Emergency Comm Regional Authority % 7, % Maury Service Authority % 3, % Hampton Roads Transportation Accountability Commission % 1, % Pamunkey Regional Library 4, % 5, % Page 24 of 87

25 Schedule of Employer Allocations Page 20 of 23 For the Fiscal Year Ended June 30, 2017 and 2016 June 30, 2016 June 30, 2017 Employer Employer Employer Employer Allocation Employer Allocation Code Employer Contributions Percentage Contributions Percentage Northern Virginia Transportation Authority 3, % 4, % RSW Regional Jail Authority 22, % 22, % Bedford Regional Water Authority 11, % 13, % Portsmouth Redevelopment and Housing Authority 17, % 18, % Southwest Regional Recreation Authority % 1, % Meherrin Regional Jail Authority 25, % 25, % Woodway Water Authority % 1, % Bristol Virginia Utilities Authority (BVU) 37, % 39, % Mount Rogers Community Services Board 94, % 110, % Lonesome Pine Soil & Water Conservation District % % Virginia's Region 2000 Local Government Council 7, % 7, % Middle Peninsula Planning District Commission 1, % 1, % Western Virginia Regional Jail Authority 36, % 40, % Halifax Service Authority 5, % 6, % Russell County Public Service Authority 1, % 2, % Piedmont Community Services Board 46, % 51, % Blue Ridge Behavioral Health Care 61, % 68, % Middle River Regional Jail Authority 28, % 33, % Eastern Shore Soil and Water Conservation District % % Town of Gordonsville 3, % 3, % Virginia Resources Authority 6, % 7, % Prince William County Services Authority 101, % 115, % Western Virginia Water Authority 43, % 51, % Shenandoah Valley Regional Airport Commission 2, % 3, % Alleghany Highlands Community Services Board 13, % 15, % Brunswick Industrial Development Authority % % Highlands Juvenile Detention Center Commission 9, % 9, % Goochland-Powhatan Community Services Board 10, % 12, % Suffolk Redevelopment and Housing Authority 5, % 5, % Lee County Redevelopment and Housing Authority 1, % 1, % Henry County Public Service Authority 10, % 11, % Page 25 of 87