During the fiscal year ended December 31, 2013, Glen City's general fund contributed $60 million to a defined benefit pension plan for city employees.On February 27, 2014, the general fund made an additional $3 million contribution related to the 2013 pension contribution requirements.The actuarially determined contribution requirement for 2013 is $65 million.The amount of pension expenditure recognized by the general fund for 2013 should be:

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The $60 million contribution made by the general fund during the fiscal year ended December 31, 2013 is a prepayment of pension expense for the following year. Therefore, for the 2013 fiscal year, only the portion of the actuarially determined contribution requirement that was not pre-funded should be recognized as pension expenditure. This would be $65 million (the total requirement) minus $60 million (the prepayment), which equals $5 million. However, since an additional $3 million contribution was made on February 27, 2014, this reduces the amount of the actuarially determined contribution requirement that was not pre-funded to $2 million ($5 million - $3 million). Therefore, the pension expenditure recognized by the general fund for 2013 should be $60 million (prepayment) + $3 million (additional contribution) + $2 million (portion of actuarially determined contribution not pre-funded) = $63 million.

During the Fiscal Year Ended December 31, 2013, Glen City's