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Indian River County, Florida <br />Notes To Financial Statements <br />Year Ended September 30, 2017 <br />NOTE 13 - RETIREMENT PLAN - Continued <br />Retiree Health Insurance Subsidy (HIS) Program - Continued <br />For the year ended September 30, 2017, the County recognized pension expense of $1,136,113. In <br />addition, the County reported deferred outflows of resources and deferred inflows of resources related <br />to pensions from the following sources: <br />Description <br />Differences between expected and actual experience <br />Changes in assumptions <br />Net difference between projected and actual <br />earnings on pension plan investments <br />Changes in proportion and differences between <br />County contributions and proportionate share of <br />contributions <br />County contributions subsequent to the measure- <br />ment date <br />Total <br />Deferred Outflows <br />of Resources <br />3,568,069 <br />14,076 <br />1,484,392 <br />Deferred Inflows <br />of R acrnrrrac <br />$ 52,851 <br />2,194,951 <br />451,320 <br />322,426 - <br />$ 5,388,963 $ 2,699,122 <br />The deferred outflows of resources related to HIS Program totaling $322,426 resulting from County <br />contributions subsequent to the measurement date, will be recognized as a reduction of the net pension <br />liability in the year ended September 30, 2018. Other amounts reported as deferred outflows of <br />resources and deferred inflows of resources related to HIS Program will be recognized in pension <br />expense as follows: <br />Fiscal Year Ending September 30: <br />2018 <br />2019 <br />2020 <br />2021 <br />2022 <br />Thereafter <br />Total <br />Amount <br />Recoenized <br />$ 738,019 <br />733,293 <br />731,025 <br />548,059 <br />216,130 <br />(599,111) <br />$ 2,367,415 <br />91 <br />