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Indian River County, Florida <br />Board of County Commissioners <br />Notes To Financial Statements <br />Year Ended September 30, 2017 <br />NOTE 12 - RETIREMENT PLAN - Continued <br />Retiree Health Insurance Subsidy (HIS Program) - Continued <br />For the year ended September 30, 2017, the Board's calculated total actuarially determined pension <br />expense was $741,764. Of this amount, the Board recognized $84,804 in the enterprise funds and <br />$11,643 in the internal service funds. In addition, the Board's calculated deferred outflows of resources <br />and deferred inflows of resources related to pensions from the following sources were: <br />Description <br />Differences between expected and actual $ <br />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 />Board contributions and proportionate share of <br />contributions <br />Board contributions subsequent to the measure- <br />ment date <br />Total $ <br />Deferred Outflows <br />of Resources <br />2,061,784 <br />8,134 <br />1,240,336 <br />Deferred Inflows <br />of Resources <br />$ 30,541 <br />1,268,338 <br />137,699 <br />169,126 - <br />3,479,380 $ 1,436,578 <br />The deferred outflows of resources related to the HIS Program totaling $169,126 resulting from Board <br />contributions subsequent to the measurement date, will be recognized as a reduction of the net pension <br />liability in the year ended September 30, 2018. Other amounts reported as deferred outflows of <br />resources and deferred inflows of resources related to HIS Program will be recognized in pension <br />expense as follows: <br />Amount <br />Fiscal Year Ending September 30: Recognized <br />2018 <br />$ 584,101 <br />2019 <br />580,360 <br />2020 <br />578,565 <br />2021 <br />433,758 <br />2022 <br />171,055 <br />Thereafter <br />(474,163) <br />Total <br />$ 1,873,676 <br />299 <br />