|
Indian River County, Florida
<br />Notes To Financial Statements
<br />Year Ended September 30, 2018
<br />NOTE 14 — OTHER POSTEMPLOYMENT BENEFITS PLAN (OPEB) - Continued
<br />G. Changes in the Net OPEB Liability
<br />Balances at 9/30/2017
<br />Changes for the year:
<br />Service cost
<br />Interest
<br />Differences between expected and actual experience
<br />Changes of assumptions and other inputs
<br />Contributions - employer
<br />Net investment income
<br />Benefit payments
<br />Net changes
<br />Balances at 9/30/2018
<br />Increase(Decrease)
<br />Total OPEB
<br />Liability
<br />(a)
<br />$ 41,252,267
<br />498,665
<br />2,443,943
<br />2,762,722
<br />(11,946,117)
<br />(2,037,101)
<br />(8,277,888)
<br />$ 32,974,379
<br />Plan
<br />Fiduciary
<br />Net Position
<br />(b)
<br />Net OPEB
<br />Liability
<br />(a) -(b)
<br />$ 27,670,462 $ 13,581,805
<br />498,665
<br />2,443,943
<br />2,762,722
<br />(11,946,117)
<br />2,461,947 (2,461,947)
<br />1,425,540 (1,425,540)
<br />(2,037,101)
<br />1,850,386 (10,128,274)
<br />$ 29,520,848 $ 3,453,531
<br />H. OPEB Expense and Deferred Outflows and Inflows of Resources Related to OPEB
<br />For the year ended September 30, 2018, the County recognized OPEB expense of $298,745. At
<br />September 30, 2018, the County reported deferred outflows of resources and deferred inflows of
<br />resources related to OPEB from the following sources:
<br />Description
<br />Deferred
<br />Outflows of
<br />Resources
<br />Deferred
<br />Inflows of
<br />Resources
<br />Differences between expected and actual experience $ 2,455,753 $
<br />Changes of assumptions
<br />Net difference between projected and actual earnings on
<br />OPEB plan investments 197,946
<br />10,618,771
<br />$ 2,653,699 $ 10,618,771
<br />101
<br />
|