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Indian River County, Florida
<br />Required Supplementary Information
<br />Fiscal Year Ended September 30, 2020
<br />Schedules of Changes in Net OPEB Liability and Related Ratios
<br />Fiscal year ending September 30, 2020
<br />Total OPEB liability
<br />Service cost
<br />Interest on the total OPEB liability
<br />Difference between expected
<br />and actual experience
<br />Changes of assumptions and other inputs
<br />Benefit payments
<br />Net change in total OPEB liability
<br />$ 638,013
<br />1,953,393
<br />2,869,333
<br />(2,051,215)
<br />(2,577,846)
<br />2019
<br />2018
<br />$ 528,585 $
<br />1,943,022
<br />(2,238,521)
<br />831,678 233,086
<br />Total OPEB liability - beginning 33,207,465
<br />Total OPEB liability - ending (a) $ 34,039,143
<br />Plan fiduciary net position
<br />Employer contributions
<br />OPEB plan net investment income
<br />Benefit payments
<br />Net change in plan fiduciary net position
<br />$
<br />2,206,025
<br />2,518,479
<br />(2,577,846)
<br />32,974,379
<br />2017
<br />498,665 $
<br />2,443,943
<br />673,067
<br />2,405,638
<br />2,762,722
<br />(11,946,117)
<br />(2,037,101) (2,494,672)
<br />(8,277,888)
<br />41,252,267
<br />$ 33,207,465 $
<br />584,033
<br />40,668,234
<br />32,974,379 $ 41,252,267
<br />$ 2,178, 500 $
<br />1,047,018
<br />(2,238,521)
<br />2,146,658 986,997
<br />Plan fiduciary net position - beginning 30,507,845
<br />Plan fiduciary net position - ending (b) $ 32,654,503
<br />Net OPEB liability - ending (a) - (b) $
<br />Plan fiduciary net position as a percentage
<br />of total OPEB liability
<br />Covered payroll*
<br />Net OPEB liability as a percentage
<br />of covered payroll
<br />2,461,947 $
<br />1,425,540
<br />(2,037,101)
<br />1,850,386
<br />29,520,848 27,670,462
<br />$ 30,507,845 $ 29,520,848
<br />1,384,640 $ 2,699,620 $
<br />2,274,341
<br />2,387,483
<br />(2,494,672)
<br />2,167,152
<br />25,503,310
<br />$ 27,670,462
<br />3,453,531 $ 13,581,805
<br />95.93% 91.87% 89.53% 67.08%
<br />$ 88,630,805 $ 82,697,197 $ 80,387,008 $ 77,080,800
<br />1.56% 3.26%
<br />Notes to Schedule:
<br />Covered -employee payroll presented above is an estimate based on the data submitted for the
<br />valuation. GASB Statement 75 defined covered -employee payroll as the payroll of employees
<br />that are provided with OPEB through the OPEB plan, including employees terminating during
<br />the measurement period (fiscal year ended September 30, 2020).
<br />GASB 74 was implemented in fiscal year 2017. This schedule is being built prospectively.
<br />Ultimately, 10 years of data will be presented.
<br />* Estimate
<br />115
<br />4.30%
<br />17.62%
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