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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2018
<br />I NOTE 14 -OTHER POST EMPLOYMENT BENEFITS (Continued)
<br />C. Changes in Net OPEB Liability
<br />The changes in the net OPEB liability follows:
<br />TotaIOPEB Plan Fiduciary
<br />Liability Net Position
<br />(a} (b}
<br />Balance at June 30, 2017 Measurement Date $ 18,835,515 $ 13,665,308
<br />Changes Recognized for the Measurement Period:
<br />Service Cost 673,551
<br />Interest on the total OPEB liability 1,054,962
<br />Changes in benefit terms
<br />Differences between expected and actual experience
<br />Changes of assumptions 440,394
<br />Employer contributions -City 1,552,834
<br />Employer contributions -Implicity subsidy 733,837
<br />Net investment income 528,900
<br />Benefit payments (802,834) (802,834)
<br />Implicit rate subsidy fulfilled (733,837) (733,837)
<br />Administrative expenses {67,811)
<br />Net changes 632,236 1,211,089
<br />Balance at June 20, 2018 Measurement Date $ 19,467,751 $ 14,876,397
<br />Plan fiduciary net position as percentage of the total OPEB liability
<br />NetOPEB
<br />Liability/(Asset)
<br />(a} -(b}
<br />$ 5,170,207
<br />673,551
<br />1,054,962
<br />440,394
<br />(1,552,834)
<br />(733,837)
<br />(528,900)
<br />67,811
<br />{578,853)
<br />$ 4,591,354
<br />76.42%
<br />Pension Plan Fiduciary Net Position -Detailed information about the pension plan's fiduciary net position
<br />is available in the separately issued CalPERS financial reports.
<br />D. Sensitivity of the Net OPEB Liability to Changes in the Discount Rate and Healthcare Cost Trend
<br />Rates
<br />The following presents the net OPEB liability of the City, as well as what the City's net OPEB liability
<br />would be if it were calculated using a discount rate that is I-percentage-point lower or I-percentage-point
<br />higher than the current discount rate:
<br />Discount Rate -1%
<br />(4.50%)
<br />$6,222,094
<br />Net OPEB Liability/(Asset)
<br />Current Discount Rate
<br />(5.50%)
<br />$4,591,354
<br />83
<br />Dis count Rate + 1 %
<br />(6.50%)
<br />$2,824,719
<br />548
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