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CITY OF SAN LEANDRO
<br />NOTES TO BASIC FINANCIAL STATEMENTS
<br />For The Year Ended June 30, 2019
<br />NOTE 14 – OTHER POST EMPLOYMENT BENEFITS (Continued)
<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 healthcare cost trend rates that are 1-percentage-point lower or 1-
<br />percentage-point higher than the current healthcare cost trend rates (6.3% in 2021, trending down to 4.0% in
<br />2076):
<br />Net OPEB Liability/(Asset)
<br />1% Decrease Current Healthcare Cost 1% Increase
<br />Trend Rates
<br />3,428,134$6,077,481$ 9,378,932$
<br />E. OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB
<br />For the year ended June 30, 2019, the City recognized OPEB expense of $1,547,922. At June 30, 2019, the
<br />City reported deferred outflows and inflows of resources related to OPEB from the following sources:
<br />Deferred Outflows Deferred Inflows
<br />of Resources of Resources
<br />Changes of assumptions 1,940,059$ -$
<br />Differences between expected and actual experience 1,061,867 -
<br />Net differences between projected and actual earnings on
<br />plan investments 2,365 -
<br />Total 3,004,291$ -$
<br />The deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized as
<br />part of OPEB expense as follows:
<br />Year Annual
<br />Ended June 30 Amortization
<br />2020 620,630$
<br />2021 620,630
<br />2022 620,632
<br />2023 557,155
<br />2024 585,244
<br />Total 3,004,291$
<br />NOTE 15 – JOINTLY GOVERNED ORGANIZATIONS
<br />The City of San Leandro participates in the East Bay Dischargers Authority established on February 15,
<br />1974. The Agency Members of the Joint Powers are the City of Hayward, City of San Leandro, Oro
<br />Loma Sanitary District, Castro Valley Sanitary District, and Union Sanity District. The authority has the
<br />powers to plan for, acquire, construct, manage, maintain, operate, and control facilities for the collection,
<br />transmission, treatment, reclamation, sale and disposal of waste water. No debt, liability, or obligation of
<br />the Authority shall constitute a debt, liability or obligation of any Agency.
<br />85232
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