|
CITY OF SAN LEANDRO
<br />Notes to Required Supplementary Information
<br />For the year ended June 30, 2019
<br />Other Postemployment Benefits - Single-Employer Plan
<br />Schedule of Changes in the Net OPEB Liability and Related Ratios
<br />Last Ten Fiscal Years (1)(2)
<br />For the Measurement Period Ended June 30 2017 2018 2019
<br />Total OPEB Liability
<br />Service Cost 709,979$ 673,551$ 692,916$
<br />Interest 1,027,370 1,054,962 1,067,353
<br />Changes of benefit terms ---
<br />Differences between expected and actual experience --1,270,076.00
<br />Changes of assumptions -440,394 1,975,353
<br />Implicit rate subsidy fulfilled -(733,837)-
<br />Benefit Payments (1,538,260) (802,834) (1,508,460)
<br />Net change in Total OPEB Liability 199,089 632,236 3,497,238
<br />Total OPEB Liability at beginning of year 18,636,426 18,835,515 19,467,751
<br /> Total OPEB Liability at end of year 18,835,515$ 19,467,751$ 22,964,989$
<br />Plan Fiduciary Net Position
<br />Contributions - employer 8,488,260$ 1,552,834$ 2,508,460$
<br />Contributions - employer for implicit subsidy -733,837 -
<br />Contributions - member ---
<br />Net investment income 640,483 528,900 1,047,583
<br />Benefit payments (1,538,260) (802,834) (1,508,460)
<br />Impicit subsidy fulfilled -(733,837)-
<br />Administrative expenses (40,605) (67,811) (36,472)
<br />Net change in Plan Fiduciary Net Position 7,549,878 1,211,089 2,011,111
<br />Plan Fiduciary Net Position at beginning of year 6,115,430 13,665,308 14,876,397
<br /> Plan Fiduciary Net Position at end of year 13,665,308$ 14,876,397$ 16,887,508$
<br />Authority's Net OPEB Liability (Asset) at end of year 5,170,207$ 4,591,354$ 6,077,481$
<br />Plan's Fiduciary Net Position as percentage of Total
<br />OPEB Liability 72.6%76.4%73.5%
<br />Covered employee payroll $34,267,955 $33,357,709 $42,275,248
<br />Net OPEB Liability as percentage of covered payroll 15.09%13.76%14.38%
<br />Notes:
<br />(1) Fiscal year 2017 was the first year of implementation for GASB 74
<br />(2) Fiscal year 2018 was the first year of implementation for GASB 75
<br />98245
|