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<br />- 29 - <br />Components of the City’s annual OPEB cost for the year ended December 31, 2015, the amount actually <br />contributed to the plan, and changes in the City’s net OPEB obligation to the plan are as follows: <br /> <br />Annual required contribution $ 31,590 <br />Interest on net OPEB obligation 972 <br />Adjustment to annual required contribution (3,749) <br /> Annual OPEB cost (expense) $ 28,813 <br />Contributions made (28,984) <br /> Increase in net OPEB obligation $ (171) <br />Net OPEB obligation – beginning of year 91,023 Net OPEB obligation – end of year $ 90,852 <br /> <br />Funded status of the City’s OPEB as reported in the actuarial reports received to-date: <br /> <br /> Unfunded UAAL as <br /> Actuarial Actuarial a percentage <br /> Actuarial Actuarial Value Accrued Accrued of Annual <br />Valuation Date of Assets Liability Liability (UAAL) Covered Payroll <br /> <br />January 1, 2014 -0- $547,626 $547,626 10.4% <br />January 1, 2011 -0- 474,770 474,770 9.7 <br />January 1, 2008 -0- 329,191 329,191 6.8 <br /> <br />Required contributions as reported in the actuarial reports received to-date: <br /> <br /> Fiscal OPEB % of Annual OPEB OPEB <br />Year Ended Cost Cost Contributed Obligation <br /> <br />December 31, 2015 $28,814 99.4% $83,969 <br />December 31, 2014 29,192 73.6 91,667 <br />December 31, 2013 27,437 77.6 83,969 <br />December 31, 2012 29,610 65.2 77,821 <br />December 31, 2011 27,917 65.9 72,808 <br /> <br />For more information regarding the City’s OPEB plan with respect to its employees, please reference <br />“Note 19, Other Postemployment Benefit Plan” of the City’s Comprehensive Annual Financial Report for <br />fiscal year ended December 31, 2015, an excerpt of which is included as Appendix IV of this Official <br />Statement. <br /> <br />Sources: City’s Comprehensive Annual Financial Reports. <br />