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CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2019 <br /> <br /> <br /> <br /> <br />actuarial valuation as of that date. The City’s proportion of the net pension liability was based on <br />the City’s contributions received by PERA during the measurement period for employer payroll <br />paid dates from July 1, 2018 through June 30, 2019, relative to the total employer contributions <br />received from all of PERA’s participating employers. At June 30, 2019, the City’s proportionate <br />share was 0.0398%, which was an increase of 0.0017% from its proportionate share measured as of <br />June 30, 2018. <br /> <br />City's proportionate share of the net pension liability $2,200,453 <br />State of Minnesota’s proportionate share of the net <br /> pension liability associated with the City 68,330 <br />Total $2,268,783 <br /> <br /> <br />For the year ended December 31, 2019, the City recognized pension expense of $258,464 for its <br />proportionate share of the GERF’s pension expense. In addition, the City recognized an additional <br />$5,117 as pension expense (and grant revenue) for its proportionate share of the State of <br />Minnesota’s contribution of $16 million to the GERF. <br /> <br />At December 31, 2019, the City reported its proportionate share of the GERF’s deferred outflows <br />of resources and deferred inflows of resources related to pensions from the following sources: <br /> <br />Deferred Outflows Deferred Inflows <br />of Resources of Resources <br />Differences between expected and <br /> actual economic experience $61,578 $ - <br />Changes in actuarial assumptions - 174,770 <br />Net collective between projected and <br /> actual investment earnings - 224,356 <br />Changes in proportion 124,187 113,155 <br />Contributions paid to PERA <br /> subsequent to the measurement date 103,255 - <br />Total $289,020 $512,281 <br /> <br />66