Laserfiche WebLink
CITY OF LINO LAKES, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2023 <br /> <br /> <br /> <br /> <br />F. SENSITIVITY OF THE TOTAL OPEB LIABILITY TO CHANGES IN THE DISCOUNT RATE <br /> <br />The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were <br />calculated using a discount rate that is 1% lower (3.00%) or 1% higher (5.00%) than the current discount rate: <br /> <br />1% Decrease Discount Rate 1% Increase <br />3.00% 4.00% 5.00% <br />Total OPEB liability $882,114 $802,063 $730,329 <br /> <br />G. SENSITIVITY OF THE TOTAL OPEB LIABILITY TO CHANGES IN THE HEALTHCARE COST TREND <br />RATES <br /> <br />The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were <br />calculated using healthcare cost trend rates that are 1% lower (5.25% decreasing to 4%) or 1% higher (7.25% decreasing to <br />6%) than the current healthcare cost trend rates: <br /> <br />Healthcare Cost <br />1% Decrease Trend Rates 1% Increase <br />(5.25% decreasing to 4%) (6.25% decreasing to 5%) (7.25% decreasing to 6%) <br />Total OPEB liability $699,826 $802,063 $924,551 <br /> <br /> <br />H. OPEB EXPENSE AND DEFERRED OUTFLOWS AND INFLOWS OF RESOURCES RELATED TO OPEB <br /> <br />For the year ended December 31, 2023, the City recognized $43,952 of OPEB expense. At December 31, 2023, the City <br />reported deferred outflows and inflows of resources related to OPEB from the following sources: <br /> <br />Deferred Outflows Deferred Inflows <br />of Resources of Resources <br />Differences between expected <br /> and actual experience $243,236 $343,740 <br />Changes in assumptions 97,582 68,519 <br />Total $340,818 $412,259 <br /> Deferred outflows and inflows of resources relate almost exclusively to the public safety function, and therefore, have been <br />allocated entirely to governmental activities. <br /> <br />75 <br />82