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CITY OF LINO LAKES, MINNESOTA
<br />REQUIRED SUPPLEMENTARY INFORMATION Statement 12
<br />SCHEDULE OF CHANGES IN THE TOTAL OPEB LIABILITY AND RELATED RATIOS
<br />For The Last Ten Years
<br />2023 2022 2021 2020 2019 2018 2017
<br />Total OPEB liability:
<br />Service cost $42,687 $59,608 $65,484 $63,577 $53,789 $16,547 $16,990
<br />Interest 21,236 12,384 13,256 12,256 10,893 21,355 22,542
<br />Changes of benefit terms - - - - - - -
<br />Differences between expected and actual experience 263,454 - (250,908) - (245,168) - (51,083)
<br />Changes in assumptions 38,665 (87,527) 93,391 - - - -
<br />Benefit payments (27,716) (22,971) (32,454) (22,990) (15,527) (27,798) (31,536)
<br />Net change in total OPEB liability 338,326 (38,506) (111,231) 52,843 (196,013) 10,104 (43,087)
<br />Total OPEB liability - beginning 463,737 502,243 613,474 560,631 756,644 746,540 789,627
<br />Total OPEB liability - ending $802,063 $463,737 $502,243 $613,474 $560,631 $756,644 $746,540
<br />Covered-employee payroll $3,777,904 $3,748,243 $3,443,877 $3,496,085 $3,379,110 $3,240,932 $3,499,836
<br />Total OPEB liability as a percentage of covered-employee payroll 21.2% 12.4% 14.6% 17.5% 16.6% 23.3% 21.3%
<br />The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2017 and is intended to
<br />show a ten year trend. Additional years will be added as they become available.
<br />See accompanying notes to the required supplementary information.
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