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CITY OF LINO LAKES, MINNESOTA
<br />REQUIRED SUPPLEMENTARY INFORMATION
<br />SCHEDULE OF CHANGES IN THE TOTAL OPEB LIABILITY AND RELATED RATIOS
<br />For The Last Ten Years
<br />Statement 12
<br />2024
<br />2023
<br />2022
<br />2021
<br />2020
<br />2019
<br />2018
<br />2017
<br />Total OPEB liability:
<br />Service cost
<br />$63,419
<br />$42,687
<br />$59,608
<br />$65,484
<br />$63,577
<br />$53,789
<br />$16,547
<br />$16,990
<br />Interest
<br />33,911
<br />21,236
<br />12,384
<br />13,256
<br />12,256
<br />10,893
<br />21,355
<br />22,542
<br />Changes of benefit terms
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />Differences between expected and actual experience
<br />-
<br />263,454
<br />-
<br />(250,908)
<br />-
<br />(245,168)
<br />-
<br />(51,083)
<br />Changes in assumptions
<br />(22,573)
<br />38,665
<br />(87,527)
<br />93,391
<br />-
<br />-
<br />-
<br />Benefit payments
<br />(35,789)
<br />(27,716)
<br />(22,971)
<br />(32,454)
<br />(22,990)
<br />(15,527)
<br />(27,798)
<br />(31,536)
<br />Net change in total OPEB liability
<br />38,968
<br />338,326
<br />(38,506)
<br />(111,231)
<br />52,843
<br />(196,013)
<br />10,104
<br />(43,087)
<br />Total OPEB liability - beginning
<br />802,063
<br />463,737
<br />502,243
<br />613,474
<br />560,631
<br />756,644
<br />746,540
<br />789,627
<br />Total OPEB liability - ending
<br />$841,031
<br />$802,063
<br />$463,737
<br />$502,243
<br />$613,474
<br />$560,631
<br />$756,644
<br />$746,540
<br />Covered -employee payroll
<br />$6,536,338
<br />$6,392,776
<br />$6,164,425
<br />$5,109,645
<br />$5,072,488
<br />$5,072,488
<br />$4,937,332
<br />$4,937,332
<br />Total OPEB liability as a percentage of covered -employee payroll
<br />12.9%
<br />12.5%
<br />7.5%
<br />9.8%
<br />12.1%
<br />11.1%
<br />15.3%
<br />15.1%
<br />The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2017 and is intended to show a ten year trend. Additional years will be added
<br />as they become available.
<br />See accompanying notes to the required supplementary information.
<br />95
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