|
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 />2024 2023 2022 2021 2020 2019 2018 2017
<br />Total OPEB liability:
<br />Service cost $63,419 $42,687 $59,608 $65,484 $63,577 $53,789 $16,547 $16,990
<br />Interest 33,911 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 (22,573) 38,665 (87,527) 93,391 - - - -
<br />Benefit payments (35,789) (27,716) (22,971) (32,454) (22,990) (15,527) (27,798) (31,536)
<br />38,968 338,326 (38,506) (111,231) 52,843 (196,013) 10,104 (43,087)
<br />802,063 463,737 502,243 613,474 560,631 756,644 746,540 789,627
<br />Net change in total OPEB liability
<br />Total OPEB liability - beginning
<br />Total OPEB liability - ending $841,031 $802,063 $463,737 $502,243 $613,474 $560,631 $756,644 $746,540
<br />Covered-employee payroll $6,536,338 $6,392,776 $6,164,425 $5,109,645 $5,072,488 $5,072,488 $4,937,332 $4,937,332
<br />Total OPEB liability as a percentage of covered-employee payroll 12.9%12.5%7.5%9.8%12.1%11.1%15.3%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
<br />Page 131 of 353
|