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CITY OF LAKE ELMO, MINNESOTA
<br />SCHEDULE OF CHANGES IN CITY’S NET OPEB LIABILITY
<br />LAST TEN YEARS (Presented Prospectively)
<br />
<br />
<br />78
<br />2023 2022 2021 2020 2019 2018 2017
<br />Changes in Total OPEB Liability (TOL)
<br />Balance at January 1st 89,125$ 96,581$ 99,789$ 79,303$ 73,788$ 63,930$ 51,220$
<br />Service Cost 11,395 14,941 15,989 13,859 9,793 9,525 8,200
<br />Interest on the TPL 3,919 1,987 2,300 2,541 3,101 2,431 2,264
<br />Assumption Changes (56,222) (17,298) (4,833) 5,583 6,912 (2,098) 2,246
<br />Differences Between Expected
<br />and Actual Experience 21,261 - (15,088) - (14,291) - -
<br />Benefit Payments (7,486) (7,086) (1,576) (1,497) - - -
<br />Balance at December 31st 61,992$ 89,125$ 96,581$ 99,789$ 79,303$ 73,788$ 63,930$
<br />Covered Payroll for Active Members 2,146,050$ 1,996,038$ 1,743,100$ 1,455,967$ 1,831,326$ 1,605,997$ 1,483,782$
<br />Net OPEB Liability / Covered Payroll 2.9%4.5%5.5%6.9%4.3%4.6%4.3%
<br />Measurement Year Ended December 31,
<br />
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<br />Note: The schedule is provided prospectively beginning with the City’s fiscal year ended December 31, 2018 (December 31, 2017 measurement date) and is intended to
<br />show a ten year trend. Additional years will be reported as they become available.
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