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NOTE 6 - LONG-TERM LIABILITIES (CONTINUED)
<br />C. Other Long -Term Liabilities
<br />The City offers a number of benefits to its employees, including OPEB, pensions, and compensated
<br />absences. The details of these various benefit liabilities are discussed elsewhere in these notes. Such benefits
<br />are financed primarily from the General, Water, Sewer, and Storm Water Funds.
<br />City employees participate in two state-wide, cost -sharing, multiple -employer defined benefit pension plans
<br />administered by the PERA. The following is a summary of the net pension liabilities, deferred outflows and
<br />inflows of resources, and pension expense reported for these plans for the current year:
<br />Net
<br />Deferred
<br />Deferred
<br />Pension
<br />Outflows of
<br />Inflows of
<br />Pension
<br />Pension Plans Liabilities
<br />Resources
<br />Resources
<br />Expense
<br />PERA -GERF $ 1,867,690
<br />$ 582,180
<br />$ 606,904
<br />$ 334,040
<br />PERA - PEPFF 2,773,354
<br />4,722,632
<br />4,805,210
<br />833,636
<br />Total $ 4,641,044
<br />$ 5,304,812
<br />$ 5,412,114
<br />$ 1,167,676
<br />D. Minimum Debt Payments
<br />Minimum annual principal and interest payments to maturity for general obligation bonds are as follows:
<br />Governmental Activities
<br />Business -Type
<br />Activities
<br />Year Ending
<br />General Obligation Bonds
<br />G.O. Water Revenue Bonds
<br />December 31,
<br />Principal
<br />Interest
<br />Principal
<br />Interest
<br />2024
<br />$ 341,375
<br />$ 132,858
<br />$ 355,000
<br />$ 76,172
<br />2025
<br />353,700
<br />123,257
<br />360,000
<br />69,023
<br />2026
<br />280,000
<br />114,590
<br />370,000
<br />61,723
<br />2027
<br />285,000
<br />106,962
<br />375,000
<br />54,272
<br />2028
<br />295,000
<br />99,133
<br />385,000
<br />46,672
<br />2029-2033
<br />1,585,000
<br />371,059
<br />2,025,000
<br />125,199
<br />2034-2038
<br />1,825,000
<br />139,750
<br />1,275,000
<br />30,310
<br />Total
<br />$ 4,965,075
<br />$ 1,087,609
<br />$ 5,145,000
<br />$ 463,371
<br />E. Changes in Long -Term Liabilities
<br />Governmental activities
<br />G.O. bonds payable
<br />G.O. equipment certificates
<br />Total OPEB liability
<br />Net pension liability - PERA
<br />Compensated absences payable
<br />Total governmental activities
<br />Business -type activities
<br />G.O. water revenue bonds payable
<br />Bond premium
<br />Net pension liability - PERA
<br />Compensated absences payable
<br />Total business -type activities
<br />Total government -wide
<br />Beginning
<br />Ending
<br />Due Within
<br />Balance
<br />Additions
<br />Deletions
<br />Balance
<br />One Year
<br />$ 5,299,900
<br />$ -
<br />$ 334,825
<br />$ 4,965,075
<br />$ 341,375
<br />35,650
<br />-
<br />35,650
<br />-
<br />-
<br />744,500
<br />382,547
<br />198,558
<br />928,489
<br />97,148
<br />9,982,227
<br />1,458,220
<br />7,336,738
<br />4,103,709
<br />-
<br />635,642
<br />402,597
<br />400,676
<br />637,563
<br />478,172
<br />16,697,919
<br />2,243,364
<br />8,306,447
<br />10,634,836
<br />916,695
<br />5,495,000
<br />-
<br />350,000
<br />5,145,000
<br />355,000
<br />235,324
<br />-
<br />18,102
<br />217,222
<br />-
<br />807,007
<br />74,254
<br />343,926
<br />537,335
<br />-
<br />113,245
<br />82,271
<br />86,894
<br />108,622
<br />81,467
<br />6,650,576
<br />156,525
<br />798,922
<br />6,008,179
<br />436,467
<br />$ 23,348,495 $ 2,399,889 $ 9,105,369 $ 16,643,015 $ 1,353,162
<br />-47-
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