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CITY OF ST. ANTHONY, MINNESOTA NOTES TO FINANCIAL STATEMENTS December 31, 2017 $84,997 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended December 31, 2018. Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized in pension expense as follows: Pension Year Ended Expense December 31, Amount 2018 $42,623 2019 116,029 2020 (62,767) 2021 (91,594) Thereafter - 2. PEPFF Pension Costs At December 31, 2017, the City reported a liability of $3,577,815 for its proportionate share of the PEPFF’s net pension liability. The net pension liability was measured as of June 30, 2017, and the total pension liability used to calculate the net pension liability was determined by an actuarial valuation as of that date. The City’s proportion of the net pension liability was based on the City’s contributions received by PERA during the measurement period for employer payroll paid dates from July 1, 2016, through June 30, 2017, relative to the total employer contributions received from all of PERA’s participating employers. At June 30, 2017, the City’s proportion was .2650% which was a decrease of .0270% from its proportion measured as of June 30, 2016. The City also recognized $23,850 for the year ended December 31, 2017, as revenue (and an offsetting reduction of net pension liability) for its proportionate share of the State of Minnesota’s on-behalf contributions to the PEPFF. Legislation passed in 2013 required the State of Minnesota to begin contributing $9 million to the PEPFF each year, starting in fiscal year 2014. For the year ended December 31, 2017, the City recognized pension expense of $832,991 for its proportionate share of the PEPFF’s pension expense. At December 31, 2017, the City reported its proportionate share of the PEPFF’s deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Outflows Deferred Inflows of Resources of Resources Differences between expected and actual economic experience $82,354 $949,026 Changes in actuarial assumptions 4,682,285 5,079,610 Difference between projected and actual investment earnings 40,230 - Changes in proportion 115,214 388,254 Contributions paid to PERA subsequent to the measurement date 205,160 - Total $5,125,243 $6,416,890 $205,160 reported as deferred outflows of resources related to pensions resulting from City contributions subsequent to the measurement date will be recognized as a reduction of the net pension 67