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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2019 <br /> <br /> <br /> <br /> <br />resources reported in the government-wide Statement of Net Position and the proprietary funds <br />Statement of Net Position. <br /> <br />In addition to liabilities, the statement of financial position reports a separate section for deferred <br />inflows of resources. This separate financial statement element represents an acquisition of net <br />position that applies to future periods and so will not be recognized as an inflow of resources <br />(revenue) until that time. The government has pension and OPEB related deferred inflows of <br />resources reported in the government-wide Statement of Net Position and the proprietary funds <br />Statement of Net Position. The government also has a type of item, which arises only under a <br />modified accrual basis of accounting that qualifies for reporting in this category. Accordingly, the <br />item, unavailable revenue, is reported only in the governmental fund balance sheet. The governmental <br />funds report unavailable revenues from the following sources: property taxes, special assessments, tax <br />increment and intergovernmental revenue. <br /> <br /> <br />U. PENSION PLANS <br /> <br />COST SHARING MULTIPLE – EMPLOYER PLANS <br /> <br />For purposes of measuring the net pension liability, deferred outflows/inflows of resources, and <br />pension expense, information about the fiduciary net position of the Public Employees Retirement <br />Association (PERA) and additions to/deductions from PERA’s fiduciary net position have been <br />determined on the same basis as they are reported by PERA except PERA’s fiscal year end is June 30. <br />For this purpose, plan contributions are recognized as of employer payroll paid dates and benefit <br />payments and refunds are recognized when due and payable in accordance with the benefit terms. <br />Investments are reported at fair value. <br /> <br />SINGLE EMPLOYER PLAN <br /> <br />For purposes of measuring the net pension liability (asset), deferred outflows of resources and deferred <br />inflows of resources related to pensions, and pension expense, information about the fiduciary net <br />position of the St. Anthony Fire Department Relief Association (Relief) and additions to/deductions <br />from the Relief’s fiduciary net position have been determined on the same basis as they were reported <br />by the Relief. For this purpose, benefit payments are recognized when due and payable in accordance <br />with the benefit terms. Investments are reported at fair value. <br /> <br /> <br />50