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CITY OF ST. ANTHONY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 2021 <br /> <br /> <br /> <br /> <br />that date. The City’s proportion of the net pension liability was based on the City’s contributions <br />received by PERA during the measurement period for employer payroll paid dates from July 1, <br />2020 through June 30, 2021, relative to the total employer contributions received from all of <br />PERA’s participating employers. The City’s proportionate share was 0.0333% at the end of the <br />measurement period and 0.0341% for the beginning of the period. <br /> <br />City's proportionate share of the net pension liability $1,422,059 <br />State of Minnesota’s proportionate share of the net <br />pension liability associated with the City 43,405 <br />Total $1,465,464 <br /> <br />For the year ended December 31, 2021, the City recognized pension expense of ($1,437) for its <br />proportionate share of the GERF’s pension expense. In addition, the City recognized an additional <br />$3,502 as pension expense (and grant revenue) for its proportionate share of the State of <br />Minnesota’s contribution of $16 million to the GERF. <br /> <br />At December 31, 2021, the City reported its proportionate share of the GERF’s deferred outflows <br />of resources and deferred inflows of resources related to pensions from the following sources: <br /> <br />Deferred Outflows Deferred Inflows <br />of Resources of Resources <br />Differences between expected and <br /> actual economic experience $8,632 $43,519 <br />Changes in actuarial assumptions 868,280 31,337 <br />Net difference between projected <br /> and actual investment earnings - 1,230,955 <br />Changes in proportion 19,395 51,353 <br />Contributions paid to PERA <br /> subsequent to the measurement date 89,972 - <br />Total $986,279 $1,357,164 <br /> <br />The $89,972 reported as deferred outflows of resources related to pensions resulting from City <br />contributions subsequent to the measurement date will be recognized as a reduction of the net <br />pension liability in the year ended December 31, 2021. Other amounts reported as deferred <br />outflows and inflows of resources related to pensions will be recognized in pension expense as <br />follows: <br />Year Ended Pension <br />December 31 Expense <br />2022 ($80,046) <br />2023 (22,752) <br />2024 (22,148) <br />2025 (335,911) <br />2026 - <br />Thereafter - <br />68