|
CITY OF ST. ANTHONY, MINNESOTA
<br />REQUIRED SUPPLEMENTARY INFORMATION Statement 11
<br />SCHEDULE OF CHANGES IN THE CITY'S TOTAL OPEB LIABILITY AND RELATED RATIOS
<br />For The Year Ended December 31, 2023
<br />2023 2022 2021 2020 2019 2018
<br />Total OPEB liability:
<br />Service cost $79,666 $72,464 $62,011 $49,034 $66,821 $60,682
<br />Interest 21,820 15,890 18,122 36,179 29,763 28,711
<br />Changes of benefit terms - - - - - -
<br />Differences between expected and actual experience 2,116 479,711 8,294 (347,833) - -
<br />Changes in assumptions (130,573) (222,336) 19,545 52,159 (43,327) 21,006
<br />Benefit payments (55,980) (30,409) (30,213) (21,165) (11,075) (10,672)
<br />Net change in total OPEB liability (82,951) 315,320 77,759 (231,626) 42,182 99,727
<br />Total OPEB liability - beginning 1,007,566 692,246 614,487 846,113 803,931 704,204
<br />Total OPEB liability - ending $924,615 $1,007,566 $692,246 $614,487 $846,113 $803,931
<br />Covered-employee payroll $5,000,000 $4,900,000 $4,600,000 $4,500,000 $4,897,999 $4,627,624
<br />Total OPEB liability as a percentage of covered-employee payroll 18.5% 20.6% 15.0% 13.7% 17.3% 17.4%
<br />The schedule is provided prospectively beginning with the City's fiscal year ended December 31, 2018 and is intended to
<br />show a ten year trend. Additional years will be added as they become available.
<br />See accompanying notes to the required supplementary information.
<br />94
|