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Other Post -Employment Benefit Programs of the City of "" <br />Actuarial Valuation as of July 1, 2015 <br />Table 1 D <br />Expected OPER Disclosures for FYE 2017 <br />The following exhibit develops the annual OPEB expense, estimates the expected OPEB <br />contributions and estimates the net OPEB obligation as of June 30, 2017 based on the <br />prefunding policy described in this report. Some of the entries in the table below should be <br />updated after the close of the 2017 fiscal year to reflect the actual activity which occurred. <br />Fiscal Year End <br />Prefundfrial Oasis. <br />6/30/2017 6/30/2017 > <br />6/30!2017 <br />Subsidy <br />Explicit Implicit <br />Total <br />1. Calculation of the Annual OPEB Expense <br />a. ARC for current fiscal year <br />$ 7,086,272 $ 1,842,516 <br />$ 8,928,788 <br />b. Interest on Net OPEB Obligation (Asset) <br />(69) - <br />(69) <br />c. Adjustment to the ARC <br />70 <br />70 <br />d. Annual OPES Expense (a. + b. +c.) <br />7,086,273 1,842,516 <br />8,928,789 <br />2. Calculation of Expected Contribution <br />Et. Estimated payments on behalf of retirees <br />5,813,871 - <br />5,813,871 <br />b. Estimated current year's implicit subsidy <br />1,072,050 <br />1,072,050 <br />c. Estimated contribution to OPEB trust <br />1,272,401 770,466 <br />2,042,867 <br />d. Total Expected Employer Contribution <br />7,086,272 1,842,516 <br />8,928,788 <br />3. Change in Net OPEB Obligation (1.d. minus 2.c.) <br />1 - <br />1 <br />Net OPEB Obligation (Asset), beginning of fiscal year <br />(945) <br />(945) <br />Net OPEB Obligation (Asset) at fiscal year end <br />(944) <br />(944) <br />In the table above; we; assumed that the City's contributions would equal the total combined <br />ARC of $8,928,788. This may require adjusting the contribution to the trust if actual benefit <br />payments to retirees: are higher or lower than the estimate shown above, if actual total <br />Contribu-tions are less than the ARC the discount rate may need to be reduced to reflect less <br />than 1O o funding of the ARC ` <br />For detailson how'tem 1.b.Interest on the beginning of year net OPEB obligation and item <br />t.c., Adjustmerttto the ARC, are calculated, please refer to the notes below Table 1 B. <br />Bickmore (.,t <br />