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Other Post -Employment Benefit Programs of the City of " " <br />Actuarial Valuation as of July 1, 2015 <br />Appendix 1 <br />Expected Disclosures for Fiscal Year End June 30, 2015 <br />The annual OPEB expense and net OPEB obligation for the fiscal year ending June 30, 2015 <br />were projected in the June 30, 2013 valuation and reflected Bickmore's understanding of <br />OPEB contributions prior to that date. Since that valuation was prepared, the City has <br />adjusted and updated its payments toward retiree premiums and contributions to the OPEB <br />trust through June 30, 2015. The following exhibit updates the information we now anticipate <br />will be reported in the City's financial statement for the fiscal year ending June 30, 2015. <br />Fiscal Year End <br />6/30/2015 <br />1. Calculation of the Annual OPEB Expense <br />a. ARC for current fiscal year <br />$ 6,387,548 <br />b. Interest on Net OPEB Obligation (Asset) <br />at beginning of year <br />- <br />c. Adjustment to the ARC <br />d. Annual OPEB Expense (a. + b. + c.) <br />6,387,548 <br />2. Calculation of Expected Contribution <br />a. Estimated payments on behalf of retirees <br />5,313,177 <br />b. Estimated current year's implicit subsidy <br />- <br />c. Estimated contribution to OPEB trust <br />1,075,315 <br />d. Total Expected Employer Contribution <br />6,388,492 <br />3. Change in Net OPEB Obligation (l.d. minus 2.c.) <br />(944) <br />Net OPEB Obligation (Asset), beginning of fiscal year <br />- <br />Net OPEB Obligation (Asset) at fiscal year end <br />(944) <br />Bickmore <br />