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Other Post -Employment Benefit Programs of the City of " "
<br />Actuarial Valuation as of July 1, 2015
<br />Appendix 2
<br />General OPER Disclosure and Required Supplementary Information
<br />The Information necessary to complete the OPEB footnote in the City's financial reports is
<br />summarized below, or we note the location of the information contained elsewhere in this
<br />report:
<br />Summary of Plan Provisions:
<br />See Table 3A
<br />OPER Funding Policy:
<br />See Section F; details are also provided in Tables
<br />Actuarial Actuarial Value Actuarial Actuarial
<br />1A and 1 C
<br />Annual OPER Cost and
<br />Payroll
<br />Net OPEB Obligation:
<br />See Table 1 B and 1`l,
<br />Actuarial Methods and Assumptions:
<br />See Tabler::4,
<br />Funding Status and
<br />and implicit subsidy liabilities,
<br />Funding Progress:
<br />See! 560§01 E —%sic Valuation Results
<br />Contributed
<br />(Asset)
<br />Schedule
<br />of Funding Progress
<br />7/1/2010 $ 9,840,000 $ 106,454,000
<br />UAAL as a
<br />Unfunded
<br />Percentage
<br />Actuarial Actuarial Value Actuarial Actuarial
<br />of Covered
<br />Valuation of Assets Accrued Liability Accrued Liability Funded Ratio Covered Payroll
<br />Payroll
<br />Date ta) (b) th-al fa/hl rrtl
<br />rrh.av,a
<br />7/1/2010 $ 9,840,000 $ 106,454,000
<br />$ 96,614,000 9.2% $
<br />50,900,185 189.8%
<br />7/1/2011 $ 16,182,147 $ 96,530,244
<br />$ 80,348,097 16.8% $
<br />50,192,076 160.1%
<br />7/1/2013 $ 20,412,616 $ 96,174,626
<br />$ 75,762,010 21.2% $
<br />44,512,395 170.2%
<br />7/1/2015 $ 26,019,812 $ 126,756,944
<br />$ 100,737,132 20.5% $
<br />46,879,660 214.9%
<br />To see these values separately far explIcif
<br />and implicit subsidy liabilities,
<br />please refer to
<br />Section Erof the report'..,
<br />Contributed
<br />(Asset)
<br />Required.Supplementary Information:
<br />Three Year History of Amounts
<br />Funded
<br />$ 6,186,486
<br />See chart below:
<br />$ -
<br />OPEB Cost Contributed
<br />$
<br />To see separate values for explicit and implicit subsidy funding, refer to Tables 1 B and 1 D.
<br />Italicized values above are estimates which may change if contributions are other than projected.
<br />Bickmore .
<br />Annual OPEB
<br />Net OPEB
<br />Fiscal Year
<br />Annual
<br />OPEB
<br />Employer OPEB
<br />Cost
<br />Obligation
<br />Ended
<br />Cost
<br />Contributions
<br />Contributed
<br />(Asset)
<br />6/30/2014
<br />$
<br />6,186,486
<br />$ 6,186,486
<br />100.0%
<br />$ -
<br />6/30/2015
<br />$
<br />6,387,548
<br />$ 6,388,492
<br />100.0%
<br />$ (944)
<br />6/30/2016
<br />$
<br />8,665,380
<br />$ 8,665,381
<br />100.0%
<br />$ (945)
<br />6/30/2017
<br />$
<br />8,928,789
<br />$ 8,928,788
<br />100.0%
<br />$ (944)
<br />To see separate values for explicit and implicit subsidy funding, refer to Tables 1 B and 1 D.
<br />Italicized values above are estimates which may change if contributions are other than projected.
<br />Bickmore .
<br />
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