ACFR - FY2021 FINAL 5-13-22 USE THIS ONE - Flipbook - Page 103
NOTES TO FINANCIAL STATEMENTS
CITY OF EUSTIS, FLORIDA
(Continued)
Note 6 - Other Postemployment Benefits (Continued)
Changes in the Total OPEB Liability
Total OPEB Liability
Service Cost
Interest
Difference between expected and actual experience
Change of assumptions and other inputs
Benefit payments
Other Changes
Net Change in Total OPEB
Total OPEB Liability Beginning of the Year
Total OPEB Liability End of the Year
Fiscal Year
2021
$
$
121,231
75,073
(664,324)
178,131
(166,315)
(456,204)
2,784,211
2,328,007
Sensitivity of the Total OPEB Liability to Changes in the Discount Rate
The following table presents the total OPEB liability, calculated using the discount rate
of 2.21%, as well as what the City’s total OPEB liability would be if it were calculated
using a discount rate that is one percentage point lower (1.21%) or one-percentage-point
higher (3.21%) than the current discount rate:
Total OPEB Liability
1% Decrease
1.21%
$
2,634,481
Current
Discount Rate
2.21%
$
2,328,007
1% Increase
3.21%
$
2,077,102
Sensitivity of the total OPEB Liability to Changes in the Healthcare Cost Trend
Rates
The following table presents the total OPEB liability of the City, as well as what the City’s
total OPEB liability would be if it were calculated using a healthcare cost trend rate that
is one percentage point lower (1.00%) or one-percentage-point higher (1.00%) than the
current discount rate:
Total OPEB Liability
1% Decrease
$
2,070,464
93
Current Trend
Rate
$
2,328,007
1% Increase
$
2,644,344