ACFR - FY2021 FINAL 5-13-22 USE THIS ONE - Flipbook - Page 85
NOTES TO FINANCIAL STATEMENTS
CITY OF EUSTIS, FLORIDA
(Continued)
Note 5 - Pension Funds (Continued)
FRS
Deferred Outflows
of Resources
Description
Differences between expected and
actual experience
$
Change of assumptions
19,487
FRS
Deferred Inflows
of Resources
$
77,794
Net difference between projected and actual
earnings on Pension Plan investments
Changes in proportion and differences
between City Pension Plan contributions
and proportionate share of contributions
City Pension Plan contributions subsequent
to the measurement date
Total
$
-
-
(396,644)
1,670
(99,997)
12,506
-
111,457
$
(496,641)
The deferred outflows of resources related to the Pension Plan, totaling $12,506
resulting from City contributions to the Plan after the measurement date, will be
recognized as a reduction of the net pension liability on September 30, 2022. Other
amounts reported as deferred outflows of resources and deferred inflows of resources
related to the Pension Plan will be recognized in pension expenses as follows:
Fiscal Year Ending
September 30, 2021:
Deferred
Outflow / Inflow
Amount
$ (80,859)
(85,374)
(103,461)
(120,835)
(7,161)
$ (397,690)
2022
2023
2024
2025
2026
Total
75