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<br />Required Supplementary Information
<br />For the fiscal year ended June 30, 2020
<br />Schedule of Changes in the Net ® Liability and Related Ratios — Last 10 years*
<br />Measurement period
<br />2019
<br />2018 2017
<br />Total OPEB liability
<br />Service cost
<br />$ 211,498 $
<br />290,499 $ 351,224
<br />Interest on total OPEB liability
<br />229,949
<br />393,222 336)056
<br />Changes of benefit terms
<br />-
<br />(4,999,608) -
<br />Changes of assumptions
<br />(1,524,648)
<br />(264,829) (1,151,364)
<br />Difference between expected and actual experience
<br />(3,608)
<br />(165,612)
<br />Benefit payments, including refunds of employee contributions
<br />(144,180)
<br />(288,044) (278,108)
<br />Net change in total OPEB liability
<br />(1,230,989)
<br />(5,034,372) (742,192)
<br />Total OPEB liability, beginning
<br />5)801,736
<br />10,836,108 11,578,300
<br />Total OPEB liability, ending
<br />47570,747
<br />5,8011736 10,836,108
<br />Plan fiduciary net position
<br />Contributions - employer
<br />4,639,992
<br />288,044 -
<br />Contributions - employee
<br />-
<br />-
<br />Net investment income
<br />191,632
<br />Benefit Payments, including refunds of employee contributions
<br />(144,180)
<br />(288,044)
<br />Net plan to plan resource movement
<br />Administrative expense
<br />(2,398)
<br />Other miscellaneous income
<br />-
<br />Net change in fiduciarynet position
<br />4$685,046
<br />Plan fiduciary net position, beginning
<br />-
<br />Plan fiduciary net position, ending
<br />4,685,046
<br />- -
<br />Plan net OPEB liability
<br />$ (114,299) $
<br />5,801,736 $ 10,836,108
<br />Plan fiduciary net position as a percentage of the total OPEB liability
<br />102.50%
<br />0.00% 0.00%
<br />Covered payroll
<br />$ 7,122,600 $
<br />7,223,666 $ -
<br />Plan net OPEB liability as a percentage of covered payroll
<br />-1.60%
<br />80.32% N/A
<br />Notes to Schedule:
<br />Changes in Benefit Terms: None
<br />Changes in Assumptions: The average per capita claims cost was updated to reflect
<br />actual 2019 premiums, the
<br />health care cost trend rate was updated to reflect 2018 industry survey data,
<br />the mortality, withdrawal,
<br />disablement, and retirement tables was updated to reflect the 2017 CaIPERS studies. The population for curving
<br />and morbidity factors have also been updated to the 2017 CalPERS study. The Discount
<br />Rate changed from
<br />3.87% as of June 30, 2018 to 6.25% as of June 30, 2019. There
<br />have been no other
<br />assumption changes since
<br />the last measurement date.
<br />*Fiscal year 2018 (measurement period 2017) was the first year of implementation. Additional
<br />years will be presented as information becomes available.
<br />See notes to the required supplementary information.
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