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NOTE 13 — OTHER POST -EMPLOYMENT BENEFITS (OPEB) PLAN (CONTINUED) <br />1. OPEB Expense and Related Deferred Outflow of Resources and Deferred Inflows of Resources <br />For the current year ended, the City recognized OPEB expense of $52,640. As of year-end, the City <br />reported deferred outflows of resources and deferred inflows of resources related to OPEB from the <br />following sources: <br />Differences between expected and actual experience <br />Changes of assumptions <br />City contributions subsequent to the measurement date <br />Total <br />Deferred Deferred <br />Outflows of inflows of <br />Resources Resources <br />$ 462,354 $ 259,256 <br />59,603 352,696 <br />17,187 - <br />$ 539,144 $ 611,952 <br />A total of $17,187 reported as deferred outflows of resources related to OPEB resulting from city <br />contributions subsequent to the measurement date will be recognized as a reduction of the total OPEB <br />liability in the year ending December 31, 2023. Other amounts reported as deferred outflows of resources <br />and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows: <br />June 30, Amount <br />2023 (16,217) <br />2024 (16,217) <br />2025 (16,217) <br />2026 (16,217) <br />2027 (16,217) <br />Thereafter (8,910) <br />Total $ (89,995) <br />NOTE 14 — FLEXIBLE BENEFIT PLAN <br />The City has a flexible benefit plan which is classified as a "cafeteria plan" (the Plan) under § 125 of the <br />Internal Revenue Code. All full-time and part-time regular employees of the City are eligible. Eligible <br />employees can elect to participate by contributing pre-tax dollars withheld from payroll checks to the Plan <br />for health and dental care, dependent care, life insurance premiums, and disability insurance benefits. <br />Payments are made from the Plan to participating employees upon submitting a request for reimbursement <br />of eligible expenses actually incurred by the participant. <br />Before the beginning of the plan year, which is from January 1 to December 31, each participant designates <br />a total amount of pre-tax dollars to be contributed to the Plan during the year. At December 31, the City is <br />contingently liable for claims against the total amount of participants' annual contributions to the health <br />and dental care portion of the Plan, whether or not such contributions have been made. <br />93 <br />