ACFR FY 2022 FINAL BOOK - Flipbook - Page 104
FINANCIAL SECTION
City of Eustis, Florida
NOTES TO FINANCIAL STATEMENTS
Note 8 - Other Postemployment Benefits (Continued)
Note 8 - Other postemployment benefits (Continued)
The City’s OpEb liability measurement date is September 30, 2022� The measurement period for
OpEb cost was October 1, 2021, to September 30, 2022� The components of the City’s total OpEb
liability on September 30, 2022, are as follows:
Total OPEB Liability
Total OpEb Liaility
OpEb plan Fiduicary Net position
City’s Total OpEb Liability
OpEb plan Fiduciary Net position as a percentage of Total OpEb Liability
$
$
2,364,975
2,364,975
0�00%
Actuarial Assumptions The total OpEb liability as of September 30, 2022, was based on a roll-forward of the actuarial valuation dated October 1, 2021, using the following actuarial assumptions:
Inflation
Discount Rate
Healthcare Cost Trend Rate
2�50% per annum
2�26%
7�50% per annum (including inflation of 2�50%)
mortality rates for police officers and firefighters were based on the same versions of pub-2010
Headcount-Weighted mortality Tables as used by the FRS for Special Risk� Class members in their
July 1, 2021, actuarial valuation (with mortality improvements projected for healthy to all future years
after 2010, using Scale mp-2018)� Florida Statutes Chapter 1112�63(1)(f) mandates this use of mortality
tables from one of the two most recently published FRS actuarial valuation reports�
Discount Rate The discount rate used to measure the total OpEb liability on September 30, 2022,
was 2�26%� because the City’s OpEb costs are essentially funded on a pay-as-you-go funding structure, a municipal bond rate was used to determine the total pension liability for the program� The
bond buyer General Obligation 20-bond municipal bond Index was adopted�
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Annual Comprehensive Financial Report | September 30, 2022