ACFR FY 2023 Final - Flipbook - Page 103
FINANCIAL SECTION
City of Eustis, Florida
NOTES TO FINANCIAL STATEMENTS
Note 7 - Pension Plans (Continued)
For the year ended September 30, 2023, the City will recognize pension expense of $2,349,217
and $922,916 for Police and Fireoghters, respectively. On September 30, 2023, the City reported
Deferred Outflow of Resources and Deferred Inflow for police and Fire Department Resources related
to pensions from the following sources:
Differences between Expected and Actual Experience
Changes of assumptions
Net difference between projected and Actual Earnings on pension plan
Investments
Total
Police Deferred
Inflows of
Resources
$
283,536
34,089
$
317,625
Police Deferred
Outflows of
Resources
$
235,938
604,039
$
2,160,029
3,000,006
Amounts reported as Deferred Outflows of Resources and Deferred Inflows of Resources related to
pensions will be recognized in pension Expense as follows:
Year ended September 30, 2023:
2024
$
909,674
2025
742,553
2026
1,162,342
2027
(132,188)
2028
Thereafter
Total
$ 2,682,381
Differences between Expected and Actual Experience
Changes of assumptions
Net difference between projected and Actual Earnings on pension plan
Investments
Total
Fire Deferred
Inflows of
Resources
$
570,029
-
$
570,029
Fire Deferred
Outflows of
Resources
$
$
106,265
1,329,501
1,435,766
Amounts reported as Deferred Outflows of Resources and Deferred Inflows of Resources related to
pensions will be recognized in pension Expense as follows:
Year ended September 30, 2023:
2024
2025
2026
2027
2028
Thereafter
Total
Back to TOC
$
226,943
256,633
490,603
(108,442)
865,737
Annual Comprehensive Financial Report | September 30, 2023
103
