ACFR FY 2023 Final - Flipbook - Page 111
FINANCIAL SECTION
City of Eustis, Florida
NOTES TO FINANCIAL STATEMENTS
Note 8 - Other Postemployment Beneots (Continued)
Changes in the Total OPEB Liability
Fiscal Year
2023
Total OPEB Liability
Service Cost
$
86,833
Interest
53,960
Difference between Expected and Actual Experience
379,681
Change of assumptions and other inputs
234,579
Beneot Payments
(128,305)
Change in Total OpEb Liability
626,748
Total OpEb Liability beginning of the Year
2,364,975
Total OPEB Liability End of the Year
$ 2,991,723
Sensitivity of the Total OPEB Liability to Changes in the Discount Rate
The following table presents the total OpEb liability, calculated using the discount rate of 4ÿ40%, as
well as what the City9s total OpEb liability would be if it were calculated using a discount rate that
is one percentage point lower (3ÿ40%) or one-percentage-point higher (5ÿ40%) than the current
discount rate:
Total OpEb Liability
1% Decrease
3.40%
$
3,361,037
Current Discount
Rate
4.40%
$
2,991,723
1% Increase
5.40%
$
2,684,401
Sensitivity of the total OPEB Liability to Changes in the Healthcare Cost Trend Rates
The following table presents the total OpEb liability of the City, as well as what the City9s total OpEb
liability would be if it were calculated using a healthcare cost trend rate that is one percentage point
lower (1ÿ00%) or one-percentage-point higher (1ÿ00%) than the current discount rate:
Total OpEb Liability
Back to TOC
1% Decrease
2,679,779
Current Trend
Rate
2,991,723
Annual Comprehensive Financial Report | September 30, 2023
1% Increase
3,364,418
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