ACFR - FY2020 5-28-21 FINAL - Flipbook - Page 77
NOTES TO FINANCIAL STATEMENTS
CITY OF EUSTIS, FLORIDA
(Continued)
Note 5 - Pension Plans (Continued)
FRS
Deferred Outflows
of Resources
Description
Differences between expected and
actual experience
$
Change of assumptions
Net difference between projected and actual
earnings on Pension Plan investments
28,341
Total
$
$
-
134,055
-
44,090
-
2,861
(81,846)
17,657
-
Changes in proportion and differences
between City Pension Plan contributions
and proportionate share of contributions
City Pension Plan contributions subsequent
to the measurement date
FRS
Deferred Inflows
of Resources
227,004
$
(81,846)
The deferred outflows of resources related to the Pension Plan, totaling $17,657,
resulting from City contributions to the Plan subsequent to the measurement date,
will be recognized as a reduction of the net pension liability in the fiscal year ended
September 30, 2020. Other amounts reported as deferred outflows of resources and
deferred inflows of resources related to the Pension Plan will be recognized in
pension expense as follows:
Fiscal Year Ending
September 30, 2020:
Deferred
Outflow / Inflow
Amount
$
9,462
49,294
43,595
22,811
2,339
$ 127,501
2021
2022
2023
2024
2025
Totals
60
