ACFR - FY2020 5-28-21 FINAL - Flipbook - Page 86
NOTES TO FINANCIAL STATEMENTS
CITY OF EUSTIS, FLORIDA
(Continued)
Note 5 - Pension Plans (Continued)
Total Pension
Liability
(a)
$ 27,676,229
Police Officers
Balances at September 30, 2019
Changes for a Year:
Service Cost
628,111
Interest
2,041,898
Benefit Changes
18,821
Differences between Expected and Actual Experience
(233,718)
Changes of assumptions
375,278
Changes of benefit terms
Contributions - Employer
Contributions - State
Contributions - Employee
Net Investment Income
Differences between Projected and Actual
Benefit Payments, including Refunds of Employee Contributions (1,046,817)
Other (Change in Share Plan Reserve)
28,684
Administrative Expense
Net Changes
1,812,257
Balances at September 30, 2020
$ 29,488,486
Increase (Decrease)
Plan Fiduciary
Net Pension
Net Position
Liability
(b)
(a)-(b)
$ 21,680,255
$ 5,995,974
1,048,482
166,208
105,471
63,246
(1,046,817)
(58,912)
277,678
$ 21,957,933
628,111
2,041,898
18,821
(233,718)
375,278
(1,048,482)
(166,208)
(105,471)
(63,246)
28,684
58,912
1,534,579
$ 7,530,553
Increase (Decrease)
Total Pension
Liability
(a)
$ 12,676,305
Firefighters
Balances at September 30, 2019
Changes for a Year:
276,487
Service Cost
985,657
Interest
18,844
Share plan allocation
109,268
Differences between Expected and Actual Experience
(153,334)
Changes of assumptions
Changes of benefit terms
Contributions - Employer
Contributions - State
Contributions - Employee
Net Investment Income
(632,316)
Benefit Payments, including Refunds of Employee Contribution
Administrative Expense
604,606
Net Changes
$ 13,280,911
Balances at September 30, 2020
69
Plan Fiduciary
Net Position
(b)
$ 10,271,020
Net Pension
Liability
(a)-(b)
$ 2,405,285
589,041
113,354
57,081
1,309,135
(632,316)
(40,132)
1,396,163
$ 11,667,183
$
276,487
985,657
18,844
109,268
(153,334)
(589,041)
(113,354)
(57,081)
(1,309,135)
40,132
(791,557)
1,613,728
