Page 65 - 2019-20 CAFR
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Rogue Community College
Notes to Basic Financial Statements
Year ended June 30, 2020
8. Pension Plans (continued)
Pension Liability, Pension Expense, and Deferred Outflow of Resources and Deferred Inflow of
Resources Related to Pensions (continued)
liability was based on a projection of the College’s long‐term share of contributions to the pension
plan relative to the projected contributions of all participating entities, actuarially determined. At June
30, 2020, the College's proportion was 0.167%, which was a decrease from its proportion of 0.178%
measured as of June 30, 2019.
For the year ended June 30, 2020, the College recognized a pension expense of $3.9 million. At June
30, 2020, the College reports deferred outflow of resources and deferred inflow of resources related
to pensions from the following sources as shown:
Deferred Outflow of Deferred Inflow of
Resources Resources
Differences between expected and actua l experi ence $ 1,597,143 $ 0
Changes of assumptions 3,928,961 0
Net difference between projected and actual earnings
0 821,030
on investments
Cha nges i n 530,888 1,044,099
proporti on
Differences between employer contributions and
0 1,092,304
proportionate s hare of contributions
Tota l (pri or to pos t‐mea s urement da te contributi ons ) 6,056,992 2,957,433
Contri butions subsequent to the meas urement da te 2,911,141 0
Tota l $ 8,968,133 $ 2,957,433
There is $2.9 million reported as deferred outflow of resources related to the pensions resulting from
College contributions subsequent to the measurement date. This amount will be recognized as a
reduction of the net pension liability in the year ended June 30, 2021. Other amounts reported as
deferred outflow of resources and deferred inflow of resources related to pensions will be recognized
in pension expense as indicated in the following:
Recognized Net Deferred
Fisca l Year Outflow (Inflow) of Resources
2019‐20 $ 2,405,193
2020‐21 (57,431)
2021‐22 479,684
2022‐23 300,355
2023‐24 (28,242)
Total $ 3,099,559
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