Page 61 - BAA CAFR 2017

BIRMINGHAM AIRPORT AUTHORITY
NOTES TO THE FINANCIAL STATEMENTS

NOTE 10 PENSION PLAN (CONTINUED)

Pension Expense and Deferred Outflows/Inflows of Resources Related to
Pensions- Authority

Projected Recognition of Deferred Outflows/(Inflows)
Amount
Outstanding Recognized Outstanding
Year Initial Balance at July During FYE June Balance at June
Established Balance 1, 2016 30, 2017 30, 2017

Fiscal Year Outflows
Liability loss 2015 $ 11,335,035 $ 7,556,692 $ 1,889,173 $ 5,667,519
Investment loss 2015 27,004,744 16,202,847 5,400,949 10,801,898
Assumptions 2015 89,619,076 59,746,048 14,936,512 44,809,536
Liability loss 2016 19,757,884 16,464,905 3,292,981 13,171,924
Investment loss 2016 71,077,315 56,861,852 14,215,463 42,646,389
Assumptions 2016 382,927,078 319,105,900 63,821,180 255,284,720
Proportionate share (Authority) 2016 1,705,075 1,420,895 284,179 1,136,716
Proportionate share (Authority) 2017 112,905 - 18,820 94,085
Total Outflows $ 477,359,139 $ 103,859,257 $ 373,612,787
Fiscal Year Inflows
Proportionate share (City) 2016 $ (1,705,075) $ (1,420,895) $ (284,179) $ (1,136,716)
Liability gain 2017 (31,185,752) - (5,197,627) (25,988,125)
Investment gain 2017 (38,226,369) - (7,645,273) (30,581,096)
Assumptions 2017 (304,984,286) - (50,830,716) (254,153,570)
Proportionate share (City) 2017 (112,905) - (18,820) (94,085)
Total Inflows $ (1,420,895) $ (63,976,615) $ (311,953,592)
Total $ 475,938,244 $ 39,882,642 $ 61,659,195

[INTENTIONALLY LEFT BLANK]

34