Page 94 - Hudson CAFR Report 2018
P. 94
HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018
NOTE 13 - DEFINED BENEFIT OPEB PLANS - (Continued)
SERS STRS Total
Proportion of the net OPEB 0.30907880% 0.25926828%
liability prior measurement date
0.30216347% 0.25609999%
Proportion of the net OPEB -0.00691533% -0.00316829%
liability current measurement date
$ 8,109,274 $ 9,992,076 $ 18,101,350
Change in proportionate share $ 434,828 $ (3,060,573) $ (2,625,745)
Proportionate share of the net
OPEB liability
OPEB expense
At June 30, 2018, the District reported deferred outflows of resources and deferred inflows of resources
related to OPEB from the following sources:
SERS STRS Total
Deferred outflows of resources $ - $ 576,805 $ 576,805
Differences between expected and
actual experience 25,155 - 25,155
Difference between District contributions 203,392 - 203,392
and proportionate share of contributions/ $ 228,547 $ 576,805 $ 805,352
change in proportionate share
District contributions subsequent to the
measurement date
Total deferred outflows of resources
Deferred inflows of resources $ 21,415 $ 427,085 $ 448,500
Net difference between projected and 769,528 804,894 1,574,422
actual earnings on pension plan investments
Changes of assumptions 160,676 69,170 229,846
Difference between District contributions $ 951,619 $ 1,301,149 $ 2,252,768
and proportionate share of contributions/
change in proportionate share
Total deferred inflows of resources
$203,392 reported as deferred outflows of resources related to OPEB resulting from District contributions
subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the year
ending June 30, 2019. Other amounts reported as deferred outflows of resources and deferred inflows of
resources related to OPEB will be recognized in OPEB expense as follows:
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