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Res18 15642
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Res18 15642
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Last modified
8/1/2018 3:26:01 PM
Creation date
1/23/2018 3:06:33 PM
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
1/22/2018
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$17,721,552 reported as deferred outflows of resources related to contributions <br />subsequent to the measurement date will be recognized as a reduction of the net pension liability <br />in the fiscal year ended June 30, 2018. Other amounts reported as deferred outflows of resources <br />and deferred inflows of resources related to pensions will be recognized as pension expenses as <br />follows: <br />Fiscal Year Ending June 30: <br />2018 <br />1,649, 511 <br />2019 <br />3,020,849 <br />2020 <br />10,663,904 <br />2021 <br />5,855,213 <br />Source: City of Redwood City 2017 Comprehensive Annual Financial Report <br />Three-year trend information for the City's pension plan for both miscellaneous and safety <br />plans for fiscal years ending June 30 is set forth below: <br />Three-year Trend of Annual Pension Cost <br />Miscellaneous <br />Fiscal year <br />Annual <br />Percentage of <br />ended <br />pension cost <br />APC <br />Net pension <br />June 30 <br />APC <br />contributed <br />obligations <br />2015 <br />$6,799,358 <br />100% <br />$ — <br />2016 <br />6,923,087 <br />100 <br />2017 <br />7,428,605 <br />100 <br />Source: City of Redwood City <br />Public Safetv <br />Fiscal year <br />Annual <br />Percentage of <br />ended <br />pension cost <br />APC <br />Net pension <br />June 30(APC) <br />contributed <br />obligations <br />2015 <br />$9,667,759 <br />100% <br />$ -- <br />2016 <br />10,439,692 <br />100 <br />2017 <br />10,292,946 <br />100 <br />Source: City of Redwood City <br />A-13 <br />
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