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6.G. - Pa§f Redwood 187 <br />City <br />Notes to the Basic Financial Statements <br />For the fiscal year ended June 30, 2018 <br />NOTE 9 — EMPLOYEE BENEFITS (CONTINUED) <br />B. Post Employment Benefits, Continued <br />Sensitivity of the Net OPEB Liability to Changes in the Health Care Cost Trend Rates <br />The following presents the net OPEB liability of the City if it were calculated using health care cost trend <br />rates that are one percentage point lower or one percentage point higher than the current rate, for <br />measurement period ended June 30, 2017: <br />Current <br />1% Decrease Trend Rate 1% Increase <br />Net OPEB Liability 46,946,464 57,337,709 70,496,053 <br />Recognition of Deferred Outflows and Deferred Inflows of Resources <br />Gains and losses related to changes in total OPEB liability and fiduciary net position are recognized in <br />OPEB expense systematically over time. Amounts are first recognized in OPEB expense for the year the <br />gain or loss occurs. The remaining amounts are categorized as deferred outflows and deferred inflows of <br />resources related to OPEB and are to be recognized in future OPEB expense. The recognition period <br />differs depending on the source of the gain or loss: <br />Net difference between projected and 5Years <br />actual earnings on OPEB plan <br />investments <br />All other amounts Expected average remaining service lifetime (EARSL) <br />OPEB Expense and Deferred Outflows/(Inflows) of Resources Related to OPEB <br />For the fiscal year ended June 30, 2018, the City recognized OPEB expense of $6,165,269. For the fiscal <br />year ended June 30, 2018, the City reported deferred outflows of resources and deferred inflows of <br />resources related to OPEB from the following sources: <br />OPEBcontributions subsequent to <br />measurement date <br />Changes of Assumptions <br />Net differences between projected and actual <br />earnings on plan investments <br />Tota I <br />Deferred Deferred <br />Outflows of Inflows of <br />P—ni i rrcc P— niirr— <br />$ 6,830,405 $ - <br />- 571,699 <br />$ 6,830,405 $ 571,699 <br />76 282 <br />