Notes to Financial Statements

Changes of assumptions and other inputs reflect a change in discount rate from 2.26% in 2021 to 4.02% in 2022�

Sensitivity of total OPEB liability to changes in the discount rate

The following presents the total OPEB liability of the City, as well as what the City’s total OPEB liability would be if it were calculated using the discount rate that is 1-percentage-point lower or 1-percentage-point higher that the current discount rate:

Sensitivity of total OPEB liability to changes in healthcare cost trend rates

There is no healthcare trend rate since the City has no obligation for benefits which would require trending.

OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB

For the year ended September 30, 2022, the City recognized OPEB expense of $1,125. At September 30, 2022, the City reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:

Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:

6) Risk Management

The City is exposed to various risks of loss related to torts, theft of, damage to, or destruction of assets, errors or omissions, or employee injuries. Workers’ compensation, property and general liability are being provided on a self-insured basis up to specified limits and is recorded in the City’s risk management funds (internal service fund to account for and finance these risks of loss).