PENSION/OPEB

business - type activities

The business-type activities’ increase in net position of $16.8 million represents an 37% decrease from the prior year’s change in net position which is largely attributable to the increase in expenses by 12% and an decrease in capital grants and contributions.

notes

The results indicate the City, as a whole, experienced an increase in total net position of $54 million which was a combination of revenues exceeding expenses.

*Does not include transfers.

This summary report excludes transfers. Transfers are used to support Government services. For full disclosure see our ACFR note section 3.F Interfund Balances and Activities.

Pension Liability Reported

changes in total opeb liability Sensitivity of the City's total OPEB Liability to changes in the discount rate

The following presents the City’s total OPEB liability, as well as what the City’s total OPEB liability would be if it were calculated using a discount rate that is 1-percentage-point lower (1.16%) or 1-percentage-point higher (3.16%) than the current discount rate: