PALM BEACH DOWNTOWN DEVELOPMENT AUTHORITY

Notes To Financial Statements

September 30, 2022

NOTE H – OTHER POSTEMPLOYMENT BENEFITS (Continued)

Changes in the Total OPEB Liability (Continued)

Changes in Assumptions: All assumptions, methods, and results are based on the fiscal year 2021 GASB 75 actuarial report dated January 24, 2022. Since the prior measurement date of September 30, 2021, the discount rate was increased from 2 43% per annum to 4 77% per annum

Sensitivity of the Total OPEB Liability to Changes in the Discount Rate: The following table presents the total OPEB liability of the DDA calculated using the current discount rateof 4.77%, as well as what the total OPEB liability would be if it were calculated using a discount rate that is one percentage point lower (3.77%) or one percentage point higher (5.77%) than the current rate:

Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates: The following table presents the total OPEB liability of the DDA calculated using the assumed healthcare cost trend rates (6.5% decreasing to 5 0%), as well as what the total OPEB liability would be if it were calculated using a discount rate that is one percentage point lower (5 5% decreasing to 4 0%) or one percentage point higher (7 5% decreasing to 6 0%) than the assumed healthcare cost trend rates: decreasing (8.0% decreasing to 4.0%) to 5.0%) to 6.0%)

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

For the year ended September 30, 2022, the DDA recognized OPEB expense of $1,583 As of September 30, 2022, the DDA reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources: