2019 Comprehensive Annual Financial Report (CAFR)

Schedule 5

Schedule of Employer Contributions Other Postemployment Benefit (OPEB) Trust

Required Supplementary Information Fiscal Years Ending June 30, 2016-2019

2019

2018

2017

2016

Actuarially determined employer contribution

$

11,780,773

$

11,780,773

$

9,701,120

$

8,711,948

Actual employer contributions

5,974,220

7,224,634

5,155,834

4,734,307

Annual contribution deficiency (excess)

$

5,806,553

$

4,556,139

$

4,545,286

$

3,977,641

Covered employee payroll

$

152,675,910

$

146,948,521

$

141,462,474

$

138,667,895

Actual contributions as a percentage of covered employee payroll

3.91%

4.92%

3.64%

3.41%

Notes to the Required Schedule:

The information presented in the required supplementary schedules was determined as part of the actuarial valuations at the dates indicated. The following actuarial methods and assumptions were used to determine contribution rates:

6/30/2018 Entry age normal Level percentage of pay 24 years Market value

Valuation Date Actuarial cost method Amortization method Remaining amortization period Asset valuation method Actuarial Assumptions: Inflation Real wage growth Wage inflation Salary increases, including inflation General employees Firefighters Law enforcement officers

2.50% 1.00% 3.50%

3.50%-7.75% 3.50%-7.75% 3.50%-7.35% 5.50% 7.25% - 4.75% 2028

Investment rate of return Medical cost trend rate Year of ultimate trend rate

All years for which information is available are presented.

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