Acton-Boxborough Regional School District Notes to Basic Financial Statements Year Ended June 30, 2024
measurement date. The District’s proportion of the net pension liability was based on a projection of the District’s long-term share of contributions to the pension plan relative to the projected contributions of all participating members, actuarially determined. At December 31, 2023, the District’s proportion was 1.91%, which decreased from its proportion measured at December 31, 2022 of 1.93%.
Pension Expense
For the year ended June 30, 2024, the District recognized pension expense of $3,844,662 and reported deferred outflows of resources and deferred inflows related to pensions of $3,714,447 and $643,260, respectively.
The changes in deferred outflows of resources and inflows of resources related to pensions is as follows:
Deferred
Deferred Inflows of Resources
Outflows of Resources
Deferred Category
Total
Differences between expected and actual experience…………$ 929,748 $
- $
929,748 1,656,672 207,652 277,115
Difference between projected and actual earnings, net……… Changes in assumptions……………………………………… Changes in proportion and proportionate share of contributio
1,656,672 207,652 920,375
- -
(643,260)
Total deferred outflows/(inflows) of resources……………… $ 3,714,447 $ (643,260) $ 3,071,187
The District’s deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense as follows:
Year ended June 30:
2025…………………………………$ 563,206 2026………………………………… 803,430 2027………………………………… 1,748,882 2028………………………………… (44,331)
Total……………………………… $ 3,071,187
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