Acton-Boxborough Regional School District Notes to Basic Financial Statements Year Ended June 30, 2024
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended June 30, 2024, the District recognized OPEB expense of $4,257,345. At June 30, 2024, the District reported deferred outflows of resources and deferred inflows of resources related to OPEB from the following sources:
Deferred
Deferred Inflows of Resources
Outflows of Resources
Deferred Category
Total
$ (4,775,654) $ (4,775,654)
Differences between expected and actual experience… $ Difference between projected and actual earnings, net… 112,991 Changes in assumptions………………………………… 6,535,950
112,991 322,602
(6,213,348)
Total deferred outflows/(inflows) of resources…………$ 6,648,941 $ (10,989,002)$ (4,340,061)
Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in OPEB expense as follows:
Year ended June 30:
2025……………………………………$ (903,988) 2026…………………………………… (350,030) 2027…………………………………… (94,115) 2028…………………………………… (993,785) 2029…………………………………… (1,372,932) Thereafter….......................................... (625,211)
$ (4,340,061)
Changes of Assumptions
• The discount rate has increased from 5.92% to 6.55%. • The assumption for future increases in healthcare costs was modified using the Getzen model to reflect higher costs in the near-term.
Changes in Plan Provisions – None.
57
328
Made with FlippingBook Digital Publishing Software