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AJE 4159 OPEB OLTLHTE info Group type (F4)AJ Adjusting journal Group date 05/23/18 Accounting period 13 Accounting year 2017 Group description Accrue OPEB for 2017 Create document N (Y=Yes; N=No) Count entered 15 Debit amount entered 27,879.00 Credit amount entered 27,879.00 Transaction date 09/30/17 Page:1 of 1 Group number Fund/Account Name Account number Debit Credit GLTD/General Govt/OPEB Accrual 950 -1009 -510 .26 -00 5,121 GLTD/Police/OPEB Accrual 950 -2001 -510 .26 -00 8,535 GLTD/Public Works/OPEB Accrual 950 -5001 -510 .26 -00 569 GLTD/Recreation/OPEB Accrual 950 -6010 -510 .26 -00 4,267 GLTD/OLTL/OPEB Accrual 950 -0000 -237 .00 -00 18,492 Water Production/OPEB Accrual 400 -5502 -533 .26 -00 570 Water Distribution/OPEB Accrual 400 -5504 -533 .26 -00 1,138 Water/OLTL/OPEB Accrual 400 -0000 -237 .00 -00 1,708 Sewer Collection/OPEB Accrual 410 -5506 -535 .26 -00 853 Sewer Treatment/OPEB Accrual 410 -5508 -535 .26 -00 3,129 Sewer/OLTL/OPEB Accrual 410 -0000 -237 .00 -00 3,982 Stormwater/OPEB Accrual 470 -0000 -538 .26 -00 1,421 Stormwater/OLTL/OPEB Accrual 470 -0000 -237 .00 -00 1,421 BCE Protective Services/OPEB Accrual 455 -1008 -524 .26 -00 2,276 BCE Protect Services/OLTL/OPEB Accrual 455 -0000 -237 .00 -00 2,276 Batch Count:15 Control Total 27,879.00 27,879.00 Explanation:Entry to record FY 2016/2017 post employment benefits other than pension accrual/adjustment per GRS valuation dated 10/01/16. Prepared by:Approved by: O:\Finance\Audit\FY 2017\AA - Open Item List\04 - Payroll\C - OPEB Calc\[2017 OLTL - OPEB.xls]AJE 05/23/18 City of Atlantic Beach OPEB Calculation FY 2016 / 2017 (B) Increase in (A)Net OPEB 2014 Obligation Active per Active (A) x (B) Dept/Div/Acct Fund #Department Division Participant Participant Accrual Subtotal 1002-512 001 Executive City Manager 284 - 1003-513 001 Financial & Administrative Finance 284 - 1005-515 001 Comprehensive Planning Planning & Zoning 284 - 1006-524 001 Protective Inspections Code Enforcement 284 - 1007-512 001 Executive City Clerk 284 - 1010-513 001 Financial & Administrative Human Resources 284 - 1011-516 001 Financial & Administrative IT 284 - 1012-519 001 City Administration Painting 18 284 5,121 5,121 General Govt 2001-521 001 Police Police Administration 30 284 8,535 8,535 Public Safety 5001-541 001 Public Works Public Works Administration 2 284 569 569 Transportation 6010-572 001 Parks & Recreation Parks & Rec-Administration 284 - 6020-572 001 Parks & Recreation Parks & Rec-Parks Maintenance 15 284 4,267 4,267 Parks and Recreation Governmental 65 18,492 18,492 5502-533 400 Public Utilities Water Services -Production 2 284 569 5504-533 400 Public Utilities Water Services -Distribution 4 284 1,138 5506-535 410 Public Utilities Sewer Services-Collection/Transmission 3 284 853 5508-535 410 Public Utilities Sewer Services-Treatment 11 284 3,129 5,690 Utility 0000-538 470 Stormwater Stormwater 5 284 1,421 1,421 Stormwater 1008-524 455 Protective Inspections Building Code Enforcement 8 284 2,276 2,276 Building Code Enforcement Enterprise 33 9,387 9,387 Total 98 27,879 27,879 Total Accrual Amount Source: GRS OPEB Actuarial Report as of 10/01/16 Gen'l Gen'l Enterprise Enterprise Gov't %Gov't $Funds %Funds $ Accrual Calculation: Amount to be Accrued $27,879 66.327%$18,492 33.673%$9,388 Increase per Active Participant 284 284 O:\Finance\Audit\FY 2017\AA - Open Item List\04 - Payroll\C - OPEB Calc\[2017 OLTL - OPEB.xls]AJE Gabriel Roeder Smith & Company City of Atlantic Beach OPEB for YE 9/30/2016 | F-4 DISCLOSURES FOR FISCAL YEAR ENDING 9/30/2017 GASB allows for performing actuarial valuation biennially with results applicable to two reporting years (per paragraph 12 of GASB Statement 45). However, a new fully compliant valuation would need to be performed if significant changes have occurred since the previous valuation that affect the valuation results, including significant changes in benefit provisions, the size or composition of the membership, or other factors that impact long-term actuarial assumptions through the reporting date. Refer also to Q&A 8.17.5 of the 2013-2014 Comprehensive Implementation Guide. In the absence of such changes, following disclosures can be used in your 2016/2017 fiscal year reporting. Employer FYE September 30 2017 2016 2015 Normal Cost (service cost for one year) 33,034$ 31,239$ 32,032$ Amortization of Unfunded Actuarial Accrued Liability 18,731 18,011 17,673 Interest on Normal Cost and Amortization - - - Annual Required Contribution (ARC) 51,765 49,250 49,705 Net OPEB Obligation (NOO) at beginning of year 271,677 238,298 208,681 Annual Required Contribution (ARC) 51,765 49,250 49,705 Interest on NOO 10,867 9,532 8,347 Adjustment to ARC (12,349) (10,361) (8,695) Annual OPEB Cost (Expense) 50,283 48,421 49,357 Employer Contributions Made (22,404) (15,042) (19,740) Increase (decrease) in NOO 27,879 33,379 29,617 NOO at end of year 299,556 271,677 238,298 Required Actuarial Information (GASB STATEMENT NO. 45) Actuarial Value of Assets Actuarial Accrued Liability (AAL) - Entry Age Unfunded AAL (UAAL) Funded Ratio Covered Payroll UAAL as a Percentage of Covered Payroll (a) (b) (b - a) (a / b) (c) ([b - a] / c) 10/1/2009 $0 $497,883 $497,883 0.00%$5,828,339 8.54% 10/1/2012 $0 $360,584 $360,584 0.00% $4,204,177 8.58% 10/1/2015 $0 $406,200 $406,200 0.00% $5,459,992 7.44% Schedule of Funding Progress Actuarial Valuation Date Fiscal Year Ending Annual OPEB Cost Amount Contributed Percentage of Annual OPEB Cost Contributed Net OPEB Obligation 9/30/2015 $49,357 $19,740 39.99% $238,298 9/30/2016 $48,421 $15,042 31.07% $271,677 9/30/2017 $50,283 $22,404 44.56% $299,556 Schedule of Employer Contributions