CAFR 2017

Schedule 6

Schedule of Employer Contributions Other Postemployment Benefit (OPEB) Trust Required Supplementary Information Fiscal Years Ending June 30, 2017 and 2016

2017

2016

Actuarially determined employer contribution

$

9,701,120

$

8,711,948

Actual employer contributions

5,155,834

4,734,307

$

4,545,286

$

3,977,641

Annual contribution deficiency (excess)

Covered employee payroll

$ 137,120,463

$ 137,120,463

Actual contributions as a percentage of covered employee payroll

3.76%

3.45%

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:

Valuation Date

6/30/2016

Actuarial cost method Amortization method Asset valuation method Actuarial Assumptions: Inflation Remaining amortization period

Projected Unit Cost Level percent of pay

25 years, closed Market Value

3.00% 0.50% 3.50%

Real wage growth Wage inflation

Salary increases, including inflation General employees

3.50%-7.75% 3.50%-7.75% 3.50%-7.35%

Firefighters

Law enforcement officers Investment rate of return Medical cost trend rate Year of ultimate trend rate

5.50%

7.75% - 5.00%

2022

All years for which information is available are presented.

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