Deferred outflows of resources and deferred (inflows) of resources related to pensions will
be recognized in pension expense as follows:
Year ended June 30:
2022 $ (1,664,312)
2023 (1,458,395)
2024 (1,429,395)
2025 (1,645,060)
2026 63,931
Thereafter 184,873
Total $ (5,948,358)
Consolidation of Net Pension Liabilities and Related Deferred Outflows and (Inflows)
The following consolidates the City’s proportionate share of the NHRS net pension liability
and related deferred outflows/{inflows), and the City’s BPW pension plan net pension
liability and related deferred outflows/(inflows) at June 30, 2021:
Total Total
Net Deferred Deferred Total
Pension Outflows of (Inflows) of Pension
Liability Resources Resources Expense
Proportionate share of NHRS $§ 320,002,458 $ 87,815,424 $ (8,695,180) $ 47,883,163
City BP'W Pension Plan 257,345 1,666,161 (7,614,519) (1,168,294)
$ 320,259,803 $ 89,481,585 $ (16,309,699) $ 46,714,869
The City reports a net pension liability in governmental activities as these respective
employees are members of the NHRS, while governmental activities and business-type
activities report a net pension liability for the City’s BPW pension plan as these respective
employees are included only in the City’s plan.
Other Post-Employment Benefits (GASB 75)
GASB Statement No. 75, Accounting and Financial Reporting for Postemployment
Benefits Other Than Pensions, replaces the requirements of Statement No. 45, Accounting and
Financial Reporting by Employers for Postemployment Benefits Other Than Pensions. The
Statement establishes standards for recognizing and measuring liabilities, deferred outflows
of resources, deferred inflows of resources, and expense/expenditures. This Statement
identifies the methods and assumptions that are required to be used to project benefit
payments, discounted projected benefit payments to their actuarial present value, and
attribute that present value to periods of employee service.
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