NASHUA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended June 30, 202]
Other capital assets:
Land improvements 30,946,937 30,946,937
Buildings and improvements 1,524,854 1,524,854
Equipment 3,244,353 3,244,353
Total other capital assets at historicalcost _ 35,716,144 : : 35,716,144
Less accumulated depreciation for:
Land improvements (13,064,575) (1,392,571) (14,457,146)
Buildings and improvements (1,092,537) (38,978) (1,131,515)
Equipment (1,268,841) (189,899) (1,458,740)
Total accumulated depreciation (15,425,953) (1,621,448) : (17,047,401)
Total other capital assets, net 20,290,191 (1,621,448) : 18,668,743
Total capital assets, net $ 24,529,872 $ 544,088 $ - $ 25,073,960
NOTE 4—OTHER POSTEMPLOYMENT BENEFITS
Plan Description
The New Hampshire Retirement System (NHRS) administers a cost-sharing multiple-employer other
postemployment benefit plan (OPEB Pian), The OPEB Plan provides a medical insurance subsidy to
qualified retired members.
The NHRS issues a publicly available financial report that includes financial statements and required
supplementary information for NHRS. That report may be obtained by writing to New Hampshire
Retirement System at 54 Regional Drive, Concord, New Hampshire 03301 or from their website at
www.nhrs.org,
The OPEB Plan is divided into four membership types. Political subdivision employees, teachers and State
employees belong to Group I. Police officers and firefighters belong to Group I]. The OPEB plan is closed
to new entrants.
Benefits Provided
Benefit amounts and eligibility requirements for the OPEB Plan are set by state law (RSA 100-A:52, RSA
100-A:52-a and RSA 100-A:52-b), and members are designated in statute by type. The medical insurance
subsidy is a payment made by NHRS to the former employer or its insurance administrator toward the cost
of health insurance for a qualified retiree, his/her qualified spouse, and his/her certified dependent children
with a disability who are living in the household and being cared for by the retiree. If the health insurance
premium amount is less than the medical subsidy amount, then only the health insurance premium amount
will be paid. If the health insurance premium amount exceeds the medical subsidy amount, then the retiree
or other qualified person is responsible for paying any portion that the employer does not pay.
Group I benefits are based on creditable service, age and retirement date. Group II benefits are based on
hire date, age and creditable service. Medical subsidy rates established by RSA 100-A:52 II are dependent
upon whether retirees are eligible for Medicare. Retirees not eligible for Medicare may receive a maximum
medical subsidy of $375.56 for a single person plan and $751.12 for a two-person plan. Retirees eligible
for Medicare may receive a maximum medical subsidy of $236.84 for a single person plan and $473.68 for
a two-person plan.
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