Sensitivity of the Proportionate Share of the Net OPEB Liability to Changes in the Health Care Cost Trend Rate
The total OPEB liability is based on a medical benefit that is a flat dollar amount; therefore, it is unaffected by a health care cost trend rate. An increase or decrease in the trend rate would have no effect on the total OPEB liability.
Note 7 – Other Commitments
Encumbrance accounting is utilized to the extent necessary to assure effective budgetary control and accountability and to facilitate effective cash planning and control. At year end the amount of encumbrances expected to be honored upon performance by the vendor in the next year were as follows:
| Fund | Amount |
|---|---|
| General | $157,484 |
| Health District | 1,340 |
| Capitol Improvement | 548,067 |
| Water | 857,272 |
| Sewer | 949,232 |
| Stormwater | 145,960 |
| Nonmajor Funds | 732,005 |
| Total | $3,391,360 |
Note 8 – Interfund Transfers
The following is a summary of transfers in and out for all funds in 2024:
Each transfer row lists the fund, transfers in, and transfers out.
| Fund | Transfers | |
|---|---|---|
| In | Out | |
| General | $0 | $2,887,078 |
| Health District | 36,566 | 0 |
| Capital Improvement | 1,400,000 | 0 |
| Other Governmental Funds | 1,450,512 | 0 |
| Total All Funds | $2,887,078 | $2,887,078 |
All interfund transfers are routine in nature and are to subsidize the operations of the applicable fund.
Note 9 – Contingent Liabilities
Amounts received or receivables from grant agencies are subject to audit and adjustment by grantor agencies, principally the Federal or State governments. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures that may be disallowed by the grantor cannot be determined at this time, although the City expects such amounts, if any, to be immaterial.
The City is named in a variety of lawsuits in the course of its normal governmental operations. Liability, if any, which might result from these proceedings would not, in the opinion of management and legal counsel, have a material effect on the position of the City.