2025202420232022
Measurement Date6/30/20246/30/20236/30/20226/30/2021
TOTAL OPEB LIABILITY
Service cost$ 383,189$ 357,354$ 294,337$ 378,897
Interest on total pension liability1,287,0561,193,0641,205,9431,161,531
Changes of benefit terms3,055,225--(910,834)
Changes of assumptions-1701,691,7921,053,761
Difference between expected and actual experience(997,730)1,327,257--
Benefit payments, including refunds of employee contributions(1,306,991)(1,082,459)(944,960)(819,968)
Net change in total OPEB liability2,420,7491,795,3862,247,112863,387
Total OPEB liability-beginning23,671,33521,875,94919,628,83718,765,450
Total OPEB liability-ending (a)26,092,08423,671,33521,875,94919,628,837
PLAN FIDUCIARY NET POSITION
Contributions-employer1,306,9911,108,9881,230,8951,140,548
Net investment income1,783,056748,799(3,022,583)3,878,532
Benefit payments, including refunds of employee contributions(1,306,991)(1,082,459)(944,960)(819,968)
Administrative expense(7,014)(6,023)(6,034)(7,193)
Other miscellaneous income/(expense)----
Net change in fiduciary net position1,776,042769,305(2,742,682)4,191,919
Plan fiduciary net position-beginning21,789,41521,020,11023,762,79219,570,873
Plan fiduciary net position-ending (b)23,565,45721,789,41521,020,11023,762,792
Net OPEB liability/(asset) (a) - (b)$ 2,526,627$ 1,881,920$ 855,839$ (4,133,955)
Plan fiduciary net position as a percentage of the total OPEB liability90.3%92.0%96.1%121.1%
Covered payroll$ 15,090,207$ 12,780,729$ 11,208,147$ 10,881,697
Plan net OPEB liability/(asset) as a percentage of coveredpayroll16.7%14.7%7.6%(38.0)%

Benefit Changes: None

Changes in Assumptions: None

1 Fiscal year 2018 was the first year of implementation; therefore, only eight years are shown.

Notes to Schedule of Changes in the Net OPEB Liability/(Asset) and Related Ratios:

See accompanying Notes to the Basic Financial Statements