For the year ended June 30, 2025, the City recognized pension expense of $7,380,538. At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:
| Deferred Outflows of Resources | Deferred Inflows of Resources |
|---|
| Pension contributions subsequent to the measurement date | $ 5,697,799 | $ - |
| Differences between expected and actual experience | 2,509,642 | - |
| Net difference between projected and actual earnings on pension plan investments | 1,837,756 | - |
| Total | $ 10,045,197 | $ - |
The $5,697,799 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ending June 30, 2026. Other amounts reported as deferred inflows of resources related to pensions will be recognized as pension expense as follows:
Fiscal year ended June 30, Deferred Outflows/(Inflows) of Resources
2026 $ 1,832,210
2027 3,595,927
2028 (418,113)
2029 (662,626)
Total $ 4,347,398