The changes in the net OPEB liability/(asset) for the Plan are as follows:
| Total OPEB Liability (a) | Plan Fiduciary Net Position (b) | Net OPEB Liability/(Asset) (c) = (a) - (b) | |
|---|---|---|---|
| Balance at June 30, 2023 (measurement date) | $ 23,671,335 | $ 21,789,415 | $ 1,881,920 |
| Changes in the year: | |||
| Service cost | 383,189 | - | 383,189 |
| Interest on total OPEB liability | 1,287,056 | - | 1,287,056 |
| Contributions - employer | - | 1,306,991 | (1,306,991) |
| Net investment income | - | 1,198,225 | (1,198,225) |
| Benefit payment contributions | (1,306,991) | (1,306,991) | - |
| Changes due to investment experience | - | 584,831 | (584,831) |
| Changes in benefit terms | 3,055,225 | - | 3,055,225 |
| Change in trust return/discount Rate | (997,730) | - | (997,730) |
| Administrative expense | - | (7,014) | 7,014 |
| Net changes | 2,420,749 | 1,776,042 | 644,707 |
| Balance at June 30, 2024 (measurement date) | $ 26,092,084 | $ 23,565,457 | $ 2,526,627 |
The following presents the total OPEB liability and net OPEB liability/(asset), as well as what the total OPEB liability and net OPEB liability/(asset) would be if they were calculated using a discount rate that is 1-percentage point lower 4.85 percent) or 1-percentage-point higher (6.85 percent) than the current discount rate:
| Discount Rate -1% (4.85%) | Current (5.85%) | Discount Rate +1% (6.85%) | |
|---|---|---|---|
| Plan's net OPEB liability/(asset) | $ 5,546,833 | $ 2,526,627 | $ (9,011) |
The following presents the total OPEB liability and net OPEB liability/(asset), as well as what the total OPEB liability and net OPEB liability/(asset) would be if they were calculated using healthcare cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend rates:
| Current | ||
| 1% Decrease | Healthcare Trend Rate | 1% Increase |
|---|---|---|
| $ (278,177) | $ 2,526,627 | $ 5,897,995 |
Plan's net OPEB liability/(asset)