Page 67
COUNTY OF ADAMS, PENNSYLVANIA
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
DECEMBER 31, 2025
For the year ended December 31, 2024, the County recognized pension expense of $(695,211). At December 31, 2024 the County reported deferred outflows and inflows of resources related to pensions from the following sources:
| Deferred Outflows of Resources | Deferred Inflows of Resources |
|---|
| Differences between expected and actual experience | $ 42,187 | $ 822,247 |
| Changes in assumption | - | 1,835,308 |
| Net difference between projected and actual earnings on pension plan investments | - | 1,338,860 |
| Contributions subsequent to the measurement date | 2,139,429 | - |
| $ 2,181,616 | $ 3,996,415 |
The $2,139,429 reported as deferred outflows of resources related to pensions resulting from the County contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended December 31, 2026 financial statements. Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized in pension expense as follows:
Year ended December 31:
2026 $ (585,432)
2027 1,181,468
2028 (3,014,005)
2029 (1,536,259)
2030 -
Thereafter -
Pertinent information regarding leases at December 31, 2025 is presented below:
| Date of Issue | Initial Liability 1/1/25 | Purpose | Outstanding Liability Balance 12/31/25 | Asset Value 12/31/25 | Accumulated Amortization 12/31/25 |
|---|
| Various | $ 9,284,723 | The County leases various equipment, vehicles, and various real estate. The leases consist of 911 tower and space rental, vehicle rentals, and various equipment rentals. Terms of each lease vary with fixed annual, bi-annual, or monthly payments ranging from $58 to $41,528 and lease periods ranging from 2 years to 39 years. The County utilized an incremental borrowing rate of 4% for 2025. | $ 8,958,994 | $ 10,557,443 | $ (4,002,043) |
| | Total | $ 8,958,994 | $ 10,557,443 | $ (4,002,043) |