KENTUCKY STATE UNIVERSITY
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2024
Medical Insurance Plan (Continued)
OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEBs (Continued)
For the year ended June 30, 2024, the University recognized OPEB expense of $25,000 and revenue of $25,000 for support provided by the State. At June 30, 2024, the University reported deferred outflows of resources and deferred inflows of resources related to OPEBs from the following sources:
| Deferred Outflows of Resources | Deferred Inflows of Resources |
|---|
| Net Difference Between Projected and Actual | | |
|---|
| Earnings on OPEB Plan Investments | $ 80,000 | $ - |
|---|
| Change in Assumptions | 974,000 | - |
|---|
| Differences Between Expected and Actual Experience | - | 1,452,000 |
|---|
| Changes in Proportion and Differences Between Employer Contributions and Proportionate Share of Contributions | 1,584,000 | 1,555,000 |
|---|
| University's Contributions Subsequent to Measurement Date | 339,580 | - |
|---|
| Total | $ 2,977,580 | $ 3,007,000 |
|---|
Of the total amount reported as deferred outflows of resources related to OPEB, $339,580 resulting from University contributions subsequent to the measurement date and before the end of the fiscal year will be included as OPEB expense in the year ended June 30, 2025. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be recognized in the University's OPEB expense as follows:
| Year Ending June 30, | Amount |
|---|
| 2025 | $ (158,000) |
| 2026 | (132,000) |
| 2027 | 110,000 |
| 2028 | 54,000 |
| 2029 | (97,000) |
| Thereafter | (146,000) |
| Total | $ (369,000) |
(59)