Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions (Continued)
For the year ended June 30, 2023, the University was allocated pension expense of $1,131,911 including $639,673 for support provided by the Commonwealth. At June 30, 2023, the University 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 | |
|---|---|---|
| Net Difference Between Projected and Actual Earnings on Investments | $ 1,479,343 | $ - |
| Change in Assumptions | 2,105,559 | - |
| Differences Between Expected and Actual Experience | - | 805,895 |
| Changes in Proportion and Differences Between Employer Contributions and Proportionate Share of Contributions | 961,493 | 3,679,741 |
| Contributions Subsequent to Measurement Date | 1,549,438 | - |
| Total | $ 6,095,833 | $ 4,485,636 |
At June 30, 2023, the University reported $1,549,438 as deferred outflows of resources related to pensions resulting from University contributions subsequent to the measurement date that will be recognized as pension expense in the following fiscal year. Net deferred outflow (inflows) of resources at June 30, 2023, related to pensions will be recognized in pension expense as follows:
| Year Ending June 30, | Amount |
|---|---|
| 2024 | $ 308,641 |
| 2025 | (243,548) |
| 2026 | (1,337,455) |
| 2027 | 1,333,121 |
| Total | $ 60,759 |
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