Sarasota County Comprehensive Annual Financial Report 2019

Sarasota County, Florida Notes to Financial Statements September 30, 2019 Sensitivity of the total Net OPEB liability to changes in the discount rate The following presents the Net OPEB Liability of the County, as well as what the County’s Net OPEB Liability would be if it were calculated using a discount rate that is one percentage-point lower or one percentage-point higher than the current discount rate. Discount Rate 1% Decrease Baseline 7.43% 1% Increase Total OPEB liability/(Asset) $ (2,658,108) $ (2,907,085) $ (3,136,588) Sensitivity of the total Net OPEB liability to changes in the healthcare cost trend rates The following presents the Net OPEB Liability of the County, as well as what the County’s Net OPEB Liability would be if it were calculated using healthcare cost trend rates that are one percentage-point lower or one percentage-point higher that the current healthcare cost trend rates. Healthcare Cost Trend Rate 1% Decrease Current Trend Rate 1% Increase Total OPEB Liability/(Asset) $ (3,180,069) $ (2,907,085) $ (2,601,397) OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB For the year ended September 30, 2019, the County recognized an OPEB expense of $ ( 3,843,446 ) . At September 30, 2019, the County reported deferred outflows of resources related to OPEB from the following sources: Amounts reported as deferred outflows of resources and deferred (inflows) of resources related to OPEB will be recognized in OPEB expense as follows: For the Year Ending September 30, 2020 $ 307,251 2021 307,253 2022 (116,063) 2023 (130,608) 2024 (154,485) Thereafter (1,875,404) Total $ (1,662,056) Deferred Outflows Deferred Inflows Description of Resources of Resources Difference between actual and expected experience 907,171 $ 3,544,972 $ Change in assumptions 899,162 909,190 Net difference between projected and actual earnings on OPEB plan investments 985,773 - Total 2,792,106 $ 4,454,162 $ 137