Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Notes to Financial Statements September 30, 2020 Aggregate OPEB expense and Deferred Outflows of Resources and Deferred Inflows of Resources related to OPEB For the year ended September 30, 2020, the County will recognize OPEB expense/ (credit) of $139,230. The Sheriff Plan will recognize OPEB expense of $886,418. Table below shows OPEB expense and sources of deferred outflows and deferred inflows of resources related to each plan. Sarasota County Sheriff Total Plans Deferred Outflow of Resources: Difference between actual and expected experience $ 755,976 $ - $ 755,976 Change in actuarial assumptions 833,332 - 833,332 Net difference between projected and actual earnings on OPEB plan investments 591,661 - 591,661 Changes in assumptions and other inputs - 693,518 693,518 Total $ 2,180,969 $ 693,518 $ 2,874,487 Deferred Inflows of Resources: Difference between actual and expected experience $ 3,184,799 $ - $ 3,184,799 Change in actuarial assumptions 813,823 - 813,823 Changes in assumptions and other inputs - 209,335 209,335 $ 3,998,622 $ 209,335 $ 4,207,957 Sarasota County’s 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, 2021 $ 338,164 2022 (85,152) 2023 (99,697) 2024 (123,574) 2025 (140,477) Thereafter (1,706,917) Total $ (1,817,653) Sheriff’s 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, 2021 $ 58,134 2022 58,134 2023 58,134 2024 58,134 2025 58,134 Thereafter 193,513 Total $ 484,183 141