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Schedule of Changes in the City's OPEB Liability and Related Ratios
<br />2024 2023 2022 2021 2020 2019 2018
<br />Total OPEB Liability
<br />Service Costs 123,700 158,965 118,604 101,611 87,721 90,925 82,950
<br />Interest Costs 51,779 28,284 24,704 27,156 38,684 31,294 30,294
<br />Assumption Changes (56,994)(198,518)(344,599)53,610 114,403 (49,156)23,193
<br />Differences between expected and actual experience (331,212)141 405,645 (413)(179,406)--
<br />Benefit Payment (42,109)(54,022)(20,145)(29,318)(30,694)(36,813)(35,472)
<br />Net Change in Total OPEB Liability (254,836) (65,150) 184,209 152,646 30,708 36,250 100,965
<br />Total OPEB Liability - Beginning 1,175,850 1,241,000 1,056,791 904,145 873,437 837,187 736,222
<br />Total OPEB Liability - Ending 921,014$ 1,175,850$ 1,241,000$ 1,056,791$ 904,145$ 873,437$ 837,187$
<br />Covered - Employee Payroll 6,600,000$ 6,100,000$ 4,900,000$ 4,400,000$ 4,200,000$ 4,000,000$ 3,900,000$
<br />City's total OPEB liability as a percentage of
<br />covered employee payroll 13.95 %19.28 %25.33 %24.02 %21.53 %21.84 %21.47 %
<br />Changes in assumptions:
<br />Changes in Plan Provisions:
<br />Changes in benefits:
<br />Note - Schedules is intended to show 10-year trend. Additional years will be reported when they become available.
<br />Note - there are no assets accumulated in a trust
<br />City of Orono
<br />Required Supplmentary Information (Continued)
<br />For the Year Ended Decemeber 31, 2024
<br />$ $ $ $ $ $ $
<br />92 119
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