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CITY OF ROSEVILLE, MINNESOTA <br /> NOTES TO FINANCIAL STATEMENTS <br /> December 31, 2016 <br /> <br /> <br /> <br /> <br />Deferred Deferred <br />Outflows of Inflows of <br />Resources Resources <br />Differences between expected and actual economic experiences -$ 920,127$ <br />Changes in acturial assumptions 2,217,779 - <br />Differences between projected and actual investment earnings 2,149,857 - <br />Changes in proportion 58,107 197,065 <br />Contributions paid to PERA subsequent <br /> to the measurement date 329,670 - <br />4,755,413$ 1,117,192 $ <br /> <br /> D. Pension Costs (Continued) <br /> <br />$329,670 reported as deferred outflows of resources related to pensions resulting from <br />City contributions subsequent to the measurement date will be recognized as a reduction of the <br />net pension liability in the year ended December 31, 2017. Other amounts reported as deferred <br />outflows and deferred inflows of resources related to pensions will be recognized in pension <br />expense as follows: <br /> <br />Year Ended Pension Expense <br />December 31, Amount <br />2017 893,132$ <br />2018 893,125 <br />2019 1,113,159 <br />2020 409,135 <br />2021 - <br />Thereafter - <br />Total 3,308,551$ <br /> <br /> Police and Fire Fund Pension Costs <br /> <br />At December 31, 2016, the City reported a liability of $20,461,329 for its proportionate share <br />of the Police and Fire Fund's net pension liability. The net pension liability was measured as <br />of June 30, 2016, and the total pension liability used to calculate the net pension liability was <br />determined by an actuarial valuation as of that date. The City's proportion of the net pension <br />liability was based on the City's contributions received by PERA during the measurement <br />period for employer payroll paid dates from July 1, 2015, through June 30, 2016, relative to <br />the total employer contributions received from all of PERA's participating employers. At June <br />30, 2016, the City's proportion was 0.5110%, which was an increase of 0.017% from its <br />proportion measured as of June 30, 2015. For the year ended December 31, 2016, the City <br />recognized pension expense of $3,576,951 for its proportionate share of the Police and Fire <br />Fund pension expense. The City also recognized $45,990 for the year ended December 31, <br /> <br />65 <br />Item 8: Attachment D