Distrito Escolar del - Osceola County School District

Annual OPEB Cost and Net OPEB Obligation. The District’s annual OPEB cost (expense) is calculated
based on the annual required contribution (ARC), an amount actuarially determined in accordance with
parameters of Governmental Accounting Standards Board Statement No. 45, Accounting and Financial
Reporting by Employers for Postemployment Benefits Other Than Pensions. The ARC represents a level of funding that
if paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial
liabilities over a period not to exceed 30 years. The following table shows the District’s annual OPEB cost
for the year, the amount actually contributed to the Plan, and changes in the District’s net OPEB obligation:
Description
Amount
Normal Cost (service cost for one year) $ 4,954,222
Amortization of Unfunded Actuarial
Accrued Liability 1,982,393
Interest on Normal Cost and Amortization 277,465
Annual Required Contribution 7,214,080
Interest on Net OPEB Obligation 1,091,195
Adjustment to Annual Required Contribution (813,880)
Annual OPEB Cost (Expense) 7,491,394
Contribution Toward the OPEB Cost (2,188,105)
Increase in Net OPEB Obligation 5,303,289
Net OPEB Obligation, Beginning of Year 27,279,863
Net OPEB Obligation, End of Year $ 32,583,152
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