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PENINSULA AIRPORT COMMISSION
NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2025
37
Note 9—Other postemployment benefits, healthcare (continued)
Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates – The following presents
the total OPEB liability of the Commission, as well as what the Commission’s total OPEB liability would be if it
were calculated using healthcare cost trend rates that are one percentage point lower or one percentage point
higher than the current healthcare cost trend rates:
Current
Trend Minus
Healthcare
Trend Plus
1%
Cost Trend %
1%
OPEB liability
2,832,775
$
3,299,476
$
3,880,123
$
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB – For
the year ended June 30, 2025, the Commission recognized OPEB benefit of $1,044,317. At June 30, 2025, the
Commission reported deferred outflows of resources and deferred inflows of resources related to OPEB from the
following sources:
Deferred
Deferred
Outflows of
Inflows of
Resources
Resources
Change of assumptions
197,919
$
871,691
$
Differences between expected and actual experience
52,956
1,038,322
Employer contributions subsequent to the measurement date
69,720
-
Total as of June 30, 2025
320,595
$
1,910,013
$
The $69,720 reported deferred outflows of resources related to OPEB resulting from the Commission’s
contributions subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in
the year ended June 30, 2026. Other amounts reported as deferred outflows of resources and deferred inflows of
resources related to OPEB will be recognized in OPEB expense as follows:
Years Ending June 30,
2025
(536,395)
$
2026
(649,274)
2027
(177,371)
2028
(226,378)
(1,589,418)
$
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