Agenda

Discount Rate

Mortality rates were updated to be based on the Pub-2010 Healthy Retiree Mortality Tables
with credibility adjustments for each group (police and fire combined) and projected fully
generational mortality improvements using Scale MP-2019.

For the year ended June 30, 2021, the City recognized pension expense of $47,883,163. In
addition, the City reported deferred outflows of resources and deferred (inflows) of
resources related to pensions from the following sources:

Deferred Deferred
Outflows of (Inflows) of
Resources Resources

Differences between expected and actual experience $ 8,641,616 $ (3,435,910)

used in the calculation will change depending on age and years of creditable service, as
follows:

Years of creditable service as of Minimum Minimum Benefit
January 1, 2012 Age Service Multiplier
At least 3 but less than 10 years 46 21 2.4%
At least 6 but less than 8 years 47 22 2.3%
At least 4 but less than 6 years 48 23 2.2%
Less than 4 years 49 24 2.1%
Contributions

19.

Retirement System

New Hampshire Retirement System

The City follows the provisions of GASB Statement No. 68, Accounting and Financial
Reporting for Pensions — an amendment of GASB Statement No. 27, with respect to the
State of New Hampshire Retirement System (NHRS).

The following pension disclosures for the New Hampshire Retirement System pension plan
are based upon an actuarial valuation performed as of June 30, 2019, using a measurement
date of June 30, 2020.

Plan Description

Following is a breakdown of the City’s fund balances at June 30, 2021:

Committed

18.

Unavailable revenues are reported in the governmental funds balance sheet in connection
with receivables for which revenues are not considered available to liquidate liabilities of
the current year.

Taxes levied in advance are reported in the governmental funds balance sheet and
government-wide statement of net position in connection with subsequent year property tax
revenue collections which are not available for use in the current year.

16.

17.

Landfill Closure and Postclosure Care Costs

Changes in General Long-Term Liabilities
During the year ended June 30, 2021, the following changes occurred in long-term
liabilities (in thousands):