Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Debt Pension topic
No spam. Unsubscribe anytime.
Minidoka District reports nearly $6M in bonds outstanding and $20.9M pension liability
Summary
Financial statements show $5.99 million in outstanding general obligation bonds and a net pension liability of $20,857,441 as of June 30, 2024; the audit notes sensitivity to discount-rate assumptions.
The district reported $5,990,000 in outstanding general obligation bond debt as of June 30, 2024, with $1,725,000 due within one year, according to the financial statements. Capital-asset and debt disclosures are included in the notes accompanying the basic financial statements.
The Statement of Net Position and accompanying pension schedules show a net pension liability of $20,857,441 for the district’s proportionate share of PERSI Base Plan obligations; auditors and notes present sensitivity analysis showing material variation in the liability with a one-percentage-point change in the discount rate. Employer contributions for the year totaled $3,030,576.
