athens tn acfr fy2025
City of Athens · annual comprehensive financial report · 197 pages · Descriptive metadata inferred from filename
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2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 Total pension liability Service cost 73,236$ 69,114$ 69,248$ 93,524$ 102,772$ 110,220$ 130,864$ 134,000$ 181,239$ 202,251$ Interest 1,252,549 1,234,135 1,216,641 1,201,915 1,197,490 1,145,821 1,135,933 1,136,290 1,142,721 1,086,325 Changes of benefit terms - - - 428,562 - - - - - - Differences between expected and actual 402,422 (280,295) 278,126 (259,104) 27,264 (59,268) 16,627 (249,085) (460,714) 327,458 experience Changes of assumptions (73,156) 549,157 - - (124,741) 1,304,306 - - - - Benefit payments, including refund of member (1,279,339) (1,326,757) (1,283,389) (1,163,472) (1,093,628) (1,148,642) (1,095,290) (953,466) (863,801) (717,399) contributions Other changes - - - - - - - - - - Net change in total pension liability 375,712 245,354 280,626 301,425 109,157 1,352,437 188,134 67,739 (555) 898,635 Total pension liability - beginning 19,112,263 18,866,909 18,586,283 18,284,858 18,175,701 16,823,264 16,635,130 16,567,391 16,567,946 15,669,311 Total pension liability - ending (a) 19,487,975$ 19,112,263$ 18,866,909$ 18,586,283$ 18,284,858$ 18,175,701$ 16,823,264$ 16,635,130$ 16,567,391$ 16,567,946$ Plan fiduciary net position Contributions - employer 1,250,000$ 600,000$ 600,000$ 600,000$ 610,000$ 640,000$ 600,000$ 600,000$ 650,000$ 1,300,000$ Contributions - member - - - - - - - - - - Net investment income 1,781,066 1,491,416 1,286,969 (2,354,156) 3,073,148 638,288 914,882 1,320,179 1,737,667 (116,640) Benefit payments, including refund of member (1,279,339) (1,326,757) (1,283,389) (1,163,472) (1,093,628) (1,148,642) (1,095,290) (953,466) (863,801) (717,399) contributions Administrative expense (43,183) (44,739) (41,787) (41,500) (26,062) (73,971) - (64,193) (55,593) (55,550) Net change in plan fiduciary net position 1,708,544 719,920 561,793 (2,959,128) 2,563,458 55,675 419,592 902,520 1,468,273 410,411 Plan fiduciary net position - beginning 17,544,090 16,824,170 16,262,377 19,221,505 16,658,047 16,602,372 16,182,780 15,280,260 13,811,987 13,401,576 Plan fiduciary net position - ending (b) 19,252,634$ 17,544,090$ 16,824,170$ 16,262,377$ 19,221,505$ 16,658,047$ 16,602,372$ 16,182,780$ 15,280,260$ 13,811,987$ Net pension (asset) liability - ending (a) - (b) 235,341$ 1,568,173$ 2,042,739$ 2,323,906$ (936,647)$ 1,517,654$ 220,892$ 452,350$ 1,287,131$ 2,755,959$ Plan fiduciary net position as a percentage of the total pension liability 98.79% 91.79% 89.17% 87.50% 105.12% 91.65% 98.69% 97.28% 92.23% 83.37% Covered employee payroll 1,568,191$ 1,393,032$ 1,319,571$ 1,475,902$ 1,788,153$ 1,826,067$ 2,097,532$ 2,217,599$ 2,445,296$ 3,067,660$ Net pension liability as a percentage of covered employee payroll 15.01% 112.57% 154.80% 157.46% -52.38% 83.11% 10.53% 20.40% 52.64% 89.84% CITY OF ATHENS, TENNESSEE LAST 10 FISCAL YEARS ENDING JUNE 30 EMPLOYEE RETIREMENT PLAN SCHEDULE OF CHANGES IN THE CITY'S NET PENSION LIABILITY (ASSET) AND REALTED RATIOS REQUIRED SUPPLEMENTARY INFORMATION See independent auditor's report. B - 1