athens tn acfr fy2025

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CITY OF ATHENS, TENNESSEE
NOTES TO FINANCIAL STATEMENTS
JUNE 30, 2025
A - 61
NOTE 9 – EMPLOYEE RETIREMENT PLANS (Continued)
Primary Government (excluding employees of the Board of Education) (Continued)
Employee Retirement Plan (Continued)
Additional Defined Benefit Plan disclosures for the City of Athens. The Defined Benefit Plan 
disclosures represent required disclosures for plans under GASB No. 67, Financial Reporting for 
Pension Plans. Certain of these disclosures also pertain to the employer. GASB No. 68,
Accounting and Financial Reporting for Pensions, requires additional employer disclosures not 
covered elsewhere as follows: 
Additional City disclosures are made as of the measurement date, June 30, 2025, elected by the 
City under GASB No. 68.
Changes in the City’s Net Pension Liability (Asset)
Increase (Decrease)
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability (Asset)
(a) (b) (a) – (b)
Balances at 6/30/2024 $19,112,263 $17,544,090 $ 1,568,173
Changes for the year:
Service cost 73,236 - 73,236
Interest expense 1,252,549 - 1,252,549
Differences between expected 
and actual experience 402,422 - 402,422
Changes of assumptions (73,156) - (73,156)
Contributions – employer - 1,250,000 (1,250,000)
Contributions – employees - - -
Net investment income - 1,781,066 (1,781,066)
Benefits payments, including
refunds of employee contributions (1,279,339) (1,279,339) -
Administrative expenses - (43,183) 43,183
Net changes 375,712 1,708,544 (1,332,832 )
Balances at 6/30/2025 $19,487,975 $19,252,634 $ 235,341
The City recognized pension expense as follows under the City’s defined benefit plan:
Governmental
Activities Sanitation Total
Pension expense $ 588,195 $ 22,599 $ 610,794
For the measurement period ended June 30, 2025, the City reported deferred outflows of 
resources and deferred inflows of resources related to pensions of the following sources:
(Continued)