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113 <br /> The County funds its OPEB healthcare benefits on a pay as you go basis as part of the annual budget <br /> process.The County paid$4,064,731 in OPEB benefits in fiscal year 2024,and has budgeted approximately <br /> $ for benefit payments in fiscal year 2025. <br /> In addition to these annual payments, the County has reserved approximately $8.2 million of <br /> committed fund balance toward its OPEB obligations. The County has also established an irrevocable trust <br /> for OPEB benefits that contains approximately$397,710. <br /> The following table presents additional information on the County's OPEB liabilities. <br /> Measurement Net OPEB NOL as % of <br /> Date Liability(NOL) Covered Payroll <br /> June 30, 2024 $118,859,926 228.0% <br /> June 30, 2023 $120,541,187 231.2 <br /> June 30, 2022 132,374,775 238.2 <br /> June 30,2021 161,449,960 290.5 <br /> GASB 74 requires the presentation of the Net OPEB Liability ("NOL") effective as of June 30, <br /> 2017. The GASB 74 required NOL actuary methodology and assumptions results in a higher liability than <br /> the unfunded actuarial accrued liability("UAAL"). <br /> CONTINGENT LIABILITIES <br /> The County is not aware of any contingent liabilities that it expects would materially adversely affect its <br /> ability to meet its financial obligations. <br /> 42 <br />