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CITY OF PARIS, TEXAS <br />Notes to Financial Statements (Continued) <br />September 30, 2023 <br />IV. Detailed Notes on All Activities and.Funds (Continued) <br />F. Employee Retirement Systems and Plans (Continued) <br />1. Texas Municipal Retirement System (Continued) <br />Pension ExNense and Deferred Outflows of Resources and Deferred Inflows of Resources ,w Related to <br />Pensions ��.. .......a�.m_.,,,,,. <br />For the year ended September 30, 2023, the City recognized pension expense of $1,098,139. <br />At September 30, 2023, the City reported deferred outflows of resources and deferred inflows of resources <br />related to pensions from the following sources: <br />Difference Between Expected and Actual Economic Experience <br />(Net of Current Year Amortization) <br />Changes in Actuarial Assumptions <br />Differences Between Projected and Actual Investment Earnings <br />(Net of Current Year Amortization) <br />Contributions Subsequent to the Measurement Date <br />Total <br />Deferred Outflows Deferred Inflows <br />of Resources of Resources <br />$ - $ 319,205 <br />4,667,155 - <br />598,874 - <br />$ 5,266,029 $ 319,205 <br />$598,874 reported as deferred outflows of resources, related to pensions resulting from contributions <br />subsequent to the measurement date, will be recognized as a reduction of the net pension liability for the year <br />ending September 30, 2024. Other amounts reported as deferred outflows and inflows of resources related to <br />pensions, will be recognized in pension expense as follows: <br />Fiscal Year Ended September 30, <br />2024 <br />2025 <br />2026 <br />2027 <br />2028 <br />Thereafter <br />54 <br />$ (147,592) <br />1,118,961 <br />1,260,018 <br />2,116,563 <br />4,347,950 <br />