Question - OPEB and Claims and Judgments-New York City

The City of New York, New York, reported the following liabilities, among others, at June 30 of the years indicated. The amounts in the table are stated in thousands of dollars.

Year

Liability for 20X2 20X3 Scheduled Reduction by June 30, 20X4

Judgments and claims $ 4,810,471 $ 5,018,908 $ 1,360,426

Vacation and sick leave $ 2,593,691 2,840,213 247,937

Pensions 806,200 764,000 -

Other postemployment benefits (OPEB) 50,000,000 53,507,451 1,400,000

None of these liabilities were due and payable at the indicated dates. The amounts the city paid during the 20X2-20X3 fiscal year for each of these categories are presented in the following table.

20X2-20X3 Payments for 

Judgments and claims $ 516,801

Vacation and sick leave 247,937

Pensions 4,015,000

Other postemployment benefits (OPEB) 2,182,871

Required

a. Calculate the amount of General Fund expenditures that the City of New York must report for the fiscal year ended June 30, 20X3, assuming that all the amounts shown relate to General Fund departments and activities, for:

1. Judgments and claims

2. Vacation and sick leave

3. Pensions

4. OPEB

b. How would your answers differ if 10% of each of the liability balances presented in the first schedule were due and payable at the end of 20X2 and the end of 20X3, respectively?