2019 & 2020-COH - DWS Financial Statements and Supplementary Information With Independent Auditor's Report

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County of Hawaii Department of Water Supply (A component unit of the County of Hawaii, State of Hawaii) NOTES TO FINANCIAL STATEMENTS June 30, 2020 and 2019 NOTE G - EMPLOYEE BENEFITS (Continued) For the fiscal years ended June 30, 2020 and 2019, the Department recognized pension expense of $4,855,184 and $5,162,420, respectively. At June 30, 2020 and 2019, the Department reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Differences between expected and actual experience Changes in assumptions Net difference between projected and actual earnings on pension plan investments Changes in proportion and differences between Department contributions and proportionate share of contributions Department contributions subsequent to the measurement date Total Differences between expected and actual experience Changes in assumptions Net difference between projected and actual earnings on pension plan investments Changes in proportion and differences between Department contributions and proportionate share of contributions Department contributions subsequent to the measurement date Total 35 June 30, 2020 Deferred Deferred Outflows of Inflows of Resources Resources $ 560,393 $ (64,104) 2,180,671 -- -- (87,921) 2,442,051 (2,602,620) 2,258,593 -- $ 7,441,708 $ (2,754,645) June 30, 2019 Deferred Deferred Outflows of Inflows of Resources Resources $ 604,656 3,614,219 3,752,674 1,950,328 $ 9,921,877 $ (210,052) (173,185) (868,357) $ (1,251,594)