At December 31, 2020, a city had $8 million in its General Fund that the...
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Accounting
At December 31, 2020, a city had $8 million in its General Fund that the city council had assigned to pay for OPEB retiree healthcare benefits. Its total OPEB liability at that time was $12 million. For the year ended December 31, 2020, it had paid $1 million in retiree healthcare costs. The city's salaries for the year were $20 million. What was the city's funded ratio? Select one: A. 75% B. 150% C. 0% D. 67%
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