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Deferred Outflows/Inflows of Resources
In addition to assets, the statement of net position will sometimes report a separate section for deferred outflows of resources. This separate section, Deferred Outflows of Resources, represents a consumption of net position that applies to future period and so will not be recognized as an expense until then. The District has three types of items that meet this criterion- those related to the loss on refunding which is the difference between reacquisition price and the net carrying amount of old debt, those related to OPEB as further discussed in Note 20 and those related to pension plans which are further discussed in Note 18, State Retirement Programs and Note 19, Early Retirement Program.
In addition to liabilities, the statement of net position reports a separate section for deferred inflows of resources. This separate section Deferred Inflows of Resources, represents an acquisition of net position that applies to a future period and so will not be recognized as an inflow of resources (revenue) until that time. The District has two types of items that meet the criterion – those related to pension plans which are further discussed in Note 18, State Retirement Programs and those related to OPEB as further discussed in Note 20.