Reference no: EM133253238

Lakeland has a pension plan for city employees. In FY 2023, the actuarially-determined amount that Lakeland should deposit into its pension plan was $395,200, but cash was tight and Lakeland deposited only $250,000 into the pension fund, saying it will make up the difference in an unspecified, future year when revenues are more abundant (which is why several U.S. cities and counties file bankruptcy--- "later" never arrives). What is the amount of pension expenditure that Lakeland should recognize in its General Fund financial statements for FY 2023?

Group of answer choices

a. The amount actually deposited.

b. The actuarially-determined requirements, even if less was deposited.

c. The lesser of the actuarially-determined requirement or the amount actually deposited.

d. The greater of the actuarially-determined requirement or the amount actually deposited.