Blog 2 Columns

The Florida Auditor General has released a draft of their proposed 2014 rules (Chapter 10.850 – Audits of Charter Schools and Similar Entities, Florida Virtual School and Virtual Instruction Program Providers) which will be effective for the 6-30-2014 fiscal year audits. Two...

The Florida Auditor General has released a draft of their proposed 2014 rules (Chapter 10.550 – Local Governmental Entity Audits) which will be effective for the 9-30-2014 fiscal year audits. While there are many changes, the one proposed change that will significantly...

GASBS 68 – Accounting and Financial Reporting for Pensions – an amendment of GASB Statement No. 27 is effective for financial statements beginning after June 15, 2014. Local governments in Florida will be required to implement the provision of GASBS 68 in their...

Here are a few new disclosures required under GASB 67… Regarding investment policies: 1) Procedures and authority for establishing and amending investment policy decisions. 2) Policies pertaining to asset allocation. 3) Description of significant investment policy changes...

GASB Statement No. 67, Financial Reporting for Pension Plans, revises existing guidance for the financial reports of most pension plans for state and local governments. Implementation Toolkit Statement No. 67 will take effect for pension plans in fiscal years beginning after June...

According to the December 5, 2013 GFOA newsletter: The latest Milliman Public Pension Funding Study results indicate that most plans have set their interest rate assumptions and measured their pension liabilities in a realistic, actuarial manner that is consistent with long-term...