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27
MAR
2014

GASB 67 & 68 Implementation Toolkit

Posted By : Mike Brynjulfson
Comments : 0
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 15, 2013 (that is, for years ended June 30, 2014 or later). GASB Statement No. 68, Accounting and Financial Reporting for Pensions,...
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05
DEC
2013

According to the GFOA, an expected rate of return of 7.75% is in line with market consensus.

Posted By : Mike Brynjulfson
Comments : 0
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 market return expectations. Overall, funded ratios are down slightly, by 2.6%. In addition, 29 of the 100 plans in the study have...
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05
DEC
2013

FDOT Reimbursement Rate Audit – 2013 changes

Posted By : Mike Brynjulfson
Comments : 0
Effective with the 2013 reimbursement rate audits, the Florida Department of of Transportation will reimburse the costs of permits as a separate direct cost rather than through the direct expense percentage submitted annually as part of the reimbursement rate audit. See the attached letter to FDOT consultants for more information: FDOT 2013 Notice to Consultants  
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04
NOV
2013

“Availability” and Governmental Fund Revenue

Posted By : Mike Brynjulfson
Comments : 0
  According to GASB codification Section 1600.106, the following excerpt attempts to explain the “availability” concept. Revenue Recognition .106 Revenues and other governmental fund financial resource increments (for example, bond issue proceeds) are recognized in the accounting period in which they become susceptible to accrual—that is, when they become both measurable and availableto finance...
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  • CalPERS' FUNDING RISK-MITIGATION POLICY to provide less volatility in contribution rates for employers. #gfoa https://t.co/1PKD3njOmX over a year ago
  • Accounting for Capital Assets from the #GFOA https://t.co/Xr7l1g5HNY over a year ago
  • RT @GFOA: Announcing first-time #CAFR award winners! https://t.co/Zqzedt2POM #gfoa #gfoaawards #budget #finance #localgov https://t.co/hqz7… over a year ago
  • Price tag for Kentucky’s ailing pensions could hit $5.4 billion over next two years https://t.co/EIrzeCuFg7 over a year ago
  • Americans Don’t Grasp The Magnitude Of The Looming Pension Tsunami That May Hit Us Within 10 Years https://t.co/Z2kVLg7LMw over a year ago

RSS Florida Institute of CPAs

RSS American Institute of CPA

RSS Gov. Accounting Standards Board

  • CalPERS' FUNDING RISK-MITIGATION POLICY to provide less volatility in contribution rates for employers. #gfoa https://t.co/1PKD3njOmX over a year ago
  • Accounting for Capital Assets from the #GFOA https://t.co/Xr7l1g5HNY over a year ago
  • RT @GFOA: Announcing first-time #CAFR award winners! https://t.co/Zqzedt2POM #gfoa #gfoaawards #budget #finance #localgov https://t.co/hqz7… over a year ago
  • Price tag for Kentucky’s ailing pensions could hit $5.4 billion over next two years https://t.co/EIrzeCuFg7 over a year ago
  • Americans Don’t Grasp The Magnitude Of The Looming Pension Tsunami That May Hit Us Within 10 Years https://t.co/Z2kVLg7LMw over a year ago

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