GASB Reports are now available - please open attachment below.
The report is for 2017. There are 3 major components of the report:
1. Schedule of Employer Allocations: This schedule lists each law enforcement agency, their number of members, and the allocation percentage. Some local governments will have more than one law enforcement agency.
2. Schedule of Pension Amounts by Employer: For each law enforcement agency, this schedule lists the total pension expense that should be included on the applicable government’s financial statements. An offsetting revenue should also be recorded. In addition, the net pension asset that would be disclosed in the notes to the government’s financial statements is shown.
3. Notes to the Schedules: Other information that the local governments would need for their note disclosures are included here.
Please note that these are draft schedules. We have not completed testing of the employer allocations. While we do not expect any significant changes, that possibility does exist. Therefore, there is no auditor’s opinion included with the drafts.