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GASB 43/45 The Governmental Accounting Standards Board (GASB) introduced two accounting standards related to other post employment benefits.
GASB 43
GASB 43 established uniform financial reporting standards for other post employment benefit plans, creating a framework for OPEB Trust reporting. The Wisconsin OPEB Trust falls under these reporting requirements. Districts who ‘go-it-alone’ in establishing an OPEB Trust should also comply with these reporting recommendations.
>Read GASB 43 Summary
GASB 45
According to the Governmental Accounting Standards Board, Statement 45 was designed to shed light on costs and financial obligations related to post employment benefits other than pensions. Rather than incurring costs after employees retire, GASB 45 requires public sector agencies to report obligations as they are incurred. This additional information can better position governmental bodies to prepare for and address future costs being incurred now.
>Download GASB 45 Q & A
Other Post Employment Benefits: GASB Statements No. 43 and 45 Reporting Guidelines For Government Financial Statements
This Civic Federation Issue Brief provides an overview of OPEB reporting guidelines as well as a summary of GASB statements 43 and 45.
>Download PDF
Governmental Accounting Standards Board Other Postemployment Benefits: A Plain-Language Summary of GASB Statements No. 43 and No. 45
This summary, prepared by the Governmental Accounting Standards Board (GASB), provides a thorough review of Statements 43 and 45 in a question and answer format. The table of contents can be used as a quick reference to navigate specific topics.
>Download PDF
Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions
In this National Public Radio (NPR) report listen to GASB Chairman Robert Attmore discuss Statement 45.
>Link to Audio File
Why Governmental Accounting and Financial Reporting Is—and Should Be—Different
This white paper published by the Governmental Accounting Standards Board (GASB) “Identifies Key Differences between Financial Reporting for Governments and For-Profit Business Entities.” Through the link provided, this white paper may be downloaded in its entirety or by individual sections most relevant to you.
>Link to White Paper
FACTS about GASB
This document provides a brief overview of the inner workings of the Governmental Accounting Standards Board (GASB) with information on GASB communications, board member information and staff bios.
>Download PDF
The Elephant in the Room: Unfunded Public Employee Health Care Benefits and GASB 45
Part 3 in the Pioneer Institute’s Public Employee Benefits Series, this white paper discusses the GASB Statement 45 and its potential impact on governments.
>Download PDF
Fund 73
Essentials of Fund 73
This presentation from the 2009 WASBO Accounting Seminar provides an overview of the essentials of Fund 73. Presenter Kathy Guralski, School Finance Auditor for the Wisconsin Department of Instruction, discusses the eligibility requirements as well as provides example contributions.
>Download Powerpoint
Fund 73 Frequently Asked Questions
In this document the Wisconsin Department of Public Instructions answers eight of the most frequently asked questions about employee benefit trusts for Wisconsin schools.
>Download Word Document
Employee Benefit Fund (Fund 73) Requirements
Kathy Guralski, School Finance Auditor, issued this memo regarding the Department of Public Instruction (DPI) requirements for establishing a benefit trust for post-employment benefits.
>Download Word Document
Worksheet to Determine Aid Eligibility of Fund 73 Contribution 2009-2010
Provided by the Department of Public Instruction (DPI), this worksheet aids in calculating if your contribution meets eligibility for state categorical aid.
>Download Excel Document
HRA
Health Reimbursement Arrangements: Accounting for an HRA Plan For DPI Purposes
This presentation outlines general information on Health Reimbursement Arrangements for Wisconsin School Districts.
>Download Powerpoint
Employee Benefit Trust Fund
Employee Benefit Trust Fund
This web link provides information directly from the Wisconsin Department of Public Instruction (DPI) about employee benefit trust funds.
>Link to the DPI Employee Benefit Trust Fund Page
OPEB Articles
Factors to Consider When Establishing an Employee Benefit Trust
Provided by the Department of Public Instruction, this document may assist districts in weighing the post employee benefits “pay as you go” option against the method of establishing a trust.
>Download Word Document
New Staff Guidance on Qualifying OPEB Plan Trusts and Fiduciary Responsibilities
This brief document discusses the functions of an OPEB plan for reporting and Statements 43 and 45 compliance purposes.
>Download PDF
Coming to Grips with Other Post-Employment Benefits
In an excerpt from the August 2006 Government Finance Review, Jeffrey l. Esser addresses the issues raised by OPEB and covers some of the common misconceptions.
>Download PDF
Dispelling OPEB “Urban Legends”
In an excerpt from the June 2006 Government Finance Review, Stephen J. Gauthier highlights five important facts about GASB Statement 45.
>Download PDF
Trains on a Collision Course: The Local Government Employee and Their Retirement Health Care Benefits (.pdf)
By Joshua Franzel, Ph.D., Center for State and Local Government Excellence
Presented at the 2008 American Society for Public Administration Annual Conference, this paper discusses post-employment healthcare for government retirees. By utilizing findings from recent surveys as well as demographic trends, Joshua Franzel, Ph.D. provides perspective on retirement healthcare benefits.
>Download PDF
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