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Thread: GASB 72 Disclosures

  1. #1
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    GASB 72 Disclosures

    In reviewing CAFR documents from other systems I have noted only single year reporting. Is this only because of the first year/initial implementation? We reached back and included prior year data (2015) in our disclosure as we report 2 years in our other financial data. Will other systems be reporting 2 years going forward?


    Thank you.

    Lyla Friedl, CTP
    Chief Investment Accountant
    Texas County & District Retirement System
    lyla@tcdrs.org
    512/637-3316

  2. #2
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    Hi Lyla,

    We reported 2 years in our GASB 72 disclosures. Our auditors required we include the information for 2015, the prior year.


    Thanks,



    TINA M LAUSIER, CPA, MBA, CGMA | Fiscal Officer
    Retirement Plan Services
    Milwaukee County
    901 N 9th Street, Suite 210 | Milwaukee, WI 53233
    (414) 278-4145 | fax (414) 223-1387

  3. #3
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    Hi Lyla,

    As many may have already responded, it depends if you publish a comparative CAFR if you have to disclose 1 or 2 years of GASB 72 info in the footnotes. We publish a comparative CAFR if you want an example to look at. You can find it on our website at the link below:
    https://www.imrf.org/en/publications...ancial-reports

    Jim

    Jim Splitt
    Financial Analyst
    Illinois Municipal Retirement Fund
    2211 York Rd, Suite 500
    Oak Brook, IL 60523-2337
    (630) 706-4260

  4. #4
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    Lyla, we have already produced our second set of financials under GASB 72 and only disclose 1 year as we dont produce comparative financials. I have included a link to our financials below.

    https://www.calstrs.com/sites/main/f..._2016-17_0.pdf


    Hope this helps.


    Robin Madsen, Chief Financial Officer
    Financial Services
    California State Teachers' Retirement System
    Rmadsen@CalSTRS.com | www.CalSTRS.com
    916-414-4385
    cell: 916-761-5477

  5. #5
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    Hi Lyla:

    We are in year two under GASB 72 and we are just showing one year in our GASB 72 fair value disclosure. We do not have plans to show two years. We should have our FY2017 CAFR completed and published online by the end of the month.

    (By the way yall have a great looking CAFR. Its my first go-to whenever I have an area in ours that Id like to improve)

    Scot Leith


    Scot Leith | Director of Investment Accounting | Teacher Retirement System of Texas

  6. #6
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    Lyla,
    We are also just showing one year in our GASB 72 disclosure since we no longer produce comparative financials.

    Dave DeJonge
    Arizona PSPRS

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