News archive

GASB 45 for school attorneys
This article by CSBA program consultant Martin Tokunaga, provides on overview of GASB 45 as it pertains to school attorneys. Specifically, the article talks about the GASB 45 requirements, common misconceptions about GASB 45, the impacts on collective bargaining, credit rating issues, bond disclosure requirements, action steps for school attorneys and how CSBA can assist.

view all details

Other Postemployment Benefits: A Plain-Language Summary of GASB Statements No. 43 and No. 45
Please note: This document, prepared by the Governmental Accounting Standards Board staff, has not been reviewed or approved by the GASB board and is not an authoritative document in the hierarchy of generally accepted accounting principles.

view all details

GASB 45 statement on OPEB accounting by governments: Basic questions and answers.
This question and answer sheet prepared by the Governmental Accounting Standards Board, provides basic information about OPED accounting by governments, OPEB accounting and financial reporting, what Statement No. 45 accomplishes and basic misconceptions.

view all details

Other Postemployee Benefits (OPEB)
Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions

view all details

Latest News regarding GASB 45 Keeping you up to date on news regarding OPEB

At GASB45AMM we attempt to keep you apprised of the issues going on around the country related to other post-employment benefits (OPEB). With many municipalities and other government

News

Muncipal Bankruptcy Non-Option
Posted by John Bury - March 01, 2009 1:32PM
"Most elected local officials, hand-picked by the political establishment invested in maintaining the tax-churning machine, have no stomach for cutting spending. They've gone as far as they can with the debts they've piled on, most especially pension and OPEB benefits that they've elected not to pre-fund. The game playing is over. It's to pay up."
 
Living With GASB 45: How to Manage Liabilities Associated With Retiree Medical Benefits
This article was published by the International Society of Certified Employee Benefits Specialists in Benefits Quarterly, First Quarter. The Governmental Accounting Standards Board (GASB) Statement 45 (GASB) obliges public employers to disclose liabilities related to postretirement medical benefits. Most state and local government entities are beginning to analyze and quantify how GASB 45 liabilities will affect their balance sheets and credit ratings. This article describes the many ways to reduce those liabilities without eliminating retiree medical plan benefits altogether. Now is the time for employees and employers to work together and make difficult choices for keeping retiree medical costs and GASB 45 liabilities manageable. Posted with permission.
 
Effect of New GASB 45 Accounting Rules: What We Can Learn From FAS 106
This article was published by the International Foundation of Employee Benefit Plans in Benefits & Compensation Digest, March 2007. Public employers that face the new Governmental Accounting Standards Board (GASB) Statement 45 accounting rules in 2007 can learn some valuable lessons from the private secotr firms that encountered similar accounting changes under 1993’s Financial Accounting Standard (FAS) 106.
 
Small But Not Simple: Solving Small Employers’ GASB 45 Puzzle
This article was published by the International Foundation of Employee Benefit Plans in Benefits & Compensation Digest, September 2008. Governmental Accounting Standards Board (GASB) Statement 45, better known as GASB 45, has already placed requirements on large government entities. Now smaller public agencies are faced with compliance – in 2008-09 for government offices with annual revenues of $10 million to $100 million and in 2009-10 for offices with annual revenues of less than $10 million. Yet most business managers of small municipalities, utilities, school districts and other governmental entities are only beginning to learn what GASB 45 is all about and how it will affect them. This article strives to fill that information gap.