May 12, 2008
Redding
Seminar addresses issue of post-employment benefits
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Do you know how and why municipalities must soon account for post-employment benefits, like health care? Karl Johnson, an expert on this topic, will provide answers to elected officials and financial staff, and others who are interested, at a free informational session on Thursday, May 15, at the Ethan Allen Hotel in Danbury. The meeting will start at 7 p.m., after coffee and dessert at 6:30.
Karl Johnson is a project manager with GASB, the Governmental Accounting Standards Board. The session is co-sponsored by NABR (Nonpartisan Action for A Better Redding) and the Yankee Institute for Public Policy Studies.
Registration for the free session is required, and may be done at www.betterredding.org/session, which also provides driving directions and a map.
Improved Financial Information about Post-employment Healthcare Benefits: Basics of GASB Statement 45 is the formal name of the evening’s topic.
This program will include an overview-level presentation by Mr. Johnson, who was the project manager for Statement 45. The presentation will focus on basic OPEB accounting concepts and objectives, new information required by Statement 45 (where it comes from, how it will be reported, and what it will tell report users, including municipal officials), and identification of potential implementation planning tasks. Time will also be provided for questions and answers.
Mr. Johnson works primarily in the area of accounting and financial reporting for pension and other post-employment benefits (OPEB). He was also the project manager for GASB Statements 43 and continues to answer technical inquiries related to the implementation of the standards. He recently completed a research project to develop information helpful to the board in assessing the effectiveness of GASB Statements 25 and 27 in achieving their financial reporting objectives.
As of the time of the presentation, he anticipates being engaged in a follow-up project to consider whether and how current standards might be amended to further enhance the transparency and decision-usefulness of reported information in the area of post-employment benefits.
© Copyright 2008 by Hersam Acorn Newspapers
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