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Quincy Retirement Board This page intentionally left blankREQUEST FOR PROPOSALS INDEPENDENT FINANCIAL AUDIT SERVICES PROPOSALS DUE: 4/18/23 at 2:00 p.m.ISSUE DATE: MARCH 21,2023TABLE OF CONTENTS PAGE 1.

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How to fill out gasb statements no 67

01

Make sure you have all necessary financial data and records available.

02

Carefully review the requirements and guidelines provided by GASB Statement No. 67.

03

Fill out the statement following the specific instructions for each section, including disclosing information about pension plans and related financial activities.

04

Double-check all calculations and figures to ensure accuracy.

05

Have the statement reviewed by a financial expert or auditor before submission.

Who needs gasb statements no 67?

01

Government entities that have pension plans and are required to comply with GASB regulations.

02

Financial professionals and accountants responsible for preparing financial reports for government organizations.

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What is gasb statements no 67?

GASB Statement No. 67 establishes financial reporting standards for pension plans that are administered through trusts, aligning their reporting with the standards for government financial reporting.

Who is required to file gasb statements no 67?

Pension plans that fall under the jurisdiction of the Governmental Accounting Standards Board (GASB) are required to file GASB Statement No. 67.

How to fill out gasb statements no 67?

Filling out GASB Statement No. 67 involves providing specific details on pension liabilities, components of pension expense, and the plan's fiduciary net position and its changes, along with required disclosures in the notes to the financial statements.

What is the purpose of gasb statements no 67?

The purpose of GASB Statement No. 67 is to provide transparency and accountability in the financial reporting of pension plans, ensuring that financial statements provide relevant information for decision-making by stakeholders.

What information must be reported on gasb statements no 67?

GASB Statement No. 67 requires the reporting of net pension liability, pension expense, deferred inflows and outflows of resources, as well as additional information about actuarial assumptions and risks.

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