PERAC Memo #3 - 2000: Calendar Year 1999 Annual Statements

Calendar Year 1999 Annual Statements

Summary

This memo transmits the Calendar Year 1999 Annual Statement forms, which boards must complete, sign, and return to PERAC by May 1, 2000; a PERAC auditor will contact each board to assist. Boards must also submit their pre-closing cashbook and trial balance for December 1999 by February 28, 2000, and should note that individually owned fixed income securities are now valued at market value (rather than amortized value) as of December 31, 1999, per Memo #46/1999.

Full Text

PERAC MEMO #3/2000 M E M O R A N D U M TO: All Retirement Boards FROM: James Waldman, Director of Finance RE: Calendar Year 1999 Annual Statements DATE: January 6, 2000 Enclosed are the Annual Statements forms for 1999. These forms must be completed, signed and returned to the Public Employee Retirement Administration Commission by May l, 2000. Once again, a PERAC auditor will be assigned to work with you and provide any technical assistance that is needed. The auditor that is assigned to you will be contacting you within the next two weeks. The major change to this year’s annual statement is that individually owned fixed income securities will be valued at market value on December 31, 1999 rather than at amortized value. Please refer to PERAC memorandum #46/1999 for details regarding this change. The instructions for the annual statement will be distributed at the training sessions. If you will not be attending these sessions, please contact Katie at extension 974 and she will mail you these materials. We are also requesting that you submit your pre-closing cashbook and trial balance for December 1999 prior to February 28, 2000. If you encounter difficulties with this deadline, please contact me. I would like to thank you for your cooperation in this year- end closing process. /jtw Enc.