PERAC Memo #7 - 2006: Calendar Year 2005 Annual Statements

Calendar Year 2005 Annual Statements

Summary

This memo announces the 2005 Annual Statement package, now distributed primarily via CD (containing the Annual Statement, sample, preparation guide, and an "Updates and Changes" document), with printed copies available on request; PERAC auditors are available for assistance and training sessions will be offered in March. Boards must complete, sign, and return the Annual Statement to PERAC by May 1, 2006, and must submit their pre-closing December 2005 cashbook and trial balance to PERAC before February 28, 2006.

Full Text

Memorandum # 7/2006
M E M O R A N D U M TO: All Retirement Boards FROM: Kevin P. Blanchette, Deputy Executive Director of Operations RE: Calendar Year 2005 Annual Statements

DATE: January 20, 2006

Once again, it is time for the preparation of the Annual Statement, which must be completed, signed, and returned to the Public Employee Retirement Administration Commission (PERAC) by May 1, 2006. One of our Auditors will be assigned to work with you to provide technical assistance as needed.

This year, we are changing our method of distributing the 2005 Annual Statement publications. Printed copies of all of these documents will still be available upon request. However, from this point forward, the primary means of delivery will be CD.

The attached CD contains the 2005 Annual Statement, a Sample Annual Statement, and the guide, Preparing the Annual Statement in PDF. Also included on the CD is another new feature, the document Updates and Changes. This piece highlights all of the adjustments and improvements the PERAC Audit Unit has made to the 2005 Annual Statement. Even if you are already familiar with the Annual Statement process, this document will be an important resource.

As in the past, we have been invited to make a presentation about completing the Annual Statement during the N.E. Secretaries’ Meeting at the Stoneham Town Hall on March 14, 2006.
We will focus on problem areas we identified while reviewing the 2004 Annual Statements, changes and updates in the 2005 Annual Statements, and any questions you might have. We will also hold classes in March for retirement board administrators on these topics at convenient regional locations. Registration forms for these sessions will be mailed soon under separate cover.

Please submit your pre-closing cashbook and trial balance for December 2005 to PERAC prior to February 28, 2006. If you encounter difficulties with this deadline, please contact me directly.

Thank you for your cooperation in this year-end closing process.