The following data were drawn from the required supplementary information section of the Modian School District's annual

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The following data were drawn from the required supplementary information section of the Modian School District's annual report (all dollar amounts in thousands).

The following data were drawn from the required supplementary information

1. What is the amount that the district should report as its net OPEB obligation in its year-end 2017 government-wide financial statements?
2. Based on the data provided, can you tell the amount that the district should report as an expenditure on its governmental fund statement of revenues and expenditures?
3. What other information would you need to determine the amount that it should report as an expense on its government-wide statement of activities?
4. Why is it likely that the government will report "differences between expected and actual experience" in virtually every year but only occasionally (or rarely) report "change in benefit terms"?
5. What impact did the benefit payments of 2017 have on the amount that the district would report as its net OPEB liability?
6. The net OPEB liability increased in 2017 from what it was in 2016. In your opinion, based on the data provided, would you say that, on balance, the fiscal health of the district's OPEB plan improved or deteriorated in 2017? Explain.

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Government and Not for Profit Accounting Concepts and Practices

ISBN: 978-1118983270

7th edition

Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith

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