The Palaima City government provides postemployment health care benets to retirees. Plan members contribute between $65 and
Question:
1. The city first adopted Statement No. 45 for the year beginning January 1, 2011. What is the most likely reason why the plan is only 57 percent funded as of December 31, 2011?
2. What is the nature of the net OPEB obligation and what is the most likely reason that it is zero?
3. Has the city been making the payments to the plan that are required of it per the actuarial computations for the years 2011 and following? How can you tell?
4. Has the fiscal health of the plan been improving or deteriorating in the three years for which data are presented?
5. Assuming that the compensation costs of all covered employers are accounted for in the city’s general fund, what would be the reported general fund expenditure for 2011? What would be the expense reported in the government-wide statement of activities?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
Question Posted: