WebGASB #75 requires results be presented on your financial statements based on actual rates as of your year-end (reflective of published municipal bond ... 2024 is 1.93%. The Main valuation has been performed based on a 1.93% discount rate, with sensitivity results at both 0.93% and 2.93%. Since there is no OPEB Trust, the Index will apply. [For ... Web• GASB Statement No. 92, Omnibus 2024 • Not expected to be applicable to most state agencies 3 Summary of GASB Updates • Effective Dates – GASBs Implemented in FY 2024 – (a recap) • June 30, 2024 • GASB Statement No. 93, Replacement of Interbank Offered Rates • Not expected to be applicable to most state agencies
Key differences in ASC 842 and GASB 87 Wipfli
WebJun 22, 2024 · Under GASB guidance, each lease could have a different discount rate, which needs to be supported with appropriate documentation. Below is an example framework to calculate a government’s incremental borrowing rate: Base Rate + Financing Adjustments + Lease-Specific Adjustments = Incremental Borrowing Rate WebMar 12, 2024 · Remember that GASB defines leases, in part, as an exchange or exchange-like transaction. This doesn’t appear to be an exchange-like transaction as $1 is likely not … can gators be tamed
TMRS • GASB • Discount Rates
WebUsing a lower discount rate increases the present value of projected benefit payments and, thereby, increases the size of the pension liability. Do the GASB’s standards allow governments to make their liabilities look smaller by using a discount rate based on unrealistically high expected rates of investment return? No. WebGASB 68 REPORTING FOR JUNE 30, 2024 MEASUREMENT DATE SECTION III – DETERMINATION OF DISCOUNT RATE 4 The discount rate used to measure the Total Pension Liability was 5.60% as of June 30, 2024 and 5.40% as of June 30, 2024. As discussed with the DPB, the projection of cash flows used to determine the discount … Webliability is shown on the employer’s balance sheet under GASB 73. The discount rate is based solely upon municipal bond yields. This is the yield or index rate for 20-year, tax … fitbit setup instructions versa