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Office of the State Auditor
OPEB Trusts
Government entities that promise medical and other benefits to employees after they leave employment have a liability for those future benefits. The Government Accounting Standards
Board (GASB) calls these future benefits Other Post Employment
Benefits (OPEB) and requires that the liability for these benefits be reflected in the government entity’s financial statements. To the extent a government entity places funds in an
irrevocable OPEB trust, the financial statements can reflect a satisfaction of
this future liability.
Minnesota law permits government entities to create trusts to set aside money to pay future OPEB benefits. State law further requires that the trust administrators of these OPEB trusts
annually report certain information to the Office of the State Auditor
starting in October of 2015.
The OPEB trust(s) for your entity, if any, and the related trust administrator information that have been reported to the Office of the State Auditor are listed below.
Our records show that your entity has no OPEB Trusts. Is that correct?
Yes
Name of Bank or
OPEB Trust NameContact Person*Title*Street Address Line 1*Street Address Line 2City*State*Zip Code*Phone Number*Email Address*
Insurance Company*