Governmental Accounting Standards Board (GASB) Valuation Report
Governmental Accounting Standards Board (GASB) issue its accrual accounting standards for retiree healthcare benefits, GASB 43 and GASB 45. GASB 43/45 require public employers such as the District to perform periodic actuarial valuations to measure and disclose their retiree healthcare liabilities for the financial statements of both the employer and the trust, if any, set aside to pre-fund these liabilities. In June 2015, GASB released new accounting standards for post-retirement benefit programs, GASB 74 and GASB 75, which replace GASB 43 and GASB 45, respectively. GASB 45 reports were published every three years until GASB 75 was implemented. The GAS 75will be published annually.