The Governmental Accounting Standards Board (GASB) issued Statement No. 68, Accounting and Financial Reporting for Pensions which affects the financial statements of Colorado PERA-affiliated employers, including school districts. PERA is a cost-sharing multiple-employer defined benefit pension plan. This reporting requirement is effective for fiscal years beginning after June 15, 2014.
Resources Available From Colorado PERA
- The link below provides a summary of the audited schedules and other related items that PERA made available to PERA-Affiliated Employers to assist them with GASB Statement No. 68. This information is available on PERA's secured website portal, STARS.
https://www.copera.org/employers/gasb-reporting-standards/employer-schedule-status
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The link below contains a listing of educational resources covering the new pension standards. This website includes a number of educational videos which were produced by PERA, a summary overview of the new pension standards and links to useful publications from other organizations and also includes a sample journal entries publication.
https://www.copera.org/employers/gasb-reporting-standards
- The link below provides a sample journal entries publication for year 2 – This publication is intended to help PERA-Affiliated employers understand how to take your PERA-Affiliated employer information from your Division Trust Fund's GASB 68 Schedule of Employer Allocation, Schedule of Collective Pension Amounts, and related notes and create journal entries to record the year 2 pension activity for your entity.
https://www.copera.org/resources/forms-publications/sample-journal-entries-implementation-year
Other GASB 68 Resources
- The following links include the PowerPoint slides and detailed handouts from a training that was provided by CliftonLarsonAllen LLP on October 15, 2015
School District Provided Resources
- PENDING
If you have other GASB 68 Resources or examples that you would like to share with others, please send them to Kirk Weber
