The Division of Local Government Services has just posted Local Finance Notice 2009-13 on their website. The LFN details your responsibilities to provide financial reporting on “other post employment benefits” (OPEB) provided to employees. The reporting requirement stems from financial reporting standards issues by the Government Accounting Standards Board (GASB) as GASB Statement 45 , initially covered in Local Finance Notice 2007-15. Finance professionals should review both Notices.
