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GASB

PERSI has provided instructions, sample footnote disclosures, and sample journal entries to help employers understand how to take the PERSI data and apply it to their financial statements. These guidelines are NOT authoritative nor designed to replace guidance from your auditor. Instead, they provide sample displays to assist with the preparation of employer financial statements, footnote disclosure, and RSI if required to report under GASB. PERSI cannot be held liable for how the employer applies the information provided by PERSI to its financial statements.

Select Your Fiscal Year End For GASB 68

This is an example of a journal entry for an employer with a September 30, 2020, fiscal year-end. If an employer has a different fiscal year-end (i.e. 8/31/20, 10/31/20, etc…) then the Deferred Outflows of Resources related to contributions subsequent to the measurement date would represent the total months of contributions after June 30, 2020, to the employers fiscal year-end.

10/26/20 – Sample JE Employers With FYE 9-30-2020 Using 6-30-2020 Measurement Date

10/26/20 – PERSI BASE PLAN Sample Footnote For Employers With a 9-30-2020 FYE Using 6-30-2020 Measurement Date

10/26/20 – PERSI BASE PLAN Instructions For Sample Journal Entries Footnote Disclosure and RSI For Employers With 9-30-20 FYE Using 6-30-20 Measurement Date

10/26/20 – GASB 68 2020 Base Plan Allocation Report

10/26/20 – GASB 68 2019 Base Plan Allocation Report

10/26/20 – PERSI 2020 Financial Statements

11/16/20 – PERSI 2020 Actuary Report


2020 – For Employers with a 6/30/2020 FYE using a 6/30/2019 Measurement Date

PERSI Base Plan

04/30/20 – Sample JE For Employers FYE 6-30-2020 Using 6-30-2019 Measurement Date

04/30/20 – PERSI BASE PLAN Sample Footnote For Employers With a 6-30-2020 FYE Using 6-30-2019 Measurement Date

04/30/20 – PERSI BASE PLAN Instructions For Sample Journal Entries Footnote Disclosure And RSI For Employers With 6-30-20 FYE Using 6-30-19 Measurement Date

04/30/20 – GASB 68 2019 Base Plan Allocation Report

04/30/20 – GASB 68 2018 Base Plan Allocation Report

04/30/20 – PERSI 2019 Financial Statements

04/30/20 – PERSI 2019 Actuary Report

The GASB 68 rules apply only to accounting and reporting. They do not apply to funding and will not be used to determine contribution requirements. The GASB 68 requirements will not change the actual pension liability; the only thing that changes is where and how pension costs are accounted for in financial statements.


This is an example of a journal entry for an employer with a September 30, 2019, fiscal year-end. If an employer has a different fiscal year-end (i.e. 8/31/19, 10/31/19, etc…) then the Deferred Outflows of Resources related to contributions subsequent to the measurement date would represent the total months of contributions after June 30, 2019, to the employers fiscal year-end.

10/31/19 – Sample JE Employers With FYE 9-30-2019 Using 6-30-2019 Measurement Date

10/31/19 – PERSI BASE PLAN Sample Footnote For Employers With a 9-30-2019 FYE Using 6-30-2019 Measurement Date

10/31/19 – PERSI BASE PLAN Instructions For Sample Journal Entries Footnote Disclosure and RSI For Employers With 9-30-19 FYE Using 6-30-19 Measurement Date

10/31/19 – GASB 68 2019 Base Plan Allocation Report

10/31/19 – GASB 68 2018 Base Plan Allocation Report

10/31/19 – PERSI 2019 Financial Statements

10/31/19 – PERSI 2019 Actuary Report


2019 – For Employers With a 6/30/2019 FYE Using 6/30/2018 Measurement Date

PERSI Base Plan

10/25/18 – Sample JE For Employers With FYE 6-30-2019 Using 6-30-2018 Measurement Date

10/25/18 – PERSI BASE PLAN Sample Footnote For Employers Using 6-30-2018 Measurement Date

10/25/18 – PERSI BASE PLAN Instructions For Sample Journal Entries Footnote Disclosure and RSI For Employers Using 6-30-18 Measurement Date

10/25/18 – GASB 68 2018 Base Plan Allocation Report

10/25/18 – GASB 68 2017 Base Plan Allocation Report

10/25/18 – PERSI 2018 Financial Statements

10/25/18 – 2018 PERSI Actuary Report

The GASB 68 rules apply only to accounting and reporting. They do not apply to funding and will not be used to determine contribution requirements. The GASB 68 requirements will not change the actual pension liability; the only thing that changes is where and how pension costs are accounted for in financial statements.




Select Your Fiscal Year End For GASB 75




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