List the pension funds included in the financial statements

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Reference no: EM132756405

Question - City of Bridge port CAFR 2019:

a) Does the government have private-purpose trust funds? If so, List them. Describe the purposes for which they exist. Can you tell if any of those funds are endowments, and have resources permanently restricted? How much income was generated by each of the private purpose funds, and how much was released for use? Does the government report escheat property as private purpose funds? If so, indicate the nature of the process by which property is released and for what purposes?

b) List the pension funds included in the financial statements. From the notes, list the other pension plans that are available to employees of your governmental unit. Are those plans agent plans or cost sharing plans? Defines contribution or define benefit? Are required disclosures made in the notes for all pension plans, whether or not the plans are included as trust funds? Are the two RSI schedules included in your report (when defined benefit plans are reported)? Look at the actuarial status of the plans and comment about the potential impact of pensions on the financial condition of the government.

Reference no: EM132756405

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