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Jacksonville Beach pension boards approve audits and actuarial valuations; funded ratios improve across plans
Summary
Three Jacksonville Beach pension boards approved audited financial statements and annual actuarial valuations showing improved funded ratios: general plan just over 80%, police above 90%, and fire rising to about 81%. Auditors issued a clean opinion and actuaries recommended continued required contributions.
The Jacksonville Beach pension boards on their quarterly meeting approved the city’s audited financial statements for the year ended Sept. 30, 2020, and adopted annual actuarial valuations that show improved funding across the three plans.
Auditor Ryan Tucker of Purpose Grain Company told trustees the firm issued a clean, unmodified opinion on the financial statements and included an emphasis-of-matter paragraph about COVID-19’s uncertain longer-term effects. "You are receiving an unmodified opinion on these financial statements," Tucker said during the meeting.
The boards then voted to adopt the audit and, later, the…
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