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Board approves Foster & Foster engagement to produce GASB 73/75 actuarial valuation
Summary
Trustees authorized Foster & Foster to prepare the district's annual actuarial valuation for GASB 73 and 75 reporting on OPEB and pension liabilities for the year ending June 30, 2026; the valuation will be included in the district audit.
CBO Melissa Kielpinski said the district uses Foster & Foster to perform the annual actuarial valuation required for GASB 73 and 75 reporting concerning OPEB and pension liabilities. The valuation covers the fiscal year ending June 30, 2026 and is included in the district's audit report.
"To accommodate the requirements of GASB 73 and 75, the District utilizes the services of Foster & Foster to perform an annual actuarial valuation for the year ending June 30, 2026 to measure and disclose the District's liabilities in relation to OPEBs and pension plans," Kielpinski said. The board voted to approve the contract.
