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CCP 05-22-2006
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CCP 05-22-2006
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5/8/2007 1:21:35 PM
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11/15/2006 10:10:14 AM
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<br />m <br />I ti?;t <br />filL~ <br /> <br />City of Arden Hills <br />Apri] ]4,2006 <br />Page Twenty <br /> <br />CASB Statement No. 47 - Accountingfor Tennination Benf'jits <br /> <br />In general, Statement No. 47 is effective for financial statements for periods beginning after June 15,2005. However, <br />for termination benefits that affect defined benefit post employment benefits other than pensions, governments should <br />implement Statement No. 47 simultaneously with Statement No. 45, Accounting and Financial Reponing by Employers <br />for Post employment Benefits Other Than Pensions. The Statement provides accounting and reporting guidance for state <br />and local governments that offer benefits such as early retirement inClTItives or severance to employees that are <br />involuntarily tenninated. The Statement requires that similar fOffilS of termination benefits be accountc"d for in the same <br />manner and is intended to enhance both the consistency of reponing for termination benefits and the comparability of <br />financial statements. <br /> <br />-x * * 'k * <br /> <br />This rcpOli is intended solely for the information and use of the Council, management, others within the City and the Minnesota <br />Office of the State Auditor, and is not intended to be and should not be used by anyone other than these specified parties. <br /> <br />OUT audit would not necessarily disclose all \veaknesses in the system because it was based on selected tests of the accounting <br />records and related data. The comments and recommendations in the report are purely constructive in nature, and should be read <br />in this context. <br /> <br />If you have any questions or wish to discuss any of the items contained in this letter, please feel free to contact us at your <br />convemence. We wish to thank YOll for the opp011unity to be of servjce and for the courtesy and cooperation extended to us by <br />your staff. <br /> <br />April ]4,2006 <br />Minneapolis, Mlnnesota <br /> <br />ABDO, E]CK & MEYERS, LLP <br />Certified Public Accountants <br /> <br />952.83S.9090 . Fax 9.')2.335.3261 <br /> <br />www.m:mepas.com <br /> <br />. <br /> <br />. <br /> <br />. <br />
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