January 7, 2025 City of Tamarac Police Officers’ Pension Trust Fund, Board of Trustees c/o Ms. Livia Giuliani Benefits USA, Inc. 3810 Inverrary Boulevard, Suite 303 Lauderhill, Florida 33319 Re:
City of Tamarac Police Officers’ Pension Trust Fund GASB No. 68 Disclosure Information for Reporting Year Ending September 30, 2024
Dear Board Members: As requested, we have prepared the actuarial disclosure information required under Governmental Accounting Standards Board (GASB) Statement Number 68 for the City of Tamarac Police Officers’ Pension Trust Fund for use in the preparation of the City’s GAAP‐basis employer financial statement for the reporting year ending September 30, 2024. GASB Statement No. 68 establishes the accounting and financial reporting standards for state and local government employers who provide their employees (including former employees) pension benefits through a trust. These calculations have been made on a basis that is consistent with our understanding of this accounting standard. Enclosed are the following exhibits, based upon financial information as of September 30, 2024:
Executive Summary Schedule of Changes in Net Pension Liability and Related Ratios for Measurement Year Notes to Net Pension Liability Pension Expense Under GASB No. 68 Statement of Outflows and Inflows Arising from Current Reporting Period Statement of Outflows and Inflows Arising from Current and Prior Reporting Periods Summary of Remaining Deferred Outflows and Inflows of Resources Schedule of Contributions Notes to Schedule of Contributions Sensitivity of Net Pension Liability to the Single Discount Rate Assumption
The actuarial valuation of the liabilities was determined as of October 1, 2023 (based on the actuarial valuation results as reported in the October 1, 2023 actuarial valuation report dated February 7, 2024) and rolled forward to the September 30, 2024 measurement date. These liabilities are used for GASB Statement No. 68 reporting for the reporting period ending September 30, 2024. If significant changes occur during the year, such as benefit changes or changes in assumptions or methods, these should be noted in the footnotes.