Change management and key insights to consider when applying the rules of the new GASB 45 standard GASB 45 is changing the way governments account for the costs of other post-employment benefits (OPEBs). Government employers are required to calculate costs on an accrual accounting basis, rather than with the commonly used cash accounting, or "pay-as-you-go", method. Lynchval is assisting government organizations by helping them understand the “what ifs” and the many ways they are impacted by these changes. We then providing strategic direction and expert advice to guide organizations through this transition and help them meet the requirements of the new standard. We will provide valuable guidance on:

• Understanding the magnitude of your liabilities, and exploring your alternatives
• Developing a new accounting and actuarial reporting strategy and a comprehensive implementation plan
• Evaluating the impact of unfunded liabilities on financial status and your bond rating
• Revisiting benefit programs in light of future liabilities and exploring new options in plan design, eligibility rules, and employer contribution levels
• Assessing the gap and what your funding alternatives are

Contact us today for a consultation at no obligation 703-709-1000 x 202