2013 Governmental Conference May 3, 2013 The Montana Society of CPA’s Governmental Audit, Accounting and Financial Reporting Committee is proud to present a conference that focuses on accounting, auditing and reporting issues affecting Montana’s local governments. This conference has been designed for auditors of local governments; representatives of city, county, town and district governing boards; and accountants from city, county, town and school district business offices. Impact of New GASB Pension Accounting Standards on Montana Employers -- and More! 8:00am to 11:30am This course will address the following issues: • New GASB Statements No. 67 and 68 with a focus on cost sharing employers and potential impact on Montana employers • Overview of Pew Center on the States research regarding public pension plans • Update and impact of credit rating agencies view on public pension plan liabilities • Considerations in setting a pension funding policy -- a “demystification” of the actuarial black box regarding public pension funding • Options in public pension plan design – what are states doing? • Other current issues of interest. Presented by: Ron Smith, FSA, leads ICMA-RC’s Actuarial Services Group which assists clients in examining alternatives to their traditional retirement programs, including consulting involving hybrid and defined contribution plan design. Founded in 1972, ICMA-RC is a non-profit independent financial services corporation focused on providing retirement plans and related services for more than a million public sector participant accounts and approximately 9,000 retirement plans. Ron has over 30 years of actuarial experience and holds a Bachelor of Science degree in Applied Mathematics from Brown University. He is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries and an Enrolled Actuary under ERISA. This presentation provides an overview of recently issued GASB standards, a preview of standards on the horizon and potential exposure drafts of which you should be aware. Standards to be discussed include, Financial Reporting of Deferred Inflows and Outflows and Net Position, Items Previously Reported as Assets and Liabilities (Statements 63 and 65). This presentation provides an overview about elements of the clarified standards and their application to audits for the governmental environment. Presented by: Jeff Bridgens, CPA has practiced public accounting since 2001. During his career at Moss Adams, he served government clients in Oregon and Northern California and has experience with financial statement audits of state and local governments and colleges and universities. He also has significant experience with audits of not-forprofit organizations, including foundations. In 2010, Jeff joined the Governmental Accounting Standards Board as a Practice Fellow, a position he held while a Moss Adams employee. While at GASB, he was responsible for research, writing and presentation of accounting and financial reporting issues for the Board’s consideration of incorporating into authoritative guidance for state and local governments. In addition, he was also responsible for providing responses to technical inquiries from around the country. He has a Bachelor of Science from the University of Oregon, is a CPA, a member of the AICPA, Oregon Society of CPAs, and Arizona Society of CPAs. GASB 45 - OPEB After Implementation May 2, 2013 Information Best Western GranTree Inn Bozeman GASB Update and Audit Standards Update 12:30pm to 4:00pm Take this opportunity to attend an extra day for additional 7 credits. Cost: Registration: Start Time: End Time: $150 7:30 am - 8:00 am 8:00 am 4:00 pm (lunch will be served) Hotel: Best Western GranTree Inn 1325 N 7th Ave Bozeman 406-587-9437 Local Governments have now implemented GASB 45. For most Montana local governments that meant wrapping our minds around something called the “implied rate subsidy.” What have we learned? Join a panel discussion Thursday May 2nd and find out. The panel will include Ronald Smith, Director, Actuarial Services, ICMA-RD; Kay Gray and Kim Smith, Montana Department of Administration and Rick Reisig, Anderson ZurMuehlen & Co pC. Bring your questions and first hand experiences. Hilton Garden Inn Bozeman Room blocks have been set up at the GranTree Inn. Please make your reservations by April 2. To register please go to: www.mscpa.org or call 406-442-7301 Cost: Registration: Start Time: End Time: $100 8:30 am - 9:00 am 9:00 am 3:00 pm (working lunch will be served) Hotel: Hilton Garden Inn 2023 Commerce Way Bozeman 406-582-9900 Room blocks have been set up at the Hilton Garden Inn. Please make your reservations by April 15.