School Business Related Topics of Interest

GASB #27

This stands for statement 27 of the Governmental Accounting Standards Board.  Part of this statement addresses how governmental bodies are to report benefits given to retirees.  Healthcare premiums paid by the employer are currently the largest consideration.  While GASB #27 provisions are not yet mandated, it is believed they will be in the next several years.  Under full implementation, school districts would need to calculate long term liability through an actuarial study.  Full implementation would also, likely, require that school districts fund this obligations through an accrued liability account.  Since lump sum costs are substantial, it is hoped that some accommodation such as a phase-in or periodic balancing will be suggested.

BOCES Building Project

Legislation was passed in both Houses of the State to allow BOCES to enter into a lease contract with the Cayuga County Industrial Development Agency for a new campus.  This campus would be located just outside the western edge of the City of Auburn on Genesee Street.  The Governor is expected to authorize this legislation with the provision that several Chapter Amendments be incorporated.  Hopefully, this will occur shortly after the legislature returns from its New Year break.

In the meantime, Butterbaugh Archeological Corporation is completing its report to the New York State Office of Historical Preservation.  We are hopeful that the report will be accepted as-is and that this phase of the building project will be completed.  It was interesting to note that two Revolutionary War era coins were found on the site -- neither of which find was deemed to be significant.  It appears that our forefathers also lost coins from their pockets.