GASB Proposes to Postpone Effective Dates of Certain Pronouncements

Norwalk, CT, April 15, 2020—The Governmental Accounting Standards Board (GASB) today proposed to postpone the effective dates of provisions in almost all Statements and Implementation Guides due to be implemented by state and local governments for fiscal years 2019 and later.

In light of the COVID-19 pandemic, the Exposure Draft, Postponement of the Effective Dates of Certain Authoritative Guidance, is intended to provide relief to governments. The proposal would postpone by one year the effective dates of provisions in the following pronouncements:

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Your Direct Contact at TMRS

Dear GFOAT Members, Due to these challenging times of COVID-19, TMRS is keeping you, your employees, and your community in our thoughts and prayers.  I’d like to remind you that you have a contact at TMRS – me.  I’m available to assist you and your employees with any TMRS questions and issues anytime. TMRS is … Read more

TMRS Highlights from the March 24 Board Meeting

By Casey Srader, TMRS Advisory Board Representative Gabriel, Roeder, Smith & Company (GRS) recommended crediting the Benefit Accumulation Fund (BAF) interest equal to approximately 15.42 percent, which will be credited based on the beginning of year market value BAF balance for each City. This will increase the initial Interest Reserve Account from 290 million to … Read more

GFOAT- COVID-19 Update-April 1

GFOAT Members and Sponsors, Our world has changed so much in the last 30 days. We have gone from putting the finishing touches on our spring conference and trying to wrap our heads around Senate Bill 2 to social distancing and sheltering in place. We are making decisions daily regarding the safety and security of our citizens … Read more

2020-2021 GFOAT NOMINATING COMMITTEE

The following members have been appointed to 2020-2021 GFOAT Nominating Committee: Chair: Robert (Bob) Scott, ACM/Chief Financial Officer, City of Carrollton Terrence Beaman, Chief Financial Officer, City of Bellaire Steven Glickman, CPA, CGFO, City of Allen Don Jennings, Director of Finance, City of Perryton Clara Santos, Department Fiscal Administrator, City of San Antonio  

TMRS Highlights from the February 13-14 Board Meeting

Article by Casey Srader, TMRS Advisory Board Representative The TMRS board has two  new members in 2020 – Anali Alanis, assistant city manager of Pharr, and Juan Diego “Johnny” Huizar, city manager of Pleasanton. Anali replaces Jim Jeffers of Nacogdoches, who retired in January 2020. Johnny replaces Jim Parrish of Plano, who retired in 2019. … Read more

TMRS Highlights from the December 5-6 Board Meeting

The TMRS Board Meeting scheduled for Friday, December 6, was canceled due to a lack of a quorum. However, many of the items on the agenda that were scheduled for Friday, December 6, were covered during the Thursday, December 5 meeting.   Gearing up for a new year, the TMRS Board approved the 2020 TMRS Operating … Read more

TMRS Highlights from the October 31 Board Meeting

The TMRS Board meeting scheduled for Thursday, October 31, ended up being an abbreviated meeting due to the illness of the Board Chair Bill Philibert, who was at the meeting not feeling well. Also, as a result, the scheduled meeting for Friday, November 1, was canceled. Things are in full swing to find a replacement … Read more

TMRS Highlights from September 26-27 Board Meeting

The TMRS Board Meeting was held in Austin, September 26-27. Agenda Item #1:  Receive presentations and consider and act on selection of search firm for executive director position The board spent nearly three hours on this item, indicating its importance.  The board wants to sustain the positive efforts that David Gavia has brought to the … Read more

TMRS Highlights from the August 22 Board Meeting

Summer has certainly not slowed things down when it comes to TMRS happenings. Since the last meeting in June, Jim Parrish has resigned from the TMRS Board and his position in the City of Plano to pursue other opportunities. As a result of Parrish’s resignation from the Board, two vacancies on internal committees needed to … Read more