Friday, August 16, 2013

Watchdog Report: Trent Woods Board of Commissioners

AUGUST 12, 2013
Trent Woods Board of Commissioners Meeting
Every three years, the Town of Trent Woods is required to have an actuarial valuation done to determine the liabilities associated with the budget item "Other Post-employment Benefits (OPEB)" The Town has provided for Trent Woods employees.  Accordingly, the projected expense related to this was included in the FY 2-13-2014 budget.
While reviewing information related to that budget item, the Finance Officer discovered that the town is able to use an alternative measurement method rather than have an actuarial study performed by a consultant.  This is possible because the Town of Trent Woods has less than 100 active and retired participants eligible for OPEB.
This alternative measurement method can be performed by the Town of Trent Woods Finance Office, and as a result, the town will save approximately $1500 this year.
Abra Cullen, Finance Officer at Trent woods, said the billing will be sent out by the Craven County Finance Office next month.  Miss Cullen has been attending a local Government Financial School and has been the Finance Officer for Trent Woods for five months.
Eddella  Johnson
CCTA Watchdog for Town of Trent Woods


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