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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