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Thanks everyone for the excellent responses. RAMS, our auditors, have been great reviewing my scenarios so I do not hit the cash account. Decided to post FMV only once a year for the ACFR, and we did not post FMV in the past as it was immaterial. ...

When I listened to the LAIF webinar, they made a comment that agencies should state in their note following the GASB 79 disclosure that LAIF is a Stable Value Fund and the investment is protected. You will get your full dollar back. I'm sure I didn't ...

Mike, In our monthly Treasurer's reports we have a market value column for all investments and a purchase cost column. We do not mark investments to market in our general ledger during the fiscal year. We only mark to market at June 30th for ACFR reporting ...

Hey folks - Happy thanksgiving !! Just a heads up. I just became aware that the phone bill for the landlines in our elevators provided by AT&T have been increasing monthly under our CALNET contract and are now over $1,000 per line (see explanation ...

Hi Mike, We have created a contra asset account to track LAIF FMV, we balance that against our Market/Gain tracking account, not touching the cash account. Then the balance sheet will show two entries, cash and a LAIF FMV adjustment, giving a final ...