State & Local Government Finance Forms

State & Local Government Finance Forms

Planned Changes for F-11_F-12_F12(S)_2012

State & Local Government Finance Forms

OMB: 0607-0585

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Planned Form Changes for 2012 and 2013 F-11, F-12, and F-12(S)

New burden hour estimate: 2.5 hours.

2012/2013 Form-11/Form-12 Recommendations – Item code Additions

Item Code

Description

Comments

NEW

DROP members

Add just the number of payees.

NEW

Mutual Funds

The Federal Reserve would like to see this as a separate category.

NEW

Hedge Funds

The Federal Reserve would like to see this as a separate category.

NEW

Actuarial valuation date

Actuarial valuation date differs from CAFR date and also needs to include the day - not just the month and year.

NEW

Active and inactive AAL

Add two extra fields to differentiate between active and inactive AAL.

NEW

Employer and member portion of normal cost

Add extra field to differentiate between employer portion and member portion of normal cost.

NEW

Percent contributed of ARC

Add a field for "percent contributed" of the ARC.

NEW

Solvency Test Questions

Add eight new fields to include the solvency test.



2012/2013 Form-11/Form-12 Recommendations - Item code Modifications

Item Code

Description

Comments

Z02

Inactive members

Add an extra field to differentiate between "vested" and "not vested."

Z91/Z96

Net gains/losses on investments in market/fair value

Break out realized and unrealized gains.

Z68

All other short-term investments

Break out into 1) repurchase agreements; 2) commercial and finance company paper and bankers acceptances; 3) money market mutual funds; 4) investments held in trust funds, including shares of collective investment funds, short-term investment funds and/or pools, and employee benefit trust funds.

X33

Federal agency securities

Combine Federal agency securities with Federally-sponsored agency securities and bonds.

Z62

Federally-sponsored agencies

Combine Federal agency securities with Federally-sponsored agency securities and bonds; pull Sallie Mae securities out and report it with Corporate bonds.

Z63

Corporate bonds, other

Move Sallie Mae securities into this category; explicitly include asset-backed securities, commercial mortgage-backed securities, corporate collateralized mortgage-backed securities, and private debt to Z63 which currently includes debentures, convertible bonds, and railroad equipment certificates.

Z78

Corporate stocks

Add private equity, venture capital, leveraged buy-outs, and investments in REITs; all of which would be pulled from Other investments (X47).

Z70

Foreign and international securities

Break out into two new categories: Corporate foreign stocks and Corporate foreign bonds.

X46

Real property

Keep as is but provide a custom tab of the Z81 total without X46 for the Federal Reserve.

X47

Other investments

Move private equity, venture capital, leveraged buy-outs, and investments in REITs into Corporate stocks (Z78); also add State and local government securities (X35); add everything from Other securities (Z83) except for Mutual funds; add foreign currency, derivatives, guaranteed investment contracts, annuities, and life insurance.

Z81

Total cash and security holdings of public employee retirement system

Keep as is but provide a custom tab of Z81 total without real property (X46) for the Federal Reserve

V12

Investment Rate of Return

Add "discount rate" to the terminology - not just "investment rate of return."

2012/2013 Form-11/Form-12 Recommendations - Item code Deletions

Item Code

Description

Comments

X35

State and local government securities

Move into Other investments (X47).



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