Effective January 1, 2015, Public Act 098-0738 requires municipalities to publish the auditor's communication to the President and Board of Trustees (referred to as the Management Letter) on the Village's website.
Actuarial Funding Reports
These reports provide accounting and financial reporting information that is intended to comply with theGovernmental Accounting Standards Board (GASB) Statement Nos. 67 and 68 for the Village of North Riverside and its associated retirement funds. These calculations have been made on a basis that is consistentwith our understanding of these Statements and in coordination with certified actuarial service providers.GASB Statement No. 67 is the accounting standard that applies to the stand-alone financial reports issuedby retirement systems. GASB Statement No. 68 establishes accounting and financial reporting for stateand local government employers who provide their employees (including former employees) pensionbenefits through a trust.