GASB 45 definition

GASB 45 means the rules promulgated by GASB governing the manner in
Sample 1Sample 2Sample 3
GASB 45 means Government Accounting Standards Board Statement Number 45, Accounting and Financial Reporting by Employers for Post-employment Benefits Other Than Pensions.
Sample 1Sample 2
GASB 45 means the estimates of total liability and annual employer required contribution for post retirement health benefits that are required to be provided in the City’s annual financial reports pursuant to Governmental Accounting Standard Board Statement No. 45, as said Statement is in effect on July 1, 2011.
Sample 1Sample 2

Examples of GASB 45 in a sentence

  • For GASB 45 purposes, this plan is considered a cost-sharing, multiple-employer, defined benefit other postemployment benefit (OPEB) plan.

  • Prior accounting for pensions (GASB 27) and postemployment benefits (GASB 45) focused on a funding approach.

  • Gains and losses arise from experience and contribution deficiencies and excess contributions in relation to each year’s ARC under GASB 45.

  • The initial Actuarial Accrued Liability as of the date GASB 45 was adopted is amortized as a component of the Annual Required Contribution (“ARC”).

  • As a result there are no disclosures included in these statements as required by GASB 45.

  • The Plan adopted and implemented GASB 45 (“Accounting and Financial Reporting by Employers for Postemployment Benefits other than Pensions”) effective for the fiscal year ending June 30, 2009.

  • GASB 45 required recognizing pension expense equal to the contractually required contributions to the plan.

  • GASB 45 requires employers to perform periodic actuarial valuations to determine annual accounting costs, and to keep a running tally of the extent to which these amounts are over or under funded.

  • For years subsequent to the initial adoption of GASB 45, cumulative gains/losses are amortized on a level dollar basis over a 30 year period.

  • Under GASB 45, this amount may be amortized over a period not to exceed thirty (30) years.


More Definitions of GASB 45

GASB 45 means Statement Number 45 issued by GASB requiring public agencies to report OPEB Obligations on their balance sheets effective after December 31, 2006.
Sample 1
GASB 45 means Government Accounting Standards Board Statement Number 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions.
Sample 1

Related to GASB 45

  • GASB means the Governmental Accounting Standards Board. “Goods” means supplies, materials, or equipment.

  • Hydroelectric energy means water used as the sole source of energy to produce electricity.

  • Uppermost aquifer means the geologic formation nearest the natural ground surface that is an aquifer, as well as lower aquifers that are hydraulically interconnected with this aquifer within the facility's property boundary.

  • HUC 14 or "hydrologic unit code 14" means an area within which water drains to a particular receiving surface water body, also known as a subwatershed, which is identified by a 14-digit hydrologic unit boundary designation, delineated within New Jersey by the United States Geological Survey.

  • COVID-19 means SARS-CoV-2 or COVID-19, and any evolutions or mutations thereof or related or associated epidemics, pandemic or disease outbreaks.

  • Natural gas company ’ means a person engaged in the transportation of natural gas in interstate commerce, or the sale in inter- state commerce of such gas for resale.

  • Fossil fuel-fired means, with regard to a unit:

  • Natural Gas or "Gas" shall mean natural gas, processed, unprocessed, vaporized liquid natural gas, synthetic gas, propane-air mixture or any mixture of these gases.

  • Solar energy means the sun used as the sole source of energy for producing electricity.

  • Natural Gas Liquids means those hydrocarbon components that can be recovered from natural gas as a liquid including, but not limited to, ethane, propane, butanes, pentanes plus, and condensates;

  • Fossil fuel means natural gas, petroleum, coal, or any form of solid, liquid, or gaseous fuel derived from such material.

  • Ultra Low Sulfur Diesel Fuel means diesel fuel that has a sulfur content of no more than fifteen parts per

  • Solid Fuel means wood, coal, and other similar organic material or combination of these materials.

  • Greywater means all liquid wastes from showers, baths, sinks, kitchens and domestic washing facilities, but does not include toilet wastes;

  • Solid Waste Management Unit , or “SWMU” means any discernible unit at which solid wastes have been placed at any time, irrespective of whether the unit was intended for the management of solid or hazardous wastes. Such units include any area at a facility at which solid wastes have been routinely or systematically released.

  • Air kerma means kerma in a given mass of air. The unit used to measure the quantity of air kerma is the Gray (Gy). For X-rays with energies less than 300 kiloelectronvolts (keV), 1 Gray of absorbed dose is delivered by 114 roentgens (R) of exposure.

  • Municipal solid waste landfill or “MSW landfill” means an entire disposal facility in a contiguous geographical space where household waste is placed in or on land. An MSW landfill may also receive other types of RCRA Subtitle D wastes such as commercial solid waste, nonhazardous sludge, and industrial solid waste. Portions of an MSW landfill may be separated by access roads. An MSW landfill may be publicly or privately owned. An MSW landfill may be a new MSW landfill, an existing MSW landfill or a lateral expansion.

  • Compressed natural gas means a mixture of hydrocarbon gases and vapors that consists primarily of methane in gaseous form that has been compressed for use as a fuel to propel a motor vehicle.

  • Gas company means any person distributing gas within the corporate limits or authorized and proposing to so engage.

  • Liquefied natural gas or “LNG” means natural gas that has been liquefied.

  • Solid waste management means the purposeful and systematic collection, transportation, storage, processing, recovery, or disposal of solid waste.

  • Solid waste means all solid waste, including construction debris, hazardous waste, excess cement/ concrete, wrapping materials, timber, cans, drums, wire, nails, food and domestic waste (e.g. plastic packets and wrappers);

  • cogeneration means the simultaneous generation in one process of thermal energy and electrical or mechanical energy;

  • Greenhouse means a structure covered with transparent or translucent materials for the purpose of admitting natural light and controlling the atmosphere for growing horticultural products. Greenhouse does not include a structure primarily used to grow marihuana.

  • Shellfish means those species of marine and freshwater

  • ESBD means the Electronic State Business Daily, the electronic marketplace where State of Texas bid opportunities over $25,000 are posted. The ESBD may currently be accessed at http://www.txsmartbuy.com/sp.