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Sturgeon County’s Annual Financial Statement Audit requires an Actuary to perform an estimate for the County’s retirement liability. This complex computation involves the use of various assumptions and parameters to arrive at a reasonable value for the future employee post retirement liability for the county financial statement reporting.
To support this reporting requirement, the County’s Corporate Finance and Treasury department requires a third party to perform retirement liability actuarial services every 3-4 years and must be disclosed in our annual financial statements.
The outcome of the actuarial valuation is expected to become a standard for the County to use for future estimation and will be used to support the annual financial reporting for the County. Sturgeon County’s intent is that an actuarial review be performed every 3 to 4 years.
Sturgeon County’s Annual Financial Statement Audit requires an Actuary to perform an estimate for the County’s retirement liability. This complex computation involves the use of va...
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