July 25, 2019

Michigan Committee on Governmental Accounting and Auditing Statements

July 25, 2019

Meeting Agenda

1. Executive Directive 2019-11, Encouraging Transparency in State Government
   1. Open Meetings Act
      1. Post meeting dates and minutes to website, etc.
   2. “Public comment" session before each revision of the UCA
      1. Uniform Chart of Accounts
         1. Issue timeline with plans of UCA including minor and major revision dates, etc.
2. Lean Process Improvement
3. Treasury Guidance
   1. Manuals to update: See Guidance Map
4. GASB 75, Accounting and Financial Reporting for OPEB
   1. How a local unit is supposed to calculate the discount rate (cross over point, etc.) with different examples/scenarios including if locals can use smoothing in the generation of some of the uniform assumptions.
5. GASB 84 changes to chart of accounts. Spreadsheet Word
6. GASB 84 impact on pension and OPEB plans. See Michelle’s email.
7. Road Commission Accounting Manual