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CITY OF SAN LEANDRO <br />MEMORANDUM ON INTERNAL CONTROL <br />SCHEDULE OF OTHER MATTERS <br />GASB 74 -Fin ancial Reporting for Post-enwlovment Benefit Plans Other Th an Pension Plans <br />The objective of this Statement is to improve the usefulness of information about post-employment <br />benefits other than pensions (other post-employment benefits or OPEB) included in the general purpose <br />external financial reports of state and local governmental OPEB plans for making decisions and assessing <br />accountability. This Statement results from a comprehensive review of the effectiveness of existing <br />standards of accounting and financial reporting fur all post-employment benefits (pensions and OPEB) <br />with regard to providing decision-useful information, supporting assessments of accountability and inter-. <br />period equity, and creating additional transparency. <br />GASB 77 -Tax Abatement Disclosures <br />This Statement establishes fmancial reporting standards for tax abatement agreements entered into by <br />state and local govermnents. The disclosures required by this Statement encompass tax abatements <br />resulting from both (a) agreements that are entered into by the reporting govermnent and (b) agreements <br />that are entered into by other govermnents and that reduce the reporting govermnent's tax revenues. <br />Effective in fiscal year 2017-18: <br />GASB 75 -Accounting and Financial Reporting for Post-enwlo vment Benefits Other Th an Pensions <br />The primary ol:ijective of this Statement is to improve accounting and financial reporting by state and <br />local governments for post-employment benefits other than pensions (other post-employment benefits or <br />OPEB). It also improves information provided by state and local govermnental employers about financial <br />support for OPEB that is provided by other entities. This Statement results from a comprehensive review <br />of the effectiveness of existing standards of accounting and financial reporting for all post-employment <br />benefits (pensions and OPEB) with regard to providing decision-useful information, supporting <br />assessments of accountability and inter-period equity, and creating additional transparency. <br />5