Last week, the Texas Education Agency announced an update to clarify pension expense data to be reported in the L-1 schedule in the Annual Financial Report Data Feed.
The following table shows the due dates for submitting the Annual Financial Report and the Annual Financial Report Data Feed for different fiscal year calendars.
| If a district’s fiscal year ends on: |
then the AFR and AFR Data Feed are due to TEA on or before: |
| August 31 |
January 28 |
| June 30 |
November 27 |
The TEA announcement about the L-1 schedule is excerpted below.
“This email serves to clarify the letter sent on October 11, 2016, regarding Governmental Accounting Standards Board (GASB) 68 and pension expense. The items that should be included in the calculation of pension expense are:
- The district's proportionate share of pension plan expense
- Amortization of outflows and amortization of (inflows)
- Contributions before the end of measurement period
- Contributions in the current fiscal year made after the end of measurement period
- Any contribution adjustments and differences from the conversion of GASB 68
Any on-behalf amounts (Non-Employer Contributing Entity, NECE) should not be included in the pension expense reported on the L-1.
If you have finalized your fiscal year 2016 data feed and would like to re-submit your pension expense information on the L-1 schedule, please email Paul Moreno at paul.moreno@tea.texas.gov”