WORDS TO WORK BY
LACERA retained the independent accounting firm of Brown Armstrong Paulden McCowan Starbuck & Keeter to provide financial statement audit services.
The annual report is divided into five sections with each section featuring detailed reports, graphs, and figures explaining the condition of LACERA´s finances.
The Introductory Section offers an overview of LACERA and the significant activities and events that occurred during the fiscal year 2008-2009. In addition to this Letter of Transmittal, this section contains the Certificate of Achievement for Excellence in Financial Reporting, the Public Pension Standards Award, Members of the Boards of Retirement and Investments, LACERA’s administrative management, and a list of professional consultants utilized by LACERA.
The Financial Section presents the financial condition and funding status of LACERA. Contents of this section include the Independent Auditor’s Report by Brown Armstrong CPAs, Management’s Discussion and Analysis, Financial Statements and Notes, and Other Supplementary Information.
The Investment Section provides an overview of LACERA’s investment program. This section contains the Independent Consultants Report, the Chief Investment Officer’s Report, Investment Results, a list of the Investment Managers who provide investment services to LACERA, and other portfolio information.
The Actuarial Section communicates the Association’s funding status and presents other actuarial related information. This section contains the certification of the consulting actuary, Milliman, Inc., and actuarial statistics.
The Statistical Section presents information pertaining to LACERA’s operations on a multi-year basis.
