Department of Administration, Public Employees' Retirement Division Financial-Compliance Audit for the Two Fiscal Years Ended .. 1988

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Goods ordered, but not received as of the fiscal year-end, may be accrued if the purchase order was issued in the fiscal year in which the anticipated expense is to be accrued.
14 Vacation and Sick Leave Division employees accumulate both vacation and sick leave. Employees are paid for 100 percent of unused vacation and 25 percent of unused sick leave credits upon termination. Expenditures for compensated absences currently are absorbed in the annual operating costs of the division.
Valuation o
...f Investments Investments are stated at cost. Federal and corporate securities included in the division's investments are increased by the amount of premiums and decreased by unamortized bond discounts.
The market value of the investments were as follows: Retirement System PERS Municipal Police Game Wardens ' Sheriffs' Judges ' Highway Patrol Firefighters' Unified Volunteer Firefighters' Social Security Market Value June 30. 1987 $681,861,473 23,180,204 8.248,497 23,139,883 9,386,058 18,867,236 20,212,296 4,698,051 335,700 June 30.


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