Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 1986
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The employee contributes 7.044 percent of his gross wages. In fiscal year 1985-86, $3,342 was contributed to TRS in employer contributions.
The state's policy is to fund accrued pension costs. Based on the most recent actuarial valuation reports, both the PERS and the TRS were actuarially sound.
3. INVESTMENTS Investments are units purchased in the state of Montana's Short-Term Investment Pool and are reflected at cost. The June 30, 1986, balance reflects the following: Number of Units Cost Mar...ket Value 3,322 $3,137,570 $3,222,905 4. FEDERAL ADVANCES PAYABLE The program has received $734,173 in the first five years of its operations from the United States Government, Department of Education, to assist the program in its start-up stages. These funds are restricted in their use and may be recalled by the federal government if the reserve maintained by the program exceeds certain requirements. At June 30, 1986, the program's reserve had not exceeded the requirements.
5. RESTRICTED FUND BALANCE This fund balance accounts for all interest earnings on the advances discussed in Note 4 as program regulations require these interest earnings be maintained for claim payments.
What to read after Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 1986?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Office of the Legislative Auditor to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The employee contributes 7.044 percent of his gross wages. In fiscal year 1985-86, $3,342 was contributed to TRS in employer contributions.
The state's policy is to fund accrued pension costs. Based on the most recent actuarial valuation reports, both the PERS and the TRS were actuarially sound.
3. INVESTMENTS Investments are units purchased in the state of Montana's Short-Term Investment Pool and are reflected at cost. The June 30, 1986, balance reflects the following: Number of Units Cost Mar...ket Value 3,322 $3,137,570 $3,222,905 4. FEDERAL ADVANCES PAYABLE The program has received $734,173 in the first five years of its operations from the United States Government, Department of Education, to assist the program in its start-up stages. These funds are restricted in their use and may be recalled by the federal government if the reserve maintained by the program exceeds certain requirements. At June 30, 1986, the program's reserve had not exceeded the requirements.
5. RESTRICTED FUND BALANCE This fund balance accounts for all interest earnings on the advances discussed in Note 4 as program regulations require these interest earnings be maintained for claim payments.
What to read after Guaranteed Student Loan Program, Commissioner of Higher Education Financial Audit for the Fiscal Year Ended .. 1986?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Office of the Legislative Auditor to read onlineMoreLess
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