Public Employees' Retirement Board, Department of Administration, Financial Audit for the Fiscal Year Ended .. 2005 Nov
Public Employees' Retirement Board, Department of Administration, Financial Audit for the Fiscal Year Ended .. 2005 Nov
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Five draws were taken in the total amount of $1,498,000. Interest repayments began immediately following the draws. Princi- pal repayments began August 15, 2003, the year following the DCRP implemen- tation date. The loan was renegotiated as a single sum in fiscal year 2004 to be re- paid over a period of 15 years. The inter- est rate is variable and changes every February, impacting the interest due on the outstanding principal balance. The fi- nancial statements report the long-term payable i...n Advances from Primary Gov- ernment for the amount $1,380,195. The additional $10,000 is reported in Due to Primary Government as a current pay- able.
The PERS-DCRP previously reported an inter-entity loan in the amount of $114,000 that was originated on August 18, 2003. The loan was paid off ahead of schedule in December 2004.
Debt service requirements (principal and interest) for the defined contribution plan are explained in this chart: Schedule of Debt Repayment INTERCAP Loan Fiscal Year Ended Rate* Principal Interest Total 2006 3.80% $ 10,000 $ 52,732 $ 62,732 2007 3.80% 20,000 52,256 72,256 2008 3,80% 30,000 51,260 81,260 2009 3.80% 40,000 50,303 90,303 2010 3.80% 50,000 48,548 98,548 2011-2018 3.80% 1,240,195 $ 1,390,195 244,566 1,484,761 $ 1,889,860 * Interest rate is variable.
What to read after Public Employees' Retirement Board, Department of Administration, Financial Audit for the Fiscal Year Ended .. 2005 Nov?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Legislative Audit Division to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Five draws were taken in the total amount of $1,498,000. Interest repayments began immediately following the draws. Princi- pal repayments began August 15, 2003, the year following the DCRP implemen- tation date. The loan was renegotiated as a single sum in fiscal year 2004 to be re- paid over a period of 15 years. The inter- est rate is variable and changes every February, impacting the interest due on the outstanding principal balance. The fi- nancial statements report the long-term payable i...n Advances from Primary Gov- ernment for the amount $1,380,195. The additional $10,000 is reported in Due to Primary Government as a current pay- able.
The PERS-DCRP previously reported an inter-entity loan in the amount of $114,000 that was originated on August 18, 2003. The loan was paid off ahead of schedule in December 2004.
Debt service requirements (principal and interest) for the defined contribution plan are explained in this chart: Schedule of Debt Repayment INTERCAP Loan Fiscal Year Ended Rate* Principal Interest Total 2006 3.80% $ 10,000 $ 52,732 $ 62,732 2007 3.80% 20,000 52,256 72,256 2008 3,80% 30,000 51,260 81,260 2009 3.80% 40,000 50,303 90,303 2010 3.80% 50,000 48,548 98,548 2011-2018 3.80% 1,240,195 $ 1,390,195 244,566 1,484,761 $ 1,889,860 * Interest rate is variable.
What to read after Public Employees' Retirement Board, Department of Administration, Financial Audit for the Fiscal Year Ended .. 2005 Nov?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Legislature. Legislative Audit Division to read onlineMoreLess
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