Jun 30, 2018BoardMeeting
BoardAdams County Board of Cooperative Educational Services Financial Statements
The Adams County Board of Cooperative Educational Services (BOCES) financial statements for the year ending June 30, 2018, show a decrease in net position due to GASB 68 and GASB 75 reporting. The BOCES implemented GASB Statement No. 75, requiring the recording of a proportionate share of PERA's unfunded OPEB liability. Adams 12 Five Star Schools withdrew from the BOCES, impacting the remaining members financially. The General Fund reported an increase in total fund balance. The BOCES' liabilities exceeded assets, resulting in a deficit in net position.