GASB & Accounting – Firefly Admin Inc.

LOSAP Investment Policy

September 29, 2023

One of the essential documents we require for our role as third-party administrator is a plan document. Each LOSAP should have a detailed plan document that outlines the benefits a participating volunteer firefighter can earn for their service. It is a vitally important document. Without it, confusion and misinformation can quickly set in regarding benefits…

GASB & LOSAP – PART 4 OF 4

November 4, 2021

This post concludes our look at the Government Accounting Standards Board (GASB) and how it has impact the reporting of LOSAP on governmental financial statements. First, we outlined just what the GASB is, and how the Office of the State Comptroller plays a roll in this, and just how the finances of LOSAP work in…

GASB & LOSAP – PART 3 OF 4

October 26, 2021

Today we will take a closer look at GASB Statement 84. For the first two parts of this look at GASB & LOSAP, click here. Here is what you need to know about GASB Statement 84:

GASB & LOSAP – PART 2 OF 4

October 5, 2021

There are currently two GASB pronouncements that have a significant bearing on the reporting of LOSAP on the municipal sponsors financial statements. In this second part of our look at GASB and LOSAP, we’ll highlight GASB Statement 73. Notes about GASB Statement 73: Next we will highlight GASB Statement 84.

GASB & LOSAP – PART 1 OF 4

September 28, 2021

Here in New York, the implementation of GASB Statement No. 84 has created some confusion! We thought it might be helpful to unpack the relationship between LOSAP and the GASB over a series of articles. We’ve consolidated this information into a newsletter – if you would like a copy, please contact our office. Since the…

Category: GASB & Accounting

LOSAP Investment Policy

GASB & LOSAP – PART 4 OF 4

GASB & LOSAP – PART 3 OF 4

GASB & LOSAP – PART 2 OF 4

GASB & LOSAP – PART 1 OF 4