State & Local Government Finance Forms

Planned Form Changes for 2012 and 2013 F-11, F-12, and F-12(S)

New burden hour estimate: 2.5 hours.

2012/2013 Form-11/Form-12 Recommendations – Item code Additions
Item Code	Description	Comments
NEW	DROP members	Add just the number of payees.
NEW	Mutual Funds	The Federal Reserve would like to see this as a separate category.
NEW	Hedge Funds	The Federal Reserve would like to see this as a separate category.
NEW	Actuarial valuation date	Actuarial valuation date differs from CAFR date and also needs to include the day - not just the month and year.
NEW	Active and inactive AAL	Add two extra fields to differentiate between active and inactive AAL.
NEW	Employer and member portion of normal cost	Add extra field to differentiate between employer portion and member portion of normal cost.
NEW	Percent contributed of ARC	Add a field for "percent contributed" of the ARC.
NEW	Solvency Test Questions	Add eight new fields to include the solvency test.

2012/2013 Form-11/Form-12 Recommendations - Item code Modifications
Item Code	Description	Comments
Z02	Inactive members	Add an extra field to differentiate between "vested" and "not vested."
Z91/Z96	Net gains/losses on investments in market/fair value	Break out realized and unrealized gains.
Z68	All other short-term investments	Break out into 1) repurchase agreements; 2) commercial and finance company paper and bankers acceptances; 3) money market mutual funds; 4) investments held in trust funds, including shares of collective investment funds, short-term investment funds and/or pools, and employee benefit trust funds.
X33	Federal agency securities	Combine Federal agency securities with Federally-sponsored agency securities and bonds.
Z62	Federally-sponsored agencies	Combine Federal agency securities with Federally-sponsored agency securities and bonds; pull Sallie Mae securities out and report it with Corporate bonds.
Z63	Corporate bonds, other	Move Sallie Mae securities into this category; explicitly include asset-backed securities, commercial mortgage-backed securities, corporate collateralized mortgage-backed securities, and private debt to Z63 which currently includes debentures, convertible bonds, and railroad equipment certificates.
Z78	Corporate stocks	Add private equity, venture capital, leveraged buy-outs, and investments in REITs; all of which would be pulled from Other investments (X47).
Z70	Foreign and international securities	Break out into two new categories: Corporate foreign stocks and Corporate foreign bonds.
X46	Real property	Keep as is but provide a custom tab of the Z81 total without X46 for the Federal Reserve.
X47	Other investments	Move private equity, venture capital, leveraged buy-outs, and investments in REITs into Corporate stocks (Z78); also add State and local government securities (X35); add everything from Other securities (Z83) except for Mutual funds; add foreign currency, derivatives, guaranteed investment contracts, annuities, and life insurance.
Z81	Total cash and security holdings of public employee retirement system	Keep as is but provide a custom tab of Z81 total without real property (X46) for the Federal Reserve
V12	Investment Rate of Return	Add "discount rate" to the terminology - not just "investment rate of return."
2012/2013 Form-11/Form-12 Recommendations - Item code Deletions
Item Code	Description		Comments
X35	State and local government securities		Move into Other investments (X47).