PERAC Memo #16 - 2019: Cash Book Submissions

Cash Book Submissions

Summary

PERAC establishes a dedicated email address for monthly Cash Book submissions: percashbooks@per.state.ma.us. Boards that have already submitted 2019 Cash Books should not resubmit, but all remaining 2019 Cash Books should go to this address. PERAC reiterates that complete monthly Cash Book packages — including Year-to-Date Trial Balance, Monthly Cash Receipts, Monthly Cash Disbursements, Monthly Adjusting Journal Entries, and Monthly General Ledger — are due within four weeks of month-end. Timely submission is required for PERAC to perform monthly accounting/investment analysis and calculate each system's annual rate of return. All other communication with investment analysts Sarita Yee and Veronica Colon should continue via their individual email addresses.

Full Text

M E M O R A N D U M

TO: All Retirement Boards

FROM: John W. Parsons, Esq., Executive Director

RE: Cash Book Submissions

DATE: April 30, 2019

As you know, 840 CMR 4.00 establishes the methods of accounting for boards as described in M.G.L. c. 7, s. 50 and M.G.L. c. 32, s. 21. For a more efficient and formal process of submitting monthly Cash Books to PERAC, we have created the following e-mail address for this purpose. Please begin submitting your monthly Cash Books to PERAC at percashbooks@per.state.ma.us. If you have already begun submitting 2019 Cash Books we ask that you do not re-submit them to the above e-mail address, however, the remaining 2019 Cash Books should be sent to this address. This e-mail address has been created solely for the submission of Cash Books. All other communication will remain the same with your investment analyst, either Sarita Yee or Veronica Colon, by using their individual e-mail addresses: syee@per.state.ma.us and vecolon@per.state.ma.us.

Administrative Reminders

I would like to remind all Board Administrators that a complete Cash Book package must be provided to PERAC on a monthly basis. Each month, the Board Administrator must prepare a packet which consists of the items described below:

Year-to-Date Trial Balance (TB)
Monthly Cash Receipts (CR)
Monthly Cash Disbursements (CD)
Monthly Adjusting Journal Entries (AJE)
Monthly General Ledger (GL)

Monthly Cash Books are due at PERAC within four (4) weeks of the close of the month. Timely submissions are not only required for PERAC's Investment Unit but are necessary to determine the Rate of Return on Investments that is annually published for each retirement system. PERAC is unable to perform the monthly standard accounting/investment analysis with an incomplete Cash Book package.

Please refer to the following Regulations and Memorandums on PERAC's website for assistance:

PERAC Regulations 840 CMR 4.00
PERAC Memo #24/2014
PERAC Memo #15/2015