Compensated Absences Employees earn vacation leave at varying rates in accordance with District policy. Vacation is payable upon termination. Employees earn sick leave at a rate of 12 days per year and may accumulate an unlimited sick leave balance. Under the provisions of Chapter 28A.400.210 RCW, sick leave accumulated by District employees is reimbursed at death or retirement at the rate of 1 day for each 4 days of accrued leave, limited to 180 accrued days. This chapter also provides for an annual buy-back of an amount up to the maximum annual accumulations of 12 days. For buy-back purposes, employees may accumulate such leave to a maximum of 192 days, including annual accumulation, as of December 31 of each year. The balance reported in the statement of net position as of August 31, 20__, represents the aggregate amount of vacation and sick leave payable for all eligible employees of the District. {See note 12 for alternate language if the District participates in a Compensated Absences Pool} Other Accrued Liabilities These accounts consist of accrued wages and accrued employee benefits. Long Term Debt See Note 5 – Other Liabilities and Credits {No sample text provided. This section can be used to describe other material asset categories not covered in the notes} Deferred Outflows and Deferred Inflows {No sample text provided. This section can be used to describe deferred outflow of resources and deferred inflow of resources, see the manual or GASB Statement 63 for more information} Note 2: DEPOSITS AND INVESTMENTS All of the bank balances are insured by the Federal Depository Insurance Corporation District’s (FDIC) or by collateral held in a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission (PDPC). Statutes authorize the District to invest in (1) securities, certificates, notes, bonds, short-term securities, or other obligations of the United States, and (2) deposits in any state bank or trust company, national banking association, stock savings bank, mutual savings bank, savings and loan association, and any branch bank engaged in banking in the state in accordance with RCW 30.04.300 if the institution has been approved by the Public Deposit Protection Commission to hold public deposits and has segregated eligible collateral having a value of not less than its maximum liability. As of August 31, 20__, the District had the following investments: Investment Maturity Fair Value Local Government Investment Pool County Investment Pool
Compensated Absences Employees earn vacation leave at varying rates in accordance with District policy. Vacation is payable upon termination. Employees earn sick leave at a rate of 12 days per year and may accumulate an unlimited sick leave balance. Under the provisions of Chapter 28A.400.210 RCW, sick leave accumulated by District employees is reimbursed at death or retirement at the rate of 1 day for each 4 days of accrued leave, limited to 180 accrued days. This chapter also provides for an annual buy-back of an amount up to the maximum annual accumulations of 12 days. For buy-back purposes, employees may accumulate such leave to a maximum of 192 days, including annual accumulation, as of December 31 of each year. The balance reported in the statement of net position as of August 31, 20__, represents the aggregate amount of vacation and sick leave payable for all eligible employees of the District. {See note 12 for alternate language if the District participates in a Compensated Absences Pool} Other Accrued Liabilities These accounts consist of accrued wages and accrued employee benefits. Long Term Debt – See Note 5 Other Liabilities and Credits {No sample text provided. This section can be used to describe other material asset categories not covered in the notes} Deferred Outflows and Deferred Inflows {No sample text provided. This section can be used to describe deferred outflow of resources and deferred inflow of resources, see the manual or GASB Statement 63 for more information} Note 2: DEPOSITS AND INVESTMENTS All of the District’s bank balances are insured by the Federal Depository Insurance Corporation (FDIC) or by collateral held in a multiple financial institution collateral pool administered by the Washington Public Deposit Protection Commission (PDPC). Statutes authorize the District to invest in (1) securities, certificates, notes, bonds, short-term securities, or other obligations of the United States, and (2) deposits in any state bank or trust company, national banking association, stock savings bank, mutual savings bank, savings and loan association, and any branch bank engaged in banking in the state in accordance with RCW 30.04.300 if the institution has been approved by the Public Deposit Protection Commission to hold public deposits and has segregated eligible collateral having a value of not less than its maximum liability. As of August 31, 20__, the District had the following investments: Investment Maturity Fair Value Local Government Investment Pool County Investment Pool
ESD%20Notes.docx