Each year, the Actuary for PABF prepares a Valuation Report and GASB 67/68 Actuarial Reports as part of the annual close of the fiscal year. The reports are presented to the Board of Trustees for review and approval. The Valuation Report includes funding status and other related matters to meet the various regulatory requirements. The GASB 67/68 Reports assists PABF to comply with financial reporting requirements and is provided to the Fund’s Auditor as part of the annual audit.