GERS Audited Financial Statements FY2017
GOVERNMENT EMPLOYEES RETIREMENT SYSTEM OF THE VIRGIN ISLANDS ___________________ FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION Year Ended September 30, 2017 TABLE OF CONTENTS DESCRIPTION PAGE Independent Auditor’s Report 1 Management’s Discussion and Analysis 4-9 Basic Financial Statements: Statement of Fiduciary Net Position 10 Statement of Changes in Fiduciary Net Position 11 Notes to Financial Statements 12-29 Required Supplementary Information: Schedule of Changes in the Employers’ Net Pension Liability 30 Notes Schedule of Changes in the Employers’ Net Pension Liability 31 Schedule of Employer Contributions – Last Ten Fiscal Years 32 Notes to Schedule of Employer Contributions 33 - 2 - Basis for Qualified Opinion As discussed in Note 10, certain investment properties held by the System sustained physical damages as a result of the hurricanes, which impacted the Territory in September 2017. These properties are reported in the financial statements of the System at their appraised values. …
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