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Summary of Significant Accounting Policies
The Plan is accounted for as a Pension Trust Fund; therefore, it is accounted for in substantially the same manner as a proprietary fund with a capital maintenance measurement focus and the accrual basis of accounting. Employer contributions are recognized in the period in which contributions are
due. Benefits and refunds are recognized when due and payable in accordance with terms of the Plan. Plan assets are valued at fair market value for financial statement purposes.
Separate statements are not issued for the plan.