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C. Other Post Employment Benefits (OPEB) Cost Reports and Employer Contributions <br /> (1) Employer shall provide to the Board an OPEB cost report on the basis of the <br /> actuarial assumptions and rnethods prescribed by the Board. Such report shall be for <br /> the Board's use in financial reporting, and shall be prepared at least as often as the <br /> minimum frequency required by GASB 43. This OPEB cost report may be prepared as <br /> an actuarial valuation report or, if the employer is qualified under GASB 45 and 57, may <br /> be prepared as an Alternative Measurement Method (AMM) report. <br /> (a) Unless qualified under GASB 45 and 57 to provide an AMM report, <br /> Employer shall provide to the Board an actuarial valuation report. Such <br /> report shall be for the Board's use in financial reporting, and shall be <br /> prepared at least as often as the minimum frequency required by GASB <br /> 43 and 57, arid shall be: <br /> 1) prepared and signed by a Fellow or Associate of the Society of <br /> Actuaries who is also a Member of the American Academy of <br /> Actuaries or a person with equivalent qualifications acceptable to the <br /> Board; <br /> 2) prepared in accordance with generally accepted actuarial practice and <br /> GASB 43. 45 and 57; and, <br /> 3) provided to the Board prior to the Board's acceptance of contributions <br /> for the valuation period or as otherwise required by the Board. <br /> (b) If qualified under GASB 45 and 57, Employer may provide to the Board an <br /> AMM report. Such report shall be for the Board's use in financial <br /> reporting, shall be prepared at least as often as the minimum frequency <br /> required by GASB 43 and 57, and shall be: <br /> 1) affirmed by Employer's external auditor, or by a Fellow or Associate <br /> of the Society of Actuaries who is also a Member of the American <br /> Academy of Actuaries or a person with equivalent qualifications <br /> acceptable to the Board, to be consistent with the AMM process <br /> described in GASB 45; <br /> 2) prepared in accordance with GASB 43, 45, and 57; and, <br /> 3) provided to the Board prior to the Board's acceptance of <br /> contributions for the valuation period or as otherwise required by <br /> the Board. <br /> (2) The Board may reject any OPEB cost report submitted to it, but shall not <br /> unreasonably do so. In the event that the Board determines, in its sole discretion, that <br /> Rev 6/23/2010 3 <br />