STATE OF RHODE ISLAND
EMPLOYEES’ RETIREMENT SYSTEM
FISCAL YEAR ENDED JUNE 30, 2002
Ernest A. Almonte, CPA, CFE
Auditor General
State of Rhode Island and Providence Plantations
General Assembly
Office of the Auditor General
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June 20, 2003
JOINT COMMITTEE ON LEGISLATIVE SERVICES:
SPEAKER William J. Murphy, Chairman
Senator William V. Irons
Senator Dennis L. Algiere
Representative Gordon D. Fox
Representative Robert A. Watson
We have completed our audit of the financial statements of the State of Rhode Island and
Providence Plantations Employees' Retirement System for the fiscal year ended June 30, 2002 in
accordance with Rhode Island General Laws, Chapters 22-13 and 35-7.
Our report is contained herein as outlined in the Table of Contents.
Sincerely,
Ernest A. Almonte, CPA, CFE
Auditor General
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EMPLOYEES' RETIREMENT SYSTEM OF RHODE ISLAND
FISCAL YEAR ENDED JUNE 30, 2002
TABLE OF CONTENTS
PAGE
I.
INDEPENDENT AUDITOR'S REPORT........................................................................1
II. MANAGEMENT’S DISCUSSION AND ANALYSIS .................................................. 3
III. BASIC FINANCIAL STATEMENTS
Statements of Plan Net Assets .............................................................................................8
Statements of Changes in Plan Net Assets ......................................................................... 9
Notes to Financial Statements............................................................................................10
IV.
REQUIRED SUPPLEMENTARY INFORMATION
Schedules of Funding Progress ..........................................................................................25
Schedules of Contributions From the Employers and Other Contributing Entity.............26
Notes to Required