Financial Audit Completed October 9

Every year, LACERS has an independent third-party accounting firm assess the accuracy and completeness of its financial statements. The audit for fiscal year 2006-07, filed on October 9th by Brown-Armstrong Accountancy Corporation, found that LACERS fairly stated and presented its financial reports in conformity with generally accepted accounting principles. The audit is conducted to minimize the possibility of material misstatements and ensure that LACERS fairly represents itself to interested parties, including its Members.