HomeMy WebLinkAboutCC Resolution 12395 (GASB 45; Bartel Assoc.)RESOLUTION NO. 12395
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN
RAFAEL AUTHORIZING THE CITY MANAGER TO EXECUTE
THE SECOND AMENDMENT TO THE AGREEMENT BETWEEN
THE CITY OF SAN RAFAEL AND BARTEL ASSOCIATES, LLC
TO CONDUCT AN OPEB ACTUARIAL STUDY
WHEREAS, GASB 45 establishes standards for accounting and financial reporting of
"Other Post Employment Benefits" (OPEBs) and requires each public agency to engage a
certified actuary to calculate several actuarial measures estimating the current and future costs
and liabilities of an agency's OPEBs; and
WHEREAS, on March 15, 2007, the City of San Rafael entered into a contract with Bartel
Associates, LLC for actuarial services related to GASB 45 for an amount not to exceed $19,500;
and
WHEREAS, the agreement was amended on September 21, 2007 solely to correct the
date of termination of the original agreement; and
WHEREAS, with the scope of work from the original agreement largely complete, staff
would like to move to the next step of GASB 45 reporting and analysis including the preparation of
a formal valuation report, executive summary, draft GASB 45 financial statement footnote, a study
of how possible OPEB alternatives would affect our results, pre -funding results, and additional
meetings at a cost not to exceed $19,500 for a total contract amount of $39,000.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of San Rafael
hereby approves and authorizes the City Manager to execute the Second Amendment to the
Agreement with Bartel Associates, LLC to conduct an OPEB actuarial study, copy attached
hereto.
I, Jeanne M. Leoncini, Clerk of the City of San Rafael, hereby certify that the foregoing
Resolution was duly and regularly introduced and adopted at a regular meeting of the San Rafael
City Council held on the 3`d day of December, 2007, by the following vote to wit:
AYES: Councilmembers: Cohen, Heller, Miller, Phillips & Mayor Boro
NOES: Councilmembers: None
ABSENT: Councilmembers: None
J ha M. LEONCINI, City Clerk
SECOND AMENDMENT TO AGREEMENT BETWEEN THE CITY OF SAN RAFAEL
AND BARTEL ASSOCIATES, LLC TO CONDUCT AN OPEB ACTUARIAL STUDY
This Amendment to Agreement is made and entered into this 3rd day of DECEMBER, 2007 by
and between the CITY OF SAN RAFAEL (hereinafter "CITY"), and BARTEL ASSOCIATES, LLC (hereinafter
"CONTRACTOR").
RECITALS
WHEREAS, the CITY and CONTRACTOR entered into an Agreement dated May 15, 2007, by which
CONTRACTOR agreed to provide CITY with certain professional services; and,
WHEREAS, the CITY and CONTRACTOR entered into an Amendment to the Agreement dated
September 21, 2007, by which the date of termination of the original contract was corrected; and,
WHEREAS, the CITY wishes to enter into a Second Amendment to the agreement for CONTRACTOR
to provide additional services as described in the attached work letter/fee estimate and as outlined below;
AGREEMENT
NOW, THEREFORE, the parties hereby agree as follows:
CONTRACTOR shall perform additional services as follows:
A. Prepare a Formal Valuation Formal Valuation Report ($2,000), a Draft Financial Statement
Footnote ($1,000), and an Executive Summary ($1,500) for a total cost of up to $4,500.
B. Calculate Benefit Formula Changes and results and certifications associated with pre -funding at a
cost of up to $7,000.
C. Provide educational meetings/information sessions with Councilmembers and/or staff and/or the
public at a cost of up to $8,000 to discuss the results of their analysis and GASB 45
implementation.
2. The total amount of this amendment for additional services shall not exceed $19,500.
3. All other covenants, terms and conditions of the original Agreement shall remain unchanged and in full
force and effect.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day, month and year first
above written.
CITY OF SAN RAFAEL
KEN ORDHOFF, City M4' age
BARTEL ASSOCIATES, LLC
1_s
DOUG PRY , Bartel sociates, LLC
ATTEST:
%luta- A.. -
JEXNNE M. LEONCM, City Clerk
APPR,O- ED AS TO FORM:
61JS GUINAN, %sistant City Attorney