HomeMy WebLinkAboutItem 07 - Actuarial ServicesMEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: APRIL 6, 2021
SUBJECT: APPROVAL OF CONTRACT FOR ACTUARIAL VALUATIONS AND
REPORTS
RECOMMENDATION: Council to consider approval of a contract to provide actuarial services
and reports required for annual financial audit and reporting requirements
with Gabriel Roeder & Smith Co.
FUNDING SOURCE: Funds are available in the General Fund (Fiscal Services) in an amount
not to exceed. $22,000.
BACKGROUND: Actuarial and reporting services are required to determine the Other Post
Employment Benefits (OPEB) valuation utilized for financial reporting
purposes. The valuations are required by Governmental Accounting
Standards Board (GASB) Statements 74 and 75.
Gabriel Roeder Smith & Co provides this service under a Master
Agreement and Shared Services arrangement with the North Texas
Council of Governments (NTCOG). The estimated cost of the 2021
services is not expected to exceed $22,000.
Staff recommends approval.