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<br /> <br /> <br /> CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br /> Agenda Item No.: <br /> Submittal Date: Originating Department: Presented By: <br /> 2-16-2009 Gene Anderson 24• <br /> Council Date: Finance <br /> 3-23-2009 <br /> RECOMMENDED MOTION: <br /> North Central Texas City Manager to negotiate Iland <br /> Move to approve a resolution authorizing an agreement the <br /> Governments for shared GASB 45 actuarial services and authorizing the <br /> execute all necessary documents. <br /> POLICY ISSUE(S): <br /> Fiscal Management <br /> ion of other <br /> The Governmental Accounting Standards Board Statement cie45 s. requires <br /> An employer's substantivetcommitment <br /> post-employment benefits (OPEB) programs offered by <br /> to provide OPEB triggers the standard. The City currently id OPEB so that it may be proper yhe <br /> evaluation will calculate the dollar amount of the City's liability for <br /> order to <br /> reflected on the City balance sheet along with providing other <br /> Council approve <br /> recommending that he <br /> minimize the cost of this study and future studies, the Cy <br /> using a shared actuarial services agreement available through <br /> North Central Texas proposals for actuarial seirvices <br /> Governments (NCTCOG). The NCTCOG coordinate quest or these <br /> Usin the <br /> services <br /> negotiating with several actuarial consultants to obtaiNCTCOGfwas able to obtain fa ogable <br /> prospect of multiple city valuations as a negotiating point, pricing for this service. So far, 101 cities have taken advantage of the NCTCOG shared services agreement <br /> This agreement. The estimated cost of services for the City of Paris is $,7whhch was based on the <br /> amount is within the budgeted amount in the City s 200809 budget ($10,000) <br /> City contracting on its own for these services. It will take approximately 90 days from signing of the <br /> contract until the study is complete. <br /> BOARD/COMMISSION RECOMMENDATION: <br /> NONE <br /> EXHIBITS: <br /> Resolution, Master Agreement, Pricing Estimate, Interlocal Agreement <br /> BUDGET INFO: <br /> ACTION: <br /> ❑ Financial Report E] Minute Order Expense $5,720 <br /> ❑ Department Report ® Resolution Budgeted Amt. $10,000 <br /> ❑ Presentation ❑ Ordinance YTD Actual $0 <br /> ❑ Public Hearing ❑ Other Acct. Name Contract Services <br /> Acct. Number 01-0318-21-00 and 10-0318-81-00 <br /> FISCAL NOTES: <br /> None <br /> REVIEWED AND APPROVED BY: <br /> EMS/IT ®Finance ❑ Fire <br /> ® Administration ® City Clerk ❑ Community Development ❑ <br /> ❑ Municipal Court ® Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities <br /> Revised 2/04/08 <br /> City of Paris <br /> UUU11~, <br />