HomeMy WebLinkAboutResolution BPW 01-18-23-23; Actuarial Services & Support, LLC; Annual Accounting Valuation & ReportiRESOLUTION NO. BPW 01-18-23-23
RESOLUTION OF THE CITY OF CARMEL BOARD OF PUBLIC WORKS AND SAFETY
ACKNOWLEDGING AGREEMENT BETWEEN CITY AND VENDOR
WHEREAS, pursuant to Indiana Code 36-1-4-7, the City of Carmel, Indiana (“City”), is authorized to enter
into contracts; and
WHEREAS, pursuant to Indiana Code 36-4-5-3, the City’smayor may enter into contracts on behalf ofthe
City; and
WHEREAS, pursuant to his authority under Indiana law, the City’smayor, the Honorable James C. Brainard,
has caused to be signed the Agreement attached hereto (the “Contract”); and
WHEREAS, Mayor Brainard now wishes to present the contract to the City’sBoard of Public Works and
Safety for it to be publicly acknowledged, filed in the Clerk’sOffice, and made available to the public for review.
NOW, THEREFORE, BE IT RESOLVED by the City of Carmel Board of Public Works and Safety as
follows:
1. The foregoing Recitals are incorporated herein by this reference.
2. The receipt of the Contract is hereby acknowledged.
3. The Contract shall be promptly filed in the office of the Clerk and thereafter made available to the public
for review.
SO RESOLVED this day of , 2023.
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
BY:
James Brainard, Presiding Officer
Date:
Mary Ann Burke, Member
Date:
Lori S. Watson, Member
Date:
ATTEST:
Sue Wolfgang, Clerk
Date:
S:\\EBass\\MyDocuments\\BPW-Resolutions\\2023\\Acknowledge Agreement ActuarialServices & Support LLC.docx1/10/20239:58AM
18th January
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Not Present
1/19/2023
1/19/2023
1/19/2023
Actuarial Services
Support LLC i"s
Engagement Letter
Thank you for your interest in my professional services in connection with the City of Carmel Municipal
Police Officers' and Firefighters' Pension Funds (not administered by PERF), which are identified
separately in Indiana statute as the 1925 Police Pension Fund and the 1937 Firefighters' Pension Fund. I
value my partnership with you and your advisors. In order to minimize any possible misunderstandings as
to the scope of the work that you want me to do for you and the payment for such services, this
Engagement Letter, which summarizes the scope, fee, and payment terms beginning with the 2022
Plan/Fiscal Year ending on 12/31/2022 sets forth our understanding regarding the assignment.
Scope of Annual accounting valuation and reporting services pursuant to GASB Statement No.
Core Services 67 (Plan Financials) and No. 68 (Employer Financials) for the 1925 Police Pension
Fund and the 1937 Firefighters' Pension Fund
Plan/Fiscal Year Starting with the 2022 Plan/Fiscal Year ending 12/31/2022 (actuarial valuation year)
Fees for Police Fire Total Description
Core Services
will not increase
for at least the first
5fiscol years
2,475 2,475
1,475
4,950 Actuarial valuation year; required once every two
years; last actuarial valuation on 12/31/2020
1,475 2,950 Interim year calculations (assumes no update to
through 12131126) census and assumptions); last interim on 12/31/2021
Payment Terms A separate invoice for each Pension Fund will be e-mailed upon delivery of annual
GASB accounting valuation reports and is due upon receipt
This engagement letter will remain in effect until it is either replaced with an updated engagement or it is
terminated in writing by either party for any reason prior to the start of any services for any Plan/Fiscal
Year. The total aggregate liability that may arise from professional acts, errors or omissions shall not
exceed total fees for the specific services rendered. If you agree to all the terms stated in this
Engagement Letter, please indicate your acceptance by executing this letter below and returning a
signed copy to me.
Actuarial Services & Support LLC
By:
Name: John C. Benge, ASA, MAAA, EA, FCA, MSEA
Title: Managing Member
ACCEPTED AND AGREED
Authorized Representative for the City of Carmel
By: a'«w
Name: Jim Brainard
Title: Mavor
Date: 12/20/2022
Date: 1/5/2023
aciusen,.com
Louis%ille, KY & Cleveland, 01-f
L (877 632-8257 (8-PR0-D13-\ ,1L5)
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