HomeMy WebLinkAboutResolutions - No. 2020-197RESOLUTION NO. 2020-197
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE
CITY MANAGER TO EXECUTE THE PROFESSIONAL SERVICES
AGREEMENT WITH NORTHERN CONSULTING ACTUARIES, OF
MINNEAPOLIS, MINNESOTA, FOR OPEB VALUATION STUDY
SERVICES
WHEREAS, the City has used Northern Consulting Actuaries since June 2016 to provide a
report that would include information on the actuarial value of certain post -employment benefits
(OPEB liability) and meet the requirements of the Government Accounting Standards Board (GASB)
16 and GASB 45/75 statements including the Annual Required Contribution (ARC), annual OPEB
Cost, and Reconciliation of the Net OPEB Obligation; and
WHEREAS, Northern Consulting Actuaries has performed these tasks professionally, timely,
and accurately. The current contract expired with the completion of the most -recent actuarial report
but has an optional two-year extension; and
WHEREAS, staff recommends executing the extension for the required services to complete
the calculation for the City's financial statements and to continue funding these benefits programs.
NOW, THEREFORE, BE IT RESOLVED that the Lodi City Council does hereby authorize
the City Manager to execute the two-year extension to the Professional Service Agreement with
Northern Consulting Actuaries, of Minneapolis, Minnesota, for OPEB Valuation Study Service in an
amount not to exceed $20,000.
Dated: September 2, 2020
I hereby certify that Resolution No. 2020-197 was passed and adopted by the City Council of
the City of Lodi in a regular meeting held September 2, 2020 by the following vote:
AYES: COUNCIL MEMBERS — Chandler, Mounce, Nakanishi, and Mayor Kuehne
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
NNI*E�UMIR
City Clerk
2020-197