HomeMy WebLinkAboutResolutions - No. 2021-326RESOLUTION NO. 2021-326
A RESOLUTION OF THE LODI CITY COUNCIL AUTHORIZING THE
CITY MANAGER TO EXECUTE A ONE-YEAR OPTIONAL EXTENSION TO 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; and
WHEREAS, staff recommends executing the final one-year extension for these 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 optional one-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; and
BE IT FURTHER RESOLVED, pursuant to Section 6.3q of the City Council Protocol
Manual (Res. No. 2019-223), the City Attorney is hereby authorized to make minor revisions to
the above -referenced document(s) that do not alter the compensation or term, and to make
clerical corrections as necessary.
Dated: December 1, 2021
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I hereby certify that Resolution No. 2021-326 was passed and adopted by the City Council
of the City of Lodi in a regular meeting held on December 1, 2021 by the following vote:
AYES: COUNCIL MEMBERS — Chandler, Hothi, Khan, Kuehne, and
Mayor Nakanishi
NOES: COUNCIL MEMBERS — None
ABSENT: COUNCIL MEMBERS — None
ABSTAIN: COUNCIL MEMBERS — None
JEN�, � /I , /4��
EUMIR
City Clerk
2021-326