BARTEL ASSOCIATES, LLC N-2020-095

Home Browse Search

EXHIBIT A SCOPE OF SERVICES A. The objective of this review is to provide basis for the recognition of Other Post- Employment Benefits (OPEB) costs as prescribed in GASB Statement 75 and to provide relevant information about the actuarial accrued liabilities as presented in the City's Comprehensive Annual Financial Report (CAFR) for the Fiscal Years ending June 30, 2020, through June 30, 2023. The 2019 CAFR can be found on the City's website at http://www.ci.santa- ana.ca.us/finance/cafr/default.asp. The City does not participate in the Ca1PERS California Employers' Retiree Benefits Trust. However, the procedures used must comply with Ca1PERS' Actuarial Assumptions and Methods required for participation in the California Employers' Retiree Benefits Trust (CERBT). Specifically, the selected firm shall provide: i. A determination of actuarial valuation for net OPEB liability by bargaining unit and roll - forward data to comply with all of the requirements of applicable GASB Statement 75. ii. All necessary information for inclusion in the City's audited financial statements for the Fiscal Years ending June 30, 2020 through June 30, 2023. This includes drafting it its entirety the note to the financial statements and all of the required supplementary information in accordance with GASB Statement 75 for each fiscal year. Some of the items to be presented in the valuation report include but are not limited to: o Executive Summary of Results o Summary of actuarial assumptions o Summary of plan provisions o Accounting information (e.g. journal entries, OPEB Expense, etc.) o Actuarial Certification iii. Analysis of how establishing a trust or equivalent arrangement would affect the interest rate assumption, including timing considerations and varying investment options. iv. Assistance in implementing any new GASB statements and other financial pronouncements related to OPEB and providing ongoing professional consultation. V. The actuarial valuation report and all other required information to report in the financial statements should be provided no later than July 31 of each year. B. Completion of the study shall require the following at minimum: i. GASB 75 Actuarial Report for each fiscal year end. ii. Meeting with City staff to determine an appropriate actuarial cost method and selection of data. iii. Preparing a written report in a format acceptable to a prefunding trust plan summarizing the conclusions and recommendations and documenting the analysis. iv. Attending one or more meetings (in -person or conference call) with the Finance staff and possibly with an external auditor to discuss the report. #41547v2