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CITY OF SANTA ANA EXHIBIT 1 - SCOPE OF SERVICES Consultant shall perform services as set forth below. GASB Statement No. 75 Report 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 Annual Comprehensive Financial Report (ACFR) for the Fiscal Year ending June 30, 2026, with an option to extend the agreement for up to five(5) additional one-year terms. The 2025 ACFR can be found on the City's website at https://www.santa-ana.org/financial- reports/. The City does not participate in the CalPERS California Employers' Retiree Benefits Trust. However, the procedures used must comply with CaIPERS' 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 total 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 ACFR for the fiscal year ending June 30, 2026 and each of the following fiscal years if extensions are granted.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: a) Executive Summary of Results b) Summary of actuarial assumptions & plan provisions c) Information necessary to prepare the City's ACFR (e.g. Changes in Total OPEB Liability, Sensitivity of Total OPEB Liability,OPEB Expense, Deferred Outflows/Inflows balances,journal entries, etc.) d) Actuarial Certification iii. Assistance in implementing any new GASB statements and other financial pronouncements related to OPEB and providing ongoing professional consultation. iv. The actuarial valuation report and all other required information to report in the ACFR should be provided no later than August 15 of each year. B. Completion of the study shall require the following at minimum: i. GASB 75 Actuarial Valuation Report for each fiscal year end. ii. Meeting with City staff to determine an appropriate actuarial cost method and selection of data. iii. Attending one or more meetings (in-person or remotely)with the Finance staff and possibly with an external auditor to discuss the report. City of Santa Ana RFP No.26-011 Page 13 of 30