Commissioners Court Meeting

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Meeting Date:	08/22/2022
Actuarial and IBNR reserves report 2022
Submitted for:	Rosie Rodman	Submitted By:	Rosie Rodman
Department:	Administrative Services

Subject:

Discussion and possible action to approve by order a discretionary exemption for professional services in accordance with the Texas Local Government Code, §262.024 (4) Professional Services for actuarial analysis of the post employment health plan in accordance with GASB (Governmental Accounting Standards Board) 75 and calculating IBNR (Incurred but Not Reported) reserves for the County's Medical, Rx and Dental plans for fiscal years ending September 30, 2022 and September 30, 2023 from Lewis and Ellis Actuaries and Consultants in an amount not to exceed $16,600.00 and to further authorize the County Judge to sign all relevant documents and any other matters incident thereto. [Account #6300-1090-001-432001 (Professional Services)]

Issue: Governmental Accounting Report is needed by the Auditor's office on a yearly basis.

Solution: Approval by the Court to accept Lewis & Ellis as actuaries to provide report will enable Risk Management to turn in report on a timely basis.

Result: Report will be submitted to the court and the auditor's office by the end of this year.

Background:

Every year Risk Management has always solicited Actuary companies to work on the GASB 75 and IBNR reporting to supply to our Auditor's office.

Previous Court Action:

Fiscal Impact

Budget Account Number:	6300
Funding Source:	432001
Balance:	7,000.00
Financial Impact:
Professional Services for the GASB 75 and the IBNR reporting.

Attachments
Actuarial