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Meeting Date:	08/08/2016
Actuarial Report GASB
Submitted for:	Rosie Rodman	Submitted By:	Rosie Rodman
Department:	Administrative Services

Subject:

Discussion and possible action to authorize a service agreement with the Lewis & Ellis, Inc., for the mandated Governmental Accounting Standard Board (GASB) 45 for the accounting and financial reporting for the Retiree Fund Program at a cost not to exceed Ten Thousand Dollars ($10,000), and to grant an exemption from competitive proposals, pursuant to section 262.024 Discretionary Exemption, subsection (A)(4) Professional Service, Texas Local Government Code, and to authorize the County Judge to execute all relevant documents; and any other matters incident thereto. [Account #863-0105-6022 (Professional Services)]

Issue: This annual actuarial report needs to be done to comply with the Governmental Accounting Standard Board (GASB 45).

Solution: Approval of the agreement will initiate process.

Result: Early completion of this report will assist budget officers in the budget process.

Background:

Government Accounting Standards Board (GASB 45) mandates government entities account for "Other Post-Employment Benefits" (OPEB). A preliminary report will be issued at the end of August '2016 and another at the end of September 2016.

Previous Court Action:

Agreement has been approved and report has been turned in for accounting purposes.

Fiscal Impact

Budget Account Number:	863-0105
Funding Source:	6022
Balance:	18,000
Financial Impact:
Account Professional Services 863-0105-6022

Attachments
Engagement Agreement