Requested Action (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
Request approval of a recommended proposal - Finance, #20RFP110320C-CG, GASB 75 Actuarial Consulting Services in the amount of $25,000.00 with Segal Consulting, LLC (Atlanta, GA) to provide GASB 75 actuarial consulting services. Effective dates: Upon Board approval through December 31, 2021, with four renewal options. These services are only required every other year to meet GASB reporting standards. (APPROVED)
body
Requirement for Board Action (Cite specific Board policy, statute or code requirement)
In accordance with Purchasing Code Section 102-374 and 102-375, all competitive sealed proposals shall be forwarded to the Board of Commissioners for approval.
Strategic Priority Area related to this item (If yes, note strategic priority area below)
Open and Responsible Government
Commission Districts Affected
All Districts ☒
District 1 ☐
District 2 ☐
District 3 ☐
District 4 ☐
District 5 ☐
District 6 ☐
Is this a purchasing item?
Yes
Summary & Background (First sentence includes Agency recommendation. Provide an executive summary of the action that gives an overview of the relevant details for the item.)
Scope of Work: This contract will provide actuarial services in order to comply with the Governmental Accounting Standards Board which oversees accounting principles applicable to all state and local governments in the United States. Standard No. 75 requires a biennial actuarial analysis of Fulton County’s offer of health care and life insurance to eligible retired employees. In order to ensure the County continues to receive unmodified audit opinions, the County would disclose this updated actuarially determined information in the annual audited financial statements
Community Impact: None
Department Recommendation: Recommend approval
Project Implications: This service ensures compliance with Governmental Accounting Standards.
Community Issues/Concerns: None
Department Issues/Concerns: None
Contract & Compliance Information (Provide Contractor and Subcontractor details.)
Contract Value: $25,000.00
Prime Vendor: Segal Consulting
Prime Status: Non-Minority
Location: Atlanta, GA
County: Fulton County
Prime Value: $25,000.00 or 100.00%
Total Contract Value: $25,000.00 or 100.00%
Total M/FBE Value: $-0-
Exhibits Attached (Provide copies of originals, number exhibits consecutively, and label all exhibits in the upper right corner.)
Exhibit 1: Evaluation Committee Recommendation
Exhibit 2: Contractor Performance Report
Contact Information (Type Name, Title, Agency and Phone)
title
Hakeem Oshikoya, Director, Finance Department, 404-612-7641
Contract Attached
title
No
Previous Contracts
title
No
Total Contract Value
|
Original Approved Amount: |
$0.00 |
|
Previous Adjustments: |
$0.00 |
|
This Request: |
$25,000 |
|
TOTAL: |
$25,000 |
Grant Information Summary
|
Amount Requested: |
Click here to enter text. |
☐ |
Cash |
|
Match Required: |
Click here to enter text. |
☐ |
In-Kind |
|
Start Date: |
Click here to enter text. |
☐ |
Approval to Award |
|
End Date: |
Click here to enter text. |
☐ |
Apply & Accept |
|
Match Account $: |
Click here to enter text. |
|
|
Fiscal Impact / Funding Source
Funding Line 1:
100-999-S200-1226 General fund, Non-agency, Audit-special
Funding Line 2:
Click here to enter text.
Funding Line 3:
Click here to enter text.
Funding Line 4:
Click here to enter text.
Funding Line 5:
Click here to enter text.
|
Key Contract Terms |
|
Start Date: Upon approval |
End Date: 12/31/2021 |
|
Cost Adjustment: $25,000 |
Renewal/Extension Terms: 2 renewal options remain |
Overall Contractor Performance Rating:
Would you select/recommend this vendor again?
Choose an item.
|
Report Period Start: |
Report Period End: |
|
Click here to enter a date. |
Click here to enter a date. |