HomeMy Public PortalAbout2012.068 (04-03-12)RESOLUTION NO. 2012.068
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD
AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT BETWEEN THE CITY
OF LYNWOOD AND BARTEL ASSOCIATES LLC
WHEREAS, the City of Lynwood has utilized services from Bartel Associates
LLC since 2009 to perform the actuarial valuation to determine the City's obligations
and costs for its post employment benefits; and
WHEREAS, Governmental Accounting Standards Board (GASB) Statement No.
45 - Accounting and Financial Reporting by Employers for Postemployment Benefits
Other Than Pensions requires the City of Lynwood to determine the City's obligations
and costs for its post employment benefits (for retirees); and
WHEREAS, the CalPERS Trust requires that the City submit an actuarial
certification every two years. The last actuarial valuation expired on June 30, 2011; and
WHEREAS, this valuation cannot be performed by City staff. It requires the
expertise of a certified actuary; and
WHEREAS, such an acquisition may be more economically and efficiently
effected through the use of an alternate procedure.
NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES
HEREBY FIND, DETERMINE, ORDER AND RESOLVE AS FOLLOWS:
Section 1. The City Council authorizes the Mayor to execute an Agreement
between Bartel Associates LLC and the City of Lynwood for the contractor to perform
the actuarial valuation for the periods ended June 30, 2012 and June 30, 2013.
Section 2. The Agreement shall be in a form approved by the City Attorney and
the total payment to the contractor shall not exceed $18,500 for the contract term.
Section 3. The City Council approves the appropriation of $18,500 from the
Self- Insurance Fund.
Section 4. This Resolution shall become effective immediately upon its
adoption.
PASSED, APPROVED and ADOPTED this 3rd day of April 2012.
i ,,
Jim Morton, ayor
ATTEST:
APPROVED AS TO FORM:
Fred Galante, City Attorney
APPROVED AS TO CONTENT:
V �� d
Robert S. Torrek<atant
City Manager
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the
foregoing Resolution was passed and adopted by the City Council of the City of
Lynwood at a regular meeting held on the 3rd day of April, 2012.
AYES: COUNCIL MEMBERS RODRIGUEZ, SANTILLAWBEAS, ALATORRE
AND MORTON
NOES: NONE
ABSENT: COUNCIL MEMBER CASTRO
ABSTAIN: NONE
Maria Quinonez, CIty Clerk
STATE OF CALIFORNIA )
) SS.
COUNTY OF LOS ANGELES )
I, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City
Council of said City, do hereby certify that the above foregoing is a full, true and correct
copy of Resolution No. 2012.068 on file in my office and that said Resolution was
adopted on the date and by the vote therein stated. Dated this 3rd day of April, 2012.
!_1 1
Maria Quinonez, City Clerk