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THE CITY OF 17 <br /> CITY COUNCIL AGENDA REPORT <br /> pL E ASANTON. <br /> April 19, 2011 <br /> Finance <br /> TITLE: APPROVAL OF A FIFTH AMENDMENT TO AN AGREEMENT FOR <br /> PROFESSIONAL SERVICES WITH BARTEL ASSOCIATES, LLC, FOR <br /> ACTUARIAL CONSULTING AND RELATED SERVICES <br /> SUMMARY <br /> The City entered into an agreement with Bartel Associates, LLC, July 1, 2006, and <br /> subsequently Amendments #1, #2, #3 and #4, to provide consulting services for <br /> preparation of the annual actuarial valuation and related consulting services to meet the <br /> accounting and financial reporting requirements for the City's retiree medical program. <br /> Staff is now recommending that the City approve a Fifth Amendment to the contract for <br /> a not to exceed amount of $33,000 for services through June 30, 2011. <br /> RECOMMENDATION <br /> Approve the Fifth Amendment to Professional Services Agreement with Bartel <br /> Associates, LLC, for an additional fee of $33,000 and a new contract total not to exceed <br /> $140,000. This amount is for expenditures for the five year period ending June 30, <br /> 2011 for an average of $28,000 per year. <br /> FINANCIAL STATEMENT <br /> The amount expended on the initial contract plus Amendments #1, #2, #3 and #4 is <br /> $107,000. This action requests an additional amount of not to exceed $33,000 for <br /> services through June 30, 2011. Funding is available in the Special Revenue Funds; <br /> Retiree Medical Reserve and LPFD Retiree Medical Reserve Funds. <br />