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Meeting Date:
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2/24/2021 - 6:00 PM
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Category:
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Consent Agenda
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Type:
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Action
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Subject:
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14.12 Review and Potential Approval of Actuarial Study Contract - Total Compensation Systems, Inc.
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LCAP (Local Control Accountability Plan) Goal:
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Goal 1: All students will receive a high quality education in a safe and welcoming environment with equitable and high expectations, access to technology, and instruction in the California State Standards that prepare them for college and career.
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Enclosure
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Total Compensation Systems, Inc - Proposal
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File Attachment:
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Summary:
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School districts contract with actuarial companies to complete a full annual and then rollover second year valuation study for OPEB, other post employment benefits. As a result of the audit notation from Crowe, presented at tonight's board meeting, MDUSD has identified a new actuarial, having reached out to five different recommended actuarial companies to provide the District with quotes and references.
Total Compensation Systems, Inc works extensively throughout the state of California. While this contract does not need to be brought to the Governing Board, due to an amount below the contract threshold, the exhibit attached to this board item is presented to the Governing Board for review to address the response in the audit and for the sake of transparency with the public.
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Funding:
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General Fund
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Fiscal Impact
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Year One (June 2021) - $6,120
Year Two (June 2022) - $3,060
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Recommendation:
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Approve actuarial study contract with Total Compensation Systems, Inc.
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Approvals:
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Recommended By:
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Signed By:
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Niccole Helton - Administrative Assistant
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Signed By:
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Isaac Williams - Internal Auditor
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Signed By:
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Mika Arbelbide - Director of Fiscal Services
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Signed By:
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Dr. Lisa Gonzales - Chief Business Officer
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Signed By:
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Dr. Adam Clark - Superintendent
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