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REQUEST FOR CITY COUNCIL AGENDA ITEM Agenda Date Requested: June 25. 2007 Appropriation Requested By: .John .Joerns Source of Funds: Department: Administration Account Number: Report: Resolution: Ordinance: Amount Budgeted: Exhibits: Emails from Clark Askins Amount Requested: Exhibits: Email from Phvllis Rinehart Budgeted Item: YES NO Exhibits: HR 2365 Synopsis Exhibits: HB 2365 Full Version SUMMARY & RECOMMENDATION At the June 11 City Council meeting Council asked staff to secure additional information regarding HE 2365 (now signed by the Governor and effective immediately) and GASB 45. More specifically Council asked for information on the potential effect on bond ratings if Cities do not perform the actuarial studies and report according to GASB 45 standards. Attached are these emails; . Two from Clark Askins after a similar question was raised at the last Chapter 172 meeting . One from Phyllis Rinehart noting her conversation with the City's current auditor, Null-Lairson We have contacted our Financial Advisor and asked if they could determine how the bond rating agencies would respond if a city elected not to follow GASB 45. As of this writing we do not have any input from the Financial Advisor. We have invited both the City's Auditing Firm and Financial Advisors to attend the June 25 workshop. As directed at the June II meeting, the two items tabled are returned for consideration. Action Required bv Council: Consider approval of the agenda items tabled at the June 11,2007 City Council meeting. · CONSIDER APPROVAL OR OTHER ACTION REGARDING AN ORDINANCE APPROVING AND AUTHORIZING AN INTERLOCAL AGREEMENT BETWEEN THE CITY OF LA PORTE AND NORTH CENTRAL TEXAS COUNCIL OF GOVERNMENTS, FOR COOPERATIVE PURCHASING FOR ACTUARIAL SHARED SERVICES · CONSIDER APPROVAL OR OTHER ACTION APPROVING AND AUTHORIZING AN AGREEMENT BETWEEN THE CITY OF LA PORTE AND GABRIEL, ROEDER, SMITH & CO.; TO PERFORM ACTUARIAL CONSULTING SERVICES A &hO~7 Date I ( .