ACTUARIAL ANALYSIS/SELF-INSURANCE PROGRAM FOR YEAR 09/30/98
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AGREEMENT
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THIS AGREEMENT, made and entered into this 1L- day of II\~~-,-,,-- ,1998 by
and between the CITY OF CLEARWATER, FLORIDA, a municipal corporation, hereinafter
referred to as "City", and Ernst & Young LLP, a firm of Certified Public Accountants, located at
100 North Tampa Street, Tampa, Florida 33601, hereinafter referred to as "Contractor'"
WITNESSETH
WHEREAS, the City maintains a self-insurance program and is desirous of having an
actuarial analysis performed on all of its liability accruals, and
WHEREAS, the Contractor is in the business of public accounting and providing casualty
actuarial services, is fully qualified to meet their requirements of applicable City, State and
Federal law, and desires to perform the necessary services;
NOW, THEREFORE, the parties agree as follows:
1. This agreement relates specifically to the City's fiscal year ending September 30,
1998.
2. The Contractor shall perform an actuarial analysis of the City's general,
automobile, and Workers Compensation liability accruals, currently accounted for as a part of
the City's self insurance fund. The analysis will include, but not necessarily be limited to, a
computation of the "IBNR" (Incurred but not reported) liabilities as of September 30, 1998. The
Contractor will include in the annual report all disclosures necessary to comply with GASB
Statement Number 10.
3. Following the completion of the actuarial review, the Contractor shall issue a
report summarizing the findings of the actuarial analysis of the Central Insurance Fund.
4. The Contractor shall retain all working papers for a minimum of five (5) years,
unless notified in writing by the City of the need to extend the retention period. The Contractor
shall make working papers available, upon request, to the following parties or their designees:
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IN WITNESS WHEREOF, the parties hereto have caused this agreement to be executed
the day and year first above written.
Approved as to form:
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John Carassas
Assistant City Attorney
s:/agreement/Ernest & Young 98
CITY OF CLEARWATER, FLORIDA
By:J
Michael J. Roberto
City Manager
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Attest:
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ia E. Goudeau
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ERNST & YOUNG LLP
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Attest: //1:(/ (AI ; ~/ tC 7) 7/"c vi ~-/j~; {>? '<.--U
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MARGIE LAMAR [,i"_h
NOTARY PUFk'(;
GWINNETT cm.;lrn
MY COMMISSION EXPIRES
APRIL 29, 1999