AGREEMENT TO PROVIDE ACTUARIAL SERVICES (2)AGREEMENT
THIS AGREEMENT, made and entered into this /� day of (� �' 1�'�-�' ,
2012, by and between the CITY OF CLEARWATER, FLORIDA, a municipal corporation,
hereinafter referred to as "City", and AMI Risk Consultants, Inc., an actuarial consulting
Firm, located at 11410 N. Kendall Drive, Miami, Florida, 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 providing 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 years ending September
30, 2012 thru 2014. This agreement may be terminated by the City with written notice by
August 31 of each year,
2 The Contractor shall perform an actuarial analysis of the City's general,
automobile, property, and Workers Compensation liability accruals, currently accounted for
as a part of the City's self insurance fund, and provide the City with a written report of its
analysis on an annual basis. The analysis will include, but not necessarily be limited to, a
computation of the "IBNR" (incurred but not reported) liabilities as of the September 30
fscal year-end. 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 (six bound copies and one electronic) which summarizes 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:
➢ City of Clearwater
➢ City's external auditors
5. The Contractor shall prepare and submit to the City no later than October 19�'
of each fscal year, a detailed schedule of the list of documents needed from the City
including the related date required. The City will provide the requested information by the
date required. The Contractor shall complete performance under this contract by December
15th of each fiscal year.
6. The Contracror shall bill the City and the City shall pay the Cantractor for the
performance of the services under this rnntract on the basis nf the Cantractor's normal and
customary chazges for such services, plus travel and ordinary� out-of-packet expenses. The
tatal amaunt of this cantract, including travel and ather out-of-pocket expenses, shall not
exceed $5,000 per year for fiscal years 2012, 2013 and 2014. T'he City may, by amendment
of this agreement, increase these m�imum fees and/or extend the completicm date upon the
Contractar's showing evidance of conditians which require substantially mare time than
would generally be required to perform the prescribed services. Progress payments will be
made on a monthly basis for work completed t�-date based on invaices submitted by the
Cc�ntractar. The sum of such prc��ress payments shall not exceed 9a% of the maximum
specified above. The final payrnent will be made within 30 days of receipt of the final
actuarial reports.
IN WITNESS WHEREOF, the parties hereto have caused this a�reement to be
executed the day and year first abave written.
Approved as to form:
�/ �/ �
,�. - ��_,�I�I
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CITY OF CLEARWATER, FLORIDA
: �� �� � !�.�-_ �
William B. Home, II
City Manager
Attest:
C ���uc��`
Rasemarie Call
Assistant City Attorney City Clerk
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AMl RISK CONSULTANTS, [NC.
By:
Agueda .Ing President