Title
Human Resources Department recommending the Board approve and authorize the Purchasing Agent to sign amendment I to agreement (4459) with Bickmore Actuarial retroactively adjusting the effective date from December 2, 2019 to October 1, 2019 with no change to compensation or scope.
FUNDING: Workers’ Compensation and General Liability Funds.
Body
DISCUSSION / BACKGROUND
Each year the County’s General Liability and Workers’ Compensation Programs have actuarial studies performed. The County has contracted with Bickmore Actuarial for over ten years. The objective of these studies is to provide an estimate of outstanding liabilities, projection of low costs, cash flow and investment income. The completed studies provide the program funding levels needed to fund the programs. These funding amounts provide the basis for charging the County departments to fund the programs.
This year, due to a miscommunication between CAO Fiscal Staff and the vendor, work began on the actuarial studies before the agreement 4459 became effective upon execution by the Purchasing Agent on December 2, 2019. Amendment I is retroactively adding an additional two months to the term of the contract by having the contract begin on October 1, 2019.
ALTERNATIVES
The Board could choose not to authorize the retroactive agreement; however the county would need to compensate Bickmore for any services provided to date.
PRIOR BOARD ACTION
12/15/2009 Legistar Item 09-1483 - Approval of Bickmore Actuarial Agreement
OTHER DEPARTMENT / AGENCY INVOLVEMENT
Human Resources Risk Management Department, CAO, Procurement and Contracts
CAO RECOMMENDATION / COMMENTS
It is recommended that the Board approve this item.
FINANCIAL IMPACT
Funding for the agreement is included in the General Liability and Workers' Compensation Program budgets for FY 2019-2020.
CLERK OF THE BOARD FOLLOW UP ACTIONS
None.
STRATEGIC PLAN COMPONENT
Good Governance