HomeMy WebLinkAbout#5276 Engagement Letter Between City of Canton and Lauterbach & Amen LLP RESOLUTION NO. 5276
A RESOLUTION APPROVING AN ENGAGEMENT LETTER BETWEEN THE CITY OF
CANTON AND LAUTERBACH&AMEN LLP TO PREPARE TAX:LEVY ACTUARIAL
REPORTS FOR THE CITY OF CANTON FOR FISCAL YEARS 2020-2022
WHEREAS,the Mayor and City Council of the City of Canton have determined that it is
necessary and in the best interest of the City of Canton to accept certain letter of engagement with
Lauterbach &Amen,LLP, as set forth in Exhibit A, attached hereto and incorporated herein; and
WHEREAS,Lauterbach&Amen,LLP will prepare the Police and-F'irefighters' Tax Levy
Actuarial Valuations for the City for the fiscal years ending April 30,2020 through April 30, 2022.
NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CANTON,ILLINOIS,AS FOLLOWS:
1. That the engagement letter attached hereto and incorporated herein.as"Exhibit All is
hereby approved.
2. That the Mayor, or his designee, and/or the Treasurer of the City cif Canton are authorized
and directed to execute said engagement letter on behalf of the City of Canton.
3. That this Resolution shall be in full force and effect immediately utpon its passage by the
City Council of the City of Canton, Illinois, and approval by the Mayor thereof.
PASSED by the City Council of the City of Canton,Illinois, at ai ular meeting this 18th
day of August, 2020, upon a roll call vote as follows:
AYES: Alderwoman Andra Chamberlin, Quin Mayhew, John Love,i, Craig West,Angela
Hale, Jeff Fritz,Angela Lingenfelter,Justin Nelson
NAYS: None
ABSENT: None
APPROVED
�,/� &14A
Kent McDo 1,Mayor
AT ST:
Diaa-he-'y--716X, City Clerk
f 668 N.RIVER ROAD • NAPERVILLE,ILLINOIS'60563
Lauterbach & Amen,LLP PHONE 630.393.1483 • FAX 630.393.2516
j
CERTIFIED PUBLIC ACCOUNTANTS www.lauterbachamen.com
April 20,2020
City of Canton
2 N Main Street
Canton, Illinois 61520
We are pleased to confirm our acceptance and understanding of the services we will provide for the City
of Canton for the fiscal years ending April 30, 2020 through April 30,2022. It is our understanding that
Lauterbach & Amen, LLP will prepare the Police & Firefighters' Tax Levy Actuarial Valuation for the
City.
You agree to assume all management responsibilities for the actuarial services we provide; you will
oversee the services by designating an individual, preferably from senior management, with suitable
skill, knowledge, or experience; you will evaluate the adequacy and results of the services; and you
will accept responsibility for them.
Lauterbach & Amen, LLP does not assume any management responsibilities for the City. These
services cannot be relied upon to detect errors, irregularities, or illegal acts that may exist.
However, we will inform you of any such matters.that may come to our attention.
Costs for our services are as follows:
Fiscal Year Fiscal Year Fiscal Year
Ended Ended Ended
Annual Actuarial Reports 04/30/2020 04/30/2021 04/30/2022
•Preparation of Firefighters'Tax Levy Actuarial Valuation $2,900 - $2,990 $3,080
•Preparation of Police Tax Levy Actuarial Valuation $2,900 $2,990 $3,080
•Attendance at Meeting to present results Included Included . Included
Total Annual Actuarial Reports $5,800 $5,980 $6,160
The fees as depicted on the prior page include attendance for up to 2 meetings per year, as requested, to
discuss actuarial results. Any meeting attendance required above and beyond the 2 included meetings
will be billed at the rate of$250 per meeting.
Either parry may terminate our engagement at any time for any reason upon thirty (30) days written
notice to the other. Subcontracting is prohibited without the express written approval of the Pension
Fund's Board of Trustees. This agreement shall be governed by and construed in accordance with the
laws of the State of Illinois.
City of Canton
April 20,2020 Pagel of2
We appreciate the opportunity to be of service to the City of Canton and believe this letter accurately
summarizes the significant terms of our engagement. If you have any questions, please let us know. If
you agree with the terms of our engagement as described in this letter,please iindicate your acceptance by
signing below and returning it to us.
Cordially,
Lauterbach& Amen,LLP
RESPONSE:
This letter correctly sets forth the understanding of the City of Canton:
Accepted by:
Title:
City of Canton
April 20,2020 Page.2 of 2
We appreciate the opportunity to be of service to the City of Canton and b,cllieve this.letter'accurately
summarizes the significant terms of our engagement. if your have tory qu4tionas,please let us know. If
you agree with the terms of our engagement as described in this letter,plcak.indicate your acceptance by
signing below and returning it to us.
Cordially, .
f,autcrbach Amen,LLP
This letter correctly sets forth.the understanding of the City of Canton:
Accepted by:
Title; JAO-��
i
City of Canton
April 20,2020 Page 2 of2