Title
Approving a resolution with the caption reading: RESOLUTION OF THE CITY OF PFLUGERVILLE, TEXAS, AUTHORIZING THE CITY MANAGER TO EXECUTE AN INTERLOCAL PURCHASING AGREEMENT WITH THE NORTH CENTRAL TEXAS COUNCIL OF GOVERNMENTS (NCTCOG).
Summary
The North Central Texas Council of Governments (NCTCOG) has developed North Texas SHARE, a public sector solution center that includes a cooperative purchasing program for goods and services. The North Texas SHARE program procures a variety of goods and services in accordance with state law while maintaining quality vendors and reducing City staff efforts for procurement. There is no cost to the City to participate in the North Texas SHARE program.
The City is seeking this interlocal agreement at this time to obtain actuarial services for the calculation of the City's liability related to Other Post Employment Benefits (OPEB). Although the City does not pay for any post employment benefits at this time, this liability represents the benefit any former employee might receive by using the city health insurance plan instead of a more costly private insurance plan. The City is required to present its liability for OPEB in the City's Comprehensive Annual Financial Report (CAFR) based on the standards of the Governmental Accounting Standards Board (GASB). The information necessary to comply with these accounting standards is obtained through a study performed by an actuarial firm, typically every other year. As GASB has recently changed the standards surrounding OPEB reporting, an additional study is necessary to convert the information from the former GASB Statement 45 to the new GASB 75 Statement standard. After this update is complete, the City will return to an every other year reporting schedule.
Approval of this resolution allows the City Manager to enter into an Interlocal Purchasing Agreement with NCTCOG to obtain shared services (attached). This interlocal agreement would be used to subsequently engage Ga...
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