Specifications include, but are not limited to: 1. Provide an actuarially determined liability of the City's postemployment benefits other than pensions and its termination benefits, if any, consistent with current government accounting standards for the fiscal year for which the services are performed. The standards from the Governmental Accounting Standards Board (GASB) include, but are not limited to the following: • OPEB - GASB Statement No. 75 and 85 and • Termination benefits, if any, GASB Statement No. 47 as amended by GASB 68, 73 and 75. 2. Provide reports to enable the City of Wichita to comply with all current government accounting standards related to postemployment benefits other than pensions and termination benefits. 3. The valuation and actuarial reports are due each year by April 1st as of December 31 of the prior year ending. 4. Provide presentation and discussion of reports and calculations with City staff, auditors and reviewers. 5. The firm may be required to be present for discussion and questions of City staff and elected officials as called upon. 6. An actuarial valuation of risks and exposures associated with employee termination plans (GASB 47) may also be required.
