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Ms. Elissa Nagy <br />April 15, 2021 <br />Page 4 <br />The base fees for the services are described in the following chart: <br />$ 23,000 <br />* The off-year of this engagement presumes a "roll forward", whereby the previous year's <br />valuation would be adjusted so as to apply to the projected year. GASB standards permit <br />fully compliant valuations every other year unless significant changes occur, in which case <br />a new fully compliant valuation must be performed. If a fully compliant valuation were <br />required or requested by the County in the intermediate year(s), the cost would be <br />developed by adjusting the initial actuarial reportfee for inflation. <br />There is no separate fee for telephone conferences. No other surveys, impact studies or other projects <br />are contemplated in the scope of this engagement. Additional studies, comparisons with other counties, <br />or other services will be performed upon request with, whenever possible, fixed fee quotes provided in <br />advance. <br />We stand behind these results and are available to assist management in other strategic areas for <br />controlling the OPEB liabilities. This letter of engagement is for a two-year period. Please return this <br />signed agreement and retain a copy for your records. We thank you and other County officials for your <br />confidence in our firm and look forward to working with you in the years ahead. <br />Should you have any questions regarding these matters, please do not hesitate to contact us. <br />Sincerely, <br />A) <br />Nicolas Lahaye, FSA, MAAA <br />Consultant and Actuary <br />Gabriel, Roeder, Smith & Company <br />NL/bm <br />7=� <br />For the Indian River County <br />Print Name (Authorized Party) <br />Signature <br />Plan Reporting <br />Employer Accounting <br />Plan <br />and Reporting <br />Funding <br />Fee* <br />GASB 74 <br />GASB 75 <br />10/1/2021 Actuarial Valuation (Date) <br />Two Full Reports (Funding and Accounting) <br />For YE 9/30/22 and <br />NA <br />For YE 9/30/22 <br />$ 17,000 <br />YE 9/30/23 <br />N 4' unless <br />Two Update Letters: <br />One Letter. For YE <br />Roll -forward Update Letters <br />significant changes <br />For YE 9/30/22 and <br />9/30!23 <br />$ 6,000 <br />for YE 9/30/23 <br />$ 23,000 <br />* The off-year of this engagement presumes a "roll forward", whereby the previous year's <br />valuation would be adjusted so as to apply to the projected year. GASB standards permit <br />fully compliant valuations every other year unless significant changes occur, in which case <br />a new fully compliant valuation must be performed. If a fully compliant valuation were <br />required or requested by the County in the intermediate year(s), the cost would be <br />developed by adjusting the initial actuarial reportfee for inflation. <br />There is no separate fee for telephone conferences. No other surveys, impact studies or other projects <br />are contemplated in the scope of this engagement. Additional studies, comparisons with other counties, <br />or other services will be performed upon request with, whenever possible, fixed fee quotes provided in <br />advance. <br />We stand behind these results and are available to assist management in other strategic areas for <br />controlling the OPEB liabilities. This letter of engagement is for a two-year period. Please return this <br />signed agreement and retain a copy for your records. We thank you and other County officials for your <br />confidence in our firm and look forward to working with you in the years ahead. <br />Should you have any questions regarding these matters, please do not hesitate to contact us. <br />Sincerely, <br />A) <br />Nicolas Lahaye, FSA, MAAA <br />Consultant and Actuary <br />Gabriel, Roeder, Smith & Company <br />NL/bm <br />7=� <br />For the Indian River County <br />Print Name (Authorized Party) <br />Signature <br />