Arkansas Ionwave #HS-26-048

City of Hot Springs Solicits Actuarial Services for GASB 75 Compliance

The City of Hot Springs, Arkansas is seeking qualified firms to provide professional actuarial services for compliance with GASB Statement No. 75. - Government Buyer: - City of Hot Springs, Arkansas - Purchasing Office - Services Requested: - Actuarial valuation of Other Post-Employment Benefits (OPEB) - Data collection and review - Preparation of Actuarial Valuation Reports and supporting schedules for financial reporting - Required Supplementary Information (RSI) tables - Presentations to staff or Board (if requested) - Ongoing technical support and recommendations for GASB 75 compliance - Notable Requirements: - Strict compliance with GASB 75 standards - Development of compliant actuarial assumptions and methods - Provision of required journal entries and disclosures for financial statements - Selection based on qualifications, not price (per Arkansas Code Annotated 19-65-101 et seq.) - No specific OEMs or vendors are named in the solicitation - Opportunity is open to all qualified actuarial firms with relevant experience

Description

The City of Hot Springs is soliciting Statements of Qualifications for professional actuarial services related to GASB Statement No. 75. The scope includes actuarial valuation of Other Post-Employment Benefits (OPEB) to ensure accurate financial reporting and compliance with governmental accounting standards. The selected actuary will perform data collection, actuarial valuation, reporting, and provide recommendations and support. Deliverables include an actuarial valuation report, supporting schedules, and presentations as needed.

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