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COUNTY OF HAWAI`I <br />RESOLUTION NO. <br />STATE OF HAWAPI <br />302 2S <br />A RESOLUTION AUTHORIZING THE PAYMENT OF FUNDS OF LATER FISCAL <br />YEARS AND AUTHORIZING THE MAYOR TO ENTER INTO AN AGREEMENT <br />WITH THE STATE OF HAWAI`I, OFFICE OF THE AUDITOR, FOR AN AUDIT OF <br />THE EMPLOYEES' RETIREMENT SYSTEM OF THE STATE OF HAWAI`I. <br />WHEREAS, Section 46-7 of the Hawaii Revised Statutes requires the consent of the <br />Council in order for the County to enter into an agreement with the federal government or any <br />other public body respecting action to be taken pursuant to any of the powers granted to the <br />County by law and furnish, expend, and receive any funds or other assistance in connection with <br />projects being or to be undertaken pursuant to those powers; and <br />WHEREAS, Section 10-11 of the Charter of the County of Hawaii (hereinafter "the <br />Charter") provides, in part, that "any contract, lease or other obligation requiring the payment of <br />funds from the appropriations of a later fiscal year or of more than one fiscal year shall be made <br />or approved by resolution"; and <br />WHEREAS, the Department of Finance (hereinafter "the Department") wishes to enter <br />into a three-year agreement with the State of Hawaii, Office of the Auditor; and <br />WHEREAS, the purpose of this agreement is to facilitate and conduct an audit of the <br />schedule of employer allocations of the Employees' Retirement System of the State of Hawaii <br />for fiscal years 2025, 2026, and 2027; and <br />WHEREAS, this agreement is necessary to comply with the requirements of <br />Governmental Accounting Standards Board Statement No. 68 ("Accounting and Financial <br />Reporting for Pensions"); and <br />WHEREAS, the Department estimates the total cost associated with this agreement to be <br />$14,400 across all three years of the agreement; now, therefore, <br />