HomeMy WebLinkAboutRES 302 Draft 01 2024-2026A RESOLUTION AUTHORIZING THE PAYMENT OF FUNDS OF LATER FISCAL YEARS AND AUTHORZING THE MAYOR TO ENTER INTO AN AGREEMENT WITH THE STATE OF HAWAI‘I, OFFICE OF THE AUDITOR, FOR AN AUDIT
OF THE EMPLOYEES’ RETIREMENT SYSTEM OF THE STATE OF HAWAI‘I.
WHEREAS, Section 46-7 of the Hawai‘i Revised Statutes requires the consent of the Council in order for the County to enter into an agreement with the federal government or any other
public body respecting action to be taken pursuant to any of the powers granted to the County by law and furnish, expend, and receive any funds or other assistance in connection with
projects being or to be undertaken pursuant to those powers; and
WHEREAS, Section 10-11 of the Charter of the County of Hawai‘i (hereinafter “the Charter”) provides, in part, that “any contract, lease or other obligation requiring the payment of funds
from the appropriations of a later fiscal year or of more than one fiscal year shall be made or approved by resolution”; and
WHEREAS, the Department of Finance (hereinafter “the Department”) wishes to enter into a three-year agreement with the State of Hawai‘i, Office of the Auditor; and
WHEREAS, the purpose of this agreement is to facilitate and conduct an audit of the schedule of employer allocations of the Employees’ Retirement System of the State of Hawai‘i; and
WHEREAS, this agreement is necessary to comply with the requirements of Governmental Accounting Standards Board Statement No. 68 (“Accounting and Financial Reporting for Pensions”);
and
WHEREAS, the Department estimates the cost associated with this agreement to be $4,600, $4,800, and $5,000 for fiscal years 2026, 2027, and 2028, respectively, for a total of $14,400
across the three years of the agreement; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAI‘I that, pursuant to Section 46-7 of the Hawai‘i Revised Statutes, the Mayor is hereby authorized to enter into an agreement with
the State of Hawai‘i, Office of the Auditor, for the purposes hereinabove described.
BE IT FURTHER RESOLVED that, in accordance with Section 10-11 of the Charter, sufficient funds be budgeted in later fiscal years to cover the anticipated obligations of the County under
the terms of the agreement.
BE IT FINALLY RESOLVED that the County Clerk shall transmit a copy of this resolution to Diane T. Nakagawa, Director of Finance.
Dated at _____________, Hawai‘i, this ______ day of ___________________, 20___.
INTRODUCED BY:
_______________________________________
COUNCIL MEMBER, COUNTY OF HAWAI‘I