ALC-Policy Making

You members who would like you to see if we're going to get started. Jerseys quorum. We've got what looks like a pretty sure agenda today we'll find out whether Jordan on but I just wanna say that I'm glad to be on this committee and looking forward serving on this committee and some of the things that the committee does haven't been on this committee before some looking for that Sir Chesterfield Clark co chair do you have any comments. Just wanna say welcome to the new members of the committee we don't meet a lot but when we do meet we think it's significant even if it's in our own mind so good morning to everyone this. All right we have two items on the agenda today first item is B. consideration of the Osborn Carreiro and associates incorporated. contract with the BLR. So representative Les Warren. If you would come down and the president. Contract. Please enter your cell Les Warren district eighty four you're recognized Mister chairman. Committee members. you have in front of you for approval the actuarial consulting services agreement between BLR an Osborn Carreiro and associates Osborn Carreiro is currently under contract with the L. R. as the actuary for the General Assembly with regard to retirement bills through June thirtieth of this year. The terms of this new agreement is July first two thousand twenty three through June thirtieth of two thousand twenty five all terms of this agreement are identical to the current and previous agreements for the services with the exception of an increase in the maximum contract amount two hundred and seventy five thousand. the. Reason for that and that's a five thousand dollar increase over what it has been there are three changes the lead actuary primary contract Hourly amount went from two twenty to two thirty the supervising actuary amount went from up to seventy two to seventy five per hour and then the professional hourly rate during sessions went from seventeen hundred to eighteen hundred per hour so that's how you get the difference of five thousand. I've got a representative from Osborn Carreiro if you're if you want him to answer any questions I will just say as chair of public retirement that I have worked very closely with Jody Carreiro he's done an excellent job for us always available to me weather weekend Sunday night during the week I am very pleased to thank you senator Payton was here he would say the same thing so I am very glad to recommend continuing this contract. Be glad to answer any questions thanks. Thank you thank you Mrs year. And I recognize you're recognized thank you so much ordinarily we don't have I am one of those who does not like sole source contracts. But I'd like for our to the cheer to our council as to why this should be a sole source contract. For edification if you don't. Shall there be of Legislative Research I don't know that I can see why it should be I can tell you that and it twenty fifteen we did put out an RFP for the services and the Committee through the retirement committee they received only three bids one of which was Osborn Carreiro Osborn Carreiro was the only local company that submitted a bid and they were selected again for that and many other reasons and so and they have continued with that contracts since that time. Is it your like a motion at the proper time. All right let's see we have any other questions from committee of any questions Committee. Seeing none Sir just recognized yes I move approval of the contract with Osborn Carreiro and associates. I have a motion to approve proved the contract their second. Second from Senator Solomon a discussion on the motion. Or say none all in favor signify by saying aye those opposed nay eyes have a motion is carried contract is pretty thank you represent thank you Mr chairman I will just add this the in the past three sessions of the contract amount has never even come close we've been more like it sixty to seventy thousand reaching those sessions so thank you very much thank you represent one. Okay committee will move on to items see consideration of committee fund allocations for fiscal year twenty twenty four and I want to ask senator Chesterfield she would to present that budget thank you Mr chair ladies and gentleman the committee each session we provide Per diem and mileage and expense budget to you for your approval for each of the committees if you will look at that you will find that invariably the committees don't expend as much as we put forward but we want to make sure in case there is anything that comes up that they have sufficient funds so that they may meet and take care of the business of the committee. Of the various committees and with that I'd be happy to take any questions here the expenditures with a blue top is what they have what we had last year what they spent what was left in their budgets and then we have the proposed budget C. two of what we are proposing for them for this coming legislative. Interim period so I would ask that you look at it carefully if you have questions we're happy to answer as many as we can. Senator Johnson you're recognized. Thank you Mr of. I guess I should ask Senator Chesterfield this question as you know senator we had a meeting last week in transportation technology and Legislative Affairs which was Under the technology side more than the the transportation legislative affairs and I've just I've I know there's a couple of at least two because I had to interstate referrals and I just wanna make sure we have adequate to funding on that I know there are some that are for example you see that the retirement has thirty thousand spent zero then I just want to see do we have the flexibility to reallocate if necessary if we find ourselves a little. A upside down on from the the minimum on that Mr yes should we have insufficient funds for any committee the committee has the authority to come back in and grant those funds as you request great okay thank you Sir thank you Mister. Senator Hammer you're recognized for a question thank you share this the no public information and I'm not a commission appreciates let me share this but on the panel pandas Advisory Council per the legislation was passed this last session this will actually sunset the end of this year if you chair chooses to do so you can cut that two thousand dollars if you want to leave it in there just knowing that the end of this year that will fulfill this purpose no sunset the end of this year thank you all right thank you senator I think we should leave it the way it is that okay with you culture and then we'll we'll follow up on that thank you for the information. Any other questions from committee. Senator Solomon you're recognized for a question thank you so. I guess the this money is already appropriated is that correct. Sorry this has been appropriated in the budget that we passed yes it's in the okay and. And we if I'm in my read I get my first time on this committee am I reading it right that or twenty two twenty three. our. Total expenditure. Percentage what is their total there for the. Unallocated. Well if you look at that Page that searchers bills talk about with the blue at the time it shows the beginning budget the first column there on the left right the second is what was expended the third is the percent expended. And then the ending balance that was not expended. Last year last. Biennium. So if I'm reading that correctly then there's two hundred ninety thousand plus. Ending balance is that right. No no no I'm sorry it's two seventy seven one ninety seven. To see the sevens the okay if the all. Do we know. I have again This is that typical of. Balances that you're over year over year over year is it typical that we run that kind of a balance of yes you're recognized sometimes it is but then there committees if we are assigned particular things like interim studies if we have to do extra stuff the money is there so that we don't have to come back and go through this process all over again so it is totally dependent upon the work of the committees and and the chairs to determine what the amount will be how many meetings they will have and that is predicated then that money is then predicated on what you wish chair's decide your point Tucker all right thank you thank you Mr. Any other questions from committee. Seeing none what's will the committee. Thank. I have a motion to approve and a second any discussion on the motion all the favor signify by saying aye. Those opposed nay as have a motion is carried budget is approved. Is there any other than the under other business is there any other business that we need to discuss. Seeing none no further activities we are adjourned.