PREPARED BY: DAVID GONZALES DATE OF MEETING: 08/04/2025
SUBJECT:
TITLE
CONSIDER ADOPTING RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN PABLO AUTHORIZING THE CITY MANAGER TO EXECUTE A CONSULTING SERVICES AGREEMENT WITH GOVINVEST, INC. (DBA TRUE COMP) FOR FINANCIAL FORECASTING SOFTWARE AND ACTUARIAL REPORTING SERVICES IN THE AMOUNT OF $53,496
ceqa: This proposed action is not a project as defined by CEQA.
Label
CITY MANAGER RECOMMENDATION
Recommendation
Adopt Resolution
Body
Compliance statements
Continue Best Management Practices, Fiscal Excellence, and Fiscal Transparency is an adopted City Council Priority contained in the adopted Fiscal Year 2025-2027 City Council Priority Workplan, effective April 7, 2025.
BACKGROUND
The City of San Pablo requires financial forecasting software and actuarial reporting services to improve fiscal planning, long-term budget forecasting, and compliance with pension-related obligations. GovInvest Inc., doing business (dba) as TrueComp, has demonstrated subject matter expertise and offers customized tools that support financial scenario modeling and actuarial analysis.
Following a review of Consultant’s proposal dated July 17, 2025, City staff determined that the Consultant possesses the required qualifications and specialized services needed. The City recommends entering into a consulting agreement with GovInvest Inc. to provide financial forecasting software and actuarial services, with the assistance of a subconsultant, Roger Burton of Precision Actuarial Inc., for technical actuarial tasks.
The term of the agreement is three years, effective August 14, 2025, and ending August 13, 2028. The agreement includes a not-to-exceed amount of $53,496.
The services to be rendered align with best practices in municipal finance and will enhance the City’s ability to make data-informed fiscal decisions.
FISCAL IMPACT
The contract amount is $53,496 over a three-year period. Funding for this agreement is available and has been budgeted in the City’s adopted operating budget for FY 2025-26 in Fund 100-1420-43600.
ATTACHMENTS:
Att A - Resolution
Att B - GovInvest- dba TrueComp Contract