2.1 2.1
AGREEWNTSTenflex-2017-18 Service Fee Agreement—10-2-17
RESOLUTION AUTHORIZING ENGAGEMENT OF PENFLEX, INC.
SERVICE AWARD PROGRAM SPECIALISTS TO PROVIDE
ADMINISTRATION AND SUPPORT SERVICES FOR 2017/2018 AND
PROVISION OF 2017 STANDARD YEAR END SERVICES
RESOLUTION NO.: ,2016
INTRODUCED BY:
WHO MOVED ITS ADOPTION
SECONDED BY:
WHEREAS, the Queensbury Town Board wishes to engage the services of PENFLEX,
INC. Service Award Program Specialists to provide administration and support services during
2017/2018, and the 2017 standard year end administration services for the Town of Queensbury's
Volunteer Firefighter Service Award Program and the LOSAP Audit Package, as outlined in
PENFLEX's Service Fee Agreement presented at this meeting, and
WHEREAS, PENFLEX will provide these services for the amount of-
$12,900
£$12,900—Estimated Standard and Distribution Services Fees; and
• $ 345 —NYS LOSAP Audit Package;
for a total estimated cost of$13,245,
NOW, THEREFORE, BE IT
RESOLVED, that the Queensbury Town Board hereby authorizes the engagement of
PENFLEX, INC. to provide administration and support services during 2017/2018 and the 2017
standard year end administration services for the Town of Queensbury's Volunteer Firefighter
Service Award Program for a total estimated cost of $13,245, to be paid from the appropriate
account as determined by the Town Supervisor and/or Town Budget Officer, and
BE IT FURTHER,
RESOLVED, that the Town Board hereby authorizes and directs the Town Supervisor to
execute the Service Fee Agreement with PENFLEX, INC. substantially in the form presented at this
meeting and the Town Supervisor and/or Town Budget Officer to take any other actions necessary
to effectuate the terms of this Resolution.
Duly adopted this 211d day of October, 2017 by the following vote:
AYES
NOES
ABSENT:
Penflex, Inc. 11/1/2017-10/31/2018 Service Fee Agreement
TOWN OF QUEENSBURY
VOLUNTEER FIREFIGHTER
SERVICE AWARD PROGRAM
Standard Services Fee Schedule
Per-Participant Fee: $45, $0 change from 2016
Payment certification and trustee directive letters: $75 per letter, $0 change from 2016
Total Estimated Standard and Distribution Services Fees: $12,900
Preparation of Financial Statement Disclosures
PLEASE CHECK 'YES' OR 'NO':
Complete the NYS LOSAP Audit Package*for a fee of$345: Yes No
'Please refer to the enclosed newsletter titled'New York State Volunteer Firefighter LOSAP Audit Requirement'for more
information
If YES, please complete the following information:
Auditing Firm
Contact Name
Email Address
All other services are optional and are billed only when requested. Please call for fee estimates
and purchase order arrangements. Optional services include additional client meetings, drafting of
special correspondence and documents, and performing cost estimate calculations for proposed
program amendments.
To authorize Penflex, Inc. to begin providing these services in accordance with this fee schedule,
please have the Town Supervisor sign and return this Service Fee Agreement. Keep a copy for
your records.
Supervisor Edward J. Holohan, ASA
Town of Queensbury President, Penflex, Inc.
PENFLEX INC.
SERVICE AWARD PROGRAM STANDARD SERVICES
1. Prepare an annual Service Award Program participant statement for each Service Award Program
participant(including the persons who are being paid monthly Service Awards),
2. Prepare for the record and for audit purposes an annual Service Award Program report which:
a. shows and completely documents the calculation (defined benefit plans) or allocation (defined
contribution plans)of the annual Program cost.
b. accounts for changes in the Program's assets.
c. by individual volunteer, lists their earned Service Awards(defined benefit plans)or accounts for
changes in their Program accounts(defined contribution plans).
d. summarizes the major provisions of the Program.
e. lists current payment recipients.
f. includes a service credit listing for current participants.
g. includes a written description of the actuarial methods and assumptions used to calculate the
annual program costs(defined benefit plans).
h. For members of the Sponsor's Governing Board or Officials, prepare:
i. "Fact Sheet"which includes current year important information about their Program.
ii. "Special Commentary" correspondence which alerts officials about emerging issues
and/or explains changes in the Program (such as an increase in Program funding costs).
3. Meet (one meeting) upon request, first with officials and then with volunteers to review the Annual
Report, to answer questions from volunteers about their annual statements and to provide updates
on Service Award Program related legislation and on their own Program.
4. Provide forms and instructions to enroll new volunteers, change beneficiaries, file for benefit
payments,etc.
5. At year-end, provide written instructions about how to prepare the required certified listings to be
approved by the Sponsor's Governing Board and Department/Company officials, posted by the
Department/Company,and sent to Penflex, Inc.
6. Project the Program's cash flow needs in order to plan and formulate investment strategy.
7. Prepare written notification/explanation to be sent to persons who cease to participate in the
Program.
8. During normal business hours, have trained staff available to answer questions from officials and
designated client contact persons.
9. Throughout the year, receive, review and reconcile financial statements from custodian and/or
investment and/or insurance providers.
10. Process Service Award payment applications, certify payment amounts and eligibility, prepare
payment directives and communicate directly with the payment recipient and/or custodian and/or
paying agent when necessary.
11. Answer routine questions from client's auditors about the Program and the annual report.
12. When required, prepare vouchers for payments to the Program Trust Fund.
'13. Prepare and communicate to clients preliminary cost estimates of proposed changes to Program.
14. Help clients resolve Program funding issues.
15. Advise clients about potential Program non-compliance with applicable laws.