socrra - agenda regular meeting – wednesday, august 11
TRANSCRIPT
Berkley ⚫ Beverly Hills ⚫ Birmingham ⚫ Clawson ⚫ Ferndale ⚫ Hazel Park ⚫ Huntington Woods ⚫ Lathrup Village ⚫ Oak Park ⚫ Pleasant Ridge ⚫ Royal Oak ⚫ Troy
SOCRRA ⚫ 3910 W. Webster Road ⚫ Royal Oak ⚫ Michigan ⚫ 48073 ⚫ Phone 248.288.5150 ⚫ Fax 248.435.0310 ⚫ Email [email protected] www.socrra.org
Printed on Post Consumer Recycled Content Paper
AGENDA
Regular Meeting – Wednesday, August 11, 2021 – 9:30 a.m.
Zoom Meeting – See page 3 for instructions
Regular Meeting
1. Meeting Called to Order
2. A. Roll Call & Recognition of Visitors
B. Public Comments
3. Approval of Agenda
4. Consent Agenda
All items listed on the Consent Agenda are considered to be routine by the Board of
Trustees, will be enacted by one motion and approved by a roll call vote. There will be
no separate discussion of these items unless a Board Member or visitor so requests, in
which event the item will be removed from the consent agenda and considered as the last
item of business.
A. Approval of Minutes – Regular Meeting – July 14, 2021
B. Approval of Warrants – No. RA 824
C. MERS Annual Meeting
D. Quarterly Legal Report
E. Investments – July 1, 2020 to June 30, 2021
F. Rental Property Report
G. Information Reports
1) Tonnage Analysis – July 2021
2) Tonnage Percentages – July 2021
3) Budget Analysis – July 2021
4) Financial Status Summary – July 2021
5) Compost Delivered to Members
5. Administrative Reports (No Board Action Requested)
A. Summary of 2020/21 Operations
B. Operations Update
C. SOCRRA Drop-Off Center
D. OPEB Actuarial Valuation Report
E. 2022 and 2023 Schedule of Important Collection Date
6. Future Business (Communication from Board Members)
7. Items for Decision (Board Action Requested)
A. Troy Transfer Station Paving
8. Adjournment
Notice: The Southeastern Oakland County Resource Recovery Authority will provide necessary, reasonable
auxiliary aids and services, such as signers, for the hearing impaired, or audiotapes of printed materials being
considered at the meeting to individuals with disabilities. All such requests must be made at least five days prior to
said meeting. Individuals with disabilities requiring auxiliary aids or services should contact the Southeastern
Oakland County Resource Recovery Authority by writing or calling: General Manager's Office, 3910 W. Webster
Road, Royal Oak, MI 48073; (248) 288-5150.
The board meeting will be conducted remotely through a zoom VIDEO meeting. You will have the option of using your computer’s audio and logging in through the provided link. Or you can log in and dial using any phone to join the audio.
Topic: SOCRRA Board meeting – this is the same meeting ID as the SOCWA Board meeting – you will be in the waiting room until we are ready to begin the SOCRRA portion of this Zoom meeting
Topic: SOCWA then SOCRRA Board meetings
Time: Aug 11, 2021 08:30 AM Eastern Time (US and Canada)
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SOCRRA Regular Meeting – July 14, 2021
Table of Contents
Chair Recognized Visitors –
13189
Agenda Approved as Amended –
13190
APPROVAL OF CONSENT AGENDA
13191
June 9, 2021 – Regular Meeting Minutes – Approved as Submitted –
Warrant No. RA – 823 – Approved −
Purchase of Baler Wire – Approved –
Information Reports – Received and Filed –
ADMINISTRATIVE REPORTS
Operations Update – Received and Filed –
13192
SOCRRA Drop-Off Center – Received and Filed – 13193
Annual Actuarial Valuation – MERS – 13194
Property and Liability Insurance -- 13195
2020/21 Audit – Received and Filed – 13196
Adjourned – 13197
6758.
SOCRRA
REGULAR MEETING MINUTES
Wednesday, July 14, 2021– Zoom Meeting
The meeting was called to order at 9:30 a.m. by Mr. Chris Wilson, Chair
Present Votes Municipality Location: City, State, County
D. Schueller 4 Berkley Berkley, MI, Oakland
C. Wilson 3 Beverly Hills Beverly Hills, MI, Oakland
T. Markus 6 Birmingham Birmingham, MI, Oakland
M. Hodges 3 Clawson Clawson, MI, Oakland
D. Antosik 5 Ferndale Ferndale, MI, Oakland
A. LeCureaux 4 Hazel Park Hazel Park, MI, Oakland
R. Fortura 2 Huntington Woods Huntington Woods, MI, Oakland
S. Mitchell Theriot 2 Lathrup Village Lathrup Village, MI, Oakland
D. DeCoster (Alternate) 6 Oak Park Clinton Twp, MI, Macomb
J. Breuckman 1 Pleasant Ridge Pleasant Ridge, MI, Oakland
A. Filipski 14 Royal Oak Royal Oak, MI, Oakland
K. Bovensiep 15 Troy Troy, MI, Oakland
Total 65
Absent Votes Municipality
Also Present
J. A. McKeen, General Manager
R. Jackovich, Operations Manager
C. Farris, Organizational Development Manager
R. Davis, General Counsel
T. Jones, Hazel Park
Page 2
SOCRRA Minutes
July 14, 2021 6765.
-13189-
The Chair recognized visitors and called for public comment. The following email was received
from a Troy resident before the meeting:
I am a 69 year old retired Troy Resident and have lived in Troy since 1989.
Over the last few years I have been listening to EGLE sponsored webinars on recycling and
many other environmental topics. According to EGLE, Michigan is one of the worst states in the
country for recycling, only about 15%. I encourage family, friends and neighbors to recycle,
reuse or donate items. The goal is to keep good products out of the landfill.
I have two concerns.
1. About two years ago Troy Residents were upgraded to large recycling containers. Which was
wonderful. However, now we can’t recycle large cardboard boxes from flat screen TVs,
appliances and other items. This is assuming that the boxes are flattened and placed along the
large container. Apparently if it isn’t placed in the large container, the box goes into the garage
truck. This is a step backwards, with the old small container, the flattened cardboard box could
be placed next to the container and be picked up for recycling . People aren’t going to take the
time to cut up a large box and place it in the curbside container. In order to encourage recycling,
you must make it easy for people to recycle . Cardboard is an easy material to recycle and should
be picked up at the curb. No excuses. Just do it.
2. SOCRRA Appointments at the Troy Facility. It is ridiculous that we now need an appointment
to recycle products not picked up in the curbside container. I read the online, 6/2/21 letter by Jeff
McKeen, stating the reason for continuing with appointments was due to safety concerns for the
workers and the public. How many workers and people from the general public were injured at
the SOCRRA Center before the pandemic? Maybe consider SOCRRA Center Hours for the
general public, weekdays during the summer from 5:00 to 9:00pm or Saturday and Sunday year
around to drop off recycling products. Maybe consider another location to drop off recycling
products. You haven’t completely eliminated the safety concern with appointments. Again, if
you make it difficult for people to recycle, they won’t do it.
Summary:
I understand that 12 Cities with Representatives are part of SOCRRA, and each person has a
vote. I would say to all 12 Representatives, be part of the solution with a can do attitude to
encourage recycling. If you don’t have a can do attitude towards making this program successful,
then resign and find something else to do. Our country throws away many products that could be
recycled and instead ends up in a landfill, lake, river or ocean. Shame on us as a society for not
trying to do our best and coming up with a bunch of flimsy excuses why we can’t recycle more
products.
The goal is to make our country a better place for everyone, including future generations. This
can only be accomplished with the right leaders. Are you one of those leaders?
Ok to share this email at your next meeting.
Page 3
SOCRRA Minutes
July 14, 2021 6766.
Thanks for listening,
Bob Ripstra
1613Charlevois
Troy, Mi. 48085
248-680-9763
-13190-
Motion by Mr. D. Schueller, supported by Mr. A. Filipski:
That the Agenda be approved as submitted.
ROLL CALL VOTE
Yeas: Schueller, Wilson, Markus, Hodges, Antosik, LeCureaux, Fortura, Mitchell,
DeCoster, Breuckman, Filipski, Bovensiep (65 votes)
Nays: None
Absent:
Motion carried.
-13191-
APPROVAL OF CONSENT AGENDA
Motion by Mr. K. Bovensiep, supported by Mr. A. LeCureaux:
That the Consent Agenda be approved.
APPROVAL OF MEETING MINUTES
That the minutes of the Regular Meeting of June 9, 2021 be approved as submitted.
APPROVAL OF WARRANT – NO. RA-823
That Warrant RA-823 in the amount of $2,526,606.25 be approved and payments authorized.
PURCHASE OF BALER WIRE
That, in accordance with the Authority’s Exception to Competitive Bidding section of our
Purchasing Policy, the Board confirms the purchase of 3-4 spools of baling wire from Accent
Wire Products, at a cost of $1.05 per pound.
INFORMATION REPORTS
That the monthly information reports be received and filed.
Page 4
SOCRRA Minutes
July 14, 2021 6767.
ROLL CALL VOTE
Motion carried.
-13192-
Motion by Mr. A. LeCureaux, supported by Mr. A. Filipski:
That the report on Operations Update be received and filed.
ROLL CALL VOTE
Yeas: Schueller, Wilson, Markus, Hodges, Antosik, LeCureaux, Fortura, Mitchell,
DeCoster, Breuckman, Filipski, Bovensiep (65 votes)
Nays: None
Absent: None
Motion carried.
-13193-
Motion by Mr. T. Markus, supported by Mr. A. LeCureaux:
That the report on the SOCRRA Drop-Off Center be received and filed.
ROLL CALL VOTE
Yeas: Schueller, Wilson, Markus, Hodges, Antosik, LeCureaux, Fortura, Mitchell,
DeCoster, Breuckman, Filipski, Bovensiep (65 votes)
Nays: None
Absent: None
Motion carried.
-13194-
That the Annual Actuarial Valuation Report, covering SOCRRA’s participation in the Michigan
Municipal Employees Retirement System (MERS), be received and filed.
Yeas: Schueller, Wilson, Markus, Hodges, Antosik, LeCureaux, Fortura, Mitchell,
DeCoster, Breuckman, Filipski, Bovensiep (65 votes)
Nays: None
Absent: None
Page 5
SOCRRA Minutes
July 14, 2021 6768.
ROLL CALL VOTE
Yeas: Schueller, Wilson, Markus, Hodges, Antosik, LeCureaux, Fortura, Mitchell,
DeCoster, Breuckman, Filipski, Bovensiep (65 votes)
Nays: None
Absent: None
Motion carried.
-13195-
Motion by Mr. A. LeCureaux, supported by Mr. A. Filipski:
That the report on Property and Liability Insurance be received and filed.
ROLL CALL VOTE
Yeas: Schueller, Wilson, Markus, Hodges, Antosik, LeCureaux, Fortura, Mitchell,
DeCoster, Breuckman, Filipski, Bovensiep (65 votes)
Nays: None
Absent: None
Motion carried.
-13196-
Motion by Mr. T. Markus, supported by Mr. K. Bovensiep:
That the report on the 2020/21 audit be received and filed.
ROLL CALL VOTE
Yeas: Schueller, Wilson, Markus, Hodges, Antosik, LeCureaux, Fortura, Mitchell,
DeCoster, Breuckman, Filipski, Bovensiep (65 votes)
Nays: None
Absent: None
Motion carried.
-13197-
Motion by Ms. Mitchell Theriot, supported by Mr. A. LeCureaux:
That the meeting be adjourned.
Page 6
SOCRRA Minutes
July 14, 2021 6769.
ROLL CALL VOTE
Yeas: Schueller, Wilson, Markus, Hodges, Antosik, LeCureaux, Fortura, Mitchell,
DeCoster, Breuckman, Filipski, Bovensiep (65 votes)
Nays: None
Absent: None
Motion carried.
The Chair ordered the meeting adjourned at 10:23 a.m.
APPROVED: ______________________
Chair
______________________
Secretary
SOCRRA
CHECK WARRANT
July 2021RRA 824
ACCT. 1009
CHECK # PAYEE AMOUNT PURPOSE
76699 Teamsters Local #214 928.00 Union Dues
76700 CCP industries 228.97 Supplies - CS
76701 Chet's Rent-All 295.93 Maintenance of Building - MH
76702 Michigan Cat 2,396.22 Maintenance of Equipment - TS
76703 Republic Services 2,156.75 Collection Contract
76704 RKA Petroleum Cos., Inc. 754.84 Fuel - CS
76705 Specialty Employment Services, Inc. 11,880.10 Temporary Staffing - MRF
76706 SOCWA 8,542.19 Reimburse SOCWA Payroll
76707 Fontenot Landscape Services LLC 31,870.00 Brush Chipping Contract
76708 Bandit Industries 673.86 Maintenance of Equipment - CS
76709 Alerus Financial 4,157.07 Deferred Contribution
76710 Metro Wireless 338.33 Internet/Security - MRF
76711 Parks Services 2,104.57 Maintenance of Property & Grounds - CS, TS
76712 Emily Tracht / Dylan Couture 600.00 Rental Refund
76713 David Powe 379.59 Conference/Travel Expense Reimbursement
76714 Car Trucking 112,119.40 Collection Contract
76715 Tringali Sanitation 95,372.58 Collection Contract
76716 Leadpoint 13,236.33 Temporary Staffing - MRF
76717 Car Trucking 93,249.99 Collection Contract
76718 Tringali Sanitation 5,440.00 Collection Contract
76719 Leadpoint 13,605.23 Temporary Staffing - MRF
76720 Tringali Sanitation 284,413.22 Collection Contract
76721 Tringali Sanitation 120.00 Collection Contract
76722 Tringali Sanitation 574.00 Collection Contract
76723 Davis Listman PLLC 1,075.87 Collection Contract
76724 Alta Equipment Company 154.40 Maintenance of Equipment - CS
76725 Cintas Corporation 138.37 Maintenance of Building - MRF
76726 Lucas Dean 446.80 Conference/Travel Expense Reimbursement
76727 Doetsch Industrial Services 1,600.00 Maintenance of Property & Grounds - TS
76728 Home Depot Credit Services 40.21 Supplies - CS
76729 J & J Ace Hardware 35.55 Maintenance of Equipment, Maintenance of Building - CS
76730 Latigo Transport, Inc. 4,347.00 Hauling Compost
76731 The City of Madison Heights 362.40 Utilities - MH
76732 O'Reilly Auto Parts 135.53 Maintenance of Equipment - CS
76733 The Print Stop Inc. 2,900.00 Yard Waste Stickers
SOCRRA
CHECK WARRANT
July 2021RRA 824
ACCT. 1009
CHECK # PAYEE AMOUNT PURPOSE
76734 Propane Services 1,259.00 Fuel - MRF
76735 RKA Petroleum Cos., Inc. 3,417.13 Fuel - CS
76736 Rose Pest Solutions 152.00 Maintenance of Property & Grounds - MRF, TS
76737 Specialty Employment Services, Inc. 4,536.59 Temporary Staffing - MRF
76738 Tringali Sanitation 425.00 Collection Contract
76739 21C Advertising 124.60 Notice of Public Hearing
76740 Waste Management of Michigan 1,695.40 Compost Reject Disposal
76741 SOCWA 14,374.24 Reimburse SOCWA for SOCRRA credit card charges
76742 RedGuard Fire & Security 309.00 Internet/Security - MRF
76743 Great Lakes Lubricants 763.00 Maintenance of Equipment - CS
76744 eCycle Opportunities, LLC 5,357.30 Electronics Recycling
76745 GFL Environmental USA (Adv) 303,858.02 Waste Disposal
76746 GFL Environmental 98,539.94 Collection Contract
76747 GFL Environmental 6,037.50 Collection Contract
76748 GFL Environmental 175.00 Collection Contract
76749 City Of Huntington Woods 1,097.00 Refund for Overpayment
76750 Car Trucking 43,208.18 Collection Contract
76751 Leadpoint 14,942.32 Temporary Staffing - MRF
76752 ERG Environmental Services 24,785.45 Collection Contract
76753 Tringali Sanitation 11,261.52 Collection Contract
76754 Tringali Sanitation 91,721.82 Collection Contract
76755 Tringali Sanitation 5,166.00 Collection Contract
76756 Batteries Plus 39.49 Maintenance of Building - MRF
76757 Cintas Corporation 425.11 Maintenance of Building - MRF
76758 D P Brown of Detroit Inc 1,589.75 Maintenance of Equipment - MRF
76759 J & J Ace Hardware 13.85 Maintenance of Building - CS
76760 John R. Spring & Tire Center 16.90 Maintenance of Equipment - TS
76761 M & K Trucking 619.29 Maintenance of Equipment - TS
76762 William Munroe 111.38 Retiree Health Insurance Premium Reimbursement
76763 Propane Services 626.60 Fuel - MRF
76764 Resource Recycling Systems, Inc. 3,910.00 Recycling Consulting
76765 RKA Petroleum Cos., Inc. 7,313.73 Fuel - MRF, TS, CS
76766 Setco Inc. 3,784.06 Maintenance of Equipment - TS
76767 Southfield Muffler & Brake 887.69 Maintenance of Equipment - CS
76768 Supply Den 569.70 Cleaning Supplies - MRF
SOCRRA
CHECK WARRANT
July 2021RRA 824
ACCT. 1009
CHECK # PAYEE AMOUNT PURPOSE
76769 Teamsters Local #214 909.00 Union Dues
76770 Terminal Supply Co. 117.61 Tools - MRF
76771 Total Packaging Concepts 1,700.00 Supplies - MRF
76772 Uline 418.82 Personal Safety Equipment - TS
76773 SOCWA 10,763.02 Reimburse SOCWA Vacation/PTO Expenses July 2020 - January 2021
76774 Leadpoint 14,418.38 Temporary Staffing - MRF
76775 IDF Clean-up Inc 5,000.00 Equipment Rental - MRF
76776 Alerus Financial 78.54 Deferred Compensation
76777 Speed Tech Equipment 220.00 Maintenance of Equipment - MRF
76778 United States Treasury 37.24 Annual PCORI fees
76779 GFL Environmental 97,000.00 Collection Contract
76780 Tringali Sanitation 23,063.00 Collection Contract
76781 GFL Environmental 60,728.97 Collection Contract
76782 Tringali Sanitation 49,778.28 Collection Contract
76783 Tringali Sanitation 1,148.00 Collection Contract
76784 Tringali Sanitation 574.00 Collection Contract
76785 Tringali Sanitation 574.00 Collection Contract
76786 Tringali Sanitation 4,305.00 Collection Contract
76787 Tringali Sanitation 2,296.00 Collection Contract
76788 Tringali Sanitation 3,444.00 Collection Contract
76789 Accent Wire Holdings, LLC 6,427.52 Baler Expenses - MRF
76790 Interstate Billing Services, Inc 0.00 Voided Check
76791 Latigo Transport, Inc. 9,469.00 Hauling Compost
76792 Machinex Technologies Inc 4,882.60 Maintenance of Equipment - MRF
76793 Michigan Cat 6,497.95 Maintenance of Equipment - MRF
76794 Michigan Municipal Risk Management Authority ECP 10,032.71 Utilities - MRF, TS
76795 Specialty Employment Services, Inc. 7,801.66 Temporary Staffing - MRF
76796 Fontenot Landscape Services LLC 25,496.00 Brush Chipping Contract
76797 Leadpoint 14,941.97 Temporary Staffing - MRF
76798 Strategic Materials, Inc 19,133.36 Glass Recycling
76799 Michigan Conference of Teamsters Welfare Fund 15,512.40 Health Insurance
76800 GFL Environmental USA (Adv) 271,935.69 Waste Disposal
76801 Car Trucking 93,249.99 Collection Contract
76802 GFL Environmental 7,950.00 Collection Contract
76803 Tringali Sanitation 286,053.49 Collection Contract
SOCRRA
CHECK WARRANT
July 2021RRA 824
ACCT. 1009
CHECK # PAYEE AMOUNT PURPOSE
76804 SOCWA 9,393.95 Reimburse SOCWA Payroll
76805 ERG Environmental Services 48,880.13 HHW & Electronics Service
76806 Car Trucking 113,494.90 Collection Contract
76807 GFL Environmental 98,759.20 Collection Contract
76808 Tringali Sanitation 16,288.17 Collection Contract
76809 SOCWA 9,148.06 Reimburse SOCWA Payroll
76810 ERG Environmental Services 49,006.54 HHW & Electronics Service
76811 Car Trucking 43,208.18 Collection Contract
76812 GFL Environmental 97,000.00 Collection Contract
76813 Tringali Sanitation 61,557.79 Collection Contract
76814 ERG Environmental Services 24,795.82 HHW & Electronics Service
76815 Tringali Sanitation 13,489.00 Collection Contract
76816 Interstate Billing Services, Inc 171.10 Maintenance of Equipment - MRF
76817 Interstate Billing Services, Inc 7,698.29 Maintenance of Equipment - MRF
76818 Airgas USA, LLC 248.96 Supplies - CS, TS
76819 Resource Recycling Systems, Inc. 4,030.00 Recycling Consulting
76820 S.D.M. Enterprises, Inc. 238.00 Maintenance of Equipment - CS
76821 Standard Insurance Company 534.45 Life Insurance
76822 Bandit Industries 1,817.76 Maintenance of Equipment - CS
EPAY Alerus Financial 18,455.83 Defined Benefit
EPAY Comcast 794.61 Internet/Security
EPAY DTE 260.91 Electric Service
EPAY Flagstar 1,995.73 Credit Card
EPAY WOW! Business 236.40 Internet/Security
EPAY Consumers Energy 98.36 Natural Gas
3,027,347.20
ACCT. 1013
CHECK # PAYEE AMOUNT PURPOSE
6438 The Huntington National Bank 4,129.24 Screener Payment - CS
6439 The Huntington National Bank 4,129.24 Screener Payment - CS
4,129.24
SOCRRA
CHECK WARRANT
July 2021
ACCT. 1001
CHECK # PAYEE AMOUNT
2064-2071 Employee Optical/Dental Reimbursements 9,744.23 Employee Reimbursements
9,744.23
SUMMARY OF PAYMENTS
1009 Operation & Maintenance Fund 3,027,347.20
1013 Improvement Fund 4,129.24
1001 Dental/Optical Fund 9,744.23
3,041,220.67
I HEREBY CERTIFY THAT I HAVE EXAMINED THE INVOICES COVERED BY THE ABOVE VOUCHERS FOR RECEIPT OF MATERIALS OR SERVICES RENDERED
AND THAT THE PRICES AND COMPUTATIONS ARE CORRECT.
__________________________________________ _____________________________________________
Treasurer General Manager
_____________________________________________
Secretary
The payments listed above were presented to the board of Trustees and were reviewed with no objection August 11, 2021.
4-C
July 27, 2021
Board of Trustees
SOCRRA
Subject: Michigan Municipal Employees' Retirement System - Annual Meeting
Board Members:
The Annual Meeting of the Michigan Municipal Employees' Retirement System will be held on
October 7-8, 2021 at the Amway Grand Plaza Hotel in Grand Rapids, Michigan.
It is proposed that the employee delegate and the officer delegate attend the meeting. If either
delegate were unable to attend, the alternate would represent SOCRRA.
It is recommended that the Board adopt the attached resolution, providing for the employee and
officer delegates to participate in the Michigan Municipal Employees' Retirement System
Annual Meeting.
Submitted by:
_________________________
Anne Farris
Human Resources Associate
Approved by:
_______________________
Jeffrey A. McKeen, P.E.
General Manager
AF
Attach.
Suggested Resolution: “That the attached resolution be adopted.”
SOCRRA
PROPOSED RESOLUTION
Delegate and Alternate
Annual Retirement System Meeting
WHEREAS, the Michigan Municipal Employees' Retirement System will hold its Annual
Meeting at the Amway Grand Plaza Hotel in Grand Rapids, Michigan on October 7-8, 2021, and
WHEREAS, SOCRRA employees elected by secret ballot Lucas Dean as delegate and Chris
Noel as alternate to represent the employees of SOCRRA at this Annual Meeting;
NOW THEREFORE BE IT RESOLVED, that the Secretary be directed to notify the Michigan
Municipal Employees' Retirement System of the employees' selection of Delegate and Alternate,
and
BE IT FURTHER RESOLVED, that this Board does hereby appoint Anne Farris as Officer
Delegate to represent SOCRRA.
4-E
August 3, 2021
Board of Trustees
SOCRRA
Subject: Investments – July 2020 – June 2021
Board Members:
Attached is a list of the investments made by the Authority during the period July 1, 2020 through
June 30, 2021. These investments are in compliance with Act 79 of the Public Acts of 1979.
The Board of Trustees has authorized the General Manager to enter into agreements with Comerica,
Michigan First CU, Flagstar, PNC, The Oakland County Local Government Investment Pool and
Ambassador Capital Management for the investment of surplus funds as provided for in Public Act 367.
The attached list shows the interest made from these investments:
Fiscal Year
Interest
Earned
2010/11 20,447
2011/12 24,467
2012/13 22,636
2013/14 26,559
2014/15 23,483
2015/16 24,610
2016/17 67,040
2017/18 86,747
2018/19 71,581
2019/20 10,885
2020/21 28,656
The investment policy followed by the Authority is to have 90% or more of all available funds invested.
On June 30, 2021 the Authority had 99.9% of all funds invested and accruing interest.
It is recommended that this report be received and filed and made a part of the Board record.
Submitted by:
_________________________
Amy C. McIntire
Accountant-Treasurer
Approved by:
________________________
Jeffrey A. McKeen, P.E.
General Manager
Attach.
Suggested Resolution: "That the report on investments made by the Authority during the period
July 1, 2020 through June 30, 2021 be received and filed and made a part of the Board record."
SOCRRA INVESTMENTS FY 20/21
July August September October November December January February March April May June Total
SOCRRA RECEIVING FUND 1008 Flagstar 45.15 48.93 78.02 45.06 55.06 92.65 31.61 44.58 40.31 48.13 50.49 78.90 658.89
SOCRRA O & M FUNDS 1009 Flagstar 2.12 2.12 1.28 1.27 1.23 1.27 1.27 1.13 1.27 1.23 1.27 1.23 16.69
SOCRRA ICS Sweep 1009 B ICS 46.32 59.86 36.21 35.52 32.60 35.42 38.28 59.77 45.72 25.12 34.46 21.86 471.14
FLAGSTAR CART FUND 1130 Flagstar 115.63 102.15 73.72 72.33 70.01 70.07 54.74 49.45 54.76 53.00 54.78 51.37 822.01
FLAGSTAR SAVINGS 1115 Flagstar 84.73 74.85 54.01 53.00 51.30 53.02 53.18 48.04 53.20 51.49 53.22 51.52 681.56
FLAGSTAR Development CD 1125 Flagstar 0.00 0.00 0.00 0.00 178.89 0.00 0.00 0.00 0.00 0.00 0.00 0.00 178.89
LONG TERM INVESTMENT 1055 Michigan First 107.77 107.80 104.34 107.84 104.39 107.89 107.91 97.49 107.95 62.70 64.79 62.71 1,143.58
MMRMA INVESTMENT 1155 MMRMA 0.00 0.00 0.00 0.00 3,992.37 0.00 0.00 3,839.75 0.00 0.00 3,622.41 3,340.92 14,795.45
OAKLAND COUNTY SAVINGS 1110 Oakland County 785.78 757.21 624.51 1,336.60 1,077.64 365.57 770.97 457.05 614.02 1,162.11 1,120.39 620.57 9,692.42
PNC LONG TERM INVESTMENT 1105 PNC 10.53 9.45 2.04 2.04 2.11 2.11 1.98 1.91 2.25 2.04 1.91 2.25 40.62
ZION BANK RESERVE FUND 1006 Zion Bank 25.55 19.06 8.84 8.26 8.53 8.26 12.80 12.75 9.97 10.68 10.68 11.04 146.42
ZION BANK SERIES A B FUND 1004 Zion Bank 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ZION BANK BOND & INT REDEMPTION 1010 Zion Bank 2.30 0.42 0.19 0.18 0.19 0.18 1.92 1.97 0.27 0.29 0.29 0.60 8.80
1,225.88 1,181.85 983.16 1,662.10 5,574.32 736.44 1,074.66 4,613.89 929.72 1,416.79 5,014.69 4,242.97 28,656.47
4-F
August 4, 2021
Board of Trustees
SOCRRA
Subject: Rental Property Report
Board Members:
Attached is the rental property report for the fiscal years 2019/20 and 2020/21. This report
covers the ten homes that were purchased by the Authority under the terms of the Consent
Judgment. The 2020/21 report shows an overall rate of return of 2.4% on the initial investment,
which is a decrease from the 5.7% return obtained for 2019/20. In comparing the two fiscal
years:
• Revenues decreased by $8,444 (6.6%) due to several properties being vacant for a few
months. We did have one tenant that stopped paying rent, but they moved out as we were
beginning eviction proceedings. As of the beginning of August, one property was vacant.
This house incurred significant smoke and water damage due to an arson fire early this
summer. This house is currently being repaired and we believe that the repair costs will
be covered by our insurance. Other than the one tenant discussed previously, we have
not had any issues with missed rent payments. We have waived a few late payment fees
to assist our tenants during the pandemic.
• Maintenance expenses increased by $38,051. We had a high level of tenant turnover in
2020/21, which served to increase maintenance expenses. We are continuing to conduct
routine maintenance at all the homes and performing any improvements recommended by
our property manager as new renters arrive.
• Property management fees decreased by $284 (2%) due to the lower rental payments
which were partially offset by higher fees paid as new tenants signed leases.
• Taxes were basically unchanged.
The property manager that we hired in August of 2015 continues to perform well. He has rented
our homes at market prices, which were significantly higher than the rents that we were
charging. The property manager has maximized the revenue generated by our properties and has
largely removed SOCRRA and SOCWA personnel from the administration and maintenance of
these properties.
I am recommending that this report be received and filed.
Respectfully Submitted,
Jeffrey A. McKeen, P.E.
General Manager
Suggested Resolution: “That the Rental Property Report be received and filed.”
SOCRRA RENTAL PROPERTY YEARLY ANALYSIS
2020/2021 Revenue $119,962.00
1430 Parke 1650 School 1750 School 1770 School 1790 School 1690 School 1670 School 1774 School 1730 School 1401 School Totals
Parcel ID# 70-15-
24-401- 057 010 083 026 029 080 011 075 082 025 Expenses $40,527.35
Purchase Price 110,285.07 64,208.66 180,932.65 83,524.71 70,518.49 205,846.99 170,672.12 91,566.86 183,997.31 295,077.00 1,456,629.86 Mgt Fees $13,637.00
Revenue 14,450.00 8,900.00 14,082.00 13,100.00 9,200.00 15,600.00 18,000.00 2,700.00 16,080.00 7,850.00 119,962.00 Annual Taxes$30,329.66
Expense 647.00 2,869.70 14,197.92 12,413.98 58.98 195.00 0.00 0.00 5,200.00 4,944.77 40,527.35 Net $35,467.99
Mgmt Fee 1,445.00 1,565.00 1,088.00 2,435.00 880.00 1,560.00 1,800.00 270.00 1,814.00 780.00 13,637.00
Taxes 2,757.73 1,874.31 4,948.55 2,226.61 1,746.56 4,593.85 4,411.52 815.02 3,655.86 3,299.65 30,329.66
NET 9,600.27 2,590.99 -6,152.47 -3,975.59 6,514.46 9,251.15 11,788.48 1,614.98 5,410.14 -1,174.42 35,467.99
% of purchase price 8.70% 4.04% -3.40% -4.76% 9.24% 4.49% 6.91% 1.76% 2.94% -0.40% 2.43%
2019/2020
ADDRESSES Revenue $128,406.00
1430 Parke 1650 School 1750 School 1770 School 1790 School 1690 School 1670 School 1774 School 1730 School 1401 School TotalsParcel ID# 70-15-
24-401- 057 010 083 026 029 080 011 075 082 025 Expenses $1,476.19
Purchase Price 110,285.07 64,208.66 180,932.65 83,524.71 70,518.49 205,846.99 170,672.12 91,566.86 183,997.31 295,077.00 1,456,629.86 Mgt Fees $13,920.60
Revenue 14,400.00 5,600.00 20,400.00 13,750.00 9,600.00 15,582.00 18,000.00 2,475.00 15,999.00 12,600.00 128,406.00 Annual Taxes$30,314.80
Expense 175.00 100.00 0.00 215.00 0.00 180.19 806.00 0.00 0.00 0.00 1,476.19 Net $82,694.41
Mgmt Fee 1,440.00 560.00 2,040.00 1,375.00 960.00 1,558.20 1,800.00 247.50 1,599.90 2,340.00 13,920.60
Taxes 2,756.43 1,873.49 4,945.83 2,225.52 1,745.77 4,591.12 4,409.23 815.95 3,654.01 3,297.45 30,314.80
NET 10,028.57 3,066.51 13,414.17 9,934.48 6,894.23 9,252.49 10,984.77 1,411.55 10,745.09 6,962.55 82,694.41
% of purchase price 9.09% 4.78% 7.41% 11.89% 9.78% 4.49% 6.44% 1.54% 5.84% 2.36% 5.68%
SOCRRA TONNAGE ANALYSIS - JULY 2021
MSW Compost Recyclables Total
2019 2020 2021 2019 2020 2021 2019 2020 2021 2019 2020 2021
Municipality
Berkley 518.12 574.29 641.69 136.68 139.34 218.23 117.21 141.19 141.99 772.01 854.82 1,001.91
Beverly Hills 377.34 310.48 327.88 190.00 138.75 170.00 114.19 94.88 88.27 681.53 544.11 586.15
Birmingham 763.38 921.26 998.85 219.20 218.54 190.83 212.12 234.93 234.64 1,194.70 1,374.73 1,424.32
Clawson 482.38 533.97 405.04 120.00 135.00 120.00 88.03 91.64 71.90 690.41 760.61 596.94
Ferndale 957.49 1,047.11 993.81 207.50 186.88 198.75 181.56 158.07 179.41 1,346.55 1,392.06 1,371.97
Hazel Park 639.32 709.64 747.36 156.92 174.00 171.00 85.39 80.27 88.50 881.63 963.91 1,006.86
Huntington Woods 196.77 201.09 163.82 100.00 63.75 72.50 79.70 72.75 68.31 376.47 337.59 304.63
Lathrup Village 177.23 155.52 150.56 83.75 40.00 35.81 35.38 21.64 28.17 296.36 217.16 214.54
Oak Park 823.18 1,139.39 1,171.12 198.75 171.25 183.75 108.03 153.83 132.02 1,129.96 1,464.47 1,486.89
Pleasant Ridge 93.42 79.09 67.70 45.00 37.50 27.50 29.88 28.55 26.04 168.30 145.14 121.24
Royal Oak 2,161.25 2,077.63 2,125.76 653.75 882.00 696.17 520.70 489.98 499.82 3,335.70 3,449.61 3,321.75
Troy 2,622.15 2,574.37 2,478.16 930.00 775.83 852.08 549.67 537.14 504.10 4,101.82 3,887.34 3,834.34
9,812.03 10,323.84 10,271.75 3,041.55 2,962.84 2,936.62 2,121.86 2,104.87 2,063.17 14,975.44 15,391.55 15,271.54
Other Customers 2,615.49 3,621.07 4,223.25 36.04 0.00 0.00 501.50 852.85 610.27 3,153.03 4,473.92 4,833.52
Authority 12,427.52 13,944.91 14,495.00 3,077.59 2,962.84 2,936.62 2,623.36 2,957.72 2,673.44 18,128.47 19,865.47 20,105.06
4-G-1
MSW Compost Recyclables
Percentage of City's Percentage of City's Percentage of City's
Total Waste Stream Total Waste Stream Total Waste Stream
Municipality
Berkley 64% 22% 14%
Beverly Hills 56% 29% 15%
Birmingham 70% 13% 17%
Clawson 68% 20% 12%
Ferndale 72% 15% 13%
Hazel Park 74% 17% 9%
Huntington Woods 54% 24% 22%
Lathrup Village 70% 17% 13%
Oak Park 79% 12% 9%
Pleasant Ridge 56% 23% 21%
Royal Oak 64% 21% 15%
Troy 65% 22% 13%
SOCRRA TONNAGE PERCENTAGES
July 2021
4-G-2
SOCRRA
INCOME STATEMENT
07/01/21..07/31/21
Actual-Period Budget-Period Variance
REVENUES
MEMBER MSW 1,749,303.83 1,718,037.00 31,266.83
MONTHLY SURCHARGE 94,001.00 94,001.00 0.00
NON-MEMBER MSW 156,434.23 150,000.00 6,434.23
NON-MEMBER YARD WASTE 170.00 8,000.00 -7,830.00
1,999,909.06 1,970,038.00 29,871.06
SALE OF RECYCLED MATERIAL
MIXED PAPER 71,981.52 36,000.00 35,981.52
NEWSPAPER 0.00 6,000.00 -6,000.00
CARDBOARD 90,557.69 50,000.00 40,557.69
SORTED OFFICE PAPER 0.00 0.00 0.00
PLASTICS 41,929.22 27,000.00 14,929.22
SCRAP METAL 16,760.86 6,000.00 10,760.86
ALUMINUM CANS 17,880.60 8,000.00 9,880.60
TIN CANS 14,086.74 9,000.00 5,086.74
MIXED RECYCLING - OTHERS 41,933.54 57,000.00 -15,066.46
GLASS 0.00 0.00 0.00
BATTERIES 0.00 0.00 0.00
ELECTRONICS 0.00 0.00 0.00
295,130.17 199,000.00 96,130.17
OTHER INCOME
COMPOST 24,290.00 10,000.00 14,290.00
RENTAL INCOME 9,340.00 10,500.00 -1,160.00
INTEREST ON INVESTMENTS 574.77 2,500.00 -1,925.23
MISC INCOME 2,460.00 2,000.00 460.00
36,664.77 25,000.00 11,664.77
TOTAL REVENUES 2,331,704.00 2,194,038.00 137,666.00
EXPENSES
MADISON HEIGHTS TRANSFER STATION 236.40 18,280.00 -18,043.60
TROY TRANSFER STATION 43,017.24 58,800.00 -15,782.76
MATERIAL RECOVERY FACILITY 62,461.11 192,716.00 -130,254.89
HOUSEHOLD HAZARDOUS WASTE 4,456.37 45,362.00 -40,905.63
COMPOST FACILITY 24,171.77 50,081.00 -25,909.23
ADMINISTRATIVE AND GENERAL 102,609.21 178,229.00 -75,619.79
COLLECTION CONTRACT EXPENSES 175.00 0.00 175.00
IN TRANSIT 1,508,220.08 1,463,683.00 44,537.08
1,745,347.18 2,007,151.00 -261,803.82
REVENUE OVER EXPENSES 586,356.82 186,887.00 399,469.82
4-G-3
SOCRRA
FINANCIAL STATUS SUMMARY
JULY 2020 - JULY 2021
Date Unrestricted Cash Working Capital % of Goal
7/31/2020 2,187,992 2,857,152 164.7%
8/27/2020 2,617,688 1,702,908 98.2%
9/30/2020 3,011,144 1,442,024 83.1%
10/30/2020 2,633,584 1,261,899 72.7%
11/30/2020 2,712,203 1,254,805 72.3%
12/30/2020 2,201,967 833,464 48.1%
1/29/2021 2,408,230 1,511,689 87.1%
2/26/2021 2,342,591 1,601,057 92.3%
3/31/2021 2,388,772 1,246,665 71.9%
4/30/2021 2,699,926 1,292,921 74.5%
5/28/2021 2,687,643 1,454,798 83.9%
6/30/2021 2,560,102 1,159,548 66.8%
7/30/2021 2,487,150 1,265,957 71.7%
4-G-4
COMPOST PRODUCED & DELIVERED
October 1, 2020 to July 31, 2021
Finished Compost
Community Received (cu. yds.) Estimated Value
Berkley 680 $10,197
Beverly Hills 280 $4,203
Birmingham 520 $7,803
Clawson 580 $8,703
Ferndale 1,020 $15,300
Hazel Park 1,000 $15,003
Huntington Woods 400 $6,003
Lathrup Village 126 $1,890
Oak Park 580 $8,703
Pleasant Ridge 240 $3,600
Royal Oak 880 $13,203
Troy 961 $14,409
7,268 $109,017
SOCRRA activities 0 $0
Rochester Hills residents 313 $4,695
Cash Customers 1,021 $15,316
Account Customers 15,040 $150,400
Donations 44 $660
TOTAL YARDS 16,418
4-G-5
5-A
August 5, 2021
Board of Trustees
SOCRRA
Subject: Summary of 2020/21 Operations
Board Members:
This report summarizes the results from the 2020/21 fiscal year. The revenue and expense
information included in this report is preliminary, with a few additional revenue and expenses
items still not received. The financial information also remains subject to our annual audit.
MATERIAL HANDLED
The Authority processed 227,931 tons of material in 2020/21. This was 6,495 tons (2.9%) more
than the amount of material processed in 2019/20. Recycling tonnage received from the member
communities increased by 1.7% from 2019/20. The total amount of refuse received from the
member communities increased by 6,454 tons (6.1%). Part of this increase is probably due to the
pandemic. This was the second consecutive year of increasing refuse tonnage. Refuse received
from non-members increased by 3,259 tons (9.2%) The amount of yard waste received from the
member communities decreased by 3,073 tons (6.5%). The material processed is summarized
below:
Actual
2020/21
Budget
2020/21
Actual
2019/20
MSW
Member 112,207 103,335 105,753
Non-member 38,594 40,000 35,335
Yard Waste
Member 43,990 41,422 47,063
Non-member 18 1,080 284
Recyclables
Member 24,677 25,181 24,254
Non-member 8,446 9,600 8,066
TOTAL 227,931 220,619 221,436
% recycled 14.3% 15.8% 14.6%
% composted 19.3% 19.3% 21.4%
REVENUE
For the 2020/21 fiscal year, we recorded revenue of $25,764,936 which is $12,000 below budget.
The revenue results are summarized below:
Actual
2020/21
Budget
2020/21
Actual
2019/20
REVENUE
Member refuse $20,399,599 $20,113,606 $19,695,869
Member surcharge 1,128,012 1,128,012 1,128,012
Non-member refuse 1,408,465 1,800,000 1,398,488
Yard waste non-member 18,295 70,000 59,396
Sale of Recyclables 1,840,323 1,565,000 1,264,334
Processing Recyclables 622,175 750,000 593,256
Compost Sales 157,351 150,000 189,441
Interest 24,530 50,000 57,116
Rental Homes 119,962 125,000 130,851
Miscellaneous 46,224 25,000 196,500
TOTAL $25,764,936 $25,776,618 $24,713,162
REVENUE, ACTUAL vs. BUDGET
Actual revenue was $11,682 (much less than 1%) below budget. This decrease is primarily due
to decreases in:
• Non-member refuse (-$391,000), due to lower than planned tonnage from Tringali
Sanitation, GFL Environmental Services, Car Trucking, Dinverno and the loss of
Advanced Disposal as a customer following their acquisition by GFL.
• Revenue for processing recyclables from other communities (-$128,000).
• Non-member yard waste (-$52,000) due to the closure of the Madison Heights Transfer
Station.
• Interest income (-$25,000) due to lower interest rates.
• Rental income (-$5,000) due to vacancies in some of our rental properties adjacent to the
Compost Site.
These decreases were partially offset by increases in:
• Member revenue (+$286,000) due to additional services for the member communities.
• Revenue from the sale of our recycled materials (+$275,000), due to significantly higher
than budgeted prices for all recycled materials for the latter part of 2020/21.
• Higher miscellaneous income (+$21,000).
• Sale of compost (+$7,000).
The total revenue received from non-member sources was $4,237,325 in 2020/21 and was 16.5%
of total revenue. This was higher than previous years due to the increase in the prices for
recycled commodities.
REVENUE, ACTUAL 2020/21 vs. ACTUAL 2019/20
Revenue in 2020/21 was $1,052,000 higher than revenue in 2019/20. This increase was
primarily due to increases in:
• Member revenue (+$704,000) due to the July 1, 2020 rate increase.
• Revenue from the sale of recyclables (+$576,000) due to significantly higher commodity
prices.
• Recycling revenue from other communities (+$29,000), and
• Non-member refuse (+$10,000) due to increased tonnage.
These increases were partially offset by decreases in
• Miscellaneous revenue (-$150,000).
• Non-member yard waste (-$41,000) due to the closure of our Madison Heights Transfer
Station.
• Interest income (-$33,000) due to lower interest rates.
• Compost Sales (-$32,000), and
• Rental income (-11,000) due to rental vacancies.
EXPENSES
OPERATING EXPENSES
Actual
2020/21
Budget
2020/21
Actual
2019/20
Madison Heights Transfer Station $162,642 $311,300 322,949
Troy Transfer Station 4,088,313 3,866,800 3,994,394
MRF 2,301,863 2,315,400 2,407,130
HHW 613,992 538,800 549,386
Compost Site 494,320 613,200 567,039
Administrative & General 1,371,686 1,349,800 1,305,382
Collection Contract Expenses 14,651,809 14,137,000 14,348,803
Bond Principal and Interest 1,333,675
1,333,675 1,312,700
Total $25,018,300 $24,465,975 $24,807,782
EXPENSES, ACTUAL vs. BUDGET
Operating expenses for 2020/21 were $552,325 higher than budget. This is primarily due to
higher expenses for contract services (+$759,000), non-labor Administrative and General
expenses (+$44,000) and utilities (+$19,000) which were partially offset by decreases in labor
(-$166,000), maintenance (-$84,000), supplies (-$11,000) and environmental testing (-$8,000).
CAPITAL EXPENSES
Capital expenditures for 2020/21 totaled $419,000 and were for the final payment for a new
loader at the Compost Site ($155,000), the purchase of a loader for the Troy Transfer Station
($108,000), the rehabilitation of the Troy Transfer Station ($51,000), payments for the new
compost screener for the compost site ($50,000), the purchase of a new pickup truck ($30,000),
the purchase of rolloffs for the MRF and Troy Transfer Station ($22,000) and the renovation of
the Madison Heights Transfer Station ($4,000).
NET INCOME AND BOND COVERAGE
Net income before depreciation was $2.1 million which was $564,000 below budget. This
resulted in 156% coverage of our bond principal and interest payments. This is the first year that
our coverage was over 100% since 2016/17.
Respectfully submitted,
Jeffrey A. McKeen, P.E.
General Manager
Suggested Resolution: “That the Summary of 2020/21 operations be received and filed.”
5-B
August 5, 2021
Board of Trustees
SOCRRA
Subject: Operations Update
Board Members:
SOCRRA operations have continued in a normal fashion during July.
Collection
All three collection contractors were able to remain on schedule throughout July although all three
contractors are running later into the evening than has been typical in recent years. Heavy rainfall over
the weekend of July 24-25 resulted in flood debris primarily in Birmingham and to a lesser extent in
Berkley and Ferndale. Car Trucking responded extremely well to the flood debris in Birmingham by
coming into the city on the day before their typical collection days, running the routes multiple times
during the day to collect additional flood debris as it was brought to the curb and working Saturday.
The frequent flooding events this year have pointed out the need for a standard flood procedure so that
the contractors, the member communities and SOCRRA are all on the same page with how to address
the debris caused by flooding. We will be working with our contractors to develop this procedure.
July 2021 had one fewer collection day than July 2020. Therefore, we expected to see 4.4% tonnage
decreases for the month of July. While tonnages decreased slightly, the decreases were less than
anticipated. This was partially due to flood debris during the last week in July. Refuse tonnage from
the member communities decreased by 0.5% from July of 2020 and recycling tonnage from the
member communities decreased by 2.0%.
2021 tons 2020 tons % change
Refuse 10,272 10,324 - 0.5%
Recycling 2,063 2,105 - 2.0%
Yard Waste 2,937 2,963 - 0.9%
TOTAL 15,272 15,392 - 0.8%
SOCRRA Operations
SOCRRA operations at the Transfer Station were normal throughout July. GFL is routinely meeting
their contractual requirements although they did have an issue for one day on July 15. This appeared
to be due to a combination of high incoming tonnage on July 14 and 15, trash deliveries taking place
after 6:00 PM, mechanical issues with one of our compactors and GFL driver issues. GFL promptly
fixed their issues the next day and they were able to successfully handle the refuse tonnage for the
remainder of the month despite the contactor deliveries being routinely later in the day throughout the
month.
The amount of non-SOCRRA trash was 17% higher in July 2021 compared with July 2020 and was
69% higher than budgeted.
Leadpoint has hired a new onsite supervisor at the MRF, and he appears to be working out well so far.
Leadpoint is slowly increasing the number of sorters on site although they remain significantly
understaffed. We are not producing the 56 News grade of paper and the level of container sorting
fluctuates with the available sorter staffing. This has also resulted in an increase in the amount of
reject material from the MRF.
The recycling from Auburn Hills is no longer being processed at our MRF because Auburn Hills
changed collection contractors as of August 1. Auburn Hills changed to GFL as the result of a
significantly lower pricing provided by GFL. Waste Management was the incumbent collection
contractor. We will not be marketing excess MRF capacity until Leadpoint improves their sorter
staffing level.
We are working with RRS, Machinex and other robot suppliers to develop a plan for the use of
robotics at the MRF to allow us to increase the amount of recovered material. We have some money in
the capital improvement budget for 2021/22 and we will be applying for a grant from EGLE in August
for part of the costs of installing robotics.
We are also interviewing for new SOCRRA employees at the MRF. We currently have two open
positions. Please let us know if you are aware of any good candidates for entry level positions.
The prices for our recycled commodities further improved across all commodities in July. Paper prices
for August have increased by 10% to 24% from July prices to new record levels. Plastic prices have
stabilized for August. Prices remain at or close to record levels across all commodities except glass.
The prices we are currently receiving are substantially higher than those used to develop the budget for
2021/22.
The status of the recycling drop-off center is discussed later in this agenda.
The Compost Site is operating in a normal manner. As discussed above, our Compost Site staff is
regularly extending their hours beyond the 5:00 PM time specified in our contracts to accommodate
late yard waste deliveries by the collection contractors.
The SOCRRA office remains open with the office staff working from home one day per week. We are
continuing the enhanced cleaning and sanitizing procedures and Oakland County’s daily screening
protocol for all employees.
We did not have any employee health issues during July. We are continuing to work on our
unvaccinated employees, but we have only made modest progress.
SOCRRA staff, especially Bob Jackovich, Colette Farris, Anne Farris, Todd Rickerd and Lucas Dean,
continues to do a great job in handling the many issues that have arisen over the past several months.
While operations have been normal, it continues to be a lot of work to keep them that way! Their
continued contributions are greatly appreciated.
Respectfully submitted,
Jeffrey A. McKeen, P.E.
General Manager
Suggested Resolution: “That the report on Operations Update be received and filed.”
5-C
August 5, 2021
Board of Trustees
SOCRRA
Subject: SOCRRA Drop-Off Center
Board Members:
We increased the number of drop-off appointments to 156 per day as of July 15. We are also
continuing to make new appointments available throughout the day rather than open the entire
day at one time. This includes opening 28 next day appointments every day. These changes
have resulted in appointments being routinely available throughout the day and have greatly
reduced the number of resident complaints we are receiving. We continue to have approximately
20% of the residents that make appointments not showing up for their appointment. This
percentage has been remarkably consistent for several months. We are continuing to closely
monitor all aspects of the HHW appointments.
We provided 280 appointments on Saturday, July 17. This number seemed too high as we had
some complaints from residents about wait times. Based on this experience, we are providing
238 appointments for Saturday, August 14. We are opening these appointments in batches
during the weeks of August 2 and August 9. We will also be providing Saturday appointments
several times each month during the remaining months of this year.
SPECIAL EVENTS
We are re-evaluating our plans for special events for the fall. While our events this spring went
very well, we did not obtain the number of participants that we had planned for. We will also be
working with the member communities to discuss community specific events this fall. Fall
events are being planned for Ferndale and Lathrup Village.
ALTERNATIVE DROP-OFF OPTIONS
We are continuing to provide several alternative locations for drop-off services. All services are
at no cost to the residents and do not require appointments. The details are attached and are also
available on our website at https://www.socrra.org/news/2020/5/28/alternatives-for-hazardous-
waste-electronics-and-paper-shredding.
The summary version is:
• Electronics can be brought to e-Cycle Opportunities (JVS) in Southfield or ERG in
Livonia.
• Household Hazardous Waste can be brought to ERG in Livonia. Monday – Friday drop-
off can be done with no appointment.
• Paper, cardboard, scrap metal and paper shredding can be brought to GFL Environmental
in Royal Oak.
• Plastic bags can be returned to the Target, Kroger and Kohls stores located immediately
north of the MRF, in the Meijer store immediately east of the MRF and at other Target,
Kroger, Kohls and Meijer stores in the area.
Respectfully submitted,
Jeffrey A. McKeen, P.E.
General Manager
Suggested Resolution: “That the report on the SOCRRA Drop-Off Center be received and filed.”
SOCRRA ⚫ 3910 W. Webster Road ⚫ Royal Oak ⚫ Michigan ⚫ 48073 ⚫ Phone 248.288.5150 ⚫ Fax 248.435.0310 ⚫ Email [email protected]
www.socrra.org
Printed on Post Consumer Recycled Content Paper
Berkley ⚫ Beverly Hills ⚫ Birmingham ⚫ Clawson ⚫ Ferndale ⚫ Hazel Park ⚫ Huntington Woods ⚫ Lathrup Village ⚫ Oak Park ⚫ Pleasant Ridge ⚫ Royal Oak ⚫ Troy
ALTERNATIVES AVAILABLE TO SOCRRA RESIDENTS
FREE OF CHARGE
ERG Environmental Services Phone: 734-437-9650
Electronics Recycling and Household Hazardous Waste Disposal (computers, TVs, cell phones, VCRs,
video equipment, paint, household cleaners, medications, sharps, auto fluids, pesticides, etc. – visit www.socrra.org for a
complete list)
• Location: 13040 Merriman Road, Livonia (Use visitor entrance, enter off Industrial Road)
• Hours: M – F 9AM – 5PM
• Must have ID showing residency from a SOCRRA community, Bingham Farms, the City of
Bloomfield Hills or Franklin Village or printed paper voucher for Rochester and Rochester Hills
residents -- purchase from city
• Ring doorbell and RETURN TO YOUR CAR. Attendant with PPE will unload your items
eCycle Opportunities (JVS facility) Phone: 248-233-4477 Electronics Recycling ONLY (computers, TVs, cell phones, VCRs, video equipment, etc. – visit www.socrra.org
for a complete list)
• Location: 29699 Southfield Road, Southfield – part of the JVS building
• Hours: M – F 8AM – 4PM
• Must be resident of a SOCRRA community, Bingham Farms, the City of Bloomfield Hills or
Franklin Village or bring printed paper voucher for Rochester and Rochester Hills residents --
purchase from city
• Go to warehouse door on south side of building (next to Arby’s), place electronics in bin or on
ground if they are large. Ring doorbell for assistance with heavy items
GFL Recycling Phone: 248-541-4020 Drop-off Paper Shredding and Cardboard/Paper and Scrap Metal Recycling
• Location: 414 E. Hudson, Royal Oak
• Hours: M – F 7AM – 4PM
• Procedure: MASKS ARE REQUIRED
o Shredding – main building entrance; NOT self-service – leave papers with attendant
o Cardboard/Paper and Scrap Metal recycling -- drive into truck entrance; open top
dumpsters to self-unload
SOCRRA’s main function is to provide and manage the CURBSIDE collection of trash, recycling and yard waste
in our 12 SOCRRA communities and we remain open and fully functional for these ESSENTIAL services.
We are assessing if/when we will reopen for the other SUPPLEMENTAL services we have provided in the past.
Please be patient while we determine the safest solutions for our staff and the people who use our services.
5-D
August 3, 2021
Board of Trustees
SOCRRA
Subject: OPEB Actuarial Valuation Report
Board Members:
The accounting rules require SOCRRA to perform a full actuarial valuation of our OPEB plan as
of June 30, 2021, which is two years from our last full actuarial study. The June 30, 2021
actuarial valuation developed using the Milliman tool is attached.
This report showed a large improvement in our funding level due to the following factors:
1. A 10% decline in the number of covered individuals due to retiree deaths.
2. A 25% increase in plan assets due to increased investment returns and additional
contributions by SOCRRA.
3. A decrease in the cost of providing health care to our non-Medicare eligible retirees due
to the rate structure used by the Teamster’s health insurance plan, which is not age rated.
4. A lower rate of increase for future health care costs.
Each of these changes served to significantly increase the funding level of our OPEB plan.
Milliman concluded that SOCRRA’s OPEB plan is 126.6% funded as of June 30, 2021. This is a
significant increase from the 75.9% funded as of June 30, 2020 due to the factors discussed
above.
The details of the analysis are as follows:
Actuarial
Liability
Actuarial
Assets
Unfunded
Liability
% Funded
SOCRRA Union Plan $ 606,549 $ 767,578 $ -161,029 126.6%
The recent history of our OPEB liabilities is contained in the following table:
OPEB RESULTS-SOCRRA PLAN
Valuation Date Liability Assets Unfunded
Liability
% Funded
6/30/2021 $606,549 $767,578 $ -161,029 126.6%
6/30/2020 $767,347 $582,469 $ 184,878 75.9%
6/30/2019 Milliman $747,780 $550,975 $ 196,805 73.7%
6/30/2019 GRS $633,547 $550,975 $ 82,572 87.0%
6/30/2018 $619,708 $525,711 $ 93,997 84.8%
6/30/2017 $602,989 $478,280 $ 124,709 79.3%
6/30/2016 $563,913 $430,347 $ 133,566 76.3%
6/30/2015 $618,507 $393,879 $ 224,628 63.7%
6/30/2014 $611,756 $351,129 $ 260,627 57.4%
Our long-term strategy for our OPEB plans has been to contribute some funding to the OPEB
trusts in addition to paying the retiree health care premiums from our budget. For 2020/21, we
contributed $20,000 to the plan and we are budgeted to contribute an additional $20,000 to the
plan during 2021/22. Given the fact that this plan is currently overfunded, I do not plan to make
the budgeted contribution in 2021/22. Plante Moran will be reviewing this actuarial study during
their audit. If Plante Moran agrees with the study, we will begin paying for our retiree health
care costs using plan assets as of January, 2022.
SOCRRA also has a share of the OPEB liability for the SOCWA salaried employees. As of June
30, 2021, this plan was 156.9% funded and there was no unfunded liability.
Respectfully submitted,
Jeffrey A. McKeen, P.E.
General Manager
Suggested Resolution: “That the OPEB Actuarial Report be received and filed.”
Attn: GASBhelp.com
80 Lamberton Rd.Windsor, CT 06095USA
Tel +1 860 687 0148Fax +1 860 687 2111
milliman.com
August 3, 2021
Jeff McKeen General Manager SOCRRA 3910 W. Webster Royal Oak, MI 48073
GASBhelp Valuation Report
Thank you for using GASBhelp. This report contains the results of the Valuation Report using the Alternative Measurement Method in accordance with GASB 74/75. It also contains a detailed explanation of the methodology and results. All inputs and assumptions that impact the results are contained herein.
The exhibit below provides the key results from the GASB 74/75 OPEB valuation, which may be used in preparation of financial statements. A description of these results and how they were derived are detailed later in this report.
Key Results Measurement Date: 6/30/2021
Actuarially Determined Contribution (ADC)
Service Cost (SC)
Amortization Payment
Fiduciary Net Position
Total OPEB Liability
Net OPEB Liability (NOL)
($9,802) $3,709 ($13,511) $767,578 $606,549 ($161,029)
Please note that the Key Results in the table above were calculated using the Entry Age Normal Actuarial Cost Method as required by GASB 75. Also, note that for unfunded plans (plans without assets), the Actuarially Determined Contribution and the Amortization Payment are set to N/A.
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
TABLE OF CONTENTS
Topic Section
Overview of GASB 74 and GASB 75 1
The Liability Determination Process 2
Key Results, Sensitivity Analysis, and Reporting Elements 3
Summary of Census Data 4
Current Premiums 5
Summary of Key Assumptions and Methods 6
Required Supplemental Information 7
Individual Subscriber Data 8
Caveats and Limitations 9
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 1
OVERVIEW OF GASB 74 AND GASB 75
The Government Accounting Standards Board (GASB) Statements 74 and 75 require government employers to perform periodic valuations to determine annual accounting costs related to Other (than pension) Post-Employment Benefits (OPEB). Government employers must also disclose information in their financial statements about asset and liability levels as well as historical contributions toward OPEB funding. Statement 75 focuses on the requirements for the actuarial valuation and reporting of OPEB liabilities. Statement 74 contains similar information but is only applicable for plans funding their OPEB liability. GASB 75 replaces GASB 45, which set initial standards for OPEB valuations several years ago; similarly, GASB 74 replaces GASB 43.
GASB 75 is effective for fiscal years beginning after June 15, 2017 for all entities. GASB 74 is effective one year earlier than that date.
GASB 75 applies to most benefits that are provided after retirement other than pension benefits: medical insurance, dental, vision, and hearing benefits plus life insurance and other non-pension post-employment benefits. The philosophy driving the accounting standard is that these post-employment benefits are part of the compensation that is paid to employees in return for their services, and the cost of these benefits should be recognized while the employees are providing those services, rather than after they have retired.
GASBhelp is fully compliant with GASB 75. The GASB 75 Alternative Measurement Method, while intended to simplify the valuation process for small employers, is still best performed by an expert or by using validated tools like GASBhelp in order to avoid errors. GASBhelp was created and rigorously checked by Milliman actuaries who have pension and health expertise, so auditors can recognize that the calculations performed by GASBhelp are fully compliant with GASB 75 and the Alternative Measurement Method. This report contains all auditor-required elements, including the information necessary to understand the inputs, assumptions, valuation methodology, and valuation results. Milliman customer service representatives are also available to answer questions that auditors or those who read this report may have.
Jeff McKeenAugust 3, 2021Page 3 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 2 THE LIABILITY DETERMINATION PROCESS
The process of determining the liability for retiree OPEB benefits is based on many assumptions about future events.
The key assumptions are:
• Turnover and retirement rates: How likely is it that an employee will remain employed by the same employer and qualify for post-employment benefits, and when will those benefits start?
• Healthcare trend and claims costs assumptions: When a retiree starts receiving post-employment benefits, possibly many years from now, how much will those benefits cost each year and how rapidly will the costs grow?
• Mortality assumption: How long is a retiree likely to receive the benefits?
• Discount rate assumption: What is the present value of those future benefit payments in terms of today's dollars?
According to GASB 75, "A liability should be recognized for the Net OPEB Liability. The Net OPEB Liability should be measured as the portion of the actuarial present value of projected benefit payments that is attributed to past periods of employee service, net of the OPEB plan's Fiduciary Net Position."
Therefore, the Net OPEB Liability is calculated as the Total OPEB Liability less the plan's Fiduciary Net Position. The Fiduciary Net Position is equal to the total assets set aside for funding. If the OPEB plan is prefunded, the valuation will also need to determine an Actuarially Determined Contribution (ADC). If the plan is not prefunded, we set the ADC to N/A throughout this report.
The ADC consists of two pieces:
• Service Cost: cost for OPEB benefits attributable to the current year of service.
• Amortization Payment: a catch-up payment for past normal costs to amortize the Net OPEB Liability. GASBhelp assumes a rolling 20-year amortization period.
Note: The ADC does not have to be paid each year, nor does it need to be calculated. However, if it is calculated, then it must be disclosed in financial statements annually for prefunded plans.
Jeff McKeenAugust 3, 2021Page 4 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
In addition, the discount rate used to calculate the liabilities must reflect the expected investment income of whatever funds are set aside to prefund the benefits; if there is no prefunding then the discount rate will be much lower and the liabilities significantly higher than if the benefits are prefunded. GASB 74 and 75 generally require that a blended discount rate be used to measure the Total OPEB Liability. The long-term expected rate of return on plan assets may be used to the extent that the plan's Fiduciary Net Position is projected to cover benefit payments and administrative expenses. A 20-year tax-exempt municipal bond yield must be used for periods where the Fiduciary Net Position is not projected to cover benefit payments and administrative expenses. Determining the discount rate under GASB 74 and 75 will often require that the actuary perform complex "depletion date" projections of future benefit payments and asset values; however, Paragraph 29 allows for alternative evaluations if such evaluation may be reliably made. The method for alternative evaluations is not specified but rather left to professional judgment.
Based on this requirement, if your plan is unfunded (i.e., you are paying for OPEB on a pay-as-you-go basis) or fully-funded (i.e., you expect that your plan assets will be sufficient over the projection period to offset OPEB liability), GASBhelp's online tool may be used in its entirety. For plans that are not prefunded, the discount rate will be based on the 20-year tax exempt municipal bond yield. For fully-funded plans, the discount rate will be based on your long-term expected rate of return on plan assets.
If your plan is partially prefunded, meaning that the assets being set aside are expected to partially but not fully offset the liability over time, then you will use GASBhelp for all inputs and then Milliman will calculate the appropriate discount rate to use and provide you with a customized report. GASBhelp's online tool does not allow for discount rate calculations using the depletion date methodology so we will calculate the discount rate for you outside the web-based platform and deliver you a custom report.
As an entity that qualifies to use the Alternative Measurement Method (AMM), the calculation of your Total OPEB Liability and ADC may be completed without a full actuarial valuation. The AMM calculation process is similar to an actuarial valuation, but with simplifications of several assumptions permitted per GASB guidelines. The GASBhelp tools' calculation process is built in accordance with the Alternative Measurement Method.
Jeff McKeenAugust 3, 2021Page 5 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 3 KEY RESULTS, SENSITIVITY ANALYSIS, AND REPORTING ELEMENTS
This exhibit provides the key results from the GASB 74 and GASB 75 OPEB valuation, which may be used in preparation of financial statements.
Key Results Measurement Date: 6/30/2021
Actuarially Determined Contribution (ADC)
Service Cost (SC)
Amortization Payment
Fiduciary Net Position
Total OPEB Liability
Net OPEB Liability (NOL)
($9,802) $3,709 ($13,511) $767,578 $606,549 ($161,029)
Two sensitivity analyses are then required by GASB 75 and/or GASB 74.
The first sensitivity analysis is required to show how your liability will change based on your assumed discount rate. As more assets are set aside to fund OPEB liabilities, your expected investment return may increase, offsetting more of your liability cost. A second sensitivity analysis is required to show how your liability will change based on a change in the healthcare trend rates used in the valuation.
Sensitivity 1: Change in Discount Rate Assumption
Your discount rate baseline is: 7.000%
The OPEB liability calculated using a discount rate 1% greater than and 1% less than the baseline discount rate are shown in the table below.
Discount Rate - 1% Baseline Discount Rate + 1%
Discount Rate 6.000% 7.000% 8.000%
Net OPEB Liability ($98,956) ($161,029) ($214,334)
Change from Baseline $62,073 $0 ($53,304)
Jeff McKeenAugust 3, 2021Page 6 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Sensitivity 2: Change in Healthcare Trend Rate
Your healthcare trend rate baseline is:
Medical Pharmacy Dental Vision
Year 1 5.800% 5.900% 3.500% 3.000%
Year 2 5.500% 4.800% 3.500% 3.000%
Year 3 5.300% 4.700% 3.000% 3.000%
Year 4 5.000% 4.700% 3.000% 3.000%
Year 5 4.800% 4.600% 3.000% 3.000%
Year 6 4.500% 4.500% 3.000% 3.000%
Year 7 4.500% 4.400% 3.000% 3.000%
Year 8 4.500% 4.300% 3.000% 3.000%
Year 9 4.500% 4.300% 3.000% 3.000%
Year 10 + 4.500% 4.300% 3.000% 3.000%
The OPEB liability calculated using healthcare trend rates 1% greater than and 1% less than the baseline trends are shown in the table below. The ACA excise tax will ultimately affect all plans. Due to the variability of the ACA excise tax by plan, the user needs to estimate the impact and the trend. The excise tax could raise the average annual trend rate by 0.5% or more in each year.
Baseline Trend - 1% Baseline Trend Baseline Trend + 1%
Net OPEB Liability ($215,671) ($161,029) ($97,734)
Change from Baseline ($54,642) $0 $63,296
Jeff McKeenAugust 3, 2021Page 7 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Calculation of Changes in Net OPEB Liability
You are required to demonstrate the change in your Net OPEB Liability from the last reporting period to the current period. The Changes in Net OPEB Liability exhibit, populated based on user inputs and on GASBhelp valuation results, is shown below.
Changes in Net OPEB Liability Exhibit
Line # Total OPEB Liability (a)
Change in Fiduciary Net Position (b)
Net OPEB Liability (a)-(b)
1 Balance as of Prior Measurement Date $767,347 $582,469 $184,878
2 Service Cost $5,527 N/A $5,527
3 Interest on Total OPEB Liability $53,550 N/A $53,550
4 Effect of Plan Changes* $0 N/A $0
5 Effect of Economic/Demographic Gains or Losses
($203,847) N/A ($203,847)
6 Effect of Assumptions Changes or Inputs $0 N/A $0
7 Benefit Payments ($16,028) ($16,028) $0
8a Employer Contributions N/A $36,028 ($36,028)
8b Employee Contributions N/A $0 $0
9 Net Investment Income N/A $166,335 ($166,335)
10 Administrative Expenses N/A ($1,226) $1,226
11 Balance as of Current Measurement Date $606,549 $767,578 ($161,029)
*GASBhelp is able to generate the combined impact of Line 4 (Effect of Plan Changes) and Line 5 (Effect of Economic/Demographic Gains or Losses). For purposes of populating this exhibit we have put the entire value in Line 5. If you have not had any plan changes (e.g. changes in OPEB benefits, changes in eligibility requirements) since your last valuation, Line 4 may remain at $0. If you have had OPEB plan changes you will need to estimate the portion of the displayed Line 5 adjustment due to plan changes and allocate it to Line 4 instead.
Jeff McKeenAugust 3, 2021Page 8 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
GASBhelp Outputs to Aid You In Developing Exhibit
Key Date and Discount Rate ScenarioMeasurement Date
Discount Rate
Total OPEB Liability (TOL)
Service Cost (SC)
(i) Last Measurement Date, Last Year's Assumptions
6/30/2020 7.000% $558,682 $3,442
(ii) Current Measurement Date, Last Year's Assumptions
6/30/2021 7.000% $606,549 $3,709
(iii) Current Measurement Date, Current Assumptions
6/30/2021 7.000% $606,549 $3,709
(iv) Next Measurement Date, Current Assumptions
6/30/2022 7.000% $627,111 $3,734
Jeff McKeenAugust 3, 2021Page 9 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Calculation of OPEB Expense:
OPEB Expense must be demonstrated via the following calculation.
Item Value
Service Cost $5,527
+ Interest on Total OPEB Liability $53,550
+ Effect of Plan Changes^ $0
+ Administrative Expenses $1,226
- Employee Contributions $0
- Expected Investment Return Net of Investment Expenses ($166,335)
+ Recognition of Effect of Economic/Demographic Gains or Losses* ($203,847)
+ Recognition of Effect of Assumptions Changes or Inputs* $0
OPEB Expense ($309,879)
*Per GASB 75 Paragraph 43(a), deferred inflows/outflows of resources related to differences between actual and expected experience with regard to economic or demographic factors or changes in assumptions and other inputs should not be used under the Alternative Measurement Method. These items should be recognized in OPEB expense immediately. Per Paragraph 43(b), the difference between projected and actual earnings on OPEB plan investments should be recognized in OPEB expense over a closed 5 year period; the amount not immediately recognized should be reported as deferred inflows/outflows. As such, if your plan does not have OPEB assets in a trust, deferred inflows/outflows are $0. If you do invest assets in a trust backing the OPEB liability, then you must assess and track the deferred inflows/outflows related to actual versus expected investment earnings. This investment performance detail is not captured in GASBhelp and must be maintained by the auditor or accountant.
^In this exhibit we have set the Effect of Plan Changes to 0. Per the note following the Changes in Net OPEB Liability Exhibit, our calculations cannot distinguish between Effect of Plan Changes and Effect of Economics/Demographic Gains or Losses. If you have not had any plan changes (e.g. changes in OPEB benefits, changes in eligibility requirements) since the last valuation, the Effect of Plan Changes may remain at 0. If you have had plan changes you will need to estimate those and adjust this exhibit to reflect them.
Jeff McKeenAugust 3, 2021Page 10 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 4 SUMMARY OF CENSUS DATA
Here is a summary of the number of employees covered by the benefit terms as required by GASB 75. This exhibit also serves as documentation of the census data you input, on which the valuation was calculated.
Census Summary
Younger than 65 Years 65 Years or Older Total
Subscribers 6 13 19
Spouses 0 0 0
Total 6 13 19
Average Ages 52 81 72
Subscribers by Status
# Subscribers
Active 6
Retired 13
Terminated 0
Deceased* 0
Total 19
*Deceased subscribers are only included when a surviving beneficiary is currently receiving benefits. The total number of subscribers by status may differ from the number of subscribers in the census summary, because the summary only includes living plan members.
Jeff McKeenAugust 3, 2021Page 11 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 5
CURRENT PREMIUMS
This exhibit serves as documentation of the premium and employer contribution information you input, on which the valuation was calculated.
Total Monthly Premiums Paid to the Insurer
Retiree Health
Medical, PharmacyCoverage
Single Family
Premium Premium
Subscriber and Spouse Under 65 $549.25 $1,317.98
Subscriber or Spouse Over 65 N/A $1,317.98
Subscriber and Spouse Over 65 $160.90 $321.80
* Premium Effective Date: 7/1/2021. * Number of Premium Payments per Year: 12. * May be Covered: The Subscriber and Spouse. Not Children. * This benefit pays: Secondary to Medicare. * Benefit for: Both early retirees (pre-65) and regular retirees (65-and-over) * Total tiered premiums due to the insurer are the same for all retirees and actives.
Employer Contributions toward the Monthly Premiums
Medicare Eligible - Retiree Health
Medical, PharmacyCoverage
Single Family
Contribution Contribution
Subscriber and Spouse Under 65 $549.25 $1,317.98
Subscriber or Spouse Over 65 N/A $1,317.98
Subscriber and Spouse Over 65 $128.72 $257.44
* Contribution Type: Fixed Percent * Eligibility requirements for this benefit: - Minimum age before retirement (termination): 55 - Minimum required years of service: 25
Jeff McKeenAugust 3, 2021Page 12 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 6 SUMMARY OF KEY ASSUMPTIONS AND METHODS
The exhibit below provides key assumptions and methods used in the valuation as well as user inputs.
Key Assumptions and Methods Used in the Valuation
Assumptions User Defined Values are in Bold
Age Adjustment Factor: 1.435755
Average Retirement Age: 60
Employer Future Premium Contribution:
Remain a level % of the total cost over time
Actuarial Cost Method: Entry Age Normal
Amortization Method: Level Percentage of Payroll
Assets Backing OPEB Liability: $767,578
Plan Asset Return: 7.000%
Bond Yield: 2.040%
Discount Rate: 7.000%
Measurement Date: 6/30/2021
Prior Measurement Date: 6/30/2020
Prior Year Discount Rate: 7.000%
Projected Salary Increases: 3.00%
Amortization Period: 20
Percentage Participation: 100.00%
NOL and ADC: Calculated using the Alternative Measurement Method in accordance with GASB methodology.
Mortality Table: Pub-2010 Public Retirement Plans Mortality Tables, with mortality improvement projected for 10 years.
Turnover Assumption:
Derived from data maintained by the U.S. Office of Personnel Management regarding the most recent experience of the employee group covered by the Federal Employees Retirement System
Payroll Growth Assumption Source: Michigan Uniform Assumptions
Jeff McKeenAugust 3, 2021Page 13 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
The exhibit below provides user inputs used in the financial reporting section.
Key Inputs Used in the Financial Reporting Section
User Inputs Values
Total OPEB Liability Prior Balance: $767,347
Prior Fiduciary Net Position: $582,469
Prior Service Cost: $5,527
OPEB Benefit Payments: $16,028
Employer Contributions to OPEB Trust: $20,000
Employee Contributions to OPEB Trust: $0
Net Investment Income from OPEB Trust: $166,335
Administrative Expenses from OPEB Trust: $1,226
Jeff McKeenAugust 3, 2021Page 14 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Healthcare Cost Trend Rates
Medical Pharmacy Dental Vision
Year 1 5.800% 5.900% 3.500% 3.000%
Year 2 5.500% 4.800% 3.500% 3.000%
Year 3 5.300% 4.700% 3.000% 3.000%
Year 4 5.000% 4.700% 3.000% 3.000%
Year 5 4.800% 4.600% 3.000% 3.000%
Year 6 4.500% 4.500% 3.000% 3.000%
Year 7 4.500% 4.400% 3.000% 3.000%
Year 8 4.500% 4.300% 3.000% 3.000%
Year 9 4.500% 4.300% 3.000% 3.000%
Year 10 + 4.500% 4.300% 3.000% 3.000%
Healthcare Cost Trend Source: Michigan Uniform Assumptions The ACA excise tax will ultimately affect all plans. Due to the variability of the ACA excise tax by plan, the user needs to estimate the impact and adjust the trend. The excise tax could raise the average annual trend rate by 0.5% or more in each year.
Jeff McKeenAugust 3, 2021Page 15 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 7 REQUIRED SUPPLEMENTAL INFORMATION
GASB 75 requires the following supplementary information to be reported separately for each plan through which OPEB is provided. Your auditor should work with you to compile this supplementary information. The information requiring disclosure can be found in paragraphs 55 through 57 in the GASB 75 text. In this section we provide guidance on this reporting and data elements from the valuation that must be used in the reporting.
1. A 10-year schedule of the changes in the Net OPEB Liability that separately presents the sources of change in the Net OPEB Liability.
For this schedule, you can use the results shown in the Calculation of Changes in Net OPEB Liability exhibit detailed in Section 3 of this report as well as historical information. The schedule should include the Total OPEB Liability, the OPEB plan's Fiduciary Net Position, the Net OPEB Liability, the OPEB plan's Fiduciary Net Position as a percentage of the progression over time of Total OPEB Liability, the covered employee payroll, and the Net OPEB Liability as a percentage of covered employee payroll.
2. A 10-year schedule of actuarially determined contributions if applicable. Include the amount of contributions recognized by the OPEB plan in relation to the ADC and the difference between the ADC and the contributions. Also include the covered employee payroll and the contributions recognized as a percentage of covered employee payroll. Covered payroll is not an output of GASBhelp.
3. For prefunded plans, the money-weighted rate of return must be calculated and disclosed. GASBhelp does not provide this calculation as it is based on the timing and nature of each entity's investments and cashflows. We recommend working with an accountant or auditor on these supplemental exhibits. They are not provided by GASBhelp.
Jeff McKeenAugust 3, 2021Page 16 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 8
INDIVIDUAL SUBSCRIBER DATA
This exhibit contains the data provided for each of the subscribers that the user keyed in to the system.
Subscriber ID: BK Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1934 1957 N/A 1990 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: BK spouse Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1934 1957 N/A 1990 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: BM Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1945 1992 N/A 2012 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: CC Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Active 1968 1994 N/A N/A Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: CC spouse Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Jeff McKeenAugust 3, 2021Page 17 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Active 1968 1994 N/A N/A Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: DP Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Active 1962 1993 N/A N/A Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: DP spouse Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Active 1962 1993 N/A N/A Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: ES Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1943 1968 N/A 1998 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: ES spouse Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1943 1968 N/A 1998 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: JS Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Jeff McKeenAugust 3, 2021Page 18 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Retired 1942 1969 N/A 1997 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: JS spose Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1942 1969 N/A 1997 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: KB Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Active 1973 1992 N/A N/A Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: KB spouse Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Active 1973 1992 N/A N/A Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: LS Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1929 1966 N/A 1991 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: LS spouse Gender: M
Jeff McKeenAugust 3, 2021Page 19 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1929 1966 N/A 1991 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: RA Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1932 1956 N/A 1994 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: RA spouse Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1932 1956 N/A 1994 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: TD Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1955 1980 N/A 2010 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Subscriber ID: WC Gender: M
Status Birth Yr Hire Yr Service Credits Retirement YrMedicare Opt
OutSpouse Birth Yr Child Birth Yr Group
Retired 1950 1969 N/A 2005 Medicare Eligible N/A N/AMedicare Eligible
Pre 65
Medical PlanPre 65
Medical TierPre 65
Pharmacy PlanPre 65
Pharmacy TierPre 65
Dental PlanPre 65
Dental TierPre 65
Vision PlanPre 65
Vision TierPre 65
Life Plan
No Coverage N/A N/A N/A N/A N/A N/A N/A N/A
Post 65
Medical PlanPost 65
Medical TierPost 65
Pharmacy PlanPost 65
Pharmacy TierPost 65
Dental PlanPost 65
Dental TierPost 65
Vision PlanPost 65
Vision TierPost 65
Life Plan
Retiree Health Single N/A N/A N/A N/A N/A N/A N/A
Jeff McKeenAugust 3, 2021Page 20 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Jeff McKeenAugust 3, 2021Page 21 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
SECTION 9
CAVEATS AND LIMITATIONS
This report is based on the data, methods, assumptions and plan provisions specified by the user of the website. Since the valuation results are dependent on the integrity of the data supplied, the results can be expected to differ if any of the underlying data is incomplete or missing. If any data or other information is inaccurate or incomplete, the calculations may need to be revised.
Furthermore, the emerging costs will vary from those presented in this report to the extent that actual experience differs from that projected by the actuarial assumptions which are summarized in this report.
Actuarial computations under GASB 74 and GASB 75 are for purposes of fulfilling financial accounting requirements for public employers and trusts. No attempt is being made to offer any accounting opinion or advice. The calculations in the enclosed exhibits have been made on a basis consistent with the Alternative Measurement Method under GASB 74 and GASB 75. Determinations for purposes other than meeting these financial accounting requirements may be significantly different from the results contained in these exhibits. Accordingly, additional determinations may be needed for other purposes.
This work product was prepared solely to provide assistance to the client or system in determining values to be reported under GASB 74 and GASB 75. It may not be appropriate to use for other purposes. Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this work. The assumptions and results should be reviewed by the user's accountant. Any third party recipient of this work product who desires professional guidance should not rely upon this work product, but should engage qualified professionals for advice appropriate to its own specific needs.
This report was generated using the GASBhelp site and is subject to the terms and conditions set forth in the License Agreement for Milliman GASBhelp Service accepted by user. User recognizes that the GASBhelp site does not provide any legal advice to user. User shall not rely on the GASBhelp site with respect to any matter of interpretation of law, regulation or legal compliance. Any information provided to user on the GASBhelp site with respect to provisions of law or regulation is for informational use only and should not be relied upon without consultation with competent counsel. User understands that it is entirely responsible for the determination of all assumptions used on the GASBhelp site and that Milliman, its officers, directors, and employees shall have no liability with respect to such assumptions.
Jeff McKeenAugust 3, 2021Page 22 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
Please let us know if you have any questions concerning the GASBhelp tool or the information presented in this report. Thank you for using GASBhelp.
Sincerely,
Joanne E. Fontana, FSA, MAAAConsulting Actuary
Stephen J. Kaczmarek, FSA, MAAAPrincipal and Consulting Actuary
Copyright © Milliman, Inc. 2018.
Jeff McKeenAugust 3, 2021Page 23 of 23
This report was prepared solely to provide assistance to (the) SOCRRA in Royal Oak, MIin determining values to be reported under GASB 75 and GASB 74. It may not be appropriate to use for other purposes.Milliman does not intend to benefit and assumes no duty or liability to other parties who receive this report.Copyright © 2018 Milliman, Inc.
5-E
July 20, 2021
Board of Trustees
SOCRRA
Subject: 2022 and 2023 Schedule of Important Collection Dates
Board Members:
The holiday schedules for 2022 and 2023 are as follows:
2022 – Schedule of Important Collection Dates
Saturday, January 1st New Year’s Day No collection delay
Monday, April 4th Beginning of separate yard waste collection (sooner if members choose to
pay extra).
Monday, May 30th Memorial Day Collection delayed a day all week (Mon-Fri)
Monday, July 4th Independence Day Collection delayed a day all week (Mon-Fri)
Monday, September 5th Labor Day Collection delayed a day all week (Mon-Fri)
Thursday, November 24th Thanksgiving Thursday-Friday delayed by one day
Friday, December 16th End of separate yard waste collection
Sunday, December 25th Christmas Day No collection delay
2023 – Schedule of Important Collection Dates
Sunday, January 1st New Year’s Day No collection delay
Monday, April 3rd Beginning of separate yard waste collection (sooner if members choose to pay
extra). Monday, May 29th Memorial Day Collection delayed a day all week (Mon-Fri)
Tuesday, July 4th Independence Day Tuesday-Friday delayed by one day
Monday, September 4th Labor Day Collection delayed a day all week (Mon-Fri)
Thursday, November 23rd Thanksgiving Thursday-Friday delayed by one day
Friday, December 15th End of separate yard waste collection
Monday, December 25th Christmas Day Collection delayed a day all week (Mon-Fri)
Submitted by:
Jeffrey A. McKeen, P.E.
General Manager
Suggested resolution: “That the Board receive and file the 2022 and 2023 Schedule of Important
Collection Dates report”.
7-A
August 5, 2021
Board of Trustees
SOCRRA
Subject: Troy Transfer Station Paving
Board Members:
We are in the process of soliciting bids for the replacement of a significant amount of pavement
at our Troy Transfer Station. Our construction budget for 2021/21 includes $100,000 for this
work. EGLE has requested that we provide them a schedule for completion of this paving work
as part of our permit renewal. I had hoped to complete this process by the August 11 Board
meeting, but this does not appear likely. We plan to complete the bid process and award the
paving work to the low bidder contingent on Board approval and ask for Board confirmation of
that decision at the September 8 Board meeting. It does not appear as if any of the contractors
would be able to being the paving work until mid-September as the earliest so we will be able to
obtain Board approval before the paving work begins.
Respectfully submitted,
Jeffrey A. McKeen, P.E.
General Manager
Suggested Resolution: “That the report on Troy Transfer Station Paving be received and filed.”