2026-27 GovInvest, Inc. Amendment 3 - Term ExtensionMEMORANDUM
DATE: September 19, 2025
TO: Jon McMillen,City Manager
FROM: Claudia Martinez, Finance Director/City Treasurer
RE: Govinvest Amendment 3- Actuarial Consulting & Technology Services/Labor Costing & Financial Forecasting
Please list the Contracting Party / Vendor Name, any change orders or amendments, and the type of services to be provided. Make
sure to list any related Project No. and Project Name.
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CALIFORNIA
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Authority to execute this agreement is based upon:
Approved by City Council on August 5, 2025, Consent 12
City Manager's signing authority provided under the City's Purchasing & Contracting Policy
[Resolution No. 2023-008] for budget expenditures of $50,000 or less.
City Manager's signing authority provided under the City's Personnel Policy Section 3.2 for
temporary employment positions.
Department Director's or Manager's signing authority provided under the City's Purchasing Policy
[Resolution No. 2023-008] for budget expenditures of $15,000 and $5,000, respectively, or less.
Bid
Sole Source
✓
Procurement Method (one must apply):
RFP
n RFQ
Select Source
❑
3 written informal bids
Cooperative Procurement
Requesting department shall check and attach the items below as appropriate:
Agreement payment will be charged to Account No.: 101-1006-60104 & 502-0000-60301
Agreement term: Start Date 01 /01 /2021 End Date
12/31/2027
Amount of Agreement, Amendment, Change Order, etc.: $ 100,000 Amend 3; 265,500 Total
.z. Signing authorities listed above are applicable on the aggregate Agreement amount, not individual
Amendments or Change Orders!
Insurance certificates as required by the Agreement for Risk Manager approval
Approved by: Olivia Rodriguez (myCOI); Exp 09/28/2025 Date: 09/19/2025
Bonds (originals) as required by the Agreement (Performance, Payment, etc.)
Conflict of Interest Form 700 Statement of Economic Interests from Consultant(s)
NOTE: Review the "Form 700 Disclosure for Consultants" guidance to determine if a Form 700 is required pursuant
FPPC regulation 18701(2)
n
Business License No.
• Expires:
Requisition for a Purchase Order has been prepared (Agreements over $5,000)
18495 Calle Tampico I is Quinta, California 922531760.7TT7000 I www.laquintaca.gov
AMENDMENT NO. 3 TO AGREEMENT FOR CONTRACT SERVICES
WITH GOVINVEST INC.
This Amendment No. 3 ("Amendment No. 3") to Agreement for Contract Services
("Agreement") is made and entered into as of the 1st day of July 2025, ("Effective Date")
by and between the CITY OF LA QUINTA ("City"), a California municipal corporation and
Govinvest Inc. ("Contracting Party").
RECITALS
WHEREAS, on or about December 1, 2020, the City and Govinvest Inc. entered
into an Agreement to provide services related to actuarial consulting and technology
services, for a total not to exceed amount of $106,000. The term of the Agreement expires
on December 31, 2025 ("Initial Term"); and
WHEREAS, Amendment 1, executed on or about June 29, 2022, amended
Section 1.1 — Scope of Services and Section 2.1 — Contract Sum of the Agreement to
respectively include the addition of the labor costing module and financial forecasting
module for fiscal year 2022-23, and increased compensation by $17,000, for a total not
to exceed amount of $123,000; and
WHEREAS, Amendment 2, executed on or about January 1, 2024, amended
Section 1.1 — Scope of Services and Section 2.1 — Contract Sum of the Agreement to
respectively include extend the additional labor costing module and financial forecasting
module services for fiscal years 2023-24 and 2024-25, and increased compensation by
$42,500, for a total not to exceed amount of $165,500; and
WHEREAS, pursuant to Section 3.4 — Term, the City and Contracting Party
mutually agree to extend the term of the Agreement for two additional years, from
January 1, 2026, through December 31, 2027; and
WHEREAS, City and Contracting Party mutually agree to amend Section 2.1 —
Contract Sum to increase compensation by $100,000 for the two-year extension of
services, for a total not to exceed aggregate amount of $265,500.
NOW THEREFORE, in consideration of the mutual covenant herein contained, the
parties agree as follows:
AMENDMENT
In consideration of the foregoing Recitals and the covenants and promises
hereinafter contained, and for good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, the parties hereto agree as follows:
1. Section 2.1 Contract Sum is amended to read as follows:
2.1 Contract Sum. For the services rendered pursuant to this Agreement, Contracting
Party shall be compensated in accordance with Exhibit "B" (the "Schedule of
Compensation") for a total not to exceed combined amount of Two Hundred Sixty -Five
Thousand and Five Hundred Dollars ($265,500) for the life of the agreement, including
the Initial and any Extended Terms (the "Contract Sum"), except as provided in
Section 1.7.
2. Section 3.4 Term is amended to read as follows:
3.4 Term. Unless earlier terminated in accordance with the provisions of Article 8.0 of
this Agreement, the term of this agreement shall commence on January 1, 2021, and
terminate on December 31, 2025 ("Initial Term"). Amendment No. 1 to this Agreement
extends the term from January 1, 2026, through December 31, 2027.
In all other respects, the original Agreement shall remain in effect.
IN WITNESS WHEREOF, the City and Consultant have executed this Amendment No. 3
to the Agreement on the respective dates set forth below.
CITY OF LA QUINTA
California municipal corporation
Govinvest, Inc.
SIGNED IN COUNTERPART
JOIy.M MILLEN, City Manager MAX STOFF, Director of
Customer Success
City of La Quinta, California
Dated: 0 Wz`�
ATTEST:
MONIKA RADE�/A, G,tty Clerk
City of La Quinta, California
APPROVED AS TO FORM:
WILLIAM H. IHRKE, City Attorney
City of La Quinta, California
Dated:
Dated:
Docusign Envelope ID: 9FFE7109-8528-4E66-B94D-0B5111434EDB
1. Section 2.1 Contract Sum is amended to read as follows:
2.1 Contract Sum. For the services rendered pursuant to this Agreement, Contracting
Party shall be compensated in accordance with Exhibit "B" (the "Schedule of
Compensation") for a total not to exceed combined amount of Two Hundred Sixty -Five
Thousand and Five Hundred Dollars ($265,500) for the life of the agreement, including
the Initial and any Extended Terms (the "Contract Sum"), except as provided in
Section 1.7.
2. Section 3.4 Term is amended to read as follows:
3.4 Term. Unless earlier terminated in accordance with the provisions of Article 8.0 of
this Agreement, the term of this agreement shall commence on January 1, 2021, and
terminate on December 31, 2025 ("Initial Term"). Amendment No. 1 to this Agreement
extends the term from January 1, 2026, through December 31, 2027.
In all other respects, the original Agreement shall remain in effect.
IN WITNESS WHEREOF, the City and Consultant have executed this Amendment No. 3
to the Agreement on the respective dates set forth below.
CITY OF LA QUINTA
a California municipal corporation
SIGNED IN COUNTERPART
JON McMILLEN, City Manager
City of La Quinta, California
Dated:
ATTEST:
SIGNFr) IN COUNTFRPART
MONIKA RADEVA, City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
SIGNED IN COUNTERPART
WILLIAM H. IHRKE, City Attorney
City of La Quinta, California
Govinvest, Inc.
LSigned by:
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NICK MARTIN, VP of
Finance & Operations
Dated: 9/5i2025
Dated:
Exhibit A
Scope of Services
Annual Fee Includes:
• Unlimited Logins: Credentials to access induvial cloud -based portals.
• Portal Setup: Development of dedicated cloud -based portals.
• Features & Reports: All features and reporting functions available within the cloud -based portal.
• Setup, Support & Training: Dedicated support staff to assist in initial setup and unlimited ongoing training of the
product and features. Refer to Implementation Steps below under User Training
• Support Resources: Access to labor costing experts, training tools, webinars and conferences hosted by Company.
• Expert Sessions: Scheduled training hosted by in-house finance, negotiations & budget experts, as well as peer
government users with extensive experience using the product.
• Internal Presentation Support: In-house finance, negotiations and budget experts to support in developing and
reviewing presentations based on product usage.
• Dedicated Customer Success Manager: Specialist assigned to Client to facilitate communication withall
available resources.
Implementation Steps
• Introductory 1-on-1 meeting between Customer's project sponsor and Govinvest onboarding lead
• Optional kick-off meeting with Govinvest onboarding lead and all customer stakeholders and
others that will be involved in the onboarding process
• User training: Digital one-on-one or group sessions focused on setting up projects and using
software to support Customer's objectives.
• Project configuration: support the customer in building a cost project for their first bargaining group
• Census building: Support the customer building their census file through development of costing
elements built into software and within the validation process.
• Validation: assist the customer in validating their results
• Support: answer customer questions as they come up about modelling or validation
Onboarding and implementation of the services included in this agreement, including data integration,
data validation, training, and launch shall be completed by Customer with Govinvest onboarding team
support. Implementation moves at pace of customer and their ability to compile appropriate data,
understand MOU's and Govinvest will support in software build out and representation of data.
Implementation Fee Includes
Annual Fee Includes
Initial Logins
Additional Logins
Initial Portal Setup
Ongoing Maintenance
Current Features & Reports
Future Features & Reports
Initial Setup & Training
Future Support & Training
Current Support Resources
Future Support Services
Expert Training Session
Annual Expert Sessions
Internal Presentation Review (By Appointment)
Ongoing Presentation Support (By Appointment)
Dedicated Customer Success Manager
Dedicated Customer Success Manager
Cloud Based
Downloads
Total Cost (Annual)
Employee Results
Total Cost (Cumulative)
Employees by Funding Source
Payroll (Annual)
Cost by Funding Source
Difference from the Baseline (Annual)
Accounts by Cost
Difference from Baseline (Cumulative)
Accounts by Cost Accounting ID
Cost Breakdown (Cumulative)
Accounts by Employee Accounting ID
Cost Detail (Annual)
Accounts by Funding Source
Cost Category Breakdown (Cumulative)
Employees by Account
Exhibit B
Schedule of Compensation
With the exception of compensation for Additional Services provided for in Section
2.3 of this Agreement, the maximum total compensation to be paid to Contracting Party
under this Agreement is Two Hundred Sixty -Five Thousand and Five Hundred Dollars
($265,500) (the "Contract Sum") as detailed in the table below:
Initial Term
Services
Cost
FY 2020/21
Pension/OPEB & Reporting
$22,000
FY 2021/22
Pension/OPEB & Reporting
$20,000
FY 2022/23
Pension/OPEB & Reporting
$22,000
FY 2023/24
Pension/OPEB & Reporting
$20,000
FY 2024/25
Pension/OPEB & Reporting
$22,000
Grand Total:
$106,000
Amendment No. 1
FY 2022/23
Labor Costing & Financial Forecasting
$17,000
Amendment No. 2
FY 2023/24
Labor Costing & Financial Forecasting
$17,000
FY 2024/25
Labor Costing & Financial Forecasting
$25,500
Amendment No. 3
FY 2025/26
Pension/OPEB & Reporting and Labor
Costing & Financial Forecasting
$50,000
FY 2026/27
Pension/OPEB & Reporting and Labor
Costing & Financial Forecasting
$50,000
Grand Total:
$265,500
CONSENT CALENDAR ITEM NO. 12
City of La Quinta
CITY COUNCIL MEETING: August 5, 2025
STAFF REPORT
AGENDA TITLE: APPROVE AMENDMENT NO. 3 TO AGREEMENT FOR CONTRACT
SERVICES WITH GOVINVEST INC FOR ACTUARIAL CONSULTING AND
TECHNOLOGY SERVICES FOR A TWO-YEAR TERM EXTENSION
RECOMMENDATION
Approve Amendment No. 3 to Agreement for Contract Services with Govinvest Inc. for
actuarial consulting and technology services for a two-year term extension; and authorize
the City Manager to execute the Amendment.
EXECUTIVE SUMMARY
• The City currently utilizes Govinvest Inc. for actuarial consulting and technology
services that includes required annual pension and healthcare actuarial services
in order to comply with Governmental Accounting Standards Board (GASB)
Statements 68 and 75, which establish standards for the measurement, display,
and recognition of Pension and Other Post -Employment Benefits (OPEB)
expenses and liabilities. In addition, the City uses the labor costing and financial
forecasting modules to support planning, forecasting, and budgeting activities.
• In November 2020, Council awarded the actuarial consulting and technology
services contract to Govinvest Inc, which expires December 31, 2025.
• On July 19, 2022, Council approved Amendment No. 1 which included the addition
of modules for labor costing and financial forecasting for the initial term.
• On March 5, 2024, Council approved Amendment No. 2 which included the labor
costing and financial forecasting extension for two additional years through
December 31, 2025.
• Amendment No. 3 (Attachment 1) proposes a two-year extension through
December 31, 2027.
FISCAL IMPACT
If approved, the cost for the two-year extension will be $100,000, for a total contract
amount of $265,500 as summarized below:
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Initial Term
Services
Cost
FY 2020/21
Pension/OPEB & Reporting
$22,000
FY 2021/22
Pension/OPEB & Reporting
$20,000
FY 2022/23
Pension/OPEB & Reporting
$22,000
FY 2023/24
Pension/OPEB & Reporting
$20,000
FY 2024/25
Pension/OPEB & Reporting
$22,000
Grand Total:
$106,000
Amendment No. 1
FY 2022/23
Labor Costing & Financial Forecasting
$17,000
Amendment No. 2
FY 2023/24
Labor Costing & Financial Forecasting
$17,000
FY 2024/25
Labor Costing & Financial Forecasting
$25,500
Amendment No. 3
FY 2025/26
Pension/OPEB & Reporting and Labor
Costing & Financial Forecasting
$50,000
FY 2026/27
Pension/OPEB & Reporting and Labor
Costing & Financial Forecasting
$50,000
Grand Total:
$265,500
Pension/OPEB and financial forecasting and labor costing software fees will be paid from
the Information Technology Fund (Account No. 502-0000-60301, Software Licenses) and
annual GASB reports from the Finance Department's budget (Account No. 101-1006-
60104), Consultants.
BACKGROUND/ANALYSIS
In November 2020, Council awarded the actuarial consulting and technology services
contract to Govinvest Inc, for an initial five-year term expiring December 31, 2025, with
an option to extend for two additional years.
On July 19, 2022, Council approved Amendment No. 1 adding modules for labor costing
and financial forecasting for fiscal year 2022/23, which included the implementation phase
and six months of complimentary service from July — December 2022.
On March 5, 2024, Council approved Amendment No. 2 extending the modules for labor
costing and financial forecasting services through fiscal years 2023/24 and 2024/25.
Amendment 3 proposes a two-year term extension through December 31, 2027, at
$50,000 per fiscal year, for a total not to exceed amount of $100,000, bringing the total
contract amount to $265,500.
ALTERNATIVES — Staff does not recommend other alternatives.
Prepared by:
Approved by:
Claudia Martinez, Finance Director
Jon McMillen, City Manager
Attachment: 1. Amendment No. 3 to Agreement for Contract Services with Govinvest, Inc.
118