Explanation
This ordinance authorizes the Director of the Department of Public Utilities to renew a contract with Raftelis Financial Consultants, Inc. for general financial services.
The consultant will continue to help with cost of service study updates, cost allocation plans, user fee studies, financial research, and more. The consultant will review all fees and charges and recommend changes based on cost of service results or other calculations, and recommend the implementation of new fees if appropriate. These fees and charges may include, but are not limited to, meter service fees, system capacity fees, backflow fees, tampering/theft fees, front footage connection charges, and other permit fees. The first year of the agreement, the contract was funded in the amount of $185,000.00. The second year of the contract was funded at $185,000.00 per year, authorized by Ord. 0134-2024. This renewal, year three of the contract will be funded at $250,000.00, for a contract total of $620,000.00 If additional funding is needed, a modification will be processed based upon mutual agreement of the parties, approval by City Council, and certification of the funds by the City Auditor.
PROCUREMENT:
The Department of Public Utilities (DPU) solicited competitive bids through the Vendor Services and Bonfire websites from February 15, 2023 to March 17, 2023 for general financial services in accordance with the relevant provisions of Chapter 329 of City Code (RFQ024033). One (1) bid, by a majority vendor, was received. The bid was deemed responsive and was evaluated on March 20, 2023. The committee recommended that Raftelis Financial Consultants, Inc. be awarded the contract. The committee determined their proposal was strong because it demonstrated a full understanding of the scope of work and met the requirements of the RFP, and due to their strong project team with clear roles and responsibilities.
The term of the contract was for one-year with two renewal option...
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