Explanation
Background: This ordinance authorizes the Director of Columbus Water & Power to modify an existing contract with Raftelis Financial Consultants, Inc., for general financial services. The modification amount being authorized by this ordinance is $200,000.00.
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 and theft fees, front footage connection charges.
PROCUREMENT:
Columbus Water & Power solicited competitive bids through the Vendor Services and Bonfire from February 15th, 2023, to March 17th, 2023, for general financial services in accordance with the relevant provisions of Chapter 329 of City Code, RFQ024033. One bid was received. The bid was deemed responsive and was evaluated on March 20th, 2023. After reviewing the bid, the committee recommended the award be made to Raftelis Financial Consultants, Inc. The committee determined their proposal was strong because it demonstrated a full understanding of the scope of work, they met the requirements of the RFP, and they had a strong project team with clear roles and responsibilities.
The original term of the contract was for a period of one year from the date of execution by the City of Columbus, up to and including April 30th, 2024, with yearly renewal options for an additional two years, on a year-by-year basis, authorized by Ordinance 1230-2023. The contract amount authorized was $185,000.00.
Ordinance 0134-2024 authorized the first renewal increasing the funding allocations by $185,000.00 and extended the contract through April 30th, 2025.
Ordinance 3467-2024 authorized the second rene...
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