Explanation
Background:
Ordinance 0645-2014, passed 03/24/14, authorized a contract for the term 04/01/14 through 03/31/15 between the Columbus City Attorney's Office and Capital Recovery Systems Inc. for the maximum amount of $360,000.00. Collections have exceeded estimated amounts and this ordinance will authorize additional expenditures up to $100,000.000 for collection services by Capital Recovery Systems Inc. This will bring the total maximum of the contract to $460,000.00. All other terms and conditions of the contract will remain unchanged.
Emergency: The City Attorney is requesting emergency designation so the collection process can continue without interruption.
Fiscal Impact:
This contract is self-funding and collections far exceed the amount paid to the collection firm. The fees paid under this contract are 30% of the first $30,000.00 collected and 10% of any additional amounts collected on a specific claim.
Contract Compliance Number:
Capital Recovery Systems Inc. 31-1570459-001 expires 12/02/15.
This company is neither debarred according to the Excluded Party Listing System of the Federal Government nor prohibited from receiving a contract according to the Auditor of State Unresolved Findings for Recovery Certified Search.
Title
To authorize the supplemental appropriation and expenditure of One Hundred Thousand Dollars from the collection fund; to authorize and direct the City Attorney to modify and increase a contract with Capital Recovery Systems Inc.; and to declare an emergency. ($100,000.00)
Body
WHEREAS, Ordinance No. 0645-2015 authorized the City Attorney to contract with Capital Recovery Systems, Inc. for the collection of the city's accounts receivables for the period of 04/01/14 through 03/31/15 in the maximum amount of Three Hundred Sixty Thousand Dollars ($360,000.00); and
WHEREAS, collections during the contract period have exceeded the original estimate; and
WHEREAS, it is in the city's interest to modify and incr...
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