Explanation
This ordinance authorizes a second modification of an existing contract with AED Advisers in the amount of $40,000. In May 2020, the City Auditor’s Office - Division of Income Tax, through the utilization of a Request for Proposals process (RFP015616) received (4) responses for professional services related to the Division’s compliance with IRS Publication 1075. In July 2020, the Division established a contract with AED Advisers for $20,000.00 via PO232096 to perform a thorough evaluation of the Division’s current safeguarding policies and practices in anticipation of the pending IRS on-site review. A first modification was done in September 2020 (PO241952) to extend the professional services and increase the contract amount by $67,200. AED Advisers reviewed existing documentation, conducted interviews with key Division and Department of Technology personnel, and assisted with preparation of IRS deliverables. It has been determined that there is still a need for additional professional services to fully evaluate the division’s needs and assist with extended timelines for IRS reports and submissions.
This ordinance represents modification #2 to include additional funding for an extended assessment period and an implementation period. This 2nd modification is needed to support extended timelines for IRS submissions and onsite reviews as well as internal inspection periods and managing ongoing compliance requirements. The total cost of this modification is $40,000 with a contract term of one year, commencing on July 1, 2020 and ending on June 30, 2021. This modification is critical to the success of this on-going project, which is being undertaken to ensure that the City’s safeguarding practices for federal tax information meet and exceed regulatory requirements.
1. Amount of additional funds to be expended: $40,000.00
Original contract amount (PO232096): $20,000.00
Amount of modification (1943-2020) $67,200....
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