Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Finance and Management to enter into contract with Raftelis Financial Consultants, Inc. to provide for cost of service studies, review and develop direct/indirect cost allocation formulas, and internal fee analyses.
A cost allocation plan will evaluate the basis of applying comprehensive indirect and direct charges, and accurately account for the true cost of providing various City services (and shared services) by and between departments. This plan will allocate all direct and indirect costs within the departments and across departments, as appropriate. It will also allow the City to appropriately allocate general and administrative costs in its budget, and properly identify overhead rates that can be used in the calculation of billable hourly rates, user fees, and reimbursements from other departments and governmental agencies. Results from the cost allocation plan may assist with fee studies.
The Department of Finance and Management utilized a Request for Proposals (RFP) process to identify and assess qualified firms. Proposals were submitted in accordance with the relevant provisions of Section 329 of the Columbus City Code. Proposals were due December 16, 2020, and five (5) proposals were received.
A committee of three (3) individuals reviewed proposals and determined preliminary scores. The committee then identified a short list of three (3) vendors to conduct presentations. After the evaluation of proposals and presentations, Raftelis Financial Consultants, Inc. received the highest overall score from the RFP committee and as such is being recommended for this contract. The term of the contract would be one (1) year, expiring May 31, 2022, with the option to renew for one (1) additional year.
Raftelis Financial Consultants, Inc.; Federal Tax ID# 20-1054069
Fiscal Impact: Funding in the amount of $76,960.00 is budgeted and available within the 2021 Fleet Managemen...
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