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TRANSPORTATION AGENCY FOR MONTEREY COUNTY Memorandum | |
| | | | | | | | | To: | Board of Directors | | From: | Rita Goel, Director of Finance & Administration | | Meeting Date: | June 26, 2019 | | Subject: | Agreement for Accounting Services |
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| | | | | | | | | RECOMMENDED ACTION: | Agreement for Accounting Services:
- AUTHORIZE the Executive Director to execute contract Amendment #1 with Oppidea LLC in an amount not to exceed $28,020 per year for three additional years, in order to provide accounting services for the period ending December 31, 2022;
- APPROVE the use of $28,020 per year for the extended term of the Agreement in funds budgeted for this purpose; and
- AUTHORIZE the Executive Director to make administrative changes to the contract if such changes do not increase the Agency’s net cost, subject to approval by Agency counsel.
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| | | | | | | | | SUMMARY: | | The Agency’s current Agreement for accounting services expires December 31, 2019. Oppidea, LLC was selected in 2016 after a Request for Proposals was issued. At that time, an option to extend the contract till December 31, 2022 was also authorized by the Board. Staff recommends extending the contract with Oppidea, based on experience, knowledge and cost. The contract rate of $28,020 per year, which was negotiated in 2016, will continue in Amendment #1 for a six-year total of $168,120. |
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| | | | | | | | | FINANCIAL IMPACT: | | The consultant has a monthly rate of $2335 or an annual cost of $28,020. Any changes to this rate would be brought back to the Board for approval. There are sufficient funds in the budget to cover this expense on an annual basis. |
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| | | | | | | | | DISCUSSION: | The Agency’s current contract for accounting services expires on December 31, 2019 and an agreement needs to be in place before the current Agreement expires. If the proposed Amendment is not approved, staff needs time to prepare another Request for Proposals.
Oppidea, LLC was selected in 2016 after a Request for Proposals was issued. At that time, an option to extend the contract till December 31, 2022 was also authorized by the Board. Oppidea understands the Agency’s specialized accounting needs and requirements.
Staff recommends the approval of a three-year extension of the current Agreement with Oppidea to provide accounting services to the Transportation Agency for Monterey County, based on experience, knowledge and cost.
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