CC MEETING: APRIL 2, 2024
DATE: March 25, 2024
TO: Erin Rinehart, City Manager
FROM: Samantha Dean, Workforce Services Director
Chrystal Davis, Assistant City Manager
Title
Consider Approval Of RFQ #24-010 For Fiduciary Consultant Services To Hyas Group In An Annual Amount Of $45,000.00, For A Three-Year Contract Total Amount Not To Exceed $135,000.00.
Body
BACKGROUND:
This contract will be utilized by the Workforce Services Department to assist in providing fiduciary consulting services to the fiduciary committee. In February 2018, the City Council approved the Fiduciary Committee Charter which establishes the duties and responsibilities of the City of Carrollton Deferred Compensation Plan and Retirement Health Savings Plan. This consultant is tasked with advising the Fiduciary Committee.
A Requests for Qualifications (RFQ) was advertised on January 29, 2024, that solicited interested vendors to submit packets highlighting their ability to provide the requested services. Bid notifications were posted online and in the Dallas Morning News and previous and interested vendors were contacted. The RFQ closed on February 25, 2024, and a total of two (2) responses were received.
The submissions were reviewed by an evaluation committee and a selection was made based on criteria relative to qualification, experience, and cost. The award will be for a one-year initial term. The award also includes two additional, one-year renewal options, if mutually agreed upon by the City and the vendors, for a potential three-year total contract.
FINANCIAL IMPLICATIONS:
The services for RFQ #24-010 will be purchased from budgeted funds for the cost center and amount as listed below.
COST CENTER LINE ITEM BUDGET AMOUNT
6300 21525 $45,0000
IMPACT ON COMMUNITY SUSTAINABILITY:
This project supports and aligns with the City Council's goals and objectives to ensure City services are an optimal value.
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