25C - AGMT INDIRECT COST ALLOC PLAN

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EXHIBIT 7 AGREEMENT WITH CLEARSOURCE FINANCIAL CONSULTING TO DEVELOP AN INDIRECT COST ALLOCATION PLAN AND INTERNAL SERVICE FUNDS COST ALLOCATION METHODOLOGY THIS AGREEMENT is made and entered into on this 201h day of August, 2019 by and between ClearSource Financial Consulting, a California corporation ("Consultant"), and the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California ("City"). RECITALS A. On June 6, 2019, the City issued Request for Proposal 19-021 seeking qualified consultants to develop an indirect cost allocation plan and internal service funds costs allocation methodology utilized to review and update the City's interagency charges and provide the City a comprehensive cost allocation plan which is necessary to maintain the City's continued compliance with applicable laws and regulations on this matter. B. Consultant submitted a timely proposal, which was selected by the City. Consultant represents that it is able and willing to provide such services to the City. C. In undertaking the performance of this Agreement, Consultant represents that it is knowledgeable in its field and that any services performed by Consultant under this Agreement will be performed in compliance with such standards as may reasonably be expected from a professional consulting firm in the field. NOW THEREFORE, in consideration of the mutual and respective promises, and subject to the terms and conditions hereinafter set forth, the parties agree as follows: 1. SCOPE OF SERVICES Consultant shall perform during the term of this Agreement, the tasks and obligations including all labor, materials, tools, equipment, and incidental customary work required to fully and adequately complete the services described and set forth in the attached Scope of Services identified as Exhibit A, attached hereto and incorporated by reference. 2. COMPENSATION a. City agrees to pay, and Consultant. agrees to accept as total payment for its services for City, the rates and charges identified in the attached cost proposal identified as Exhibit B. The total amount to be expended during the term of this Agreement shall not exceed $170,700. Per Exhibit B, $113,100 shall be allocated for years 1-3. For any extension periods exercised per Section 3, below, an additional $28,800 per each optional year shall be compensated per Exhibit B. b. Payment by City shall be made within forty-five (45) days following receipt of proper invoice evidencing work performed, subject to City accounting procedures. Payment need not be made for work which fails to meet the standards of performance set forth 45862vl 25C-5