Item 23 - Adopt a Resolution and Approve Agreement for Tax Revenue Auditing, Analysis, Forecasting, and Reporting Service

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Tax Revenue Auditing, Analysis, Forecasting, and Reporting Services July 16, 2024 Page 2 welcome to submit bids for all or only some of the options listed. The eight options were as follows: • Option A: Sales & Use Tax (Bradley -Burns Allocation) and Transactions & Use Tax (Santa Ana Measure X) • Option B: Property Tax, Property Tax In -Lieu of Vehicle License Fees, Residual Allocations from the Redevelopment Property Tax Transfer Fund, and Documentary Stamp Tax: $88.39M, 22.05% of GF Total Revenue • Option C: Non -Regulatory Business License Tax • Option D: Business License Tax for Cannabis Business • Option E: Hotel Visitors Tax • Option F: Utility Users Tax for Electric, Gas & Telecommunications Services • Option G: Statistical Report Package for the Annual Comprehensive Financial Report Three proposals were received and were subsequently reviewed by a four -member committee composed of staff from the Finance and Management Services Agency and the Community Development Agency. Each of the responding consultants were interviewed and evaluated based on the following criteria: • Qualifications • Experience • Proposed work plan for the requested scope of services • Client references • Cost of providing services The proposals were ranked accordingly as follows: Rank Firm Options bid 1 HdL Coren & Cone B, G 2 Hinderliter, de Llamas and Associates A, C, D, E, F 3 MuniServices LLC A, C, D, E, F, G The proposals submitted by Hinderliter, de Llamas and Associates ("HdL") and HdL Coren & Cone ("HdLCC") for the options bid upon were found to be the most responsive to the City's needs, offer the best value, and are appropriate for the services requested. HdL and HdLCC both possess strong qualifications, experience, and client references as well as appropriate proposed work plans that will provide for a flexible and cost- effective auditing program. Both consultants also possess extensive experience in implementing identical services for comparable and neighboring cities, including the Cities of Long Beach, Corona, Costa Mesa, Irvine, Newport Beach, Ontario, Riverside, and Torrance.