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

Home Browse Search

Tax Revenue Auditing, Analysis, Forecasting, and Reporting Services July 16, 2024 Page 3 A full listing of the services to be provided can be found in Exhibit 1 — Consultant Agreement for HdL and Exhibit 3 — Consultant Agreement for HdLCC. The reports, analyses, and information derived from the audit programs will be used for budget planning, revenue forecasting, trend analysis, economic development analysis, and other projects requiring the data to assist in analyzing the City's economic standing. ENVIRONMENTAL IMPACT There is no environmental impact associated with this action. FISCAL IMPACT Funding for the services to be rendered for FY 2024-25 were already included in the adopted budget. Funding for subsequent fiscal years will be included in the appropriate proposed budgets for City Council consideration. The annual contract cost is approximately 0.076% of the General Fund revenue to be maximized with these services (less than one -tenth of one percent). Fiscal Year Accounting Unit Fund Accounting Unit, Amount — Acct # Description Acct Description 2024-25 01110130-62300 General Fund Contract Services $243,369 Professional 2025-26 01110130-62300 General Fund Contact Services $255,538 Professional 2026-27 01110130-62300 General Fund Contract Services $268,315 Professional 2027-28* 01110130-62300 General Fund Contract Services $283,675 Professional 2028-29* 01110130-62300 General Fund Contract Services $295,817 Professional Grand Total: $1,346,714 *Denotes an extension year, not part of initial term EXHIBIT(S) 1. Consultant Agreement for HdL 2. Resolution Authorizing Examination of Tax Records for HdL 3. Consultant Agreement for HdLCC 4. RFP 24-010 Submitted By: Kathryn Downs, FMSA Executive Director Approved By: Alvaro Nunez, Acting City Manager