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III. Pricing <br />A. Project Budget <br />The time and cost related to project management advisory services vary considerably based upon <br />a variety of factors that cannot be accurately predicted in advance. As a result, GFOA is <br />proposing to bill the City on an hourly basis for work actually performed. <br />Because of strong project management strengths in the City, it is difficult for GFOA to prepare an <br />estimate of the costs involved. <br />At the City's request GFOA estimated a maximum of two full days on-site each week during the <br />fourteen-month engagement. Often times this much on-site may not be required, and the City <br />would only be invoiced for actual costs. When work is done off-site the costs would be less as <br />described below. <br />The maximum cost of on-site work each week (a Monday and Tuesday, or a Tuesday and <br />Wednesday) would be $195,000. <br />Payment and Contractual Terms. GFOA will invoice the City on a monthly basis. The City <br />will be billed an hourly rate of $185 per hour plus a $40 per hour travel loading rate for all work <br />effort incurred on-site. <br />