Title
Consider a resolution authorizing the Mayor to execute a Professional Consulting Services Agreement with Gradient Solutions Corporation for financial services related to City purchasing cards.
Body
This agreement for professional consulting services with Gradient Solutions Corporation provides analytics for the City's Pro-Card transactions. These analytics identify spending habits, trends and anomalies that need to be audited. This is an internal control tool to evaluate compliance with purchasing policies, possible misuse of the card and to gain efficiencies by looking at the data as a whole instead of on an individual level. The City also receives internal control professional advice as part of the contract. The City also annually reviews and updates its Pro-Card procedures, requires cardholders to annually review the user agreement and regularly trains staff.
The City has had a professional relationship with Gradient Solutions Corporation since FY 2017. The annual agreements had been executed through the City Manager process previously. This new agreement is for 5 years and has a not to exceed cost of $143,791.
In consideration for the professional consulting services to be performed by the consultant, City agrees to pay a monthly fee of $2,100 for the first year and a compounding 3% increase on top of that for the following years. There is an annual $2,000 contingency amount allowed in the contract for reimbursable expenses. Reimbursable expenses are subject to approval by the City.
Cost: $143,791
Source of Funds: General Fund