S72-E26211 - Approve an ordinance awarding a professional services contract to the University of Houston C.T. Bauer College of Business/Institute in an amount not to exceed $100,000.00 for regional forecasting services for the Finance Department.
Specific Explanation:
The Director of the Finance Department and the Chief Procurement Officer recommend that City Council approve an ordinance awarding a three-year professional services contract, with two one-year options to the University of Houston C.T. Bauer College of Business/Institute in an amount not to exceed $100,000.00 for regional forecasting for the Finance Department. The Director of Finance and/or the Chief Procurement Officer may terminate the contract at any time upon 30-days written notice to the contractor.
The scope of work requires the University of Houston C.T. Bauer College of Business/Institute for Regional Forecasting to provide Houston area forecasts of employment, inflation, interest rates, sales tax receipts and mid fiscal year update sales tax revenue forecast for the Finance Department.
Required services/deliverables for this project include:
1. “Mid-Fiscal Year updates sales tax revenue forecasts” report due by March 1st of the
then-current calendar year of the Term.
2. "Houston area forecast of employment, inflation, interest rates, and sales tax receipts" report
due by September 1st of the then-current calendar year of the Term.
M/WBE Participation:
Zero-Percentage Goal document approved by the Office of Business Opportunity.
Fiscal Note:
Funding for this item is included in FY 2017 Adopted Budget. Therefore, no Fiscal Note is required as stated in the Financial Policy Ord. 2014-1078.
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_______________________________________
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Jerry Adams, Chief Procurement Officer
Finance/Strategic Procurement Division
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Department Approval Authority
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Estimated Spending Authority
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Department
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FY 2017
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Out Years
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Total
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Finance
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$20,000.00
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$80,000.00
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$100,000.00
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