Title
Charlotte Water Rate Model Financial Consulting Service
Action
Action:
A. Approve a unit price contract with Raftelis Financial Consultants, Inc. for rate model financial consulting services for an initial term of three years, and
B. Authorize the City Manager to renew the contract for up to two, one-year terms with possible price adjustments and to amend the contract consistent with the purpose for which the contract was approved.
Body
Staff Resource(s):
Angela Charles, Charlotte Water
Shawn Coffman, Charlotte Water
Melissa Westfall, Charlotte Water
Explanation
§ This contract will provide for rate consulting services to be used for annual projection of water consumption and application of the approved rate methodology.
§ The rate consultant also assists in conducting sensitivity analysis to assure a high probability that the projected rates and fees will produce the amount of revenue needed.
§ City Council approved the current Charlotte Water Revenue Manual on June 12, 2023.
§ On March 3, 2023, the city issued a Request for Proposals (RFP); two responses were received.
§ Raftelis Financial Consultants, Inc. best meets the city’s needs in terms of qualifications, experience, cost, and responsiveness to RFP requirements.
§ Annual expenditures are estimated to be $100,000.
Charlotte Business INClusion
Per Charlotte Business INClusion Policy: Part C: Section 2.1(a) The city shall not establish Subcontracting Goals for Contracts where (a) there are no subcontracting opportunities identified for the Contract; or (b) there are no MWBEs or SBEs certified to perform the scopes of work that the city regards as realistic opportunities for subcontracting.
This contract meets the provisions of (a) - No subcontracting opportunities
Fiscal Note
Funding: Charlotte Water Operating Budget