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File #: 200962.    Version: 1 Name:
Type: Staff Recommendation Status: Passed
File created: 3/17/2021 In control: City Commission
On agenda: 4/1/2021 Final action: 4/1/2021
Title: Financial Modeling and Forecasting Services (B)
Attachments: 1. 200962-A_Gainesville Financial Modeling and Forecasting Proposal_Stantec_20210401.pdf, 2. 200962-B_Notice of Intent to Purchase Sole Single Source Products and or Services_20210401.pdf
Financial Modeling and Forecasting Services (B)

The City of Gainesville’s Strategic Plan’s Action Agenda for Goal 5 “Best in Class” Neighbor Services requires the development of a ten (10) year financial model in order to provide expense and revenue forecasting for all City funds with the ability to create scenario based comparisons in order to identify short-term and long-term impacts of financial decisions, provide a framework for scenario evaluation and sensitivity tests, and consider future cost requirements/events to ensure financial sustainability.

Forecasting factors include, but are not limited to: millage rate, property tax growth, fire assessment, inter local agreements, state revenue sharing estimates, annual required pension contributions, collective bargaining agreements, capital investments including renewal and replacement, general fund transfers (GFT), debt service obligations, CPI, and maintaining reserve requirements. Additionally, the model will allow for real time adjustments of economic conditions to project budget impacts on city services and staffing.

Funds that will be evaluated as part of this model include:

? General Fund
? Solid Waste Fund
? Stormwater Fund
? RTS Fund
? Building Code Fund
? Wild Spaces Public Places Fund
? Tree Mitigation Fund
? Roadway Fund

A Notice of Intent to Purchase Sole Source/Single Source Products and/or Services was posted on DemandStar by the Procurement Division from January 21, 2021 through February 3, 2021, indicating the City’s intent to purchase proprietary financial modeling and forecasting services and/or related software from Stantec. No responses indicating bona fide competition exists were received from other vendors prior to the expiration of the notice. The quote for services from Stantec is included as back-u...

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