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Award a contract to Cherry Bekaert Advisory LLC for GASB Consulting Services <br />May 20, 2025 <br />Page 3 <br />workload, as the consultant's proposed cost is based on the estimated number of leases <br />or contracts reviewed each year. The actual number of documents reviewed may vary. <br />This contingency may also be used to support implementation of future GASB <br />pronouncements and to assist in drafting related policies and procedures. <br />The Request for Proposal (RFP) No. 25-005 was advertised on February 24, 2025 and <br />offers were solicited. A summary of the RFPs and offers received is as follows: <br />481 Vendors were notified <br />24 Vendors downloaded the RFP <br />1 Santa Ana vendors notified <br />7 Proposals received <br />1 Proposal received from Santa Ana vendor <br />Outreach Efforts <br />The Purchasing Division advertised this project on the City's online bid management and <br />publication system, which directly notified one Santa Ana vendor, one of which <br />downloaded the RFP. The vendor based in Santa Ana submitted a proposal for <br />consideration. However, it did not rank in the top four. <br />Staff's outreach efforts also included directly reaching out to consulting firms well-known <br />in the local government circles requesting submission of proposals for the above - <br />referenced RFP. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />Funding is available in the FY24-25 budget and funding for subsequent fiscal years will <br />be included in the proposed budgets for City Council consideration. Any remaining <br />balances not expended at the end of the fiscal year will be presented to City Council for <br />approval as carryover. <br />Fiscal Year <br />Accounting <br />Fund <br />Accounting Unit, <br />Amount <br />Unit — <br />Description <br />Account <br />Account # <br />Description <br />Contract 2-Year Term <br />2024-25 <br />01110110- <br />General Fund <br />FIN/MGMT SVS- <br />$51,600 <br />62300 <br />Accounting, Contract <br />Services -Professional <br />2025-26 <br />01110110- <br />General Fund <br />FIN/MGMT SVS- <br />$24,000 <br />62300 <br />Accounting, Contract <br />Services -Professional <br />