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AGREEMENT FOR PROFESSIONAL SERVICES
BURTON & ASSOCIATES, INC. AGREEMENT FOR PROFESSIONAL SERVICES Burton & Associates Project No. TBD Title: FY 2016 Integrated Financial Sustainability Analysis This Agreement, made and entered into on the date last executed below, by and between BURTON & ASSOCIATES, INC. and THE CITY OF CLEARWATER, FL, hereinafter called "CLIENT ", is for the services described under item 2 of this Agreement. BURTON & ASSOCIATES, INC. CLIENT Contact: Mr. Michael E. Burton, President Address: 200 Business Park Circle, Suite 101 St. Augustine, Florida 32095 Phone: (904) 247 -0787 e- mail: mburton (ci,burtonandassociates.com Contact: Mr. Jay Ravins, Finance Director Address: City of Clearwater Municipal Services Building, 3rd Floor 100 S. Myrtle Ave. Clearwater, FL 33756 Phone: (727) 562 -4530 e -mail jay.ravins @myclearwater.com 1. PROJECT: General Nature of Project — Conduct study to conduct an integrated evaluation of the financial sustainability of the City's General Fund. The analysis will include interactive modeling of the current and projected financial condition of the fund, identification and analysis of alternative options for cost reductions and/or revenue enhancements and development of a ten year plan for financial sustainability of the fund. 2. SCOPE OF SERVICES: Description of services to be performed by BURTON & ASSOCIATES, INC. (if additional pages are necessary, they are identified as Attachment A): Attachment A presents the scope of services for this Task Order. 3. TIME OF COMPLETION: Services called for herein shall be completed no later than 120 days from receipt of a notice to proceed in accordance with the Project Milestone Schedule in Attachment B, unless otherwise extended by the agreement of both parties. 4. COMPENSATION: The compensation to be paid BURTON & ASSOCIATES, INC. for providing the services called for herein shall be: General Fund Only - A Fixed Fee of $37,270, less a 15% discount of $5,591 for a net fixed fee of $31,679. 5. DURATION: This Agreement shall remain in effect until completion of the project and any additional services authorized in accordance with Section 10, unless terminated as provided herein, or extended by mutual agreement in writing. 6. FIXED FEE: This project is a fixed fee project. Invoices for fixed fee contracts will represent percentage work completed by task, as presented in the Project Work Plan in Attachment A — Scope of Services, during 1 each calendar month up to a maximum of the agreed upon fixed fee contract amount in Section 4 - Compensation. 7. INVOICE PROCEDURE: BURTON & ASSOCIATES, INC. shall submit monthly invoices to CLIENT requesting payment for work accomplished during each calendar month. Payment of invoices will be made by CLIENT within 30 days of receipt of invoice. Invoices for fixed fee contracts will represent percentage work completed during each calendar month. 8. INSURANCE: BURTON & ASSOCIATES, INC. shall procure and maintain throughout the term of this Agreement the following insurance with the limits set forth herein, and shall, upon executing this Agreement, provide to CLIENT a certificate(s) of insurance evidencing same, and showing CLIENT as an additional insured: A. Worker's Compensation Insurance as required by law. B. Unless otherwise provided for herein, Comprehensive General Liability Insurance including contractual liability and liability arising out of the use of automobiles with the following limits: (1) Bodily Injury Liability Insurance with limits of $1,000,000 per occurrence and $2,000,000 aggregate; (2) Property Damage Liability Insurance with a limit of $50,000 per occurrence. C. Unless otherwise provided for herein, Errors and Omissions Liability Insurance with a limit of $3,000,000 per claim and aggregate. 9. TERMINATION: This Agreement may be terminated by either party by seven (7) days written notice in the event of substantial failure to perform in accordance with the terms herein by the other party through no fault of the terminating party. If this Agreement is so terminated, CLIENT shall pay BURTON & ASSOCIATES, INC. compensation for work satisfactorily completed up to date of termination. CLIENT may terminate this agreement for convenience, or suspend the work called for herein for any business reason. In the event of such termination or suspension, CLIENT shall pay BURTON & ASSOCIATES, INC. for the work accomplished up to the date of termination or suspension. 10. ADDITIONAL SERVICES: Additional services may be performed under this Agreement if agreed to by both parties in writing. 11. PUBLIC RECORDS LAW EXEMPTION: CLIENT and BURTON & ASSOCIATES shall comply with the provisions of Chapter 119, Florida Statutes (Public Records Law) as provided for in the following paragraphs. Pursuant to F.S. 119.0701(2): BURTON & ASSOCIATES, INC. will comply with public records laws, specifically to: (a) Keep and maintain public records that ordinarily and necessarily would be required by the public agency in order to perform the service. (b) Provide the public with access to public records on the same terms and conditions that the public agency would provide the records and at a cost that does not exceed the cost provided in this chapter or as otherwise provided by law. (c) Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law. (d) Meet all requirements for retaining public records and transfer, at no cost, to the public agency all public records in possession of the contractor upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the public agency in a format that is compatible with the information technology systems of the public agency. (3) If a contractor does not comply with a public records request, the public agency shall enforce the contract provisions in accordance with the contract. 2 BURTON & ASSOCIATES may use its proprietary Financial Analysis and Management System (FAMS XL(D) in the accomplishment of work under this contract. This contract recognizes that FAMS XL© is a proprietary product of BURTON & ASSOCIATES, includes trade secrets and, as such, the FAMS XL© model and its source code is exempt from public records laws in accordance with FS 815.045, a copy of which is included below: 815.045 Trade secret information. - -The Legislature finds that it is a public necessity that trade secret information as defined in s. 812.081, and as provided for in s. 815.04(3), be expressly made confidential and exempt from the public records law because it is a felony to disclose such records. Due to the legal uncertainty as to whether a public employee would be protected from a felony conviction if otherwise complying with chapter 119, and with s. 24(a), Art. I of the State Constitution, it is imperative that a public records exemption be created. The Legislature in making disclosure of trade secrets a crime has clearly established the importance attached to trade secret protection. Disclosing trade secrets in an agency's possession would negatively impact the business interests of those providing an agency such trade secrets by damaging them in the marketplace, and those entities and individuals disclosing such trade secrets would hesitate to cooperate with that agency, which would impair the effective and efficient administration of governmental functions. Thus, the public and private harm in disclosing trade secrets significantly outweighs any public benefit derived from disclosure, and the public's ability to scrutinize and monitor agency action is not diminished by nondisclosure of trade secrets. Therefore, if BURTON & ASSOCIATES uses FAMS XL© in the accomplishment of work under this contract, BURTON & ASSOCIATES may not be compelled to disclose FAMS XL©, or its source code, to CLIENT or any other parties for any purpose or reason; however, BURTON & ASSOCIATES will conduct interactive work sessions with CLIENT staff to review the input and results of analyses conducted using FAMS XL© and will disclose and deliver to CLIENT output schedules from the FAMS XL© model for the purpose of accomplishing the CLIENT's business. Output schedules of FAMS XL© that are delivered to CLIENT in deliverable products such as reports, presentations, etc. are excluded from this trade secret exemption. 12. ENTIRETY OF AGREEMENT: This writing embodies the entire agreement and understanding between the parties hereto, and there are no other agreements and understanding, oral or written, with reference to the subject matter hereof that are not merged herein and superseded hereby. No alteration, change or modification of the terms of the Agreement shall be valid unless made in writing, signed by both parties hereto. ADDENDUM ATTACHMENT A — Scope of Services 3 IN WITNESS WHEREOF, this Agreement is accepted on the date last written below. For CLIENT: For BURTON & ASSOCIATES, INC.: Signed: Signed: Name: Name: Michael E. Burton Title: Title: President Date: Date: November 2, 2015 4 Countersigned: CITY OF CLEARWATER, FLORIDA William B. Horne II City Manager Approved as to form: Attest: P�NAr fR 4' o : Rosemarie Call a City Attorney City Clerk EsrgBIISft*D FY 2016 Integrated Financial Sustainability 4A Analysis ATTACHMENT A — SCOPE OF SERVICES Scope of Services: This study is to evaluate the financial sustainability of the City's General Fund. The analysis will include interactive modeling of the current and projected financial condition of the fund, identification and analysis of alternative options for cost reductions and/or revenue enhancements and development of a ten year plan for financial sustainability of the fund. Several interactive work sessions will be conducted during the project with City staff and City Council to review the results of the analysis and to evaluate scenarios for financial sustainability. The Project Work Plan and Cost Estimate Schedule for this Project is presented in the Burton & Associates Proposal Letter on the following pages, which is incorporated into this Agreement. Notice to Proceed: Approval of this Agreement serves as Notice to Proceed with the project. 5 BURTON & ASSOCIATES August 19, 2015 Ms. Jill Silverboard Assistant City Manager City of Clearwater 112 S. Osceola Avenue Clearwater, FL 33756 Re: FY 2016 Integrated Financial Sustainability Analysis - Proposal Dear Ms. Silverboard: As discussed with you, I have prepared this proposal to conduct an Integrated Financial Sustainability Analysis (Analysis) for the City. As requested, this Analysis will be a comprehensive and integrated analysis of 1) the General Fund, 2) the Administrative Services Fund, 3) the Garage Fund, 4) the General Services Fund, 5) the Central Insurance Fund and 6) the utility enterprise funds to include the Water and Sewer Fund, the Sanitation Fund and the Stormwater Fund. We have included initializing ten year financial sustainability models for all of the above referenced funds (the utility funds have all been initialized under our continuing services contract) and the linking of all models to account for interfund transfers and dependencies fund to fund. We have structured the proposal into six (6) work elements corresponding to individual the analyses of the above referenced funds. The modeling will be developed using our FAMS -XL© modeling system, the same modeling system we have used for the utility enterprise funds for a number of years. This will result in a totally integrated analysis the funds included in the scope of the project all on the same modeling platform and in the same format as the current utility enterprise funds allowing for seamless cross -fund evaluations. This will allow 1) a continuation and expansion of the modeling process that the City has been using for the utility enterprise funds in a modeling analysis integrated with the other funds included in this analysis, and 2) a clear vision as to the impacts upon all funds of decisions regarding each fund being analyzed. This letter presents our proposed scope of services and fee proposal to perform the Analysis. Scope of Services This section describes the scope of services to be provided based upon our understanding as discussed in our meeting with you and clarifications determined during a subsequent telephone conference with you and Jay Ravins. The scope of this analysis will be to initialize our ten year financial sustainability model for the General Fund and the other funds referenced above and to link these funds and the above referenced utility enterprise funds that we have previously initialized under our continuing services contract into an Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 320950 Phone (904) 247 -0787 E -mail: mburton @burtonandassociates.com Page 1 integrated financial sustainability modeling analysis. This integrated financial sustainability modeling analysis will be used to evaluate; 1. The current and projected financial condition of the City's General Fund (GF), and each of the other funds included, 2. The impact upon each fund of interfund transfers, policies and interfund dependencies, 3. Potential outsourcing of selected internal services being provided within the funds, such as fleet services, 4. Alternatives concerning ownership /leasing of buildings, 5. Use of reserves in the Central Insurance Fund as back -up to the General Fund Reserves as "rainy day" reserves, 6. Use of interfund loans from the Central Insurance Fund Reserves, 7. Alternatives for smoothing of health insurance costs, and 8. Other financial decision alternatives as identified with City staff during the Analysis. This process will support the development of the FY 2017 budget and could also be used to inform the development of not only the current budget but also a multi -year budget if the City so desires. The modeling process will also allow City staff and the City Council to measure the effects of various combinations of cost reductions and /or revenue enhancement options that could be considered to achieve, enhance and /or ensure financial sustainability over the forecast period and to develop an integrated financial plan that will be sustainable over the ten year projection period. Specifically, we will work with you using our dynamic, interactive modeling process to determine 1) the outcomes that would be required for Tong -term financial sustainability and 2) the impacts upon other funds of decision alternatives in the management of each of the funds included in the analysis. To the extent that revenue enhancements are required, we will include an analysis of the net impact of the revenue enhancement alternatives evaluated upon parcels of various values and utility customers of various classes. The final objective will be to present 1) an integrated vision of the current and future financial condition of the General Fund and the other funds included, and 2) evaluation of decision alternatives within each fund upon the General Fund and any other funds affected, in order to develop an integrated ten year financial plan for the most effective long term financial management of the funds and to ensure the long term financial sustainability of all funds. Approach We propose a comprehensive process that will involve 1) customizing our General Fund FAMS -XL© model to precisely replicate the financial dynamics of your General Fund, and 2) initiating financial sustainability models using our FAMS -XL© model for the other funds included (the utility enterprise funds have already been initialized under our continuing services contract) all of which will be linked in order to model the interfund transfers fund to fund. These Models will serve as the tools which we will use to establish a baseline ten -year financial forecast of each fund's current and projected financial condition and to evaluate: Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 32095. Phone (904) 247 -0787 E -mail: mburton @burtonandassociates.com Page 2 1. Cash flow and reserve levels, 2. Interfund transfers and other interfund transactions, policies and dependencies and their effects upon the General Fund and other funds, 3. Cost reduction and revenue enhancement /diversification alternatives that may be identified during the Analysis, and 4. Potential economic development initiatives and their affects upon the General Fund, The final result will be the development of a ten -year, integrated, sustainable financial plan for all funds included. The process will include a number of meetings and interactive work sessions with City staff to ensure that we have understood and accurately reflected the City's flow of funds, reserve policies, budget categories, cost escalation rates, growth assumptions, etc. in the Models. During these work sessions we will work with City staff in determining viable scenarios of interfund transactions and dependencies, reduced costs and /or increased revenue as required, through either revenue diversification alternatives and /or increases in current revenue sources, in order to provide for the most effective and financially sustainable management plan and future for the City at its desired levels of service. After review with City Management we will present the results /alternative scenarios to the City Council in a work session after which we will make any adjustments based upon input from the City Council. To the extent required, we can present the adjusted results to the City Council in a second workshop after which we will make any further adjustments based upon input from the City Council, at which time we will document the results of the Analysis in a Final Report. We have structured this project into six (6) work elements, one work element for each fund (the utility enterprise funds are included in one work element). For each work element the following will be accomplished (the following has already been accomplished for the utility enterprise funds, however, these funds will be linked into the integrated analysis): Diagnostic Evaluation and Development of a Sustainable Ten Year Financial Plan This task will include setting up our FAMS -XL© model to replicate the financial dynamics of each fund assuming the status quo in terms of expenses, revenues and interfund transfers and dependencies, adjusted by reasonable escalation factors for future years. The results of this analysis will be a diagnostic view of 1) each fund's current financial condition in terms of cash flow, reserve balances (as applicable) and other factors as identified during the study, and 2) the fund's projected financial condition over a ten year projection period based upon the normal escalation factors mentioned above. We will then work with City staff to identify financially sustainability strategies to include 1) potential cost reduction and revenue enhancement /diversification strategies as required, 2) transfers from other funds, and 3) other alternative decision scenarios as identified with City staff during the Analysis to be modeled to determine the effect upon the financial sustainability of each fund in the analysis. The completion of this task will be the development of alternative strategies that will provide for the most effective financial management of each fund and ensure the financial sustainability of each fund over the ten year projection period. Present Findings to the City Council and Prepare a Final Report In this task, we will present the findings of the analysis to the City Council in an interactive workshop. During this workshop, the financial sustainability model for the subject fund(s) will be up and running Burton & Associates 200 Business Park Circle, Suite 101.St. Augustine, Florida 32095• Phone (904) 247 -0787 E -mail: mburton @burtonandassociates.com Page 3 with the control panel displayed on a large viewing screen. During the work session we can evaluate scenarios and perform ad hoc "what if" analyses at the Council's request in real time with instantaneous results. At the completion of the workshop, we will make any further adjustments to the models based upon input from the City Council, at which time we will document the results of the Analysis in a Draft Report and then a Final Report. Fee Proposal I have developed a detailed Work Plan and Cost Estimate Schedule (Schedule) that presents a detailed description of the tasks and sub -task of the process, the estimated man -hours required by consultant, and the estimated fees to accomplish the analysis. The Schedule is enclosed in the Appendix at the end of this proposal and it shows the cost estimates by work element (fund), inclusive of out -of- pocket expenses, net of a 15% discount in recognition of 1) cost savings in meetings and mobilization by including all funds in the project, and 2) our long relationship with the City and our desire be a partner in facilitating the City's use of this state of the art interactive decision support technology and process. A proposed Fee Summary by Fund is presented below: Fee Summary by Fund: City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS Fee Summary by Fund BURTON & ASSOCIATES SUMMARY BY WORK ELEMENT WORK ELEMENT 1: GENERAL FUND FINANCIAL SUSTAINABILITY ANALYSIS Fee Inclusive of Expenses $37,270 Fee Discount % 15% Discount Amount 35,591 Discounted Fee $31,679 ADMINISTRATIVE SERVICES FUND FINANCIAL SUSTAINABIUTY $10,083 15% $1,512 $8,571 WORK ELEMENT 2: ANALYSIS WORK ELEMENT 3 GARAGE FUND FINANCIAL SUSTAINABILITY ANALYSIS $10,083 15% - $1,512 $8,571 WORK ELEMENT 4: GENERAL SERVICES FUND FINANCIAL SUSTAINABILITY ANALYSIS $10,083 15% 41,512 $8,571 CENTRAL INSURANCE FUND FINANCIAL SUSTAINABIUTY $11,352 15% 41,703 $9,649 WORK ELEMENT 5: ANALYSIS INTEGRATION WITH CURRENT UTILITY MODELS (WATER & -- Included in General Fund Set Up - -- WORK ELEMENT 6: SEWER, STORMWATER, SANITATION) TOTAL ALL FUNDS $78,871 15% - $11,830 $67,041 It is our practice to invoice monthly based upon the percentage of each task of each work element completed. To the extent that additional presentations, meetings, analysis, or any other services are requested by the City that are beyond the scope identified in the above referenced Schedule, they will be completed based upon the necessary time and the hourly rates identified within the Schedule. Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 320950 Phone (904) 247 -0787 E -mail: mburton@burtonandossociates.com Page 4 Schedule We can begin work on this assignment immediately upon receipt of a Notice -to- Proceed. The preliminary results of sub -work elements A for each fund — Diagnostic Evaluation and Development of a Ten Year Sustainable Financial Plan, can be presented to City staff and Management within approximately 60 days and final results for sub -work elements A of each major work element can then be completed within the next 30 days for a total of 90 days. Sub -work elements B of each major work element — Presentation to City Management and Council and Preparation of a Final Report, can be completed within 30 days of completion of sub- work elements A. Therefore, the entire project can be completed within approximately 120 days of receipt of a notice to proceed. Conclusion We value the City as one of our longest term clients and would welcome the opportunity to work together in achieving the extraordinary vision that this process affords. If you have any questions or would like to discuss this proposal, please do not hesitate to call me or Erick van Malssen at (904) 247- 0787. We look forward to the opportunity to work together in providing the City with the extraordinary vision that this process provides. Very truly yours, Michael E. Burton President Enclosures Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 32095. Phone (904) 247 -0787 E -mail; mburton @burtonandassociates.com Page 5 .g,Aes Appendix General Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON a ASSOCIATES PROJECT TASKS Hourly rate- ESTIMATED MAN-HOURS Total Protect Project Principal Project Director Protect Consultant/ Analyst $21s Sim $125 WORK ELEMENT 1: GENERAL FUND FINANCIAL SUSTAINABILITY ANALYSIS Work Element - 1A: Diagnostic Evaluation and Development of a Sustainable Ten Year Financial Plan TASK 1 initiate the Project 1 1 1 3 1.1 Conduct Project Kick -off meeting via conference call. 1.2 Obtain and review property, customer, usage and financial and operating data need for the analysis of all funds. 1 1. 1 3 TASK 1 Customize FAMS -XLC Model for the City's General Fund 0 1 1 2 2.1 Define specific requirements and refinements of the General Fund (GF) Model functionality and data required. b. Prepare data requirements Ilst to include financial and other data to be provided by the City and property data, from the County Property Appraiser's Office. c. Review Information /data provided and request clarification /additional data as required. 0 1 3 4 d. Conduct conference with City staff to discuss issues with data, timeline, reaffirmation of the system requirements, 1 1 1 3 2.2 Make adjustments to G F Model to address specific General Fund user requirements, fund linkages and data and as determined in the prior task. 3 4 8 15 2.3 Make adjustments to GF Model to address specific CRA user requirements and data as determined in the prior task. 1 3 6 10 TASK 3 Populate the model and perform analysis. lncludina evaluation of cost reduction and revenue diversification scenarios. 6 17 39 62 3.1 Input financial, property, and other data into Burton & Associates' proprietary FAMS XL® model for the General Fund model, protect year end results for the current year and run the model and produce preliminary output for Identified scenarios, including a ten year financial management program that will include the following: o Property data base by parcel - Complete data base of all parcels in the City with relevant information such as taxable value, exemptions, current tax, etc., Including adjustment factors for each parcel, or parcels by property classes, for future years. - Above referenced property data base integrated so that changes in assumptions for future years are linked to the calculation algorithms of the model. o Operations and Maintenance (0 &M) Budget and projections - O &M budget categories, initial year budget and projections of budget in future years. - Inflation factors for each O &M budget cost category. o Capital Improvements Program (10 year) - Project listing by year (including alternative Master Plan /CIP scenarios) - Identification of funding source by protect by year for each scenario o Borrowing Program (for each Master Plan /CIP scenario) - Borrowing required (by source) to fund CIP projects not funded by other sources to include but not necessarily be limited to revenue bonds and State or other programs. - Timing of bond Issues) / loan(s) to provide required borrowed funds - Annual debt service of bond issues) /loan(s) Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 32095• Phone (904) 247 -0787 E-mail: mburton @burtonandassociates.com Page 6 Appendix General Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON a ASSOCIATES PROJECT TASKS Hourly ratea ESTIMATED MAN -HOURS Total Project Project Principal Protect Director Project Consultant/ Analyst 5215 5190 5125 o Revenue Sufficiency Analysis - Annual revenue projections for all GF revenue sources, Including variable annual adjustment factors for each revenue source. - Annual plan to provide sufficient revenues for each scenario evaluated through adjustments to O &M costs, capital costs, mlllage rates, etc. o Sources and Uses of Funds Analysis o Funds Analysis - Spend down limits (minimum reserve requirements) by fund. - Beginning and ending funds balances by fund by year. o Analysis of prior and current year performance versus performance criteria. 3.2 Program Interfund transfers to /from the Water & Sewer and Electric Utility Funds. 0 1 3 4 3.3 Identify, quantify, and set -up potential revenue diversification alternatives within the General Fund model. 0 1 3 4 3.4 Review preliminary output with consulting team, make adjustments, and re -run models, 1 2 3 6 3.5 Conduct an interactive review session with City staff to review the preliminary results of the ten year projection of revenue sufficiency of the General Fund and the CRA. 3 3 3 9 3.6 Make adjustments based upon input from City staff and prepare preliminary schedules of initial results. 1 4 11 16 3.7 Conduct a second interactive review session with City staff to review the preliminary results of the ten year projection of revenue sufficiency of the General Fund and the CRA, 3 3 3 9 3.8 Make adjustments based upon Input from City staff and prepare schedules of adjusted results. 1 4 8 13 TASK4 identify and Evaluate Finandal SustalnabllltyAlternatives 1 1 1 3 4.1 Identify alternatives to ensure financial sustainablllty to Include cost reduction and revenue enhancement /diversification strategies. 4.2 Adjust the Model to include the strategies identified in the prior task. 1 1 3 5 4.4 Conduct an interactive work session with City staff to review the above referenced strategies. 2 2 2 6 4.4 Make adjustments based upon input from City staff in the prior task. 1 1 3 5 4.5 Conduct an Interactive work session with City staff to review the above referenced adjusted strategies. 2 2 2 6 TOTAL ESTIMATED MAN - HOURS- WORK ELEMENT 1A 29 54 105 188 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 1A $6,235 510,260 $13,125 $29,620 ESTIMATED EXPENSES - WORK ELEMENT lA 4.00% $1,185 TOTAL ESTIMATED COST - WORK ELEMENT 1A 530,805 DISCOUNT at 15.00% (54,621) TOTAL DISCOUNTED COST - WORK ELEMENT 1A $26,184 Burton & Associates 200 Business Park Circle, Suite 1018St. Augustine, Florida 320958 Phone (904) 247 -0787 E-mail: mburton @burtonandassociates.com Page 7 Appendix General Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON s Assocu►TEs PROJECT TASKS Hourly rate -> ESTIMATED MAN -HOURS Total Project Project Principal Project Director Project Consultant/ Analyst 5215 5190 5125 Work Element -1B: Present Findings to City Management and Council and Prepare a Final Report 0.7 0.7 2.1 0 - -- - -- 2.8 0.7 - -- 1.4 0.7 2.1 0.7 At Hourly Rates At Hourly Rates 5.6 1.4 At Hourly Rate 0.7 0 2.1 2.8 as Required as Required 11.2 2.8 as Required 2.8 1.4 6.3 3.5 - -- - -- 19.6 4.9 - -- TASK S Present /Jndlnas to CJty Management and Coundl 5.1 Prepare a presentation of the results of the analysis, Including status quo and alternative scenarios Identified during the project. 5.2 Review presentation with City Staff & Management and make adjustments to presentation. 5.3 Present the results of the analysis to City Council In a workshop. 5.4 Make adjustments based upon input and direction from City Council. 5.5 Conduct a second Interactive review session with City Council as required. 5.6 Make adjustments as required based upon the review with City Council In the prior subtask. TASK 6 Document the results In a Report. 6.1 Document the results of the analysis in a Draft Report. 6.2 Make adjustments based upon input from City staff and prepare the Final Report. 6.3 Present the results of the Final Report to the City Council. TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT 1B 7 11.9 19.6 38.5 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 18 ESTIMATED EXPENSES - WORK ELEMENT 1B 4.00% $1,505 $2,261 $2,450 $6,216 $249 TOTAL ESTIMATED COST - WORK ELEMENT 1B $6,465 DISCOUNT & 15,00% ($970) TOTAL DISCOUNTED COST - WORK ELEMENT 1B $5,495 TOTAL WORK ELEMENT 1- GENERAL FUND TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT 1 36 65.9 124.6 226.5 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 1 ESTIMATED EXPENSES - WORK ELEMENT 1 4.00% $7,740 $12,521 $15,575 $35,836 $1,434 TOTAL ESTIMATED COST - WORK ELEMENT 1 $37,270 DISCOUNT & 15.00% ($5,591) TOTAL DISCOUNTED COST - WORK ELEMENT 1 $31,679 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 32095• Phone (904) 247 -0787 E -mail: mburton @burtonandassociates.com Page 8 Appendix Administrative Services Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON a ASSOCIATES PROJECT TASKS Hourlyrate -> ESTIMATED MAN-HOURS Total Project Project Prindpal Project Director Project Consultant/ Molest $215 $190 $125 WORK ELEMENT 2: ADMINISTRATIVE SERVICES FUND FINANCIAL SUSTAINABILITY ANALYSIS Work Element - 2A: Diagnostic Evaluation and Development of a Sustainable Ten Year Financial Plan Task L Develop a Mult1 -vear Mandel Forecast and Flnandal Plan for this Fund. 0 1 2 3 1.1. Determine projected total billable Internal funds and /or external customers /properties by class of service if applicable. 1.2 Obtain, verify and Input financial and billing/internal fund transfer data Into Burton & Associates proprietary FAMS XL CO model, set -up and run the model and produce preliminary output, Including a ten year financial management program that o Capital Improvements Program - Project listing by year - Alternative financing options for capital projects - Optimum funding source by project by year o Borrowing Program - Borrowing required (by source) to fund CIP projects not funded by other sources to Include but not necessarily be limited to revenue bonds and State or other programs. - Timing of bond Issue(s) / loan(s) to provide required borrowed funds - Annual debt service of bond issue(s) /loan(s) o Revenue Sufficiency Analysis - Annual revenue projections - Annual operations and maintenance expense projections - All other annual revenue requirements such as R &R, minor capital, transfers to other funds, current debt service /loan payments, replenishment of reserves, etc. - Alternative plans of annual percentage rate adjustments to the water and wastewater rates to provide sufficient revenues for each service. o Sources and Uses of Funds Analysis o Funds Analysis - Spend down limits (minimum reserve requirements) by fund - Beginning and ending funds balances by fund by year 1 2 13 16 1.3 Set up to assess the impact upon other funds. 1 2 2 5 1.4 Make adjustments to FAMS -XL© to model up to two scenarios. 0 1 2 3 1.5 Review results with consulting team, make required adjustments and create alternatives scenarios. 1 1 1 3 1.6 Meet with City staff In an Interactive work session to review preliminary results. 2 2 2 6 1.7 Make adjustments as required based upon Input from City staff in Task 2.4. 0 1 2 3 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 320950 Phone (904) 247 -0787 E-mail: mburton @burtonandassociates.com Page 9 Appendix Administrative Services Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN a COST ESTIMATE BURTON a ASSOmATES PROJECT TASKS Hourlyrate -> ESTIMATED MAN -HOURS Total Project Project Principal Project Director Project Consultant/ An.Mt $215 5190 5125 1.8 Meet with City staff In a second interactive work session to review adjusted results and determine final plan of annual rate revenue adjustments and the revenue requirements for the test year for rate making. 1.9 Conduct and Compile a Comparative Rate Survey 1 0 1 1 1 1 3 2 TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT 2A 6 12 26 44 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 2A ESTIMATED EXPENSES - WORK ELEMENT 2A 4.00% $1,290 $2,280 $3,250 56,820 $273 TOTAL ESTIMATED COST - WORK ELEMENT 2A $7,093 DISCOUNT V 15.00% (51,064) TOTAL DISCOUNTED COST - WORK ELEMENT 2A $6,029 Work Element - 2B: Present Findings to City Management and Council and Prepare a Final Report 1 1 1 0 --- - -- 1 0 -- 1 1 1 1 At Hourly Rates At Hourly Rates 1 1 At Hourly Rate 1 0 1 1 as Required as Required 3 1 as Required 3 2 3 2 - -- - -- 5 2 - -- TASK 2 Present 'Inclines to City Monaaement and Council 2.1 Prepare a presentation of the results of the analysis, including status quo and alternative scenarios identified during the project. 2.2 Review presentation with City Staff & Management and make adjustments to presentation. 2.3 Present the results of the analysis to City Council Ina workshop. 2.4 Make adjustments based upon input and direction from City Council. 2.5 Conduct a second Interactive review session with City Council as required. 2.6 Make adjustments as required based upon the review with City Council in the prior subtask. TASK 3 Document the results In a Report. 3.1 Document the results of the analysis In a Draft Report. 3.2 Make adjustments based upon Input from City staff and prepare the Final Report. 3.3 Present the results of the Final Report to the City Council. TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT 2B 4 6 7 17 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 2B ESTIMATED EXPENSES - WORK ELEMENT 28 4.00% $860 $1,140 $875 52,875 5115 TOTAL ESTIMATED COST - WORK ELEMENT 2B $2,990 DISCOUNT 8' 15.00% ($449) TOTAL DISCOUNTED COST - WORK ELEMENT 2B $2,542 TOTAL WORK ELEMENT 2 - ADMINISTRATIVE SERVICES FUND TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT 2 10 18 33 61 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT2 ESTIMATED EXPENSES - WORK ELEMENT 2 4.00% $2,150 $3,420 $4,125 59,695 5388 TOTAL ESTIMATED COST - WORK ELEMENT 2 510,083 DISCOUNT ® 15.00% ($1,512) TOTAL DISCOUNTED COST - WORK ELEMENT 2 $8,571 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 320950 Phone (904) 247 -0787 E -mail: mburton @burtonandassoclates.com Page 10 Appendix Garaee Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON & ASSOCIATES PROJECT TASKS Hourly rate -> ESTIMATED MAN -HOURS Total Project Project Principal Protect Director Pro ject Consultant/ Analyst S215 51so 5125 WORK ELEMENT 3 GARAGE FUND FINANCIAL SUSTAINABILITY ANALYSIS Work Element - 3A: Diagnostic Evaluation and Development of a Sustainable Ten Year Financial Plan Task 3 Develop a Multi -near Ffnandal Forecast and Financial Plan for this Utility Fund. 0 1 2 3 1.1 Determine projected total billable internal funds and /or external customers/properties by class of service if applicable. 1.2 Obtain, verify and Input financial and billing/Internal fund transfer data Into Burton & Associates proprietary FAMS XL ES model, set -up and run the model and produce preliminary output, Including a ten year financial management program that o - Capltallmprovements Program - Project listing by year - Alternative financing options for capital projects - Optimum funding source by protect by year o Borrowing Program - Borrowing required (by source) to fund CIP projects not funded by other sources to Include but not necessarily be limited to revenue bonds and State or other programs. - Timing of bond issue(s)/loan(s) to provide required borrowed funds - Annual debt service of bond issue(s) /loan(s) o Revenue Sufficiency Analysis - Annual revenue projections • Annual operations and maintenance expense projections • All other annual revenue requirements such as R &R, minor capital, transfers to other funds, current debt service /loan payments, replenishment of reserves, etc. • Alternative plans of annual percentage rate adjustments to the water and wastewater rates to provide sufficient revenues for each service. o Sources and Uses of Funds Analysis o Funds Analysis - Spend down limits (minimum reserve requirements) by fund - Beginning and ending funds balances by fund by year 1 2 13 16 1.3 Set up to assess the impact upon other funds and evaluate potential outsourcing. 1 2 2 5 1.4 Make adjustments to FAMS -XL© to model up to two scenarios. 0 1 2 3 1.5 Review results with consulting team, make required adjustments and create alternatives scenarios. 1 1 1 3 1.6 Meet with City staff In an Interactive work session to review preliminary results. 2 2 2 6 1.7 Make adjustments as required based upon input from City staff in Task 2.4. 0 1 2 3 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 320958 Phone (904) 247 -0787 E -mail: mburton @burtonandassociates.com Page 11 Appendix Garaee Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PRAITCT WORK PLAN & COST ESI7MATE BURTON i A:sOCmATIEs PROJECT TASKS Hourly rote -) ESTIMATED MAN -HOURS Total Project Project Principal Project Director Project Consultant/ Analyst $215 $190 $125 1.8 Meet with City staff In a second Interactive work session to review adjusted results and determine final plan of annual rate revenue adjustments and the revenue requirements for the test year for rate making. 1.9 Conduct and Compile a Comparative Rate Survey 1 0 1. 1 1 1 3 2 TOTAL ESTIMATED MAN -HOURS • WORK ELEMENT 3A 6 12 26 44 TOTAL ESTIMATED CONSULTING FEE • WORK ELEMENT 3A ESTIMATED EXPENSES - WORK ELEMENT 3A 4.00% 51,290 52,280 $3,250 56,820 5273 TOTAL ESTIMATED COST - WORK ELEMENT 3A 57,093 DISCOUNT el 15.00% (51,064) TOTAL DISCOUNTED COST - WORK ELEMENT 3A $6,029 Work Element - 3B: Present Findings to City Management and Council and Prepare a Final Report 1 1 1 0 - -- - -- 1 0 - -- 1 1 1 1 At Hourly Rates At Hourly Rates 1 1 At Hourly Rate 1 0 1 1 as Required as Required 3 1 as Required 3 2 3 2 -- -- 5 2 - -- TASK 2 Present Andinas to Clty Management and Coundl 2.1 Prepare a presentation of the results of the analysis, including status quo and alternative scenarios identified during the project. 2.2 Review presentation with Clty Staff & Management and make adjustments to presentation. 2.3 Present the results of the analysis to City Council In a workshop. 2.4 Make adjustments based upon Input and direction from Clty Council. 2.5 Conduct a second Interactive review session with City Council as required. 2.6 Make adjustments as required based upon the review with City Council in the prior subtask. TASK 3 Document the results In a Resort. 3.1 Document the results of the analysis in a Draft Report, 3.2 Make adjustments based upon input from City staff and prepare the Final Report. 3.3 Present the results of the Final Report to the City Council. TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT 3B 4 6 7 17 TOTAL ESTIMATED CONSULTING FEE • WORK ELEMENT 3B ESTIMATED EXPENSES - WORK ELEMENT 3B 4.0055 $860 51,140 $875 52,875 5115 TOTAL ESTIMATED COST - WORK ELEMENT 3B 52,990 DISCOUNT 88 15.00% ' (5449) TOTAL DISCOUNTED COST - WORK ELEMENT 38 $2,542 TOTAL WORK ELEMENT 3 - GARAGE FUND TOTAL ESTIMATED MAN- HOURS - WORK ELEMENT 3 10 18 33 61 TOTAL ESTIMATED CONSULTING FEE • WORK ELEMENT 3 ESTIMATED EXPENSES - WORK ELEMENT 3 4.0055 52,150 53,420 $4,125 59,695 5388 TOTAL ESTIMATED COST - WORK ELEMENT 3 510,083 DISCOUNT @s 15.00% (51,512) 58,571 TOTAL DISCOUNTED COST - WORK ELEMENT 3 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 320958 Phone (904) 247 -0787 E -mail: mburton@burtonandassociates.com Page 12 ter Appendix General Services Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON a ASSOcdATEs PROJECT TASKS Hourly rote -) ESTIMATED MAN•HOURS Total Project Protect Principal Project Director Project Consultont/ Analyst 5215 5190 5125 WORK ELEMENT 4: GENERAL SERVICES FUND FINANCIAL SUSTAINABILITY ANALYSIS Work Element - 4A: Dlaanostic Evaluation and Development of a Sustainable Ten Year Financial Plan Task 1 Develop a Mu1N -veal Flnandal Forecast and Flnandal Plan for thls Fund. 0 1 2 3 1.1. Determine projected total billable internal funds and /or external customers /properties by class of service if applicable. 1.2 Obtain, verify and input financial and billing/internal fund transfer data into Burton & Associates proprietary TAMS XL C model, set -up and run the model and produce preliminary output, Including a ten year financial management program that o Capital Improvements Program - Project listing by year - Alternative financing options for capital projects - Optimum funding source by project by year o Borrowing Program - Borrowing required (by source) to fund CIP projects not funded by other sources to Include but not necessarily be limited to revenue bonds and State or other programs. - Timing of bond issue(s) /loan(s) to provide required borrowed funds - Annual debt service of bond issues) /loan(s) o Revenue Sufficiency Analysis - Annual revenue projections - Annual operations and maintenance expense protections - All other annual revenue requirements such as R &R, minor capital, transfers to other funds, current debt service /loan payments, replenishment of reserves, etc. - Alternative plans of annual percentage rate adjustments to the water and wastewater rates to provide sufficient revenues for each service. o Sources and Uses of Funds Analysis o Funds Analysis - Spend down limits (minimum reserve requirements) by fund - Beginning and ending funds balances by fund by year 1 2 13 16 1.3 Set up to assess the impact upon other funds, square feet of building space and alternative ownership of buildings. 1 2 2 5 1.4 Make adjustments to FAMS -XL© to model up to two scenarios. 0 1 2 3 1.5 Review results with consulting team, make required adjustments and create alternatives scenarios. 1 1 1 3 1.6 Meet with City staff In an Interactive work session to review preliminary results. 2 2 2 6 1.7 Make adjustments as required based upon Input from City staff In Task 2.4. 0 1 2 3 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 32095• Phone (904) 247 -0787 E -mail: mburton @burtonandassociates.com Page 13 Appendix General Services Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON • ASSOCIATES PROJECT TASKS Hourly rate-> ESTIMATED MAN -HOURS Total Project Project PHndpel Project Director Project Consultant/ Analyst 5215 5190 5125 1.8 Meet with City staff in a second Interactive work session to review adjusted results and determine final plan of annual rate revenue adjustments and the revenue requirements for the test year for rate making. 1,9 Conduct and Compile a Comparative Rate Survey 1 0 1 1 1 1 3 2 TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT 4A 6 12 26 44 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 4A ESTIMATED EXPENSES - WORK ELEMENT 4A 4.00% 51,290 52,280 $3,250 56,820 5273 TOTAL ESTIMATED COST - WORK ELEMENT 4A 57,093 DISCOUNT ft 15.00% r (51,064) TOTAL DISCOUNTED COST - WORK ELEMENT 4A 56,029 Work Element - 4B: Present Findings to City Management and Council and Prepare a Final Report 1 1 1 0 - -- - -- 1 0 -- 1 1 1 1 At Hourly Rates At Hourly Rates 1 1 At Hourly Rate 1 0 1 1 as Required as Required 3 1 as Required 3 2 3 2 - -- - -- 5 2 -- TASK PresentAndlnas to City Management and Coundl 2.1 Prepare a presentation of the results of the analysis, including status quo and alternative scenarios identified during the project. 2.2 Review presentation with City Staff & Management and make adjustments to presentation. 2.3 Present the results of the analysis to City Council In a workshop. 2.4 Make adjustments based upon input and direction from City Council. 2.5 Conduct a second Interactive review session with City Council as required. 2.6 Make adjustments as required based upon the review with City Council in the prior subtask. TASK 3 Document the results Inc Report. 3.1 Document the results of the analysis in a Draft Report. 3.2 Make adjustments based upon input from City staff and prepare the Final Report. 3.3 Present the results of the Final Report to the City Council. TOTAL ESTIMATED MAN - HOURS • WORK ELEMENT 4B 4 6 7 17 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 4B ESTIMATED EXPENSES - WORK ELEMENT 48 4.00% $860 $1,140 5875 52,875 5115 TOTAL ESTIMATED COST - WORK ELEMENT 4B $2,990 DISCOUNT ts 15.00% (5449) TOTAL DISCOUNTED COST- WORK ELEMENT 4B 52,542 TOTAL WORK ELEMENT 4 - GENERAL SERVICES FUND FINANCIAL SUSTAINABILITY ANALYSIS TOTAL ESTIMATED MAN -HOURS • WORK ELEMENT 4 10 18 33 61 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 4 ESTIMATED EXPENSES- WORK ELEMENT 4 4.00% 52,150 $3,420 54,125 59,695 5388 TOTAL ESTIMATED COST - WORK ELEMENT 4 510,083 DISCOUNT 92 15.0094 (51,512) 58,571 TOTAL DISCOUNTED COST - WORK ELEMENT 2 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 320950 Phone (904) 247 -0787 E -mail: mburtontaburtonandassoclates.com Page 14 ter Appendix Central Insurance Fund City of Clearwater FY 2016 I NTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON a AssoaATEs PROJECT TASKS Hourly rate -' ESTIMATED MAN -HOURS Tote! Project Project Prie d*ei Project Director Project ConsnDent/ Melyst $215 $190 $125 WORK ELEMENT S: CENTRAL INSURANCE FUND FINANCIAL SUSTAINABILITY ANALYSIS Work Element - SA: Diagnostic Evaluation and Develooment of a Sustainable Ten Year Financial Plan Task I Develop a Multi -year Financial Forecast and Financial Plan for this Fund Moo Marinas and one Aviation facility). 0 1 2 3 1.1 Determine projected total billable internal funds and /or external customers /properties by class of service if applicable. 1.2 Obtain, verify and Input financial and billing/Internal fund transfer data Into Burton & Associates proprietary FAMS XL model, set -up and run the model and produce preliminary output, including a ten year financial management program that o Capital Improvements Program - Project listing by year - Alternative financing options for capital projects - Optimum funding source by project by year o Borrowing Program - Borrowing required (by source) to fund CIP projects not funded by other sources to Include but not necessarily be limited to revenue bonds and State or other programs. - Timing of bond Issues) /loan(s) to provide required borrowed funds - Annual debt service of bond Issues) /loan(s) o Revenue Sufficiency Analysis - Annual revenue projections - Annual operations and maintenance expense projections - All other annual revenue requirements such as R &R, minor capital, transfers to other funds, current debt service /loan payments, replenishment of reserves, etc. - Alternative plans of annual percentage rate adjustments to the water and wastewater rates to provide sufficient revenues for each service. o Sources and Uses of Funds Analysis o Funds Analysis - Spend down limits (minimum reserve requirements) by fund - Beginning and ending funds balances by fund by year 1 2 13 16 1.3 Set up to assess the impact upon other funds and evaluate 1) use of reserves (currently available to Council and used as a rainy day fund in addition to OF reserves, 2) use for Interfund loans, and 3) smoothing of health Insurance costs. 2 4 7 13 1.4 Make adjustments to FAMS -XL® to model up to two scenarios. 0 1 2 3 1.5 Review results with consulting team, make required adjustments and create alternatives scenarios. 1 1 1 3 1.6 Meet with City staff In an interactive work session to review preliminary results. 2 2 2 6 1.7 Make adjustments as required based upon input from City staff in Task 2.4. 0 1 2 3 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 32095. Phone (904) 247 -0787 E -mail: mburton @burtonandassoclates.com Page 15 Appendix Central Insurance Fund City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BUR ON & ASSOCIATES PROJECT TASKS Hourly rote-a ESTIMATED MAN -HOURS Total Project Project Principal Project Director Project Consultant/ Analyst $215 5190 5125 1.8 Meet with City staff in a second interactive work session to review adjusted results and determine final plan of annual rate revenue adjustments and the revenue requirements for the test year for rate making. 1.9 Conduct and Compile a Comparative Rate Survey 1 0 1 1 1 1 3 2 TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT SA 7 14 31 52 TOTAL ESTIMATED CONSULTING FEE •WORK ELEMENT SA ESTIMATED EXPENSES - WORK ELEMENT 5A 4.00% $1,505 $2,660 $3,675 $8,040 $322 TOTAL ESTIMATED COST - WORK ELEMENT 5A $8,362 DISCOUNT @ 15.00% ($1,254) TOTAL DISCOUNTED COST - WORK ELEMENT 5A $7,108 Work Element - 28: Present Findings to City Management and Council and Prepare a Final Report 1 1. 1 0 - -- - -- 1. 0 - -- 1 1 1 1 At Hourly Ra At Hourly Rates 1 1 At Hourly Rate 1 0 1 1 es as Required as Required 3 1 as Required 3 2 3 2 -- -- 5 2 - -- TASK 2 Present flndinas to City Management and Council 2.1 Prepare a presentation of the results of the analysis, including status quo and alternative scenarios identified during the project. 2.2 Review presentation with City Staff & Management and make adjustments to presentation. 2.3 Present the results of the analysis to City Council in a workshop. 2.4 Make adjustments based upon Input and direction from City Council. 2.5 Conduct a second Interactive review session with City Council as required. 2.6 Make adjustments as required based upon the review with City Council in the prior subtask. TASK3 Document the results In a Report. 3.1 Document the results of the analysis Ina Draft Report. 3.2 Make adjustments based upon input from City staff and prepare the Final Report. 3.3 Present the results of the Final Report to the City Council. TOTAL ESTIMATED MAN -HOURS • WORK ELEMENT 5B 4 6 7 17 TOTAL ESTIMATED CONSULTING FEE •WORK ELEMENT 5B ESTIMATED EXPENSES - WORK ELEMENT SB 4.00% $860 $1,140 $875 $2,875 $115 TOTAL ESTIMATED COST - WORK ELEMENT SB $2,990 DISCOUNT@ 15.00% r ($449) TOTAL DISCOUNTED COST - WORK ELEMENT 5B $2,542 TOTAL WORK ELEMENT 5 - CENTRAL INSURANCE FUND FINANCIAL SUSTAINABILITY ANALYSIS TOTAL ESTIMATED MAN- HOURS -WORK ELEMENT 11 20 38 69 TOTAL ESTIMATED CONSULTING FEE- WORK ELEMENT5 ESTIMATED EXPENSES - WORK ELEMENT 5 4.00% $2,365 $3,800 $4,750 $10,915 $437 TOTAL ESTIMATED COST - WORK ELEMENT 5 $11,352 DISCOUNT @ 15.00% ($1,703) TOTAL DISCOUNTED COST - WORK ELEMENT 5 $9,649 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 320950 Phone (904) 247 -0787 E -mail: mburton @burtonandassoclates.com Page 16 Appendix Current Utility Funds City of Clearwater FY 2016 INTEGRATED FINANCIAL SUSTAINABILITY ANALYSIS PROJECT WORK PLAN & COST ESTIMATE BURTON & ASSOCIATES PROJECT TASKS Hourly rate -> ESTIMATED MAN -HOURS Total Project Project Principal Project Director Project Consultant/ Analyst $215 $190 $125 WORK ELEMENT 6: INTEGRATION WITH CURRENT UTILITY MODELS (WATER & SEWER. STORMWATER, SANITATION) - -- Included - -- Included - -- Included - -- Included - -- Included in General In General in General In General in General Fund Set Fund Set Fund Set Fund Set Fund Set -Up - -- -Up - -- -Up - -- -Up - -- -Up - -- Task 1 Intearate the current Water & Sewer, Sanitation and Stormwater models 1.1 Make adjustments to the current models for Integration with the other funds Included In the cope of the modeling analysts. 1.2 Test the Integration from fund to fund. 1.3 Review results with consulting team, make required adjustments and create alternatives scenarios. 1.4 Meet with City staff In an Interactive work session to review preliminary results. 1.5 Make adjustments as required based upon input from City staff in the prior sub -task. TOTAL ESTIMATED MAN -HOURS - WORK ELEMENT 6 0 0 0 0 TOTAL ESTIMATED CONSULTING FEE - WORK ELEMENT 6 ESTIMATED EXPENSES - WORK ELEMENT 6 4.00% $0 $0 $0 $0 $0 TOTAL ESTIMATED COST - WORK ELEMENT 6 $0 DISCOUNT @ 15.00% $0 TOTAL DISCOUNTED COST - WORK ELEMENT 6 $0 Burton & Associates 200 Business Park Circle, Suite 101•St. Augustine, Florida 32095. Phone (904) 247 -0787 E -mall: mburton @burtonandassociates.com Page 17