2022 GovInvest, Inc. Amendment 1 - Actuarial Consulting & Technology ServicesAMENDMENT NO. 1
TO PROFESSIONAL SERVICES AGREEMENT
WITH GOVINVEST INC.
This Amendment No. 1 (“Amendment No. 1”) to Professional Services
Agreement ("Agreement”) is made and entered into as of the 29th day of June
2022, ("Effective Date") by and between the CITY OF LA QUINTA ("City"), a
California municipal corporation and GovInvest Inc. (“Consultant”).
RECITALS
WHEREAS, on or about December 1 2020, the City and GovInvest Inc.
entered into an Agreement to provide services related to actuarial consulting
and technology services, for a total not to exceed amount of $106,000. The
term of the Agreement expires on December 31st, 2025 (“Initial Term”); and
WHEREAS, City and Contracting Party have mutually agreed to amend
Section 1.1 - Scope of Services to include the addition of the labor costing
module and financial forecasting module; and
WHEREAS, City and Contracting Party mutually agree to amend Section
2.1 - Contract Sum by an additional amount of $17,000 to include
compensation for the labor costing module and financial forecasting module,
for a total not to exceed amount of $123,000.
NOW THEREFORE, in consideration of the mutual covenant herein
contained, the parties agree as follows:
AMENDMENT
In consideration of the foregoing Recitals and the covenants and
promises hereinafter contained, and for good and valuable consideration, the
sufficiency and receipt of which are hereby acknowledged, the parties hereto
agree as follows:
1. Section 2.1 is amended to read as follows:
Section 2.1 Contract Sum. For the services rendered pursuant to this
Agreement, Consultant shall be compensated in accordance with Exhibit “B”
(the “Schedule of Compensation”) in a total not to exceed amount of
One Hundred Six Thousand Dollars ($106,000), and in an additional
amount not to exceed Seventeen Thousand Dollars ($17,000) during
the Initial Term (contingent upon approval from the La Quinta
City Council), for a contingent total not to exceed combined amount
of One Hundred Twenty-Three Thousand Dollars ($123,000)
(the “Contract Sum”), except as provided in Section 1.6.
Exhibit A
Scope of Services
Annual Fee Includes:
•Unlimited Logins: Credentials to access induvial cloud-based portals.
•Portal Setup: Development of dedicated cloud-based portals.
•Features & Reports: All features and reporting functions available within the cloud -based portal.
•Setup, Support & Training: Dedicated support staff to assist in initial setup and unlimited ongoing
training of the product and features. Refer to Implementation Steps below under User Training
•Support Resources: Access to labor costing experts, training tools, webinars and conferences hosted
by Company.
•Expert Sessions: Scheduled training hosted by in-house finance, negotiations & budget experts, as
well as peer government users with extensive experience using the product.
•Internal Presentation Support: In-house finance, negotiations and budget experts to support in
developing and reviewing presentations based on product usage.
•Dedicated Customer Success Manager: Specialist assigned to Client to facilitate
communication with all available resources.
Implementation Steps
•Introductory 1-on-1 meeting between Customer’s project sponsor and GovInvest onboarding lead
•Optional kick-off meeting with GovInvest onboarding lead and all customer
stakeholders and others that will be involved in the onboarding process
•User training: Digital one-on-one or group sessions focused on setting up projects
and using software to support Customer’s objectives.
•Project configuration: support the customer in building a cost project for their first bargaining group
•Census building: Support the customer building their census file through
development of costing elements built into software and within the validation
process.
•Validation: assist the customer in validating their results
•Support: answer customer questions as they come up about modelling or validation
Onboarding and implementation of the services included in this agreement, including data
integration, data validation, training, and launch shall be completed by Customer with
GovInvest onboarding team support. Implementation moves at pace of customer and their
ability to compile appropriate data, understand MOU’s and GovInvest will support in
software build out and representation of data.
•Implementation Fee Includes •Annual Fee Includes
•Initial Logins •Additional Logins
•Initial Portal Setup •Ongoing Maintenance
•Current Features & Reports •Future Features & Reports
•Initial Setup & Training •Future Support & Training
•Current Support Resources •Future Support Services
•Expert Training Session •Annual Expert Sessions
•Internal Presentation Review (By Appointment) •Ongoing Presentation Support (By Appointment)
•Dedicated Customer Success Manager •Dedicated Customer Success Manager
•Cloud Based •Downloads
•Total Cost (Annual) •Employee Results
•Total Cost (Cumulative) •Employees by Funding Source
•Payroll (Annual) •Cost by Funding Source
•Difference from the Baseline (Annual) •Accounts by Cost
•Difference from Baseline (Cumulative) •Accounts by Cost Accounting ID
•Cost Breakdown (Cumulative) •Accounts by Employee Accounting ID
Cost Detail (Annual) •Accounts by Funding Source
Cost Category Breakdown (Cumulative) •Employees by Account
Exhibit B
Schedule of Compensation
With the exception of compensation for Additional Services provided for
in Section 2.3 of this Agreement, the maximum total compensation to be paid
to Consultant under this Agreement is One Hundred Six Thousand
Dollars ($106,000), and an additional amount not to exceed Seventeen
Thousand Dollars ($17,000) during the Initial Term (contingent upon
approval from the La Quinta City Council), for a contingent total not to
exceed combined amount of One Hundred Twenty-Three Thousand Dollars
($123,000) for the Initial Term.
City of La Quinta
CITY COUNCIL MEETING: July 19, 2022
STAFF REPORT
AGENDA TITLE: APPROVE AMENDMENT NO. 1 TO AGREEMENT FOR
CONTRACT SERVICES WITH GOVINVEST INC. TO ADD MODULES FOR LABOR
COSTING AND FINANCIAL FORECASTING
RECOMMENDATION
Approve Amendment No. 1 to Agreement for Contracting Services with
GovInvest Inc. to add modules for labor costing and financial forecasting, in
the amount of $17,000; and authorize the City Manager to execute the
Amendment.
EXECUTIVE SUMMARY
The City currently utilizes GovInvest Inc. for actuarial consulting and
technology services that includes required annual pension and
healthcare actuarial services in order to comply with Governmental
Accounting Standards Board (GASB) Statements 68 and 75, which
establish standards for the measurement, display, and recognition of
Pension and Other Post-Employment Benefits (OPEB) expenses and
liabilities.
In November 2020, Council awarded the actuarial consulting and
technology services contract to GovInvest Inc, which expires December
31, 2025.
Amendment No. 1 (Amendment 1), included as Attachment 1, proposes
the addition of modules for labor costing and financial forecasting.
FISCAL IMPACT
The annual cost for the additional modules will be $17,000 for the initial term
through December 31, 2025. Funds for these additional modules are available
in the Finance Department account 101-1006-60104, Consultants;
implementation fees are waived with upfront payment of the contract amount.
CONSENT CALENDAR ITEM NO. 16
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BACKGROUND/ANALYSIS
In November 2020, City Council awarded the actuarial consulting and
technology services contract to GovInvest Inc, for a total not to exceed
amount of $106,000, for an initial term of five years, expiring December 31,
2025, with an option to extend for two additional years.
Amendment 1 proposes to add modules for labor costing and financial
forecasting by an additional amount of $17,000, increasing the contract for a
total not to exceed amount of $123,000, for the initial term through December
31, 2025; this pricing includes six months of complimentary service from July
– December 2022.
The addition of these modules will assist the City by elevating the process of
planning, forecasting and budgeting by eliminating manual spreadsheets,
automating the forecasting and scenario planning process, increasing
transparency and trust across departments with visual graphs, and projecting
labor costs with instant analysis and measuring changes in workforce.
ALTERNATIVES
Staff does not recommend other alternatives.
Prepared by: Claudia Martinez, Finance Director
Approved by: Jon McMillen, City Manager
Attachment: 1. Amendment No. 1 to Agreement for Contract Services
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