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CITY OF REDWOOD CITY <br /> <br />Comprehensive Dollar Cost Bid <br /> <br /> Rates for Additional Professional Services: <br /> <br /> We are hesitant to simply state hourly rates, as often times the needs of the client <br /> and the specific tasks directly impact the billing rates for our services. We <br /> maintain a policy of flexible billing rates and try to work within chent cost-control <br /> parameters. However, to provide the City with additional information, the <br /> following are our current published billing rates for projects other than those <br /> listed in the RFP: <br /> <br /> Partner $ 235.00 <br /> Manager $ 150.00 <br /> Senior $ 125.00 <br /> Professional Staff $ 100.00 <br /> Administrative Staff $ 70.00 <br /> <br /> It is also Finn policy, during the term of the audit contract, to match the lowest <br /> qualified bid on additional financial related services required by the City. <br /> <br /> Manner of Payment:. <br /> <br /> Each Engagement Team member maintains detailed time sheets describing work <br /> performed, date of ~vork, and mount of time spent on each task for the <br /> Engagement. The Finn will sumrnarize the amount of time spent during the <br /> month and bill the City based on the hourly rates published in the proposal up to <br /> a maximum of 90%. The remaining 10% of the proposal amount will not be due <br /> until all final reports are delivered and accepted by the City. Based on our <br /> previous experience, the City can anticipate three billings as follows: <br /> <br /> For interim work 45 % <br /> For year end work 45 <br /> At presentation and acceptance <br /> of final reports 10 <br /> Total 100 % <br /> <br /> Payment by the City is due 30 days after receipt of each billing. A late fee of 1.5 % <br /> of the billed but unpaid balance will be added for each 30 day period the bill <br /> remains unpaid. <br /> <br /> <br />