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6.1.A. - Page 42 <br />—..y of Redwood City <br />Proposal <br />Manner of Payment: <br />Each Engagement Team member maintains detailed time sheets describing work performed, date <br />of work, and amount of time spent on each task for the Engagement. The Firm will summarize the <br />amount of time spent during the month and bill the City based on the hourly rates published in the <br />proposal up to 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 previous experience, <br />the City can anticipate three billings as follows: <br />For interim work 45% <br />For year and work 45% <br />At presentation and acceptance of final reports 10% <br />Total 100% <br />Payment by the City is due 30 days after receipt of each billing. <br />Rates for Additional Professional Services: <br />We are hesitant to simply state hourly rates, as often times the needs of the client and the specific <br />tasks directly impact the billing rates for our services. We maintain a policy of flexible billing rates <br />and try to work within client cost - control parameters. However, to provide the City with additional <br />information, the following are our current published billing rates: <br />.• Position ��` � HourlyRate - ��_ <br />Partner $ 250.00 <br />Manager 225.00 <br />Senior 200.00 <br />Professional Staff 160.00 <br />Administrative Staff 90.00 <br />Caporicci & Larsan, CPAs <br />24 <br />t J <br />} <br />�j <br />U <br />