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PROPOSED CONTRACT
Department(s): Office of the Chief Financial Officer
Vendor: Professional Auditing Services of America Co, Southfield, Michigan
Request: Authorization for the Chief Procurement Officer to enter into and execute
Good(s) or Service(s): Consulting Services for Account Recovery
Contract Value: Revenue Generating Contract
Contract period: 2/3/2025 - 2/2/2028, with one (1), one-year renewal option
Potential Fiscal Year Budget Impact: Revenue Generating Contract
Accounts: 11000.1020.12275.407038.00000.00000
Contract Number(s): 2413-01291
Concurrences:
The vendor has met the Minority- and Women-owned Business Enterprise Ordinance via: Direct participation.
Summary: This contract is for accounts payable recovery and audit services and will allow the County to receive maximum value. In general, this includes recovering duplicate payments, overpayments, missed discounts, and contract price variances not recorded or not previously identified. This contract contains a Contingency Fee Based on Year 1-15-27.5% (depending on amount collected), Year 2-14-26.5% (depending on amount collected), Year 3-13-25.5% (depending on amount collected).
Request for Proposals (RFP) procedures were followed in accordance with the Cook County Procurement Code. Professional Auditing Services of America, Co. was selected based on established criteria.
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