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Home My Public Portal About064-Govt Fixed Asset GASB 34PROFESSIONAL SERVICES AGREEMENT THIS AGREEMENT made and entered into this i I tk between the City of Richmond, Indiana, a municipal corday 2004, by and of Public Works and Safety (hereinafter referred to as thraon acting d through its Board e Fixed Services, Inc., 10701 South Washtenaw Avenue, ChicagoAsset , Illino s, 60655-1728 (he einaiter referred to as the "Contractor" ). SECTION I. STATEMENT AND SUBJECT OF WORK City hereby retains Contractor to provide consulting services in order to allow the City to satisfy the GASB 34 reporting requirements. Contractor's services shall include, but not be limited to the following: • Providing input regarding the inventory of the City's rights -of -way and in the establishment of the estimated historical cost and estimated fair value of rights -of --way • Providing general infrastructure and right-of-way templates to facilitate the recording of necessary accounting and financial reporting data elements e.g., year of acquisition, historical cost, estimated useful asset life, etc. • Providing input as to the City's aging of general infrastructure assets (establishing estimated dates of acquisition or construction of assets for depreciation purposes) and the allocation and aging of the rights -of -way • Providing input as to general infrastructure asset lifing (estimated useful asset lives for accounting and depreciation purposes) • Making available input and resources regarding the City's estimation of historical cost (price trends, cost indexes, and deflators) • Giving consideration to the GFOA Strategy the potential election of limiting retroactireporting o major classes of nfr s uc ure on Infrastructure as it relates to the City d defining classes of infrastructure narrowly, using estimates whenever possible, using composite approaches to depreciation, and other issues • Providing input as to a City capital asset policy for accounting and financial reporting Purposes in light of the disclosure requirements of GASB Statement No. 34 and the focus on major capital assets • Discussing with the current independent auditors your implementation regarding eneral infrastructure and you assumptions, reasoning, use of estimates, and intended results is and reports. Such work shall meet all applicable professional standards. Contractor shall complete all work in a timely manner in order to allow City sufficient time to incorporate Contractor's advice into its 2004 Financial Statement presentation. Should any provisions, terms, or conditions contained in any of the documents attached hereto as Exhibits, or in any of the documents incorporated by reference herein, conflict with any of the provisions, terms, or conditions of this Agreement, this Agreement shall be controlling. The Contractor shall furnish all labor, material, equipment, and services necessary for the proper completion of all work specified. p No work shall commence until the City is in receipt of any required bonds and certificates of insurance, and until a purchase order has been issued by the Purchasing Department. Contract No. 64-2004 Page I of 4 SECTION II. STATUS OF CONTRACTOR Contractor shall be deemed to be an independent contractor and is not an employee or agent of the City of Richmond. The Contractor shall provide, at its own expense, competent supervision of the work. SECTION III. COMPENSATION City shall pay Contractor at the rate of One Hundred Ninety-five Dollars ($195.00) per hour, provided that Contractor's total compensation shall not exceed the sum of Eight Thousand Nine Hundred Dollars ($8,900.00). Additionally, City shall reimburse Contractor for reasonable travel expenses, incurred in connection with the work required by this Agreement. SECTION IV. TERM OF AGREEMENT This Agreement shall become effective when signed by all parties and shall continue in effect until completion of the project. Notwithstanding the term of this Agreement, City may terminate this Agreement in whole or in part, for cause, at any time by giving at least five (5) working days written notice specifying the effective date and the reasons for termination which shall include but not be limited to the following: a. failure, for any reason of the Contractor to fulfill in a timely manner its obligations under this Agreement; b. submission of a report, other work product, or advice, whether oral or written, by the Contractor to the City that is incorrect, incomplete, or does not meet reasonable professional standards in any material respect; c. ineffective or improper use of funds provided under this Agreement; d. suspension or termination of the grant funding to the City under which this Agreement is made; or e. unavailability of sufficient funds to make payment on this Agreement. In the event of such termination, the City shall be required to make payment for all work performed prior to the date this Agreement is terminated, but shall be relieved of any other responsibility herein. This Agreement may also be terminated by either the City or the Contractor, in whole or in part, by mutual Agreement setting forth the reasons for such termination, the effective date, and in the case of partial termination, the portion to be terminated. SECTION V. COMPLIANCE WITH WORKER'S COMPENSATION LAW Contractor shall comply with all provisions of the Indiana Worker's Compensation law, and shall, before commencing work under this Agreement, provide the City a certificate of insurance, or a certificate from the industrial board showing that the Contractor has complied with Indiana Code Sections 22-3-2-5, 22-3-5-1 and 22-3-5-2. If Contractor is an out of state employer and therefore subject to another state's worker's compensation law, Contractor may choose to comply with all provisions of its home state's worker's compensation law and provide the City proof of such compliance in lieu of complying with the provisions of the Indiana Worker's Compensation Law. Page 2 of 4 SECTION VI. PROHIBITION AGAINST DISCRIMINATION A. Pursuant to Indiana Code 22-9-1-10, Contractor, any sub -contractor, or any person acting on behalf of Contractor or any sub -contractor shall not discriminate against any employee or applicant for employment to be employed in the performance of this Agreement, with respect to hire, tenure, terms, conditions or privileges of employment or any matter directly or indirectly related to employment, because of race, religion, color, sex, disability, national origin, or ancestry. B. Pursuant to Indiana Code 5-16-6-1, the Contractor agrees: That in the hiring of employees for the performance of work under this Agreement of any subcontract hereunder, Contractor, any subcontractor, or any person acting on behalf of Contractor or any sub -contractor, shall not discriminate by reason of race, religion, color, sex, national origin or ancestry against any citizen of the State of Indiana who is qualified and available to perform the work to which the employment relates; 2. That Contractor, any sub -contractor, or any person action on behalf of Contractor or any sub -contractor shall in no manner discriminate against or intimidate any employee hired for the performance of work under this Agreement on account of race, religion, color, sex, national origin or ancestry; 3. That there may be deducted from the amount payable to Contractor by the City under this Agreement, a penalty of five dollars ($5.00) for each person for each calendar day during which such person was discriminated against or intimidated in violation of the provisions of the Agreement; and 4. That this Agreement may be canceled or terminated by the City and all money due or to become due hereunder may be forfeited, for a second or any subsequent violation of the terms or conditions of this section of the Agreement. C. Violation of the terms or conditions of this Agreement relating to discrimination or intimidation shall be considered a material breach of this Agreement. SECTION VII. MISCELLANEOUS This Agreement is personal to the parties hereto and neither party may assign or delegate any of its rights or obligations hereunder without the prior written consent of the other party. Any such delegation or assignment, without the prior written consent of the other party, shall be null and void. This Agreement shall be controlled by and interpreted according to Indiana law and shall be binding upon the parties, their successors and assigns. This document constitutes the entire Agreement between the parties, although it may be altered or amended in whole or in part at any time by filing with the Agreement a written instrument setting forth such changes signed by both parties. By executing this Agreement the parties agree that this document supersedes any previous discussion, negotiation, or conversation relating to the subject matter contained herein. This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. The parties hereto submit to jurisdiction of the courts of Wayne County, Indiana, and any suit arising out of this Contract must be filed in said courts. The parties specifically agree that no Page 3 of 4 arbitration or mediation shall be required prior to the commencement of legal proceedings in said Courts. By executing this Agreement, Contractor is estopped from bringing suit or any other action in any alternative forum, venue, or in front of any other tribunal, court, or administrative body other than the Circuit or Superior Courts of Wayne County, Indiana, regardless of any right Contractor may have to bring such suit in front of other tribunals or in other venues. Any person executing this Contract in a representative capacity hereby warrants that he/she has been duly authorized by his or her principal to execute this Contract. In the event of any breach of this Agreement by Contractor, and in addition to any other damages or remedies, Contractor shall be liable for all costs incurred by City in its efforts to enforce this Agreement, including but not limited to, City's reasonable attorney's fees. In the event that an ambiguity, question of intent, or a need for interpretation of this Agreement arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. IN WITNESS WHEREOF, the parties have executed this Agreement at Richmond, Indiana, as of the day and year first written above, although signatures may be affixed on different dates. "CITY" THE CITY OF RICHMOND, INDIANA by and through its Board of Public Works and Safety By: P• John Kenny, President Date: I t 0 APPROVE Sarah L. Hutton, Mayor Date: % /0 V "CONTRACTOR" GOVERNMENT FIXED ASSET SERVICES, INC. L By:'Z Title: 04,11 � Date: �>-- — l 7 — �> -� Page 4 of 4