Title
Exercise Contract Extension with Galloway Asset Management LLC for Financial Wellness Educational Services (Ordinance S-43489)
Description
Request authorization for the City Manager, or his designee, to enter into an amendment to Contract #138481 with Galloway Asset Management LLC to exercise the remaining two option years of the contract. Galloway provides financial health and wellness educational consulting services, in partnership with the Employee Assistance Program and Firestrong. Authorization is also requested for the City Controller to disburse the funds for purposes of this ordinance.
Report
Summary
Galloway Asset Management LLC provides financial education, consultation, and advice to firefighters. These services are provided to mitigate stress and support firefighter mental health.
Procurement Information
In March 2014, a Request For Proposals (RFP) for the above-described services was advertised. The successful proposal was submitted by Galloway Asset Management LLC.
Contract Term
The initial three-year term of the contract was from June 29, 2014 through June 30, 2017. This request is to exercise the remaining two years of the five-year overall contract, from July 1, 2017 through June 30, 2019.
Financial Impact
Per the contract terms, the aggregate five-year cost shall not exceed $240,000. This request for the remaining two years, for approximately $48,000 (FY 17-18: $24,000; FY 18-19: $24,000) will not exceed the $240,000 total aggregate five-year amount. Funds for this service are included in the Fire Department's operating budget.
Concurrence/Previous Council Action
This item was approved by City Council on May 4, 2016.
Department
Responsible Department
This item is submitted by Assistant City Manager Milton Dohoney, Jr. and the Fire Department.