Laserfiche WebLink
<br /> <br /> <br /> <br /> <br />Professional services including: <br /> <br />Architectural <br />o <br /> <br />Auditing <br />o <br /> <br />Engineering <br />o <br /> <br />Legal <br />o <br /> <br />Group Insurance <br />o <br /> <br />Banking Services <br />o <br /> <br />Investment Services <br />o <br /> <br />Financial Service Providers <br />o <br /> <br />Construction Management <br />o <br /> <br />Surveying <br />o <br /> <br /> <br />Emergency Purchases <br /> <br />Contractor’s Bond <br />The city is required to obtain both a payment and performance bond for all public work contracts <br />over $100,000. Payment and performance bonds protect the city as well as subcontractors and <br />persons providing labor and materials. When the public work contract is let, the amount of the <br />bond needs to be equal to the contract price. If the contract price increases due to change orders, <br />unforeseen conditions, cost overruns or any other reason after the contract is signed, the city has the <br />option of increasing the amount of the contractor’s bond. Consideration may be given for the <br />percentage of the contract that is complete in relation to the contractor’s bond and the increase in <br />the contract price. <br /> <br />Professional Services <br />Contracts for professional services such as those provided by engineers, attorneys, architects, <br />accountants, and other services requiring technical, scientific or professional training are exempt <br />from competitive bidding requirements. However, the goals to secure professional services remain <br />the same: to ensure all purchases are consistent with Minnesota statutes, to establish internal <br />controls, to maintain the appropriate documentation, and to ensure the best value for the public <br />money. <br /> <br />The following chart identifies the required procedures for professional services contracts. <br />Purchase <br />PurchaseProcessApproving <br />Notes <br /> Level Required Authority <br />● At least two written quotes shall be obtained where there is more <br />$0 -Departmentthan one feasible source. <br />Quotes <br /> $24,999Director ● In cases where the city has established a pool of qualified <br />consultants, the consultant may be selected from the existing pool. <br />● When there is more than one feasible source, the city shall request <br />written price quotations in the form of a Request for Proposal from at <br />least two sources. <br />$25,000 <br />Council● The quotes shall be submitted in written format. <br /> and AboveCity Council <br />Approval● The standard contract shall be awarded to the service provider with <br />the best qualifications and proposal for the specific project. Total <br />cost shall not be the only consideration, but must be included in the <br />analysis of the proposals. <br />Note: EDA/HRA staff will follow the purchasing policy but seek approval from their respective boards. <br /> <br />Financial Management Policies Page 19 <br /> <br />