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HomeMy WebLinkAboutRFP - 10168 Consulting Services - Utility Financial Planning RFP 10168 – Consulting Services – Utility Financial Planning Page 1 of 30 REQUEST FOR PROPOSAL 10168 - CONSULTING SERVICES - UTILITY FINANCIAL PLANNING RFP DUE: 3:00 PM MT (Mountain Time), June 25, 2025 The City of Fort Collins is requesting proposals from qualified Professionals to provide consulting services for development of long-term financial planning models for the electric, water, wastewater, and stormwater enterprise funds. As part of the City’s commitment to sustainability, proposals must be submitted online through the Rocky Mountain E-Purchasing System (RMEPS) at http://www.bidnetdirect.com/colorado/city- of-fort-collins. Note: please ensure adequate time to submit proposals through RMEPS. Proposals not submitted by the designated Opening Date and Time will not be accepted by RMEPS. All questions should be submitted, in writing via email, to Jake Rector, Senior Buyer at jrector@fcgov.com, with a copy to Joe Wimmer, Project Manager, at jwimmer@fcgov.com, no later than 3:00 PM MT on June 12, 2025. Please format your e-mail to include: RFP 10168 – Consulting Services – Utility Financial Planning in the subject line. Questions received after this deadline may not be answered. Responses to all questions submitted before the deadline will be addressed in an addendum and posted on the Rocky Mountain E-Purchasing System webpage. Rocky Mountain E-Purchasing System hosted by BidNet A copy of the RFP may be obtained at http://www.bidnetdirect.com/colorado/city-of-fort-collins. This RFP has been posted utilizing the following Commodity Code(s): 91897 Consulting Services Utilities: Gas, Water, Electric Consulting Prohibition of Unlawful Discrimination: The City of Fort Collins, in accordance with the provisions of Title VI of the Civil Rights Act of 1964 (78 Stat. 252, 42 US.C. §§ 2000d to 2000d- 4) and the Regulations, hereby notifies all bidders that it will affirmatively ensure that any contract entered into pursuant to this advertisement, disadvantaged business enterprises will be afforded full and fair opportunity to submit bids in response to this invitation and will not be discriminated against on the grounds of race, color, or national origin in consideration for an award. The City strictly prohibits unlawful discrimination based on an individual’s gender (regardless of gender identity or gender expression), race, color, religion, creed, national origin, ancestry, age 40 years or older, marital status, disability, sexual ori entation, genetic information, or other characteristics protected by law. For the purpose of this policy “sexual orientation” means a person’s actual or perceived orientation toward heterosexuality, homosexuality, and bisexuality. The City also strictly prohibits unlawful harassment in the workplace, including sexual harassment. Further, the City strictly prohibits unlawful retaliation against a person who engages in protected activity. Protected activity includes an employee complaining that he or she has been discriminated against in violation of the above policy or participating in an employment discrimination proceeding. Financial Services Purchasing Division 215 N. Mason St. 2nd Floor PO Box 580 Fort Collins, CO 80522 970.221.6775 fcgov.com/purchasing RFP 10168 – Consulting Services – Utility Financial Planning Page 2 of 30 The City requires its Professionals to comply with the City’s policy for equal employment opportunity and to prohibit unlawful discrimination, harassment and retaliation. This requirement applies to all third-party Professionals and their subcontractors/subconsultants at every tier. Public Viewing Copy: The City is a governmental entity subject to the Colorado Open Records Act, C.R.S. §§ 24-72-200.1 et seq. (“CORA”). Any proposals submitted hereunder are subject to public disclosure by the City pursuant to CORA and City ordinances. Professionals may submit one (1) additional complete proposal clearly marked “FOR PUBLIC VIEWING.” In this version of the proposal, Professionals may redact text and/or data that it deems confidential or proprietary pursuant to CORA. All pricing will be considered public records subject to disclosure under CORA and as such pricing cannot be redacted from the “FOR PUBLIC VIEWING” version of the proposal. Failure to provide a public viewing copy will be considered a waiver of any claim of confidentiality under CORA without regard to how the applicant’s proposal or certain pages of the proposal are marked confidential, proprietary, or similar. Suc h statement does not necessarily exempt such documentation from public disclosure if required by CORA, by order of a court of appropriate jurisdiction, or other applicable law. Generally, under CORA, trade secrets, confidential commercial information and financial data information may not be disclosed by the City. Proposals may not be marked “Confidential” or ‘Proprietary’ in their entirety. By responding to this RFP, Professionals hereby waives any and all claims for damages against the City for the City’s good faith compliance with CORA. All provisions and pricing of any contract resulting from this request for proposal will be public information. Professionals Registration: The City requires new Professionals receiving awards from the City to submit IRS form W-9 and requires all Professionals to accept Direct Deposit (Electronic) payment. If needed, the W-9 form and the Vendor Direct Deposit Authorization Form can be found on the City’s Purchasing website at www.fcgov.com/purchasing under Vendor Reference Documents. Please do not submit these documents with your proposal, however, if you take exception to participating in Direct Deposit (Electronic) payments please clearly note such in your proposal as an exception. The City may waive the requirement to participate in Direct Deposit (Electronic) payments at its sole discretion. Sales Prohibited/Conflict of Interest: No officer, employee, or member of City Council, shall have a financial interest in the sale to the City of any real or personal property, equipment, material, supplies or services where such officer or employee exercises directly or indirectly any decision-making authority concerning such sale or any supervisory authority over the services to be rendered. This rule also applies to subcontracts with the City. Soliciting or accepting any gift, gratuity favor, entertainment, kickback or any items of monetary value from any person who has or is seeking to do business with the City of Fort Collins is prohibited. Collusive or Sham Proposals: Any proposal deemed to be collusive or a sham proposal will be rejected and reported to authorities as such. Your authorized signature of this proposal assures that such proposal is genuine and is not a collusive or sham proposal. The City of Fort Collins reserves the right to reject any and all proposals and to waive any irregularities or informalities. Utilization of Award by Other Agencies: The City of Fort Collins reserves the right to allow other state and local governmental agencies, political subdivisions, and/or school districts to utilize the resulting award under all terms and conditions specified and upon agreement by all parties. Usage by any other entity shall not have a negative impact on the City of Fort Collins in the current term or in any future terms. RFP 10168 – Consulting Services – Utility Financial Planning Page 3 of 30 The selected Professional shall be required to sign the City’s Agreement prior to commencing services (see sample attached to this document). Sincerely, Gerry Paul Purchasing Director RFP 10168 – Consulting Services – Utility Financial Planning Page 4 of 30 I. BACKGROUND & OBJECTIVE / OVERVIEW A. Objective The City of Fort Collins Utilities is soliciting proposals for a study of revenue requirements & rates, and development of a long-term financial planning model for the electric, water, wastewater, and stormwater enterprise funds. Consulting assistance is desired for a review of existing long-term financial planning models and development of new models to establish long-term revenue requirements to be used for recommending future rate increases for each enterprise. Cost of service analysis and comprehensive rate design are not included in the scope of this rate study, with the exception of a requested review of existing development Electric Capacity Fee (ECF) methodologies, and a review of existing fixed versus variable rates splits with regard to industry standards and City goals. Request For Proposal (RFP) identifies the basic study objectives, scope of work, proposal requirements and project schedule. A list of other documents that will be made available to potential firms upon request is also included. B. Background Fort Collins is a vibrant community of approximately 175,000 located 65 miles north of Denver, at the base of the foothills of the Rocky Mountains. The City is 56 square miles in size and is the northern extension of the “Colorado Front Range” urban corri dor. City of Fort Collins Utilities (Utilities) serves more than 78,000 electric customers, 35,000 retail water customers, 35,000 wastewater customers, and 72,000 stormwater customers. The Utilities generate total annual revenues close to $300 million. The strategic drivers for an updated financial planning model include an enhanced focus by Fort Collins Utilities on capital improvement planning and long-term asset management goals. Strategic asset management planning, including capital improvement plan (CIP) updates for all four utilities, is underway and anticipated to be conducted separately by Utilities staff, although in parallel, to financial plan modeling efforts. Updated CIPs are anticipated to include projects of significant magnitude including a $200 million water reservoir expansion project that will have a substantial impact to future water utility rates. Fort Collins Light & Power receives its power supply from Platte River Power Authority (PRPA), a community-owed wholesale electricity provider for the cities of Fort Collins, Longmont, Loveland and Estes Park. PRPA will soon be evaluating the alignment of wholesale and community retail rate structures, with consideration of distributed energy resources and virtual power plant development. Collaboration between rate review efforts may be requested during the study period if within scope and necessary. II. SCOPE OF PROPOSAL A. Scope of Work RFP 10168 – Consulting Services – Utility Financial Planning Page 5 of 30 In order to meet the objectives, the City anticipates that the firm’s scope of work will include the following tasks. Deviation from these tasks shall be highlighted in the proposal. The scope of work should be conducted in conformance with standard industry methodologies and generally accepted practices. a. For the four (4) Utility enterprise funds, develop a 10-year long-range financial plan model which incorporates the Utilities’ capital improvement plans (CIP) and a forecast of operating revenue and expenses based on Utilities historical actuals, existing forecast models, and approved 2025/2026 budget. b. Analyze and make recommendations on future rate projections (within the Utilities’ current rate structure) to meet revenue requirements for a five (5) year period that adequately funds all operational, maintenance, and capital needs, with rate range estimates for the additional five (5) years of the long-range financial plan. c. Review of outstanding debt and projected capital improvement plan expenses that may require future debt issuances. Recommend rates that will meet Utilities’ desired financial metrics in consideration of bond rating agency evaluations. d. Identify and provide potential alternative rate scenarios to meet financial targets and capital replacement targets based on the Utilities’ capital improvement plans. For each alternative rate scenario, the firm shall provide studies of present and future cash flow, implementation schedules and the effect of variations in critical assumptions such as customer growth, sales, conservation strategies, seasonable aberrations, costs of capital improvements, and debt service. e. Consultant will develop spreadsheet analyses that models established financial planning and rate procedures. These analyses will be part of an excel-based financial planning and rate model that will enable the utility to periodically revise and update the studies and projections of revenue and revenue requirements on a routine basis. The model will incorporate required features necessary to permit continuing, user-friendly, “in-house” application by utility staff. f. Report on the effect of proposed rates on typical utility customers. g. Compare and discuss the City’s electric, water, stormwater, and wastewater rates versus neighboring communities along the Colorado Front Range. h. Review the City’s existing methodology for assessing electric development fees, known as Electric Capacity Fees (ECF), and evaluate against industry standard methodologies. i. Provide an industry review and recommendation for the City’s fixed base rates versus variable consumption rates within the existing rate structures, with consideration to affordability, equity, revenue volatility, and conservation goals. j. Present to City Council or sub-committee if requested in partnership with City staff. B. Deliverables/Milestones Completed Long-Term Financial Planning Model submitted to the City by November 30, 2025 Completed review and recommendation of Electric Capacity Fee methodology Submitted to the City by November 30, 2025 Completed review and analysis of fixed and variable rate structures as compared to RFP 10168 – Consulting Services – Utility Financial Planning Page 6 of 30 industry standards submitted to the City by November 30, 2025 C. Anticipated Schedule The following represents the City’s target schedule for the RFP. The City reserves the right to amend the target schedule at any time. • RFP issuance: June 4, 2025 • Question deadline: 3:00 PM MT on June 12, 2025 • Proposal due date: 3:00 PM MT on June 25, 2025 • Interviews (tentative): Week of July 7th • Award of Contract (tentative): July 2025 • Completion of project: November 30, 2025 D. Interviews In addition to submitting a written proposal, the top-rated Professionals may be interviewed by the RFP assessment team and asked to participate in an oral presentation to provide an overview of the company, approach to the project and to address questions. The evaluation criteria for the oral interviews will be the same as the criteria for the written evaluations and is included in Section IV. Instead of traditional in-person interviews for the optional interview session, the City may opt to use alternate methods including, but not limited to remote interviews through a platform such as Microsoft Teams. E. Travel & Expenses Subject to the terms of the applicable Work Order, reasonable expenses may be reimbursable per the current rates found at www.gsa.gov. Professional will be required to provide original receipts to the City for all travel expenses. F. Subcontractors/Subconsultants Professional will be responsible for identifying any subcontractors and/or subconsultants in their proposal. Please note that the City will contract solely with the awarded Professional; therefore, subcontractors and/or subconsultants will be the responsibility of the Professional. G. Current standards All work and/or materials must meet current standards in force by recognized technical and professional societies, trade and materials supply associations, institutes and organizations, bureaus and testing laboratories, and national, federal, state, county , and local laws, codes and ordinances. H. Fees, Licenses, Permits The successful Professional shall be responsible for obtaining any necessary licenses, fees or permits without additional expense to the City. All vehicles and equipment shall be properly licensed and insured, carry the appropriate permits and be placarded as required RFP 10168 – Consulting Services – Utility Financial Planning Page 7 of 30 by law. I. Laws and Regulations The Professional agrees to comply fully with all applicable local, State of Colorado and Federal laws and regulations and municipal ordinances to include American Disabilities Act (ADA). J. Invoicing and Payment Invoices should be emailed monthly to invoices@fcgov.com with a copy to the Project Manager. The cost of the work completed shall be paid to the Professional each month following the submittal of a correct invoice by the Professional indicating the project name, Purchase Order number, task description, hours worked, personnel/work type category, hourly rate for each employee/work type category, date of the work performed specific to the task, percentage of that work that has been completed by task, 3rd party supporting documentation with the same detail and a brief progress report. Payments will be made using the prices stated in the Work Order and Agreement. In the event a service is requested which is not stated in the Work Order and/or Agreement, the Professional and the City will negotiate an appropriate unit price for the service prior to the Professional initiating such work. The City pays invoices on Net 30 terms. III. PROPOSAL SUBMITTAL Please limit the total length of your proposal to a maximum of fifty (50) 8 ½ x 11” pages (excluding cover pages, table of contents, dividers and Acknowledgement form). Font shall be a minimum of 10 Arial and margins are limited to no less than .5” for sides and top/bottom. Extended page sizes, such as 11” x 17”, count as a single page and may be used for detailed pricing. Links to other files or websites shall not be permitted. Proposals that do not conform to these requirements may be rejected. Professionals are required to provide detailed written responses to the following items in the order outlined below. The responses shall be considered technical offers of what Professionals propose to provide and shall be incorporated in the contract award as deemed appropriate by the City. A proposal that does not include all the information required may be deemed non-responsive and subject to rejection. Responses must include all the items in the order listed below. It is suggested that the Professionals include each of the City’s questions with their response. The City of Fort Collins shall not reimburse any firm for costs incurred in the preparation and presentation of their proposal. A. Cover Letter / Executive Summary The Executive Summary should highlight the content of the proposal and features of the program offered, including a general description of the program and any unique aspects or benefits provided by your firm. Indicate your availability to participate in the interviews/demonstrations on the proposed dates as stated in the Schedule section. B. Professional Information RFP 10168 – Consulting Services – Utility Financial Planning Page 8 of 30 1. Describe the Professional’s business and background 2. Number of years in the business 3. Details about ownership 4. An overview of services offered and qualifications 5. Size of the firm 6. Location(s) of offices. If multiple, please identify which will be the primary for our account. 7. Primary contact information for the company including contact name(s) and title(s), mailing address(s), phone number(s), and email address(s). C. Scope of Proposal 1. Provide a detailed narrative of the services proposed if awarded the contract per the scope above. The narrative should include any options that may be beneficial for the City to consider. 2. Describe how the project would be managed and who would have primary responsibility for its timely and professional completion. 3. Briefly describe the approach to execute the scope of work to include the methods and assumptions used, and any exceptions and/or risks. 4. Describe the methods and timeline of communication your firm will use with the City’s Project Manager and other parties. 5. Include a description of the software and other analysis tools to be used. 6. Identify what portion of work, if any, may be subcontracted or outsourced to subconsultants. Include all applicable information herein requested for each Professional. 7. Can the work be completed in the necessary timeframe, with target start and completion dates met? 8. Are other qualified personnel available to assist in meeting the project schedule if required? 9. Is the project team available to attend meetings as required by the Scope of Work? 10. Provide an outline of the schedule for completing tasks. D. Firm Capability and Assigned Personnel Provide relevant information regarding previous experience related to this or similar projects, to include the following: 1. Provide an Organization Chart/Proposed Project Team: An organization chart containing the names of all key personnel and subconsultants with titles and their specific task assignment for this Agreement shall be provided in this section. 2. Provide resumes for each professional and technical person to be assigned to the project, including partners, subconsultants, and subcontractors. Please limit resumes to one page. 3. A list of qualifications for your firm and qualifications and experience of the specific RFP 10168 – Consulting Services – Utility Financial Planning Page 9 of 30 staff members proposed to perform the services described above. 4. References. Provide a minimum of three similar projects with public agencies in the last 5 years that have involved the staff and subcontractors/subconsultants proposed to work on this project. Include the owner’s name, title of project, contact name, email and phone number, subconsultants on the team and a brief description of the work and any change orders. The Professional authorizes the City to verify any and all information contained herein and hereby releases all those concerned providing information as a reference from any liability in connection with any information provided. 5. Provide any information that distinguishes Professional from its competition and any additional information applicable to this RFP that might be valuable in assessing Professional’s proposal. E. Sustainability/TBL Methodology In concise terms (no more than two pages), please describe your organization’s commitment to sustainability and supporting values. Each element of the TBL sustainability criteria will receive equal consideration in determining the final Sustainability/TBL score. 1. Address how your firm strives to incorporate all three aspects (social, environmental, and economic) of Triple Bottom Line (TBL) sustainable practices into the workplace. Provide examples along with any metrics used to measure success within your firm. 2. Also provide examples of how your firm has incorporated all three aspects of TBL sustainable practices in previous similar projects on which your firm has been the prime Professional. Some examples are provided below: a. Environmental – Experience delivering projects / programs focused on environmental health priorities in the areas of climate resiliency, water quality and watershed protection, regulatory performance, management systems, air quality, renewable energy, sustainable building and design, construction materials management, and solid waste reduction. b. Economic – Experience working and delivering projects with an emphasis on strategic financial planning, job creation, business development, asset management, various project delivery methods, value engineering, regional partnerships, transparency, stakeholder engagement, strategic investments, aging infrastructure, repurposing of existing facilities, and competing financial priorities. c. Social - Experience working and delivering projects, programs, and/or initiatives that support Equity, Diversity, and Inclusion throughout your firm’s workplace, including leadership, and supply chain. Examples of this may be demonstration of working within cultural and language gaps, development of diversity programs, diverse project teams, equitable opportunity vendor supply chain, and how your firm has applied an equity lens to processes such as recruitment, hiring, purchasing, career pathways, salaries, and staff engagement. RFP 10168 – Consulting Services – Utility Financial Planning Page 10 of 30 F. Cost and Work Hours In your response to this proposal, please provide the following: 1. Estimated Hours by Task: Provide estimated hours for each proposed task by job title and employee name, including the time required for meetings, conference calls, etc. 2. Cost by Task: Provide the cost of each task identified in the Scope of Proposal section. Provide a total not to exceed cost for the Scope of Proposal. Price all additional services/deliverables separately. 3. Schedule of Rates: Provide a schedule of billing rates by category of employee and job title to be used during the term of the Agreement. This fee schedule will be firm for at least one (1) year from the date of the Agreement. The fee schedule will be used as a basis for determining fees should additional services be necessary. Include a per meeting rate in the event additional meetings are needed. A fee schedule for subconsultants/subcontractors, if used, shall be included. 4. All direct costs (i.e., travel, printing, postage, etc.) specifically attributed to the project and not included in the billing rates must be identified. Reasonable expenses may be reimbursable as per the current rates found at www.gsa.gov. Professional will be required to provide original receipts to the City for all travel expenses. G. Sample Agreement Included with this request for proposals is a sample Agreement that the City intends to use for obtaining the services of the Professional. The Professional is required to review this Agreement and indicate any objections to the terms of the contract. If revisions to the contractual terms are requested, provide suggested revisions. H. Acknowledgement The Acknowledgement form is attached as Section V. Complete the attached form indicating the Professional hereby acknowledges receipt of the City of Fort Collins Request for Proposal and acknowledges that the Professional has read and agrees to be fully bound by all of the terms, conditions and other provisions set forth in the RFP. IV. REVIEW AND ASSESSMENT CRITERIA A. Proposal and Interview Criteria Professionals will be evaluated on the following criteria. This set of criteria will be the basis for review and assessment of the written proposals and optional interview session. At the discretion of the City, interviews of the top-rated Professionals may be conducted. The rating scale shall be from 1 to 10, a rating of 1 doesn’t meet minimum requirements, a rating of 5 means the category fulfills the minimum requirements, and 10 exceeds minimum requirements in that category. RFP 10168 – Consulting Services – Utility Financial Planning Page 11 of 30 WEIGHTING FACTOR CATEGORY STANDARD QUESTIONS 2.0 Scope of Proposal Does the proposal address all elements of the RFP? Does the proposal show an understanding of the project objectives, methodology to be used and results/outcomes required by the project? Are there any exceptions to the specifications, Scope of Work, or agreement? Can the work be completed in the necessary time? Can the target start and completion dates be met? Is the project team available to attend meetings as required by the Scope of Work? 4.0 Firm Capability & Assigned Personnel Does the firm have the resources, financial strength, capacity and support capabilities required to successfully complete the project on- time and in-budget? Has the firm successfully completed previous projects of this type and scope? Do the persons who will be working on the project have the necessary skills and qualifications? Are sufficient people of the requisite skills and qualifications assigned to the project? 1.0 Sustainability/TBL Methodology Does the firm demonstrate a commitment to Sustainability and incorporate Triple Bottom Line methodology in both their Scope of Work for the project, and their day-to-day business operating processes and procedures? Does the firm demonstrate a commitment to all three aspects (social, environmental, and economic) of the Triple Bottom Line (TBL) methodology of sustainability for this project and in their company value system as evidenced by their day-to-day business operating processes, practices and procedures? 3.0 Cost & Work Hours Does the proposal included detailed cost break- down for each cost element as applicable and are the line-item costs competitive? Do the proposed cost and work hours compare favorably with the Project Manager's estimate? Are the work hours presented reasonable for the effort required by each project task or phase? RFP 10168 – Consulting Services – Utility Financial Planning Page 12 of 30 V. ACKNOWLEDGEMENT This form may not be redlined and must be submitted with your proposal. Failure to adhere to these requirements may result in your proposal being rejected. Professional hereby acknowledges receipt of the City of Fort Collins Request for Proposal and acknowledges that it has read and agrees to be fully bound by all of the terms, conditions and other provisions set forth in the RFP 10168 – Consulting Services – Utility Financial Services and sample Agreement except as otherwise noted. Additionally, Professional hereby makes the following representations to City: a. All of the statements and representations made in this proposal are true to the best of the Professional’s knowledge and belief. b. Professional commits that it is able to meet the terms provided in this proposal. c. This proposal is a firm and binding offer, for a period of 90 days from the date hereof. d. Professional further agrees that the method of award is acceptable. e. Professional also agrees to complete the proposed Agreement with the City of Fort Collins within 10 days of notice of award. If contract is not completed and signed within 10 days, City reserves the right to cancel and award to the next highest rated firm. f. Professional acknowledges receipt of addenda. g. Professional acknowledges no conflict of interest. h. Professional acknowledges that the City is a governmental entity subject to the Colorado Open Records Act, C.R.S. §§ 24-72-200.1 et seq. (“CORA”). Any proposals submitted hereunder are subject to public disclosure by the City pursuant to CORA and City ordinances. Professionals may submit one (1) additional complete proposal clearly marked “FOR PUBLIC VIEWING.” In this version of the proposal, Professionals may redact text and/or data that it deems confidential or proprietary pursuant to CORA . All pricing will be considered public records subject to disclosure under CORA and as such pricing cannot be redacted from the “FOR PUBLIC VIEWING” version of the proposal. Failure to provide a public viewing copy will be considered a waiver of any claim of confidentiality under CORA without regard to how the applicant’s proposal or certain pages of the proposal are marked confidential, proprietary, or similar. Such statement does not necessarily exempt such documentation from public disclosure if required by CORA, by order of a court of appropriate jurisdiction, or other applicable law. Generally, under CORA, trade secrets, confidential commercial information and financial data information may not be disclosed by the City. Proposals may not be marked “Confidential” or ‘Proprietary’ in their entirety. By responding to this RFP, Professionals hereby waives any and all claims for damages against the City for the City’s good faith compliance with CORA. All provisions and pricing of any contract resulting from this request for proposal will be public information. Legal Firm Name: Physical Address: Remit to Address: RFP 10168 – Consulting Services – Utility Financial Planning Page 13 of 30 Phone: Name of Authorized Agent of Firm: Signature of Authorized Agent: Primary Contact for Project: Title: Email Address: Phone: Cell Phone: NOTE: ACKNOWLEDGMENT IS TO BE SIGNED & RETURNED WITH YOUR PROPOSAL. Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 14 of 30 VI. SAMPLE AGREEMENT (FOR REFERENCE ONLY – DO NOT SIGN ) PROFESSIONAL SERVICES AGREEMENT This Professional Services Agreement (Agreement) made and entered into the day and year set forth in the Agreement Period section below by and between the CITY OF FORT COLLINS, COLORADO, a Colorado Municipal Corporation (City) and , a(n) [enter state] [business type] (Professional). WITNESSETH: In consideration of the mutual covenants and obligations herein expressed, it is agreed by and between the parties hereto as follows: 1. Scope of Service. The Professional agrees to provide Services in accordance with the Scope of Services (Services) attached as Exhibit A, consisting of [# of Pages] and incorporated herein. Irrespective of references in to named third parties in this A greement and its Exhibits, the Professional shall be solely responsible for performance of all duties hereunder. 2. Changes. The City may, at any time during the term of the Agreement, make changes to the Agreement. Such changes shall be agreed upon in writing by the parties. 3. Agreement Period. Agreement shall commence , 20(Year) (the Effective Date) and shall continue in full force and effect until November 30, 2025, unless sooner terminated as herein provided. In addition, at the option of the City, the Agreement may be extended for additional one-year periods not to exceed two (2) additional one-year period(s). Renewals and pricing changes shall be negotiated by and agreed to by both parties only at the time of renewal. Written notice of renewal shall be provided to the P rofessional no later than thirty (30) days prior to Agreement end. 4. Early Termination by City. Notwithstanding the time periods contained herein, the City may terminate this Agreement at any time without cause or penalty by providing at least ten (10) calendar days written notice of termination to the Professional. In the event of early termination by the City, the Professional shall be paid for Services rendered up to the date of termination, subject to the satisfactory performance of the Professional 's obligations under this Agreement. Professional shall submit a final invoice within ten (10) calendar days of the effective date of termination. Payment shall be the Professional's sole right and remedy for termination. 5. Notices. All notices provided under this Agreement shall be effective immediately when emailed or three (3) business days from the date of the notice when mailed to the following addresses: Professional: City: Copy to: Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 15 of 30 Attn: Email Address City of Fort Collins Attn: Joe Wimmer PO Box 580 Fort Collins, CO 80522 jwimmer@fcgov.com City of Fort Collins Attn: Purchasing Dept. PO Box 580 Fort Collins, CO 80522 purchasing@fcgov.com All notices under this Agreement shall be written. 6. Compensation. In consideration of the Services to be performed pursuant to this Agreement, the City agrees to pay the Professional on a time and reimbursable direct cost basis in accordance with Exhibit B, consisting of [# of Pages], attached and incorporated herein. Monthly partial payments based upon the Professional's billings and itemized statements are permissible. The amounts of all such partial payments shall be based upon the Professional's City-verified progress in completing the Services to be performed pursuant hereto and upon the City's approval of the Professional's actual reimbursable expenses. Final payment shall be made following acceptance of the Services by the City. Invoices shall be emailed to invoices@fcgov.com with a copy to the City Project Manager. The cost of the work completed shall be paid to the Professional following the submittal of a correct itemized invoice by the Professional. The City is exempt from sales and use tax. The City’s Certificate of Exemption license number is 09804502. A copy of the license is available upon written request. The City pays undisputed invoices on Net 30 days from the date of the invoice submittal to the City or, for disputed invoices, Net 30 days from the date of City Project Manager’s approval. 7. Design and Service Standards. The Professional warrants and shall be responsible for the professional quality, technical accuracy, accessibility requirements under ADA and Public Accommodations and Technology Accessibility sections below, timely completion and the coordination of all Services rendered by the Professional, and the Project Instruments as defined in the Project Instruments and License section below. The Professional shall, without additional compensation, promptly remedy and correct any errors, omissions, or other deficiencies from such standards. 8. Indemnification. The Professional shall indemnify, defend, and hold harmless the City and its officers and employees, to the maximum extent permitted under Colorado law, against and from any and all actions, suits, claims, demands, or liability of any character whatsoever claimed by the Professional or third parties against the City arising out of or related to this Agreement (including but not limited to contract, tort, intellectual property, accessibility, or otherwise). This obligation extends to reimbursement of the City's defense costs and reasonable attorney’s fees. 9. Insurance. The Professional shall maintain insurance in accordance with Exhibit C, consisting of one (1) page, attached and incorporated herein. Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 16 of 30 10. Appropriation. To the extent this Agreement or any provision in it. requires payment of any nature in fiscal years subsequent to the current fiscal year and constitutes a multiple fiscal year debt or financial obligation of the City, it shall be subject to annual appropriation by Fort Collins City Council as required in Article V, Section 8(b) of the City Charter, City Code Section 8-186, and Article X, Section 20 of the Colorado Constitution. The City shall have no obligation to continue this Agreement in any fiscal year for which there are no pledged cash reserves or supporting appropriations pledged irrevocably for purposes of payment obligations herein. Non-appropriation by the City shall not be construed as a breach of this Agreement. 11. Project Instruments and License. a. Upon execution of this Agreement, the Professional grants to the City an irrevocable, unlimited and royalty free license to use any and all sketches, drawings, as -builts, specifications, designs, blueprints, data files, calculations, studies, analysis, renderings, models, plans, reports, and other deliverables (Project Instruments), in any form whatsoever and in any medium expressed, for purposes of constructing, using, maintaining, altering and adding to the project, provided that the City substantially performs its obligations under the Agreement. The license granted hereunder permits the City and third parties reasonably authorized by the City to reproduce applicable portions of the Project Instruments for use in performing the Services or construction for the project. In addition, the license granted hereunder shall permit the City and third parties reasonably authorized by the City to reproduce and use the Project Instruments for similar projects, provided however, in such event the Professional shall not be held responsible for the design to the extent the City deviates from the Project Instruments. This license shall survive termination of the Agreement by default or otherwise. b. Upon payment of each invoice, associated Project Instruments rendered by the Professional shall become the City’s property. The Professional shall provide the City with the Project Instruments in electronic format in a mutually agreed upon file type. 12. City Project Manager. The City will designate, before commencement of the Services, the City Project Manager who shall make, within the scope of their authority, all necessary and proper decisions with reference to the Services provided under this Agreement. All requests for contract interpretations, change order, and other clarification or instruction shall be directed to the City Project Manager. 13. Project Status Report. Project status reports may be required by Exhibit A – Scope of Services and shall be submitted to the City Project Manager. Failure to provide any required status report may result in the suspension of the processing of any invoice. 14. Independent Contractor. The Services to be performed by the Professional are those of an independent contractor and not of an employee of the City. The City shall not be responsible for withholding or remitting any portion of the Professional 's compensation hereunder or Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 17 of 30 any other amounts on behalf of Professional for the payment of FICA, Workers' Compensation, unemployment insurance, other taxes or benefits or for any other purpose. 15. Personal Services. It is understood that the City enters into this Agreement based on the special abilities of the Professional and that this Agreement shall be considered as an Agreement for personal services. Accordingly, the Professional shall neither assign any responsibilities nor delegate any duties arising under this Agreement without the prior written consent of the City. 16. Subcontractors/Subconsultants. The Professional may not subcontract any of the Services without the prior written consent of the City, which shall not be unreasonably withheld. If any of the Services is subcontracted hereunder, with the consent of the City, then the following provisions shall apply: a. the subcontractor must be a reputable, qualified firm with an established record of successful performance in its respective trade performing identical or substantially similar work; b. the subcontractor will be required to comply with all applicable terms of this Agreement; c. the subcontract will not create any contractual relationship between any such subcontractor and the City, nor will it obligate the City to pay or see to the payment of any subcontractor; and d. the work of the subcontractor will be subject to inspection by the City to the same extent as the work of the Professional. The Professional shall require all subcontractor/subconsultants performing Services hereunder to maintain insurance coverage naming the City as an additional insured under this Agreement and Exhibit C, consisting of one (1) page, attached and incorporated herein. The Professional shall maintain a copy of each subcontractor’s/subconsultant’s certificate evidencing the required insurance. Upon request, the P rofessional shall promptly provide the City with a copy of the certificate(s). The Professional shall be responsible for any liability directly or indirectly arising out of the Services performed under this Agreement by a subcontractor/subconsultant, which liability is not covered by the subcontractor/subconsultant's insurance. 17. Acceptance Not Waiver. The City's approval of Project Instruments furnished hereunder shall not in any way relieve the Professional of responsibility for the quality or technical accuracy of the Services. The City's approval or acceptance of, or payment for, any of the Services shall not be construed to operate as a waiver of any rights or benefits provided to the City under this Agreement. 18. Default. Each and every term and condition hereof shall be deemed to be a material element of this Agreement. In the event either party should fail to or refuse to perform according to the terms of this Agreement, that party may be declared in default upon notice. Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 18 of 30 19. Remedies. In the event a party has been declared in default, that defaulting party shall be allowed a period of ten (10) calendar days from the date of notice within which to cure said default. In the event the default remains uncorrected, the party declaring default may elect to: a. terminate the Agreement and seek damages; b. treat the Agreement as continuing and require specific performance; or c. avail themselves of any other remedy at law or equity. In the event of a dispute between the parties regarding this Agreement, each party shall bear its own attorney fees and costs, except as provided for in the Indemnification and Technology Accessibility sections. 20. Entire Agreement; Binding Effect; Authority to Execute. This Agreement, along with all Exhibits and other documents incorporated herein, shall constitute the entire A greement of the parties regarding this transaction and the matter recited herein. This Agreement supersedes any prior agreements, promises, or understandings as to the matter recited herein. The Agreement shall be binding upon the parties, their officers, employees, agents and assigns and shall inure to the benefit of the respective survivor s, heirs, personal representatives, successors and assigns of said parties. Covenants or representations regarding the matter recited herein, not contained in this Agreement shall not be binding on the parties. In the event of a conflict between terms of the Agreement and any exhibit or attachment, the terms of the Agreement shall prevail. Each person executing this Agreement affirms that they have the necessary authority to sign on behalf of their respective party and to bind that party to the terms of this Agreement. 21. Law/Severability. The laws of the State of Colorado and the City of Fort Collins Charter and Municipal Code shall govern the construction, interpretation, execution and enforcement of this Agreement —without regard to choice of law or conflict of law principles. The Parties further agree that Larimer County District Court is the proper venue for all disputes. If the City subsequently agrees in writing that the matter may be heard in federal court, venue will be District Court for the District of Colorado. In the event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, that holding shall not invalidate or render unenforceable any other provision of this Agreement. 22. Use by Other Agencies. The City reserves the right to allow other state and local governmental agencies, political subdivisions, and/or school districts (collectively Agency) to use the City’s award determination to the Professional. Use by any other Agency shall not have a negative impact on the City in the current term or in any future terms. Nothing herein shall be deemed to authorize or empower the Agency to act as an agent for the City in connection with the exercise of any rights hereunder, and neith er party shall have any right or authority to assume or create any obligation or responsibility on behalf of the other. The other Agency shall be solely responsible for any debts, liabilities, damages, claims or expenses incurred in connection with any agreement established solely between the Agency and the Professional. The City’s concurrence hereunder is subject to the Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 19 of 30 Professional’s commitment that this authorization shall not have a negative impact on the Services to be completed for the City. 23. Prohibition Against Unlawful Discrimination. The Professional acknowledges that the City, in accordance with the provisions of Title VI of the Civil Rights Act of 1964 (78 Stat. 252, 42 US.C. §§ 2000d to 2000d-4); C.R.S. § 24-34-401, and any associated State or Federal laws and regulations, strictly prohibits unlawful discrimination based on an individual’s gender (regardless of gender identity or gender expression), race, color, religion, creed, national origin, ancestry, age forty (40) years or older, marital status, disability, sexual orientation, genetic information, or other characteristics protected by law. Pursuant to City policy, sexual orientation means a person’s actual or perceived orientation toward heterosexuality, homosexuality, and bisexuality. The City also strictly prohibits unlawful harassment in the workplace, including sexual harassment. Further, the City strictly prohibits unlawful retaliation against a person who engages in protected activity. Protected activity includes an employee complaining that the employee has been discriminated against in violation of the above policy or participating in an employment discrimination proceeding. The Professional shall comply with the City’s policy for equal employment opportunity and prohibit unlawful discrimination, harassment and retaliation. This requirement also applies to all third-party subcontractors/subconsultants at every tier. 24. ADA and Public Accommodations. In performing the Services required hereunder, the Professional agrees to meet all requirements of the Americans with Disabilities Act of 1990, C.R.S. § 24-85-101, and all applicable rules and regulations (ADA), and all applicable Colorado public accommodation laws, which are imposed directly on the Professional or which would be imposed on the City as a public entity. 25. Technology Accessibility. The Professional represents that the Project Instruments hereunder, shall fully comply with all applicable provisions of C.R.S. § 24 -85-101, and the Accessibility Standards for Individuals with a Disability, as established by the State of Colorado Governor’s Office of Information Technology (OIT) pursuant to C.R.S. § 24-85-103 (2.5), including all updates and amendments to those standards as provided by the OIT. The Professional shall also comply with all State of Colorado technology standards related to technology accessibility and with Level AA of the most current version of the Web Content Accessibility Guidelines (WCAG), incorporated in the State of Colorado technology standards. To confirm that the Project Instruments meet these standards, the Professional may be required to demonstrate compliance.  The Professional shall indemnify, save, and hold harmless the City against any and all costs, expenses, claims, damages, liability, court awards and other amounts (including attorneys’ fees and related costs) incurred by the City in relation to the Professional’s failure to comply with C.R.S. § 24-85-101, or the Accessibility Standards for Individuals with a Disability as established by OIT pursuant to C.R.S. § 24-85-103 (2.5). Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 20 of 30 The City may require the Professional’s compliance to the State’s Accessibility Standards to be determined by a third party selected by the City to attest to the Project Instruments and software compliance with C.R.S. § 24-85-101, and the Accessibility Standards for Individuals with a Disability as established by OIT pursuant to C.R.S. § 24-85-103 (2.5). 26. Data Privacy. Professional will comply with all applicable data privacy regulations and laws, specifically including Colorado’s Privacy Act, C.R.S § 6-1-1301 (the Privacy Act). Professional shall ensure that each person processing any personal data connected to the Services is subject to a duty of confidentiality with respect to the data. If applicable, Professional shall require that any subcontractors meet the obligations of Professional with respect to any personal data connected to this Agreement. The Parties agree that upon termination of the Services that Professional shall, at the City’s choice, delete or return all personal data to the City unless retention of the personal data is required by law. Professional shall make available to the City all information necessary to demonstrate compliance with the obligations of the Privacy Act. Professional shall allow for, and contribute to, reasonable audits and inspections by the City or the City’s designated auditor. 27. Governmental Immunity Act. No term or condition of this Agreement shall be construed or interpreted as a waiver, express or implied, of any of the notices, requirements, immunities, rights, benefits, protections, limitations of liability, and other provisions of the Colorado Governmental Immunity Act, C.R.S. § 24-10-101, and under any other applicable law. 28. Colorado Open Records Act. Professional acknowledges that the City is a governmental entity subject to the Colorado Open Records Act, C.R.S. § 24-72-200, et seq. (CORA), and documents in the City’s possession may be considered public records subject to disclosure under the CORA. The parties agree that this Agreement and all incorporated Exhibits, unless specifically marked as Confidential, are considered public records under the CORA. 29. Delay. Time is of the essence. Subject to Force Majeure, if the Professional is temporarily delayed in whole or in part from performing its obligations, then the Professional shall provide written notice to the City within two (2) business days defining the nature of the delay. Provision of written notice under this Section shall not operate as a waiver of any rights or benefits provided to the City under this Agreement. 30. Force Majeure. No party hereto shall be considered in default in the performance of an obligation hereunder to the extent that performance of such obligation is delayed, hindered, or prevented by force majeure. Force majeure shall be any cause beyond the control of the party that could not reasonably have been foreseen and guarded against. Force majeure includes, but is not limited to, acts of God, fires, riots, pandemics, incendiarism, interference by civil or military authorities, compliance with regulations or orders of military authorities, and acts of war (declared or undeclared), provided the cause could not have been reasonably foreseen and guarded against by the affected party. Force majeure shall not include increases in labor, commodity, utility, material, supply, fuel, or energy costs, or compliance with regulations or orders of civil authorities. To the extent that the performance Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 21 of 30 is actually prevented, the Professional must provide notice to the City of such condition within ten (10) calendar days from the onset of the condition. 31. Special Provisions. Special provisions or conditions relating to the Services to be performed pursuant to this Agreement are set forth in Exhibit D - Confidentiality, consisting of four (4) pages incorporated herein. 32. Order of Precedence. In the event of a conflict or inconsistency within this Agreement, the conflict or inconsistency shall be resolved by giving preference to the documents in the following order of priority: a. The body of this Agreement (and any written amendment), b. Exhibits to this Agreement, and c. The Purchase Order document. 33. Prohibited Terms. Nothing in any Exhibit or other attachment shall be construed as a waiver of any provision above. Any terms included in any Exhibit or other attachment that requires the City to indemnify or hold Professional harmless; requires the City to agree to binding arbitration; limits Professional’s liability; or that conflicts with statute, City Charter or City Code in any way, shall be void. [Signature Page Follows] Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 22 of 30 THE CITY OF FORT COLLINS, COLORADO By: Gerry Paul Purchasing Director Date: ATTEST: APPROVED AS TO FORM: PROFESSIONAL'S NAME By: Printed: Title: Date: Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 23 of 30 EXHIBIT A SCOPE OF SERVICES Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 24 of 30 EXHIBIT B COMPENSATION The following pricing shall remain fixed for the initial term of this Agreement. Any applicable price adjustments may only be negotiated and agreed to in writing at the time of renewal. Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 25 of 30 EXHIBIT C INSURANCE REQUIREMENTS The Professional will provide, from insurance companies acceptable to the City, the insurance coverage designated hereinafter and pay all costs. Before commencing work under this bid, the Professional shall furnish the City with certificates of insurance showing the type, amount, class of operations covered, effective dates and date of expiration of policies. In case of the breach of any provision of the Insurance Requirements, the City, at its option, may take out and maintain, at the expense of the Professional, insurance as the City may deem proper and may deduct the cost of the insurance from any monies which may be due or become due the Professional under this Agreement. Insurance certificates should show the certificate holder as follows: City of Fort Collins Purchasing Division PO Box 580 Fort Collins, CO 80522 The City, its officers, agents and employees shall be named as additional insureds on the Professional's general liability and automobile liability insurance policies by marking the appropriate box or adding a statement to this effect on the certificate, for any claims arising out of work performed under this Agreement. Insurance coverages shall be as follows: A. Workers' Compensation & Employer's Liability. The Professional shall maintain Worker’s Compensation and Employer’s Liability insurance during the life of this Agreement for all of the Professional 's employees engaged in work performed under this Agreement. Workers' Compensation & Employer’s Liability insurance shall conform with statutory limits of $100,000 per accident, $500,000 disease aggregate, and $100,000 disease each employee, or as required by Colorado law. B. General Liability. The Professional shall maintain during the life of this Agreement General Liability insurance as will provide coverage for damage claims of personal injury, including accidental death, as well as for claims for property damage, which may arise directly or indirectly from the performance of work under this Agreement. Coverage for property damage shall be on a (broad form) basis. The amount of insurance for General Liability shall not be less than $1,000,000 combined single limits for bod ily injury and property damage. C. Automobile Liability. The Professional shall maintain during the life of this Agreement Automobile Liability insurance as will provide coverage for damage claims of personal injury, including accidental death, as well as for claims for property damage, which may arise directly or indirectly from the performance of work under this Agreement. Coverage for property damage shall be on a (broad form) basis. The amount of insurance for Automobile Liability shall not be less than $1,000,000 combined single limits for bodily injury and property damage. D. Errors and Omissions. The Professional shall maintain errors and omissions insurance in the amount of $1,000,000. Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 26 of 30 EXHIBIT D CONFIDENTIALITY IN CONNECTION WITH THE SERVICES to be provided by Professional under this Agreement, the parties agree to comply with reasonable policies and procedures with regard to the exchange and handling of confidential information and other sensitive materials between the parties, as set forth below. 1. Definitions. For purposes of this Agreement, the party who owns the referenced information and is disclosing same shall be referenced as the “Disclosing Party.” The party receiving the Disclosing Party’s information shall be referenced as the “Receiving Party.” 2. Confidential Information. Confidential Information controlled by this Agreement refers to information that is not public and/or is proprietary, including but not limited to location information, network security system, business plans, formulae, processes, intellectual property, trade secrets, designs, photographs, plans, drawings, schematics, methods, specifications, samples, reports, mechanical and electronic design drawings, customer lists, financial information, studies, findings, inventions, ideas, City customer identifiable information (including account, address, billing, consumption, contact, and other customer data), utility metering data, service billing records, customer equipment information. To the extent practical, Confidential Information shall be marked “Confidential” or “Proprietary.” Nevertheless, Professional shall treat as Confidential Information all customer identifiable information in any form, whether or not bearing a mark of confidentiality or otherwise requested by the City, including but not limited to the non-exclusive list of Confidential Information above. In the case of disclosure in non-documentary form of non- customer identifiable information, made orally or by visual inspection, the Disclosing Party shall have the right, or, if requested by the Receiving Party, the obligation to confirm in writing the fact and general nature of each disclosure within a reasonable time after it is made in order that it is treated as Confidential Information. Any information disclosed to the other party before the execution of this Agreement and related to the services for which Professional has been engaged shall be considered in the same manner and be subject to the same treatment as the information disclosed after the execution of this Agreement with regard to protecting it as Confidential Information. 3. Use of Confidential Information. Receiving Party hereby agrees that it shall use the Confidential Information solely for the purpose of performing its obligations under this Agreement and not in any way detrimental to Disclosing Party. Receiving Party agrees to use the same degree of care Receiving Party uses with respect to its own proprietary or confidential information, which in any event shall result in a reasonable standard of care to prevent unauthorized use or disclosure of the Confidential Information. Except as otherwise provided herein, Receiving Party shall keep confidential and not disclose the Confidential Information. The City and Professional shall cause each of their directors, officers, employees, agents, representatives, and subcontractors to become familiar with, and abide by, the terms of this Exhibit, which shall survive this Agreement as an on-going obligation of the Parties. Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 27 of 30 Professional shall not use such information to obtain any economic or other benefit for itself, or any third party, other than in the performance of obligations under this Agreement. 4. Exclusions from Definition. The term “Confidential Information” as used herein does not include any data or information which is already known to the Receiving Party or which before being divulged by the Disclosing Party: (a) was generally known to the public through no wrongful act of the Receiving Party; (b) has been rightfully received by the Receiving Party from a third party without restriction on disclosure and without, to the knowledge of the Receiving Party, a breach of an obligation of confidentiality; (c) has been approved f or release by a written authorization by the other party hereto; or (d) has been disclosed pursuant to a requirement of a governmental agency or by operation of law, subject to Paragraph 5 below. 5. Required Disclosure. Notwithstanding Paragraph 4(d) above, if the Receiving Party receives a request (by interrogatories, requests for information or documents, subpoena, civil investigative demand or similar process, or by federal, state, or local law, including without limit ation, the Colorado Open Records Act) to disclose any Confidential Information, the Parties agree the Receiving Party will provide the Disclosing Party with immediate notice of such request, so the Disclosing Party may seek an appropriate protective order before disclosure or waive the Receiving Party’s compliance with this Exhibit. The Receiving Party shall furnish a copy of this Exhibit with any disclosure. Notwithstanding this Paragraph 5, Receiving Party shall not disclose Confidential Information to any person, directly or indirectly, nor use it in any way, except as required by law or authorized in writing by Disclosing Party. 6. Red Flags Rules. If applicable, Professional must implement reasonable policies and procedures to detect, prevent and mitigate the risk of identity theft in compliance with the Identity Theft Red Flags Rules found at 16 Code of Federal Regulations part 681. Further, Professional must take appropriate steps to mitigate identity theft if it occurs with any of the City’s covered information and must notify the City in writing within twenty-four (24) hours of discovery of any breaches of security or Red Flags to the City. 7. Data Protection and Data Security. Professional shall have in place information security safeguards designed to conform to or exceed industry best practices regarding the protection of the confidentiality, integrity and availability of Confidential Information and shall have written agreements requirin g any subcontractor to meet those standards. These information security safeguards (the “Information Security Program”) shall be materially consistent with, or more stringent than, the safeguards described in this Exhibit. (a) Professional’s information security safeguards shall address the following elements: • Data Storage, Backups and Disposal • Logical Access Control (e.g., Role-Based) • Information Classification and Handling Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 28 of 30 • Secure Data Transfer (SFTP and Data Transfer Specification) • Secure Web Communications • Network and Security Monitoring • Application Development Security • Application Security Controls and Procedures (User Authentication, Security Controls, and Security Procedures, Policies and Logging) • Incident Response • Vulnerability Assessments • Hosted Services • Personnel Security (b) Subcontractors. Professional may use subcontractors, though such activity shall not release or absolve Professional from the obligation to satisfy all conditions of this Agreement, including the data security measures described in this Exhibit, and to require a substantially similar level of data security, appropriate to the types of services provided and Confidential Information received, for any subcontractor Professional may use. Accordingly, any release of data, confidential information, or failure to protect information under this Agreement by a subcontractor or affiliated party shall be attributed to Professional and may be considered to be a material breach of this Agreement. 8. Information Storage. Confidential Information is not to be stored on any local workstation, laptop, or media such as CD/DVD, USB drives, external hard drives or other similar portable devices unless the Professional can ensure security for the Confidential Information so stored. Workstations or laptops to be used in the Services will be required to have personal firewalls on each, as well as have current, active anti-virus definitions. 9. Continuing Obligation. The agreement not to disclose Confidential Information as set forth in this Exhibit shall apply during the term of the Services and or Agreement and at any time thereafter unless specifically authorized by the City in writing. 10. Termination Remedy. If Professional breaches any of the terms of this Exhibit, in the City’s sole discretion, the City may immediately terminate this Agreement and withdraw Professional’s right to access Confidential Information. 11. Return of Information. Notwithstanding any other provision of this Agreement to provide Project Instruments and work product, all material, i.e., various physical forms of media in which Confidential Information is stored, including but not limited to writings, drawings, tapes, diskettes, prototypes or products, shall remain the sole property of the Disclosing Party and, upon request, shall be promptly returned, together with all copies thereof to the Disclosing Party. Upon return of such materials, all digital and electronic data shall also be deleted in a non-restorable way by which it is no longer available to the Receiving Party. Upon Disclosing Party’s request, written verification of the deletion (including date of deletion) is to be provided to the Disclosing Party within ten (10) days after completion of engagement, whether it be via termination, completion or otherwise. 12. Injunctive Relief. Professional Receiving Party acknowledges that the Disclosing Party may, based upon the representations made in this Agreement, disclose security information that is Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 29 of 30 critical to the continued success of the Discloser’s business. Accordingly, Receiving Party agrees that the Disclosing Party does not have an adequate remedy at law for breach of this Agreement and therefore, the Disclosing Party shall be entitled, as a non-exclusive remedy, and in addition to an action for damages, to seek and obtain an injunction or decree of specific performance or any other remedy, from a court of competent jurisdiction to enjoin or remedy any violation of this Agreement Official Purchasing Document Last updated 4/2025 Professional Services Agreement 10168 – Consulting Services – Utility Financial Planning Page 30 of 30