3-JM26-71 Quote Redacted.pdf

This is an annual contract adjustment notice from the State of Utah's Revenue Accounting division regarding State of Utah Contract 236343, dated February 17, 2026. The document confirms that an annual review of the Consumer Price Index (CPI), as published by the U.S. Department of Labor and specified in the existing contract terms, has been completed. The notice transmits a worksheet to the contractor detailing the fee adjustments resulting from the CPI analysis, which will be applied to the contract rates going forward.

The adjustment reflects the standard escalation mechanism built into Contract 236343 to account for inflationary changes in the cost of living. No specific adjustment amounts are provided in the letter itself, as those calculations are contained in the enclosed worksheet. The State of Utah's Division of Purchasing determined that amending the existing contract to increase funds based on the CPI adjustment was appropriate, rather than pursuing a new competitive procurement, likely citing transitional costs or the single-source nature of the incumbent contractor as justification for proceeding without a standard procurement process.