RENEWAL NOTICE IDFPR Cost Allocation Study

The Illinois Department of Financial and Professional Regulation (IDFPR) is exercising the remaining six (6) optional years on their Cost Allocation contract with the vendor, MGT of America Consulting, LLC. The contract provides for the development of a direct and indirect cost analysis for each Fiscal Year based on actual costs from the prior Fiscal Year(s), including developing financial data, salary and wage analysis, and recommendations. The initial contract term was 3 years covering FY18, FY19, and FY20, and the agency is exercising 6 optional renewal years from FY22 through FY27, for a total contract value of $96,000. The contract pricing for the optional renewal years ranges from $15,000 to $18,000 per year. The contract was awarded to the lowest responsive and responsible bidder through the Invitation for Bid process.

The contract award includes a 5% participation goal for the Business Enterprise Program (BEP), with $6,700 or 5% of the total award amount being allocated to the certified BEP firm Velma Butler and Company, Ltd. There was 1 unsuccessful bidder for this contract. No estimated financial return to the state or estimated gross revenue to the vendor is provided. This contract does not have any set-aside designations or restrictions on the types of organizations that can respond, and there is no information provided on any existing incumbent vendors or current contractors, or any existing infrastructure or technology that requires integration.