Treasury's $76M Contract for Global Financial Policy Advice Faces Scrutiny Amidst Undisclosed Awardees

Contract Overview

Contract Amount: $76,052 ($76.1K)

Contractor: Domestic Awardees (undisclosed)

Awarding Agency: Department of the Treasury

Start Date: 2022-11-14

End Date: 2026-11-13

Contract Duration: 1,460 days

Daily Burn Rate: $52/day

Competition Type: FULL AND OPEN COMPETITION

Number of Offers Received: 10

Pricing Type: COST NO FEE

Sector: Other

Official Description: PERSONAL SERVICES CONTRACT TO PROVIDE WORLDWIDE STRATEGIC AND TECHNICAL ADVICE FOR DEVELOPMENT OF FINANCIAL POLICIES, GOVERNMENT INFRASTRUCTURES, PRIVATE FINANCIAL INSTITUTIONS, AND REHABILITATION OF FINANCIAL SECTORS.

Plain-Language Summary

Department of the Treasury obligated $76,052.4 to DOMESTIC AWARDEES (UNDISCLOSED) for work described as: PERSONAL SERVICES CONTRACT TO PROVIDE WORLDWIDE STRATEGIC AND TECHNICAL ADVICE FOR DEVELOPMENT OF FINANCIAL POLICIES, GOVERNMENT INFRASTRUCTURES, PRIVATE FINANCIAL INSTITUTIONS, AND REHABILITATION OF FINANCIAL SECTORS. Key points: 1. The contract aims to provide strategic and technical advice for developing financial policies and infrastructure globally. 2. Awardee information is undisclosed, raising questions about transparency and potential conflicts of interest. 3. The contract's broad scope covers government, private institutions, and sector rehabilitation, indicating significant potential impact. 4. Competition was listed as 'full and open,' but the lack of disclosed awardees makes verification difficult.

Value Assessment

Rating: questionable

The contract value of $76,052.4 is relatively low for a multi-year, worldwide strategic advisory role. Benchmarking is difficult without knowing the specific deliverables and the expertise required. The 'Cost No Fee' pricing structure warrants closer examination to ensure cost control.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under full and open competition. However, the specific awardees are undisclosed, which limits the ability to assess the competitive landscape and the effectiveness of the price discovery process. This lack of transparency is a concern.

Taxpayer Impact: Taxpayer funds are being used to procure high-level financial advisory services. While the goal is to improve financial systems, the lack of transparency regarding awardees and the specific outcomes makes it difficult to assess the value for money.

Public Impact

Potential impact on international financial policy development and stability. Concerns regarding the transparency of government contracting processes. Questions about the effective use of taxpayer funds for global financial advice. Implications for the rehabilitation and strengthening of financial sectors in various countries.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Undisclosed awardees hinder transparency and accountability.
Lack of clear performance metrics makes value assessment difficult.
Potential for scope creep given the broad nature of the services.

Positive Signals

Aims to address critical global financial policy needs.
Utilizes a full and open competition process, in principle.
Long-term contract duration allows for sustained strategic engagement.

Sector Analysis

This contract falls within the professional services sector, specifically focusing on financial consulting and policy development. Benchmarking is challenging due to the unique nature of strategic international financial advice, but typical contracts of this type can range significantly in value depending on scope and duration.

Small Business Impact

The data indicates that the awardees were domestic but does not specify if they were small businesses. Given the nature of strategic and technical advice for financial policies, it is likely that larger, specialized firms were involved, potentially limiting small business participation.

Oversight & Accountability

The Department of the Treasury is responsible for this contract. Oversight should focus on ensuring the undisclosed awardees deliver on the contract's objectives effectively and efficiently, and that the 'Cost No Fee' structure is managed appropriately to prevent cost overruns.

Related Government Programs

International Affairs
Department of the Treasury Contracting
Departmental Offices Programs

Risk Flags

Lack of transparency regarding awardees.
Potential for undisclosed conflicts of interest.
Difficulty in assessing value for money due to limited information.
Effectiveness of 'Cost No Fee' structure without clear performance metrics.
Broad scope may lead to challenges in defining and measuring success.

Frequently Asked Questions

What is this federal contract paying for?

Department of the Treasury awarded $76,052.4 to DOMESTIC AWARDEES (UNDISCLOSED). PERSONAL SERVICES CONTRACT TO PROVIDE WORLDWIDE STRATEGIC AND TECHNICAL ADVICE FOR DEVELOPMENT OF FINANCIAL POLICIES, GOVERNMENT INFRASTRUCTURES, PRIVATE FINANCIAL INSTITUTIONS, AND REHABILITATION OF FINANCIAL SECTORS.

Who is the contractor on this award?

The obligated recipient is DOMESTIC AWARDEES (UNDISCLOSED).

Which agency awarded this contract?

Awarding agency: Department of the Treasury (Departmental Offices).

What is the total obligated amount?

The obligated amount is $76,052.4.

What is the period of performance?

Start: 2022-11-14. End: 2026-11-13.

What specific deliverables and expected outcomes are associated with this $76,052.4 contract for worldwide strategic and technical advice?

The contract aims to provide advice on financial policies, government infrastructures, private financial institutions, and financial sector rehabilitation. However, the specific deliverables and measurable outcomes are not detailed in the provided data. Further inquiry into the contract's statement of work is needed to understand the precise objectives and how success will be measured, especially given the 'Cost No Fee' arrangement.

How does the 'Cost No Fee' pricing structure ensure cost-effectiveness and prevent potential overruns for this advisory contract?

The 'Cost No Fee' (CNF) structure typically means the contractor is reimbursed for allowable costs but receives no fee or profit. This incentivizes cost control by the contractor. However, effective oversight is crucial to ensure that only necessary and reasonable costs are incurred and that the contractor remains motivated to deliver high-quality advice without profit.

What mechanisms are in place to ensure accountability and transparency when the awardees for this international financial policy contract are undisclosed?

The lack of disclosed awardees presents a significant challenge to accountability and transparency. While the contract was awarded under full and open competition, the agency should provide justification for withholding awardee information. Robust internal controls, performance monitoring, and regular reporting on contract progress and outcomes are essential to mitigate the risks associated with this lack of public visibility.

Industry Classification

NAICS: Public Administration › National Security and International Affairs › International Affairs

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › PROFESSIONAL SERVICES

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION

Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE

Solicitation ID: 2032K822R00003

Offers Received: 10

Pricing Type: COST NO FEE (S)

Evaluated Preference: NONE

Contractor Details

Address: 1800 F ST NW, WASHINGTON, DC, 20405

Business Categories: Category Business, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $177,138

Exercised Options: $100,529

Current Obligation: $76,052

Actual Outlays: $45,158

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED

Cost or Pricing Data: NO

Timeline