Treasury's $4M Contract for Other Accounting Services Awarded to FI Consulting, Inc
Contract Overview
Contract Amount: $4,049,633 ($4.0M)
Contractor: FI Consulting, Inc.
Awarding Agency: Department of the Treasury
Start Date: 2023-09-01
End Date: 2027-02-28
Contract Duration: 1,276 days
Daily Burn Rate: $3.2K/day
Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Number of Offers Received: 1
Pricing Type: LABOR HOURS
Sector: Other
Official Description: RESEARCH CONSULTING SERVICES
Place of Performance
Location: ARLINGTON, ARLINGTON County, VIRGINIA, 22209
State: Virginia Government Spending
Plain-Language Summary
Department of the Treasury obligated $4.0 million to FI CONSULTING, INC. for work described as: RESEARCH CONSULTING SERVICES Key points: 1. Contract awarded to FI Consulting, Inc. for Other Accounting Services. 2. The contract value is $4,049,633.32. 3. The contract was awarded under full and open competition. 4. The period of performance is from September 1, 2023, to February 28, 2027. 5. This contract falls under the 'Other Accounting Services' NAICS code (541219).
Value Assessment
Rating: good
The contract value of $4,049,633.32 over nearly 4.5 years suggests a moderate annual spend. Benchmarking against similar 'Other Accounting Services' contracts would be necessary for a precise pricing assessment.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded through 'FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES'. This method aims to ensure fair pricing by allowing multiple vendors to bid, though the exclusion of sources might slightly limit the competitive pool.
Taxpayer Impact: The use of full and open competition generally leads to better value for taxpayers by fostering a competitive bidding environment.
Public Impact
Taxpayers benefit from competitive bidding processes that aim to secure fair pricing. The Bureau of the Fiscal Service receives essential accounting services to support its operations. The contract duration of over four years provides stability for service delivery. The award to FI Consulting, Inc. supports a private sector entity providing government services.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for limited competition due to 'exclusion of sources' clause.
- Lack of specific performance metrics or KPIs in provided data.
- No indication of small business participation.
Positive Signals
- Awarded under full and open competition.
- Clear contract duration and value.
- Services align with agency needs.
Sector Analysis
This contract for 'Other Accounting Services' falls within the professional services sector. Government spending in this area is crucial for financial management and regulatory compliance. Benchmarks for similar services vary widely based on scope and complexity.
Small Business Impact
The provided data indicates that this contract was not awarded to a small business (ss: false, sb: false). Further analysis would be needed to determine if small business subcontracting opportunities were included or pursued.
Oversight & Accountability
The award process under 'full and open competition after exclusion of sources' suggests a structured procurement. Oversight would involve monitoring contract performance, adherence to terms, and financial accountability by the Bureau of the Fiscal Service.
Related Government Programs
- Other Accounting Services
- Department of the Treasury Contracting
- Bureau of the Fiscal Service Programs
Risk Flags
- Potential for limited competition due to 'exclusion of sources'.
- No specific performance metrics provided.
- No indication of small business participation.
- Contract duration is relatively long (over 4 years).
Tags
other-accounting-services, department-of-the-treasury, va, delivery-order, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Treasury awarded $4.0 million to FI CONSULTING, INC.. RESEARCH CONSULTING SERVICES
Who is the contractor on this award?
The obligated recipient is FI CONSULTING, INC..
Which agency awarded this contract?
Awarding agency: Department of the Treasury (Bureau of the Fiscal Service).
What is the total obligated amount?
The obligated amount is $4.0 million.
What is the period of performance?
Start: 2023-09-01. End: 2027-02-28.
What specific accounting services are being provided under this contract, and how do they align with the Bureau of the Fiscal Service's core mission?
The contract is categorized under 'Other Accounting Services' (NAICS 541219). While specific details are not provided, these services typically encompass a broad range of financial support, including accounting system management, financial reporting, auditing support, and compliance assistance. These are critical for the Bureau of the Fiscal Service's role in managing federal finances and ensuring fiscal responsibility.
What is the rationale behind the 'exclusion of sources' in the full and open competition, and what impact did it have on the final price?
The 'exclusion of sources' implies that certain potential bidders were not considered, possibly due to specific qualifications, past performance, or security requirements. While the competition was 'full and open' among the remaining eligible sources, this exclusion could have limited the number of bids received, potentially impacting the final price discovery and the overall competitiveness achieved.
How will the effectiveness and value of FI Consulting, Inc.'s services be measured throughout the contract period?
The provided data does not specify performance metrics or key performance indicators (KPIs) for this contract. Effective oversight by the Bureau of the Fiscal Service would involve establishing clear deliverables, quality standards, and regular performance reviews to ensure that FI Consulting, Inc. is providing valuable and effective accounting services as per the contract's requirements.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Accounting, Tax Preparation, Bookkeeping, and Payroll Services › Other Accounting Services
Product/Service Code: SPECIAL STUDIES/ANALYSIS, NOT R&D › SPECIAL STUDIES - NOT R and D
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Offers Received: 1
Pricing Type: LABOR HOURS (Z)
Evaluated Preference: NONE
Contractor Details
Address: 1500 WILSON BLVD, ARLINGTON, VA, 22209
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Small Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $4,635,151
Exercised Options: $4,054,633
Current Obligation: $4,049,633
Actual Outlays: $3,005,713
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES PROCEDURES NOT USED
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: GS00Q14OADS204
IDV Type: IDC
Timeline
Start Date: 2023-09-01
Current End Date: 2027-02-28
Potential End Date: 2027-02-28 00:00:00
Last Modified: 2026-01-21
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