HUD's $2.27M Claims Review Contract Awarded to Key & Associates PC Under Full and Open Competition
Contract Overview
Contract Amount: $2,271,394 ($2.3M)
Contractor: KEY & Associates PC
Awarding Agency: Department of Housing and Urban Development
Start Date: 2012-09-30
End Date: 2017-09-29
Contract Duration: 1,825 days
Daily Burn Rate: $1.2K/day
Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Number of Offers Received: 6
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: CONTRACTOR SUPPORT IN THE CLAIMS REVIEW AND SETTLEMENT PROCESS
Place of Performance
Location: SILVER SPRING, MONTGOMERY County, MARYLAND, 20910
State: Maryland Government Spending
Plain-Language Summary
Department of Housing and Urban Development obligated $2.3 million to KEY & ASSOCIATES PC for work described as: CONTRACTOR SUPPORT IN THE CLAIMS REVIEW AND SETTLEMENT PROCESS Key points: 1. The contract, valued at $2.27 million, was awarded to Key & Associates PC. 2. Competition was conducted under 'Full and Open Competition After Exclusion of Sources'. 3. The contract duration was 1825 days, ending in September 2017. 4. The NAICS code 541211 indicates services related to Offices of Certified Public Accountants. 5. The contract type was Firm Fixed Price, suggesting predictable costs.
Value Assessment
Rating: fair
The contract value of $2.27 million over five years suggests a moderate annual spend. Benchmarking against similar contracts for claims review and settlement services would be necessary to assess if this pricing is competitive.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under 'Full and Open Competition After Exclusion of Sources'. While this indicates competition, the specific reason for excluding sources needs further investigation to understand its impact on price discovery.
Taxpayer Impact: The total value of $2.27 million represents taxpayer funds allocated for claims processing. The effectiveness of the competition method in securing the best value for taxpayers is a key consideration.
Public Impact
Ensures efficient processing of claims for housing programs. Supports the Department of Housing and Urban Development's mission. Provides specialized accounting services for financial settlements. Potential impact on beneficiaries awaiting claim resolutions.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Reason for 'Exclusion of Sources' in competition needs clarification.
- Lack of small business participation noted.
Positive Signals
- Firm Fixed Price contract provides cost certainty.
- Long-term contract (5 years) suggests stability and potential for efficiency gains.
Sector Analysis
This contract falls within the professional services sector, specifically accounting and auditing services. Spending benchmarks for similar government contracts in this area would help assess value for money.
Small Business Impact
The data indicates that small business participation was not a factor in this contract award (ss: false, sb: false). Further analysis would be needed to determine if opportunities were missed for small businesses in this procurement.
Oversight & Accountability
The contract was awarded by the Department of Housing and Urban Development, implying internal oversight. However, the specific oversight mechanisms and accountability measures for this contract are not detailed in the provided data.
Related Government Programs
- Offices of Certified Public Accountants
- Department of Housing and Urban Development Contracting
- Department of Housing and Urban Development Programs
Risk Flags
- Lack of small business participation.
- Ambiguity in competition method ('Exclusion of Sources').
- Need for cost-effectiveness benchmarking.
- Potential for unaddressed conflicts of interest if source exclusion was not justified.
Tags
offices-of-certified-public-accountants, department-of-housing-and-urban-developm, md, definitive-contract, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of Housing and Urban Development awarded $2.3 million to KEY & ASSOCIATES PC. CONTRACTOR SUPPORT IN THE CLAIMS REVIEW AND SETTLEMENT PROCESS
Who is the contractor on this award?
The obligated recipient is KEY & ASSOCIATES PC.
Which agency awarded this contract?
Awarding agency: Department of Housing and Urban Development (Department of Housing and Urban Development).
What is the total obligated amount?
The obligated amount is $2.3 million.
What is the period of performance?
Start: 2012-09-30. End: 2017-09-29.
What was the specific justification for excluding sources in the 'Full and Open Competition After Exclusion of Sources' method, and how did this impact the final price?
The justification for excluding sources is critical. If sources were excluded for non-essential reasons, it could limit competition and potentially lead to higher prices. Conversely, if exclusions were based on specific technical requirements or past performance, it might have been necessary to ensure contract success. Understanding this rationale is key to assessing the fairness of the procurement process and its impact on taxpayer value.
How does the per-unit cost of claims processed under this contract compare to industry benchmarks or historical HUD data?
Benchmarking the per-unit cost of claims processed is essential for evaluating the contract's value. Without this comparison, it's difficult to determine if Key & Associates PC provided services at a competitive rate. A thorough analysis would involve comparing these costs against similar government contracts and private sector rates to identify any significant deviations that might indicate overspending or exceptional efficiency.
What mechanisms were in place to ensure the quality and effectiveness of the claims review and settlement services provided by Key & Associates PC?
Effective oversight mechanisms are crucial for ensuring that contractor services meet government standards and deliver intended outcomes. This includes performance metrics, regular reviews, and clear communication channels. Understanding these processes would help assess the overall effectiveness of the contract in achieving HUD's objectives and protecting taxpayer interests.
Industry Classification
NAICS: Professional, Scientific, and Technical Services › Accounting, Tax Preparation, Bookkeeping, and Payroll Services › Offices of Certified Public Accountants
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › ADMINISTRATIVE SUPPORT SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES
Solicitation Procedures: NEGOTIATED PROPOSAL/QUOTE
Solicitation ID: DU100R-12-R-0002
Offers Received: 6
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 8630 FENTON ST STE 316, SILVER SPRING, MD, 20910
Business Categories: 8(a) Program Participant, Black American Owned Business, Category Business, Corporate Entity Not Tax Exempt, DoT Certified Disadvantaged Business Enterprise, Minority Owned Business, Self-Certified Small Disadvantaged Business, Small Business, Small Disadvantaged Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business, Woman Owned Business, Women Owned Small Business
Financial Breakdown
Contract Ceiling: $2,271,394
Exercised Options: $2,271,394
Current Obligation: $2,271,394
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Timeline
Start Date: 2012-09-30
Current End Date: 2017-09-29
Potential End Date: 2017-09-29 00:00:00
Last Modified: 2026-01-29
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