Contract Information

Summary

Agency Name: DEPARTMENT OF FINANCIAL SERVICES	Agency Contract ID: I0043
Long Title: Purchase Order #432 - Pinnacle Actuarial Resources, Inc	Vendor Name: PINNACLE ACTUARIAL RESOURCES, I
Total Contract Amount: $111,730.00	Total Budgetary Amount: $111,730.00
Total Payment To Date: $105,917.50	Date of Execution: 09/10/2013
General Description: A Purchase Order is created when a Professional Service Agreement is executed between a vendor/contractor and the Office of Insurance Regulation (OIR) that describes the engagement of an individual or company to render professional services with respect to examining insurance entities regulated by the OIR. The agreement establishes protocol along with setting the terms, cost and conditions for the examination services. The costs of examinations vary depending on the complexity of the issues, size of the company, frequency of the examinations and risk factors.

Details
Deliverables
Payments
Documents
Audits

Main Information

Agency Contract ID: I0043

FLAIR Contract ID: I0043

Short Title: PO#432

Long Title: Purchase Order #432 - Pinnacle Actuarial Resources, Inc

Contract Type: Standard Two Party Agreement by Statute

Contract Status: Closed or Expired

Date of Execution: 09/10/2013

Date of Beginning: 09/27/2013

Original End Date: 09/27/2014

New Ending Date:

Agency Service Area: P&C

Statutory Authority: F.S. 624.316 & Rule 69O-138.005, F.A.C.

Contract Involves State or Federal Financial Assistance: No

Recipient Type:

Provide for Administrative Cost: No

Provide for Periodic Increase: No

Procurement Information

Authorized Advanced Payment: No

Method of Procurement: No Cost Procurement

State Term Contract ID:

Contract’s Exemption Justification: Pursuant to Section 624.319, Florida Statutes, specifically paragraph (3)(a)1, Examination reports, until filed, are confidential and exempt from s. 119.07(1).

Agency Reference Number:

Business Case Study Done: No

Legal Challenges to Procurement: No

Outsourcing / Capital Improvements

Was the Contracted Function Previously Performed by the State: Yes

Was the Contracted Function Considered for Insourcing back to the State: No

Did the Vendor Make Capital Improvements on State Property: No

Budget Information

Original Contract Amount: $22,490.00

Total Contract Amount: $111,730.00

Total Recurring Budgetary Amount: $0.00

Total Non-Recurring Budgetary Amount: $111,730.00

Total Budgetary Amount: $111,730.00

Total Unfunded Amount: $0.00

As of Date: 3/17/2014

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No Recurring Budgetary records found for this contract.

Non-Recurring Budgetary Amount	Account Code	Fiscal Year Effective Date	FY	Agency Amendment Reference
$71,700.00	43-10-2-393001-43900110-00-100523-00	03/17/2014	2013-2014	I0043 A2
$17,540.00	43-10-2-393001-43900110-00-100523-00	11/25/2013	2013-2014	I0043-A1
$22,490.00	43-10-2-393001-43900110-00-100523-00	10/24/2013	2013-2014

Contract Change

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Change Type	Amendment Amount	Agency Amendment Reference	Change Description	Amendment Effective Date	Amendment Execution Date
Amendment	$71,700.00	I0043 A2	Amendment#2	03/12/2014	03/12/2014
Amendment	$0.00	I0043	duplicate record created in error	11/25/2013	11/25/2013
Amendment	$17,540.00	I0043-A1	Amendment 1	11/25/2013	11/25/2013

Vendor

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Name Line 1	Name Line 2	City State Zip	Minority Vendor Designation
PINNACLE ACTUARIAL RESOURCES, I		BLOOMINGTON IL 617040000	Non-Minority

CFDA

No CFDA Codes found for the contract.

CSFA

No CSFA Codes found for the contract.

Expand All Deliverables Download Deliverables

Deliverable Number

Commodity/Service Type

Major Deliverable

Method of Payment

INSURANCE CONSULTANT SERVICES

Contracted roles as found in the scope of work. Hourly rates are confidential: 1) Principal 2) Consu...

Fixed Fee / Unit Rate

Major Deliverable: Contracted roles as found in the scope of work. Hourly rates are confidential: 1) Principal 2) Consultant 3) Analyst 4)Technician 5)Clerical and 6)Peer Review. A Professional Services Agreement (PSA) (boilerplate) is executed between a vendor/contractor and the Office of Insurance Regulation (OIR) that describes the engagement of an individual or company to render professional services with respect to examining insurance entities regulated by the OIR. A purchase order is created when a Scope of Services Addendum is executed between a vendor/contractor and the Office of Insurance Regulation (OIR). The scope of services addendum establishes protocol along with setting the terms, cost and conditions for the examination services. The costs of examinations vary depending on the complexity of the issues, size of the company, frequency of the examinations and risk factors. The scope of services indicates the deliverables and rates. Any and all information regarding the hourly rates is considered confidential.

Deliverable Price: $0.00

Non Price Justification: Rate Agreement

Performance Metrics: Statistical Reports generated as needed.

Financial Consequences: 10% Hold Back Fee withheld from each invoice presented for payment.

Source Documentation Page Reference:

Deliverable Number:

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Payments are also referred to as expenditures (creating or incurring a legal obligation to disburse money) or disbursements (the payment of expenditures). Payments include disbursements and accounting adjustments made on a contract. Payments are always positive amounts while accounting adjustments may be positive or negative depending on the type of adjustment.

Payment Details

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"Date" in the listing below indicates the date the payment voucher was recorded in the system, not the date the payment was issued.

Fiscal Year

Total Amount

2014-2015

$65,887.50

2013-2014

$40,030.00

If a payment or adjustment to a contract was made before July 1, 2012, the information may not be posted in this system.

Contract Documents

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Document Type	Document Reference #	Executed Date	Document Add Date
Original Contract	Original Contract - I0043	09/10/2013	10/24/2013 4:14:18 PM
Procurement	Original Contract - I0043		10/24/2013 4:15:51 PM
Amendment	I0043	11/25/2013	1/21/2014 12:31:43 PM
Amendment	I0043 A2	03/12/2014	3/17/2014 5:33:41 PM

Audit results posted prior to June 30, 2012, appear in a summarized form. As of July 1, 2012, the audit reporting process was expanded to include additional questions and comments from the Bureau of Auditing. As audits are captured in electronic format, they will be posted to this system. If you are interested in seeing audit reports by Fiscal Year and Agency Action Plans, please click here to navigate to the Transparency Florida Contract Audit page.

No audits have been conducted on this contract at this time.

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Florida Department of Financial Services: F.A.C.T.S