TO: AC Transit Board of Directors
FROM: Michael A. Hursh, General Manager/Chief Executive Officer
SUBJECT: Extension of Cash Revenue Service Contract
ACTION ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider authorizing the General Manager to enter into a contract extension with Brink's for up to an additional six months for cash revenue collection services from January 1, 2025, through June 30, 2025.
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
Continued efficient collection and deposit of cash revenues is critical to the District's overall business operations.
BUDGETARY/FISCAL IMPACT:
The estimated value of the contract extension from January 1, 2025, through June 30, 2025, is approximately $297,078. The funding is included in the District's Operating Budget.
BACKGROUND/RATIONALE:
Under the current Armored Car Transportation and Money Processing Service Contract (contract 2019-1462), Brink's provides the District with consolidated armored car transportation services and processing of cash fare revenue. In connection with the performance of service under the contract, the Contractor is required to use armored vault transfer vehicles to pick up and transport daily transit cash fare revenue and to provide complete money processing services. Staff is in the process of analyzing the current process and working with the vendor to identify potential cost saving measures, including but not limited to, changes to the frequency of pick-ups of cash revenue. The current contract with Brink's expires on December 31, 2024. The analysis has delayed development of a solicitation which necessitates a contract extension to cover these essential services.
ADVANTAGES/DISADVANTAGES:
Extending the Armored Car Transportation and Money Processing Service Contract through the end of June 2025, will al...
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