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(1) The mayor for Jefferson City has requested a cost-benefit analysis. In short

(1) The mayor for Jefferson City has requested a cost-benefit analysis. In short, she wants to know if the city can save money by using outside security vendors for public events held at the city’s convention center. The city manager has appointed you, the budget analyst, to conduct the analysis. Your analysis should provide three alternatives. The first alternative should provide the data for the cities’ police department and the latter two alternatives should be estimates from two private companies (Security One and First Line Security). Since private companies are considered in this example, the budget should be primarily limited to personnel and operating costs. Below is a list of information that you should use when conducting your analysis. When you complete your analysis, make a recommendation to Mayor McClain. You are free to write your analysis in any form that you choose as long as you consider the information that is provided below. Last, in addition to what the city spent, you must create a budget for the remaining vendors.The city spent $1,250,000 in salary and benefits last year (police department) for security at the convention center for thirty-five events.The events averaged 25,000 people. A total of fifty-five officers were used, on average, for each event. The convention center has a main security office that requires three persons to be on duty at all times. There are eight points of entry that require an armed security guard. The events averaged five hours in length.Security One has contracted with the city in the past (four years) with fairly good evaluation scores on customer service. They have forty security officers who are trained in CPR and paramedic skills, with an average tenure of six years. Thirty-five of the officers are registered to carry weapons. They have four staff members with at least one person on duty at all times. Their main office is not in the downtown area.First Line Security is a new company that was started by the previous police chief. They have fifty security officers with an average tenure of ten years of experience and five staff members. They have an office downtown near the areas where events tend to occur (open twenty-four hours per day). They have managed two large events thus far with few problems. They received high evaluation scores on both events. In addition, their fees tend to be slightly less than the competition for the same services. Items to Consider: The “Benefits” section of your analysis could include: educational levels of security officers, certifications (diversity training, CPR, etc.), length of experience, permits (handgun, etc.), age; age of company, clientele list, work history of company, number and type of security vehicles; and expected length of the security contract. Also, note that the contractors are completely responsible and liable for their employees and any incidents that may occur (i.e., employee insurance; contractor must be bonded, etc.). In addition to the above items, you should consider speaking with a security or police department to see what additional items should be included in your proposal. It is not necessary to include every possible detail in your cost, but try to be holistic in your categories so as to keep your budget succinct.(3) Jefferson City has decided to build a downtown parking garage to house the city’s employee vehicles. Since the city has to demolish several buildings on the site, the project will take five years to complete. The city expects to save $35,000 a year in parking vouchers once the project is completed. Using a 5 percent discount rate, determine the present value (PV) of the $35,000 savings at the end of the five-year period (see appendix 6A). The book we use is, The Basics of Public Budgeting and Financial Management, 2nd edition, Menifield, Charles E., ISBN: 978-0-7618-6141-6