Treasury's Fiscal Service Awards $9.17M Contract to Coast Professional for Collection Services
Contract Overview
Contract Amount: $9,172,624 ($9.2M)
Contractor: Coast Professional, Inc.
Awarding Agency: Department of the Treasury
Start Date: 2024-02-18
End Date: 2025-11-17
Contract Duration: 638 days
Daily Burn Rate: $14.4K/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 1
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: PCA SERVICES BRIDGE CONTRACT COAST PROFESSIONAL
Place of Performance
Location: GENESEO, LIVINGSTON County, NEW YORK, 14454
State: New York Government Spending
Plain-Language Summary
Department of the Treasury obligated $9.2 million to COAST PROFESSIONAL, INC. for work described as: PCA SERVICES BRIDGE CONTRACT COAST PROFESSIONAL Key points: 1. The contract, valued at $9.17 million, is for collection agency services. 2. Coast Professional, Inc. is the sole awardee under a full and open competition. 3. The contract duration is 638 days, ending in November 2025. 4. The pricing structure is Firm Fixed Price. 5. This award falls under the Collection Agencies NAICS code (561440).
Value Assessment
Rating: good
The contract uses a Firm Fixed Price structure, which is standard for collection services. The awarded amount appears reasonable given the duration and service type, but a direct comparison to similar contracts would be needed for a definitive assessment.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded through full and open competition, suggesting a competitive bidding process. This method generally promotes price discovery and ensures fair market value is obtained.
Taxpayer Impact: The use of a competitive process aims to secure efficient collection services, potentially leading to cost savings for taxpayers through effective debt recovery.
Public Impact
Ensures continued government debt collection services. Supports the Bureau of the Fiscal Service's mission to manage federal finances. Provides a mechanism for recovering delinquent government debts.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for performance variability in debt collection rates.
- Reliance on a single contractor for a critical function.
Positive Signals
- Awarded via full and open competition.
- Firm Fixed Price contract type provides cost certainty.
- Clear performance period with defined end date.
Sector Analysis
The collection agency sector is crucial for government revenue recovery. Spending in this sector can fluctuate based on economic conditions and government debt levels. Benchmarks are difficult without specific service details, but competition is key to efficiency.
Small Business Impact
The data does not indicate if small businesses were involved in the competition or subcontracting. Further analysis would be needed to determine small business participation.
Oversight & Accountability
The Bureau of the Fiscal Service is responsible for overseeing this contract. Standard oversight mechanisms for performance, financial management, and compliance are expected to be in place.
Related Government Programs
- Collection Agencies
- Department of the Treasury Contracting
- Bureau of the Fiscal Service Programs
Risk Flags
- Contract performance risk
- Potential for disputes over collection practices
- Reliance on contractor's financial stability
- Effectiveness of debt recovery
Tags
collection-agencies, department-of-the-treasury, ny, delivery-order, 1m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Treasury awarded $9.2 million to COAST PROFESSIONAL, INC.. PCA SERVICES BRIDGE CONTRACT COAST PROFESSIONAL
Who is the contractor on this award?
The obligated recipient is COAST PROFESSIONAL, 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 $9.2 million.
What is the period of performance?
Start: 2024-02-18. End: 2025-11-17.
What is the expected recovery rate or efficiency metric for this contract?
The specific recovery rate or efficiency metric is not detailed in the provided data. This information would typically be outlined in the contract's statement of work and performance standards. Understanding these metrics is crucial for evaluating the contract's value and effectiveness in collecting delinquent government debts.
What are the key performance indicators (KPIs) used to measure Coast Professional's success?
Key performance indicators are not explicitly stated in the provided summary. Typically, for collection services, KPIs would include metrics such as the amount of debt collected, the cost per dollar collected, compliance with regulations, and customer satisfaction (for debtors). These would be detailed in the contract's performance work statement.
How does the awarded amount compare to historical spending on similar collection services?
A direct comparison to historical spending is not possible with the given data. To assess value, one would need to analyze the contract's scope, duration, and the specific types of debt being collected against similar contracts awarded by the government or in the private sector.
Industry Classification
NAICS: Administrative and Support and Waste Management and Remediation Services › Business Support Services › Collection Agencies
Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › MANAGEMENT SUPPORT SERVICES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Solicitation ID: RFQ FSA-48130100-24-002
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 4273 VOLUNTEER RD, GENESEO, NY, 14454
Business Categories: Category Business, Corporate Entity Not Tax Exempt, Not Designated a Small Business, Special Designations, Subchapter S Corporation, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $11,452,920
Exercised Options: $9,172,624
Current Obligation: $9,172,624
Actual Outlays: $9,172,624
Subaward Activity
Number of Subawards: 7
Total Subaward Amount: $920,096
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: 47QRAA23D0089
IDV Type: FSS
Timeline
Start Date: 2024-02-18
Current End Date: 2025-11-17
Potential End Date: 2025-11-17 00:00:00
Last Modified: 2026-01-15
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