Subject:
Title
Professional Services Agreement with PFM Financial Advisors LLC for Tourist Development Taxes-Related (TDT) financial advisor services.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Professional Services Agreement with PFM Financial Advisors LLC for TDT-related financial advisor services.
• The Office of Management and Budget is requesting a professional services agreement to provide cash-flow, debt calculation, and/or financial advisory services.
• The agreement has a total not-to-exceed contract value in the amount of $175,000.00 for an initial twelve (12) month term.
• The FY23 Budget and FY24 Proposed Budget includes appropriations for these services ($200,000 in FY23 and $300,000 in FY24). Funding for this agreement is derived from Tourist Development Taxes.
• Services were secured under Purchasing code 2-178(j) “Professional Services Not Subject to CCNA” as a non-competitive procurement for professional financial services.
• The County Administrator has authority to sign this agreement per code section 2-62(a)(1).
Contract No. 23-00117-N in the total not-to-exceed amount of $175,000.00, effective for twelve (12) months.
Body
Strategic Plan:
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the public’s resources
5.3 Ensure effective and efficient delivery of county services and support
Summary:
Approval of this agreement with PFM Financial Advisors LLC will provide the Office of Management and Budget with a mechanism for obtaining professional services primarily involving debt and financial advisement associated with TDT revenues and expenses.
Background/Explanation:
On February 21, 2023, The Office of Management and Budget submitted a request for a non-competitive purchase.
Fiscal Impact:
Total not-to-exceed expenditure: $175,000.00
Funding is derived from Tourist Development Taxes.
Delegated Authority:
Authority for the County Administrator to approve this non-compete agreement is granted under 2-62(a)(1).
Staff Member Responsible:
Chris Rose, Director, Office of Management and Budget
Merry Celeste, Division Director, Purchasing & Risk, Administrative Services
Joe Lauro, Director, Administrative Services
Partners:
N/A
Attachments:
Agreement