☒ Consent Agenda ☐Quasi-Judicial Public Hearing
☐ Regular Business 3:00 pm
☐ Public Hearing Amendment
DEPARTMENT: Administrative Services
SUBMITTED BY: Megan Deuchar
PRESENTED BY: Peter Danao
TITLE & DESCRIPTION:
title
Agreement Amendment / Financial Advisory Services / PFM Financial Advisors, LLC
body
REQUESTED MOTION:
Approve the Amendment extending the term of the Agreement for one (1) year with PFM Financial Advisors, LLC, for ongoing Financial Advisory Services.
SUMMARY:
Staff is requesting approval of a one-year renewal of the Agreement with PFM Financial Advisors, LLC for Financial Advisory Services.
BACKGROUND:
The original Agreement for Financial Advisory Services with PFM Financial Advisors, LLC was approved by the Board on December 13, 2022, following a competitive selection process conducted under RFP No. 22-24-00RFP, and established a three-year initial term with up to two (2) additional one-year renewal terms available upon mutual agreement. The proposed Amendment exercises one of these allowable renewal periods, continuing services under the same scope, terms, and pricing as originally approved.
FUNDS:
Budget Amount: N/A
Actual Agenda Item: N/A
Cost: As-needed, based on services requested
Account Number: 001-71375133400000
Explanation: No fixed annual cost is associated with this renewal; expenses will occur only when Financial Advisory Services are requested and will be billed in accordance with the existing Agreement.