Label
PFM Financial Advisors Consulting
Finance
Melanie Campbell (x1252)
(Revised)
Title
Authorizing the mayor to execute a professional services agreement with PFM Financial Advisors LLC. for consulting, project review and analysis services; authorizing the expenditure of $20,000 from the Capital Improvement Fund; waiving the competitive procurement provisions of TMC Chapter 187; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The Department of Finance is in need of municipal advising services regarding strategic advice and financial planning related to the City of Toledo's energy efficiency audit and proposed energy conservation and facilities improvement project. PFM Financial Advisors LLC (PFM) currently serves as the municipal advisor for the Department of Public Utilities in issuing debt and in the review and development of rate models. The Department of Finance would now like to engage PFM to act as municipal financial advisors for consulting, project review and analysis services. Additionally, should the City issue debt related to the energy efficiency audit, the City may extend PFM's services to include debt transaction management. At that time, the $20,000 fee will be waived. Funds for these additional services will be available and appropriated from future debt proceeds as approved by City Council at the time of issuance. This Ordinance authorizes a professional services agreement with PFM Financial Advisors LLC for consulting services and requests waiving the competitive procurement provisions of the TMC Chapter 187 in order to maintain consistency and the level of excellence and professionalism currently delivered by PFM to the City of Toledo.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $20,000
- The expenditure budget line item: 5040-14800-1135001STDSTD
- New revenue generated (operational revenue, grants, if any): N/A
- Revenue budget line item (if any): N/A
- Are funds budgeted in the cu...
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