Agenda 12/16/2008 Item #16F 8
Agenda Item No, 16F8
December 16, 2008
Page 1 of 3
EXECUTIVE SUMMARY
Recommendation to approve contract for RFP 08-5081 with Public Financial Management,
Inc., for Financial Advisory Services
OBJECTIVE: Board of County Commissioners approval of a contract with Public Financial
Management, Inc" (PFM), to serve as Financial Advisor to Collier County.
CONSIDERATIONS: The Financial Advisor to Collier County must be able to provide a full
scope of financial advisory services and demonstrate experience in the delivery of those
services including but not limited to:
. Assisting the County in developing and/or modifying long-term plans that address all
proposed capital needs and how these needs should be funded;
. Assisting the County with interpretation and implementation of provisions on outstanding
bond issues;
. Periodically reviewing all outstanding bond issues to determine and recommend if
refunding or restructuring of these issues are in the County's best interest;
. Financial Advisory services required for specific public offering of securities, public
(competitive) sale of bonds, and negotiated sale of bonds; and
. Other financial services as needed,
,..,..
PFM has served as the County's Financial Advisor since July 2004. The initial contract was for a
two (2) year period and there have been two (2) one (1) year extensions in accordance with the
Purchasing Policy, Further extensions are not permissible under the Purchasing Policy,
Due to the expiration of the existing contract, a request for proposals (RFP 08-5081) was
publicly advertised on May 21, 2008. Notices were sent to 62 firms with 6 firms requesting full
packages. A total of six (6) responses were received by the due date of June 24, 2008. A
Selection Committee meeting was held October 22, 2008, and after review and discussion of
the proposals, the committee selected as follows:
(PFM) Public Financial Management, Inc,
Staff has negotiated a contract with the top-ranked firm, PFM, The term of the agreement is a
two (2) year period from the date of execution and may be renewed for two additional one-year
periods.
GROWTH MANAGEMENT IMPACT: There is no Growth Management impact associated with
this Executive Summary,
LEGAL CONSIDERATIONS: This item has been reviewed and approved by the County
Attorney's Office, is not quasi-judicial and requires no ex parte disclosure, requires only a
majority vote for approval. and is otherwise legally sufficient for Board action, Subject to the
Board's approval, the standard County approved agreement will be reviewed and signed by the
County Attorney's Office and presented for the Chair's signature,-SRT
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I
Agenja iterri t\!O. 16F3
December 16. 2008
Page 2 of3
FISCAL IMPACT: The cost of service will be determined by the type and frequency of service
requested. The County Manager or his designee must authorize any special project work, Any
non-General Fund work authorized and performed will be charged directly to the department
and fund for which the services were rendered,
RECOMMENDATIONS: That the Board of County Commissioners:
1,) Approve the selection of PFM as the Financial Advisor for Collier County, and
2,) Authorize the Chairman to execute the standard, County Attorney approved contract.
Page 1 of 1
Agenda Item No, 16F8
December 16, 2008
Page 3 of 3
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
Item Number:
16F8
Item Summary:
Recommendation to approve contract for RFP 08-5081 with Public Financial Management.
Inc., for Financial Advisory Services
Meeting Date:
12/16/200890000 AM
Approved By
Lyn Wood
Purchasing Agent
Date
Administrative Services
Purchasing
12/4/20089:31 AM
A pproved By
Steve Carnell
Purchasing/General Svcs Director
Date
Administrative Services
Purchasing
12/4/2008 1 :21 PM
Approved By
OMB Coordinator
Applications Analyst
Information Technology
Date
Administrative Services
12/5/2008 8:S1 AM
Approvl'd By
Scott R. Teach
Assistant County Attorney
County Attorney OffiGe
Date
County Attorney
12/5/20084:06 PM
Approved By
John A. Y onkosky
Director of the Office of Management
Date
County Manager's Office
Office of Management & Budget
12/5/20084:11 PM
Approved By
James V. Mudd
County Manager
Date
Soard of County
Commissioners
County Manager's Office
1216/20089:53 AM
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12/1 0/2008