Item C26
BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: September 17 , 2008 Division: Budget and Finance
Bulk Item: Yes ~ No - Department: OMB
Department Contact: Tina Boan x4472
AGENDA ITEM WORDING: Approval to renew a contract for Financial Advisory Services
with Public Financial Management, Inc. (PFM), Financial Advisor to Monroe County.
ITEM BACKGROUND: Extend services for one additional year, beginning April 21, 2008. Monroe
County had completed the RFQ process in 2004 and wished to continue services with PFM.
PREVIOUS RELEVANT BOCC ACTION: On June 20,2007, the BOCC approved a Contract
Renewal with PFM. PFM has been under contract as the Financial Advisor to Monroe County since
1986.
CONTRACT/AGREEMENT CHANGES: N/A
STAFF RECOMMENDATIONS: Approval
TOTAL COST: $2,500/month BUDGETED: Yes ~ No -
COST TO COUNTY: $2,500/month SOURCE OF FUNDS: General Funds
REVENUE PRODUCING: Yes - NoX AMOUNT PER MONTH - Year
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APPROVED BY: County Atty. X- ~haSing -X- Risk Management NI A
DOCUMENTATION: Included X To Follow_ Not Required_
DISPOSITION: AGENDA ITEM #
Revised 8/06
MONROE COUNTY BOARD OF COUNTY COMMISSIONERS
CONTRACT SUMMARY
Contract #
Contract with: Public Financial Mgmt. Effective Date:4/2112008
Expiration Date:4/20/2009
Contract Purpose/Description: Renew agreement with Public Financial Management, Inc. for
one additional year for Financial Advisory Services.
Contract Manager: Tina Boan 4472 OMB/#1
(Name) (Ext.) (Department/Stop #)
for BOCC meeting on 9/17/08 Agenda Deadline: 912/08
CONTRACT COSTS
Total Dollar Value of Contract: $30,000.00 Current Year Portion: $12,500.00
Budgeted? YesD NoD Account Codes: 001-00101-530310- -
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Grant: $_ - - - -
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County Match: $_ - - - -
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- - - -
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ADDITIONAL COSTS
Estimated Ongoing Costs: $_/yr For: -
(Not included in dollar value above) (eg. maintenance, utilities, ianitorial, salaries, etc.)
CONTRACT REVIEW
Changes Date Out
Date In Needed 1J?r
Division Director - YesD No
Risk Management Qr:3-t'i YesD No /3-ot
o .M.B./Purchasing - YesD No~ ~! ~
County Attorney ~ YesDNoGY ~: Wi
Comments: -
OMB Form Revised 2/27/01 MCP #2
Contract Renewal
This renewal is made and entered into this 21 st day of April, 2008 between
Monroe County, called the "County", and Public Financial Management,
Inc., called "Financial Advisor", in order to renew the agreement entered
into on April 21, 2004.
Whereas, the current agreement is due to expire and Monroe County desires
to extend the agreement an additional year.
Now, Therefore in consideration of the mutual terms, understandings,
conditions, promises, covenants, and payments hereinafter set for the,
County and Financial Advisor agree as follows:
Section 1. Recitals. The above recitals are true and correct and incorporated
herein.
Section 2. Term. This agreement is hereby extended for one year from the
date of expiration of the current agreement.
Section 3. Notices. The County party shall read:
For Monroe County
Roman Gastesi, County Administrator
1100 Simonton Street
Key West, FL 33040
Section 4. Financial Advisor's Representatives. The following named
individuals from Financial Advisor's fIrm shall provide the services set forth
in this agreement:
Mr. Hal Canary, Managing Director
Mr. David Moore, Managing Director
TEAM MEMBERS:
Sergio Masvidal, Senior Managing Consultant
Jay Glover, Senior Managing Consultant
Russell Edghill, Consultant
Jeremy Niedfeldt, Consultant
Section 5. Other Conditions. All other conditions of the Agreement shall
remain in full force effect.
In Witness Whereof, the parties have hereunto set their hands and seal, the
day and year first written above.
(Seal)
Attest Danny L. Kolhage, Clerk Board of County Commissioners
of Monroe County, Florida
By
Deputy Clerk Mayor
Public Financia ~nt, Inc.
I ,
By: /~ U.t
Hal W. Canary
Title: Managing Director
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