Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Contract with the PFM Group for Financial Advisor Services.
Summary
MEETING DATE: August 20, 2013
DEPARTMENT: Finance
Purchasing
CONTACT: Rodney Rhoades, Chief Financial Officer
Erin Boddie, CPPB, Contract Administrator
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Resolution.
ITEM SUMMARY:
· This Resolution authorizes a contract with the PFM Group for financial advisor services effective immediately for a period of three (3) years with options to renew the contract for two (2) additional one-year periods.
BACKGROUND INFORMATION:
· The City of McKinney issued a request for proposals (13-29RFP) for Financial Advisor Services, in June 2013.
- 55 vendors received Request for Proposals No. 13-29RFP
- 9 vendors reviewed Request for Proposals No. 13-29RFP
· Bid opening of 13-29RFP was held on June 27, 2013.
- Total of two (2) bids were received.
- The City's Finance Department reviewed the proposals based on the criteria set forth in the RFP.
- The Finance Department interviewed the bidders and conducted a thorough analysis.
· The Finance Department recommends the PFM Group as the best evaluated proposal.
FINANCIAL SUMMARY:
· Funding is available in account number 001-2101-413-8509
BOARD OR COMMISSION RECOMMENDATION:
· N/A