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Agreement With PFM Financial Advisors, LLC, for Financial Advisory Services for Clerk of Circuit Court and Comptroller Financial Services Department (Amount: $16,000.00)
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BRIEF OVERVIEW
The Clerk of Court’s Financial Services Department is seeking approval for an agreement with PFM Financial Advisors LLC to obtain Financial Advisory Services to develop and assist in implementing strategies to meet current and long-term operations, financial obligations, capital financing needs, and render assistance in respect to debt transactions.
A current agreement for Financial Advisory Services is in place with RBC Capital Markets, LLC for an annual retainer in the amount of $24,000.00. The Clerk of Court’s Financial Services Department is terminating the current contract with RBC Capital Markets, LLC and is proposing to contract with PFM Financial Advisors LLC to provide the same services for an annual retainer amount of $16,000.00.
Financial Advisory Services fall under Sec. 2-101 of the Procurement Ordinance as an exemption to the competitive procurement process.
FINANCIAL IMPACT
Funds are available in Account No. 01051-5303101, Professional Services in the amount of $16,000.00.
LEGAL NOTE
In accordance with Part II, Chapter 2, Article V of the Hernando County Code of Ordinances
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached Agreement for Financial Advisory Services with PFM Financial Advisors, LLC in the retainer amount of $16,000.00. Be advised, approving this Agreement allows additional County expenditures, beyond the retainer amount, described in Exhibit B, sections 1 and 3.
It is further recommended the Board approve the Chief Procurement Officer to approve change orders as they become necessary and required up to the budgeted amounts.