Laserfiche WebLink
BACKGROUND <br /> Most cities have financial advisors on contract to provide ancillary analytical services, <br /> develop bond sizing models, help manage debt, and develop financial and capital plans. <br /> Pleasanton has not had a financial advisor on contract for many years. There are a few <br /> projects for which staff requires financial advisor assistance including the Civic Center <br /> project and the Downtown Parking project. There are also other miscellaneous analyses <br /> and research that would be helpful to have a financial advisor's assistance. Finally, should <br /> the City issue debt, the City will require a financial advisor to help manage the issuance. <br /> DISCUSSION <br /> On October 9, 2015, staff issued a Request for Proposals (RFP) for financial advisory <br /> services. The RFP was sent to 11 firms that provide financial advisory services to local <br /> governments, as well as posted it on the City's website. Proposals were due November <br /> 9, 2015. <br /> Staff received seven responses to the RFP. A review panel comprised of two Finance <br /> Department staff, the Economic Development Director, and the Director of Administrative <br /> Services from Dublin San Ramon Services District(DSRSD) scored the proposals. Based <br /> on the proposal scores, four of the firms advanced to an interview with the review panel <br /> which were held on December 10, 2015. All four panelists ranked PFM as their first <br /> choice. <br /> PFM was founded in 1975 to provide a variety of financial advisory services to <br /> governmental entities including investments, managing debt issuances, capital plans, and <br /> budget consulting services. They have 500 employees in 33 offices across the country. <br /> Submitt by: Approve y: <br /> l <br /> Tina Olson Nelson Fialho <br /> Director of Finance City Manager <br /> Attachments: <br /> 1. Contract with PFM <br /> Page 2 of 2 <br />