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KITTITAS COUNTY <br />TREASURER’S OFFICE <br /> <br />AGENDA STAFF REPORT <br /> <br /> <br />AGENDA DATE: January 4th, 2022 <br /> <br />ACTION REQUESTED: Request to Acknowledge an Amendment to Extend the <br />Professional Services Agreement between Kittitas County and PFM Financial Advisors <br />LLC for 2022-2023. <br /> <br /> <br />BACKGROUND: Kittitas County Treasurer’s Office (Treasurer) has had a <br />Professional Services Agreement with PFM Financial Advisors PLLC (PFM) since 2016 <br />in which PFM serves as the financial advisor to assist the Treasurer in developing and <br />implementing strategies to meet our short and long-term operations, financial obligations, <br />capital financing needs, and to render assistance with respect to debt transactions. <br /> <br />The purpose of extending this Professional Services Agreement between the Treasurer <br />and PFM is to continue the agreement from January 1, 2022 until December 31, 2023 and <br />thereby retain the services of PFM as financial advisor, for which a quarterly retainage <br />fee of $1,000 is paid, as well as any additional fees billed at a fixed rate for financing <br />projects (e.g., bond issuance) and non-transaction related hourly project fees. <br /> <br />There were no changes to the contract terms, including cost, other than extending the <br />term from January 1, 2022 through December 31, 2023. The contract allows for <br />additional two year extension terms upon mutual agreement in writing. <br /> <br />INTERACTION: The Kittitas County Prosecutor’s Office has reviewed and <br />approved. <br /> <br />RECOMMENDATION: Request to Acknowledge an Amendment to Extend the <br />Professional Services Agreement between Kittitas County and PFM Financial Advisors <br />LLC for 2022-2023. <br /> <br />HANDLING: Please return one copy of the signed Resolution to the Kittitas County <br />Treasurer’s Office for our records. <br /> <br />ATTACHMENTS: PFM original Professional Services Agreement and First <br />Amendment to Extend Agreement, for reference. <br /> <br />LEAD STAFF: Amy Cziske, Treasurer <br /> Kylee Wuesthoff, Finance Officer