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