Purchasing Type: Change Order (CO)
Public Hearing: YES ☐ NO ☒ Department: Purchasing & Contracting
AGENDA ITEM:
Title
Commission District(s): ALL
CO - Change Order No. 2 to Contract No. 1310425 Financial Advisory Services (3 Year Multiyear Contract with 2 Options to Renew): for use by the Department of Finance. This contract consists of providing financial advisory services and acting as the County’s municipal advisor. This request seeks to increase the contract scope and extend the contract term through December 31, 2026. Recommend award to Public Financial Management Inc. dba PFM Financial Advisors LLC. CONTRACT TERM EXTENSION ONLY.
Body
Information Contact: Michelle Butler, Chief Procurement Officer
Phone Number: (404) 687-3581
PURPOSE:
Awarded by the BOC on November 8, 2022, for an amount not to exceed $1,664,500.00. On January 27, 2026, the BOC approved Change Order No. 1 to extend the contract term only through June 30, 2026. This contract consists of providing financial advisory services in connection with various financing transactions and programs and acting as the County’s “municipal advisor” as outlined by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) and the Securities and Exchange Commission’s Rule 15bA-1 (the “Municipal Advisor Rule”). This request seeks approval to expand the scope of services by incorporating affiliate language, permitting PFM’s affiliated legal entities-each with specialized financial expertise to provide services to the County, and extend the contract term through December 31, 2026. The addition of affiliate language is necessary to allow a PFM affiliate to support the Finance Department in the development of an upcoming Request for Proposals (RFP), as well as to enable the provision of specialized financial services, as needed. The proposed contract extension will ensure continuity of services and avoid any lapse during the period in which a new solicitation is being developed, issued, and evaluated. All affiliated entities will be subject to the same terms, conditions, and performance requirements as the primary contractor.
RECOMMENDATION:
Recommended Action
Recommend approval of Change Order No. 2 with:
Public Financial Management Inc. dba PFM Financial Advisors LLC, 1735 Market Street, 42nd Floor, Philadelphia, PA 10103
and authorize the Chief Executive Officer to execute the change order and all associated documents.
ADDITIONAL INFORMATION:
1. Contract Effective Date: November 10,2022
2. Contract Expiration Date: June 30, 2026
3. Amount Spent to Date: $78,800.00