HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: 12-00241
Date: 03/05/2012 Requesting Department: City Manager's Office
Commission Meeting Date: 03/22/2012 District Impacted: Citywide
Type: ® Resolution n Ordinance ❑ Emergency Ordinance n Discussion Item
Subject: Ratifying, confirming and approving a Professional Services Agreement with Public Financial
Management, Inc. for financial services.
Law Department
Matter ID No.
12-436
Purpose of Item: A RESOLUTION OF THE MIAMI CITY COMMISSION, BY A FOUR -FIFTHS (4/5THS)
AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING, CONFIRMING, AND
APPROVING THE CITY MANAGER'S RECOMMENDATION AND WRITTEN FINDINGS, PURSUANT TO
SECTION 18-85(A) OF THE CODE OF THE CITY OF MIAMI,' FLORIDA, AS AMENDED, WAIVING THE
REQUIREMENTS FOR COMPETITIVE SEALED BIDDING AS NOT BEING PRACTICABLE OR ADVANTAGEOUS
TO THE CITY OF MIAMI FOR FINANCIAL SERVICES IN SUPPORT OF COLLECTIVE BARGAINING, LABOR
NEGOTIATIONS, AND RELATED BUDGET ISSUES, AND AUTHORIZING THE CITY MANAGER TO EXECUTE A
PROFESSIONAL SERVICES AGREEMENTS ("PSA") IN SUBSTANTIALLY THE ATTACHED FORM, BETWEEN
THE CITY OF MIAMI ("CITY"), AND THE FINANCIAL FIRM, PUBLIC FINANCIAL MANAGEMENT, INC.
("PFM"),FOR AN AMOUNT NOT TO EXCEED $110,144.00, FOR THE PROVISION OF QUANTITATIVE AND
ANALYTICAL FINANCIAL SERVICES TO THE CITY OF MIAMI IN SUPPORT OF COLLECTIVE BARGAINING,
LABOR NEGOTIATIONS, AND RELATED BUDGET ISSUES.
Background Information: On July 22, 2010, by Resolution No. R-10-0325, the City Commission authorized the City
Manager to execute a Professional Services Agreement with PFM, utilizing an existing City of Philadelphia Request for
Qualifications dated April 3, 2009, and subsequent agreement, as amended, for the provision of financial services, for the
office of the City Manager, effective through May 31, 2011, with options to renew for two (2) additional one (1) year
periods, in a first year annual amount not to exceed $125,000.00. During the initial term of the agreement; PFM provided
such financial services and incurred out-of-pocket expenses in the amount of $169,392.00, which exceeds the authorized
$125,000.00 initial contract value by $44,392.00. PFM also provided financial services at the City's request after the
expiration of the initial agreement, from June 1, 2011 through October 15, 2011, and the City compensated PFM for its
services and related out-of-pocket expenses in the amount of $65,752.00. Proper authorization from the City Commission is
required to ratify payments made to PFM, in an amount not to exceed $110,144.00, for financial services and out-of-pocket
expenses incurred in excess of the initial contract amount and between. June 1, 2011 and October 15, 2011.
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No: 00001.980000.531000
Special Revenue Account No: N/A
CIP Project No: N/A
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost: N/A
Maintenance Cost: N/A
Total Fiscal Impact: $110,144.00
Final Approvals
(SIGN AND DATE
CIP N/A Budget./
If using or receiving capital funds
Grants N/A Risk Management
Purchasin ,i,.',0r ,4�ti '7, Dept. Director
Chief lel-G— City Manager
Don.. 1 ..f 1
/A