Title
Consider recommending that the Board of Directors approve Amendment No. 1 to the Agreement for Services with Fieldman, Rolapp and Associates, Inc., to extend the term of the contract from August 3, 2028, to December 31, 2028, increase the dollar amount by $75,000 for a total contract amount not to exceed $165,000 for financial management services; and authorize the General Manager to execute the amendment. (Staff Presenting: Ara Azhderian)
Report
RECOMMENDATION:
It is recommended that the Monterey County Water Resources Agency Finance Committee:
Recommend that the Board of Directors approve Amendment No. 1 to the Agreement for Services with Fieldman, Rolapp and Associates, Inc., to extend the term of the contract from August 3, 2028, to December 31, 2028, increase the dollar amount by $75,000 for a total contract amount not to exceed $165,000 for financial management services; and authorize the General Manager to execute the amendment.
SUMMARY/DISCUSSION:
On August 3, 2023, the Monterey County Water Resources Agency (Agency) entered into an Agreement with Fieldman, Rolapp and Associates, Inc. to provide financial management services including development and maintenance of a Long Range Financial Plan Model and identification of potential funding strategies to support development of the Agency’s Dam Safety & Operations Financial Strategy. Fieldman has presented the Long Range Financial Plan Model and potential funding strategies
Amendment No. 1 seeks to expand Fieldman’s Scope of Services to complete Phase I of the original Agreement, maintaining the Long Range Financial Plan Model and supporting development of a long-range financial plan, and to implement Phase II, Analysis of Funding Options and Implementing the Funding Strategy.
OTHER AGENCY INVOLVEMENT:
None.
FINANCING:
Funds for this Amendment are budgeted in Fund 111 - Administration, in the adopted FY2025-2026 Budget. Other Funds may also be identified in future fiscal years.
Prepared and ...
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