REPORT TO THE CITY COUNCIL
FROM: SANTINO DANISI, MBA, City Controller/Finance Director
Finance Department
BY: KALEB NEUFELD, MBA, Assistant Controller/Assistant Director
Finance Department
SUBJECT
Title
Approve the First Amendment to the Consultant Service Agreement with Willdan Financial Services for municipal securities administrative services, extending the term two additional years and increasing the contract by $134,098 for a revised total amount not to exceed $384,098
Body
RECOMMENDATION
Staff recommends that the City Council approve the First Amendment to the Consultant Service Agreement with Willdan Financial Services for municipal securities administrative services, thereby increasing the total contract amount by $134,098, for a revised total fee amount not to exceed $384,098.
EXECUTIVE SUMMARY
The First Amendment to the Consultant Service Agreement with Willdan Financial Services is intended to support the City's ongoing need for specialized municipal securities administrative services. This amendment reflects the City's commitment to maintaining effective management and compliance for its special districts, bond arbitrage, and continuing disclosure obligations, as required by applicable municipal and state regulations.
The amendment will update the agreement's fee schedule and extend the term of services for two additional years, ensuring uninterrupted access to expert financial administration and reporting for the City's municipal securities programs and community facility districts (CFDs). These enhancements are designed to strengthen the City's capacity to meet evolving regulatory requirements and to support the responsible stewardship of public funds.
BACKGROUND
The City of Fresno entered into the last Service Agreement with Willdan Financial Services on May 1, 2021, to provide professional administrative services related to municipal securities, including support for special districts, bond arbitrage, and continuing d...
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