San Bernardino header
File #: 2362   
Type: Consent Status: Passed
File created: 6/15/2020 Department: Finance and Administration
On agenda: 6/23/2020 Final action: 6/23/2020
Subject: Contract with KNN Public Finance, LLC to provide financial advisory services
Attachments: 1. CON-FAB-06-23-20-Contract with KNN, 2. Item #47 Executed BAI, 3. 20-492 Executed Contract
REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF THE COUNTY OF SAN BERNARDINO
AND RECORD OF ACTION

June 23, 2020

FROM
MATTHEW ERICKSON, County Chief Financial Officer, Finance and Administration

SUBJECT
Title
Contract with KNN Public Finance, LLC to provide financial advisory services
End

RECOMMENDATION(S)
Recommendation
Approve Contract with KNN Public Finance, LLC a California limited liability company for the period of July 1, 2020 through June 30, 2025 in the amount not to exceed $130,000 annually, plus reimbursement for out-of-pocket expenses not to exceed $5,000 per year for general financial advisory services.
(Presenter: Katrina Turturro, Deputy Executive Officer, 387-5423)
Body

COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Improve County Government Operations.
Operate in a Fiscally-Responsible and Business-Like Manner.
Ensure Development of a Well-Planned, Balanced, and Sustainable County.

FINANCIAL IMPACT
Approval of this item will not require additional Discretionary General Funding (Net County Cost). The cost of this Contract is included in the recommended 2020-21 Countywide Discretionary Budget unit and will be included in subsequent recommended budgets.

BACKGROUND INFORMATION
The County has issued debt from time to time to finance or refinance construction and improvements, to refinance pension obligations, and on behalf of the Flood Control District (District), for judgment obligation bonds to pay the Districts obligation under a settlement agreement. Since September 2000, the County has retained a general financial advisor to provide the Board of Supervisors (Board), the Debt Advisory Committee (DAC), and staff with independent professional advice regarding all aspects of the County's debt program. These services benefit the County by reducing its debt exposure, reducing debt costs, and supporting policy formulation that allows the County to better serve all those involved in the debt process. The DAC revi...

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