ITEM TITLE:
Procurement Report - Professional Services Agreement with Callan and Associates for Permanent Fund Investment Service
SUBMITTED BY: Jordan Nelson, Finance Director
FISCAL NOTES:
Expenditure Required: $99,500
Unencumbered Balance: $199,800
Funding Source: Permanent Fund Professional Service; 607-1050-43200
RECOMMENDATION:
Receive and file
SUMMARY STATEMENT:
• Chapter 2.80.04 of Valdez Municipal Code requires notification by written report to the city council for all procurements between forty-thousand dollars and one-hundred thousand dollars
• This contract formalizes one year of advisory services for the permanent fund, in the amount of $99,500
• This engagement with Callan is unanimously supported by the Permanent Fund Committee and city administration