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File #: 19-0329    Version: 1
Type: Report Status: Filed
File created: 7/22/2019 In control: City Council
On agenda: 8/6/2019 Final action: 8/6/2019
Title: Procurement Report: Callan Associates Inc., Permanent Fund Advisor
Sponsors: City Council
Attachments: 1. Callan PSA 2020


Procurement Report: Callan Associates Inc., Permanent Fund Advisor

SUBMITTED BY: Brian Carlson, Finance Director



Expenditure Required: $99,999

Unencumbered Balance: $200MM; to be appropriated in 2020 Budget

Funding Source: 607.1050.43200, Permanent Fund Professional Fees and Services



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                     The Permanent Fund Committee unanimously wishes to continue with the City’s longstanding relationship with Callan Associates, Inc., as permanent fund advisor.

                     The City’s procurement code mandates a Request for Proposals for any contract exceeding $100K.  This threshold applies to the aggregate costs of multi-year contracts.

                     Callan has increased their fees by 3% annually since their original engagement in 2012. Their standard inflation figure now puts their annual fees over $100K.  They have agreed to keep their fees below $100K and to use one-year contracts. The 2020 contract is for $99,999.

                     The basis for not seeking competitive bids is to continue a longstanding beneficial relationship, and to proactively contain cost increases.

                     This report is submitted pursuant to section 2.80.040 of the Municipal Code.

                     Attachments: Callan PSA 2020