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Committee lifts fiscal-year cap on utilities consulting contract to allow remaining work on water and wastewater financing
Summary
The Finance Committee approved removing the annual fiscal-year spending cap from the Financial Consulting Solutions (FCS) Group contract so remaining available funds under the four-year agreement can be used for ongoing water and wastewater rate and financing work; the contract itself remains within its total four-year ceiling.
The Finance Committee on March 10 approved an amendment that removes the fiscal-year spending cap in the professional services contract (item 21-0522) with Financial Consulting Solutions Group Inc (FCS). The change does not increase the contract—s total four-year ceiling (roughly $600,000) but allows unspent funds from earlier contract years to be used in the contract—s final year so consultants can complete critical rate and financing work for the city—s utilities.
Director Dozier and Finance Director Andy Osterholm explained why flexibility is needed: FCS…
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