Burbank Unified committee previews contract with Key Analytics to improve bond reporting

Tarana Alam, Managing Director of Key Analytics, previewed a bond-reporting product for the committee that she said "mirrors 100% to the financial system" and produces project-level, vendor-level and encumbrance detail tied to district account codes. Alam said the firm's software and analysts match each warrant and project so the committee can see what was paid, what is encumbered and what remains available.

Alam said the firm can produce quarterly dashboards and single-project overviews that show phasing, status and expenditures; she demonstrated a mock-up that included a summary bar chart, project phasing and a $29,300,000 active pipeline for roofing and other summer projects. "We pull the data directly from the district's financial system and upload it into our proprietary software," she said.

District staff told the committee the board would consider a professional-services contract for Key Analytics at the next board meeting; staff said the proposed annual cost is $85,000 and that it could be paid from bond soft costs. Committee members asked whether the services required a competitive bid; staff replied the engagement is professional services and not subject to a competitive bid threshold under statute.

Members sought assurances about cost-effectiveness and independence. One member compared the contract cost to hiring a budget analyst and asked if Key Analytics would only charge bond-related work. Staff confirmed Key Analytics would focus on bond reporting and that any salary/benefit prorating would be for work directly tied to the bond; they said Key Analytics's offering includes hands-on analyst support and continuity the district lacked.

Committee members requested future reports show exceptions (e.g., over-budget items) clearly flagged, and asked for quarterly cadence and an itemized backup to reconcile expenditures to the district's financial system. Staff said such features would be part of the engagement.