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File #: 2019-230    Version: 1 Name:
Type: Resolution Status: Passed
File created: 6/10/2019 In control: Board of Directors Workshop Meeting
On agenda: 6/12/2019 Final action: 6/12/2019
Title: Proposed Amendment to GLWA Contract CS-195 effective July 1, 2019 with The Foster Group for Annual Financial Management Consulting at a not-to-exceed amount of $1,000,000 for a two-year contract, and for SRF Bond Transaction support at $15,000 per transaction until such time as an RFP for Market Bond Transaction Services is secured, in addition to a quarterly update to the Audit Committee on the attached Transition Plan presented to the Board on June 12, 2019
Sponsors: Nicolette Bateson
Indexes: Finance
Attachments: 1. CS-195 Work Plan Transition Summary.pdf, 2. CS195 Status Report Proposal 051319.pdf


Title
Proposed Amendment to GLWA Contract CS-195 effective July 1, 2019 with The Foster Group for Annual Financial Management Consulting at a not-to-exceed amount of $1,000,000 for a two-year contract, and for SRF Bond Transaction support at $15,000 per transaction until such time as an RFP for Market Bond Transaction Services is secured, in addition to a quarterly update to the Audit Committee on the attached Transition Plan presented to the Board on June 12, 2019

Body
Agenda of: June 12, 2019
Item No.: 2019-230
Amount: N/A

TO: The Honorable
Board of Directors
Great Lakes Water Authority

FROM: Sue F. McCormick
Chief Executive Officer
Great Lakes Water Authority

DATE: June 12, 2019

RE: Proposed Amendment to GLWA Contract CS-195 effective July 1, 2019 with The Foster Group for Annual Financial Management Consulting at a not-to-exceed amount of $1,000,000 for a two-year contract, and for SRF Bond Transaction support at $15,000 per transaction until such time as an RFP for Market Bond Transaction Services is secured, in addition to a quarterly update to the Audit Committee on the attached Transition Plan presented to the Board on June 12, 2019

MOTION

Upon recommendation of Nicolette Bateson, Chief Financial Officer/Treasurer, the Great Lakes Water Authority Board authorizes the Chief Executive Officer (CEO) to enter into Contract No. CS-195 effective July 1, 2019 with The Foster Group for Annual Financial Management Consulting at a not-to-exceed amount of $1,000,000 for a two-year contract, and for SRF Bond Transaction support at $15,000 per transaction until such time as an RFP for Market Bond Transaction Services is secured, in addition to a quarterly update to the Audit Committee on the attached Transition Plan presented to the Board on June 12, 2019, and also authorizes the CEO to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
The current fixed fee, fixed cost contract...

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