Posted: Thursday, October 25th 2012 at 8:18pm
PFM Group to provide financial advice for Hall County
By Marc Eggers Staff
GAINESVILLE –The Hall County Board of Commissioners voted Thursday evening to retain The PFM Group for financial advice services.
This move is a first for the county as it joins a growing list of local government agencies across the nation deciding to seek such services and multiply the financial input at their disposal as they make crucial decisions regarding the handling of taxpayer monies.
PFM describes themselves on their website as providing independent financial and investment advice, management, and consulting services to local, state, and regional government and non-profits since 1975.
Hall County Finance Director Vickie Neikirk said earlier this week that she was informed when she was hired by the commissioners that such a move would happen, agreeing that Hall County has grown to the point of needing such services.
Dianne McNabb and Michael McDonald of PFM appeared before the commission to answer any questions about their services.
"We’ve been in Atlanta since 1983," McNabb said introducing herself and her colleague. "We are the largest financial advisory firm in the country."
"The types of things we do, first…at the very least we work with them (agencies) on their debt management…where borrowing for some purpose seems advisable we help determine the most favorable approach to that debt issuance," McNabb explained.
"We also do a lot of capital planning and work in the economic development area, as needed."
Commissioner Ashley Bell asked McNabb, "Ultimately all decisions still rest with the commission? You just provide advice?"
"Absolutely," McNabb responded.
"I’d like to offer a friendly amendment to the motion," Commissioner Craig Lutz interjected, "and say that we do it (the agreement) hourly, to allow our staff to negotiate the per-hour rate, not to exceed $250 per-hour, and to not exceed $25,000 per year without coming back to the commission."
Lutz’s amendment and the hiring of PFM were approved unanimously.
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