Title
Financial Modeling Consultant Services
Action
Action:
A. Approve a contract with First Tryon Advisors for financial modeling consultant services for a term of three years, and
B. Authorize the City Manager to renew the contract for up to one, two-year term with possible price adjustments and to amend the contract consistent with the purpose for which the contract was approved.
Body
Staff Resource(s):
Teresa Smith, Finance
Matthew Hastedt, Finance
Mitali Shah, Finance
Explanation
§ The city requires qualified companies to provide financial functions that are integral to the city’s debt management processes, including financial modeling consultant services.
§ On March 3, 2025, the city issued a Request for Proposals (RFP) for various financial functions related to the city’s debt management processes; six responses were received.
§ First Tryon Advisors best meets the city’s needs in terms of qualifications, experience, cost, and responsiveness to RFP requirements for financial modeling consultant services.
§ At renewal, potential price adjustments may be considered based on legitimate and justified increases in the cost of doing business. The ability to consider price adjustments also allows the city to accept decreases, if warranted.
§ Annual aggregate expenditures are estimated to be $150,000.
Charlotte Business INClusion
The city negotiates contract participation after the proposal selection process. First Tryon Advisors has elected to self-perform 100% of the work on this contract and has provided the required documentation to demonstrate that it can perform all scopes of work on this contract with its own forces.
Fiscal Note
Funding: Finance Operating Budget