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CC - Consent Item: Approval of an Amendment to Existing Professional Services Agreement with PFM Financial Advisors LLC for Consulting Services Related to City’s Five-Year Financial Plan in an Amount Not-to-Exceed $223,650 for an Aggregate Contract Amount Not-to-Exceed $273,650.
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Meeting Date: August 10, 2026
Contact Person/Dept.: Stephen Agostini/Assistant City Manager
Phone Number: (310) 253-6000
Fiscal Impact: Yes [x] No [] General Fund: Yes [x] No []
Attachments: Yes [] No [x]
Public Notification: (E-Mail) Meetings and Agendas - City Council (08/05/2026)
Department Approval: Stephen Agostini, Assistant City Manager (08/04/2026) _____________________________________________________________________
RECOMMENDATION
Staff recommends the City Council approve an amendment to the existing professional services agreement with PFM Financial Advisors LLC (PFM) for consulting services related to the five-year financial plan in an amount not-to-exceed $223,650 for an aggregate contract amount not-to-exceed $273,650.
DISCUSSION
The City is currently developing a long-term financial plan to improve financial flexibility, manage risk, and position the City to respond effectively to future challenges. As part of this process, the City is seeking professional consulting services to conduct a focused, decision-oriented assessment of the Culver City Police Department and the Culver City Fire Department. The purpose of the engagement is to provide the City Council and City staff with practical recommendations regarding staffing, operations, service delivery, and fiscal sustainability.
On March 16, 2026, the City Council approved a professional services agreement with PFM for financial advisory services related to revenue lease bonds in amount not-to-exceed $50,000. Based on the City’s familiarity with PFM’s financial advisory and consulting expertise, staff contacted the firm regarding a proposal for conducting the proposed assessment of the City’s Police and Fire Department operations. The quoted amount for this enhancement to their scope of services is $223,650, which would bring the aggregate contract amount up to $273,650.
PFM proposed an accelerated assessment intended to produce timely, practical, and actionable recommendations. PFM anticipates completing the full scope of services within approximately five months, assuming timely access to requested City data and personnel. Additionally, the proposal is structured to allow the City to prioritize certain components of the assessment while retaining the ability to complete a broader review.
Per Culver City Municipal Code Section 3.07.065.A., the City may award contracts in any amount for professional services based upon competitive quotations, whenever practical, as determined by the City Manager. Due to the importance of completing the long-term financial plan, it was determined that soliciting additional competitive quotations was not practical.
FISCAL ANALYSIS
The amended agreement will be an amount not to exceed $273,650. The Fiscal Year 2026-27 Adopted Budget includes $50,000 in CCPFA for the financial advisory services related to lease revenue bonds. The FY 2026-27 Adopted Budget also includes $100,000 in the Fire Department’s Budget to account for the operational assessment in account #10145100.610400 Consulting Services. The additional $123,650 needed to complete an integrated public safety operational assessment engagement including both Police and Fire Departments will be transferred from the City Manager’s Appropriated Reserve / Contingency account #10116100.910200 to the Police Department’s budget account #10140200.619800 Other Contractual Services.
ATTACHMENTS
None.
recommended action
MOTION(S)
That the City Council:
1. Approve of an Amendment to the Existing Professional Services Agreement with PFM Financial Advisors LLC for Consulting Services Related to City’s Five-Year Financial Plan in an additional amount not-to-exceed $223,650 for an aggregate contract amount not-to-exceed $273,650; and
2. Authorize the City Attorney to review/prepare the necessary documents; and
3. Authorize the City Manager to execute such documents on behalf of the City.