Item Title: | County Administration/Strategic Development - Financial Advisor Professional Services Agreement (2023-0837) | Submitted By: | Jose M. Landeros, Director of Strategic Development, County Administration Department (915) 546-2159 | Subject: | Approve and authorize the County Judge to sign the two-year professional services agreement with Stifel, Nicolaus & Company Inc. for the provision of municipal advisor/financial advisor services through September 30, 2025, subject to final legal review and approval from the County Attorneys' Office. (Contract No. 2023-0837) | Background: | A financial advisor plays a pivotal role when serving a county government by offering invaluable expertise in managing the complex financial landscape unique to the public sector. Their primary responsibility involves assisting the county in making prudent fiscal decisions and optimizing its financial resources. They work closely with county officials to understand their specific goals and priorities, whether it's infrastructure development, social programs, or debt reduction.
One crucial aspect of a financial advisor's role in county government is crafting and implementing a long-term financial strategy that ensures sustainability and fiscal responsibility. This strategy debt management to minimize borrowing costs, and tax planning to optimize revenue streams. Additionally, financial advisors help counties navigate regulatory requirements and compliance, ensuring that they adhere to all relevant financial laws and regulations. By providing expert guidance and strategies tailored to the county's unique financial situation and objectives, financial advisors play a vital role in helping county governments efficiently allocate resources and serve their constituents effectively. | Fiscal Impact: | | Recommendation: | Approve and authorize the County Judge to sign the two-year professional services agreement with Stifel, Nicolaus & Company Inc. for the provision of municipal advisor/financial advisor services through September 30, 2025, subject to final legal review and approval from the County Attorneys' Office. (Contract No. 2023-0837) | Prior Action: | | Strategic Plan: | .. | Strategic Plan Information: | |
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