TO: Honorable Mayor and Members of the City Council
FROM: Tom Kisela, City Manager
1. SUBJECT
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Agreement with Grant Thornton Advisors, LLC for Budget Risk and Economic Opportunities Advisory Services.
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2. SUMMARY
On February 25, 2025, the Orange City Council requested staff to bring back a presentation from Grant Thornton Advisors, LLC on a potential fiscal strategic plan. After hearing the presentation on March 11, 2025, the City Council directed staff to bring back an agreement with Grant Thornton Advisors, LLC to provide Budget Risk and Economic Opportunities Advisory Services. Should the City Council approve the proposed agreement, staff will work with Grant Thornton Advisors, LLC through the next two months to conduct the evaluations and analyses necessary to complete the final report.
3. RECOMMENDED ACTION
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Consider the agreement with Grant Thornton Advisors, LLC in the amount of $110,000 for Budget Risk and Economic Advisory Services, plus a 6% contingency for administrative expenses of $6,600, for a total of $116,600; and authorize the Mayor and City Clerk to execute on behalf of the City.
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4. FISCAL IMPACT
The expense for this agreement is $116,600 and will be funded through the General Fund (100) with unspent budget due to position vacancies:
100.0000.51670.00000 Other Professional & Consulting Services
5. STRATEGIC PLAN GOALS
Goal 2: Enhance Economic Development and Achieve Fiscal Sustainability.
6. DISCUSSION AND BACKGROUND
On February 25, 2025, the City Council discussed three studies to help promote the City's fiscal health. These included:
1. The Audit Committee reviewing the City's past annual budgets and annual comprehensive financial reports.
2. The City conducting a Citywide organizational and operational assessment.
3. The City completing a fiscal strategic plan.
Regarding the fiscal strategic plan, prior to the February 25th meeting, the City met with representatives from Grant Thronton Advisors, ...
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