Agda Pkt 2024.11.25. Joint SA PFA

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Page 2 of 3 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org In February 2019, the SBWMA Board awarded a three-year contract to the City of Redwood City to perform financial and accounting services, followed by a two-year extension. The contract included services for all general accounting services (accounts payable, accounts receivable, cash receipts, and general ledger), maintenance of bank and investment accounts, financial statement preparation, and annual review by independent auditors for the calendar year. In June 2024, the Accounting and Financial Services Agreement between the City of Redwood City and SBWMA expired. SBWMA expressed their interest in continuing the services provided as outlined in the original agreement and the City of Redwood City continued to work together with SBWMA to provide uninterrupted services since July 1, 2024 while the parties completed negotiation of the new contract. ANALYSIS The City’s Finance Department has been providing professional financial, accounting, and payroll services to outside agencies for many years. The City’s Finance Department will have workload capacity to provide financial and accounting services to SBWMA without any changes to staffing. Staff recommends authorizing the City Manager to execute the Agreement approving acceptance of payment for services performed since July 01, 2024 and future services to be provided through June 30, 2026, for a not to exceed amount of $281,526. The Agreement also includes the possibility of amending the Agreement for three additional one-year terms, if desired, and staff will return to Council for approval for any amendments. FISCAL IMPACT The Agreement to provide financial and accounting services between the City of Redwood City and SBWMA will result in revenue to the Finance Department of $137,131 in FY 2024-25 and $141,245 in FY 2025-26. These amounts exclude the reimbursement for accounting software, $1,500 in FY 2024-25 and $1,650 in FY 2025-26. ENVIRONMENTAL REVIEW This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably foreseeable indirect physical change in the environment. PUBLIC NOTICE Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 hours prior to the meeting. 6.J. - Page 2 of 12 316