Subject:
Title
Increase Appropriation with Davenport & Company LLC for 2022 Bond Issue Financial Advisory Services
Body
EXPLANATION AND SUMMARY:
On Feb. 28, 2022, the Vienna Town Council approved an appropriation to Davenport & Company, LLC for 2022 bond issue financial advisory services for $82,300. Regrettably, an amount for expenses such as printing costs and mileage were left off the PO. The additional amount is $765. The 2022 bond closing costs can accommodate this expenditure. Accordingly, the finance department requests approval to increase the appropriation for Davenport & Company, LLC by $765 to $83,965.
Strategic Plan Initiative: Vienna is a fiscally responsible community
Board or Commission of Interest: N/A
Departmental Recommendation: Approve increase in appropriation of $765 for 2022 bond issue financial advisory services to Davenport & Company, LLC.
Finance Recommendation: Recommend approval.
Purchasing Recommendation: Recommend approval
Town Attorney Recommendation: The Town Council may approve the proposed expenditure of funds in its discretion.
Town Manager's Recommendation: I recommend the Town Council approve an increase in appropriation to Davenport & Company, LLC for 2022 bond financial advisory services, as presented.
Cost and Financing: $83,965
Account Number: 300-000-0000-39400-48002
Decision Needed by This date: April 11, 2022
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to approve an increase in the appropriation to Davenport & Company, LLC for 2022 bond financial advisory services by $765 for a total of $83,965"
Or
Other action deemed necessary by Council.