HomeMy WebLinkAbout11 Willdan 2020 and 2021
AGENDA ITEM 11
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DATE: December 2, 2020
TO: Board of Directors
FROM: Michael R. Salmon, Chief Financial Officer
SUBJECT: Contract Approval: 2020 and 2021, Willdan Financial Services
APPROVED BY_______________________________
Michael R. Salmon, Chief Financial Officer
RECOMMENDATION:
a) Authorize 2020 Willdan Financial Services Contract Amount - $32,003.29
b) Authorize General Manager to contract for 2021 Willdan Financial Services – CFD
standard services, Contract Amount - $35,500.00
DISCUSSION:
Per District Code 3.08.050.2, procurement of special services in excess of $15,000
requires Board approval. Furthermore, special services do not require a formal request
for proposals process.
Willdan Financial Services (Willdan) provides highly specialized Community Facilities
Districts (CFD) financial administrative services for the three CFDs governed by the
District: Donner Lake Assessment District, Old Greenwood CFD, and Gray’s Crossing
CFD. The costs incurred are fully recovered through the District’s annual administrative
charge, as allowed for by the CFD’s governing documents.
Donner Lake Assessment District (DL) has 1,672 active parcels which are located within
two counties, Nevada and Placer. DL has one debt issuance and no material
delinquencies in assessments.
Old Greenwood CFD #03-1 (OG) has 1,311 active parcels, all in Nevada County. OG has
one debt issuance and no material delinquencies in assessments.
Gray’s Crossing CFD #04-1 (GC) has 419 active parcels, all in Nevada County. GC has
two bond debt issuances and material delinquencies specific to three undeveloped
parcels. The District is actively working on a debt restructuring for this CFD.
The 2020 and 2021 amounts indicated below are consistent with prior years amounts,
(+/- 5%).
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2020 Willdan Contract & Payments: Due to administrative error driven by personnel at
the District in 2019 & 2020, Willdan’s services contract for the three CFDs was not
formally approved by the Board. Payments were approved by the Board, as part of
monthly disbursements review and approval, a component of the Treasurer’s Report.
2020 amounts are as follows:
Description Payment
Date Donner Lake Old
Greenwood
Grays
Crossing Total
CFD FY 2019/20
Q3(jan-mar) 1/2020 $ 2054.87 $ 1910.00 $ 1825.97 $ 5790.84
2019 annual
Disclosure Fees 1/2020 0 1750.00 2350.00 4100.00
Delinquency
Letters txyr 1920 3/2020 569.70 31.10 233.25 834.05
CFD FY 2019/20
Q4(apr-jun) 4/2020 1967.84 1881.70 1816.67 5666.21
CFD FY 2020/21
Q1(jul-sep) 7/2020 2022.31 1867.15 1811.41 5700.87
Remind/Demand
Letters txyr 1920 8/2020 885.15 246.60 645.50 1777.25
Arbitrage Rebate 10/2020 2500.00 2500.00
CFD FY 2020/21
Q1(oct-dec) 10/2020 1957.23 1865.85 1810.99 5634.07
2020 Totals $ 9,457.10 $ 9,552.40 $ 12,993.79 $ 32,003.29
2021 Willdan Contract: Estimated Willdan CFD contract standard CFDs services
amounts for Board contract review approval:
Description Donner
Lake
Old
Greenwood
Grays
Crossing Total
CFD FY 2020/21 Q3 & Q4 $ 4000 $ 3800 $ 3600 $ 11,400
2020 annual Disclosure Fees 0 1800 2400 4,200
Delinquency Letters txyr
20/21 600 100 300 1,000
CFD FY 2021/22 Q1 & Q2 4000 3800 3600 11,400
Remind/Demand Letters txyr
2021 1000 300 700 2000
Arbitrage Rebate Not Required Not until 2022 Yearly(2) 2500 2500
Contingency 1000 1000 1000 3000
2021 Contract Totals $ 10,600 $ 10,800 $ 14,100 $ 35,500
The Gray’s Crossing CFD debt restructuring project will be presented to the Board for
review and approval as a separate project/contract. This is anticipated to be presented
to the Board in January.
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FISCAL IMPACT:
2020 – There is no net fiscal impact, as Willdan’s CFD services are recovered through
the CFD administrative fee charged to the CFD by the District.
2021 – There is no fiscal impact, as Willdan’s CFD services are recovered through the
CFD administrative fee charged to the CFD by the District.
ATTACHMENTS: None