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2100 RFQ 16/17-05 Raftelis (merger with PRMG)CIT SXRFOPM FINANCE DEPARTMENT PURCHASING DEPARTMEW TRANsMITTAL MEMORANDUM TO: City Clerk/Mayor Q \—) The item(s) noted below is/are attached and forwarded to your office for the following action(s): R Development Order ❑ Mayor's signature Ej Final Plat (original mylars) ❑ Recording R Letter of Credit ❑ Rendering F] Maintenance Bond Safe keeping (Vault) F] Ordinance ❑ Deputy City Manager ❑ Performance Bond ❑ Payment Bond ❑ Resolution E] City Manager Signature EJ F] City Clerk Attest/Signature R City Attorney/Signature Once completed, please: M Return originals to Purchasing- Department F-1 Return copies El Special Instructions: U*.dtie y 6oja&zi4ev- From SharePoint—Finance—Purchasing_Forms - 2018.doc Date REVISED AGREEMENT BY AND BETWEEN THE CITY OF SANFORD AND RAFTELIS/SOLICITATION NUMBER: RFQ 16/17-05 (MERGER WITH AGREEMENT WITH PRMG) THIS AGREEMENT (hereinafter the "Agreement") is made and entered into this day of August, 2019, by and between the City of Sanford, Florida, a Florida municipality, (hereinafter referred to as the "CITY"), whose mailing address is 300 North Park Avenue, Sanford, Florida 32771, and Raftelis Financial Consultants, Inc., a North Carolina corporation authorized to do business in the State of Florida, ("RAFTELIS" throughout)") whose Florida corporate address is 950 South Winter Park Drive, Suite 240, Casselberry, Florida 32707. The CITY and RAFTELIS may be collectively referenced herein as the "parties". WITNESSETH: IN CONSIDERATION of the mutual covenants, promises, and representations contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: Section 1. Recitals. (a). On June 10, 2019 the CITY was advised by letter that RAFTELIS substantially acquired another vendor of the CITY providing the same services provide for under the original Agreement between the parties; to wit: Public Resources Management Group, Inc. (PRMG). The said letter is attached hereto and incorporated herein by this reference thereto. (b). RAFTELIS hereby agrees to accept the liabilities and obligations of PRMG under its agreement with the CITY. The Parties hereby agree that both parties and PRMG are in good standing under their respective agreements. (c). The parties ratify and affirm all matters and actions taken under under their respective agreements and RAFTELIS hereby agrees to accept the liabilities and obligations of PRMG under its agreement with the CITY RAFTELIS hereby ratifies and affirms all matters and actions taken by PRMG under its agreement with the City. (d). The above recitals are true and form a material part of this Agreement upon which the parties have relied. Section 2. Authority. Each party hereto represents to the other that it has undertaken all necessary actions to execute this Agreement, and that it has the legal authority to enter into this Agreement and to undertake all obligations imposed on it. The persons executing this Agreement for each party certify that they are authorized to bind the party fully to the terms of this Agreement. _ _ _ l I1'ae Section 3. Scope of Agreement. This Agreement is for the services as set forth in RFQ 16/17-05 which include the procurement solicitation documents, the responses thereto from RAFTELIS (all of which are incorporated herein as if fully set forth herein verbatim) and it is recognized that RAFTELIS shall perform services as otherwise directed by the CITY all of such services to include all labor and materials that may be required including, but in no way limited to, the services provided by subconsultants as may be approved by the CITY within the amount of compensation to be paid to RAFTELIS. The services to be provided by RAFTELIS to the CITY generally related to consulting services related to financial forecast, rate determination, utility revenue bonds or other debt issuance. Specific services and compensation shall be agreed to by the parties by means of the issuance of work orders. Section 4. Effective Date and Term of Agreement. This Agreement shall take effect on the date that this Agreement is fully executed by the parties hereto. This Agreement shall remain in effect until the services to be provided by RAFTELIS to the CITY under each work order have been fully performed in accordance with the requirements of the CITY; provided, however, that, the indemnification provisions and insurance provisions of the standard contractual terms and conditions referenced herein shall not terminate and the protections afforded to the CITY shall continue in effect subsequent to such services being provided by RAFTELIS No services have commenced prior to the execution of this Agreement that would entitle RAFTELIS for any compensation therefor. This Agreement shall be a continuing agreement that runs year-to-year unless terminated by the CITY. Section 5. Compensation. The parties agree to compensation as set forth in each purchase order issued by the CITY. Section 6. Standard Contractual Terms and Conditions. All "Standard Contractual Terms and Conditions", as provided on the CITY's website, apply to this Agreement. Such Terms and Conditions may be found at the CITY's website (www.SanfordFL.gov). The parties shall also be bound by the purchasing policies and procedures of the CITY as well as the controlling provisions of Florida law. Work orders shall be used, in accordance therewith, in the implementation of this Agreement. Section 7. RAFTELIS' Mandatory Compliance with Chapter 119, Florida Statutes, and Public Records Requests. (a). In order to comply with Section 119.0701, Florida Statutes, public records laws, RAFTELIS must: (1). Keep and maintain public records that ordinarily and necessarily would be required by the CITY in order to perform the service. (2). Provide the public with access to public records on the same terms and conditions that the CITY would provide the records and at a cost that does not exceed the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law. 2 111 <t g c (3). Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law. (4). Meet all requirements for retaining public records and transfer, at no cost, to the CITY all public records in possession of RAFTELIS upon termination of the contract and destroy any duplicate public records that are exempt or confidential and exempt from public records disclosure requirements. All records stored electronically must be provided to the CITY in a format that is compatible with the information technology systems of the CITY. (b). If RAFTELIS does not comply with a public records request, the CITY shall enforce the contract provisions in accordance with this Agreement. (c). Failure by RAFTELIS to grant such public access and comply with public records requests shall be grounds for immediate unilateral cancellation of this Agreement by the CITY. RAFTELIS shall promptly provide the CITY with a copy of any request to inspect or copy public records in possession of RAFTELIS and shall promptly provide the CITY with a copy of RAFTELIS' response to each such request. (d). IF THE CONTRACTORIVEN DOR HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119, FLORIDA STATUTES, TO THE CONTRACTOR'S (VENDOR'S) DUTY TO PROVIDE PUBLIC RECORDS RELATING TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT (407) 688-5012, CYNTHIA PORTER, CITY CLERK, CITY OF Sanford, CITY HALL, 300 NORTH PARK AVENUE, SANFORD, FLORIDA 32771, PORTERC@SAN FORD FL.GOV. Section 8. Time is of the Essence. Time is hereby declared of the essence as to the lawful performance of all duties and obligations set forth in this Agreement. Section 9. Entire Agreement/Modification. This Agreement, together with all "Standard Contractual Terms and Conditions", as provided on the CITY's website, and including, without limitation, the exhibits hereto, constitutes the entire integrated agreement between the CITY and RAFTELIS and supersedes and controls over any and all prior agreements, understandings, representations, correspondence and statements whether written or oral in connection therewith and all the terms and provisions contained herein constitute the full and complete agreement between the parties hereto to the date hereof. This Agreement may only be amended, supplemented or modified by a formal written amendment of equal dignity herewith. Section 10. Severability. If any term, provision or condition contained in this Agreement shall, to any extent, be held invalid or unenforceable, the remainder of this Agreement, or the application of such term, provision or condition to persons or circumstances other than those in respect of which it is invalid or unenforceable, shall not be affected thereby, and each term, provision and condition of this Agreement shall be valid and enforceable to the fullest extent permitted by law when consistent with equity and the public interest. Section 11. Waiver. The failure of the CITY to insist in any instance upon the strict performance of any provision of this Agreement, or to exercise any right or privilege granted to the CITY hereunder shall not constitute or be construed as a waiver of any such provision or right and the same shall continue in force. Section 12. Captions. The section headings and captions of this Agreement are for convenience and reference only and in no way define, limit, describe the scope or intent of this Agreement or any part thereof, or in any way affect this Agreement or construe any provision of this Agreement. Section 13. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which, taken together, shall constitute one and the same document. Section 14. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the successors in interest, transferees and assigns of the parties. Each party hereto represents to the other that it has undertaken all necessary actions to execute this Agreement, and that it has the legal authority to enter into this Agreement and to undertake all obligations imposed on it. The signatories hereof represent that they have the requisite and legal authority to execute this Agreement and bind the respective parties herein. Section 15. Remedies. The rights and remedies of the parties, provided for under this Agreement, are in addition to any other rights and remedies provided by law or otherwise necessary in the public interest. Section 16. Governing law, Venue and Interpretation. This Agreement is to be governed by the laws of the State of Florida. Venue for any legal proceeding related to this Agreement shall be in the Eighteenth Judicial Circuit Court in and for Seminole County, Florida. This Agreement is the result of bona fide arms length negotiations between the CITY and RAFTELIS, and all parties have contributed substantially and materially to the preparation of the Agreement. Accordingly, this Agreement shall not be construed or interpreted more strictly against any one party. than against any other party and all provisions shall be applied to fulfill the public interest. 4111age IN WITNESS WHEREOF, the CITY and RAFTELIS have executed this instrument for the purpose herein expressed. ATTEST. CITY OF SANFORD &60 j► By: Traci Houchin, City Clerk, CMC, FCRM Jeff Triple City Clerk f, A14 Approved as to form and F-" M I legal sufficiency. fill V,Vi'lliam L. Colbert City Attorney ATTEST. lh-1111� Henry The(mas Vice President VF A RAFTELIS FINANCIAL CONSULTANTS, INC By. l=am Vd Anthony Hairston Vice President Dated: :1 Lz-/ 5 111 <i �, e 19 Public Resources Management Group, Inc. Utility, Rate, Financial and -Management Consultants June 10, 2019 Mr. William Marcous Utility Support Manager City of Sanford 300 North Park Ave., Room 205 Sanford, FL 32771 Subject: PRMG to become part of Raftelis Dear Mr. Marcous: We are pleased to announce that PRMG will be joining Raftelis, a national leader which provides financial, rate, organizational, technology, and strategic business consulting services to utilities and the public sector throughout the United States. Our work and values fit seamlessly within Raftelis, which has 16 offices nationally, including one in Orlando. We anticipate the acquisition closing on July 1, 2019, but we wanted to go ahead and let you know so that you are aware of our new business venture. What does this mean for you? With this change we reaffirm our commitment to drive value and provide you with superior service, only now powered by the considerable resources and capabilities of Raftelis. There will be no change in the project team that currently serves you or how we will provide service, everything will be the same. What does this mean for us? Our entire staff will become part of the Raftelis family! Our office remains in Maitland, and we will continue to lead this dedicated and talented team under Raftelis. What services does Raftelis provide? Raftelis' capabilities enable us to offer clients a broader range of services and we will now have the bench strength of nearly 100 consultants. Raftelis' experience working with hundreds of 341 N�JRTII SI.t\ITLAND 1VENUF. — SI TITF. 300 — �ri:;iTI, ! D. I I. 32 51 TEL: (407) 623-2600 o FAX: (407) 623-261() prnigtiprmpainc.com a v.'%'N'sv.prm0iizc.c0n1 City of Sanford Page 2 June 10, 2019 utilities and public -sector clients across the nation means we can easily connect our clients to the answers they need. Raftelis provides the following services: • Rate, Charge, and Fee Studies for both the Utility and Local Government Sectors • Affordability Analysis and Program Development • Financial Planning • Capital Improvement Planning/Prioritization • Bond Feasibility Studies and Debt Issuance Support • Stormwater Utility Development and Support • Economic and Financial Evaluations • Organizational, Governance, and Operations Optimization • Performance Measurement and Benchmarking Our story continues... • Strategic Planning • Strategic Communications and Public Outreach • Billing, Permitting, and Customer Information Audits • Data Management, Analytics, and Visualization • Utility Acquisition and Transition Services, including Utility Start-up Services • Utility Expert Witness Services in support of Local Governments • Water and Wastewater Extension Programs and Development Services • Software Solutions Rob and I set out 25 years ago to provide value to our clients in the public sector. Our mission has always been to assist our clients' in solving their problems by providing client -oriented service and comprehensive analyses that support utility management and public officials in making important strategic business decisions. Our ultimate objective being that the client receives value from the services we provide. This is also Raftelis' mission. Joining forces with a firm as passionate about public sector success as we are will take us into the next chapter of our story. Stay tuned to see where our growth and innovation takes us from here. Thank you! I want to take this opportunity to thank you for putting your trust in us over the last 25 years and bringing us to where we are today; we could not have done it without you. Our commitment to you is stronger than ever during this exciting time. City of Sanford Page 3 June 10, 2019 Attached to this letter is a document that will allow us to assign your current contract to Raftelis effective July 1, 2019. As we discussed, we are requesting that you execute the assignment to ensure the continuation of service. Sincerely, Public Resources Management Group, Inc. Henry L. Thomas Senior Vice President Attachment AGREEMENT BY AND BETWEEN THE CITY OF SANFORD AND PRMG/SOLICITATION NUMBER: RFQ 16/17-05 THIS A&tE ENT (hereinafter the "Agreement") is made and entered into this day of 2017, by and between the City of Sanford, Florida, a Florida municipality, (hereinafter referred to as the "CITY"), whose mailing address is 300 North Park Avenue, Sanford, Florida 32771, and Public Resources Management Group, Inc., a Florida corporation, ("PRMG' throughout)") whose address is 341 North Maitland Avenue, Suite 300, Maitland, Florida 32751. The CITY and PRMG may be collectively referenced herein as the "parties". WITNESSETH: IN CONSIDERATION of the mutual covenants, promises, and representations contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: Section 1. Recitals. The above recitals are true and form a material part of this Agreement upon which the parties have relied. Section 2. Authority. Each party hereto represents to the other that it has undertaken all necessary actions to execute this Agreement, and that it has the legal authority to enter into this Agreement and to undertake all obligations imposed on it. The persons executing this Agreement for each party certify that they are authorized to bind the party fully to the terms of this Agreement. Section 3. Scope of Agreement. This Agreement is for the services as set forth in RFQ 16/17-05 which include the procurement solicitation documents, the responses thereto from PRMG (all of which are incorporated herein as if fully set forth herein verbatim) and it is recognized that PRMG shall perform services as otherwise directed by the CITY all of such services to include all labor and materials that may be required including, but in no way limited to, the services provided by subconsultants as may be approved by the CITY within the amount of compensation to be paid to PRMG. The services to be provided by PRMG to the CITY generally related to consulting services related to financial forecast, rate determination, utility revenue bonds or other debt issuance. Specific services and compensation shall be agreed to by the parties by means of the issuance of work orders. Section 4. Effective Date and Term of Agreement. This Agreement shall take effect on the date that this Agreement is fully executed by the parties hereto. This Agreement shall remain in effect until the services to be provided by PRMG to the CITY under each work order have been fully performed in accordance with the requirements of the CITY; provided, however, that, the indemnification provisions and insurance provisions of the standard contractual terms and conditions referenced herein shall not terminate and the protections afforded to the CITY shall continue in effect subsequent to such services being provided by PRMG No services have commenced a e prior to the execution of this Agreement that wouleementthatn runs year-to-year unless therefor. This Agreement shall be a continuing ag terminated by the CITY. Se I ction 5. Compensation. The parties agree to compensation as set forth in each purchase order issued by the CITY. Section 6. Standard Contractual Terms and Conditions. applyt dConditions", as provithe CITY's website, to this provided on Contractual Terms and found und at the CITY's website Agreement. Such Terms and Conditions may y the purchasing policies and (www. Sanford FL.g ov). The parties shall also be bound b ns of Florida law. Work orders procedures of the CITY as well as the controlling provisio shall be used, in accordance therewith, in the implementation of this Agreement. Section 7. PRMG's Mandatory compliance with Chapter 119, Florida Statutes, and Public Records Requests. (a). In order to comply with Section 119.0701, Florida Statutes, public records laws, PRMG must: (1). Keep and maintain public records that ordinarily and necessarily would be required by the CITY in order to perform the service. (2). Provide the public with access to publand at a cost that does not exceed ic records on the same terms and conditions that the CITY would provide the records the cost provided in Chapter 119, Florida Statutes, or as otherwise provided by law. (3). Ensure that public records that are exempt or confidential and exempt from public records disclosure requirements are not disclosed except as authorized by law. (4). Meet all requirements for retaining public records and transfer, at no cost, to the CITY all public records in possession of a Reconfidential and cexempt and destroy any duplicate public records that e exempt or from public records disclosure requirements. All records storedthe information electronicaltechnology ly must be provided to the CITY in a format that is compatible with systems of the CITY. (b). if PRMG does not comply with a public records request, the CITY shall enforce the contract provisions in accordance with this Agreement. (c). Failure by PRMG to grant such public access and comply with public records requests shall be grounds for immediate unilateral cancellaticopy of on of this Agreement by the CITY. PRMG shall promptly provide that he CITY with a any request to inspect or copy public records in possession such andshall promptly provide the CITY with a copy of PRMG's response to each request. 2 1 P (d). RIVENDOR HAS QUESTIONS IF THE CONTRACTOR- PTER 1`191 THE APPLICATION OF CHA REGARDING To THE CONTRACTOWS FLORIDA STATUTES, UTY TO PROVIDE PUBLIC RECORDS (VEND-OR'S) D RECQRDS ACTCONTACTHE RELATING To THISCUSTODIAN OF PUBLIC AT (407) 688-5012, ER, CITY CLERK, CITY OF Sanford, CITY CYNTHIA PORT RK AVENUE, SANFORD, FLORIDA HALL, 300 NORTH PA 32771, pORTERC@SANFORDFL.GOV. -by declared of the essence Section 8. Time is of the Essence. Time is here as to the lawful performance of all duties and obligations set forth in this Agreement Entire Ag as This Agreement, together ITY's Section iermsandCod' as provided on the Cwith all ,Standard Contractual nstitutes theetiwebsite, and including, withoutimitation, the exhibits hereto, co between the CITY ndingMGaprses and controls over integrated agreement ements, underss, representations, correspondence and any and all prior agreements, oral in connection therewith and all the terms and statements whether written or agreement between the provisions contained herein constitute the full and complete agree parties hereto to the date hereof. This Agreement may only be amended, supplemented or modified by a formal written amendment of equal dignity herewith. provision or condition contained in Section i0- Severability. if any term, prov le, the remainder of 1, to any extent, be held invalid or unenforceable, this Agreement shall, h term, provision or condition to persons or this Agreement, or the application of such circumstances other than those in respect of which it is invalid or unenforceable, shall not be affected thereby, and each term, provision and condition of this Agreement shall be valid and enforceable to the fullest extent permitted by law when consistent with equity and the public interest. to insist in any instance upon Section 11. Waiver. The failure of the CITY exercise any right or the strict performance of any provision of this Agreement, or to exnstrued as a waiver privilege granted .to the CITY hereunder shall not constitute or be co of any such provision or right and the same shall continue in force. s of this Agreement Section V. Captions. The section headings and caption are for convenience and reference only and in no way define, limit, describe the scope or intent of this Agreement or any part thereof, or in any way affect this Agreement or construe any provision of this Agreement. 3 1 P a 24 Section 13. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which, taken together, shall constitute one and the same document. Section 14. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the successors in interest, transferees and assigns of the parties. Each party hereto represents to the other that it has undertaken all necessary actions to execute this Agreement, and that it has the legal authority to enter into this Agreement and to undertake all obligations imposed on it. The signatories hereof represent that they have the requisite and legal authority to execute this Agreement and bind the respective parties herein. Section 16. Remedies. The rights and remedies of the parties, provided for under this Agreement, are in addition to any other rights and remedies provided by law or otherwise necessary in the public interest. Section 16. Governing law, Venue and Interpretation. This Agreement is to be governed by the laws of the State of Florida. Venue for any legal proceeding related to this Agreement shall be in the Eighteenth Judicial Circuit Court in and for Seminole County, Florida. This Agreement is the result of bona fide arms length negotiations between the CITY and PRMG, and all parties have contributed substantially and materially to the preparation of the Agreement. Accordingly, this Agreement shall not be construed or interpreted more strictly against any one party. than against any other party and all provisions shall be applied to fulfill the public interest. IN WITNESS WHEREOF, the CITY and PRMG have executed this instrument for the purpose herein expressed. h ATTEST. C-yntll.-a Pei4ff City Clerk Approved as to form and legal sufficiency. William L. Colbert City Attorney CITY OF SANFORD By: _ Jeff Triplett Mayor Date: 3, 4 1 P a e A 4Men L. �honm�as Director Vice President -/Secretary/ -–_ — _- -- - 5\pug,c City of Sanford, Florida Consulting Services Related to Financial Forecast, Rate Determination, Utility Revenue Bonds or Other Debt Issuance Public Resources Management Group, Inc. 341 North Maitland Avenue Suite 300 Maitland, FL 32751 www.PRMGinc.com (407) 628-2600 Contact: Mr. Henry L. Thomas HThomasgPRMGinc.com December 8, 2016 Scan With Your Phone to Learn More About PRMG. Title Page Table of Contents Letter of Transmittal Section 1 Firm Qualifications and Capabilities..................................................................................1-1 Section 2 Past Experience of the Firm...............................................................................................2-1 Figure A: General Services and Related Project Experience Matrix (2010-2015) .............2-3 Figure B: Utility Rate Study and Financial Services...................................................... 2-10 Figure C: Utility Indebtedness/Bond Feasibility Experience .......................................... 2-20 Figure D: Regulatory/Expert Witness Experience.......................................................... 2-34 Figure E: Utility Acquisition and Transactions.............................................................. 2-42 Section 3 Qualifications, Abilities and Work Histories of Personnel.................................................3-1 Table 3-1: Representative Projects for the Project Team .................................................... 3-4 Letters of Recommendation Section4 Project Approach................................................................................................................ 4-1 Project Team Resumes Section5 Fee Structure and Price.......................................................................................................5-1 Section 6 Required Forms Form 1 — Response Transmittal Form Form 2 — Insurance Requirements Form 3 — Non Collusion Affidavit Form 4 — Conflict of Interest Affidavit Form 5 — Florida Statutes on Public Entity Crimes Affidavit Form 6 — Compliance with the Public Records Law Affidavit Form 7 — Respondents Business Information Affidavit Form 8 — Certification of Non -Segregated Facilities Form Form 9 — Disputes Disclosure Form Form 10 — Drug Free Workplace Form Form 11 — Similar Projects Form Certificate of Liability Insurance Automobile Liability Insurance Letter PRMG Certificate of Status 2016 Florida Profit Corporation Annual Report Scan With Your Phone to Learn More About PRMG. December 8, 2016 City of Sanford Purchasing Division 300 N. Park Avenue Sanford, FL 32771 Public Resources Management Group, Inca Utility, Rate; Financial and 114anagetnent Consultants Subject: RFP 16117-05 — Consulting Services Related to Financial Forecast, Rate Determination, Utility Revenue Bonds or Other Debt Issuance Ladies and Gentlemen: Public Resources Management Group, Inc. (PRMG) is pleased to submit the attached proposal in response to the City of Sanford Florida's RFP 16/17-05 — Consulting Services Related to Financial Forecast, Rate Determination, Utility Revenue Bonds or Other Debt Issuance. Our submittal is based upon our understanding of the utility financial planning and rate consulting service needs as set forth in the City's RFP, and our experience in' providing similar services to the City since 1999. We believe our proposal demonstrates how we can provide the City's required utility financial planning and rate consulting services in a timely, efficient and professional manner and that we are committed to achieving these goals. The persons authorized to make representations for PRMG are Robert J. Ori, President, and Henry L. Thomas, Senior Vice President. As a result of increasing demands on all aspects of utility operations, escalating costs to meet customer service demands and regulatory requirements, and satisfying the needs of the various utility system stakeholders, the City of Sanford is facing complex rate, financial, and management issues. The role of sound financial management, rate administrative practices, and effective strategic planning to support decision-making in this environment is critical to the City's continued success. During the last twenty-two years, Public Resources Management Group, Inc. (PRMG) has worked closely with. City and County -owned utilities to develop and refine its utility rate and financial planning process, and we have assisted our clients in successfully implementing numerous rate programs to achieve strategic planning, financial, and rate administrative objectives. Key challenges facing the City include: i) capital investment needs to address the requirements of the water, wastewater, and reclaimed system growth; ii) maintaining appropriate levels of ongoing capital reinvestment for long-term sustainability; and iii) balancing rate affordability with the increased expenditure needs of the City, recognizing the effects of inflation, regulatory compliance, capital funding needs, City Commission directives, and other factors. In order to help address these challenges, the City has requested proposals to provide annual rate studies that review the adequacy of water, sewer, and reuse water rates and charges, including compliance with Bond Covenants, and funding operating and capital investment needs based on rates that are fair and equitable. The services to be provided will include a review of historical operations and current rate administrative issues, the development of projections of future financial obligations, cost of service analyses, and the design of rates. 341 NORTH MAITLAND AVENUE — SUITE 300 — MAITLAND, FL 32751 TELEPHONE: (407) 628-2600 a FAX: (407) 628-2610 ® EMAIL: pang@prmginc.com WEBSITE: wvvvv.pnnginc.com City of Sanford Purchasing Division December 8, 2016 Page 2 Our goal in providing utility rate consulting services to the City is to provide value by facilitating sound decision -malting and analyzing alternative utility business solutions that enhance and sustain utility operations. As part of achieving our goal for this engagement, PRMG will provide an electronic copy of the utility rate and financial model to the City staff that will support our rate and financial recommendations, and will allow for cost effective and timely annual updates. The major qualifications offered by PRMG include: PRMG is an industry leader in assisting publicly -owned utilities develop utility rate and financial plans and issue debt to finance capital improvement projects. The firm has been involved in over 1,500 projects on behalf of over 160 clients, including the issuance of over $5.6 billion in utility revenue bonds for publicly -owned utilities and preparation of numerous capital finance plans for Department of Environmental Protection State Revolving Fund loans. PRMG has extensive experience in assisting municipal utility systems address ratemaking issues based on cost of service principles that recognize our client's water conservation goals. Our professional staff regularly contribute to the development of utility industry rate and financial practices and standards through involvement in industry trade organizations, such as the American Water Works Association's Rates_ and Charges Committee, and the Government Finance Officers Association. We affirm our commitment to assist the City of Sanford in successfully achieving its critically important goals and meeting project schedules and deadlines in a cost-effective and professional manner. As Senior Vice President of the firm, and the proposed project manager for the engagement, I will be the signatory to any contract documents executed with the City (Henry L. Thomas, 341 North Maitland Avenue, Suite 300, Maitland, Florida 32751, phone 407-628-2600, Hthomas@prmginc.com). We thank you for allowing us to submit our proposal for your consideration, and look forward to the opportunity to continue to be a trusted advisor to the City. Very truly yours, Public Resources Management Group, Inc. �x Henry L. Thomas Senior Vice President xr. Firm Background Public Resources Management Group, Inc. (PRMG) is an established utility, financial, and management consulting firm that specializes in financial and strategic planning, and management consulting services to the public utility sector with clients in Florida and throughout the United States. Our office is located at 341 North Maitland Avenue, Suite 300, Maitland, Florida 32751, approximately fifteen (15) miles from the City's offices. All of PRMG's employees are at this location. The firm's personnel have extensive experience in utility rates, finance, economics, accounting, cost of service analysis, impact fees, and utility resource planning, which we believe brings a unique combination of skills and experience to serve our clients with the utmost level of quality. Consulting Services Provided PRMG provides a full range of financial, rate, and management consulting services to publicly -owned utilities and local governments. Our clients include water, wastewater, electric, gas, Stormwater, and solid waste utility systems. The firm has provided consulting services on behalf of over 160 clients including municipal, cooperative and county -owned utility systems, community development and special purpose districts, authorities, and not-for-profit utility corporations. The services provided by PRMG include: ® Utility Rate and Cost of Service Studies • Capital Finance and Bond Feasibility Studies • Water and Wastewater Impact Fees • Rates and Policies for Reclaimed Water Service Water Conservation Rates • Utility System Acquisitions • Wholesale Rate Studies and Service Agreements Contract Negotiations, Developer Agreements/Uniform Extension Policies 11 Litigation Services and Expert Testimony 1-1 • Strategic Business Planning Services • Rates for Stormwater, Solid Waste, Electric, and Gas Services Computer Modeling for Rate and Financial Planning Professional Staff PRMG is led by two principals that have directed a wide variety of consulting projects for numerous public utility clients. They have a combined seventy-six years of experience as utility business analysts. PRMG's principals also have direct experience working in a utility operating environment. They have been involved in numerous public meetings, including meetings with stakeholder groups, citizens' advisory committees, town hall meetings, public workshops and public hearings before councils, commissions and boards. PRMG's experience includes over 1,600 individual rate and financial planning projects conducted by the firm since 1994. With respect to the services we have provided in Florida, as can be seen in Figure 1-1, PRMG has extensive experience in providing utility rate and financial consulting services to local governments in Florida. Figure 1-1 7 77777 77 .,....,ateMR, Section 1— Firm Qualifications and Capabilities (continued) A summary of the PRMG professional staff members and their years of utility experience and certifications is provided below. PRMG Years utilization and availability, Staff lklembers Experience Position Robert J. Ori, CPA 38 President Henry L. Thomas 38 Senior Vice President Murray M. Hamilton, CPA 14 Associate Thierry A. Boveri, CGFM 12 Associate Jeffrey M. Wilson 26 Supervising Consultant Bryan A. Mantz, CMC, CGFM 16 Supervising Consultant Shawn A. Ocasio 7 Rate Consultant K. Ryan Smith 6 Rate Consultant Loveenia Gulati 5 Senior Rate Analyst Matthew N. Ori 5 Senior Rate Analyst Nicholas 1'. Smith 3 Senior Rate Analyst Stephanie Long I Rate Analyst Mark Tuma I Rate Analyst Firm Abilities and Capabilities PRMG has provided utility rate, financial, and management consulting services to over one hundred and sixty (160) local governments, serving over four (4) million people throughout the United States since 1994. Our clients include publicly -owned water, wastewater, stormwater, solid waste, electric, and natural gas utility systems located in Alabama, Georgia, Florida, Indiana, New Hampshire, Virginia, and the U.S. Virgin Islands. PRMG's utility business analysts have a reputation for providing valuable guidance in the development of rate and capital financing strategies, providing support for system acquisitions and other critical business decisions, and developing financial, rate, and service policies and practices. Our engagements emphasize client communication and involvement, and we utilize computer modeling technology to interactively analyze, review, and develop business plans with our clients. The quality of service provided by PRMG has led to many long-term client relationships. We are Leaders in the Industry With respect to the preparation of utility capital funding plans and the preparation of feasibility studies in support of the issuance of bonds, we are leaders in the industry. We understand the credit rating information requirements, and that the report must focus on the following criteria: 1-2 ® System Characteristics — capacity utilization and availability, service area demographics and wealth, affordability. • Financial Characteristics — debt service coverage and rate covenant compliance, liquidity, operating margins, and capital re -investment practices. ® Management Issues — rate setting practices, financial policy compliance, and capital planning. Our staff members are actively involved in state and national industry trade associations, and have made numerous presentations at state and national conferences, as well as published papers in industry trade journals. Members of our proposed project team have contributed to reviewing and developing utility industry -wide rate and financial practice standards through their involvement in national organizations, such as the American Water Works Association's (AWWA) Rates and Charges Committee. For example, we are currently contributing authors assisting in the update of the AW WA's M-29 Manual (Fundamentals of Water Utility Capital Financing), and the M-54 Manual (Developing Rates for Small Systems). Also, our senior partners and project staff have been awarded the AWWA Management and Leadership Division Best Paper Award in 2013 and 2014. The topics of these publications included, "Utility Rates and the Political Environment," and "Utility Impact Fees, Practices and Challenges." Several members of our firm have been recently selected to be contributing authors for the update of AWWA's M-1 Manual (Water Rates). Our involvement in these industry trade organizations keeps us abreast of utility industry trends and issues at the national and state level. We are Independent Advisors PRMG's team of rate and financial consultants has an excellent reputation for providing independent bond feasibility studies relied upon by regulators, bond investors, and credit rating agencies. Our work with our clients' financial advisors, bond S. ME:Sf"r.��2,,�3T"_h—.T"SY _ A'r'S3'9s'.r-me `� Section 1— Firm Qualifications and Capabilities (continued) counsel, disclosure counsel, and various underwriters have earned us a reputation for excellence in this area of our practice. As an advisor to our clients, PRMG has assisted in the structuring of the debt requirements to limit impacts on rates, drafted revised language for Bond Resolutions/Trust Agreements to assist the client in meeting rate covenant/flow of fund requirements from an accounting perspective, and have assisted in credit rating agency presentations. We have learned what is required for the successful issuance of bonds through our detailed review of the rating agency process and disclosure requirements, working with public utilities in the development of utility budgets, financial forecasts, capital planning documents, and working with elected officials in the development of financial plans and rates. We are Detail -Oriented We are known for our in-depth analysis, understanding of utility rate and financial issues, and business acumen. Our goal is to provide sound business advice and workable solutions based on a thorough understanding of our clients' needs. Our comprehensive utility rate and financial planning computer model formalizes the utility rate and financial planning process, and allows us to identify key assumptions, variables, and financial performance metrics in a thorough and cost-effective manner. We Have a Proven Track Record We consistently exceed our client's expectations and demonstrate that we care about providing high quality and valuable services, which are consistently delivered on time and within budget. We have a demonstrated passion for helping our clients succeed. Our project team's outstanding track record is best evidenced by the number and duration of the long-term client relationships we have maintained, and the amount of repeat business we do, including working for the City for the past seventeen (17) years. Litigation History PRMG has never had a contract terminated since the firm's inception in 1994. PRMG has never been 1-3 involved in any lawsuits relative to the services performed, or failed to perform, since the firm's inception in 1994. 4! i v ;►ection 2 — Past Experienceof In order to represent our past experience to the City, we are providing schedules that highlight PRMG's experience in providing services related to utility rate studies, revenue bond feasibility studies, expert testimony on rates (including private -utility rate regulation), and financial matters (e.g., bond validation hearings). All of the activities shown on Figures A through E, at the end of this section, were managed by the principals of the firm and performed by PRMG staff. As can be seen on these Figures, the PRMG team has significant experience in providing the utility rate and financial services required by the City. ® Figure A: General Services and Related Project Experience ® Figure B: Utility Rate Study and Financial Services • Figure C: Utility Indebtedness/Bond Feasibility Studies m Figure D: Regulatory/Expert Witness Experience ® Figure E: Utility Acquisition and Transactions The following is a brief explanation of the information contained on Figures A through E. General Services Provided by PRMG — Figure A is a summary of the various services provided by PRMG during the last five years that summarizes not only the financial and rate consulting services provided by PRMG that are similar to those requested by the City, but also other services that demonstrate the experience of the PRMG team. Utility Rate Study and Financial Services — Figure B summarizes our experience in providing rate and revenue sufficiency analyses for public utilities. Services include preparation of detailed customer forecasts and billing analyses, identification of expenditure requirements to be funded from rates, development of capital improvement funding plans, evaluation of financial 2-1 performance targets and policy development, design of water, wastewater, and reclaimed water rates, miscellaneous service charges, capacity or service availability fees, development of presentations and participating in the public hearing process for rate approval, assistance in drafting of rate ordinances and resolutions, and other related services. Utility Indebtedness/Bond Feasibility Studies — Figure C summarizes our experience with utility revenue bond issues. Services that were provided include development of financial forecasts and bond feasibility studies, additional bonds test analyses, bond compliance evaluations, providing assistance in drafting of bond resolutions and other financing documents, presentations before credit rating agencies and bond insurance companies to assist in presenting utility credit in support of issuance of bonds, preparing capital finance plans in support of securing funds from low-interest State Revolving Fund loan programs, and providing bond compliance/secondary disclosure services for ongoing surveillance by credit rating agencies. Regulatory/Expert Witness Experience — Figure D summarizes PRMG's experience in providing expert testimony and litigation support for utility rate and financial matters. Services have included bond validation hearings, impact/capacity fee challenges, wholesale service agreement issues, and other activities. The rate regulation activities have included the evaluation of operating expenses, taxes, depreciation expenses, rate base, revenues and the rate of return to be earned on utility investment on behalf of public agencies that regulate investor-owned utilities. Utility Acquisition and Transactions — Figure E summarizes our extensive experience in the evaluation of utilities and other programs. PRMG has been involved in over sixty (60) transactions involving over one hundred and forty (140) separate utility systems representing local governments. This experience includes the performance of financial due diligence on the utility business being acquired, providing an estimate of value recognizing the debt capacity, income (going RTS.„w ..� Section 2 — Past Experience of the Firm (continued) concern), and comparable sales methods. We have also participated in contract negotiations on behalf of the local government, providing transition services to bring the acquired utility business into public ownership, and providing public information presenting the acquisition at public hearings before the City Councils/County Commissions in accordance with Florida Statutes. 2-2 rl LPI s o' > aC GU 0 O N 'CL at ocea, u � v i q! N d ft 41 mCL obi v LU to 'I Z m c . tx m o m u a4 @ 4 "'y.. 0 co LL N C +� H •L {Q \> y+ �i w dl � T L t6 I .L 1 :m 1 V 12 E d N W � V C LL U- LL J S y O ;N V- + O C J LL O {up co J LL T W 'Lv i N A O- ¢ v O 's. Oco O V a. to tU. Q O O u. ur .0 ++ Ln En. O o Q w tJ <L u t— u CO w m L,1 : lU tl..1 :u C� N 11 c c 0 of 0 C uj C c ho MA t: c , t =C MCL 0 CL m 40 CL 'A Lu Z u- E m: cm �stw r- Ru to to iv z L; - r E 40 m C C 0 u Q M to M > to L 1=0 E U. 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VI tao S': v ,a+,, cr 0 o' 'a N MUM UTILITY RATE STUDY AND FINANCIAL. SERVICES City of Alexandria Renew Enterprises, Financial Forecast & Revenue Sufficiency Analysis, & Computer Model, 2008-2016 Virginia Rate Study & Restructure Analysis, Ongoing Consulting Services City of Apopka, Florida Water, Wastewater and Reclaimed Water Rate Study; Utility Rate Study 2007, 2009, and Bond Issue, Financial Services Assistance; Municipal Impact Fee 2015 Study City of Arcadia, Florida Water & Wastewater Rate Study, Capital Finance Plan & State Revolving 2011 Fund Loan Services Ascension Parish, Louisiana Wastewater Management Plan Development 2012 City of Auburn, Alabama Wastewater Rate Study & Solid Waste Collection Rate Study 2008, 2011 Town of Bedford, New Hampshire Water and Wastewater Rate Study 2006 City of Baca Raton, Florida Water & Wastewater Revenue Sufficiency Analysis, Stormwater & 2006, 2007, Wastewater Financial Feasibility Report, Wastewater Availability Fee 2008, 2011, Study 2015 Bonita Springs Utilities, Inc., Florida Water & Wastewater Rates, Aid to New Construction Fees, Reclaimed 2001-2012, Water Rates, Miscellaneous Charges, Bond Feasibility Report, Cost 2016 Apportionment Analysis - Bonita Springs Golf & Country Club and Fountain Lakes, Review of Member Credit Program Boone County REMC, Indiana Electric Rate Study, Financial Planning 2002, 2010 Brevard County, Florida Water and Wastewater Rate Study, Bond Feasibility Report 2014 City of Cape Coral, Florida Water, Wastewater, and Irrigation Impact Fee Study 2015 Water & Wastewater Rate Study, Revenue Bond Feasibility Studies, 1996-2016 Impact Fee Studies, Wholesale Water & Sewer Rates & Utility Acquisition Services, Water Sales & Franchise Agreements, Sanitation Rate Review Citrus County, Florida Water & Wastewater Rate Study, Financial Feasibility Studies, 2001-2016 Acquisition Studies, Long -Range Business Plan, Water Conservation Rate Analysis for Pine Ridge Service Area, Rate Evaluation City of Clermont, FloridaMunicipal Services Impact Fee & Utility Impact Fee Study 2013 City of Cocoa Beach, Florida Stormwater Rate Analysis 2015 2-10 Collier County, Florida City of Cooper City, Florida Crossings at Fleming Island CDD, Florida City of Crystal River, Florida City of Dania Beach, Florida City of Daphne, Alabama City of Daytona Beach, Florida DeSoto County, Florida Water & Wastewater Rate & Impact Fee Study, Wholesale Wastewater 2002-2016 Rates, General Fund Transfer Analysis, Bond Feasibility Report, General Rate Services, Solid Waste Rate, Financial Forecast, Alternative Impact Fee Calculation, Reclaimed Water Program and Policies Services, Recreational Services Fees and Policies Water & Wastewater Rate Study, Financial Forecast with Rate Analyses, 2001 Water Conservation Rates 2007-2013 Water & Wastewater Rate Study, Bond Feasibility Report, Litigation Support Services Wholesale Wastewater Rate Analysis Water & Wastewater Rate Study, Wholesale Wastewater Rate Study Water & Wastewater Rate Study Water, Wastewater, and Stormwater Revenue Sufficiency Study, Meter Replacement Analysis, Wholesale Rate Analysis, SRF Loan Capital Finance Plan, Water and Wastewater Impact Fee Study Water & Wastewater Rate & Impact Fee Study/Resolution Development Utility Rate, Impact Fee Study Public Hearing Attendance Utility Rate Consulting Services, Water & Wastewater Rate Study, Utility System Rate and Impact Fee Study Dunes Community Development Water, Wastewater, Effluent Disposal (irrigation) Rate Design, Utility District, Florida Consulting Services City of Edgewater, Florida Encore, CDD, Florida Englewood Water District, Florida Credit Rating Submittal, Bond Feasibility Report (Green Bonds), General Consulting Services Water, Wastewater, Refuse and Stormwater Rate Study Chilled Water Rate Study 2006, 2009, 2013 2015 2004, 2007 2009 2002, 2012-2016 2007, 2008, 2010 1999-2013, 2015 2008, 2016 2012, 2015 2015 2012 Financial Consulting Services - Evaluation of Financial Impact Associated 2001-2006 with Septic Tank Replacement Program, Developing a Mandatory Connection Policy, Wastewater Financial Services, Utility Acquisition Services, Capital Connection Fees 2-11 Enterprise Community Development District, Celebration, Florida City of Eustis, Florida Fairfax County, Virginia Flagler County, Florida Florida Governmental Utility Authority, Florida Florida Keys Aqueduct Authority, Florida Fort Pierce Utilities Authority, Florida Village of Golf, Florida Graniteville, South Carolina (Peachtree investment Solutions, Inc.) Greater Pine island Water Association, Inc., Florida City of Haines City, Florida aIII I ji� 11 Water & Wastewater Rate Study, Water, Wastewater & Reuse Rate Study, Rate Compliance Water & Wastewater Rate & Impact Fee Study/Business Plan, Stormwater Rate Study, Eastern System Evaluation, Utility Rate Study Wastewater Revenue Sufficiency Analysis & Financial Forecast, Review of Wastewater Treatment Contracts, Acquisition Services, Availability Fees, Prepared Wastewater Capacity Sale & Lease Agreement, Miscellaneous Services Utility Acquisition Services and Water and Wastewater Revenue Sufficiency Analysis, General Consulting Services Utility Acquisition and Transition Services, Water & Wastewater Impact Fees, General Rate Services, Reclaimed Water Rates, Line Maintenance Fee, Revenue Sufficiency Analysis, Bond Feasibility Reports Water Rate Study/Water Bond Feasibility Report, Wastewater Feasibility Service, Utility Acquisition Analysis, Sewer Bond Feasibility Reports/Rule Making Activities, General Water & Wastewater Rate Services, Water Rate Restructure Analysis Electric, Water, Wastewater & Gas Rate Studies; Impact Fee Studies, Wholesale Water & Wastewater Rates, Economic Analyses, General Utility Consulting Services Water and Wastewater Rate Study Water and Wastewater Rate Study, Impact Fees, Miscellaneous Fees Financial Plan for Reservoir Acquisition and Redevelopment Plan Development of Water Rate Studies & Other Miscellaneous Services Water & Wastewater Rate & Impact Fee Study, Reclaimed Water/Impact Fees, Wholesale Water Rates, Stormwater Utility Rate Study, State Revolving Fund Loan Application, Reclaimed Water Rate Study 2-12 2003, 2005, 2008, 2013, 2014 2003-2006, 2007, 2009, 2015 2006-2016 2013-2015 2000-2016 1999-2013 1996-2016 2006 2015 2016 1999-2011 2000-2014 UTILITY RATE STUDY AND FINANCIAL SERVICES City of Hallandale Beach, Florida Municipal Impact Fee Study, Alternative Water Supply Financial Analysis, Water & Wastewater Impact Fee Study, Stormwater Utility Rate Study Utility Revenue Sufficiency Analysis, Bond Feasibility Report, Solid Waste Financial Forecast Model, Septage Fee Analysis, Reclaimed Water Analysis Town of Highland Beach, Florida Water and Wastewater Rate Study immokalee Water & Sewer District, Florida City of Inverness, Florida JEA (Jacksonville), Florida City of Lakeland, Florida City of Lake Mary, Florida Utility Financial & Water, Wastewater, and Reclaimed Water Rate Services, Cost of Service Rate Analysis, Franchise Utilities Acquisition Services, Capital Finance Plan, Capital Management Program, Utility Strategic Plan, Franchised Utility Rate Consulting Services - Sunset Plaza (Staff Assisted Rate Study) & Windemere Utilities (Formal Rate Study), Bond Feasibility Report and Drafting of Bond Resolution Modifications, Solid Waste Financial Forecast Water and Wastewater Rate Sufficiency Analysis, Water and Wastewater Rate Study Water & Wastewater Rate Study Water & Wastewater Cost of Service Study, Acquisition & Consulting Services, Pass-through Billing, Water, Sewer & Reclaimed Water Utility Systems Rate Consulting Services, General Consulting Renewal and Replacement Fund Deposit Level Analysis, Financial Forecast Model Assistance, Water Impact Fee Renewal and Replacement Fund Deposit Level Analysis, Water and Stormwater Financial Forecast Model Assistance, Water Impact Fee 2004-2008, 2011, 2014 2015 2016 1995-2016 2003, 2012 2012 2003-2005, 2008, 2014 2006-2015 2000-2015 Startup Wastewater Treatment Plant Evaluation, Wastewater Utility 2003-2005, Consulting Services, Wastewater Utility Rate Study, General Consulting 2007, 2009, Services, Wastewater Rate Study, Wastewater Revenue Sufficiency 2012 Analysis Comprehensive Rate Impact Fee and Cost of Service Study 2009-2016 Water and Sewer Rate Study, Police and Fire Services Impact Fee 2008 Update, Develop Retail Reclaimed Water Rate & Miscellaneous Services, Recreation Impact Fee Update, Water Conservation Rates 2-13 B UTILITY RATE STUDY ANIS FINANCIAL SERVICES City of Lake Worth, Florida City of Leesburg,Florida Town of Leesburg, Virginia City of Longwood, Florida Town of Longboat Key, Florida Loudoun Water, Virginia Manatee' County, Florida City of Marco island, Florida Margate, Florida Marianna, Florida Water Rate Study, Water Conceptual Design Report, Wastewater Rate 2002-2004, Analysis, Bond Financing Project, Impact Fee Analysis, Stormwater and 2008, 2011 Solid Waste Assessment Study Utility Acquisition & Bond Financing, Water & Wastewater Rates, 1999-2016 Impact Fees, Reuse Rates, Wholesale Water & Wastewater Rates & Miscellaneous Charges, Waterway Estates WWTP Evaluation, North Fort Myers Utilities, Inc. Financial Evaluation, Water & Wastewater Revenue Sufficiency Study, General Utility Consulting Services, Development of Utility and Solid Waste Financial Policies, Solid Waste Forecast and Rates Water & Wastewater Rate Study, Utility Impact Fees, Municipal Impact 2002, 2007, Fee, Water & Wastewater Wholesale Rate Analysis, Bond Feasibility 2013, 2014 Report Water and Wastewater Rate Study 2014 Water and Wastewater Rate Study, Impact Fees, Wholesale Sewer Rates 2015 Water & Wastewater Rate Study & Annual Updates, Miscellaneous 2004-2016 Charges, Wholesale Water Agreement, General Fund Cost Allocation Study, Water & Wastewater Miscellaneous Services Charges, Annual Wholesale Purchase, Pass -Through Analyses Financial Forecast & Revenue Sufficiency Analysis, Capacity Fees, 2009 Computer Model, Rate Design Utility Rate Study 2015 Water & Wastewater Rate and Impact Fee, Bond Feasibility Report, 2006-2016 Deep Injection Well Disposal Rate, Line Extension Policy, Chilled Water Rate Consulting Services Water and Wastewater Rate Study and Utility Impact Fees, Water 2002-2014 Conservation Rates, Acquisition Services, Bond Feasibility Report and Bond Resolution assistance, Wastewater Assessment Services, Wholesale Service Rates & Agreement, Miscellaneous Rate & Financial Services Alternative Water Supply Financial Analysis, Water & Wastewater Rate 2008-2010, Study, Debt Service Coverage Compliance, Rate of Return Evaluation 2015 Water and Wastewater Rate Study 2001 2-14 PUBLIC RESOURCE MANAGEMENT GROUP, INC, UTILITY RATE STUDY AND FINANCIAL SERVICES City of Melbourne, Florida City of Mexico Beach, Florida Miami -Cass REMC, Indiana City of Miramar, Florida City of Mount Dora, Florida Newton County Water and Sewerage Authority, Georgia North Sumter County Utility Development District, Florida City of Oakland Park, Florida City of Ocala, Florida City of Ocoee, Florida rinancial Forecast, Bond Feasibility Report & Water & Wastewater Rate Study, Capital Program Rate Revenue Sufficiency Analysis, Solid Waste Tipping and Collection Fee Forecast and Rates, Managed Competition Assistance, Utility Acquisition Services, General Consulting Services Supplemental Rate Analysis & Interlocal Agreement - Stuart/Martin, Water/Wastewater Extension Program Evaluation Revenue Sufficiency Report for Bond Financing, Municipal Impact Fees, Water & Wastewater Impact Fees, General Service Rate Restructure, Ongoing Rate & Financial Services, SRF Capital Facilities Plan SRF Capital Facilities Plan, Water & Wastewater Rate Study, Municipal Impact Fee Analysis Electric Rates Cost of Service Studies Year Completed 2004-2016 2004 1996-2011 Revenue Sufficiency Analysis, Water & Wastewater Rate Study, 1998, Municipal Impact Fee Study, Bond Feasibility Report, Stormwater Rate 2003-2016 Sufficiency Study, Water & Wastewater System Financial Forecast Rate Sufficiency Analysis Water & Wastewater Rate Study, Electric System Power Cost 2003, 2004, Adjustment, Water & Sewer Impact Fee Study, Water and Sewer Rate 2015 Study Water and Wastewater Rate Study, Wastewater Disposal Land 2013-2016 Application Analysis, Late Fee Analysis, Large User Fee Analysis Utility Rate Studies, Transportation & Fire Non -ad Valorem Assessment 2004-2016 Fee, Water & Wastewater Rate & Impact Fee Studies, Solid Waste Collection Fee Study, Water & Wastewater User Rate Study Update, Update of Highway & Drainage Methodology, US Highway 41 Corridor Study (Capital Funding); User Rate, Cost of Service, Capacity Fee and Guarantee Revenue Charge Analysis Financial Due Diligence/ Evaluation for Solid Waste System Acquisition and Water, Sewer and Irrigation System Acquisition Water and Wastewater Utility Rate Study, Solid Waste Rate Study Water & Wastewater Rate Studies, Stormwater Rate Study Utility Acquisition Services, Impact Fees, Bond Feasibility Studies Utility Revenue Sufficiency Analysis, Revenue Sufficiency Model Update, Utility Rate and Cost of Service Study, Reclaimed Water Rate Analysis 2-15 2012, 2014, 2015 2007, 2013, 2016 2000-2015 2007, 2012, 2014 PUBLIC RESOURCES MANAGEMENT GROUP, INC. UTILITY RATE STUDY AND FINANCIAL SERVICES Okeechobee Utility Authority, Florida Water & Wastewater Rate Studies, Impact Fees, Capital Expansion 2003-2014 Analysis, Water & Wastewater Financial Forecast, Bond Feasibility Report, Water & Wastewater Capital Connection Charge Study, Expert Testimony City of Oakland Park, Florida Water & Wastewater Utility Rate Study, Solid Waste Rate Study, Water 2007, 2013, & Wastewater Financial Forecast, Bond Feasibility Report, Wholesale 2014 Water and Wastewater Fee Analysis, Water and Sewer Impact Fee Study City of Oldsmar, Florida Water, Sewer & Reclaimed Water Rate Studies, Water Resource 2001-2013, Planning, Impact Fees 2015 City of Opelika, Alabama Water & Wastewater Rate Study 2009 Orange City, Florida Water, Wastewater & Reclaimed Water Rate Study 2013 City of Orlando, Florida Wastewater Rate Study 2016 City of Oviedo, Florida Water & Wastewater Rate Study, Reuse Rates, Guaranteed Revenue 2002-2013 Fees & Financial Forecasting Services, Utility System Business Plan, Acquisition Services, Bond Feasibility Report City of Palm Bay, Florida Water, Wastewater & Reclaimed Water Rate Study, Water Demand 2009-2015 Study City of Palm Coast, Florida Acquisition Services, Wholesale Water & Wastewater Rates, Impact 2003-2016 Fees, Water Conservation Rates, SRF Capital Facilities, Bond Feasibility Report, Annual Rate Sufficiency Review, Wastewater State Revolving Loan Application Services, Stormwater Utility Cost Recovery Study City of Palm Springs, Florida Water, Wastewater Rate & Fee Study, Utility & Rate Consulting Services 2007, 2010, 2013 City of Panama City, Florida Water & Wastewater Rate Study, Impact Fees, Miscellaneous Charges, 2003-2015 Bond Feasibility Report, Municipal Impact Fees City of Panama City Beach, Florida Water & Wastewater Impact Fees, Municipal Impact Fees, Financial 2000-2013 Services, Stormwater Feasibility Study, General Consulting Services Pasco County, Florida Feasibility & Economic Viability of Utility System Acquisition, Review of 2003, 2007, Rate Admin. Practices, Utility Consulting Services — Aloha Acquisition, 2008 Utility Consulting Services — Other Utility Acquisitions Pine Island Community Development Utility Finance Plan/Water & Wastewater Rate Development/Utilities 2004, 2015 District, Florida Policies, Wholesale Water and Wastewater Service Rate Analysis 2-16 PUBLIC RESOURCES MANAGEMENT GROUP, INC., UTILITY RATE STUDY AND FINANCIAL. SERVICES City of Pinecrest, Florida, City of Sunny Isles Beach, Florida City of Plant City, Florida City of Plantation, Florida Polk County, Florida City of Part Orange, Florida Putnam County, Florida RegionalUtilities of Walton County, Inc., Florida City of Riviera Beach, Florida City of Sanford, Florida South Walton Utility Company, Inc., Florida Stafford County, Virginia City of Stuart, Florida City of St. Augustine, Florida Electric Gross Receipts Tax Evaluation Water, Wastewater, Solid Waste Rate & Impact Fees, Stormwater Rate Study Water/Wastewater Rate Consolidation Study, Water & Wastewater Rate Update, Water and Wastewater Impact Fee Study Water, Wastewater, and Reclaimed Rate Study, Impact Fees, Regional Utility Acquisition Services Water, Wastewater, Reclaimed Water Rate Study Rural Development Loan Feasibility Analysis for Jail Expansion Water & Wastewater Rates & Impact Fees, Transmission Wheeling Rate, Wholesale Wastewater Rates, Bond Feasibility Study Water & Wastewater Financial Forecast Supporting Master Plan, Water and Wastewater Rate Study, Bond Feasibility Study Water & Wastewater Rate Study, Revenue Bond Feasibility Study, Water & Wastewater Impact Fees, Stormwater Feasibility 2005, 2012 2003-2008 2002-2013 2013-2016 2015 2012 2000-2014 2013, 2015, 2016 1999-2016 Water & Wastewater Rate Study, Wholesale Wastewater Rate Analysis, 2000-2016 Utility Acquisition Services, Financial Planning Services - Evaluating the Feasibility of Performing a Septic Tank Replacement Program, Water Resource Planning Services, Contract Negotiations, Financial Models for Stormwater and Fleet, Bond Feasibility Report, Utility Consultant for Franchised Utility Regulation Water & Wastewater Rate Study, Water & Wastewater Impact Fee Study Utility Rate Study, Availability Fees, Wholesale Water Rate Analysis, Revenue Sufficiency Update Customer Connection Policy, Water & Wastewater Rate Study, Financial Planning Updates, Customer Service Policies, Wholesale Wastewater Rate Analysis, Reclaimed Water Rate Study, Solid Waste Rate Study Service Area Evaluation for Potential Sale, Water and Wastewater Rate Study, Impact Fee Analysis, State Revolving Fund Loan Capital Program 2-17 2001, 2004, 2007, 2011 2013-2016 2002-2016 2011, 2015, 2016 UTILITY RATE STUDY ARID FINANCIAL SERVICES Descrimicin 6f Services St. Lucie West Services District, Florida Bond Feasibility Report Acquisition Services, Water, Wastewater, and Irrigation Revenue Sufficiency Update and Review City of St. Mary's, Georgia Financial Forecast, State of Utility Report City of Sunrise, Florida City of Tampa, Florida Village of Tequesta, Florida City of Titusville, Florida City of Valdosta, Georgia Town of Vernon, Connecticut Litigation Support Services — Wholesale Wastewater Rates, Annual True -up Analysis (since 2002), Wastewater & Reuse Rate Study, Wastewater Model Recreational Revenue Bonds, Series 2005; Recreational Revenue Bonds, Series 2007; Utility and Solid Waste Financial Services - Acquisition Water & Wastewater Rate Study, Natural Gas Rate Review, Bond Feasibility Study, Reclaimed Water Analysis; Water Rate Consolidation Analysis, Comprehensive Revenue Sufficiency and Financial Forecast Model Water & Wastewater Rate Studies, Annual Reports, Bond Feasibility Studies, Solid Waste Study Utility Revenue Sufficiency and Rate Adequacy Study Water & Wastewater Rate & Impact Fee Studies, Annual Rate Review, Water Resources Planning Financial Forecast, Bond Feasibility Report Irrigation Quality Rates Wastewater Rate Study, Wholesale Rate Review — Litigation Services Water and Wastewater Study Litigation Services —Wholesale Wastewater Issues Utility Rate Consulting Services, Electric Rate Study, Water & Wastewater Rate Study, Wastewater Disposal Rate, New Wastewater Treatment Plant Rate Impact Analysis, Stormwater Utility Analysis Virgin Islands Water and Power Water and Electric Rate Regulation Services Authority 2-18 2000-2016 2012 2001-2016 2005-2015 2000-2016 2005-2016 2015 2001-2015 2015 2011 2008-2011, 2015 2012, 2015 2001 2009-2011, 2014, 2015 1996-2016 Volusia County, Florida Waterworks Board of the City of Auburn, Alabama City of Waycross, Georgia City of West Palm Beach, Florida City of Winter Garden, Florida City of Winter Springs, Florida ITFITUCTa Financial Analysis Services; Water, Wastewater & Reclaimed Water Rate Study, Water & Wastewater Rate Studies & Financial Plans Water Rate Study, Drought Management Rates Water, Wastewater, & Reclaimed Water Rate Sufficiency Analysis & Rate Study, Impact Fees, Wholesale Service Report 2000, 2006, 2007-2012 2009, 2011 2010 Water & Wastewater Rate Study, Capital Reserve Fees, Water, Sewer, 1994-2009 Recreation Impact Fees, Miscellaneous Charges, Annual Development of Utility & Solid Waste Budgets, Solid Waste Cost of Service Rate Study, Assistance in Preparing Bid Documents for Implementation of Solid Waste Collection Services, Annual Review of Solid Waste Non -Ad Valorem Assessment, Planning, Zoning, & Building Department Fees Water/Wastewater/Stormwater Rates Studies, Impact Fees, Wholesale 1994-2016 Water Rates & Miscellaneous Charges; Bond Feasibility Reports, Secondary Disclosure Report Municipal Impact Fees, Water & Wastewater Rate Studies, Stormwater 2001-2015 Rate Study, Solid Waste Rate Study Water / Wastewater & Stormwater Rates, Reclaimed Water Rates, 2002-2014 Capacity Reservation Fees & Miscellaneous Charges; Stormwater Rate Evaluation, State Revolving Fund Loan Application 2-19 FIGURE C PUBLIC y di r MANAGEMENT q Y ; 1 i ` BOND FEASIBILITY 2-20 uUtifty Alam lmllmvemei t District, Fl, ' $22,355, utility System Revenue Water and Wagstewater System Refunding 4 Improvement Bonds, Series Capital Improvements / Refunding of Outstanding Buds flay County, FL $34,120,000 mater System Revenue Water Capital Improvements Bonds, Series 210 Refunding of Outstanding Bonds Bonita Springs utilities, Inc, Fl, Lee County Industrial Development Wastewater System Capital Authority $30,000,000 utility System Improvements f Refunding of Revenue Bonds, Series 21'211 Outstanding Bonds Lee County Industrial Development Water System Capital Improvements Authority $31,070,000 utility System Revenue Bonds, Series 2004A Lee County Industrial Development Wastewater System Capital Authority $26,160,000 utility System Improvements Revenue Bonds, Series 20040 Lee County industrial Development Refunding Water and Wastewater Line Authority $49,310,000 utility. System of Credit Revenue Bon, Series 2010 (Bonita Springs utilities, Inc.,) arevard county, FL $25,47S, Water and Wastewater Water and Wastewater Capital Utility Revenue Bonds, Series 2014 improvements city of Callaway, Ft $20,435,000 Capital Improvement Water and Sewer System Capital Revenue Bonds, Series M7 Improvements Charlotte County, K $59,370,000 utility System Refunding Refunding of Outstanding Bonds Revenue Bonds, Series 1996A $1,680,000 utility System Revenue utility System Capital Improvements Bonds, Series 19%4 Note Refunding $34.M,000 utility System Refunding Refunding of Outstanding Bonds Revenue Bonds, Series 2006 $64,900,00Q utility System Refunding Refunding of Outstanding Bonds Revenue Bonds, Series 2011 2-20 FIGURE C PUBLIC y RESOURCES MANAGEMENT 4 , 2-21 arlotte County Industriat slo'"Aw utility system Revenue Water and Sewer System Capital Development Authority, K Bonds, Series 2015 (Town and Country Improvements Utilities Project) citrus county, FL WAX,= Water & Wastewater utility Acquisition, Water and System Revenue Bonds, Series 2007 Wastewater Capital improvements $44,485,OW Water & Wastewater Water and Wastewater Capital System Revenue and Revenue Refunding Improvements and Refunding of Bonds, Series 2016 Outstanding Bonds Collier City Water -Sewer $13,72€I,000 Taxable Water & Sewer Refunding of Outstanding Bonds District, Fl, Refunding Revenue Bonds, Series 2003A $33,630,000 Water & Sewer Refunding Refunding of Outstanding Bonds Revenue Bonds, Series ZW311 $110,165,000 Water & Sewer Revenue Water and Wastewater Capital Bonds, series 2006 Improvements `own of 04v1q, FL $46,245,000 hater and Sewer Revenue Water and Wastewater Capital Bonds, Series 201Q (Federally Taxable Improvements Build America Bonds — Direct Subsidy) $49,930,000 Water and Sewer Revenue Water and Wastewater Capital Bonds, Series 2011 Improvements $28,190,000 mater and Sewer Revenue Water and Wastewater Capital Bonds, series 2812 Improvements $12,830,000 Water and Sewer Bank Loan Refunding of Outstanding Water and (2013) Sewer Refunding Revenue Bands East Central Regional Wastewater $86,590,000 Wastewater Treatment Wastewater System Capital Treatment Facilities Operation Facilities Revenue Bonds, Series 2014 Improvements Board (Green Bonds) (Biowlids Project) FaIrW County, VA $152,25$,000 Sewer Revenue Bonds, Wastewater Capital Improvements Series 2009 Florida Community Services AM= Water & Sewer Revenue Water and Wastewater Capital Corporation of tin County. F.. Bonds, Series 23 improvements 2-21 UTILITY INDEBTEDNESS / BOND FEASIBILITY EXPERIENCE r, „ %14,095,WQ Water & Sewer Revenue Water and Wastewater Capital Corporation of on County, Ft, Bonds, Series 2006 Improvements (Continued) Florida Governmental utility $29,350,OW utility Revenue Bonds utility, acquisition, hater and Authority, Ft (Golden Gate System), Series 1999 wastewater Capital Improvements $28,035,0utility Revenue Bonds utility Acquisition, water and (polotlana System), Series 1999 Wastewater Capital improvements $17,300,000 utility Revenue Bonds utility Acquisition, water and (Sarasota System), Series 1999 Wastewater Capital Improvements $17,135, utility Revenue Bonds utility Acquisition, water and (Barefoot Bay System}, Series 1999 Wastewater Capital Improvements $1%605,OW utility Revenue Bonds water and wastewater Capital (Poinciana System), Series 2001 Improvements $9,S8 000 utility Revenue Brands water and wastewater Capital (Sarasota System), Series Z1 Improvements $42,315,000 utility Revenue Brands Water and wastewater Capital (Lehigh utility System), Series 2M Improvements $21,8 MWO utility Revenue Bonds water and Wastewater Capital (Citrus utility System), Series 2003 Improvements W,W,00Q utility Revenue Bunds Water and W►astewater Capital (Golden gate System), Series 2WS Improvements $25,795,000, utility Revenue Bonds, water and Wastewater Capital (Lehigh System), Series ZM Improvements $23,750,000 wastewater Bank qualified Water and Wastewater Capital Borrowing (Poinciana System) (MS) Improvements $62,440,0W utility Revenue Bonds utility Acquisition, water and (North kart Meyers utility System), Series Wastewater System Capital 2010 (Series 2010A (Tax Tempt) and improvements Series 20108 (Federally Taxable -Build America Bonds — Direct Subsidy)) 2-22 FIGURE C PUBLIC RESOURCES MANAISEMENT 6ROUP, INC. UTILITY INDEB rr AII&MM $2.760,QW Taxable Utility Refunding Revenue Bonds (Aloha Utility System), Series 2014A $121,145,000 Utility �Refunding Revenue Bonds (Aloha Utility System), Series 20108 (Federally Taxable - Build America Bond$ - Direct subsidy) $6,315,000 Utility �Refunding Revenue 00ft0s (Golden Ciate UtIIttySV$temL Series 2010 $12,S35,0W- Lifiliti Refunding Revenue Bonds (Lehigh Utility system), 'Series 2010 szow,000 utility �Reveaue Bonds (Consolidated Utility system), Series 2012A Refunding of Outstanding Variable Bank Loan, Water and Wastewater Capital Improvements Refunding of outstandingvariable Bank Loan, Water and Wastewater Capital Improvements Water and Wastewater Capital - Improvements and, Refunding of Outstanding Bonds, improvements and Refunding of outstanding Bonds Utility, Acquisition, Water and Wastewater System Capital Improvement $705-000 Taxable Utility Revenue Bonds UtilityAcquisition, Establish Working(Consolidate(Utillty�$ysteM)erjes Capital and Rate Stabilization 20120 $20,27s,utility Refunding Revenue SoOds (Golden Gate Utility System), Series 2012 $31-084),00QUtility -Refund4ij Revenue Bonds (Lehigh Utility SWWM), Series 2012 ki� $1.7,495,OW U01 Revenue Bonds (take Aqua Utility System), Series 2013A $595,000 Taxable Utility �Revenue Bonds (lake Aqua Utility System), Series 20130 $19,675,OW, U44 Revenue �Bonds (Pasco Aqua Utility, system), Series 2013A 2-23 Refunding of outstandingBonds Refunding of Outstanding Bonds Utility Acquisition, Water and Wastewater Capital Improvements Utility Acquisition, Water and Wastewater Capital Improvements Utility Acquisition, Water and Wastewater Capital Improvements FIGURE C PUBLIC r RESOURCES MANAGEMENT GROUP, UTILITY INDEBTEDNESS i FEASIBILITY EXPERIENJ 2-24 Flori PUBLIC RESOURCES MANA , GEMENT GROUP, INC. UTILITY INDEBTEDNESS $9,151AM State Revolving tears, (2W9) '**,QW,QW Bond Anticipation Notes, I ot", series 200:1 $17,700,0M Capital Improvement Revenue smis" series 2M $41,045,Wo Water, & -Sewer Revenue Bonds, series am $20,800,000 Junl0f Lien SWAP Transaction, June Z001 $18,035,000 Utility Revenue �Bonds Series 2010A ( Pax iExempt) $110,245,0W Utl* �Re"nues"ds' Series 20108 (Federally Taxable — Build America Bonds, Dk1Kt payment) $21,700,OMUtility _Revenue �Bonds, Series 20100 (Federally Taxable — Recovery Zone Economlc Development Bonds— Direct paymentl $207,795,006 utility -Re"" Revenue Bonds, Serieszon 0 Solid Waste and Resource Recovery Refunding Revenue Bonds, Series 2016A (AMT} T25.220,00-0iolid—Waste and Re—source Recovery, Refunding Revenue Bonds, Series 20160 (NONAMT) $69,925, Utility -System Refunding & Improvement Revenue Bonds, Series 2004 $134,615,061 Water and �Sewer Revenue Bonds, Series 19 , 99A 2-25 Wastewater System capital Improvements Water and WastewaterCapital Improvements Utility Acquisition— and Construction Account Utility Acquisition, Water and Wastewater Capital Improvements Refunding (Bond Resolution -Review and Rating Agency Projections) Water and WastewaterCapital Improvements Water and Wastewater —capital Improvements Water and Wastewater Capital improvements Water and Wastewater Capital Improvements Refundingof04—tstanding Bonds Refunding of Outstanding Bonds Refunding of Outstanding Bonds, Water Capital Improvements Utility Acquisition, Water and Wastewater Capital Improvements FIGITIRE PUBLIC RESOURCES MANAGEMENT 2-26 Lee county, FE (continued) $57,240,000 Water and Sewer Refunding Utility, Acquisition, Water and Revenue Bonds, Series 2003A Wastewater Capital Improvements $9,285,000 Water and Severer Revenue Water and Wastewater Capital Bonds, Series 20038 Improvements $74,85S,000 Water and Sewer Refunding Refunding of Outstanding Bands Revenue Bonds, Series 2822 $19,990,000 Water and Sewer Refunding Refunding of Outstanding Bonds Revenue Bonds, Series 2012A $7,490,000 Water and Seaver Refunding Refunding of Outstanding Bonds Revenue Bonds, Series 20120 $53,755,03 Water and Sewer Revenue Water and Wastewater Capital Bonds, Series 2013A improvements $39,440,000 Water and Sewer Refunding Refunding of Outstanding Bonds Revenue Bonds, Series 20130 $66,160,000 Solid Waste System Refunding of Outstanding Bonds Refunding Revenue Bunds, Series 2016 (AIT) City of keesburg, PL $21,010,000 Utility System Refunding Refunding of Outstanding Bonds Revenue Bonds, Series 2013 Manatee County, Ft. $17,925,000 Federally Taxable, Direct hater and Wastewater Capital Payment — Public Utilities Revenue Improvements Improvement Build America Bonds, Series 2010A. $45,300,000 Federally Taxable — 0irect Water and Wastewater Capital Payment — Public Utilities Revenue Improvements Improvement Recovery Zone Economic Development Bonds, Series 20100 $6,720,000 Public Utilities Revenue Water and Wastewater Capital Improvement Bonds, Series 20100 Improvements $01,190,000 Taxable Public Utilities Water and Wastewater Capital Revenue Improvement Bonds, Series Improvements 20100 2-26 FIGURE C PUBLIC RESOURCES MANAGEMENT GROUP, INC. UTILITY INDEBTEDNESS / R1 ii 11 $91,48S,000 public Utilities Revenue Refunding and Improvement Bonds, Series 201,5 $101,115,066 Utility �System Revenue Bonds, Series 2003 $S0,475, Tax -Exempt �utility System Improvement & Refunding Revenue Bonds, Series 2010A $7,365,000 Taxable Utility System Refunding Revenue Bonds, Series 20108 4taMSAW Utility System Refunding Revenue Bonds, $.Orle$ 2013 $32,85Q,W0 Consolidated �Utlfifles System Refunding & Improvement Revenue Sonds, Series 1994 Water and Sewer Capital Improvements, Refunding of Outstanding Bonds Utility Acquisition, Water and Wastewater Capital Improvements Water and Sewer ca—plial InlPfovements, Refunding of Outstanding Bonds Refunding of outstanding Bonds Refunding Of Outstanding Bonds Water and Wastewater —Capital Improvements / Refunding n $2`5"�W'o Water & Wastewater System Water and Wastewater Capital 11 "=f, Improvements Revenue Bonds (Martin /?owns System), Improvements Series, 1996 Utilities . System Revenue Bonds, Series 2001 -,4u#4-'W,W0 Utilities system Revenue sond!!6 series, ZM $3,345,000 -State Revolving loan (20041 $ 7, "Q, Q06ReVe`"—Ue$-0—nd—$— � , Series 209,4 $28,675,066 Revenue 00"(15, Series 20098 $47,760,066 Utilities �System Refunding Revenue Bonds, Series 201.6# 524,625,000 Utilities System Refunding, Revenue Bonds, Series 20160 (Taxablel 2-27 Water and Wastewater —Capital Improvements Water and Wastewater Capital Improvements Wastewater System Line -Extenswas Utility, Acqujsjtjon Water 'and Wastewater Capital Improvements, Refunding Of outstanding Bonds Water Capital Improvements and Of Outstanding Bonds Refunding Of Outstanding Bonds T=- PUSUC RESOURCES MANAGEMENT GROUP, 2-28 City of urne, F1, 03,730.OW Water & Sewer Refunding & Water and Wastewater Capital Improvement Revenue Bonds, Series Improvements, Refunding of 2004 Outstanding Bonds $27,100,000 Water and Sewer Water & Wastewater Capital Improvement Revenue Bonds, Series Improvements 20078 of h, Ft, $2,983,00 State Revolving Loan (1939) Water System Capital Improvements CAY of War"T'. p1 $59,780,000 Wastewater improvement Wastewater System Capital Assessment Bonds, Series, 2994 Improvements $11,715,000 Water Improvement Water System Capital Improvements Assessment Bands, Series 1998 $13,830,000 Utility System Refunding & Water and Wastewater Capital Improvement Revenue Bonds, Series Improvements, Refunding of 2004 Outstanding Bonds $46,040,000 Utility System improvement Water and Wastewater Capital Revenue Bonds, Seder ZW7 Improvements CRY of North Port, yl $9,800,000 0 Utility System Revenue Water and Wastewater Capital Bonds, Series 2M Improvements City of Oaklandarlfi, FL $17,175,000 Water and Sewer Revenue Water and Wastewater Capital Bonds, Series 2012 Improvements city of Ovleda, fl $3,709,586 State Revolving Loan (2M) Reclaimed dater Capital improvements $S,$SW,00Q Utility Revenue Bonds, Series Utility Acquisition, Water and 2010A Wastewater Capital Improvements $30,820,000 Taxable Utility Revenue utility, Acquisition, Water and Bonds, Series 20104 (Federally Taxable, Wastewater Capital improvements Build America Bonds direct Subsidy) City of Palm Coast, p1 $%,650,000 Utility System Revenue utility Acquisition, Water and Bonds, Series 2003 Wastewater Capital Improvements 2-28 FIGURE C PUBLIC RESOURCES MANAGEMENT a GROUP, UTILITY INDEBTEDNESS r FEASIBILITY EXPERIENJ 2-29 • .. city of Palm Coast, fk ntinued) $49,,0W utility System Revenue Water and Wastewater Capital Bonds, Series 2007 improvements $2,784,010 State Revolving Loan -- Wastewater Capital Improvements WW9€1302S (2 $13,218,448 State Revolving Loan — Wastewater Capital improvements WW9 S ( $7,520,713 State Revolving loan — Reuse Wastewater Capital improvements 903050 (2 009) $5,881,807 State Revolving Loan — Wastewater Capital Improvements Biosodids 90M (2 1 $89,600,000 Utility System Improvement Water and Wastewater Capital and Refunding Revenue Bonds, Series Improvements, Refunding of Zo13 Outstanding Bonds My of Panama dty, F $6,460,000 Revenue Refunding Bonds, Bonds Refundit of Outstanding Bonds Series zom $4,980,000 Revenue Bonds, Series 20036 Water and Wastewater Capital Improvements City of Panama City Beate, FL, $28,725, Utility Revenue Bonds, 2009 Utility Acquisition, Water and Wastewater Capital improvements $19,M.OM Utility System Revenue Water and Wastewater Capital Bonds, Series 2002 improvements $17,939,000 State Revolving; loan (20€ 0) Wastewater System Capital Improvements $14,285, State Revolving loan (2002) Wastewater System Capital Improvements Pine Island Community $8,030,000 Utility System Bonds, Series Water and Wastewater Capital Development District, Fl, 2004 Improvements. $22,780,000 Special Assessment Bonds, Water, Wastewater and Stormwater Series 2004 Capital Improvement 2-29 FIGURE C PUBLIC RESOURCES MANAGEMENT S + i Tit > o i t • M 2-30 Polk County, FL $53,630,000 Utility System Revenue and Water and Wastewater Capital Refunding Bonds, Series 201$ Improvements, Refunding of Outstanding Bonds Putnam County, FL $17,10„580 USDA Rural Development County Jail Expansion Loan City of Riviera Beach utility Spedal $33,205,000 Water and Sewer Revenue Water and Wastewater Capital District” FL Bonds, Series 2016. Improvements C4 of Sanford, FL $12,450,000 Utility System Revenue Refunding of Outstanding Bonds Refunding Bonds, Series 2003 $18,&W,000 State Revolving Loan— Wastewater System Capital WW5$6250 (2007) Improvements $2,600,0ao State Revolving Loan — Wastewater Capital Improvements WW590100 (2010) Sarasota county,, FL $77,235,000 Utility System Revenue Refunding of Outstanding Bonds, Fiend Refunding Bonds, Series M2C Resolution Modification, Rating Agency Presentation, Rarity Certificate Assistance `:,490 kltility, System Revenue Refunding of Outstanding Bonds Refunding Bonds, Series 2005A $44,650,000 Utility System Revenue Water and Wastewater Capital Bonds, Series 2007 Improvements a,000 Utility System Revenue Water and Wastewater System; Capital Bonds, Series 2010 (Federally' Taxable - Improvements Build America Bonds - Direct .Subsidy) $13,425,000 Utility System Revenuer. Refunding of Outstanding Bonds Refunding Bonds, Series 2011A $4,435,000 Utility System Revenue Refunding of Outstanding Bonds Refunding Bonds, Series 20110 $35,604,000 Utility System Revenue Utility Act#uisiton, Water and Bonds, Series 2013 Wastewater Capital Improvements 2-30 FIGURE C PUBLIC RESOURCES MANAGEMENT GROUP, INC, UTILITY INDEBTEDNESS / BOND FEASIB ILITY EXPERIENCE W,015,QW Utility System Revenue Refunding Bonds, Series 20160 U4,465,000 Utility Revenue Refunding Bonds, Series � , 2000 (Senior Lien Bonds) $9,855,000 Utility —R—evenue �Bonds, Se"10-5 M (Subordinate Lien, Bonds) $11,455.000 44111—tyRevenue eondi' Series 2004 $24,OW,O — - W (ItIllij Revenue Refunding Bonds, Series 2011 (Senior Liens Bonds) $53,08SAW, Recreational Revenue Bonds, Series 20QSA $11,915,000 Subordinate �Recreational Revenue Bonds, Series 200se $320,905,0mTaxable Senior Recreational Revenue Bonds, Series 2016 $30,905,000 Taxable Subordinate — Recreational Revenue Bonds, Series 2016 Utility System Revenue Bonds, Seri" 2010A Refunding of outstanding Bonds Water and Wastewater Capital IMPrOvements/Note, Retirement Utility Acquisition Payment Finalization Water and Wastewate— r. System capital Improvements Refunding Of Outstanding —Bonds Recreational Facilities Acquisition Recreational Facilities Acquisition Recreational Facilities Acquisition. Recreational Facilities —Acquisition Water and Wastewater —capital Improvements $93,915,OW Utility System Revenue, Winter and Wastewater capital Revenue Improvements Bonds, Federally Taxable:Serfes 2-70108 Improvements (Build AmerKa Bonds - Otrect payment) $4,740,000 Utllltisystem�Revenue Refunding Bands, Series 20100 $121,050,OW, water and �Sewer Improvement and Refunding Revenue Bonds, Series 2011 Refunding Of Outstanding Bonds Water and Wastewater —Capital improvements, Refunding of Outstanding Bonds $x,915,' Water Revenue Bonds, ser�*s Winter System Capital Improvements 19 2-31 FIGURE C PUBLIC RESOURCES OW AA GROUP, UTILITY INDEBTEDNESS BOND FEASIBILITY 2-32 bite CroSingf, llerting Island $2i1,9Q1?,i>4Q utility Refunding Revenue Refunding of Outstanding Bonds Cornmur "13evelopment Bonds Series 2007 District, FI, Tehopekalip Winter Authority, Ft, $41,875,000 utility System Revenue utility Acquisition, Water and (Osceola County) Bonds, Series 20038 wastewater Capital Improvements $92,395,000 utility System Variable Rate Utility Acquisition, water and Rewe Bonds, Series 2007 wastewater Capital Improvements Village Center Community, $57,250, Recreational Revenue Recreational facilities Acquisition Development District, Fl. Bonds, Series 2103A $7,005,000 Subordinate Recreational Recreational Facilities Acquisition Revenue Bonds, Seriesama $86,400,0es utility Revenue Bonds, water and Wastewater utility System Series 2003 Acquisition $39,425,000 Recreation Revenue Bonds, Recreation Facilities Acquisition Series 2 . , A $11,160.001 Subordinate Recreation Recreation Facilities Acquisition Revenue Bonds, Series 20040 Virgin islands Water & power $44,190,00,0 water System Revenue water System Capital Improvements,. Autlnorl y, Fl, Refunding Bonds, Series 1998 Refunding of Outstanding Bonds: CRY otwest palms Beach, FL $15,935,ODQ utility System Revenue water and wastewater System: Capital Bonds* Series 1998 Improvements $49,130,000 utility System Revenue Water and wastewater System Capital Bonds, Series 1999 Improvements $6,915,000 utility System Revenue Stormwater System Capital Bonds, Series 2M Improvements $30,MQW utility System Revenue water and wastewater Capital Refunding Bonds, Series 2002 Improvements & Refunding of Outstanding Bonds 2-32 FIGURE C PUBLIC RESOURCES MANAGEMENT GROUP, INCL UTILITY INDEBTEDNESS / BOND FEASIBILITY EXPERIENCE $47,95S.OW Utility System Revenue Bends, series Z004 $S3,97S,ow utility system Revenue Refunding Bonds, Series 2008A $141,835,0W Utility System Revenue Bonds, series 2 $99,990,000 Utility System Variable Rate Revenue Bonds, Series ZMC $15,140.03 Utility System Revenue Refunding Bonds, Series 2010 $19,200,000 Utility System Rover," Refunding Bonds, Series 2011A $43 0413, Utility System Revenue Refunding goods, Series ZOIZA Total Amount Issued $6,292,362,144 2-3 )3 Mater, wastewater, and Stermwater System capital improvements Refunding of outstanding Bonds Water, Wastewater, and Storrawate'r System Capital improvements water, Wastewater, and Stormwater capital improvements & Refunding Of outstanding Bonds Refunding Of Outstanding Bonds Refunding of outstanding Bonds Refunding of Outstanding Bonds M N u m L O miJ2 C CL m ^m 3 ba � Q, u '.Ya— i M Q, N �_ MzLid '+' :O C m `" 0t 'a 3 ip m W c o (¢ 's. m 7i c v y ,; N Y c C O at T m m. mo O S _ N C z 3 =' ` d E u ao O Qm m M „?j .c c d awi ° m a` g °° a D 'ami o L ° c o y .0 o a, S ^ v `—a a ,', X a c c m a°pt Q L m 3 /`► Y i tai v�C7Q¢ Q1 #� co U Y ,�— v W 'a vi r- C L > Y N c m E Q ao Q7 co m m i+ bd c ':a7 [Y6 R... 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C vi �n ++ �w N cm U O C O E O E _ 'F. r M ui it '_ `� = Q U p N p u C 00 iWl aa+ ° a m Tv C u Od a u F, a u O rov,N, O 041 z4 � a.4.ac.acs mourn Y LL Ir 4+ uM0 V�0 in��° v� s 0 c m a m ca a a =_ i m tim L H m m m s O y m North Sumter County Financial Due Diligence and Utility Dependent Valuation, Negotiations 2015 District, FL Hillsborough County, FL Prepared Chapter 125 Public Hearing document, Reasonableness of Purchase 2015 Price, Transition services (rates) Hillsborough County, FL Financial Due Diligence and Valuation 2015 North Sumter County Financial Due Diligence and Utility Dependent Valuation 2014 District, FL Hillsborough County, FL Flagler County, FL Sarasota County, FL Florida Governmental Utilities Authority, FL North Sumter County Utility Dependent District, FL Harbor Hills Country Club, LP, FL Florida Government Utility Authority, FL City of St. Augustine, FL 2-42 2014 2013 2013 2013 2012 2012 2011 2011 FIGURE E PUBLIC RESOURCES MANAGEMENT GROUP, INC. UTILITY ACQUISITION ANI) TRANSACTIONS Martin County, FL City of Oviedo, FL Lee County/Florida Government utility Authority, FL Sumter Landings Community Development District, FL Pasco County, FL Florida Keys Aqueduc Authority, FL Fairfax, VA Town of Jupiter Island, FL Brevard County, FL Florida Keys Aqueduct Authority, FL City of Palm Coast, FL Volusia County, FL City of Winter Springs, FL Hernando County, FL 2-43 2009 2009/ 2010 2008/ 2010 2008 2008 2008 2007 2006 2005 2005 2004 2003 2003 FIGURE E PUBLIC RESOURCES UTILITY ACQUISITION AND i x Osceola County/ Tohopekaliga Water Authority, FL Florida Governmental Utilities Authority, FL Florida Governmental Utilities Authority, FL JEA (Jacksonville, FL) IEA (Jacksonville, FL) The Regency Group, Inc., FL Clay County Utility Authority, FL Clay County Utility Authority, FL Clay County Utility Authority, FL City of Palm Coast, FL 2-44 2003 2003 2003 2003 2003 2003 2003 2003 2003 2003 PUBLICFIGURE E MANAGEMENT Martin County, FL Pasco County, FL Lee County, FL Volusia County, FL Volusia County, FL City of Palm Coast, FL JEA (Jacksonville, FL) City of Anchorage, Alaska Martin County, FL Sarasota County, FL Lee County, FL 2-45 2003 2002 2002 2002 2002 2002 2001 2000 2000 2000 2000 FIGURE E PUBLIC RESOURCES MANAGEMEN • i Florida Governmental Utilities Authority, FL Florida Governmental Utilities Authority, FL Florida Governmental Utilities Authority, FL City of Marco Island, FL O&S Water Company, FL Martin County, FL Florida Governmental Utilities Authority, FL Charlotte County, FL Martin County, FL Martin County, FL Private Entity, FL 2-46 2000 2000 2000 2000 2000 2000 2000 2000 1999 1999 1 1999 1 2-47 Section Qualifications,Work Histories Personnel Proposed Project 'Team This section provides a summary of PRMG's proposed project team and their qualifications. Organizational Chart PRMG's proposed project team includes three senior staff members and one project analyst, as shown in the organizational chart below: Figure 3-1 Project Organizational Chart 4 -18i77w 3-1 In addition to the key team members assigned to the City's project, the City will have the support of PRMG's full staff, as necessary, to successfully complete the City's projects. As summarized in Section 1, PRMG's professional staff includes thirteen staff members and provides enough depth so that, if necessary, we can replace any individual project team member with an individual of equal qualifications. This will allow us to complete the study in a timely manner if unforeseen staffing circumstances dictate the need for replacement. Project 'Team Biographies Principal -in -Charge / Project Manager — Henry L. Thomas is a Senior Vice President of the firm and has thirty-eight (38) years of utility rate and management consulting experience with local governments. Mr. Thomas is an expert in the evaluation of utility rates, cost of service analyses, system valuations and acquisitions and the development of financial plans for water, wastewater, stormwater, solid waste, electric and natural gas utilities. He has directed the firm's services for more than 100 clients throughout Florida and the nation, including the services provided to the City of Sanford. Mr. Thomas has also served as an expert witness on utility rate and financing issues, and has assisted his clients in contract negotiations and implementing regional utility projects. As project manager, Mr. Thomas will be responsible for providing strategic and technical direction to the project team, making presentations, quality control, and project management. Quality Control and Review — Robert J. Ori, CPA is the President of the firm and has thirty-eight (38) years of experience in financial planning, cost of service and rate analyses, acquisition support, expert testimony and contract pin Section 3 — Personnel Qualifications (continued) negotiations, and water/wastewater system valuation for governmental entities. Mr. Ori is a Certified Public Accountant and has been involved in more than 35 utility acquisitions, utility rate and financial analyses for more than 125 local governments, and has participated in more than $5.5 billion of utility financing. He has also participated in public/private partnership negotiations, and has served as an expert witness on rate and financing matters. Mr. Ori is a current member of American Water Works Association (AW WA) Rates and Charges and the Financial Accounting and Management Committees. Mr. Ori will be available to provide quality control and technical advice to the project team Lead Analyst — Murray M. Hamilton, CPA is an Associate of PRMG and has led client engagements for a variety of projects. Mr. Hamilton is a Certified Public Accountant registered in Florida with over twenty (20) years of financial and accounting experience, including fourteen (14) years with the firm. Mr. Hamilton's experience includes providing financial and management consulting services to utility and governmental entities, including the development of revenue sufficiency and cost allocation and rate studies, connection and development fees, municipal impact fees, and other miscellaneous charges for utility and governmental services. He has also developed cash flow and cost determination analyses for fleet maintenance, stormwater, and fire services. He has served over thirty (30) county, municipal, and utility authorities. Mr. Hamilton will be the lead analyst for the project. As the lead analyst, he will be responsible for technical direction overseeing the development of the utility rate and financial model. He is also available to provide backup to Mr. Thomas. Shawn A. Ocasio is a Rate Consultant for the firm that will provide analytical support for the City's projects. During his seven (7) years with the firm, he has been involved in the development of revenue requirements analyses, comprehensive 3-2 billing frequency and rate design evaluations, and detailed revenue models. Mr. Ocasio has exceptional analytical skills, and has been involved in numerous projects along with Mr. Thomas and Mr. Hamilton, including development of utility rate and financial plans and bond feasibility studies. His role will be to provide analytical support for the project, including analysis of billing data and revenue requirements. Mr. Ocasio has worked on City projects for the past six (6) years. Nicholas T. Smith is a Senior Rate Analyst for the firm who will be available to assist Mr. Ocasio in providing analytical support for the City's projects. During his three (3) years with the firm, he has been involved in the development of utility revenue requirements, comprehensive analysis of billing data, and rate design evaluation. Mr. Smith will allow the project team to effectively leverage his lower billing rates to conduct basic project tasks. Project Team Resumes Resumes for the specific key project team members selected to provide the proposed utility rate and financial consulting services to the City are included at the end of this section. Project Team Client References The key project team proposed for the City of Sanford consisting primarily of Mr. Thomas, Mr. Hamilton and Mr. Ocasio has performed similar utility rate studies and annual updates for a significant number of clients. We pride ourselves in providing quality rate and financial consulting services to the public utility sector and have provided, and continue to provide, cost-effective and responsive service to our clients. PRMG is driven by a corporate philosophy based on consistently providing the best possible service to our clients. Our project team's outstanding track record in performing work for numerous clients is best evidenced by the number and duration of the h Section 3 — Personnel Qualifications (continued) long-term client relationships we have maintained and the amount of repeat business we do. In addition to demonstrating the project team's recent involvement in similar projects, we are confident that our project team references presented in Table 3-1 will attest to the ability of our project team to provide a quality product on time and within budget. All of the projects on Table 3-1 were conducted by the members of our proposed project team. We invite the City to contact any one of our references listed on the next page. We have also included several letters of recommendation from clients that have worked with the senior members of the proposed project team at the end of this section. 3-3 Table 3-1 Representative Projects for the Project Team unent xe resented 'Iype of Fro ect Scope of Services r CLEW.{ City of Apopka, FL 2015 Water, Comprehensive rate study Mr. Glenn Irby Sewer and based on preparing a City Administrator Reclaimed Water five-year financial forecast, 748 E. Cleveland Street Rate Study detailed analysis of billing Apopka, FL 32703 data and cost of service Phone: 407-703-1700 period. In order to design study to design water, GIrby@Apopka.net sewer and reclaimed water statistics and a cost of rates Charlotte County, FL Mr. Gordon Burger Director of Budget and Administrative Services 18500 Murdock Circle, Room 538 Port Charlotte, FL 33948 Phone: 941-743-1944 Gordon. Burger@cllarlottecountyfl.gov Citrus County, FL l ,t Mr. Ken Cheek Director of Water Resources 3600 W. Sovereign Path, Suite 226 LecantoJ FL 34461 \\a1151tiV 1 Phone: 352-527-7646 Ken.Cheek@bocc.citrus.fl.us 3-4 2016 Utility Rate Comprehensive rate study Study base on preparing a Revenue twenty-year financial Sufficiency and forecast and capital Rate Evaluation funding plan, and, detailed analysis of billing data and cost of service study to design water and sewer rates for a five-year period 2015 Utility Comprehensive rate study Revenue based on preparing a Sufficiency and five-year financial forecast Rate Evaluation and consolidating eight different water rates and three different sewer rates into a single county wide water and sewer rate to be phased -in over a three-year period. In order to design the water and sewer rates a detailed analysis of billing statistics and a cost of service study was conducted 2015 Water, Comprehensive water, Wastewater, sewer, stormwater and Refuse and refuse rate study based on Stormwater Rate preparing a five-year Study and 2016 financial forecast, detailed Annual Update analysis of billing data, cost of service study and rate design analysis. An annual update was recently completed for Fiscal Year 2016 Client Represented Tvve of Proiect Scope of Services 3-5 Fort Pierce Utilities Authority, FL 2016 Annual Annual rate update based •� Ms. Nina Penick, CPA Update of on the Fiscal Year 2016 Director of Finance Revenue Operating and Capital P.O. Box 3191 Sufficiency Budget. A Eve -year ` Ft. Pierce, FL 34948-3191 Analysis for financial forecast served as Phone: 772-466-1600 (Ext: 3298) Electric, Water, the basis to evaluate the NPenick@FPUA.com Sewer, and sufficiency of rates through Natural Gas Fiscal Year 2020 Systems City of Inverness, FL 2013 Utility Rate Comprehensive rate study Mr. Thomas Dick Revenue based on preparing Assistant City Manager Sufficiency and five-year financial forecast, 212 West Main Street Rate Evaluation a detailed analysis of Inverness, FL 34450 billing statistics and a cost Phone: 352-726-2611 (Ext: 1008) of service analysis to TDick@Inverness-FL.gov design water and sewer rates City of Lakeland, FL 2016 Annual Annual rate update based Mr. Robert Connors Utility Rate on the Fiscal Year 2016 t'LAKEA�I;TD Director, Water Resources Revenue Operating and Capital wator Utilltie�s Department Sufficiency and Budget. A five-year 228 S. Massachusetts Avenue Cost of Service financial forecast served as Lakeland, FL 33801 Evaluation the basis to evaluate the Phone: 863-834-6000 sufficiency of rates through RobertConnors lakeland ov.net Fiscal Year 2020 City of Miramar, FL 2014 Water and This comprehensive utility Mr. Michael Moore Sewer Rate Study rate study included a ACM Operational Services five-year financial forecast, 13900 Pembroke Road cost of service study and ' ' Miramar, FL 33027 rate designs based on a BEAUTTAN PROGRESS EST 1555 Phone: 954-602-3115 detailed analysis of billing JMMoore@MiramarFL.gov statistics CITY OF' City of Mount Dora, FL 2016 Water & A comprehensive water A10 UND T Mr. John Peters Wastewater Rate and sewer rate and impact RA Director of Public Works & Utilities and Impact Fee fee analysis. The study was 1250 North Highland Street Study based on preparing a Mount Dora, FL 32757 five-year financial forecast, Phone: 352-735-7155 cost of service study and Peters)@CityOfMountDora.com rate design analysis based on detailed billing statistics. City of North Port, FL 2014 Water and This comprehensive utility Ms. Jennifer Desrosiers Wastewater Rate rate study included a j Utilities Business Manager Study Eve -year financial forecast, j 6644 W. Price Blvd. cost of service study and North Port, FL 34291 rate designs based on a Phone: 941-426-9500 (Ext: 8006) detailed analysis of billing JDesrosiers@CityOfNorthPort.com statistics 3-5 Client Renresented TVDe of Proiect Scope of Services '. City of Ocala, FL 2014 Utility Rate This comprehensive utility Mr. Sean Lanier Revenue rate study included a Director, Water and Sewer Dept. Sufficiency and five-year financial forecast, 2100 N. E. 30th Avenue Rate Evaluation cost of service study and Ocala, FL 34470 rate designs based on a Phone: 352-351-6772 detailed analysis of billing JHalcomb@OcalaFL.org statistics czni rofG00d iyh City of Ocoee, FL 2016 Utility Rate This rate study update Mr. Charles Smith Revenue included preparing a Director of Utilities Sufficiency and five-year revenue Florida 1800 A.D. Mims Road Bond Feasibility sufficiency analysis based Ocoee, FL 34761 Study on the proposed Fiscal Phone: 407-905-3100 (Ext: 4001) Year 2017 Operating CSmith ci.Ocoee.FL.US Budget and Capital Plan o City of Oldsmar, FL Mr. Bruce T. Haddock 2016 Water and Sewer Utility Rate This rate study update included preparing a City Manager Study five-year revenue 100 State Street West sufficiency analysis based �z'o a ,'O P Oldsmar, FL 34677 on the proposed Fiscal Phone: 813-749-1102 Year 2017 Operating BHaddock ci.Oldsmar.FL.US Budget and Capital Plan CMOFPAMAMOsvBEAM City of Panama City Beach, FL 2016 Utility Rate Comprehensive water and Mr. Albert E. Shortt, P.E. Revenue sewer rate study based on a City Engineer/Utilities Director Sufficiency and five-year financial forecast 110 South Arnold Road Rate Evaluation and capital funding plan Panama City Beach, FL 32413 Phone: 850-223-5054 (Ext: 2404) AES@PCBgov.com Polk County, FL 2016 Water, The study included Ms. Marjorie Craig Wastewater, and updating the County's Utilities Director Reclaimed Water five-year business plan 1011 Jim Keene Blvd Business Plan based on the County's Winter Haven, FL 33880 Update Fiscal Year 2016 Operating Phone: 863-298-4235 Budget and Capital Plan Marj orieCraig@Polk-County.net Client Represented Tvpe of Proiect Scope of Services 3-7 City of Stuart, FL 2013 Utility Rate Comprehensive water, Mr. Dave Peters Revenue sewer and solid waste rate Utility Coordinator Sufficiency and study included a five-year 121 S.W. Flagler Ave. Rate Evaluation financial forecast and rate Stuart, FL 34994-2172 phasing plan Phone: 772-288-1292 (Ext: 1) DPeters ci.Stuart.FL.US City of Tampa, FL 2014 Utility Rate Comprehensive water and Mr. Michael Perry Revenue sewer rate study. This 410 Budget Operations Manager Sufficiency and study involved a five-year 306 E. Jackson Street Rate Evaluation; financial forecast, a Tampa, FL 33602 Water and Sewer detailed evaluation of Phone: 813-274-3332 Impact Fees alternative rate strictures, Michael.Perry@TampaGov.net and impact fees LE. �L City of Titusville, FL 2016 Water and Annual rate update to Mr. Sean Stauffer Sewer Rate assess the sufficiency of Water Resources Director Review water and sewer rate 2836 Garden Street revenues based on a Titusville, FL 32796 five-year financial forecast Phone: 321-383-5650 Sean.Stauffer@Titusvilie.com City of Winter Garden, FL 2012 Utility Comprehensive rate study Mr. Donald R. Cochran, P.E. Revenue based on a five-year Assistant City Manager - Public Sufficiency and financial forecast and rate Services Rate Evaluation; design evaluation 300 West Plant Street Bulk Reclaimed Winter Garden, FL 34788 Water Rates Phone: 407-656-4111 (Ext: 2263) Stormwater and DCochran@WinterGarden-FL.gov Sanitation Rate Evaluation 3-7 July 22, 2015 To Whom It May Concern: I believe their work goes beyond just number crunching because they understand as well as the customer does that there is a political component to consider before a study is actually adopted by the governing board. As I remember, it was stated in one meeting that "a rate study is as much an art as it is a study of the City's assets, revenues and expenditures." This is the team that considers all factors when it comes to taking the end product for the final vote. Sincerely, Donald R. Cochran Assistant City Manager — Public Services City of Winter Garden cc: Henry Thomas Murray Hamilton I am writing this letter of recommendation regarding the outstanding services provided by PRMG, Inc., related to municipal rate studies and impact fee studies. The PRMG, Inc., team of Mr. Henry Thomas and Mr. Murray City of Winter Garden Hamilton have performed several studies for the City of Winter Garden over the past eight years I have been with the City including irrigation water fees, water and wastewater impact fees, water and wastewater user fees, and in P: 407.656.4111 2013 an updated study of the water, wastewater, stormwater, and solid waste rates and impact fees. 300 West Plant Street Winter Garden, FL They have also performed impact fees studies related to fire, police, parks and 34787 recreation, as well as vehicle parking. wintergarden-fLyov We have found Mr. Thomas and Mr. Hamilton to be knowledgeable and thorough in their area of expertise. They approach the composition of these studies with great attention to detail in order to achieve the highest quality results for their customer. I believe their work goes beyond just number crunching because they understand as well as the customer does that there is a political component to consider before a study is actually adopted by the governing board. As I remember, it was stated in one meeting that "a rate study is as much an art as it is a study of the City's assets, revenues and expenditures." This is the team that considers all factors when it comes to taking the end product for the final vote. Sincerely, Donald R. Cochran Assistant City Manager — Public Services City of Winter Garden cc: Henry Thomas Murray Hamilton Find your place July 23, 2015 To whom it may concern Public Resources Management Group (PRMG) The City of Ocala would like to take this opportunity to submit our appreciation for the quality of service that we have received since 1994 through rate studies and associated refinements in billing class from PRMG (Public Resources Management Group). Henry Thomas and Murray Hamilton have always been very responsive and timely and have met/exceeded our expectations for thoroughness and professionalism. They have an innate ability to relate a complex spreadsheet or presentation to individuals or in council meetings that are well put together and easy to understand. I would highly recommend PRMG for work related to rate studies and financial matters dealing with governmental enterprise funds. Sincerely, Jeff G. Halcomb Water Resources Director NATER RESOURCES .1805 INE 30°i AVENUE, BUILDING 600. OCALA, FLORIDA 34470 352 -629 -CITY (2489) • www.ocalafl.org 9110 , Find your place July 23, 2015 To whom it may concern Public Resources Management Group (PRMG) The City of Ocala would like to take this opportunity to submit our appreciation for the quality of service that we have received since 1994 through rate studies and associated refinements in billing class from PRMG (Public Resources Management Group). Henry Thomas and Murray Hamilton have always been very responsive and timely and have met/exceeded our expectations for thoroughness and professionalism. They have an innate ability to relate a complex spreadsheet or presentation to individuals or in council meetings that are well put together and easy to understand. I would highly recommend PRMG for work related to rate studies and financial matters dealing with governmental enterprise funds. Sincerely, Jeff G. Halcomb Water Resources Director NATER RESOURCES .1805 INE 30°i AVENUE, BUILDING 600. OCALA, FLORIDA 34470 352 -629 -CITY (2489) • www.ocalafl.org July 22, 2015 Public Resources Management Group, Inc. Henry Thomas, Vice President 341 North Maitland Avenue, Suite 300 Maitland, FL 32751 Dear Henry, Please let me express our sincere appreciation to you and your team for the exceptional attention and responsiveness that you have provided to the City of Palm Bay and its Utilities Department during our most recent water and wastewater rate study. From the time that your contract was approved and we initially met, you and Murray have been in tune to our needs as a utility - especially in light of the many unknowns regarding the future expansion of our system based on proposed development. Your team has been patient to listen to staff and elected officials in order to provide a future forecast scenario that will be in the best interest of our rate payers, the utility, and the City. I would especially like to commend Mr. Murray Hamilton for his professionalism throughout the rate study process. His knowledge and understanding of not only our rates but also our Code of Ordinances and the history of the City has made this process more pleasant than expected. He is a tremendous asset to your team and his expertise was evident in the way he was able to respond to even the most difficult or complex scenarios. His presentation of the proposed rate study to Councilmembers on July 7, 2015, was spot-on, and he gave a thorough and concise explanation of the rates that even those with little to no financial background could easily understand. Your team has met and exceeded our expectations during this utility rate study. Every question or scenario that has been thrown your way has been answered respectfully, thoroughly, and quickly. Thank you for the time and attention that you have given to this study. Sincerely, art C. Robe s, P.E. Utilities Director Cc: Gregg Lynk, City Manager kdministration Business Operations MEHI... r �rie Lemons Business Operations Division Manager A . "i Lori Embrey Utilities Accountant Utilities Department Distribution and Collections Engineering 250 Osmosis Drive BE Palm Bay FL 32909 321.952.3410 Fax: 321.574.1852 Plant Operation! Website: b mpbud.orc S�Cvt .,. Ell 1111. .1 1 11 i Understanding of the Project PRMG has local knowledge of water and sewer business in the State of Florida through our current and past engagements with numerous cities and counties. We also have significant knowledge of the City of Sanford's utility rate and financial consulting needs based on our work with the City since 1999. This section describes PRMG's understanding of the utility rate and financial consulting services required by the City that include: r11 H I 0 Review and understand the City's financial planning and rate administrative issues, including operating and capital budgets, loan documents, rate resolutions, and ordinances and service agreements. Review historical sales data and develop a forecast of water, sewer, and reclaimed water demands, and corresponding customers, billed flows, and revenues. Review the City's water and sewer utility to identify current conditions and issues, such as the cost of utility operations, capital program implementation and funding, including funding of renewals and replacements and other issues that may affect future utility financial requirements. Evaluate the overall financial position of the utility system and compliance with financial performance criteria, and investigate alternative financial scenarios. Review existing rate making methods and design proposed monthly water, sewer, and reclaimed water utility rates based on the projected rate revenue requirements and cost of service principles, including consideration of alternative rate structures that reflect current industry trends and philosophies best suited for the City of Sanford. M Review miscellaneous service charges and develop proposed revisions based on the cost of providing such services. ® Assist the City with the public information process to communicate the results of the study to the public and various utility system stockholders. Provide a review of compliance with the Rate Covenant and Flow of Funds set forth in the Bond Resolution and SRF loan agreements. Prepare comparisons of the City's rates and fees with other utilities in the region. Prepare report and briefing documents, and make presentations to the City's executive management and City Commission, as necessary. Provide annual updates to the City's rate and financial plan. Project Goals and Objectives We believe that the major project goals and objectives to be accomplished by the utility rate consulting services are: The rates for water, sewer, and reclaimed water service should be fair, equitable, and defensible. The cost of service analysis prepared to achieve this goal will be based upon level of service considerations, and the City's specific operating, accounting, financial and customer information. 2. The rates for service should ensure the financial stability of the water and sewer systems, including satisfying debt -related rate covenant/loan service requirements. 3. Effectively communicate the basis for the proposed water, sewer, and reclaimed water utility rates and fees, and fully disclose the impact of any proposed change to monthly rates and miscellaneous service charges. � � r 4. Develop and maintain an integrated rate and financial planning model to allow the City to evaluate alternative multi-year rate plans and financial forecasts, and cost effectively prepare annual updates. Project Methodology PRMG utilizes a comprehensive business planning approach to address utility rate and financial issues. We believe that the City's utility rate and financial planning process should be consistent with management and policy goals and objectives, financial information systems, accounting practices, and the utility planning process, and should address the issues shown below in Figure 4-1. Capital ImprovementPlan0 Financial Pl S ( r R fx,;r itksi i! ui 2 F a,� k r..�e. n� nts Policy & ti G <ac Section 4- Project Approach (continued) strategies that result in a balanced and sustainable rate and financial plan. PRMG's utility rate and financial model formalizes the business planning and rate development process. The model helps communicate the issues and simplify the understanding of dynamic financial relationships among customer demand, operations, capital, management and policy decisions, and how these key variables affect rate requirements. The rate and financial model is an excellent tool to support decision-making and communicate the sensitivity of key variables. However, PRMG's added value is our client focus, dedicated employees, industry insight, and experience that allows us to develop innovative business solutions based on shared experience from our significant client base and our industry leadership role. PRMG's rate and financial model recognizes the an appropriate level of information and analytical detail in order to: F_ n :w� uslnessGoais C �i,, k ..r P, fc:.s r ,: l, t,ay (' rtss= nd & c • F e Po!ic s ' E. -,- r Stra �.;# c-; .a", c ! �< �r o Identify and Track Key Policy Variables e Allow the User to Forecast Financial capitalFunaingJ ��! �� ,r,��„ �vs costRecovetyPlan � °"�e `'"`sues Rate and Fee Design Requirements to Meet Enterprise F " "£ IiQe Goals and Objectives `"`' L'„nsGus'= Affcjdlajd'tv® Allow the User to Evaluate Alternative Financial Scenarios Utility Date and Financial Model PRMG's approach to addressing the City's utility rate and financial planning issues will be facilitated by the use of our utility rate and financial planning model that will be adapted to specifically accommodate the City's existing budgetary process, and the data that is readily available from financial information, customer billing systems, and operating reports. Our comprehensive business approach and planning tools will allow the PRMG project staff to work closely with Water and Sewer Utilities Department and Finance Department staff. We will utilize the model to conduct interactive work sessions with key City staff members to develop HN, • Allow the User to Examine Trends and Measure Performance * Allow the User to Evaluate the Sufficiency of the Current Rates for Service ® Allow the User to Evaluate Alternative Utility Rate Levels and Cost Recovery Strategies ® Design Utility Rates Based on Cost of Service Principles Figure 4-2 below shows the various rate and financial model components supported by a general user input section and a management dashboard highlighting the forecast results. FIGURE 4-2 UTILITY FINANCIAL FORECAST MODEL Section 4- Project Approach (continued) In order to evaluate the utility financial plan with key City staff members, a management dashboard will be used to identify and track key policy and management objectives related to financial performance and the adequacy of utility rates. Based on the rate and financial model inputs supported by the user, the management dashboard can be used to create and review a summary of forecast results on a real time basis. This allows us to conduct interactive work sessions, and develop the parameters of the utility rate and financial plan with the full involvement of the City staff. Figure 4-3 shows an example of a management dashboard that illustrates the key variables and performance measures incorporated into the rate and financial model. 4-3 Scope of Services In the proposed project work plan, we make allowances for meetings with City staff to develop and review study assumptions, and results. These meetings will allow us to effectively communicate the considerations, assumptions, and results of the project. The work plan also includes attendance at public meetings to present the study results. Our proposed project work plan is based on a multi -phase approach as set forth below: Task I Kick-off Meeting to Affirm Overall Project Goals and Objectives, Finalize Project Schedule, and Discuss Data Requirements Task 2 Institutional Background Review and Data Collection Task 3 Prepare a Forecast of Utility Demand and Development of Customer, Sales and Usage and Revenue Forecast Task 4 Development of Utility System Revenue Requirements Task 5 Analyze Capital Funding Plan, Including Financing Options Task 6 Develop Cash Flow Projections Under Existing Rates Task 7 Design of Monthly Utility Rates for Water, Sewer, and Reclaimed Water Service Task 8 Develop Cash Flow Projections Under Proposed Rates Task 9 Review Compliance with Bond Covenants and SRF Loan Agreements Task IQ Use PRMG's ExcelOR-Based Model to Conduct Work Sessions with City Staff and Evaluate Alternative Scenarios 4-4 Section 4- Project Approach (continued) Task l l Prepare Benchmark Comparisons of Utility Rates Task 12 Prepare Rate Study Report and Presentation Documents Task 13 Present Study Results Our approach also includes project management and quality control steps to ensure that study results are reasonable, achieved cost effectively, and on schedule. A rate study schedule will be finalized in conjunction with the City staff. The schedule will be reviewed by the project manager on an ongoing basis and updated, as required, to keep track of study progress. Scheduling problems, corrective measures and adjustments, as necessary, will be coordinated with the City staff. Ivey Project Steps The key steps and actions necessary to complete the project scope include: e Finalize Project Work Plan and Schedule • Data Gathering • Rate/Financial Model Development ✓ Growth Rates for Customer Growth, Sales and Revenues ✓ Operating Budget Projections ✓ Capital Improvement Plan and Funding Sources ✓ Financial Position/Cash Reserves ✓ Cost Recovery Plan ® Work Sessions with Water and Sewer Utilities Department and Finance Department ✓ Define the Base Case ✓ Identify Alternatives ✓ Perform Sensitivity Analyses e Summarize Recommended Strategies 9 Prepare Draft Report/Presentation Materials Meeting with City's Executive Management Staff, if necessary ® Finalize Study Report and Briefing Documents e Present Results to City Commission Utility Rate Issues We have an in-depth understanding of the major water, sewer, and reclaimed water utility rate issues that must be addressed in the City's project. These major issues include: ® Utility Demands, Capacity Utilization and Growth Trends • Amount and Timing of Capital Projects ® Cash Reserve Balances and Planning Targets s Utility Cost Structure versus Rate Structure ® Impact of Reclaimed Water Service ® Phasing of Rate Adjustments ® Customer Impact/Affordability ® Public Acceptance Project Work Plan A detailed discussion of the project work plan follows. Task 1 — Kick-off Meeting to Affirm Overall Project Goals and Objectives, Finalize Project Schedule, and Discuss Data Requirements A detailed data request will be prepared to assist the City staff with compiling specific information regarding the financial operations of the water and sewer utility systems. The data requested will include budgetary, accounting, operating and financial data, customer billing profiles and historical operating costs and system demand requirements. This task will also include attendance of one (1) on-site project kick-off meeting to review the initial information compiled by the City staff, finalize the work plan and project schedule, and affirm the overall project goals and objectives. M Section 4- Project Approach (continued) Task 2 —Institutional Background Review and Data Collection In this task, PRMG will review historical customer and sales data, operating and capital budget documents, master plans, relevant ordinances and resolutions, trust indentures, utility fiscal policies, loan agreements, interlocal agreements, and any previous rate and financial evaluations. A major purpose of this task is to assess current conditions and identify appropriate financial criteria in order to ensure compliance with such requirements. In addition, management objectives associated with administrative issues, pricing methods, operating criteria, internal financial policies related to debt service coverage, the flow of funds as well as reserve and cash fund balance levels will be discussed with the City's executive management, Finance Department, and Water and Sewer Utility Department staff. Task 3 — Prepare a Forecast of Utility Demand and Development of Customer, Sales and Usage and Revenue Forecast 3.1 Compile Historical Statistics/Billing Frequency Analysis: In order to provide a basis for the development of the customer and sales forecast, it will be necessary to compile the water, sewer, and reclaimed water customer billing statistics. This evaluation will be done for each system by customer class in order to help evaluate future demands. In order to evaluate and reconcile historical billing data with the rate revenues and provide a billing profile to develop alternative rate structures or evaluate changes in rate levels to the existing rates, it is necessary to develop a billing frequency analysis. This analysis will include an evaluation by customer class and rate structure in order to identify water use by consumption level, and water customers that are billed sewer flow which would include estimates of any sewer billing thresholds for the residential class. The bill frequency analysis will be used to properly calibrate the revenue model based on actual historical results. We refer to this calibration as the "proof or revenues." 3.2 Customer Sales and Usage Projections Utility Demand Forecast: The forecast of customer/sales should be developed by utility system and customer class, and should consider residential and commercial property development planning estimates for the City's utility service area, recent growth trends based on the historical customer analysis, vacant properties subject to development, and capacity/level of service assumptions recognized in the facility planning process. A customer and sales forecast sensitivity analysis will also be developed which will serve as one of the factors considered in the development of projected revenues, rate revenue requirements, and the design of proposed rates. 3.3 Develop a Water, Sewer and Reclaimed Water System Revenue Forecast: This task involves the development of rate revenues from existing water, sewer, and reclaimed water rates recognizing the results of the customer and sales forecasts conducted in Task 3.2 and existing rates for service. A proof of revenue, or reasonableness test, will also be prepared to validate and calibrate the profile of the historical customer billing data against historical rate revenues. Task 4 — Development of Utility System Revenue Requirements This task projects the amount of expenditures to be recovered from water, sewer, and reclaimed water rates and fees. The task includes the development of detailed projections of operating costs, capital improvements and associated funding sources including debt service requirements, and maintenance of cash reserve fund requirements. Using our utility rate and financial planning model, alternative cost recovery scenarios will be prepared to examine the effects of projected growth, timing of capital projects, capital funding alternatives such as pay-as-you-go versus debt financing, and phased rate adjustments. Based on our evaluations, a cost recovery strategy will be developed in conjunction with the City staff to identify the projected overall rate adjustments for each fiscal year of the forecast period. This task will also we Section 4- Project Approach (continued) include attendance of one (1) on-site meeting to review the results of the revenue projections and revenue requirements analysis, to evaluate the sufficiency of existing rate revenues, and develop the overall cost recovery/rate phasing strategy. The following is a discussion of the major subtasks anticipated for this phase: 4.1 Development of Operating Expense Projections: The purpose of this task is to project the amount of operating expenses required to be recovered from rates. This task will be done in sufficient detail in order to: i) identify the types of expenses incurred by the system; ii) assist in the projection of expenditures for the study period based on recent and expected cost trends; iii) recognize changes in certain costs consistent with changes in future utility operations; iv) recognize changes in operating costs due to changes in regulatory requirements; and v) have sufficient detail to properly allocate the costs among the utility systems' and rate classes, as well as rate structure attributes. This task will include a review of the recent historical expenses and trends in costs. 4.2 Review of Capital Improvement Program Needs and Capital Funding Alternatives: One of the major expenditures that affects utility rates deals with the construction of capital improvements to meet future service needs, regulatory requirements, maintain reliability, and extend the life of assets through the funding of renewal and replacements. This phase involves a detailed review of the capital improvement program, and identification of all sources of funds available to the capital improvement program. An important goal of the study is to plan for the funding of capital improvements in order to produce the lowest impact on utility rates. This task will also involve a review of all restricted/unrestricted fund (cash) balances, identification of the timing of when funds will be expended for the capital facilities, and assistance in determining the need for external funding sources, such as long-term loans, to limit rate impacts. One of the biggest issues facing the City deals with the amount of pay-as-you-go capital being funded annually from rates. Included in this task will be an evaluation of the City's existing policies and unrestricted cash reserves available to fund capital reinvestment as well as "pay -go" funding levels in order to promote the long-term sustainability of utility rates and to limit the risk associated with debt financing of utility infrastructure. In conjunction with City staff, PRMG will develop a funding plan for the ongoing repair, renewal, and replacement of the existing utility plant facilities. Recommendations will be made as to the annual amount of funds needed for ongoing capital reinvestment based on the capital improvement needs identified by the Water and Sewer Utility Department. 4.3 Other Revenue Requirement Identification: In order to meet the financial obligations of the individual utility systems, PRMG will recognize other revenue requirements that need to be included in the financial analysis. A major component of other revenue requirements is scheduled debt service principal and interest payments associated with outstanding and anticipated debt. This task will also incorporate fiscal policies identified in Task 2 and funding requirements related to the capital costs funded from revenues identified in the capital funding plan, as well as any reserve requirements, and recognition of any transfer requirements, including both indirect operating expenses transfers and general fund transfers. This task will include a review of the allocation methods used to support the transfers. 4.4 Compliance Analysis: A major objective of the rate planning process is to ascertain that all financial requirements are met. This compliance requirement deals primarily with satisfying the Rate Covenant requirements and the Flow of Fund requirements, as defined in the Bond Resolution or any outstanding loan agreements. 4-7 Section 4- Project Approach (continued) Task 5 — Analyze Capital Funding Plan, Including Financing Options Based on the rate and financial model developed to estimate projected revenue requirements, PRMG will work with City staff to evaluate alternative capital funding options and scenarios. This task will include review of the preliminary base case, identifying alternatives, and performing sensitivity analyses that will culminate in a recommended capital funding plan to finalize projected revenue requirements and serve as the basis for designing utility rates to recover the costs. Task 6 — Develop Cash Flow Projections Under Existing Rates Based on results of Tasks 3, 4, and 5, and the financial performance criteria established in Task 2, PRMG will prepare a revenue sufficiency analysis under existing rates. The revenue sufficiency analysis will summarize the projected annual cash flows and cash fund balances under existing rates for the study period. Task 7 — Design of Monthly Utility Rates for Water, Sewer, and Reclaimed Water Service Monthly user rates will be designed predicated on the results of the cost recovery plan, which will consider the timing or phasing of rate adjustments. The City has adopted an annual rate indexing provision in the rate ordinance. While the annual index resolution has provided a strategy for minor increases in utility rates, PRMG will provide a cost of service analysis to set rates as deemed necessary. This task involves allocating the rate revenue requirements between the water, sewer, and reclaimed water systems and appropriate customer classes. In order to facilitate the allocation of costs, the first step of the process will be the organization of costs by function such as water treatment, water distribution, wastewater collection, wastewater treatment, administrative, etc. Once the costs have been categorized by function, they will be allocated among the various utility systems and customer classes. Examples of allocation factors used in the cost of service analysis include the number of customers, customer class sales data, wage and salary analyses, fixed asset records, revenues of each system, specific debt allocation based upon the purpose of the loan, and direct assignment of specific costs where appropriate. The purpose of Section 4- Project Approach (continued) the customer service analysis is to match utility system costs with customer benefits based on accepted rate making principles. Figure 4-4 below provides an overview of the cost allocation and rate design process. FIGURE 4-4 COST OF SERVICE ANALYSIS/RATE DESIGN PROCESS Basis - Directly Assign Operating and Maintena - Allocation of Common Administrative C+ - Accounts - rr - AM Exi Ll 4-8 Based on the results of cost of service analysis, this phase of the project will also include the development of the proposed monthly rates and charges for water, sewer, and reclaimed water service based on the utility system revenue requirements and customer forecast/bill frequency analyses developed in previous activities. This will include the classification and allocation of costs to the appropriate rate structure components, such as monthly base charges by meter size and usage charges and the design of the monthly user fees under selected rate structure options. In the design of the rates for service, alternative rate structures such as the implementation of tiered rates for conservation, wastewater billing thresholds, low income discounts, and other structures will be considered based on industry trends and philosophies and discussions with City staff about rate design alternatives best suited to the City of Sanford. Based on the results of the financial forecast and the overall financial objectives of the City, the cost -based rates for service may need to be phased in over time in order to meet such objectives and funding needs, as well as incorporate recommended rate structure changes. If appropriate, the project team will recognize a rate phasing strategy in the design of rates. The project team will balance the funding needs and rate re -structuring needs in order to limit the possibility of "rate shock" on its customers. Another important aspect of rate design analysis is recognition of price elasticity impacts of significant changes in rate level and structures, particularly related to tiered conservation usage charges. Task 8 — Develop Cash Flow Projections Under Proposed Rates Based on the cost recovery plan that will identify the phasing or timing of rate adjustments, and the rate designs selected by the City, PRMG will update the rate and financial model to estimate annual cash flows and cash fund balances for the study period under the proposed rate plan. 4-9 Section 4- Project Approach (continued) Task 9—Review Compliance with Bond Covenants and SRF Loan Agreements Based on the flow of funds, PRMG will prepare a debt service coverage analysis to ensure that the proposed rates comply with the Rate Covenant of the Bond Resolution and the terms of the outstanding SRF loans. Task 10 - Use PRMG's Excel® -Based Model to Conduct Work Sessions with City Staff and Evaluate Alternative Scenarios Throughout the development financial plan and rate analysis, PRMG will utilize its Excel® -based rate and financial model specifically tailored to the City's utility planning needs to conduct interactive work sessions with the City staff. These work sessions will focus on study assumptions and alternative funding and rate snaking strategies. These sessions are the key to effectively communicating the various aspects of the project with key City staff members. Task 11 — Prepare Benchmark Comparisons of Utility Rates This task will involve preparing rate comparisons of existing rates with proposed rate alternatives to help fully disclose the impact on the City's various types of utility customers and usage levels. In addition, a comparison of the City's utility rates to the rates of neighboring utilities, or benchmark competitors, will be developed. Task 12 — Prepare Rate Study Report and Presentation Documents The results of the various rate study phases will be summarized in a preliminary rate study report. After the review and comment period, PRMG will finalize the report and recommendations for presentation to the City Commission. The rate study report will document the study's assumptions and considerations, a summary of the methodologies relied upon in developing the proposed rate and fee structures, as well as our recommendations, findings, and conclusions. Task 13 — Present Study Results The conclusion of this task assumes one (1) on-site meeting for a workshop meeting to review the results and recommendations of the study and receive direction from the City Commission and, if necessary, attendance at one (1) public hearing for rate adoption. Concurrent with the conclusion of Task 13, PRMG will assist the City's legal counsel in updating the rate resolution/ordinance to incorporate all recommended changes to the rates, fees, and charges as identified during the rate study process. List of Anticipated Deliverables/Services Based on the consulting services required by the City and our proposed work plan to address these needs, the following deliverables are summarized below. 1. Initial Data Request 2. Revenue Requirements/Cash Flow Analyses 3. Capital Financing Plan and Alternatives 4. Proposed Water, Sewer and Reclaimed Water Rates and Charges 5. Utility Rate Comparisons and Affordability Analyses 6. Preliminary and Final Rate Study Reports 7. Briefing Documents for Workshops and Public Hearings 8. Copy of Utility Rate and Financial Model Section 4- Project Approach (continued) Project Team Organization The proposed project team organization includes a Principal -In -Charge, Mr. Henry L. Thomas, who has worked with the City for sixteen (16) years. In addition to Mr. Thomas, the project team includes PRMG staff members familiar with the City of Sanford. Table 4-1 sets forth the project team, their experience levels and project roles. Table 4-1 Project Team Personnel and Roles rim W, ears i iho as Rates, Fiaaace, Economics, P Mk Pelations, seri=Viecpident 3s 22 ... Prna ipal-h>•{'barge Coomet * Mistit ; P—d Fea Nlity and prajtd?Eaeaget Compliwce,stratelicPlanaing Robert I 01� CrA Rates, Fit e„ Co*an Dtvtlopmee R`t'r� Nego6atiws w Ate , 38 22 Review Acgdsiiims,BosdFeasib3lit}'�C.ampli a, SecoiAvY lhsctaaaa, Skategic Planmrtt. Accomiirta Issues. Nblk Relations )bray M. HituMon, CPA ; Fivai m. Raves, CompAT Model* Associate14 13 Least Nw Accoum* lssats, Scad Feasibilitrad Aealyst Cangtluvxe &Era" A. orasiu Anat1Itcal and Ont Allocation Sutgrnrt. Rate, cotseoltant 7 7 PwjedAaiysr RmwRe drememsAnalyses,tustaner statisdcat Evatnations Nick" T. 4W! tical and Cost relocation $uggact, StniorRakAnaiyat 3 PtttjmAWa,t Rew= Rquireamt:Anaipui,Castarn:r Siatistical Evaluations 4-10 Project Management/Cost/Budget Control This section describes PRMG's approach to project control. At the beginning of any consulting assignment for the City, project management tools will be developed including project specifications, milestones, and deliverables that will be included in a written scope of services, a project cost estimate including estimated man-hours and costs, a project schedule showing activities and milestones, and a list of project deliverables. Mr. Henry L. Thomas, the Principal -in -Charge, will be responsible for assuring that the project will be completed on time and within budget. A project schedule will be developed based on the agreed upon work plan. Based on the schedule and tasks identified in the work plan, .PRMG project staff will be assigned project tasks and deadlines. The schedule and project task list will be reviewed by the Project Manager and PRMG staff involved in the project. In addition, project meetings will be held with City staff throughout the project to review analysis results and final deliverables. In order to ensure the best possible work product, we propose to conduct the study in a series of phases, as shown in our proposed scope of services. The phased approach will allow for review of the study results throughout the course of the project including ongoing review of project results with City staff. By conducting the project in a series of phases, PRMG will ensure that the consulting services are provided to the City in a timely, efficient, and professional manner. Based on our experience, we understand that the rate study process includes tasks that build upon prior tasks. By segmenting the work plan, this allows for a review of task results prior to utilizing such results in subsequent tasks. Using project review sessions, both internally to ensure correct and accurate results, and with City staff to gain buy -in for reasonableness and to evaluate alternatives, will ensure the efficient utilization of project team personnel, time, and meetings. As the study 4-11 Section 4- Project Approach (continued) results culminate in the project report and presentation materials, the City staff will have a full understanding of the rationale and support for our recommendations and there should be no surprises. A study schedule will be developed in conjunction with the City staff. The schedule will be reviewed by the principal -in -charge on an ongoing basis and updated, as required, to keep track of study progress. Scheduling problems, corrective measures and adjustments, as necessary, will be coordinated with City staff as they occur. A key element of the project activities will be ongoing status meetings with City staff throughout the project. Communication Plan In order to maximize the benefits of the phased approach, we propose to schedule project status meetings concurrent with the project phase, in addition to holding on-site reviews prior to preparing the project report and presentation materials. In order to communicate the various aspects of the project, we propose major review sessions based on on-site meetings with key City staff. The on-site review meetings would include: (1) Project Kick -Off Meeting — The purpose of this meeting is to affirm project goals and objectives, finalize the project schedule, and discuss the project's data requirements. (2) Two (2) meetings to review revenue requirements/financial plan and proposed rate designs. (3) A meeting to review the study results with the City's executive management. This review would include a review of the financial plan and proposed rates, and the proposed briefing document to be used for public meetings with the City Commission. (4) Based on the City's schedule, PRMG would also be available to attend a City Commission workshop and a public hearing associated with adoption of the rates. Quality Control Methods Our approach includes project management and quality control steps to ensure that study results are reasonable, achieved cost effectively, and on schedule. No single criterion for the selection of a utility rate consulting team can be considered more compelling than the assurance that the services provided will reflect a high degree of quality, accuracy, and cost-effectiveness. PRMG has quality control procedures in place for all projects conducted by the firm. Quality Assurance/Quality Control (QA/QC) begins with the first day of project effort and continues until the final acceptance of the work product by the client. The most important QA/QC efforts of a rate study project occur during the project planning phase of the study. The principal -in -charge establishes criteria for progress milestones, cross-checking of calculations, coordination reviews, and detailed evaluation of work products. Additionally, the project manager continually emphasizes quality control concerns by scheduling discussions among project team members and with the client as the work progresses. Examples of specific QA/QC procedures we will implement as part of the financial and rate consulting services for the City include the following: ❑ Understanding the goals and objectives for each project assignment. The QA/QC process starts by knowing our client's needs and understanding their expectations. ❑ Ensuring that highly qualified team members are assigned to the project. This assures the highest level of quality, innovation, and project success, and reduces the potential for errors and omissions. ❑ Cooperative determination of study assumptions and criteria with City staff. This cooperative effort assures the methodology employed is defensible and the project components are reasonable. 4-12 Section 4- Project Approach (continued) ❑ lndependent technical review of all draft work products and deliverables by the PRMG QA/QC reviewer prior to their submission to the City. Project Schedule Based on our past experience working with the City, we have prepared a preliminary project schedule included as Table 4-2. 1— Kick-off Meeting to Affirm Overall Project Goals and Objectives, Review Project Schedule and Discuss Data _ On -Site Staff 2—Institutional Background Review and Data Collection :— Prepare Utility Customer, Sales and Revenue Forecast Development of Utility System Revenue Requirements 5—Analyze Capital Funding Plan, including Financing 6—Develop Cash Flow Projections Under Existing Rates 7_ Design of Monthly Utility Rates for Water, Wastewater and Reclaimed Water Service 8 —Develop Cash Flow Projections Under Proposed Rates 9— Review Compliance with Bond Covenants 10 —Conduct Interactive Work Sessions with City Staff 11—Prepare Detailed Comparisons of Utility Rates 12 —Prepare Rate Study Report and Briefing Documents 13 — Present Study Results Section 4- Project Approach (continued) On -Site Staff - On -Site Staff x Note: During the course of the engagement and in addition to identified on-site staff meetings, the Project Team also contemplates additional WebExT1' tefarnnfPrPnrP meetinas in addition to what is included above to review preliminary study results. 4-13 Profile Mr. Thomas has over thirty-seven years of utility industry rate and financial experience focusing on business issues facing water, wastewater, reclaimed water, solid waste, natural gas, electric, and stormwater utilities. Mr. Thomas' experience includes directing financial consulting services for publicly -owned utilities and governmental entities. He has been responsible for preparing utility rate and cost of service studies, business plans, bond feasibility studies, designing innovative utility rates, connection and development fees, municipal impact fees, developing utility financial policies and assisting with the acquisition of utility properties and other management consulting services. During his career, he has served over one hundred clients including county and municipal governments and publicly -owned utility districts, authorities and cooperatives. Relevant Project Experience Some examples of Mr. Thomas' project experience are summarized below. Charlotte County, FL Mr. Thomas has served the Charlotte County Utilities since 1996 providing utility rate, financial planning, and management consulting services to the County's water and wastewater systems. As part of this ongoing engagement Mr. Thomas has directed comprehensive water and wastewater rate studies, bond feasibility studies, utility valuations, impact fee studies and assisted in the development of utility expansion policies and the evaluation of wholesale rate issues related to the Peace River/Manasota Water Supply. Fort Pierce Utilities Authority, FL Mr. Thomas has served the Fort Pierce Utilities Authority (FPUA) since 1989 directing utility rate, financial planning, and management consulting services for the Authority's water, wastewater, electric and natural gas systems. In addition to providing comprehensive utility cost of service and rate studies and revenue sufficiency updates, his experience includes developing innovative electric utility rates including economic development rates, rates for standby service, and interruptible/curtailable rates. City of Ocala, FL Mr. Thomas has served the City of Ocala since 1992 providing utility rate, financial planning, and management consulting services to the water and wastewater systems. Mr. Thomas has directed comprehensive water and wastewater cost of service/rate studies and annual revenue sufficiency updates for the City. He has also been involved in the development of system development charges, wholesale utility rates and strategies related to providing incentives for growth and economic development. City of Lakeland, FL Mr. Thomas has served the City of Lakeland since 2009 providing utility rate, financial planning, and management consulting services to the water and wastewater utility systems. On behalf of the City, Mr. Thomas has directed a comprehensive cost of service/rate study and annual revenue sufficiency updates. Major issues addressed for the City include water conservation rates and rate structures that promote revenue stability and evaluating the size and timing of capital projects. City of Tampa, FL Mr. Thomas has served the City of Tampa since 2da005.e has d annual directed comprehensive, water, wastewater and solid waste rate studies, venue sufficiency updates, developed capital charges related to new development, participated in City's water and wastewater master planning process to evaluate the financial impact of capital projects and prepared a bond feasibility study associated with the issuance of long-term debt. City of Titusville, FL Mr. Thomas has served the City of Titusville, Florida since 2000. He has directed comprehensive water and wastewater rate studies and annual revenue sufficiency updates. In addition, he has been involved in providing capital funding plans for State Revolving Loans from the State of Florida, Department of Environmental Protection (FDEP) and assisted in negotiations related to the formation of a joint public/private entity to provide future water supplies for the City. Winter Carden, FL Mr. Thomas has served the City of Winter Garden since 1996 providing utility rate, financial planning, and management consulting services to the water, wastewater, stormwater, and solid waste systems. His experience includes directing utility rate and cost of service studies, municipal impact fee studies for police, fire and recreation services and providing management consulting services related to the feasibility of providing solid waste services to the City's commercial customers. Other Representative Clients Served Cities of: • Apopka, FL Miramar, FL • Auburn, AL • Newberry, SC • Bartow, FL +North Port, FL • Town of Bedford. NH + Oakland Park, FL • Cape Coral, FL • Ocoee, FL • Casselberry, FL • Oldsmar, FL • Clermont, FL • Orange City, FL • Crystal River, FL + Oviedo, FL • Dania Beach, FL + Palatka, FL • Town of Davie, FL + Palm Bay, FL • Dundee, FL • Panama City, FL • Fort Walton Beach, FL + Panama City Beach, FL • Town of Goffstown, NH + Pembroke Pines, FL • Haines City, FL + Sanford, FL • Hallandale Beach, FL • Stuart, FL + Helena, MT • Sunrise, FL + Inverness, FL + Umatilla, FL + Lakeland, FL • Valdosta, GA • Leesburg, FL • Vero Beach, FL • Maitland, FL + West Melbourne, FL + Melbourne, FL • Winter Springs, FL -2- Other Agencies: • Citrus County Utilities • Destin Water Users • Enterprise, CDD • Greater Pine Island Water Association • Immokalee Water and Sewer District • Jacksonville Electric Authority (JEA) • Lee County Electric Cooperative • Midway Water System • Okeechobee Utility Authority • Polk County Utilities • Regional Utilities of Walton County • South Walton County Utilities • Volusia County Utilities • Virgin Islands Water & Power Authority • Wabash Valley Power Association Regulatory / Litigation Experience Mr. Thomas has directed regulatory rate cases for the Virgin Islands Water and Power Authority and Charlotte County, Florida and has testified before the Florida Public Service Commission, the Indiana Public Service Commission, the Virgin Islands Public Services Commission, and District Courts in Florida and Michigan. Industry Presentations and Publications • National Rural Electric Cooperative Association, "Electric Utility Rates in a Competitive Environment", NRECA Managers Conference; Denver, Colorado, 1995 • National Rural Electric Cooperative Association, "Innovative Electric Rates", NRECA Marketing, Member Services and Communication Conference; Portland, Oregon, 1995 • National Rural Electric Cooperative Association, "Electric Utility Rate Making", NRECA National Directors Conference; Nashville, Tennessee, 1996 • South Carolina Section of the American Water Works Association, "Water and Wastewater Impact Fees ", 2001 Management Forum, 2001 • Florida Water Resources Association, "Water Rates and Conservation Practices", 2007 Florida Water Resources Conference • Florida Rural Water Association, "Communicating Water Utility Needs", 2010 Florida Rural Water Association's Annual Technical and Training Conference • North Florida Section of the American Water Works Association, "Innovative Water Rates", July 2011 • American Water Works Association, "Utility Impact Fees: Practices and Challenges" with Bryan Mantz, Awarded the Management and Leadership Divisions Best Paper Award for 2013 -3- ROBERT CPA PRESIDENT Profile Mr. Ori is a managing principal of PRMG, a utility and financial rate, management, nd business consulting firm serving primarily the public sector that focuses on pecialized utility rate, infrastructure, and business issues facing the water, vastewater, reclaimed water, solid waste, natural gas, electric, and stormwater utilities. Mr. Ori has performed utility revenue sufficiency and cost of service ,tudies for retail, wholesale, and wheeling service for over 135 local governments; ias prepared financial feasibility and disclosure reports for approximately 85 ransactions totaling over $5 billion in proceeds from the traditional bond market, ,tate revolving loans and rural development loans; has prepared financial due Diligence evaluations for over 35 separate utility transactions (several with bundled assets); has served as the public service commission staff in the evaluation of Franchised utility rate cases and has submitted testimony as an expert witness in support of rates for local government; and has developed specialized rates such as low and high pressure reclaimed water rates, raw water rates, conservation rates, wholesale service and emergency service rates, development charges, and miscellaneous customer service rates. Mr. Ori has also been involved in the preparation of the capital improvement element for comprehensive land use plans, development and monitoring of municipal budgets, preparation of financial policies regarding liquidity and financial position, developed extension policies and agreements, assisted in development of service and capacity sales agreements and gotiations, provided litigation support litigation services, participated in contract ne and other related accounting, utility and public management advisory services. Mr. Ori has been a frequently invited speaker addressing rate, accounting, and industry issues and is actively involved in the American Water Works Association (AWWA) Rates and Charges Committee and the Finance, Accounting and Management Controls Committee. He is a contributing author to the newest addition released of the M29 Manual — Water Utility thZealvllnManualtly Principles y AWWA f Water and for current update being prepared for Rates, Fees, and Charges. Relevant Project Experience Martin County, FL Mr. Ori has served the water, wastewater, and solid waste departments of Martin County since 1994 and has performed a variety of utility services for the County. The initial services were associated with the consolidation and perfonnance of a rate evaluation to unify under a single enterprise and financing system three separate systems. In order to address the utility rate needs, Mr. Ori directed the development which included the re -structuring of utility of a detailed cost of service analysis, rates, development of reclaimed water rates, and the design of system development fees. Mr. Ori assisted in the financial valuation and acquisition of 11 privately - owned utilities to bring the utilities under public ownership, eliminate small wastewater treatment systems, and to further regionalize system service to promote economies of scale. Mr. Ori also developed financial forecasts, rate covenant and additional bonds tests, and assisted in the rating agency presentations for seven lying fund loan separate bond issues totaling $140,840,000 in bond and state revo -1- proceeds. He also directed the development of a detailed solid waste business forecast to model the financial needs of the system and to develop tipping or disposal fees and collection fees, including the amount of fees that should be on the ad valorem tax bill (assessment) for residential service. Other services have included the development of wholesale service assisted with charges and assisted with the negotiation of a water and sewer capacity swap with the City of Stuart, FL, development of reclaimed water rates and large user agreements, providing assistance for the development of a wastewater extension/septic tank replacement program, development of a price index rate adjustment formula for operating margin maintenance, and providing on-going utility rate and financial services. City= of West Balm Beach, FL Mr. Ori has performed a variety of utility services for the City since 1994. He directed the development of a detailed utility rate study for the City's water, wastewater, and stormwater enterprise funds. Responsibilities included overseeing the development of a detailed billing frequency to identify customer use attributes by class, development of a five-year revenue requirements analysis and capital funding plan, the design of rates for service including a water conservation rate structure, and the design of other rates including raw water rates, wholesale water and wastewater rates for full and emergency service, system development charges, and miscellaneous fees for service. Mr. Ori has continuously updated this study on behalf of the City. Mr. Ori also developed financial forecasts, rate covenant and additional bonds tests, financial disclosure reports, and assisted in the rating agency presentations for ten separate bond issues totaling $483,145,000 in bond proceeds, including the East Central Regional Treatment Operations Board financing which the City is the administrator for the facility. Other services have included providing assistance in wholesale service agreements, development of capital funding analyses in support of the utility master planning process and water treatment facility options, and other ongoing rate and financial services. Alexandria Renese Enterprises (City of Alexandria), VA Mr. Ori directed the development of a detailed revenue sufficiency analysis and rate evaluation for the AlexRenew wastewater utility. The evaluation included the development of a ten-year financial forecast of revenue requirements, which recognized a joint capacity partner in the treatment facility, the development of financial targets and performance measures based on best management practices and credit evaluation criteria, implementation of a new rate structure to increased fixed cost recovery and promote revenue stability, and the development of a sustainable capital finance plan. The financial forecast model has been updated annually and serves as the basis for the development of the annual utility budget. Most recently, Mr. Ori assisted in the conversion of moving from a quarterly to a monthly based billing process. Other services have included the development of sewer deduct and metering policies, review of customer service and billing agreements, and preparing financial forecasts and rate covenant evaluations associated with securing low interest loans from the Virginia Resources Authority. Hillsborough Counter, FL Mr. Ori has performed a variety of services to the County over the past twenty years. The first engagement directed by Mr. Ori was an evaluation of the financial position, rates, and business issues and the identification of alternatives to improve financial performance and sustaining rates. This led to the development of the Blue Ribbon -2- Committee by the Board of County Commissioners that developed a strategy / list of recommendations to improve the utility; Mr. Ori served as the lead consultant assisting the County staff during the Blue Ribbon Committee deliberations. Mr. Ori also directed the preparation of a detailed cost of service analysis to modify the rates for service. Attributes included the development of a detailed billing frequency to identify customer use attributes by class, development of a five-year revenue requirements analysis and capital funding plan, the design of innovative rates for service based on an equivalent residential unit basis (flow based by customer, not by meter size) which also included a water conservation rate structure, and the development of a purchased water pass-through adjustment and a price index adjustment clause to allow for operating margin stability. Mr. Ori also developed a financial disclosure report including rate covenant and additional bond compliance tests, assisted in the preparation of language revisions to the governing bond resolutions for operating, financing and accounting issues, and participated in the rating agency presentations for the Series 2010 Bonds (including Build America and Economic Recovery Bonds) issues totaling $150,000,000 in bond proceeds. He also directed the development of a detailed solid waste business forecast to evaluate the financial needs of the system and to develop tipping or disposal fees and collection fees, including the amount of fees that should be on the ad valorem tax bill (assessment) for residential service. The financial forecasts for the water and wastewater system and the solid waste system have been updated annually as part of the County's strategic planning process. Fairfax County, VA Mr. Ori directed the development of a detailed revenue sufficiency analysis and rate evaluation for the Fairfax County wastewater utility. The evaluation included a ten- year financial forecast of revenue requirements, which recognized the County's participation in several joint wastewater treatment capacity partnerships, the development of financial targets and performance measures based on best management practices and credit evaluation criteria, implementation of a new rate structure to increased fixed cost recovery and promote revenue stability, and the development of a sustainable capital finance plan. The financial forecast model has been updated annually and serves as the basis for the development of the annual utility budget and the ongoing five-year adopted rate schedule. Mr. Ori also developed a financial disclosure report including rate covenant and additional bond compliance tests for the Series 2010 Bonds issues totaling $152,255,000 in bond proceeds. Other services have included: the performance of a financial evaluation associated with the potential acquisition of both a private and public utility system; the development of a wastewater capacity lease and sales agreement, including the price of such capacity, with another public utility in a jointly owned treatment facility, assistance in the development of a capital project tracking system; and the design of water system filing criteria for the regulation of water systems by the County. City of Melbourne, FL Mr. Ori directed the development of a detailed five-year revenue requirements evaluation and designed rates for both retail and wholesale service based on an equivalent residential unit basis (flow based by customer, not by meter size) which also included a water conservation rate structure. Mr. Ori also performed a water and wastewater system development or impact fees and carry charge analysis as part of the rate evaluation study. Mr. Ori has periodically updated the financial model on -3- behalf of the City to adjust rates to maintain financial performance and fund the revenue requirements of the system. Mr. Ori also developed financial forecasts, rate covenant and additional bonds tests, financial disclosure reports, and assisted in the rating agency presentations for two separate bond issues totaling $60,830,000 in bond proceeds. Other services have included: i) the development of an impact fee expansion percentage in support of determination of the rate covenant on an ongoing basis; ii) developed the capital financing plan application in support of securing low- interest loans from the state revolving loan fund program; and iii) the evaluation of miscellaneous charges and rate ordinance modifications on behalf of the City. Newton County Mater and Suver Authority, GA This project directed by Mr. Ori included the development of a five year financial forecast model and revenue sufficiency analysis to evaluate financial performance, revenue sufficiency, and the ability to sustainably fund the capital needs of the water and wastewater utility system. The analysis also included the phase-in of a re -design of rates to eliminate minimum water use allowances in the base charge, increase large customer fixed cost contributions based on implied capacity availability, increase water conservation incentives, and to promote revenue stability and fairness and the development of a purchased water pass-through consumption charge mechanism. Other services have included: evaluation of the wholesale wastewater effluent disposal charges for land application; review of customer billing and late fee application, development of large user rates for industrial customers, and providing continued financial model updates to monitor rates and financial conditions. Lee County, FL Mr. Ori directed the preparation of a comprehensive cost of service study for the water and wastewater system which included a detailed customer billing frequency analysis, development of net revenue requirements, identification of a capital financing plan and cash flow evaluation, and the design of rates for service. Subsequent to the rate evaluation, Mr. Ori was responsible for overseeing the preparation of the financial due diligence, development of a system financial and rate consolidation analysis, and preparation of the bond feasibility disclosure report in support of the issuance of $134,615,000 in utility revenue bonds which financed a utility acquisition that increased the water customer base by 64% and the wastewater customer base by 37%. Since the acquisition, Mr. Ori has been involved in a number of projects for the County, including i) the preparation of detailed bond feasibility reports for three transactions totaling $233,595,000 in bond proceeds; ii) the preparation of an update to the rate study to adopt a series of multi-year rate adjustments which were approved by the Board of County Commissioners as presented; iii) assisted in the valuation and negotiations of the purchase of the Gateway Services District wastewater treatment plant and regional site and the development of a separate bulk wastewater services agreement; iv) development of a detailed financial policy for the utility (maintenance of operating and capital reserves, financial targets, and long-term revenue sufficiency which was adopted by the Board of County Commissioners); and v) performing other miscellaneous services as requested by the County from time to time (e.g., development of a capital planning tool for staff to evaluate changes in CIP planning, evaluation of absorption of other private and publically-owned utilities in the County, design of reclaimed water rates, etc.). He also directed the development of a detailed solid waste business forecast to evaluate the financial needs of the system and to develop tipping or C;0 disposal fees and collection fees, including the amount of fees that should be on the ad valorem tax bill (assessment) for residential service. Collier County, FL Mr. Ori has been involved in directing numerous projects for the County since 2001. Mr. Ori has directed: i) utility rate studies which involved the evaluation of the financial requirements of the utility, including the development of a sustainability plan (primary objectives being capital re -investment and financial sustainability) and the adoption of a multi-year rate phasing plan that was approved by the Board of County Commissioners; ii) the development of water and wastewater impact fees; iii) the design of wholesale rates; iv) assisting in the development of a reclaimed water policy, ordinance, major and basic user agreements for service, and the design of low and high pressure reclaimed water rates; and v) the development of a bond feasibility disclosure reports in support of the issuance of $157,515,000 in bond proceeds. He also directed the development of a detailed solid waste business forecast to evaluate the financial needs of the system and to develop tipping or disposal fees and collection fees, including the amount of fees that should be on the ad valorem tax bill (assessment) for residential service. Other Representative Clients Served • Brevard County, FL • Stafford County, VA • St. Marys, GA • City of Sunrise, FL • Florida Governmental Utility Auth., FL • City of Palm Coast, FL • Town of Davie, FL • East Central Regional Wastewater Treatment Operations Board (Palm Beach County, Cities of West Palm Beach, Riviera Beach, Lake Worth and Town of Palm Beach), FL • City of Sunrise, FL • Town of Vernon, CT • Ascension Parrish, LA • Manatee County, FL • Hernando County, FL • Sarasota County, FL • Loudon County, VA • City of Waycross, GA • City of North Port, FL • Key Largo Wastewater Treatment District, FL • Town of Leesburg, VA • City of Oviedo, FL • City of Miramar, FL Litigation Services Presented testimony as an expert witness or provided litigation support services before the following state and federal jurisdictions on utility rate, acquisition, and cost of service issues. Lake Osborne Waterworks, Inc. vs. City of Lake Worth, Florida in the Circuit Court of the 15th Judicial Circuit in and for Palm Beach County, Florida — Case No. 502014 -CA -008137 ea Fletcher Allen, et. al. vs. The Water Works Board of the City of Birmingham in the Circuit Court of Jefferson County, Alabama — Civil Action No. CV 2009 908 • City of Marco Island vs. State of Florida in the Circuit Court of the Twentieth Judicial Circuit in and for Collier County, Florida — Case No. 06 -261 -CA -TB -5- Citrus County Water and Wastewater Regulatory Authority Docket No. WS -05- 01 Pine Island Community Development District v. State of Florida Validation Hearing Case No. 04-CH3084 Fifth Judicial Circuit in and for Lake County Hillsborough County, Public Utilities Commission — Windermere Utility Co., Inc. (No Docket) * Sarasota County, Public Utilities Commission — AquaSource Utilities, Inc. (No Docket) Sarasota County, Public Utilities Commission — Siesta Key Utilities, Inc. (No Docket) Town of Ft. Myers Beach, Lee County — Twentieth Judicial Circuit Case No. 99- 1753-CA-JBR Polk County Utilities Commission — Grenelefe Utilities Co., Inc. (No Docket) Charlotte County, Florida — Docket No. 92 -106.06 -WS * Louisiana Public Service Commission — Docket No. U-15684 * North Carolina Utilities Commission — Docket No. G-21, Sub 235 Federal Energy Regulatory Commission — Docket No. ER83-369 Twentieth Judicial Circuit Court, Collier County, Florida — Case No. 95 -2052 - CA -01 -TB Seventeenth Judicial Circuit, Broward County, Florida — Case No. 93-13263-14 Circuit Court of St. Charles County, State of Missouri — Case No. CV196- 7425CC Circuit Court of the Sixteenth Judicial Circuit of the State of Florida, in and for Monroe County, Florida General Civil Division — Case No. CA -K-00-1525 Circuit Court of the Eighteenth Judicial Circuit in and for Seminole County, State of Florida— Case No. 01 -CA -1921-16-9 * Circuit Court for Pinellas County, Florida General Civil Division — Case No. 98- 000747 -CI -011 American Arbitration Association — Town of Vernon, CT and Vernon W.P.C.A. vs. Town of Ellington and Ellington W.P.C.A. — Case No. 12 199 00150 98 City of West Palm Beach, et al. v. Department of Community Affairs and Palm Beach County — Case Nos. 04-4336GM, 04-4337GM, and 04-465OGM City of Treasure Island vs. City of St. Petersburg in the Circuit Court for Pinellas County, Florida Circuit Civil Division — Case No. 08 -15359 -CI -I 1 Charlotte County Board of County Commissioners, Waste Management of Florida, Inc. Rate Case, Docket No. WM016-001-SW Industry Publications Contributing Author for the most recent published volume of the AWWA Manual of Practice 29 (M29): Fundamentals of Water Utility Capital Financing, Fourth Edition. M Contributing Author for the current update of the AWWA Manual of Practice I (MI): Principles of Water Rates, Fees and Charges, Seventh Edition currently under review by AW WA and scheduled for public release in late 2016. Presentations / Other Community Services * Florida Government Finance Officers Association, "Capital Financing Plan: What Are My Options?" 2016 FGFOA Annual Conference, Orlando, FL, June 14, 201.6. * Florida Water Resources Journal, "Preparing for Rate Studies and Bond Financings: Is Your Utility Ready?" May 2013 issue. Broward Leaders Water Academy, "A Water and Wastewater Utility Perspective on Water Supply and Pricing," January 11, 2013. Florida Section of the American Water Works Association, 'Preparing for Rate Studies and Bond Financings: Is Your Utility Ready?" Fall 2012 Conference, Orlando, Florida, November 27, 2012. American Water Works Association Journal, "Utility Rates and the Political Environment," August 2011.issue with Bryan Mantz. Article received the 2011 AWWA Management and Leadership Division Best Paper Award. Florida Government Finance Officers Association, "Financial Analysis of Utility Systems", Annual Conference, Orlando, Florida, May 25, 2010. * Florida Government Finance Officers Association, "Utilities are Big Business" Annual Conference, Tampa, FL, June 2, 2009. The First Idaho Wastewater Reuse Conference, Managing Wastewater Reuse Implementation as an Emerging Utility" with Blair Troutman, May 24-25, 2005 Boise. ID. * Florida Government Finance Officers Association, 'Developing Meaningful Management Reports," Annual Conference, Tampa, Florida, May 4, 2004. Member of the Charter Review Committee for the City of Winter Springs, Florida, 2001. Seventh Annual American Water Works Association Customer Service Workshop, "Contract Operations: The Martin County Experience," Tampa, Florida, March 22, 1998. American Water Works Association, "Competition and Customer Service," 1997 Conference on Customer Service Issues, Stuart, Florida, January 24, 1997. Member of Florida Section American Water Works Association Water Conservation Committee 1992-1997. -7- * American Water Works Association, 'Public -Private Partnering for Utility Infrastructure Financing in Collier County, Florida," 1995 Annual Conference & Exposition, Anaheim, California, June 18-22, 1995. * Florida Water Resources Journal, "Innovative Water Conservation Ratemaking," August 1995 issue. American Water Works Association, "Utility Acquisitions," Conference on Water Utility Financing, Orlando, Florida, April 1, 1993. * 1992 Florida Water Resources Conference, "Establishing Water Conservation Rates," 67th Annual Conference, Daytona Beach, Florida, November 1-4, 1992. Florida Government Finance Officers Association, "Water Conservation Rates and Solid Waste Variable Rates," 49th Annual Conference, Miami, Florida, April 7-10,1991. American Water Works Association, "Innovative Financing Alternatives," Conference on Water Management Issues, Sarasota, Florida, August 16, 1990. In MURRAY M. HAMILTON, JR.. CPA ASSOCIATE Profile Mr. Hamilton has over twenty-one (21) years of financial and accounting experience and serves as an Associate of PRMG focused on utility rate, infrastructure, and business issues facing the water, wastewater, reclaimed water, solid waste, natural gas, electric, and stormwater utilities. Mr. Hamilton's experience includes fourteen years of providing financial consulting services to utility and governmental entities developing utility business plans and financial forecasts, designing utility rates, capacity fees, municipal impact fees, and other miscellaneous charges for utility and governmental services. He has served over thirty clients including county & municipal governments and utility authorities. Relevant Project Experience Mr. Hamilton has participated in projects for over thirty clients since 2003. The following project examples summarize Mr. Hamilton's relevant professional experience. City of Stuart, FL Mr. Hamilton has served the City of Stuart since 2004 providing utility rate, financial planning, and management consulting services to the water, wastewater, and solid waste systems. Mr. Hamilton has participated in three comprehensive water and wastewater rate studies and a solid waste rate study that emphasized revenue stability, fairness between customers with similar uses or demands, conservation of resources and system capacity, and the overall financial health of the utility systems. In addition, Mr. Hamilton assisted the City with developing capacity fees, wholesale water and wastewater rates, and reclaimed water rates. Mr. Hamilton's studies for the City have included the evaluation of alternative capital financing plans and business strategies surrounding alternative water supply issues and expansion of City sewer service. Based on the adopted sewer expansion plans, Mr. Hamilton further assisted the City with obtaining long-term financing through the State Revolving Fund Loan Program. Fort Pierce Utilities Authority, FL Mr. Hamilton has served the Fort Pierce Utilities Authority (FPUA) since 2005 providing utility rate, financial planning and management consulting services to the water, wastewater, electric and natural gas systems. FPUA does not maintain its own electric generating units, and purchases 100% of its energy needs for electric resale. Mr. Hamilton assists FPUA staff to evaluate its Power Cost Adjustment factor to recover wholesale power costs on an ongoing basis. Mr. Hamilton also assists FPUA staff with evaluating and presenting different cost recovery options to the FPUA Board. Mr. Hamilton has participated in two comprehensive water, wastewater, electric and natural gas rate studies since 2005, and annual updates to the financial projections since 2011. The annual updates have provided FPUA staff with a cost effective approach to revising the rate plan each year to coincide with the annual budget process, and to adjust the rate plan as needed. In recent years, the studies have focused on ensuring that each utility system, on a stand-alone basis, is recovering the current costs of service, which has resulted in decreases to the electric rates and increases to the water, wastewater, and natural gas rates. In addition to these services, Mr. Hamilton has assisted FPUA with evaluating connection and developer fees, wholesale water and wastewater rates, and large user/economic development rates. City of Ocala, FL Mr. Hamilton has served the City of Ocala since 2006 providing utility rate, financial planning, and management consulting services to the water and wastewater systems. Mr. Hamilton participated in two comprehensive water and wastewater cost of service/rate studies in 2006 and 2014, and several annual updates to the financial projections from 2008 to 2013. The rate studies emphasize revenue stability, fairness between customers with similar uses or demands, conservation of resources and system capacity, and the overall financial health of the utility system. The rate study recommended a new approach to billing master -metered residential accounts based on a per -dwelling unit approach, which was adopted by the City. This new method better aligned the master -metered residential service class rates with the cost of providing water and wastewater services. The City implemented rates in Fiscal Year 2015 as a result of the adopted plan, and will continue to monitor the plan each year through annual updates. The annual updates have provided City staff with a cost effective approach to revising the rate plan each year to coincide with the annual budget process, and to adjust the plan as needed. In addition to these services, Mr. Hamilton has assisted the City with evaluating capacity fees, wholesale water and wastewater rates, and economic development incentives. City of Lakeland, FL Mr. Hamilton has served the City of Lakeland since 2009 providing utility rate, financial planning, and management consulting services to the water and wastewater systems. Mr. Hamilton participated in a comprehensive water and wastewater cost of service/rate study in 2009, and annual updates to the financial projections in subsequent years. In years preceding the original rate study in 2009, the City was experiencing significant volatility in revenues due to the existing rate structures and changes in water demands that resulted from a combination of factors including weather conditions, declining economic conditions, and an emphasis on water conservation. The rate study focused on revenue stability, fairness between customers with similar uses or demands, conservation of resources and system capacity, and the overall financial health of the utility systems. At the conclusion of the study, the City adopted a three year rate plan that has been revised annually. In addition to these services, Mr. Hamilton has assisted the City with evaluating capacity fees, and miscellaneous utility charges for the water and wastewater systems. Polk County, FL Mr. Hamilton has served Polk County since 2013 providing utility rate, financial planning, and management consulting services to the water and wastewater systems. Over the last two years, Mr. Hamilton has participated in water and wastewater financial forecast, a bond feasibility study associated with the issuance of $53.6 Million in utility revenue bonds, a comprehensive cost of service/rate study and an alternative water supply analysis. In addition to these services, Mr. Hamilton has also assisted the County with evaluating capacity fees, and miscellaneous utility charges. -2- Other Representative Clients Served Cities of: • Apopka, FL • Cape Coral, FL • Casselberry, FL • Clennont, FL • Crystal River, FL • Dundee, FL • Groveland, FL • Haines City, FL • Hallandale Beach, FL • Inverness, FL • Leesburg, FL Other Agencies: • Charlotte County Utilities (CCU) • Greater Pine Island Water Association • Immokalee Water and Sewer District • Jacksonville Electric Authority (JEA) • Melbourne, FL • North Port, FL • Oakland Park, FL • Oviedo, FL • Palm Bay, FL • Panama City, FL • Panama City Beach, FL • Sanford, FL • Valdosta, GA • Winter Garden, FL • Winter Springs, FL • Okeechobee Utility Authority • Virgin Islands Water & Power Authority Regulatory Cases Mr. Hamilton has provided analytical support for regulatory/rate cases between the Virgin Islands Water and Power Authority and the Virgin Islands Public Service Commission. He has assisted in the preparation of testimony, documentation, and analyses to support the water rate cases and other matters filed on behalf of the Virgin Islands Water and Power Authority. Industry Presentations Florida Government Finance Officers Association, "Financial Analysis of Utility Systems". Annual Conference, Orlando, Florida, May 25, 2010. -3- SHAWN A. OAST .ATE CONSULTANT Profile Mr. Ocasio has seven (7) years of rate and financial consulting experience and serves on a rate consultant for PRMG. Mr. Ocasio has provided analytical support so a triety of projects for water, wastewater, reclaimed water, stormwater, and solid aste management enterprise systems throughout the States of Florida, Alabama, id Virginia. These assignments have included evaluating the financial performance f utility enterprise systems, performing customer statistical analyses, developing ,venue and expense projections, assisting in the development of capital funding �enarios and financing plans, designing user rates based on cost of service rinciples, and developing utility and general municipal impact fees. He has also eveloped client -specific computer rate and financial models to assist in quantifying nd projecting the costs of providing utility services. televant Project Experience "ity of Oviedo, FL Or. Ocasio assisted in the perfonnance of a comprehensive rate study for the City's Nater, wastewater, and reclaimed utility system. This project required the development of a five (5) year financial forecast model and revenue sufficiency analysis to evaluate the revenue sufficiency of the water and wastewater utility system. A capital funding strategy was also developed with city staff to optimize the utilization of existing cash resources while also employing additional borrowing to mitigate customer rate impacts. The analysis included the design of a multi-year rate plan to phase-in, over several years, the City's two wastewater rates into a single unified rate structure. Additionally, Mr. Ocasio assisted in performing a utility impact fee analysis for the , levels of servicwhich euded a review of the systems fixed e and the development f proposed feests, capital improvement plan City of Sanford, FI Mr. Ocasio has performed a range of services for the City since 2011. He has assisted in the development of several detailed rate studies for the City's water & wastewater and stormwater enterprise funds. Responsibilities included the development of a detailed billing frequency analysis to identify customer use attributes by class, development of a five-year revenue requirements analysis and capital funding plan, and the development of rate adjustment recommendations. He has also performed annual revenue sufficiency study updates for the water and wastewater system to assist the City in evaluating its financial performance as it relates to their overall rate plan and financial strategy. Additionally, he has assisted in the preparation of capital financing plans in support of State Revolving Fund (SRF) Loans. Mr. Ocasio has also developed a long-term (20 year) financial forecast of revenues, expenses, and capital funding requirements for the stoi-mwater system in order to aid the City in developing a rate plan that balanced short term needs with long term sustainability. City of St. Augustine, FL Mr. Ocasio has provided consulting and analytical support in the performance of an in depth revenue sufficiency review and rate study for the City's water aal nd wastewater utility system. He has developed a detailed ten (10) y -1- forecast model to evaluate the sufficiency of revenues to cover the utility's operating, capital and other expenditure needs. This task required an in depth review of the City's customer billing records in order to develop a detailed customer sales projection, billing frequency analysis and revenue model as well as a review of historical and budgeted system operating expenditures as the basis for projecting expenditures. Additionally, Mr. Ocasio assisted in performing a detailed utility impact fee analysis for the City. City of Winter Garden, FL, Mr. Ocasio has assisted in an analysis of the City's police, fire protection, and recreational municipal impact fees. During the course of this project, he performed an analysis of population projections, dwelling unit relationships, and developed corresponding growth projections. He also assisted in discussions with the City regarding the determination of level of service (LOS) standards and the capital requirements needed to serve new development. Mr. Ocasio assisted in the design of the impact fees for the residential and non-residential customer classes. Other Representative Clients Served Cities of: • Apopka, FL • Auburn, AL • Bonita Springs, FL • Cape Coral, FL • Casselberry, FL • Clermont, FL + Marathon, FL • Ocala, FL Other Agencies: • Alexandria Renew Enterprises, VA • Charlotte County, FL • Collier County, FL • Fairfax County, VA • Hillsborough County, FL • JEA (Jacksonville), FL N • Ocoee, FL • Panama City Beach, FL • Port Orange, FL • St. Pete Beach, FL • Stuart, FL • Treasure Island, FL • West Palm Beach, FL • Winter Garden, FL • Lee County, FL • Manatee County, FL • Palm Beach County, FL • Sarasota County, FL • Midway Water System, Inc., FL • Okeechobee Utility Authority, FL NICHOLAS T. SMITH SENIOR RATE ANALYST Profile Mr. Smith serves as a senior rate analyst for the firm and has three years of professional xperience in rate and financial consulting services. Mr. Smith provides analytical upport for projects involving water, wastewater, and solid waste enterprise systems ocusing on data analysis and financial forecasts and utility rate studies. These projects [ave involved tasks including customer statistical analyses, projections of system evenues and expenditures, and developing client -specific financial models. kelevant Project Experience LeLeCounty, FL Smith has assisted on multiple projects for the County, including updating the Financial forecast for the water and wastewater system and the development of a -,omprehensive revenue sufficiency study for the County's solid waste system. The solid waste study included review and analysis of historical operating results, customer billing and tonnage statistics, waste -to -energy (WTE) facility operations and agreements to identify revenue sufficiency. Additionally, Mr. Smith assisted in the multi-year design of solid waste disposal fees and assessment rates. Hernando County, FL Mr. Smith assisted in the development of a detailed ten-year financial forecast to evaluate the sufficiency of revenues to cover the solid waste system's operating, capital, and other expenditure needs. This assignment required an in-depth analysis of the County's historical and budgeted operating expenses and customer statistics to serve as a basis for expenditure and revenue projection. Additionally, an analysis of landfill capacity utilization, cost of closure, and long-term care expenses was prepared to identify the required transfers to the County's closure and capital improvement funds, as required by the Florida Department of Environmental Protection. Sarasota County, FL f Mr. Smith assisted in the development oa ten-year Fire Assessment and Emergency ments forecast. Throughout the study he Medical Services (EMS) revenue require performed projections of assessment and ad -valorem tax revenues, operating expenses, the funding of capital projects and personnel allocation between Fire and EMS. From these analyses he was able to assist in developing projected fire assessment rates and the EMS component of the County's property tax millage rate. Other Representative Clients Served Cities of: Edgewater, FL St. Augustine, FL Eustis, FL Other Agencies: • Florida Governmental Utility Authority, FL • Collier County, FL • Manatee County, FL • Hernando County, FL • Apopka, FL • West Palm Beach, FL • Lakeland, FL • Alexandria Renew Enterprises, VA • Hillsborough County, FL • Virgin Islands Water and Power Authority z, e �'�, t .w- ...'�- �e ' 5 S# G 'i � h it ( �, i . 3y, 7 ... {ate a7-77777777, a PRMG's proposed fee is $23,100 as developed in detail on Table 5-1 below. The proposed fee set forth on Table 5-1 is based on the estimated effort by task and job classification, and on standard hourly billing rates shown on Table 5-2. For additional services that may be requested, such as a bond feasibility study, the billing rates shown on Table 5-2 shall apply. The proposed fee includes allowances for directly related out-of-pocket expenses, such as travel, telephone, and report production. Line No Table 5-1 City of Sanford, FL Project Cost Estimate for Utility Rate Study Project Manager t Principal -in- Charge Associate Rate Consultant Senior Rate Analyst Admin. Totals I Project StaffBilling Rates (S/Hr.) 5190.00 S150.00 51.05.00 585.00 555.00 Utility Rate Studv -Nater Sewer ,& Reclaimed Nater Z Task I- Kick off Meeting / Prepare Data Request 3 0 6 0 0 9 3 Task'_' - institutional Background Review,' Data Collection 1 0 8 0 0 9 4 Task 3 - Preparation of Utility Customer. Sales mid Revenue Forecasts 0 _ S S 0 is 5 Task 4 - Utility System Revenue Requirements Analysis 0 2 16 S 0 26 6 Task 5 - Analyze Capital Funding Platt, Including Financing Options 4 0 S 0 0 12 7 Task 6- Develop Cash Flow Projections Under Existing Rates 0 0 4 4 0 S 8 Task 7- Design of Morahly Rates 0 0 S 4 0 12 9 Task S- Develop Cash Flow- Projections Under Proposed Rates 0 0 4 4 0 S 10 Task 9 - Review Compliance with Bond Covenants 2 2 6 0 0 10 11 Task 10 - Conduct Interactive \York Sessions with City Staff S 0 8 0 0 16 12 Task 11 - Prepare Rate Comparisons 0 0 4 4 0 S 13 Task 12 - Prepare Rate Study Report and Briefing Documents 4 2 16 4 8 34 14 Task 13 - Present Study Results S 0 8 0 0 16 15 Project Management 6 2 0 0 4 12 16 Total Hours 36 10 104 36 12 19S 17 Direct Labor Cost 56.840 SI.500 S10.920 53.060 5660 522,980 18 Direct Expenses (Report Reproduction) 5120 S23,100 19 Total Project Cost 5-1 Section 5 — Fee Structure and Price (continued) Table 5-2 PUBLIC RESOURCES MANAGEMENT GROUP, INC. SCHEDULE OF DIRECT LABOR HOURLY RATES AND STANDARD COST RATES DIRECT LABOR HOURLY RATES [*1 Direct labor hourly rates effective twelve months after the date of execution of the Agreement; rates will be adjusted by not more than the net percentage change (but not less than 0%) in the Consumer Price Index — Urban Consumers per annum (rounded to the nearest dollar) or as mutually agreed between parties for invoices rendered after each anniversary date of each year thereafter until project completion or termination of the Agreement between the parties. STANDARD COST RATES Expense Description Mileage Allowance — Personal Car Use Only Reproduction (Black and White) (In-house) Reproduction (Color) (In-house) Reproduction (Contracted) Computer Time Telephone Charges Delivery Charges Lodging/Other Travel Costs Meals Subconsultant Services Other Costs for Services Rendered Standard Rates [*] IRS Standard Mileage Rate $0.05 per Page $0.25 per Page Actual Cost $0.00 per Hour Actual Cost Actual Cost Actual Cost Not -to -exceed per PRMG Employee: $8.00 — Breakfast $12.00 — Lunch $25.00 — Dinner Actual Cost plus 5.0% Actual Cost [*] Standard cost rates effective twelve months after the date of execution of the Agreement; where applicable, rates will be adjusted by not more than the net percentage change (but not less than 0%) in the Consumer Price Index — Urban Consumers per annum (rounded to the nearest dollar) or as mutually agreed between parties for invoices rendered after each anniversary date of each year thereafter until project completion or termination of the Agreement between the parties. Any Standard Rate adopted by policy by Client will supersede rates shown above. 5-2 Direct Labor Project Team Title Hourly Rates [*] Principal $190.00 Associate $150.00 Managing Consultant $135.00 Supervising Consultant $125.00 Senior Consultant $115.00 Rate Consultant $105.00 Consultant $ 95.00 Senior Rate Analyst $ 85.00 Rate Analyst $ 75.00 Analyst $ 65.00 Assistant Analyst $ 55.00 Administrative $ 55.00 [*1 Direct labor hourly rates effective twelve months after the date of execution of the Agreement; rates will be adjusted by not more than the net percentage change (but not less than 0%) in the Consumer Price Index — Urban Consumers per annum (rounded to the nearest dollar) or as mutually agreed between parties for invoices rendered after each anniversary date of each year thereafter until project completion or termination of the Agreement between the parties. STANDARD COST RATES Expense Description Mileage Allowance — Personal Car Use Only Reproduction (Black and White) (In-house) Reproduction (Color) (In-house) Reproduction (Contracted) Computer Time Telephone Charges Delivery Charges Lodging/Other Travel Costs Meals Subconsultant Services Other Costs for Services Rendered Standard Rates [*] IRS Standard Mileage Rate $0.05 per Page $0.25 per Page Actual Cost $0.00 per Hour Actual Cost Actual Cost Actual Cost Not -to -exceed per PRMG Employee: $8.00 — Breakfast $12.00 — Lunch $25.00 — Dinner Actual Cost plus 5.0% Actual Cost [*] Standard cost rates effective twelve months after the date of execution of the Agreement; where applicable, rates will be adjusted by not more than the net percentage change (but not less than 0%) in the Consumer Price Index — Urban Consumers per annum (rounded to the nearest dollar) or as mutually agreed between parties for invoices rendered after each anniversary date of each year thereafter until project completion or termination of the Agreement between the parties. Any Standard Rate adopted by policy by Client will supersede rates shown above. 5-2 ,-on s X-TrIA MAL114il-1 1.01 Description The following Solicitation for (1) Consulting Services Related to Financial Forecast, Rate Determination Utility Revenue Bonds or Other Debt Issuance RFP 16/17-05 is hereby made to (2) City of Sanford. This Response is submitted by Henry L Thomas Email: hthomas(cDprmginc.com Public Resources Management Group Inc. Phone: 407-628-2600 341 North Maitland Ave. Suite 300 FL 32751 (1) Name of Project as shown in the Invitation for Bids (2) City of Sanford, Florida may be referred to as "City" or 'Owner (3) Name, address, email and telephone number of Respondent (is the individual signing this submission is other than an Officer of the Company indicated above, documentation indicating the vested authority to commit the Company must be attached to this transmittal form. 1.02 The Undersigned: A. Acknowledges receipt of: Project Manual and Drawings identified within the Project Manual or specifications and submission documents as provided by the City. 2. Addenda: Number Dated Number Dated Number Dated B. Has examined requirements and details germane to the solicitation site and all related Documents and understands that in submitting his/her response, the respondent hereby waives all right to plead any misunderstanding regarding the same. C. Agrees: To hold this Response open for 90 calendar days after the opening date. 2. The undersigned, acknowledges that the City of Sanford has reserved the right to reject any submissions which are non-responsive or were submitted by a non -responsible entity. 3. If the governing solicitation was an RFQ or an RFP the undersigned agrees to negotiate in good faith and upon agreement to enter into and execute a contract with the City. If the governing solicitation is an IFB, I will execute a contract with the City if I am determined to be the lowest responsive and responsible bidder. 4. To accomplish the work and/or deliveries in accordance with the Contract Documents and ensuing purchase order(s). RFP 16/17-05 Financial Consulting Services 1.04 Miscellaneous Requirements and Affirmations A. Response must be on the Form(s) provided or as directed by the City. Submission Response package shall include one complete set of original documents and one thumb drive or disc which contains the entire response in pdf format. B. I have attached the following required fully executed forms to this Bid: 1. Insurance Certification 2. Non Collusion Affidavit 3. Disputes Disclosure 4. Conflict of Interest Affidavit 5. Public Entities Crime Affidavit 6. Compliance With the Public Records Law Affidavit 7. Respondents Business Information Affidavit 8. Cert. Non -Segregated Facilities 9. Drug Free Workplace Affidavit 10. Experience Listing 1.06 SUBMITTED, signed and sealed this 8th day of - December -, 2016. Public Resources Management Group, Inc. Respondent 4 ba 6 y (Sign ure) bate Henry L. Thomas, Senior Vice President Printed Name and Title 341 North Maitland Ave., Suite 300 Business Address Maitland FL 32751 City State Zip Code 407-628-2600 407-628-2610 Telephone No. Facsimile No. ATTEST: '.2� . .. . .. ........ . By (Signature) Dafe Shawn A. Ocasio, Rate Consultant Printed Name and Title (CORPORATE SEAL) 9 RFP 16/17-05 Financial Consulting Services END OF SECTION 1111110A :I ZATJ [*MIATITA n 14 Lim in DWK-010 19 ZT-IT0 03 MIA -.4 1o] N j, &11010 Eel M63, gablord:1:4417H.1 RM SP -11012: When contract cost not to exceed $580,000; not to exceed 180 days and no unusual hazards exist 1. Vendor, Contractor, bidder shalt provide, to the City of Sanford "City," prior to commencing any work, a Certificate of Insurance which verifies coverage in compliance with the requirements outlined below. Any work initiated without completion of this requirement shall be unauthorized and the City will not be responsible (Ref: items 17 and 18, standard terms and conditions included with City of Sanford Purchase Order). 2. The City reserves the right, as conditions warrant, to modify or increase insurance requirements outlined below as may be determined by the project, conditions and exposure. Outline of Requirements: Certification: It is noted that the City has a contractual relationship with the named vendor, contractor or provider (collectively referred hereinafter as Contractor) applicable to a purchase order, work order, contract or other form of commitment by the City of Sanford, whether in writing or not and has no such contractual relationship with the Contractor's insurance carrier. Therefore, the onus is on the Contractor to insure that they have the insurance coverage specified by the City to meet all contractual obligations and expectations of the City. Further, as the Contractor's insurance coverage is a matter between the vendor and its insurance carrier, the City will turn to the Contractor for relief as a result of any damages or alleged damages for which the Contractor is responsible to indemnify and hold the City harmless. It is understood that the Contractor may satisfy relief to the City for such damages either directly or through its insurance coverage; exclusions by the insurance carrier notwithstanding, the City will expect relief from the Contractor. 10 RFP 16/17-05 Financial Consulting Services UP TO VENDOR POLICY LIMITS, BUT COVERAGE REQUIRED WITH MINIMUM POLICY LIMITS OF: Workers' Compensation Employers Liability $ 500,000 *Certificates of exemption are not acceptable in lieu of workers Each Accident $ 500,000 compensation insurance Disease $ 500,000 Commercial General Liability shall include- Bodily injury liability, Property Damage liability; Personal Injury liability and $ 1,000,000 Per Occurrence Advertising injury liability Coverage's shall include: Premises/ $ 1,000,000 General Aggregate Operations; Products/Completed Operations; Contractual liability, Independent Contractors Comprehensive Auto Liability, CSL, shall include "any auto" or shall include all of the following: owned, leased, hired, non -owned $ 1,000,000 Combined Single Limit autos, and scheduled autos. 1 000,000 General Aggregate Certification: It is noted that the City has a contractual relationship with the named vendor, contractor or provider (collectively referred hereinafter as Contractor) applicable to a purchase order, work order, contract or other form of commitment by the City of Sanford, whether in writing or not and has no such contractual relationship with the Contractor's insurance carrier. Therefore, the onus is on the Contractor to insure that they have the insurance coverage specified by the City to meet all contractual obligations and expectations of the City. Further, as the Contractor's insurance coverage is a matter between the vendor and its insurance carrier, the City will turn to the Contractor for relief as a result of any damages or alleged damages for which the Contractor is responsible to indemnify and hold the City harmless. It is understood that the Contractor may satisfy relief to the City for such damages either directly or through its insurance coverage; exclusions by the insurance carrier notwithstanding, the City will expect relief from the Contractor. 10 RFP 16/17-05 Financial Consulting Services • The insurance limits indicated above and otherwise referenced are minimum limits acceptable to the City. Also, all contractor policies shall to be considered primary to City coverage and shall not Contain co-insurance provisions. • All policies, except for professional liability policies and workers compensation policies shall name the City of Sanford as Additional Insured,. ® In the event that the insurance coverage expires prior to the completion of the project, a renewal certificate shall be issued 30 days prior to said expiration date. • All limits are per occurrence and must include Bodily Injury and Property Damage. • All policies must be written on occurrence form, not on claims made Form, except for Professional liability. • Self-insured retentions shall not be allowed on any liability coverage. ® In the notification of cancellation: The City of Sanford shall be endorsed onto the policy as a cancellation notice recipient. Should any of the above described policies be cancelled before the expiration date thereof, notice shall be delivered to the City of Sanford in accordance with the policy provisions. • All insurers must have an A.M. Best rating of at least A -VII. • It is the responsibility of the Contractor to responsible to ensure that all Subcontractors retained by the Prime Contractor shall provide coverage as defined herein before and after and are the responsibility of said Prime Contractor in all respects. ® Any changes to the coverage requirements indicated above shall be approved by the City of Sanford, Risk Manager ® Address of "Certificate Holder" is: City of Sanford; Attention: Purchasing Manager; P.O. Box 1788 (300 N Park Avenue); Sanford, FL 32771 Phone: 407.688.5028/5030 FAX: 407.688.5021 0 All certificates of insurance, notices, etc. must be provided to the above address. Certification: The Undersigned accepts and agrees to meet all of the insurance coverage requirements, terms, conditions and certification(s) stated herein before and after and further agrees to maintain and provide the designated coverage during the life of the identified document. Also, when the coverage requirements stated herein before and after are specifically referenced by applicable solicitation, purchase order or contract document, those terms, conditions and coverage requirements are incorporated into that document as if fully set forth in verbatim . Public Resources Management Group, Inc. Firm Authorized Signature Henry L. Thomas Printed Name RFP 16/17-05 Financial Consulting Services December 8, 2016 Date Senior Vice President Title 11 The undersigned, by signing this document hereby certifies that the company named below hereby is or does: States that the entity named below and the individual signing this document has submitted the attached bid or proposal: 2. Meisfully informed respecting the preparation and contents ofthe attached pmposadandofal|perUnent circumstances respecting such proposal; 3. Said bid or proposal is genuine and is not a collusive or sham bid or proposal; zL Neither the said bidder or proposer nor any of its offioerG, partners, uvvnerm. oQonta. representatives, employees orparties in interest, including this ofhonL has in any way colluded, conspired, connived or agreed, directly or indirectly with any other bidder, proposer, firm or person to submit a collusive or sham bid or proposal in connection with the Contract for which the attached bid or proposal has been submitted or to refrain from bidding or proposing in connection with such Contnact, or has in any mnannar, directly or indirectly, sought by agreement orcollusion orcommunications orconference with any other bidder, proposer, firm or person to fix the price or prices in the attached bid or proposal or of any other bidder of proposer, or to fix any overhead, profit or cost element of the bid or proposal price or the bid or proposal price of any other bidder or proposer. or to secure through any coUuaion, conspinacy, connivance or unlawful agreement any advantage against the City of Sanford or any person interested in the proposed Contract. 5. The priceor pricesquoted inthe attached bid orproposal are fair and proper and are not tainted bvany collusion, conspiracy, connivance orunlawful agreement onthe part ofthe bidder orproposer orany of its agento, representatives, owners, employees, or parties in intenest, including the individual signing this document. Public Resources Management Group, Inc. Bidder Henry L. Thomas, Senior Vice President Printed or Typed Name and Title of Authorized Representative (Affiant) COUNTYOF-ORANGE STATE OF FLORIDA On this 8th day of1December, 201G.before me, the undersigned Notary Public ofthe State ofFlorida, personally appeared Henry L. Thomas whose name(s) is/areeubscribed to the within instrument, and helshe/theyooknowledQe that he/she/theyexecuted it. WITNESS my hand and official seal. He/She is personally known to me or has produced as identification. (Notary Public inand for the County and State SEAL My commission expires: ±- I I L 17=0 1 cl DONNALCOX MY COMMISSION # FF 2160 W. -%f EXPIRES: APTH 16,2019 END OF SECTION 13 RFP 16/17-05 Financial Consulting Services CONFLICT OF INTEREST AFFIDAVIT The Affiant identified below deposes and states that: I The below named Bidder is submitting an Expression of Interest for the City of Sanford project named above. 2. The Affiant has made diligent inquiry and provides the information contained in this Affidavit based upon his own knowledge. 3. The Affiant states that only one submittal for the above project is being submitted and that the below named Bidder has no financial interest in other entities submitting proposals for the same project. 4. Neither the Affiant nor the below named Bidder has directly or indirectly entered into any agreement, participated in any collusion, or otherwise taken any action in restraint of free competitive pricing in connection with the Bidders submittal for the above project. This statement restricts the discussion of pricing data until the completion of negotiations and execution of the Agreement for this project Neither the Bidder nor its affiliates, nor anyone associated with them, is presently suspended or otherwise ineligible from participating in contract lettings by any local, state, or federal agency. 6. Neither the Bidder, nor its affiliates, nor anyone associated with them have any potential conflict of interest due to any other clients, contracts, or property interests for this project. I certify that no member of the Bidder's ownership, management, or staff has a vested interest in any aspect of or Department of the City of Sanford. 8. 1 certify that no member of the Bidder's ownership or management is presently applying for an employee position or actively seeking an elected position with City of Sanford. 9. In the event that a conflict of interest is identified in the provision of services, 1, on behalf of the below named Bidder, will immediately notify the City of Sanford in writing. Public Resources Management Group, Inc. Bidder Signature of Alithorized Representative (Affiant) Date Henry L. Thomas, Senior Vice President Printed or Typed Name and Title of Authorized Representative (Affiant) COUNTY OF ORANGE STATE OF FLORIDA On this 8th day of December, 2016, before me, the undersigned Notary Public of the State of Florida, personally appeared Henry L. Thomas whose name(s) is/are subscribed to the within instrument, and he/she/they acknowledge that he/she/they executed it. WITNESS my hand and official seal. He/She is personally known to me or has produced , as identification. DMALCOX MYCOWWM#FF EXPIRES: Apiq 16, Banded Tbru NOWY POW U M Public in and for the County and State Aforementioned) nission expires: :� � Le � zon 14 RFP 16/17-05 Financial Consulting Services END OpSECTION FLORIDA STATUTES ON PUBLIC ENTITY CRIMES AFFIDAVIT The Affiant identified below attests hothe following: 1. | understand that a "public entity crime" as defined in Section 287.133U\kd, Florida GtuLuteo, nnamna a violation ofany State or Federal law by a person with respect to and directly related to the transaction of business with any public entity or with an agency or political subdivision of any other ohaba or with the United States, including, but not limited to, any bid or contract for goods or services to be provided to any public entity or an agency or political subdivision of any other state or of the United States and involving antitrust, fraud, theft, bribery, collusion, racketeering, conspiracy, or material misrepresentation. 2. | understand that ''oonvicted" or ^oonviction" as defined in Paragraph 287.133(1)(b), Florida Stadubas, means g finding of guilt or a conviction of a public entity chrnea, with or without on adjudication of guUt, in any Federal or state tho| court of record relating to charges brought by indictment or information after July 1. 1889, aearesult ofa jury verdict, non -jury trial, or entry ofa plea of guilty ornolo contendere. 3. | understand that an "affiliate" as defined in Section 287.133(1)(o), Florida Statutes, means: A predecessor or successor of a person convicted of a public entity crime: or an entity under the control of any natural person who isactive inthe management ofthe entity and how has been convicted ofapublic entity crime. The term "affiliate" includes those officers, dinectona, oxeoutiveo, partners, ahonahu|derm, annp\oymoo, nmennb$rg, and agents who are active in the management ofan affiliate. The ownership by one (1) person of shares constituting a controlling interest in another person, or a pooling of equipment or income among persons when not for fair market value under an arm's length agreement, shall be e prima facie case that one person controls another person. /\ person who knowingly enters into a joint venture with a person who has been convicted of a public entity crime in Florida during the preceding thirty-six (36) months shall be considered an affiliate. 4. 1 understand that a "person" as defined in Section 287.133(l)(e), Florida Statutes, means any natural person orentity organized under the laws of any state or of the United States with the legal power to enter into a binding contract and which bids or applies to bid on contracts for the provision of goods or ean/iceG let by a public entity, or which otherwise transacts or applies to transact business with a public entity. The term "person" includes those 0fficera, direntmna, eXecubvem, partners, shareholders, employees, members, and agents who are active inmanagement ofanentity. 5. Based on information and belief, the statement which | have marked below is true in relation to the entity submitting this sworn statement. (Note: indicate which of the below statements apply) XX —Neither the entity submitting this sworn statement, nor any officers, d|nsobona, executKxao, partners, shareholders, employees, members, V[agents who are active in management of the entity, nor the affiliate of the entity has been charged with and convicted of a public entity crime subsequent to July 1, 1989. The entity submitting this sworn statement, orone ormore of the officers, directors, executives, partners, shareholders, employees, members or agent who are active in management of the entity, or an affiliate of the entity, has been charged with and convicted of a public entity crime subsequent t8July 1,198S. The entity submitting this sworn statement, or one or more of the cfficers, directors, executkxsn, partnenG, shareholders, employees, members or agents who are active in management of the entity, or an affiliate ufthe entity, has been charged with and convicted ofa public entity orinna subsequent toJuly 1.1S89. However, there has been a subsequent proceeding before an Administrative Low Jury of the State of Florida, Division of Administrative Hearings and the Final Order entered by the 15 RFP 16/1nosFinancial Consulting Services Administrative Law Jury determined that it was not in the public interest to place the entity submitting this sworn statement onthe convicted vendor list. (You must attach copy Ofthe final order.) | understand that the submission of this form to the City of Samford is for the city only and, that this form iSvalid through December 31.Ofthe calendar year inwhich biSfiled. | also understand that I80required toinform the City prior to entering in to o contract in excess of the threshold arnmurd provided in section 287.017. Florida Statues, for category two of any change in the information contained in this form. Public Resources Management Group, Inc. 59-3235769 Bidder FEIN No. Signature of �(ufhorized Re�resentative (Affiant) Henry L. Thomas, Senior Vice President Printed or Typed Name and Title of Authorized Representative (Affiant) COUNTY OF -ORANGE STATE OF FLORIDA On this 8 davof December . 2016` before rna the undersigned Notary Public ofthe State ofFlorida, personally appeared whose nanne(s) is/are subscribed tothe within instnunlant, and he/she/they acknowledge that hslahe/theyexeouted it. WITNESS my hand and official sea[. He/She is Personally known to me orhas produced .oeidentification. (Notary Public in and fo� the County and State Aforementioned) SEAL My commission expires: 4 � I (' 12 -US DOMEOM EXPIRES, Apfil 16,2019 16 RFP 1s/z7-0sFinancial Consulting Services Upon avvenj recommendation or ten M[A dove after opening, submittals become "public records" and shall be subject to public disclosure consistent with Chapter 119, Florida Statutes. Proposers/Bidders must invoke the exemptions to disclosure provided by law as applicable to the response to the solicitation, must identify the data or other rncderia|e to be pnotected, and must state the reasons why such exclusion from public disclosure is necessary. The submission of a proposal authorizes release of your firm's credit data to the City of Sanford. If the Bidder submits information exempt from public disclosure, the Bidder must identify with specificity which pages/paragraphs of theirbid/proposa| packageore exempt from the Public Records Act, identifying the specific exemption section that applies to each. The protected information must be submitted to the City in a separate envelope marked accordingly. Bxsubmitting aresponse to this solicitation, the Bidder agrees to defend, indemnify and hold the City harmless in the event we are forced to litigate the public records status of the Bidders documents. Public Resources Management Group, Inc. Bidder / �� ,~/./1,~/1 Sig'ture ofRe-presentative Henry L. Thomas, Senior Vice President Printed or Typed Name and Title of Authorized Representative (Affiant) COUNTY OF -ORANGE STATE OF FLORIDA On this 8th day of December . 2016, before me, the undersigned Notary Pubic of the State of Florida, personally appeared whoeaOWmo(s) is/are subscribed tothe within instrurnant, and he/ahe8hey acknowledge that he/ahe/theyoxecuted it. WITNESS my hand and official sea[. He/She is Personally known to me nrhas produced .aoidentification. (Notary Public in and for the County and State Aforementioned) SEAL My commission expires: -4f i ( 6 1 2q) � C', DONNA L COX EXPIRES: April 16,2Dig Am D RFP 16/17-05 Financial Consulting Services Respondents Business Information Affidavit 1. State the true, exact, correct and complete name of the company, ---�Sole proprietorship, _partnership, X corporation, — trade or fictitious name under which you do business and the address of the principal place of business: Public Resources Management Group, Inc. 341 North Maitland Ave., Suite 300 Maitland, FL 32751 The correct name of the Company is: Public Resources Management Group, Inc. a. FEI/EIN Number: 59-3235769 b. Trade Mark Name: N/A 2. If Offeror is a corporation, answer the following: a. Date of Incorporation: April 18, 1994 b. State of Incorporation: Florida C. President's Name: Robert J. Ori d. Vice President's Name:. Henry L. Thomas e. Secretary's Name: Henry L. Thomas f. Treasurer's Name: Robert J. Ori 9. Name and address of Resident (Florida) Agent: Robert J. Ori, 341 North Maitland Ave., Suite 300, Maitland, FL 32751 3. If Offeror is an individual proprietorship or a partnership, answer the following: a. Date of Organization: N/A b. Name, Address and Ownership Units of all Partners: C. State whether general or limited partnership: 4. If Offeror is other than a sole proprietorship, corporation or partnership, describe the organization and give the name and address of principals: N/A 18 RFP 16/17-05 Financial Consulting Services 5. If Offeror or company is an operation under a fictitious name, submit evidence of compliance with the Florida Fictitious dame Statute. 6. How many years has your organization been in business under its present business name? 22 years 7. Indicate registration, license number or certificate numbers for the businesses or professions which are the subject of the Proposal/Bid. Please attach certificate of competency and state registration. Document No Pg4000030336 9. State the names, telephone numbers and last known addresses of three (3) owners, individuals or representative of owners with the most knowledge of work which you have performed or goods you have provided, and to which you refer (government owners are preferred as references). Charlotte County 18500 Murdock Circle, Room 538 Mr. Gordon Burger 941-743-1944 name address) p one I ILAI I 1156ry Fort Pierce utilities Authority P.O. Box 3191 Ms. Nina Penick Ft. Pierce FL 34948-3191 772-466-1600 (Ext. 3298} ...__- - - - --- -- - ARE riiimrigmri City of Lakeland 228 S. Massachusetts Ave. Mr. Robert Connors Lakeland, FL 33801 863-834-6000 name (address) pone num er THE OFFEROR ACKNOWLEDGES AND UNDERSTANDS THAT THE INFORMATION CONTAINED IN RESPONSE TO THIS QUALIFICATIONS STATEMENT SHALL BE RELIED UPON BY THE CITY IN AWARDING THE CONTRACT AND SUCH INFORMATION IS WARRANTED BY OFFEROR TO BE TRUE._ THE DISCOVERY OF ANY OMISSION OR MISSTATEMENT THAT MATERIALLY AFFECTS THE OFFEROR'S QUALIFICATIONS TO PERFORM UNDER THE CONTRACT SHALL CAUSE THE CITY TO REJECT THE BID OR PROPOSAL, AND IF AFTER THE AWARD TO CANCEL AND TERMINATE THE AWARD AND/OR CONTRACT. J Affiant Henry L Thomas Senior Vice President Typed or Printed Name of Affiant Title State of Florida, County of Orange. On this 8th day of December. 2016, before me, the undersigned Notary Public of the State of Florida, personally appeared Henry L Thomas and (Name(s) of individuals who appeared before notary) whose name(s) is/are Subscribed to the within instrument, and he/she/they acknowledge that he/she/they executed it. WITNESS my hand and official seal., NOTARY PUBLIC SEAL OF OFFICE: NOTARY PUBLIC, DONNAL cox ATE OF FLORIDA Type as Bond !lixutktamyPubk I X Personally known to me, or _ Produced id . ; (Type of Identification Produced) DID take an oath, or DID NOT take an oath. END OF SECTION 19 RFP 16/17-05 Financial Consulting Services The Contractor certifies that no segregated facilities are maintained and will not be maintained during the execution pfthis contract adany ofits establishments. The Contractor further certifies that none of its employees are permitted to perform their services at any location under the Contractor's control during the life of this contract where segregated facilities are maintained. The Contractor certifies further that it will not maintain orprovide for its employees any segregated facilities at any of its eotabUnhrnonts, and that he will not permit his employees to perform their services atany kocaUon. under his control, where segregated facilities are maintained, Asused inthis certification, the term facilities" means any waiting rooms, work area, rest rooms and wash rooms, restaurants and other eating areas, time clocks, locker rooms and other storage or dressing areas, parking lots, drinking fountains, recreation or entertainment areas, transportation, and housing facilities provided for employees which are segregated by explicit directive or are infact segregated on the basis of raue, cnsad` color ornational origin, because ofhabit, local custom, orotherwise. The Contractor agrees that where it has obtained identical certification from proposed subcontractors for specific time periods) it will obtain identical certifications from proposed subcontractors prior to the award of subcontract exceeding $10,000 and that it will retain such certifications in its files. Public Resources Management Group. Inc. Contractor Signature of Aup�orized Representative 'O Henry L. Thomas, Senior Vice President Printed or Typed Name and Title of Authorized Representative 20 RFP z6/z7-o5Financial Consulting Services Answer the following questions by answering "YES" or "NO". If you answer "YES", please explain in the space provided, please add a page(s) if additional space is needed. Has your firm, or any of its officers, received a reprimand of any nature or been suspended by the Department of Professional Regulation or any other regulatory agency or professional association within the last five (5) years? No _ (Y/N) 2. Has your firm, or any member of your firm, been declared in default, terminated or removed from a contract or job related to the services your firm provides in the regular course of business within the last five (5) years? No — (YIN) 3. Has yourfirm had filed against it orfiled any requests for equitable adjustment, contract claims or litigation in the past five (5) years that is related to the services yourfirm provides in the regular course of business? No _ (Y/N) Note: If yes, the explanation must state the nature of the request for equitable adjustment, contract claim or litigation, a brief description of the case, the outcome or status of suit and the monetary amounts or extended contract time involved. I hereby certify that all statements made are true and agree and understand that any misstatement or misrepresentation or falsification of facts shall be cause for forfeiture of rights for further consideration of the project identified. Public Resources Management Group, Inc. Firm Signature of Henry L. Thomas, Senior Vice President Printed or Typed Name and Title of Authorized Representative 21 RFP 16/17-05 Financial Consulting Services The undersigned, in accordance with Florida Statute 287.O87hereby certifies that the company named below Publish a statement notifying employees that the unlawful manufacture, distribution. dispensing, possession, or use of controlled substance is prohibited inthe workplace and specifying the actions that will be taken against employees for violations of such prohibition. 2. Inform employees about the dangers of drug abuse in the workplace, the business's policy of maintaining mdrug-free workplace, any available drug counseling,rehabilitation, and Employee assistance programs, and the penalties that may be imposed upon employees for drug abuse violations. 8. Give each employee engaged in providing the commodities or contractual services that are proposed a copy of the statement specified in item 1. 4. In the statement specified in item 1, notify the employees that, as a condition of working on the commodities or contractual services that are under bid, the employee will abide by the terms of the statement and will notify the employer of any conviction of or plea of guilty or nolo contendere to, any violation of Chapter 893 or of any controlled substance law of the United States or any state, for a violation occurring in the workplace no later than five (5) days after such conviction. 5. Impose a sanction on, or require the satisfactory participation in a drug abuse assistance or rehabilitation program if such is available in the employee's community, by any employee who is so convicted. 0. Make a good faith effort to continue to maintain m drug-free workplace through implementation of this section. Public Resources Management Group, Inc. Henry L. Thomas, Senior Vice President Printed orTyped Name and Title ofAuthorized Representative 22 RFP za/z7*sFinancial Consulting Services LISTING OF SIMILAR PROJECTS COMPLETED BY PROPOSER DURING THE PAST THREE YEARS • Proposer is expected to make additional copies of this form if more pages are needed to account for two years NAME OF OFFEROR: DATE: PREPARED BY: Public Resources Management Inc. December 7, 2076 Henry L. Thomas NAME OF ENTITY FOR WHOM CONTACT PERSON, NAME DOLLAR MAGNITUDE TTITLE OF GRANT PROJECT COMPLETED AND PHONE NUMBER OF GRANT City of Apopka, FL Mr. Glenn Irby $52,039 2015 Water, Sewer and Reclaimed Water Rate Study and SRF Loan Application Charlotte County, FL Mr. Gordon Burger $22,000 2016 Utility Rate Study, Revenue Sufficiency and Rate Evaluation Citrus County, FL Mr. Ken Cheek $97,500 2015 Utility Revenue Sufficiency jj and Rate Consolidation Evaluation City of Edgewater Mr. John McKinney 60,800 2015 Water, Wastewater, Refuse and Stormwater Rate Study Fort Pierce Utilities Authority, Ms. Nina Penick, CPA $25,000 2016 Annual Update of Revenue FL Sufficiency Analysis for Electric, Water, Sewer, and Natural Gas Systems City of Inverness, FL Mr. Thomas Dick $22,000 2013 Utility Rate Revenue Sufficiency and Rate Evaluation City of Lakeland, FL Mr. Robert Connors $27,000 2016 Annual Utility Rate Revenue Sufficiency City of Miramar, FL Mr. Michael Moore $47,300 2014 Water and Sewer Rate Study City of Mount Dora, FL Mr. John Peters $24,800 2016 Water and Wastewater Rate tud City of North Port, FL Ms. Jennifer Desrosiers $32,880 2014 Water and Wastewater Rate Study City of Ocala, FL Mr. Sean Lanier $36,700 2014 Utility Rate Revenue Sufficiency and Rate Evaluation City of Ocoee, FL Mr. Charles Smith $24,500 2016 Utility Rate Revenue Sufficiency and Bond Feasibility tud City of Oldsmar, FL Mr. Bruce T. Haddock $34,500 2016 Water and Sewer Utility Rate Stud City of Panama City Beach, FL Mr. Albert E. Shortt, P.E. $34,500 2016 Utility Rate Revenue Sufficiency and Rate Evaluation Polk County, FL Ms. Marjorie Craig $37,233 2016 Water, Wastewater, and Reclaimed Water Business Plan Update 23 RFP 16/17-05 Financial Consulting Services NAME OF ENTITY FOR WHOM CONTACTPERSON, NAME DOLLAR MAGNITUDE TTITLE OF GRANT PROJECT COMPLETED AND PHONE NUMBER OF GRANT City of Stuart, FL Mr. Dave Peters $84,000 2013 Water, Sewer and Solid Waste Rate Revenue Sufficiency and Rate Evaluation City of Tampa, FL Mr. Michael Perry $98,958 2014 Utility Rate Revenue Sufficiency and Rate Evaluation; Water and Sewer Impact Fees City of Titusville, FL Mr. Sean Stauffer $16,000 2016 Water and Sewer Rate Review 24 RFP 16/17-05 Financial Consulting Services PUBLRES-01 MSiMMS 'A�,�..-' �- CERTIFICATE OF LIABILITY INSURANCE DAT25/2DlYYYY) 11/25/2416 THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER. IMPORTANT, If the certificate holder Is an ADDITIONAL INSURED, the policy(ies) must be endorsed. If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). PRODUCER Plastridge Insurance Agency 2100 N. Dixie Highwaiy Boca Raton, FL 33431 CONTACT NAME: PHONE FAX A1C No EK,:(561) 395-1433 A1C Ne; (561) 395.4755 E-MAIL ADDRESS: bocadocs@p[astridge.com INSURER(S)AFFORDING COVERAGE NAIC# _ INSURER A: Phoenix Insurance Company 26623 INSURED Public Resources Management Group, Inc. 341 N. Maitland Ave. #300 Maitland, FL 32761 INSURER B: St. Paul Fire & Marine Ins Co _ INSURER C: Travelers Casualty & Surety 19038 INSURER D:lronshore Specially Ins. Co, 25445 INSURER E INSURER F: t:UVtzKAUh5 CERTIFICATE NUMBER! RKVLCinkr Kit nUaCR. THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED, NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. iNSR LTR TYPE OF INSURANCES WVD _._ POLICY NUMBER MMIDD/YYYYY MM D Y ._�.. LIMITS A X COMMERCIAL GENERAL LIABILITY CLAIMS -MADE X OCCUR Agg Per Project ._ X i 680678M8666PHX16 0110512016 01/06/2017 EACH OCCURRENCE1,000,000 PREMISES am nee S 300,4 MED EXP (Any one person) i $ 5,00 PERSONAL&ADV INJURY S 1,000,04 AGGREGATE LIMIT APPLIES PER: POLICY i -- i JECOT, F. LOCi GENERAL AGGREGATE $2,040,000 GEN'I. PRODUCTS -COMP/OPAGO $ _ 2,000,000 S OTHER: A AUTOMOBILE LIABILITY ANY ATO ALL ED I ULED ATOS AUTOS 80678M8666PHX16 01/0512016 0110512017 COM84NED SINGLE LIMIT 1,4�0 BODILY INJURY (Per person) •0`,40(Eaaccident) — BODILY INJURY (Per accident) NON -OWNED HIRED ATOS AUTOS $X' $ i 1 B X ; UMBRELLA UAB X OCCUR EXCESSLIAB CLAIMS -MADE _ UP -41M47266 -16 -NF 01/05/2016 01/0512017 EACH OCCURRENCE $ 1,044,4 -00 AGGREGATE 1,000,000 DED] X RETENTIONS 10,000WORKERS S C COMPENSATION AND EMPLOYER LIABILITY ANY PROPRIETORIPARTNEEXECTivE YIN R: OFFICERIMEMBER EXCLUDED? (Mandatory In NH) Vfyyeess describe under DESCRIPTION OF OPERATIONS below N t A XAUB4030TO4616 02101/2016 02/01/2017 ' X STATI?'fE X ER E.L. EACH ACCIDENT S 1,000,04 .,._..v.—_._.. ., E.L. DISEASE - EA EMPLOYE $ 1,000,04 ---- E.L. DISEASE - POLICY LIMIT S 1,004,004 D 'P rof.Liab.ClaimsMade 00109305 01/2512016 01125/2017 Ea.Wrongful ActiAgg 2,000,0 00 D Retro Date 1/111994 000109305 01/26/2016 01/2512017 Retention 5,000 DESCRIPTION OF OPERATIONS t LOCATIONS I VEHICLES (ACORD 101, Additional Remarks Schedule, may be attached if more space is required) City of Sanford is Additional Insured with respect to GL for work performed by Public Resources Management ATIMA. City of Sanford 300 N. Park Avenue Sanford, FL 32771 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION DATE THEREOF, NOTICE VWLL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS, AUTHORIZED, REPRESENTATIVE ©1988-2014 ACORD CORPORATION. All rights reserved. ACORD 26 (2014101) The ACORD name and logo are registered marks of ACORD PublicResources Management Group, Inco Utility, Rate, financial and Managemew COnsultants December 8, 2016 City of Sanford Purchasing Division 300 N. Park Ave. Room 236 Sanford -.FL 32771 Subject: RFP 16/17-05 — Consulting Services Related to Financial Forecast, Rate Determination, Utility Revenue Bonds or Other Debt Issuance Dear Sir or Madam, In reviewing the requirements for the above -referenced RFP, it was noted on the insurance requirements form that insurance coverage shall include automobile liability insurance for "owned" automobiles. We currently do not have any company owned vehicles and, thus, do not maintain insurance coverage for owned automobiles. As shown on the Certificate of Liability Insurance in Section 6, we do maintain the required coverage for hired and non -owned autos. If we acquire company owned automobiles in the future, we certify to the City of Sanford that we will immediately adjust our insurance coverage accordingly and issue a new insurance certificate. Additionally, the insurance requirements for the RFP entail a thirty -day notice of cancellation of the policy. The policy provided by our insurance carrier only provides for a minimum ten-day notice as required by state law. Sincerely, Public Resources Management Group, Inc. Henry L. Thomas Senior Vice President 341 NORTH MAITLAND AVENUE — SUITE 300 — mAITLAND, FL 32751 TEL: 007) 628-2600 o FAX: (407) 623-2610 - EMAIL praig,' prnighic.coni e www.prnnginc.cozn State of Florida Department of State I certify from the records of this office that PUBLIC RESOURCES MANAGEMENT GROUP, INC. is a corporation organized under the laws of the State of Florida, filed on April 18, 1994. The document number of this corporation is P94000030336. I further certify that said corporation has paid all fees due this office through December 31, 2016, that its most recent annual report/uniform business report was filed on January 25, 2016, and that its status is active. I further certify that said corporation has not filed Articles of Dissolution. Given under my hand and the Great Seal of the State of Florida at Tallahassee, the Capital, this the Twenty fourth day ofAugust, 2016 ►ori f r ....� Ila Secretaty of State Tracking Number: CU5773083022 To authenticate this certificate,visit the following site,enter this number, and then follow the instructions displayed. https:llservices.su n biz.orgIFilings/Ce rtificateOfStatusICertificateAuth entication 2016 FLORIDA PROFIT CORPORATION ANNUAL REPORT DOCUMENT# P94000030336 Entity Name: PUBLIC RESOURCES MANAGEMENT GROUP, INC. Current Principal Place of Business: 341 N. MAITLAND AVE. SUITE 300 MAITLAND, FL 32751 Current Mailing Address: 341 N. MAITLAND AVE. SUITE 300 MAITLAND, FL 32751 US FEI Number: 59-3235769 Name and Address of Current Registered Agent: ORI, ROBERT J 341 N. MAITLAND AVE. SUITE 300 MAITLAND, FL 32751 US FILED Jan 25, 2016 Secretary of State CC8164283916 Certificate of Status Desired: No The above named entity submits this statement for the purpose of changing its registered office or registered agent, or both, in the State of Florida. SIGNATURE: Date Electronic Signature of Registered Agent Officer/Director Detail Title PTD Name ORI, ROBERT J Address 341 MAITLAND AVE, SUITE 300 City -State -Zip: MAITLAND FL 32751 Title VSD Name THOMAS, HENRY L Address 341 N. MAITLAND AVE. SUITE 300 City -State -Zip: MAITLAND FL 32751 I hereby certify that the information indicated on this report or supplemental report is true and accurate and that my electronic signature shall have the same legal effect as if made under oath; that I am an officer or director of the corporation or the receiver or trustee empowered to execute this report as required by Chapter 607, Florida Statutes; and that my name appears above, or on an attachment with all other like empowered. SIGNATURE: ROBERT J. ORI PRESIDENT 01/25/2016 Electronic Signature of Signing Officer/Director Detail Date A-19