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Legislation #: 200340 Introduction Date: 5/7/2020
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing Amendment No. 4 to a professional services agreement with Cochran, Head, Vick and Co., P.C, for $340,224.00 for professional third-party accounting and financial reporting services to the Tax Increment Financing Commission of Kansas City, Missouri, for a total contract amount of $1,738,309.00.

Legislation History
DateMinutesDescription
5/7/2020 Filed by the Clerk's office
5/7/2020 Referred to Finance, Governance and Public Safety Committee
5/13/2020 Advance and Do Pass, Debate
5/14/2020 Passed

View Attachments
FileTypeSizeDescription
200340.pdf Authenticated 56K Authenticated Ordinance
200340 CHV Contract (Fourth Amendment)_FY20-21.pdf Related Documents 119K CHV Contract (Fourth Amendment)_FY20-21
200340 Cochran, Head, Vick and Co Fiscal Note.pdf Fiscal Note 40K Fiscal Note
200340 Fact Sheet_Ord - Final.pdf Fact Sheet 152K Fact Sheet

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ORDINANCE NO. 200340

 

Authorizing Amendment No. 4 to a professional services agreement with Cochran, Head, Vick and Co., P.C, for $340,224.00 for professional third-party accounting and financial reporting services to the Tax Increment Financing Commission of Kansas City, Missouri, for a total contract amount of $1,738,309.00.

 

WHEREAS, City Council approved a 5-year contract with Cochran Head Vick Co. for the purposes of providing professional third-party accounting and financial reporting services to the Tax Increment Financing Commission of Kansas City, Missouri (the “Contract”) by Ordinance No. 160074; and

 

WHEREAS, Section 3 of Ordinance No. 160074 stated that the compensation due Cochran, Head, Vick and Co. in any given fiscal year for the Contract shall be determined on an annual basis, subject to the limitations of appropriations made by Council for such purposes; and

 

WHEREAS, an appropriation for the annual compensation for the Contract was included in the City’s annual budget for Fiscal Year 2020-21; and

 

WHEREAS, Amendment No. 4 is needed to memorialize between the parties the amount of the annual compensation for the Contract; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is hereby authorized to execute the professional services Amendment No. 4 with Cochran, Head, Vick and Co., P.C for professional third-party accounting and financial reporting services to the Tax Increment Financing Commission of Kansas City, Missouri in the amount of $340,224.00 for total contract amount of $1,738,309.00. A copy of the amendment is on file in the Finance Department.

 

Section 2. That the Director of Finance is hereby authorized to expend the sum of $340,224.00 from funds previously appropriated in the Adopted FY2020-21 Budget in the following account:

 

21-2215-121460-610120 Consultant Services $ 340,224.00

 

________________________________________

 


I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

_____________________________

Tammy L. Queen

Director of Finance

 

Approved as to form and legality:

 

 

______________________________

Katherine Chandler

Assistant City Attorney