Discuss, consider, and act upon authorization of contractual Chief Financial Officer Services and General Consulting Services with Zac Tax, a division of Eight Twenty Consulting LLC (dba ZacTax) and authorizing the Town Manager to execute the agreement in an amount not to exceed $110,000.
Town Manager recommends approval.
The Town currently has a vacancy in the Finance Director position. While recruitment for a permanent Finance Director will proceed, the Town Manager recommends securing interim executive-level financial leadership to ensure continuity in higher-level financial leadership to ensure continuity in financial oversight and long-term planning.
ZacTax has already been providing the Town with financial and strategic support under an existing engagement for consulting, and strategic advisory services. The firm has demonstrated strong familiarity with our financial processes and has contributed significantly to our ongoing finance initiatives.
A contract CFO arrangement provides the Town with a highly qualified financial executive during a period of transition providing:
1. High-level expertise with a low-cost structure
2. Immediate continuity and stability
3. Advanced planning and analytical capabilities
4. Complements existing staff - With an existing Assistant Finance Director in place to handle daily operations, a fractional CFO strengthens oversight without duplicating day-to-day duties.
Given this established working relationship, the Town Manager recommends authorizing an agreement with ZacTax for interim CFO-level services to be performed by Doug Martella, President of ZacTax Finance and general consulting services not to exceed $90,000.
The maximum expenditure for the agreement with ZacTax is $110,000.