Butler City Council is hiring a financial advisor to do an analysis of proposals received to manage the money from the anticipated sale of Butler Area Sewer Authority assets.
At their Thursday night meeting, Council approved a motion to retain the services of Certified Public Accountant Jason Ross of Relevate Business Advisors in the amount of $3,000 to assist selection of an investment manager.
Several banks and money managers made presentations to Council earlier this year and Council decided to seek financial expertise to help them make an informed decision. A written analysis by Ross of the proposals will be provided to Council and made public before the end of the year.
According to Mayor Bob Dandoy, Ross was recommended and ultimately chosen as a result of his experience:
“We’re farther along than what most municipalities and organizations that have done this before are because we’ve already got presentations and information,” Dandoy said. [Jason Ross] will sit down, he’ll synthesize it and he’ll make a report for us. That’ll make our job way easier in selecting our financial advisor for the BASA funds when they come in.”
“I’m really very pleased and excited for Jason to be working with us,” Dandoy added.
The BASA sale continues to be considered by the Pennsylvania Public Utility Commission and is not expected to be finalized anytime soon so there is no pressing deadline for the City to decide how the money will be managed or who will be involved with assisting in that process.
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