County CFO says proposed PFM contract will refresh prior revenue study; contract capped at $100,000 and contingent on council approval

New Castle County’s Administrative Finance Committee considered Resolution R26-146 on July 14, a proposal to authorize execution of an agreement with PFM Group Consulting LLC for financial advisory services to refresh the county’s revenue study.

Chief Financial Officer Dave Del Grande told the committee that PFM prepared a similar study for the county in 2008–09 and that the county is seeking updated, data-driven recommendations to solidify the revenue base, reduce dependence on limited revenue sources and help position the county for economic growth. Del Grande said the contract would not exceed $100,000 and that the project is contingent on council approval; if the council did not approve the agreement, the project would not proceed.

Several council members said they still have copies of the previous PFM study and praised its past recommendations; Councilman Carter asked whether PFM could provide interim findings before the June 2027 final report so recommendations that require state action could be advanced sooner, and Del Grande responded that interim work could be arranged and the county would continue other revenue work in parallel.

Del Grande said the requested funds were included in the executive’s FY 26/27 nomination and that the contract would be structured to allow presentation of findings to council. The committee’s discussion focused on scope, timeline and the value of having a refreshed outside analysis to inform revenue diversification options.