COUNTY OF SAN MATEO

Inter-Departmental Correspondence

Health Services Agency

DATE:

June 2, 2003

BOARD MEETING DATE:

June 10, 2003

TO:

Honorable Board of Supervisors

FROM:

Margaret Taylor, Director of Health Services
Charlene A. Silva, Director of Aging and Adult Services

SUBJECT:

Agreement with The Brauner Company

 

Recommendation

Adopt a resolution authorizing

1.

The President of the Board of Supervisors to execute an Agreement with The Brauner Company; and

2.

The Director of Health Services to execute amendments and minor modifications, up to $25,000

 

Background

Aging and Adult Services (AAS) provides protective and supportive services, case management, and conservatorship services to functionally impaired adults and seniors. Supportive services provided by AAS include the Public Guardian/Conservatorship Program, which serves frail elderly, physically and/or mentally disabled residents who are substantially unable to provide for their own personal needs of health, food, clothing, or shelter and/or are unable to manage their financial resources or resist fraud or undue influence.

 

Conservatorships are primarily set up for adults who cannot handle their own finances, care for themselves, and/or have limitations caused by aging. For each type of conservatorship, the Public Guardian, acting under the authority and direction of the Superior Court, may be appointed for the person, for the estate, or for both. The general duties of a Conservator of the Person include arranging for the person's care and protection, deciding where the person will live, making arrangements for health care, meals, clothing, personal care, housekeeping, transportation, and recreation. The general duties of a Conservator of the Estate include managing the person's finances, marshalling and protecting the assets, collecting all income due to the person, paying all just debts, making investments as appropriate, and representing or arranging representation in all legal matters.

 

Discussion

Broker/Investment services provide a wide range of investment options, information on cost basis of assets for income tax purposes, reports for the court and for monitoring purposes, and consultation on selected cases as part of the Estate Plan process. The Brauner Company participated in and was selected through a Request for Proposals process completed in July 2001 for Broker/Investment services ending June 30, 2003 with an option to extend through June 30, 2004.

 

In consideration of the services provided as described above and according to local court-established commissions for sales, The Brauner Company will be paid directly from the clients' portfolios one percent (1%) of the value of assets under management. The average monthly asset amount under management is $11.1 million.

 

County Counsel has reviewed and approved this agreement as to form and content.

 

Vision Alignment

An agreement with The Brauner Company keeps the commitment of ensuring basic health and safety for all and goal number 8: People - Help vulnerable people - the aged, disabled, mentally ill, at-risk youth and others - achieve a better quality of life. Services provided by The Brauner Company will contribute to this commitment and goal by assisting conservators to optimize management of Public Guardian clients' assets.

 

Fiscal Impact

The term of the agreement with The Brauner Company is July 1, 2003 to June 30, 2004. The amount of the agreement is $125,000. Funds for this agreement are reimbursed directly from clients' personal assets. There is no impact on the County General Fund.