Hall County government has its first financial adviser, an Atlanta firm that has done work for several metro Atlanta governments and school systems.

The Hall Board of Commissioners voted Thursday night to hire Atlanta-based The PFM Group, which will work for the county on an hourly basis, with county staff given the leeway to negotiate a rate up to $250.

Also, PFM’s total fees can’t exceed $25,000 a year without the commission’s approval.

Finance Director Vickie Neikirk has said she foresees the firm helping in such matters as how to handle debt, capital projects, refinancing and cash-flow issues.

“Most of the larger counties have (financial advisers) and we felt Hall County had reached the point where it needed one,” she said.

Speaking of the firm’s current clients, PFM’s director, Dianne McNabb, told the commission that, “at the very least, we work with them on their debt management.

“When they get to the point where they are borrowing for some purpose, we help review the capital plan and determine the most favorable approach to that debt issue, whether it’s bonds or private placement with a bank.”

PFM “usually develops the alternatives, presents (them) and then we will have a recommendation as to what we think the best alternative is given the objectives that you give to us,” McNabb said.

“Our recommendations, naturally, have to be predicated on what you desire to accomplish, especially when it comes to any risks that you’re undertaking.”

After the meeting, Commissioner Ashley Bell also noted that Gainesville has hired the same firm.

“Everybody knows (PFM) is the best at what they do,” he said.

He said he believes a financial adviser is long overdue for the county.

“We have all the demographics of a suburban county and it takes a lot of infrastructure to make the county work,” Bell said, adding that infrastructure often means additional debt.

And a financial adviser can help the county “keep its bond rating top-notch,” Bell said.

Overall, by hiring the firm, Hall County is “coming out of the dark ages of financing,” he said, adding it would have been helpful to have PFM around when the county was deciding whether to back $200 million in tax-exempt bonds that the Northeast Georgia Health System is issuing for its new South Hall hospital.

At that time, hospital officials said the county’s backing enabled them to work toward getting a lower interest rate on construction loans.

Bell said that while he didn’t have a problem with what the hospital had to say, it would have been nice to have had a financial adviser to sign off on the arrangement.