DATE: September 24, 2019
TO: Mayor and City Council
FROM: Director of Finance
SUBJECT
Title
Adopt a Resolution Authorizing the City Manager to Execute a Professional Services Agreement Extension for Investment Portfolio Management Services with PFM Asset Management LLC
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RECOMMENDATION
Recommendation
That Council adopts a resolution (Attachment II) authorizing the City Manager to execute a contract amendment with PFM Asset Management LLC for investment portfolio management services in an annual amount not to exceed $95,000 per year, for a period through March 31, 2020.
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SUMMARY
This action will bring the total term of contract services from PFM Asset Management LLC to eight years. The limited contract extension will allow staff the time necessary to complete the already issued request for proposals (RFP) for investment advisory services.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution