DATE: June 26, 2018
TO: Mayor and City Council
FROM: Director of Finance
SUBJECT
Title
Authorization to Execute a Professional Services Agreement for Investment Portfolio Management Services with PFM Asset Management LLC
End
RECOMMENDATION
Recommendation
That Council adopts the attached resolution (Attachment II) authorizing the City Manager to execute a one-year contract with PFM Asset Management LLC for investment portfolio management services in an annual amount not to exceed $95,000 per year, for a period of one-year to April 30, 2019.
End
SUMMARY
This will bring the total term of services from PFM Asset Management LLC to seven years and will allow appropriate time for staff to issue a request for proposals (RFP) for investment advisory services during FY 2019.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution