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File #: CONS 18-384   
Section: Consent Status: Agenda Ready
Meeting Body: City Council
Agenda Date: 6/26/2018 Final action:
Subject: Authorization to Execute a Professional Services Agreement for Investment Portfolio Management Services with PFM Asset Management LLC
Attachments: 1. Attachment I Staff Report, 2. Attachment II Resolution

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