File #: CONS 20-465   
Section: Consent Status: Agenda Ready
Meeting Body: City Council
Agenda Date: 9/29/2020 Final action:
Subject: Adopt a Resolution Authorizing the City Manager to Execute a Professional Services Agreement Extension for Investment Portfolio Management Services with PFM Asset Management LLC in an Amount Not-to-Exceed $95,000 Per Year
Attachments: 1. Attachment I Staff Report, 2. Attachment II Resolution

DATE:                     September 29, 2020

 

TO:                     Mayor and City Council

 

FROM:                     Director of Finance

 

SUBJECT

 

Adopt a Resolution Authorizing the City Manager to Execute a Professional Services Agreement Extension for Investment Portfolio Management Services with PFM Asset Management LLC in an Amount Not-to-Exceed $95,000 Per Year

 

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 June 30, 2021.

 

SUMMARY

 

This action will contract services from PFM Asset Management LLC to provide professional investment portfolio management services based on the RFP completed in FY 2012 and will engage PFM for the said services for the entirety of FY 2021.

 

ATTACHMENTS

Attachment I                                          Staff Report

Attachment II                                          Resolution