Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Authorizing The Appropriate City Officials To Execute An Agreement With Public Trust Advisors, LLC To Provide Investment Management Services In An Estimated Total Amount Of $450,000.00 Over A Three Year Period; Amending the Fiscal Year 2021 Operating Budget.
Strategic Plan Focus
Financial Management & Administration
Body
Staff Recommends: Approval of the Attached Resolution.
Explanation:
The Financial Services Department desires to contract with an investment management firm to manage the City's investment portfolio as well as provide recommendations for the City's current investment policy to maximize yield while ensuring preservation of capital and liquidity for the fiscal years ending September 30, 2021 through 2023.
On November 9, 2020, Request for Qualifications Number 4659-21-PB Investment Management Services ("RFQ") was electronically advertised via BidSync in accordance with the City Code of Ordinances Section 38.43(A) and closed on December 14, 2020.
The RFQ resulted in proposals from the following three (3) firms:
Chandler Asset Management
Public Trust Advisors, LLC
PFM Asset Management, LLC
A Selection Committee comprised of the Director of the Department of Financial Services, the Assistant Director/City Treasurer of the Department of Financial Services, and the Fiscal Affairs Special Projects Manager of the Office of the City Manager met on January 25, 2021 to evaluate and rank the proposals.
Evaluation of the proposals was based upon the criterial as established in the RFQ: Qualifications and Experience of the Firm, Qualifications and Experience of Key Personnel, Investment Management Approach and Discipline, Accounting and Reporting Fees.
Based on the evaluation criteria, the Selection Committee evaluated the three proposals and the scores were compiled to arrive at the following rankings, with the lowest score being the highest ranked:
1. Pub...
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