Title
RFP No. I247-2025 - Investment Advisory Services & Primary Depository Banking Consultation.
(Authorize the City Manager to finalize and execute a contract with HilltopSecurities Asset Management, LLC, in an amount not to exceed $80,000.00. The term of this contract is for a one year period, with four additional one-year renewal options. The City Manager is authorized to exercise the renewal options, subject to annual appropriation of sufficient funds.)
Body
Name of Department
Finance
Project/Budgeted Amount
$75,000.00
Sum of Bid/Bid Amount
$80,000.00
Under the Public Funds Investment Act, Chapter 2256, Texas Government Code (PFIA), the City Council has ultimate fiduciary responsibility for the investment and management of public funds under its control, and in accordance with the City's adopted investment policy, may engage the services of an investment advisory firm to assist with managing the City's investment portfolio and the procurement of depository banking services, which is required to be bid every five years. Services provided include:
? Cash flow and investment maturity analysis; managing liquidity with cash flow fluctuations and portfolio strategies
? Monthly, quarterly and annual reporting on all governmental funds
? Evaluation of market risks and development of strategies that minimize impact on the portfolio; qualitative and quantitative approach to investment strategy decisions
? Maintain portfolio compliance with applicable policies and laws
? Evaluate and recommend portfolio benchmarks to guide investment decisions
? Annual review of investment policy to ensure compliance with PFIA
? Initial and ongoing review of City's current investment strategies to ensure portfolio matches the City's overall objectives
? Recommend and assist with all investment trade settlements
? Assist in the process of evaluating custodial and other banking services and servicing the portfolio's ongoing security safekeeping needs
The fourth and final renewal p...
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