City Council

6. AMENDMENT TO EXISTING CONTRACT FOR INVESTMENT\nMANAGEMENT SERVICES - Consideration to amend the existing contract with PFM\nAsset Management LLC for investment management services to strategically invest the\nCity’s idle funds in a manner which provides maximum security with best investment\nreturn, while meeting the daily cash flow demands of the City and conforming to all\nstate/province and local statutes governing the investment of public funds.\nRECOMMENDED ACTION:\nCity Council:\n1. Authorize an expenditure authority increase to the existing contract with PFM Asset\nManagement LLC in the amount of $25,000, for a total contract amount not to exceed\n$185,000 for Fiscal Year 2022-23.\n2. Authorize the City Manager or designee to execute the contract and associated\ndocuments, subject to City Attorney approval.