City Council

7. AUTHORIZE RFP: INVESTMENT MANAGEMENT AND ADVISORY SERVICES –\nF2M24-58, RFP2M24-20\nThe City is seeking proposals from qualified firms to provide investment services in a\ncomprehensive manner to handle the day-to-day administration of the City’s investment\nportfolio and provide discretionary investment advisory services. Staff is currently\noverseeing the management of the City’s investment portfolio and is proposing the\nengagement of a consultant to enhance the efficiency and expertise applied to this\nresponsibility. The consultant would aim to reduce the burden on staff by providing\nspecialized investment management services to optimize the City’s investment returns\nRecommended Action: City Council authorize the distribution of a Request for\nProposals to select a qualified consultant to provide investment management, investment\nadvisory, and related services for the City’s investment portfolio with proposals due no\nlater than 11:00 a.m. on October 10, 2024; and, direct staff to undertake the steps\nnecessary to finalize Council’s action.