Title
Approving a resolution authorizing the City Manager to execute an agreement with Valley View Consulting for professional municipal investment advisory services and establishing an effective date
Summary
Investment advisory services allow for comprehensive advisement of the City’s funds in accordance with the City’s Investment Policy Delegation of Authority. Investment decisions are critical to the organization and require a high degree of expertise to manage investment risk and comply with laws and policy guidelines. The investment advisor will assist City staff by analyzing and evaluating cash flow needs, recommending allocation structures and developing/executing strategies to achieve optimal investment income while controlling portfolio risk. The advisor will also provide periodic reports to staff and City Council to demonstrate the financial effectiveness of their management and advice.
The City released a RFQ for investment advisory services. The RFQ process resulting in seven proposals received. Evaluation criteria ranked Valley View Consulting the highest among seven proposals received.
Susan Anderson with Valley View Consulting will provide a presentation of an overview of the value provided by investment advisory services.
Prior City Council Action
N/A
Deadline for City Council Action
September 14, 2021
Funding Expected: Revenue __ Expenditure _x_ N/A __
Budgeted Item: Yes x__ No __ N/A __
Amount: _Not to exceed $75K_______
1295 Form Required? Yes x__ No __
Legal Review Required: N/A __ Required _x_ Date Completed: _9/6/2021__________
Supporting documents attached:
Agreement, Resolution, presentation
Recommended Action
Staff recommends approval of Valley View Consulting as the City's Investment Advisor.