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P.H. 2026-10: (PUBLIC HEARING 1ST READING)
AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A SERVICE CONTRACT BETWEEN THE CITY OF POMPANO BEACH AND PFM ASSET MANAGEMENT, LLC, TO PROVIDE INVESTMENT ADVISORY AND MANAGEMENT SERVICES; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
(Fiscal Impact: Not to exceed $140,000.00 or 3.5 bps of City’s investment portfolio’s size)
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(Staff Contact: Allison Feurtado)
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Summary Explanation/Background:
A Request for Proposal (RFP No. 25-045) was issued to solicit qualified firms to provide investment advisory and management services for the City. In accordance with Section 7 of the RFP, “the Evaluation Committee will recommend one submitting firm to the City Commission for award and execution of a Service Agreement.
The City received six proposals, all of which met the submission requirements and were deemed responsive and responsible. Following a comprehensive evaluation process, PFM Asset Management, a division of U.S. Bancorp Asset Management, Inc., received the highest overall ranking based on the established criteria.
City staff therefore recommends, that the City Commission approve the award of the contract to PFM Asset Management to provide professional investment advisory and management services to the City.
Origin of request for this action: Finance
Fiscal impact and source of funding: Not to exceed $140,000 or 3.5 bps.( various funds)
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