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Consent-General Government # 16.
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| Board of Supervisors |
Financial Services |
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| Subject |
| Approve contract with PFM Asset Management LLC for Investment Advisory Services to the County in fiscal year 2013-14 for a cost not to exceed $130,000. (No general fund impact) (Newens) |
| Recommended Action |
| Approve contract with PFM Asset Management LLC for Investment Advisory Services and authorize the Chair and County Counsel to execute any and all documents and process through the Auditor-Controller. |
| Strategic Plan Goal(s) |
| Provide fiscally sound, dynamic and responsive services |
| Reason for Recommended Action/Background |
| The Auditor-Controller and County Counsel were authorized, by Board action on May 7, 2013, to negotiate a contract with PFM Asset Management LLC to provide Investment Advisory Services to the County in fiscal year 2013-14 for a cost not to exceed $130,000. The results of that effort yielded the attached contract for the 2013-14 fiscal year. The contract as presented includes the authorization for the Auditor-Controller to extend the term on an annual basis for two additional fiscal years. |
| Other Agency Involvement |
| County Counsel has been involved in the negotiation and review of the attached contract. |
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| Fiscal Impact |
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| Source of Funds for this Expenditure |
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Explanation (Expenditure and/or Revenue) |
| Further explanation as needed: |
| The cost of $130,000 is fully recovered from the investment earnings. |
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