HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
14-00987
FILE ID:
Date: 10/07/2014
Requesting Department: Finance
Commission Meeting Date: 10/23/2014 District Impacted: N/A
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance n Discussion Item
Other
Subject: Piggyback — Investment Advisory and Management Services — City of Patin Beach Gardens,
Florida RFP Contract No. RFP2014-013FN.
Purpose of Item:
Law Department
Matter ID No.
9�1 . 61/
This is a resolution of the Miami City Commission, with attachment(s), authorizing the City Manager
to execute a professional services agreement, in substantially the attached form, in accordance with
Section 18-111 of the Code of the City of Miami ("City"), as amended, for the procurement of
investment advisory and management services from PFM Asset Management LLC ("PFM"), utilizing
the competitively solicited and existing City of Palm Beach Gardens, Florida ("Palm Beach Gardens")
Request for Proposals ("RFP") Contract No. RFP2014-013FN ("Contract") effective March 6, 2014
for an initial five (5) year period with one option to renew for an additional five (5) year period, at an
annual amount equal to the size of the City's portfolio in accordance with the attached contract fee
schedule, subject to any renewals, extensions and/or replacement contracts by Palm Beach Gardens,
to be utilized on an as -needed contractual basis, subject to the availability of funds and budgetary
approval at the time of need.
Background Information:
The City has RFP Contract No. 245238 with PFM for the provision of financial advisory services, but
it does not provide for the investment management services the City now requires. The City wants its
current financial advisor, PFM, to manage its investments as well. Per City Code Section 18-111 the
Chief Procurement Officer has determined that Palm Beach Gardens Contact with PFM for the
procurement of investment advisory and management services was entered into pursuant to a
competitive process in compliance with the City's Procurement Code. The adoption of this resolution
will provide the City the investment management services it requires from PFM on an as -needed
contractual basis, subject to the availability of funds and budgetary approval at the time of need.
Budget Impact Analysis I. 7 5/ OCYD
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No: Subject to availability of funds and budgetary approval
time of need.
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: N/A
N/A
N/A
CIP N/A
Final Approvals
(SIGN AND DATE
Bud
If using or receiving capital funds
Grants N/A Risk Management
Purchasing Dept. Director
Chief la� lY City Manager ci
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