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File Number: 25-286 <br />the current consulting services agreement with Chandler Asset Management. The City received <br />three (3) responses by the RFP submission deadline. <br />After a thorough review, staff recommends that the City engage with PFM Asset Management for <br />investment management services. <br />While the Director of Finance is responsible for directing the City’s portfolio, PFM Asset <br />Management assists in the investment management and diversification of the City’s portfolio, <br />bringing in the professional expertise needed to keep the City’s investment portfolio within <br />Council investment policies while maximize performance with the principles of maintaining safety <br />and necessary liquidity to meet the City’s daily cash flow needs. <br />FISCAL IMPACT <br />The cost of services is based on the amount of funds being actively managed. PFM Asset <br />Management charges six basis points (0.06%) per year on the first $100 million of assets under <br />management, and five basis points (0.05%) per year on assets over $100 million. Based on this <br />cost structure, the annual cost will be approximately $110,000. An allocation is included in the <br />Finance Department General Fund budget for FYs 2025-2026 and 2026-2027. <br />BUDGET AUTHORITY <br /> <br />The FY 2025-2026 proposed budget includes sufficient funding to cover the costs associated <br />with the investment management services agreement. <br /> <br />ATTACHMENTS <br />·Attachment A: Resolution Authorizing the City Manage to Execute an Agreement with <br />PFM Asset Management for Investment Management Services <br />·Attachment B: CSA between the City of San Leandro and PFM Asset Management <br />Exhibit A - Scope of Services & Exhibit B - Fee Schedule <br /> <br />PREPARED BY <br /> <br />Nicole Gonzales, Finance Director <br />Page 2 City of San Leandro Printed on 9/4/2025