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City of San Leandro <br />Meeting Date: October 3, 2016 <br />Staff Report <br />Agenda Section:File Number:16-480 CONSENT CALENDAR <br />Agenda Number:8.E. <br />TO:City Council <br />FROM:Chris ZapataCity Manager <br />BY:David Baum <br />Finance Director <br />FINANCE REVIEW:Not Applicable <br />TITLE:Staff Report for Resolution Approving the Agreement between the City of San <br />Leandro and Chandler Asset Management for Investment Services effective <br />July 1, 2016 <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council review and approve the agreement between the City <br />of San Leandro and Chandler Asset Management for investment services effective July 1, <br />2016. <br />BACKGROUND <br />On April 12, 2004, City Council approved a consulting services agreement with Chandler <br />Asset Management for investment services of City funds. Chandler was selected based on <br />their ability to assist the City in establishing an investment management program, appropriate <br />duration of investment needs of the City and the investment philosophy aligned with the City’s <br />conservative approach of Safety, Liquidity and Yield. <br />Originally, Council approved initial investments of $40 million with an estimated annual cost to <br />the City of $40,000 for services provided by Chandler. <br /> <br />Analysis <br />Over the last eleven years, Chandler Asset Management has provided the following services <br />to the City of San Leandro: <br />·Monthly consultation with City staff regarding the City’s cash flow needs, investment <br />opportunities and market conditions <br />·Trade execution, trade confirmation and trade settlement with City’s safekeeping bank <br />·Annual review of the City’s investment policy ensuring all regulatory updates are <br />included <br />Page 1 City of San Leandro Printed on 9/27/2016