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City of San Leandro <br />Meeting Date: April 6, 2020 <br />Staff Report <br />Agenda Section:File Number:20-107 CONSENT CALENDAR <br />Agenda Number:8.G. <br />TO:City Council <br />FROM:Jeff Kay <br />City Manager <br />BY:Liz Warmerdam <br />Interim Finance Director <br />Assistant City Manager <br />FINANCE REVIEW:Liz Warmerdam <br />Interim Finance Director <br />TITLE:Staff Report for a City of San Leandro City Council Resolution to Approve <br />Amendment No. 2 to the Term of the Agreement between the City of San <br />Leandro and Chandler Asset Management for Investment Services through June <br />30, 2021, to Add an Additional $40,000 per Fiscal Year for a total of $115,000 <br />per Fiscal Year, and to Approve Appropriation of $40,000 per Fiscal Year from <br />the General Fund Fund Balance <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends the City Council review and approve Amendment No. 2 to the Term of the <br />Agreement and amount of compensation between the City of San Leandro and Chandler Asset <br />Management for investment services through June 30, 2021. <br />Staff further recommends the City Council approve an additional appropriation of $40,000 per <br />fiscal year (2019-20 and 2020-21) from the General Fund fund balance. <br />BACKGROUND <br />On October 3, 2016, the City Council approved a consulting services agreement with Chandler <br />Asset Management for investment services of City funds through June 30, 2020. Chandler was <br />selected based on its ability to assist the City in developing an investment management program <br />that established appropriate durations of investments based on the City’s cash flow needs, and <br />that was aligned with the City’s conservative investment approach. <br /> <br />Analysis <br />Over the last three and one-half years, Chandler Asset Management has provided the following <br />services to the City: <br />Page 1 City of San Leandro Printed on 4/1/2020 <br />88