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ITEM: AUTHORIZATION TO UTILIZE A CITY OF DANIA BEACH CONTRACT AS A BASIS FOR PRICING TO PROVIDE INVESTMENT MANAGEMENT SERVICES
REQUEST: Authorization to utilize a City of Dania Beach contract with Public Trust Advisors, LLC. as a basis for pricing, to provide investment management services in the amount of approximately $66,000 annually.
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EXPLANATION: The Village currently utilizes a City of Cape Coral contract for investment management services with Public Trust Advisors, LLC. expiring on March 31, 2026.
Staff is seeking authorization to utilize similar investment management contract RFQ-22-008 with the City of Dania Beach. The initial term of this contract was three (3) years with an effective beginning date of June 10, 2022 and shall thereafter renew automatically for additional terms of one (1) year. The contract can be terminated by either party with 30 days written notice. The current term expires June 10, 2026 and is expected to auto renew again until June 10, 2027. In the event the contract is not renewed in June 2026, staff will present another option to Council.
The Village's investment portfolio is approximately $136 million. Public Trust Advisors, LLC has agreed to honor the City of Dania Beach's contract terms and fees to the Village.
A 2026 analysis (Exhibit A) determined the City of Dania Beach's fee structure offered an approximate savings of 2% from current annual contract.
Staff is requesting authorization to utilize a City of Dania Beach contract with Public Trust Advisors LLC. as a basis for pricing, to provide investment management services in the amount of approximately $66,000 annually.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: Funds are allocated in the FY 2026 OFMB Operating Budget.
WELLINGTON FUNDAMENTAL: Protecting our Investment
RECOMMENDATION: Authorization to utilize a City of Dania Beach contr...
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