TO: Board of Supervisors
FROM: Auditor-Controller Treasurer-Tax Collector
MEETING DATE: June 20, 2023
DEPARTMENT CONTACT:
Chamise Cubbison
PHONE:
707-234-6860
ITEM TYPE: Consent Agenda
TIME ALLOCATED FOR ITEM: N/A
AGENDA TITLE:
title
Approval of Agreement with Chandler Asset Management, Inc. to Provide Investment Advisory and Asset Management Services Related to the Treasury Pool, Effective July 1, 2023, Until Terminated by Either Party
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RECOMMENDED ACTION/MOTION:
recommendation
Approve Agreement with Chandler Asset Management, Inc. to provide investment advisory and asset management services related to the Treasury Pool, effective July 1, 2023, until terminated by either party; and authorize Chair to sign the same.
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PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
After a Request for Proposal was performed, the Board approved an agreement with Chandler Asset Management, Inc. on April 11, 2012, which was effective until April 30, 2018.
After a Request for Proposal was performed, the Board approved an agreement with Chandler Asset Management, Inc. on June 19, 2018, which is effective until June 30, 2023.
SUMMARY OF REQUEST:
The Treasurer-Tax Collector has worked with Chandler Asset Management, Inc. (Chandler) for over a decade, during which time, Chandler has assisted the County by providing suggested improvements the County's Investment Policy, the generation of reports and the creation of a structure of service which is critical to ensuring compliance with the Policy. The investment services provided are uniquely tailored to the needs of Mendocino County's Investment Pool.
Chandler is prepared to offer the County an improved fee structure with an agreement that has no specific termination date, but includes the option to terminate upon mutual agreement of both parties or 30 days' notice from the County. The fee structure is similar to that which was agreed to with the County of Lake, which also contains the open-ended agreemen...
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