Item Coversheet

CITY OF RIVIERA BEACH CITY COUNCIL
AGENDA ITEM SUMMARY

Meeting Date: 11/30/2016 
Agenda Category:REGULAR
Subject: Amendment to extend the Public Trust Advisors, LLC contract to provide Investment Investment Manager Services.
Recommendation/Motion: Approve the one-year extension for Public Trust Advisors, LLC from December 1, 2016 to November 30, 2017.
Originating Dept Finance  Costs  
User Dept.Fiance Funding Source
AdvertisedNo Budget Account Number

001-0308-513-0-3106 Pooled Cash Investment

311-0304-513-0-3106 Bond Proceeds

 

Date   
Paper   
Affected PartiesNot Required   
Background/Summary: 
The City's Investment Policy requires the City to engage the services of an Investment Manager. Through a competitive selection process, the City entered into a one year Agreement with Public Trust Advisors, LLC on December 1, 2014 to provide investment management. The Agreement provides for  two one-year renewal options at the City's discretion. On January 20, 2015 the City Council approved the first one year renewal from February 1, 2016 to November 30, 2016. 
Fiscal Years2017
Capital Expenditures
Operating Costs
External Revenues
Program Income (city)
In-kind Match (city) 
Net Fiscal Impact
NO. Additional FTE Positions
(cumulative)

III. Review Comments

A. Finance Department Comments:
 
B. Purchasing/Intergovernmental Relations/Grants Comments:
 
C. Department Director Review:
Contract Start Date12/01/14 
Contract End Date11/30/15
Renewal Start Date02/01/16
Renewal End Date11/30/16
Number of 12 month terms this renewal1 year
Dollar Amount26,000.00
Contractor Company NamePublic Trust Advisors
Contractor ContactJohn Grady
Contractor Address4767 New Board Street, Orlando, FL 32814
Contractor Phone Number407-588-0525
Contractor EmailJohn.Grady@publictrustadvisors.com
Type of ContractProfessional services
Describe
ATTACHMENTS:
File NameDescriptionUpload DateType
Resolution-PTA_extension_FY17.pdfPTA-Resolution to extend contract10/28/2016Resolution
Contract_Amendment_-_Riviera_Beach_-_Public_Trust.pdfPTA- Extension to Contract10/28/2016Agreement
PTA-Signed_Resolution.pdfPTA- Approved Res for 1st one year renewal10/20/2016Resolution
PTA-Contract.pdfPTA- Original Contract10/20/2016Agreement
REVIEWERS:
DepartmentReviewerActionDate
Financesherman, randyApproved11/7/2016 - 9:31 AM
Financesherman, randyApproved11/7/2016 - 9:31 AM
AttorneyAnswererApproved11/7/2016 - 11:42 AM
City ClerkAnswererApproved11/7/2016 - 1:32 PM
City ManagerAnswererApproved11/22/2016 - 3:50 PM