Explanation
BACKGROUND:
On June 15, 2018 a request for statement of qualifications (RFSQ) RFQ009481 was issued on behalf of the City Treasurer’s Office for investment advisory services. The City’s objectives in retaining an investment advisor are to improve its investment capabilities and operational efficiency by maximizing incremental income and obtaining operational information flow on its portfolio. RFQ009481 was advertised and statements of qualifications were opened on July 10, 2018. Fifteen (15) responses were received. An evaluation committee consisting of one representative each from the Department of Finance and Management, the City Auditor’s Office and the City Treasurer’s Office met on July 20, 2018 and submitted preliminary scores. On July 20 three firms (FTN Financial Main Street Advisors, Meeder Public Funds and PFM Asset Management) were selected by the RFP Committee to provide technical proposals including cost structures, and in-person presentations. The RFP was distributed on July 27 and proposals were due on August 17, 2018. The finalists presented in person during three presentations August 23 and 24, 2018. The committee met and submitted their scoring for the technical proposals on August 28, 2018.
After viewing presentations and evaluating the technical proposals, in compliance with Columbus City Code 329.27, the committee recommended that the Treasury Investment Board authorize the City Treasurer to enter into negotiations with Meeder Public Funds, subject to successful resolution of the discussion items brought forth by the committee.
The contract with Meeder Public Funds is for the period of October 15, 2018 through March 31, 2021 with three one-year options for renewal subject to annual appropriations and approval of contracts by the Columbus City Council.
The City Treasurer’s Office renewed its contract with Meeder Public Funds to exercise its final option to extend its contract term from April 1, 2023 through March 31, 2024 w...
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