Specifications include, but are not limited to: 1. Investments and Deposits The offeror shall provide advice to the BOF and the County Treasurer with respect to the County’s investment and deposit options, strategies and the administration of investment of bond proceeds, and all idle and active funds. The County operating budget for the general fund and total budget for FY24 is attached. In particular, the offeror shall: a. Actively manage County’s investments as per the County’s investment policy (attached) and work directly with the Curry County Treasurer; b. Regularly monitor, analyze and project cash flow needs to anticipate fund expenditure requirements and maximize the safety, liquidity and return on funds available for investment; c. Routinely monitor and provide assistance in developing and implementing investment strategies that will maintain or enhance portfolio quality and performance within the parameters of the County Investment Policy; d. Arrange for and monitor safekeeping of securities. All securities owned by the County shall be held in safekeeping by a third party, acting as an agent for the County under the terms of a custody agreement or professional services agreement; e. Possess in-house capability or use external resources to evaluate the performance of money managers throughout the United States; f. Provide other financial services as required; g. Be compensated on a fee basis negotiated between the County Manager, the BOF and the Treasurer. 2. Review and Reporting a. Within forty-five (45) days of entering into a contract, the offeror shall conduct and complete an independent review and analysis of county investments, investment strategies employed and suggest changes to the investment strategy (if any) to include any recommended changes to the County’s investment policy. Upon completion of such review and analysis, offeror will discuss with the County Treasurer and develop a report that will provide guidance and advise to the BOF and Manager. b. On a monthly basis, perform an independent review of statements received from the Treasurer’s office on investment activities, earnings and the value of the investment portfolio and recommend investment opportunities in accordance to the County Investment Policy. Submit a monthly report to the Manager, County Treasurer and County Finance Director on the results. c. On a quarterly basis submit a report to the BOF on current County investment and deposit portfolio, performance and provide advice on developing an investment approach that is consistent with the County’s approved investment policy. Such meetings shall address, at a minimum: i. The allocation of investments within the portfolio, earnings performance, costs and fees, management strategy, and specific recommendation for ongoing management of the portfolio. ii. Presentations may include the portfolio managers’ views on developments within the national/local economies, the securities markets and the potential effects of these developments on investment strategy, portfolio maturities, potential amendments to the Investment Policy and other fiscal matters. d. Provide the Treasurer with, at a minimum, quarterly investment reports in a format specified by the Treasurer and submitted within ten (10) days following the end of the previous month. Said reports shall include all investment accounts with details including: i. showing total amount invested; ii. cost basis and market value of each security; iii. amount invested in each type of security; iv. par/maturity value and schedule of the portfolio; v. trade and acquisition dates; vi. security descriptions; vii. yield and cash flow analysis of the portfolio; viii. the time weighted return for each reporting period, the Weighted Average Maturity (WAM) of duration where applicable, and other items as determined by the Treasurer.
