Title
Requisition No. REQ-0002876
Investment Advisor
Vendor: PFM Asset Management, a division of U.S Bancorp Asset Management, Inc.
Status: New Contract/PO
Body
Agenda of: October 22, 2025
Item No.: 2025-301
Amount: 3-Year Initial Contract $1,275,000.00
First Year Renewal Option 425,000.00
Second Year Renewal Option 425,000.00
Total $2,125,000.00
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Suzanne R. Coffey, P.E.
Chief Executive Officer
Great Lakes Water Authority
DATE: October 22, 2025
RE: Requisition No. REQ-0002876
Investment Advisor
Vendor: PFM Asset Management, a division of U.S Bancorp Asset Management, Inc.
Status: New Contract/PO
MOTION
Upon recommendation of Nicolette Bateson, Chief Financial Officer/Treasurer, Financial Services, the Board of Directors (Board) of the Great Lakes Water Authority (GLWA), authorizes the Chief Executive Officer (CEO) to enter into Requisition No. REQ-0002876, "Investment Advisor" with PFM Asset Management, a division of U.S Bancorp Asset Management, Inc., at a cost not to exceed $1,275,000.00 for a duration of three (3) years with two (2) one (1) year renewal options at a cost of $425,000.00 for each renewal year for a total contract amount of $2,125,000.00; and authorizes the CEO to take such other action as may be necessary to accomplish the intent of this vote.
BACKGROUND
The Great Lakes Water Authority (GLWA) has worked with an investment advisor since the stand-up of the organization to assist in the management of its investment portfolio. The use of a registered investment advisor has proven to be a cost effective and efficient approach to portfolio management. The investment advisor allows GLWA to have direct access to financial market data sources, technology and expertise while allowing the treasury team to focus on the development of cash flows, treasury internal controls, and process improvements. Using an investment advisor has helped GLWA ...
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