Title
Consider recommendation from the Finance/Administrative Committee to approve a contract with Valley View Consulting, L.L.C., for investment advisory services, in an amount not to exceed $50,000.
Body
RECOMMENDED MOTION:
Move the board adopt Resolution and Order No. __ of the Edwards Aquifer Authority Board of Directors approving the renewal of Contract No. 22-015-AFS between the EAA and Valley View Consulting, L.L.C., to serve as the EAA investment advisor, in an amount not to exceed $50,000, for the period July 1, 2026 through June 30, 2028.
SUMMARY:
The purpose of this agenda item is for the board to consider a Finance/Administrative Committee recommendation to approve the renewal of a contract with Valley View Consulting, L.L.C. (Valley View) to serve as the EAA investment advisor. According to Article X of the EAA Bylaws (the Investment Policy and Investment Strategy Statement), “it is the policy of the Edwards Aquifer Authority’s Board that all available funds are to be invested to the maximum extent possible at the highest possible rates obtainable at the time of investment….” The Investment Policy also states that investment yield follows preservation and safety of the principal, liquidity, and investment diversification in the priority order of investment objectives. To identify additional investment opportunities and further diversify EAA investments consistent with the Investment Policy, staff recommends continuing to engage an independent consultant to serve as the EAA investment advisor.
In 2022, EAA staff solicited for the required services consistent with the standard EAA procurement process for services contracted for between $3,000 and $50,000, per year. Valley View provided the most favorable rate for investment advisory services and has been providing investment advising and portfolio management services to the EAA since 2010. Therefore, staff recommended award of the contract to Valley View with an option to renew the contract...
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