e|agenda.NET Sarasota County Schools |
THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. 6:30 P.M. |
Agenda Item #35 Title APPROVAL OF AN INVESTMENT ADVISORY AGREEMENT BETWEEN PUBLIC FINANCIAL MANAGEMENT (PFM) AND THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Description This agreement will provide the District with professional managed investment services by PFM for its idle funds. In particular, the proceeds from the Qualified School Construction Bonds Series 2010A Certificates of Participation and the Series 2010B Certifications of Participation issues for the rebuilds of Booker and Venice High School. PFM will invest the proceeds to maximize the District's return until the funds are needed for construction. This agreement is a piggyback of the agreement currently in force between PFM and the School Board of Marion County, Florida. Recommendation That the investment advisory services agreement between Public Financial Management and the School Board of Sarasota County, Florida, be approved. Contact WHITE & CORCORAN Financial Impact Annual fee of 0.05% of managed assets account value paid monthly against the investment revenue. Attachment: Investment_Advisory_Agreement_School_Board_of_Sarasota.pdf |