Brief

The Mayor referred a City Administrative Officer report recommending that the City engage Meeder Public Funds, Inc. to provide investment advisory services. The Budget and Finance Committee approved the item on April 13, 2026, and the full City Council adopted it on April 22 by a vote of 12-0-3. The contract is now final.

Full summary

The Mayor initiated this file by submitting a City Administrative Officer report recommending that the City's Office of Finance enter into a new contract with Meeder Public Funds, Inc. for investment advisory services. Under the approved terms, the contract runs for five years with one five-year option to extend, for a potential total of ten years. Total compensation is capped at $1,200,000, with $120,000 budgeted for the first year through the Office of Finance's existing Contractual Services Account under the Financial Advisor line item. Subsequent years are subject to annual budget approval by the Mayor and Council, and the CAO found no additional impact to the General Fund. Meeder Public Funds, Inc. will provide the City with strategic and tactical investment advice to strengthen its investment program, comprehensive reporting, customized benchmarking for operating funds of public portfolios, and revisions to investment policy guidelines. Before the contract can be executed, the Office of Finance is required to obtain current insurance documentation from Meeder, including a Certificate of Insurance meeting the City's Risk Management standards. The contract is also subject to review and approval by the City Attorney as to form. The CAO report was referred to the Budget and Finance Committee on March 26, 2026. At a special meeting on April 13, the committee voted 4-0 (with Hernandez absent) to recommend approval. The full Council adopted the item on April 22, 2026, by a vote of 12-0-3, subject to reconsideration under Council Rule 51. Final action was recorded on May 5, 2026, after the reconsideration period elapsed without objection. The file is now closed.

Activity (7)

• 2026-05-05 Council action final.
• 2026-04-22 Council adopted item, subject to reconsideration, pursuant to Council Rule 51.
• 2026-04-17 City Clerk scheduled item for Council on April 22, 2026.
• 2026-04-13 Budget and Finance Committee approved item(s) .
• 2026-04-10 Budget and Finance Committee scheduled item for committee meeting on April 13, 2026.
• 2026-03-26 City Administrative Officer document(s) referred to Budget and Finance Committee.
• 2026-03-26 Document submitted by the Mayor, City Administrative Officer report dated March 18, 2026.

Documents (4)

• 2026-05-05 Council Action · council_action
• 2026-04-13 Report from Budget and Finance Committee · report
• 2026-04-13 Speaker Card(s) · speaker_card
• 2026-03-18 Report from City Administrative Officer · report