Council to take action on City of Buckeye Contract No. 2025121 Investment Management Agreement between the City of Buckeye, a body politic and corporate of the State of Arizona, and U.S. Bancorp Asset

4.Q
CITY OF BUCKEYE
Regular Council Meeting
COUNCIL ACTION REPORT
MEETING DATE: 06/17/25
AGENDA ITEM: 4.Q. FIN - Contract
#2025121, Investment Management
Agreement, US Bancorp
DATE PREPARED: 06/16/25
DISTRICT NO.: All
STAFF LIAISON: William Kauppi, Chief Financial Officer,
wkauppi@buckeyeaz.gov, (623) 349-6161
DEPARTMENT: Financial Services
AGENDA ITEM TYPE: Consent Agenda
Items / New Business
ACTION/MOTION: (This language identifies the formal motion to be made by the Council) 
Council to take action on City of Buckeye Contract No. 2025121 Investment Management Agreement
between the City of Buckeye, a body politic and corporate of the State of Arizona, and U.S. Bancorp
Asset Management, Inc., a Delaware corporation, relating to investment account management services;
to ratify expenses already incurred for these services; and to authorize the City Manager to execute and
deliver said contract on behalf of the City of Buckeye.
SUMMARY
PROJECT DESCRIPTION:
Finance is requesting approval of Contract No. 2025121 Investment Management Agreement with US
Bancorp Asset Management, Inc. to provide for investment management services and assist in the
execution of the City's Investment Policy. The Agreement is for an indefinite period allowing for
termination pursuant to statute or ten days written notice by the City or contractor. The estimated annual
fees collected by the contractor for these services are $84,159.00. The City originally entered into an
Investment Management agreement with Davidson Fixed Income Management, Inc., which was
subsequently assigned to PFM Asset Management LLC. PFM now operates as a division of US
Bancorp. The City ratified the Original Agreement for the period beginning October 3, 2016 through the
date of execution and delivery and payment by the City for services. 
BENEFITS:
This Agreement will provide for expert analysis, advice, and efficient investment transactions for public
monies invested by the City. 
FUTURE ACTION:
Currently, no future action by Council is anticipated.
FINANCIAL IMPACT STATEMENT:
The City will pay U.S. Bancorp Asset Management in monthly installments derived from set rates and the
average investments under management for the billing period.
CURRENT FISCAL YEAR TOTAL COST:
Approximately $84,159.00
BUDGETED:
Yes
FISCAL YEAR:
Ongoing

FUND/DEPARTMENT:
Finance 10001110-523032
Items related to a project or facility location must include an attached vicinity map for Council
Review.
ATTACHMENTS: