PREPARED BY: ARTURO CASTILLO DATE OF MEETING: 07/07/2025
SUBJECT:
TITLE
CONSIDER ADOPTING RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN PABLO AUTHORIZING THE CITY MANAGER TO EXECUTE A PROFESSIONAL SERVICES AGREEMENT WITH SHUSTER ADVISORY GROUP, LLC, TO SERVE AS THE INVESTMENT ADVISOR FOR THE CITY'S CASH OPERATING RESERVE PORTFOLIO AS PERMITTED UNDER CALIFORNIA GOVERNMENT CODE SECTION 53601
CEQA: This proposed action is not a project as defined by CEQA.
Label
CITY MANAGER RECOMMENDATION
Recommendation
Adopt Resolution
BODY
COMPLIANCE STATEMENTS Continue Best Management Practices, Fiscal Excellence, and Fiscal Transparency is an adopted City Council Priority contained in the adopted Fiscal Year 2025-2027 City Council Priority Workplan, effective April 7, 2025.
RECOMMENDATION:
Staff recommends that the City Council adopt a resolution authorizing the City Manager to execute an agreement with Shuster Advisory Group, LLC as the Investment Advisor for the City's Cash Operating Reserve Portfolio as permitted under California Government Code 53601.
BACKGROUND
Shuster Advisory Group, LLC ("Shuster") is an independent SEC-Registered Investment Advisor with over $9 billion in assets under management. As a fiduciary, Shuster specializes in serving the unique investment needs of governmental agencies, special districts, and institutional clients, including more than 100 cities and public entities. Shuster provides comprehensive retirement plan consulting and fiduciary investment management services, including investment selection, monitoring, and oversight. In addition, Shuster offers expertise in managing Section 115 Trusts and operating cash assets, helping public agencies optimize liquidity, preserve capital, and enhance yields across reserve and long-term funds. The firm also serves private wealth clients through tailored portfolio management and planning services.
Mark Shuster, Founder and Managing Partner at Shuster, along with members of the Shuster...
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