Investment Management Services
| Location: | California |
|---|---|
| Posted: | Feb 14, 2026 |
| Due: | Mar 13, 2026 |
| Agency: | Cosumnes Community Services District |
| Type of Government: | State & Local |
| Category: |
|
| Solicitation No: | DA-26-051 |
| Publication URL: | To access bid details, please log in. |
| Bid Number: |
DA-26-051
|
| Bid Title: |
Investment Management Services
|
| Category: | Professional & Consulting Services |
| Status: | Open |
|
Attachment Preview
COSUMNES COMMUNITY SERVICES DISTRICT
REQUEST FOR PROPOSALS (RFP)
FOR
Investment Management Services
DA-26-051
Release Date: February 13, 2026
Proposal Deadline: March 13, 2026, 10 am PST
Proposals must be received via email at the email address below by deadline.
Cristyn Vure, Senior Management Analyst
Email: cristynvure@cosumnescsd.gov
Phone: 916-405-5302
PLEASE READ: Ukraine/Russia-Related Sanctions Compliance. Consultant/Contractor is aware of the
requirements of California Executive Order N-6-22 (“Ukraine/Russia-Related Sanctions), which obligates
consultants/contractors to comply with existing economic sanctions imposed by the U.S. government in response to
Russia’s actions in Ukraine, as well as any sanctions imposed under state law. The Services may be subject to
compliance monitoring by the District. It shall be the consultants/contractors sole responsibility to comply with all
applicable economic sanctions.
Cosumnes Community Services District
8820 Elk Grove Blvd.
Elk Grove, CA 95624
SECTION 1 – PURPOSE
Cosumnes Community Services District RFP
Investment Management Services DA-26-051
Cosumnes Community Services District (“District”) is seeking proposals from qualified,
experienced, and licensed firms to provide professional investment management services. The
purpose of this Request for Proposals (RFP) is to identify a firm that will assist the District in
managing public funds in a manner that prioritizes safety of principal, maintains adequate
liquidity to meet operational and capital needs, and achieves a reasonable rate of return
consistent with the District’s Investment of District Funds Policy and applicable provisions of the
California Government Code.
SECTION 2 – DISTRICT PROFILE
The District is located in California’s Central Valley in the southern portion of Sacramento
County, four miles south of the Sacramento City limits. The District is the largest community
services district in California, encompassing 157 square miles and serving an estimated
population of 210,000.
The District is a regional agency providing fire protection services to the cities of Elk Grove and
Galt, as well as unincorporated areas in southern Sacramento County. Additionally, the District
provides parks and recreation services exclusively to the Elk Grove community.
The District is dedicated to enhancing the quality of life of the residents, businesses, visitors,
and employees within the diverse community by protecting lives, property, and the environment
through superior fire suppression, emergency medical services, fire prevention, and special
operations response; and by providing parks and recreation services through well-maintained
parks and recreational opportunities for health, wellness, and social interactions.
The District’s adopted budget for Fiscal Year 2025-26 totals $157.1 million, exclusive of interfund
transactions. As of June 30, 2025, investments totaled $142.3 million, allocated as follows:
INVESTMENT DESCRIPTION
CA Cooperative Liquid Assets Securities System (CA Class)
Professionally Managed Investments
Local Agency Investment Fund (LAIF)
Money Market Account
Certificates of Deposit
TOTAL
AMOUNT
$77,661,680
$43,160,978
$1,037,218
$9,586,796
$10,878,976
$142,325,648
The District’s investment portfolio information provided above reflects balances as of June 30,
2025, and is presented for informational purposes only. June 30 represents the annual peak of
the District’s cash flow cycle, coinciding with the receipt of major property tax revenues.
Investment balances fluctuate significantly throughout the fiscal year and are considerably lower
during interim periods while the District awaits scheduled property tax disbursements. During
these periods, the District relies on short-term investments and highly liquid instruments to meet
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Cosumnes Community Services District RFP
Investment Management Services DA-26-051
ongoing operational and cash flow requirements. Proposers are encouraged to consider these
seasonal cash flow variations when developing investment strategies and service proposals.
SECTION 3 – SCOPE OF WORK
The Cosumnes Community Services District (“District”) is seeking proposals from qualified firms
(“Consultant” or “Investment Manager”) to provide professional investment advisory and/or
discretionary investment management services. The District anticipates that services may
include discretionary investment management authority, subject to the District’s adopted
Investment of District Funds Policy and any written trading authority granted by the District.
Proposers shall clearly describe whether services are proposed as non-discretionary advisory,
discretionary investment management, or a hybrid model, and shall describe the level of trading
authority requested. The selected firm shall provide services in accordance with the District’s
adopted Investment of District Funds Policy, applicable provisions of the California Government
Code, applicable GASB standards, and generally accepted best practices for public fund
management.
The Consultant shall act as a fiduciary to the District and shall place the District’s interests above
all other interests at all times.
Proposers shall describe in their proposal how they will provide the services outlined below. The
District reserves the right to modify the scope of services during contract negotiations.
Services may include, but are not limited to the following:
1. Investment Management and Advisory Services
a. Manage the District’s separate investment portfolios on a day-to-day basis, as
authorized by the District, pursuant to stated investment objectives and liquidity
requirements.
b. Execute investment transactions on behalf of the District, within the limits of the
District’s Investment of District Funds Policy and any written trading authority
granted by the District.
c. Structure and manage the investment portfolio with priority given to safety of
principal, liquidity, and yield, in that order.
d. Monitor market conditions and portfolio performance and recommend or
implement adjustments consistent with the District’s Investment of District Funds
Policy.
e. Serve as a general resource to District staff by providing ongoing information,
advice, and guidance related to fixed-income investments and public fund
investment practices.
2. Cash Flow and Liquidity Coordination
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Cosumnes Community Services District RFP
Investment Management Services DA-26-051
a. Work closely with District staff to understand cash flow projections, anticipated
expenditures, and revenue timing.
b. Align investment strategies and security maturities with the District’s operational,
capital, and liquidity needs.
c. Provide guidance on liquidity management under varying interest rate
environments and market conditions.
3. Compliance and Policy Support
a. Ensure all investment activities are conducted in compliance with the District’s
Investment of District Funds Policy and applicable state and federal laws.
b. Maintain records demonstrating portfolio diversification, credit quality, maturity
structure, and policy compliance.
c. Assist the District, upon request, with periodic review and recommended updates
to the Investment of District Funds Policy.
d. Advise the District of regulatory, statutory, or accounting changes affecting public
agency investments.
4. Reporting and Performance Measurement
a. Provide monthly investment statements that comply with California Government
Code and applicable GASB requirements, including:
• Detailed listing of securities held
• Purchase cost, current market value (mark-to-market), and maturity dates
• Portfolio composition and compliance metrics
b. Provide quarterly investment reports that include:
• Summary of market and economic conditions
• Investment strategies employed
• Portfolio performance relative to benchmarks
• Compliance with the Investment of District Funds Policy
• Recommended or implemented strategy changes
c. Present performance results in accordance with the CFA Institute’s Global
Investment Performance Standards (GIPS), where applicable.
d. Prepare ad hoc reports as requested to support Board presentations, audits, or
management review.
e. Present investment reports to the District’s Board of Directors or designated
committees, as requested.
5. Custodial and Broker Coordination
a. Coordinate with the District’s independent third-party custodian and approved
broker-dealer to facilitate transactions.
b. Assist the District in evaluating broker-dealer creditworthiness and performance.
c. Acknowledge that the Consultant shall not provide custodial services or security
3
Cosumnes Community Services District RFP
Investment Management Services DA-26-051
safekeeping, and all securities shall be held by an independent third-party
custodian in the name of the District.
6. Education and Additional Advisory Services
a. Provide investment-related education and training for District staff and/or Board
members upon request.
b. Offer market briefings, investment strategy reviews, peer benchmarking, liquidity
stress testing, or other special analyses as requested by the District.
c. Support the District during external audits, rating agency reviews, or other financial
examinations related to investment activities.
7. Governance, Ethics, and Fiduciary Standards
a. Acknowledge in writing that it is acting as a fiduciary to the District.
b. Disclose any actual or potential conflicts of interest.
c. Provide a copy of the firm’s Code of Ethics upon request.
d. Describe how independence from broker-dealers and product providers is
maintained.
e. Certify that all recommendations are made solely in the best interest of the District.
8. Risk Management and Internal Controls
a. Monitor and report key risks, including interest rate risk, credit risk, concentration
risk, liquidity risk, and market risk.
b. Conduct periodic stress testing and scenario analysis.
c. Describe internal compliance and risk management processes.
d. Notify the District of any material policy breach or significant market event affecting
the portfolio.
e. The Consultant shall operate under clearly defined discretionary limits and shall
not exceed authorized investment parameters without prior written approval from
the District.
9. Transparency and Disclosure
a. Disclose all forms of compensation and fees.
b. Disclose any revenue sharing, referral arrangements, or financial relationships that
may create a conflict of interest.
c. Disclose disciplinary actions, regulatory investigations, or litigation within the past
five (5) years.
d. Disclose fee benchmarking relative to comparable public agency clients.
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