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Commission tables consideration of 3plus1 liquidity service, directs RFP process for broader investment review
Summary
After a lengthy discussion about municipal cash-management options and broker/adviser models, the commission voted 5-0 to table a proposed sole-source contract with 3 Plus 1 for liquidity and treasury analysis and directed staff to pursue an RFP/RFQ and further finance-committee review.
The Safety Harbor City Commission on Monday voted 5-0 to table action on a one-year, $30,000 professional services agreement with 3 Plus 1 Inc. that would have provided continuous liquidity and treasury-analysis monitoring of the city’s cash and accounts.
Al Braithwaite, a finance consultant working with staff, presented the 3 Plus 1 proposal and described the firm’s proprietary software that analyzes bank/deposit data to identify opportunities to extend investment durations while…
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