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NTTA board approves advertising for investment advisory services RFP
Summary
The North Texas Tollway Authority board voted unanimously to advertise an RFP for outside investment advisory services, authorizing a two‑year contract procurement with an estimated budget of $400,000 to be paid from operations and maintenance funds.
The North Texas Tollway Authority voted unanimously Sept. 10 to advertise for professional investment advisory services and begin a procurement process that staff expects to conclude with final contract approval in January.
Staff said the RFP would seek advisory services for NTTA’s investment portfolio including recommendations, portfolio reviews, market analytics, broker‑dealer management and reporting. Kelly McGuire, the NTTA staff presenter, told the board that investment management to date has been conducted in‑house and that staff would retain all decision‑making authority if an outside adviser is selected.
McGuire said the procurement would begin this month with a cone of silence, with vendor selection for negotiation planned in December and a final board approval request in January. The budget estimate for the two‑year engagement is $400,000 and the contract would be paid from the authority’s operation and maintenance fund.
Board members asked how the estimate was derived and whether peer agencies use advisors. McGuire said industry conversations produced an estimate roughly equal to “one to two basis points” of the portfolio balance and that many Texas government entities with more than $100 million in assets retain outside advisors. She and other staff told the board the intention was to seek additional expertise and capacity while not increasing risk or changing the board‑approved investment policy.
Vice Chair Haddad made the motion to advertise; Director Kemp seconded. All board members present voted in favor.
Staff recommended approval to advertise the RFP and the board approved the request to advertise.
