Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
North Penn board tables proposal to hire Cornerstone for cash-management services, votes to pursue RFP option
Summary
After a presentation from investment advisers Cornerstone, the board voted 6–3 to table hiring the firm and explore a request-for-proposal process. Members raised questions about fees, references and whether the service could be provided internally.
The North Penn School District Board of School Directors on Jan. 6 heard a presentation from Cornerstone, a private investment-advisory firm, and then voted 6–3 to table a proposal to retain the firm pending further procurement review and a possible request for proposals (RFP).
Cornerstone representatives described an "open architecture" approach that does not sell proprietary products, and said their mandate for school-district clients is to prioritize safety, liquidity and yield. In the presentation, Cornerstone staff cited firm metrics including "over 97% client retention" and proposed a first-year engagement cost…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
