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Committee discusses timing of RFP for investment management after 2012 arrangement
Summary
Committee members asked when the village last reviewed its investment manager; staff said portfolios were established in 2012, no RFP has been run since, and recommended considering an RFP in 2027 while noting conservative investment policy limits options.
Committee members questioned how often the village evaluates its investment manager. Greg said the portfolios were established in 2012 and that he has not conducted an RFP for trust management since then; he noted the trust contract is separate from banking services and suggested considering an RFP around 2027.
Staff cautioned that the village's conservative investment policy (safety, liquidity, yield) constrains manager options and that potential value from an RFP is likely to appear in administrative costs rather than materially different investment returns because many managers invest in similar funds. Committee discussion left the item as staff research and possible follow‑up.
