Exhibit 1 - Agenda Information Sheet
City of Denton
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AGENDA INFORMATION SHEET
DEPARTMENT: Procurement
DCM: David Gaines
DATE: May 17, 2022
SUBJECT
Consider adoption of an ordinance of the City of Denton, a Texas home-rule municipal corporation,
authorizing the City Manager to execute a contract with Hilltop Securities, Inc., for investment advisory
services for the Finance Department; providing for the expenditure of funds therefor; and providing an
effective date (RFP 7953 – awarded to Hilltop Securities, Inc., for two (2) years, with the option for one (1)
additional two (2) year extension, in the total four (4) year not-to-exceed amount of $335,000.00).
INFORMATION/BACKGROUND
The City’s Finance Department is tasked with managing the City’s investment portfolio with an external
investment advisor. The investment process and the advisory contract are guided by the Public Funds
Investment Act (PFIA), which allows a contract term no longer than two years and requires City Council
approval to renew an additional two-year term. The current contract with Hilltop Securites Asset
Management, LLC (HSAM) expires on May 31, 2022.
The Request for Proposals was sent to 371 prospective suppliers, including 12 Deton firms, for this item.
In addition, specifications were placed on the Procurement website for prospective suppliers to download
and advertised in the local newspaper. Four (4) proposals were received and the evaluation team composed
of Treasury and Budget personnel answered questions by email and interviewed the two top-ranked bidders.
References were checked, and proposals were evaluated based upon published criteria including key
personnel, compliance with specifications, and price. Based upon this evaluation, Hilltop Securities, Inc.
was ranked the highest and determined to be the best value for the City.
NIGP Code Used for Solicitation: 946-(Service Only)-Financial Services
& 958-(Service Only)-Management
Services
Notifications sent for Solicitation sent in IonWave: 371
Number of Suppliers that viewed Solicitation in IonWave: 14
HUB-Historically Underutilized Business Invitations sent out: 29
SBE-Small Business Enterprise Invitations sent out: 155
Responses from Solicitation: 4
City Hall
215 E. McKinney Street
Denton, Texas
www.cityofdenton.com
RECOMMENDATION
Award a contract with Hilltop Securities, Inc., for investment advisory services for the Finance Department,
in a two (2) year, with the option for one (1) additional two (2) year extension, in the total four (4) year not-
to-exceed amount of $335,000.
PRINCIPAL PLACE OF BUSINESS
Hilltop Securities, Inc.
Dallas, TX
ESTIMATED SCHEDULE OF PROJECT
This is an initial two (2) year contract with options to extend the contract for one (1) additional two (2) year
periods, with all terms and conditions remaining the same.
FISCAL INFORMATION
These services will be funded from Treasury Contracts account 160099.7878. Requisition #155566 has
been entered into the Purchasing software system in the amount of $25,000. The budgeted amount for this
item is $335,000.
Annual Amount (4 years x 76,000) $304,000
Contingency $31,000
Total Contract $335,000
EXHIBITS
Exhibit 1: Agenda Information Sheet
Exhibit 2: Pricing Evaluation
Exhibit 3: Ordinance and Contract
Respectfully submitted:
Lori Hewell, 940-349-7100
Purchasing Manager
For information concerning this acquisition, contact: Randee Klingele, 940-349-8206.
Legal point of contact: Marcella Lunn at 940-349-8333.