Investment_Management_Services.pdf

Request for Proposal

To Provide

INVESTMENT MANAGEMENT SERVICES

Due

March 31, 2026, 2:00 pm

Issued by

WEST BASIN MUNICIPAL WATER DISTRICT

17140 South Avalon Boulevard, Suite 210

Carson, California 90746

Issue Date

March 13, 2026

RESPONSES MUST BE SUBMITTED ELECTRONICALLY TO:

https://procurement.opengov.com/portal/westbasin https://procurement.opengov.com/portal/%7bproject.government.code%7d

West Basin Municipal Water

REQUEST FOR PROPOSAL

Investment Management Services

1. Introduction

2. Scope of Work

3. General Proposal Information

4. Respondents Questions, Requests for Clarification and Exceptions

5. Small and Local Business Enterprise Program

6. Selection Process

7. Evaluation Criteria

8. Sample Agreement and Insurance Requirements

9. Proposal Response Instructions

10. Proposal Response

Attachments:

A - Admin Code - Investment Policy

B - Vendor Information Request Form

YYY - Sample Agremeent - Form 3 - Pro-Svc Non-Tech

1. Introduction

West Basin is a public agency that provides imported drinking water and recycled water to 17 cities and nearly one million people in the coastal Los Angeles area. West Basin is a member agency of the Metropolitan Water District of Southern California. West

Basin's mission is to provide a safe and reliable supply of high-quality water to its customers and communities with a commitment to water reliability, water quality, sound financial and resource management, customer service and environmental stewardship. West Basin is an internationally recognized expert in water recycling, conservation, water education and water resource management. To learn more about

West Basin please visit www.westbasinca.gov.

1.1. Summary

Proposals are being accepted by West Basin Municipal Water District (West Basin), a

Municipal Water District, for Investment Management Services.

1.2. Background

The District is seeking proposals from qualified firms to:

• Provide investment services in a comprehensive manner to handle the day-to-day administration and of the District's investment portfolio.

• The overall scope of services is to provide investment management and advisory services to help govern the District's investment portfolio, currently valued at approximately $77 million.

• The District's primary investment objectives are to maximize rate of return on public funds while minimizing all potential losses arising from investing activities such as market changes or an issue default.

1.3. Contact Information

Tikneshea Hicks, Contracts Administrator II

Email: tiknesheah@westbasinca.gov

Phone: (310) 660-6207

17140 Avalon Blvd, Carson, CA 90746

1.4. Timeline

Solicit Proposals: March 13, 2026

Last Day for Comments or Questions: March 23, 2026, 2:00pm

Proposal Due: March 31, 2026, 2:00pm

Candidate Interviews / Presentations: Week of April 13-24, 2026 https://www.westbasinca.gov/

Notice of Recommended Award: Week of May 4- 8, 2026

Recommendation to the Board of

Directors:

May 19, 2026

2. Scope of Work

2.1. Scope of Work

Specific responsibilities of the selected investment manager will include, but not be limited to the following:

• Manage on a daily basis West Basin's investment portfolio pursuant to the specific, stated investment objectives as defined by the District's Investment

Policy (Exhibit A)

• Provide research and options to West Basin for the purchase and sale of securities in order to receive transactional approval from West Basin.

• Assist in security settlement of executed transactions with the District's custodial bank.

• Serve as a general resource to West Basin's staff for information, advice, and training regarding fixed income securities and investments.

• Work with West Basin staff to manage its cash flow projections to ensure that the investment strategy is consistent with West Basin's liquidity requirements.

• Provide monthly statements with all the information required by California

Government Code and GASB. These reports must include a market-to-market valuation. The selected investment manager must maintain accurate reports of investments including the diversity of investments and compliance with applicable investment policies of West Basin and State of California statutes.

• Provide monthly statements including .

• Provide quarterly investment reports including a description of market conditions, investment strategies employed, performance and suggested changes to investment strategy. The performance numbers shall be presented as required by the CFA Institute's Global Investment Performance Standards or "GIPs".

• Review West Basin's current benchmark, suggest a more appropriate benchmark, if applicable, and track and report the performance on a monthly or quarterly basis.

• Make a minimum of two (2) in person presentations to the Board of Directors and

District staff as requested.

• Perform an annual investment policy review and provide West Basin staff with a written explanation of the recommended changes to the investment policy.

• Work with West Basin staff in their solicitation process and evaluation of custodial banks for the fixed income securities.

• Provide West Basin staff an annual estimate of anticipated interest income to be earned on the fixed income securities for its next fiscal year's operating budget.

3. General Proposal Information

A. Respondents are encouraged to carefully review this RFP in its entirety prior to preparation of their Proposals.

B. All Proposals submitted will become the property of West Basin.

C. Respondent may modify or amend its Proposal only if West Basin receives the amendment prior to the deadline stated herein for receiving Proposals.

D. A Proposal may be considered non-responsive if conditional, incomplete, or if it contains alterations of form, additions not called for, or other irregularities that may constitute a material change to the Proposal.

E. Proposal Validity – Proposals must be valid for a period of at least 90 days from the closing date and time of this solicitation. Proposals may not be withdrawn after the submission date.

F. Pre-Contractual Expenses – West Basin shall not, under any circumstance, be liable for any pre-contractual expenses incurred by Respondents in the preparation of their Proposals. Respondents shall not include any such expenses as part of their Proposals. Pre-contractual expenses are defined as expenses incurred by the Respondent in preparing its Proposal in response to this solicitation; submitting that Proposal to West Basin; negotiating with West

Basin any matter related to the Proposal; and, any other expenses incurred by the Respondent prior to the date of award and execution of an Agreement.

G. Right to Audit – Following execution of an agreement and for a period of three years following the completion of the services, West Basin will have the right to audit the successful Respondent’s (Awardee’s) invoices and all supporting documentation generated in performance of services under the agreement

H. Confidentiality – Confidentiality of Proposals is subject to the following:

o West Basin is subject to the Public Records Act, California Government Code

Section 6250 et. seq. As such, all required submittal information is subject to disclosure to the general public.

o Respondent may provide supplemental information exempt from public disclosure under Gov. Code § 6254, including “trade secrets” under Evidence

Code § 1060. Such supplemental information shall not be material to the required submittal information and West Basin shall be under no obligation to consider such supplemental information in its evaluation.

o If submitting confidential, supplemental information, such information shall be clearly marked "Confidential." Upon completion of its evaluation, West Basin will delete any confidential, supplemental information submitted.

I. West Basin reserves the right to:

o Reject any or all Proposals;

o Select the Proposal most advantageous to West Basin;

o Verify all information submitted in the Proposal;

o Withdraw this solicitation at any time without prior notice and furthermore, makes no representations that any contract will be awarded to any

Respondent responding to this solicitation;

o Award its total requirements to one Respondent or to apportion those requirements among two or more Respondents as West Basin may deem to be in its best interests;

o Negotiate the final contract with any Respondent(s) as necessary to serve the best interests of West Basin;

o Amend this solicitation;

o Amend the final contract to incorporate necessary attachments and exhibits or to reflect negotiations between West Basin and the successful

Respondent.

4. Respondents Questions, Requests for Clarification and Exceptions

In the event that the Respondent has any questions or requests for clarification, the

Respondent should notify West Basin with their concerns no later than the date and time noted in the timeline. Questions and Requests for Clarification must be submitted by this date through the OpenGov Question and Answer Module.

West Basin will respond to questions and requests for clarifications and exceptions via the OpenGov Question and Answer Module.

5. Small and Local Business Enterprise Program

5.1. Small and Local Business Enterprise

The District encourages the utilization of small and local businesses. To promote the participation of Small and Local Business Enterprises in the competitive Solicitation process, the District has established a program that provides incentives to encourage small and local Vendors to participate in District Solicitations

5.2. Definition of Terms - The following definitions shall apply:

• Local Business Enterprise (LBE) - To be considered as a local business enterprise, a firm must provide evidence, in the form of a business license, that the firm is located at a fixed commercial or residential address where administrative, clerical, professional or other productive work is performed relative to its commercial purpose. The firm must be located either within the

District’s service area or within 25 miles of the District’s Carson headquarters for a minimum of one year.

Click HERE to verify your firm’s Local status under the Small and Local Business

Enterprise Program on the "Doing Business with West Basin" page.

• Small Business Enterprise (SBE) - To be considered as a Small Business

Enterprise and to encourage maximum participation, the District will accept a

Vendor that meets and is certified to the federal U.S. Small Business

Administration (SBA) size standards or the SBE standards set by the California

Department of General Services (DGS). In addition, the District will accept a

Vendor’s self-certification of any local agency within the State of California. All certifications are subject to verification.

5.3. Verification

To qualify as a Small and/or Local Business Enterprise, the Respondent must provide verification of their Business Enterprise status in the Proposal Response Section of this

RFP.

5.4. Evaluation Scoring

All Formal and Informal Proposals for Professional Services will be evaluated on a 100-point scale. A value of three (3) additional points will be added to the evaluation scores https://www.westbasinca.gov/about-west-basin/doing-business-with-west-basin of SBE or LBE participants who propose as Prime Consultants on Professional Services

Agreements. If the participant is both a SBE and LBE, the Vendor will be awarded six

(6) points.

If a Prime Consultant includes a SBE or LBE as a Sub(s)in its Proposal, the District will award one (1) point for participation from SBE and/or LBE Sub(s) only if at least 30% of the total compensation paid by the District under the terms of the contract are allocated to and received by the SBE an/or LBE Sub(s).

In the event the proposed Services will be evaluated on a price basis only, the price

Proposals of SBE or LBE will be reduced by 3% (6% if both SBE & LBE) based on the percentage of SBE or LBE participation consistent with the policy described in the paragraph above. If, after this adjustment, the SBE or LBE is determined to be the most competitive price Proposal, the actual Contract amount will be the amount originally proposed.

6. Selection Process

A selection panel comprised of West Basin staff (and an outside panelist, depending on the engagement) will review the proposals and consider the following factors to select the most qualified Respondent:

• Completeness & Quality of Proposal

• Respondent Qualifications, Capabilities, and Experience

• Professional Qualifications of Key Personnel

• Technical Approach and Methodology

• References

• Compliance with Insurance Requirements

• Willingness to Provide Financial Information

• Cost Proposal

• Acceptance

• Interview

Based on review of the proposals, a short list of Respondents may be selected to participate in an interview / presentation. Short-listed Respondents must be prepared to give their presentation as soon as five (5) business days following the request by West

Basin. The interview / presentation will afford the Respondent an opportunity to present the key personnel assigned to the engagement and discuss their qualifications. The selection panel may ask questions about the Respondent’s written Proposal and other issues regarding their proposed Scope of Services. Presentations will be evaluated and a successful Respondent will be selected for recommendation of contract award. The selection panel will recommend the firm that provides the best overall value to West

Basin. Contract award is subject to the approval of West Basin’s Board of Directors.

By submitting responses to this solicitation, respondents understand and agree that

West Basin may award a contract to a firm whose approach exceeds or varies from the requirements listed. West Basin will be the sole judge of which proposal best satisfies the needs of West Basin.

Negotiations regarding agreement terms, conditions, scope of services, and pricing may or may not be conducted with the selected Respondent. Therefore, Proposals submitted should represent the Respondent’s most favorable terms and offering, since the selection and award may be made without discussion with any Respondent. If West

Basin engages the Respondent in negotiations and satisfactory agreement provisions cannot be reached, then negotiations may be terminated. West Basin may elect to contact another firm submitting a Proposal. This sequence may continue until an agreement is reached.

7. Evaluation Criteria

7.1. Technical Criteria

No. Evaluation Criteria Scoring Method Weight (Points)

1. Completeness & Quality of Proposal N/A N/A

2. Respondent Qualifications, Capabilities, and Experience N/A N/A

3. Professional Qualifications of Key

Personnel N/A N/A

4. Technical Approach and Methodology N/A N/A

5. References N/A N/A

6. Cost Proposal N/A N/A

7. Small Business Enterprise Incentive

Points N/A N/A

8. Local business Enterprise Incentive

Points N/A N/A

9. Small and Local Subs Incentive Points N/A N/A

7.2. Interview Criteria

No. Evaluation Criteria Scoring Method Weight (Points)

1. Interview N/A N/A

8. Sample Agreement and Insurance Requirements

A Sample Agreement has been attached for your review. This agreement is representative of the agreement that will be executed upon award to the successful Respondent. Submission of your proposal in response to this solicitation constitutes your acceptance of all terms and conditions set forth in this sample agreement, provided that a proposer may state exceptions to terms and conditions with its proposal, and provided further that exceptions to terms and conditions not included with a proposal shall, at the District’s option, be deemed waived.

The successful Respondent shall procure and maintain, for the duration of the agreement insurance against claims for injuries to persons or damages to property arising from or in connection with the performance of the work performed. The successful Respondent shall provide the following coverage:

Commercial General Liability $2,000,000

Business Automobile Liability $2,000,000

Workers’ Compensation $1,000,000

Professional Liability $2,000,000

Prior to the start of work, the successful Respondent shall provide evidence of insurance from an insurer(s) certifying to the coverage, including an endorsement naming West Basin as an additional insured. For a complete description of the insurance requirements, please see Section 14 of the

Sample Agreement.

9. Proposal Response Instructions

Proposal Instructions

A. Submittal

1. Respondent shall submit their proposal ONLINE through the e-procurement system.

2. Proposals are due BEFORE 2:00 pm, Tuesday, March 31, 2026. The E-

Procurement System will block submittal attempts after the deadline. To be clear – 2:00 PM IS LATE. THERE ARE NO EXCEPTIONS.

B. Response Requirements

1. The information requested below will be used to evaluate the Respondent’s

Proposal. Respondents may be deemed non-responsive if they do not respond to all Sections, A through J (below).

2. Proposals must be prepared simply and economically, providing a straightforward, concise description of methodology and approach to satisfy the requirements of this solicitation. Emphasis should be on completeness and clarity of content with sufficient detail to allow for accurate evaluation and comparative analysis.

3. Respondent’s Proposal shall be clear, concise, accurate, and comprehensive. Excessive or irrelevant materials will not be favorably received.

4. The Proposals shall be organized an uploaded to the OpenGov Proposal

Response Section in the order presented below:

a. Executive Summary Letter

b. Qualifications, Capabilities, and Experience

c. Key Personnel

d. Technical Approach and Methodology

e. References

f. Price Proposal

g. Compliance with Insurance Requirements Confirmation

h. Minimum Requirements Compliance Confirmation

i. Willingness to Provide Financial Information Confirmation

j. Acceptance Confirmation

10. Proposal Response

10.1. Proposal Response*

A. Executive Summary Letter

This letter shall be a brief formal letter from Respondent that provides information regarding the firm and its ability to perform the requirements of this solicitation. This letter must include the following information: complete legal company name (as it should appear in a contract), address, contact person, telephone number, and e-mail address. This letter shall identify all materials and enclosures being forwarded in response to this solicitation. The letter must be signed by an individual authorized to bind the proposing entity or by the two corporate officers authorized to bind the proposing entity as set forth in the

California Corporations Code. A proposal submission with an unsigned

Executive Summary Letter may result in the proposal being considered non-responsive.

B. Qualifications, Capabilities, and Experience

Respondent shall provide a brief discussion of its qualifications and capabilities to perform work similar in nature to the services requested herein. Respondent shall provide a brief discussion of its previous experience with engagements that are the same or similar in nature to the services requested herein.

C. Key Personnel

Respondent shall provide the names, resumes, and a statement of qualifications of key personnel who are expected to be assigned to this project and shall identify their specific responsibilities.

In addition, Respondent shall submit a complete list of all subconsultants they intend to utilize in the provision of services requested in this solicitation. Prevailing wages shall be paid to any subconsultant who provides labor on the project for which a prevailing wage classification has been established by the State of California Department of Industrial Relations. The

District reserves the right to request copies of certified payrolls and any other documentation necessary to verify the payment of prevailing wages and fringe benefits from subconsultants of any tier in accordance with the California Labor

Code.

D. Technical Approach and Methodology

Respondent shall provide a discussion of ways to maximize benefits or services to West Basin as well as discuss objectives, recommendations and solutions. Respondent shall provide a project schedule and timeline by task illustrating key deliverables. Respondent is encouraged to identify and recommend any improvements/enhancements for the proposed service, as well as highlight any other issues Respondent deems appropriate.

E. References

Respondent’ shall provide a minimum of three (3) references from different clients for engagements performed in the last five (5) years where the services provided were the same or similar nature to the services requested herein. Respondent’s Reference Information should include:

a. Client’s name, contact person, contact person’s responsibility and relationship to the project, address, telephone number, and email address.

b. A description of the type and extent of the services provided by

Respondent to the client.

c. Names of key personnel on Respondent’s team that participated in named projects and their specific responsibilities.

*Response required

10.2. Price Proposal*

Respondent shall submit a Price Proposal for the services requested in this solicitation.

The Price Proposal shall be delineated by Task as identified in the Scope of Work. West

Basin may accept and incorporate the submitted Price Proposal as part of the award/agreement process without further negotiation or, alternatively, may use it as the basis for negotiations. Consequently, Respondents are encouraged to provide their best pricing terms.

Please list itemized fee schedule:

• Monthly Statements

• Quarterly Statements

• Annual Statements

*Response required

10.3. Proposal Validity*

By clicking YES below, the Respondent agrees to the minimum proposal validity.

Responses to this RFP shall be valid for a minimum of 90 days. Submissions not valid for at least 90 days will be considered non-responsive.

☐ Yes

☐ No

*Response required

10.4. Compliance with Insurance Requirements*

Insurance requirements are listed in the in the Sample Agreement. The District will request the actual Accord insurance form and associated documentation when recommendation for award is made.

By clicking YES below, the Respondent confirms their ability to provide the required insurance coverage and Accord insurance form.

☐ Yes

☐ No

*Response required

10.5. Minimum Requirement(s) Compliance*

In addition to demonstrating that it meets the minimum requirements, Respondent shall affirm that it meets the minimum requirement by confirming below to agree to the following statement:

“I certify that I meet the minimum requirements of this solicitation.”

Respondent’s Proposal may be deemed non-responsive if these minimum requirement(s) are not met. The minimum requirements are defined in the Scope of

Services.

☐ Yes

☐ No

*Response required

10.6. Willingness to Provide Financial Statement *

If selected, Respondent may be requested to submit a complete financial statement for the two most recent years, prepared in accordance with generally accepted accounting principles. The financial statement must include a balance sheet and income statement.

By clicking Yes below, Respondent indicates that they are prepared to substantiate all information provided. Respondent must indicate herein Respondent’s willingness to provide this information.

☐ Yes

☐ No

*Response required

10.7. Small Business Enterprise Verification*

Do you qualify as Small Business Enterprise?

Small Business Enterprise (SBE): To be considered as a Small Business Enterprise and to encourage maximum participation, the District will accept a Vendor that meets and is certified to the Federal U.S. Small Business Administration (SBA) size standards, or the SBE standards set by the California Department of General

Services (DGS). In addition, the District will accept a Vendor’s self-certification of any local agency within the State of California. All certifications are subject to verification.

If yes - respondent must attach documentation of Small Business certification.

☐ Yes

☐ No

*Response required

When equals "Yes"

10.7.1. Upload SBE certification.*

*Response required

10.8. Local Business Enterprise Verification*

Do you qualify as Local Business Enterprise?

Local Business Enterprise (LBE): To be considered as a Local Business Enterprise, a Vendor must provide evidence, in the form of a business license, that the Vendor is located at a fixed commercial or residential address where administrative, clerical, professional or other productive work is performed relative to its commercial purpose. The Vendor must be located either within the District’s service area or, within

25 miles of the District’s Carson headquarters for a minimum of one year.

Please click HERE to determine if your firm is considered Local, under Small and Local

Business Enterprise Program.

If yes - respondent must attach current copy of the firm's business license.

☐ Yes

☐ No

*Response required

When equals "Yes"

10.8.1. Upload business license.*

*Response required

10.9. Sub(s) Small and Local Business Enterprise Verification* Do you have a Sub Supplier, Subcontractor or Subconsultant that qualifies as

SBE or LBE?

Participation from either SBE or LBE Sub(s) qualify only if at least 30% of the total compensation paid by the District under the terms of the contract are allocated to and https://www.sba.gov/federal-contracting/contracting-guide/size-standards/size-standards-tool?ms=fp https://www.dgs.ca.gov/PD/Resources/SCM/TOC/12/12 https://www.dgs.ca.gov/PD/Resources/SCM/TOC/12/12 https://www.westbasinca.gov/about-west-basin/doing-business-with-west-basin received by the SBE or LBE Sub(s).

The Prime must include the Sub(s) services and compensation in its Price Form.

If yes - the Prime (respondent) must attach current copy of the Sub(s) business license and/or SBE certification.

☐ Yes

☐ No

*Response required

When equals "Yes"

10.9.1. Upload Sub(s) business license and/or SBE certification.* *Response required

10.10. Acceptance*

By clicking Yes below, I, on behalf of the Respondent submitting this Proposal, quotation, or bid acknowledge that I have read and understand the subject solicitation and all its attachments. I further acknowledge that, by submission of a proposal, quotation, or bid in response to the subject solicitation, the Respondent accepts all the terms and conditions set forth in the subject solicitation and its attachments, including, but not limited to, the Sample Agreement or the Purchase Order Standard Terms and

Conditions, except as specifically identified in an exception submitted concurrently therewith.

☐ Yes

☐ No

*Response required

10.11. How did you first hear about this project?*

☐ Direct email / notification from OpenGov

☐ West Basin's Website

☐ West Basin Procurement Newsletter

☐ Industry Outreach Event

☐ West Basin's Virtual Outreach Webinar

☐ Construction Bid Platform (Ebidboard, Dodge Data, ConstructConnect, etc.)

☐ Social Media

☐ Other

*Response required

10.12. [FOR NEW VENDORS ONLY] Attach Company W-9

10.13. [For New Vendor Only] Attach New Vendor Form The New Vendor Form is located in the Attachments section, Attachment B.