REQUEST FOR QUOTES (RFQ) 12896

TREASURER-TAX COLLECTOR

INVESTMENT ADVISORY SERVICES

September 17, 2026

A. KEY INFORMATION

1. The County of San Diego is seeking quotes from firms interested in providing Investment Advisory Services (“Offerors”).

2. The County anticipates a contract term of an initial (base) period of three (3) year(s), with two (2) one-year option periods.

3. The County has posted this solicitation on its official BuyNet website at https://sdbuynet.sandiegocounty.gov/.

To see all information related to this RFQ, to submit Questions, and to receive notifications of updates, Offerors must select “Participate in RFx” for this solicitation in BuyNet.

4. The Contracting Officer for this solicitation is Stacy Mendoza, Procurement Specialist, (StacyR.Mendoza@sdcounty.ca.gov).

5. Schedule: This timeline is subject to change at any time, at the County’s sole discretion. The County will issue an addendum for changes to the Questions due date, or Quote due date.

Event Description Date and Time (San Diego Time) Questions due September 25, 2026 prior to 5:00 p.m.

Quotes due October 16, 2026 prior to 5:00 p.m.

6. Questions:

6.1. Offerors should submit all Questions, including requests for clarification related to definition or interpretation of this RFQ, in writing by the Date and Time specified in the Schedule. Offerors should submit Questions via BuyNet, by sending a message to the Contracting Officer through the “Discussions” functionality.

6.2. Non-Offerors should direct inquiries regarding this solicitation to the Contracting Officer.

7. Table of Contents:

A. Key Information B. RFQ Instructions and Rules C. Submittal Items D. Required Forms E. Statement of Work F. Payment Schedule G. Draft Agreement

MAGGIE RAMSBERGER

INTERIM DIRECTOR

DEPARTMENT OF PURCHASING AND CONTRACTING

5560 OVERLAND AVENUE, SUITE 270, SAN DIEGO, CALIFORNIA 92123-1204

PHONE (858) 505-6367 FAX (858) 715-6452

BRENDA G. MILLER

ASSISTANT DIRECTOR

https://sdbuynet.sandiegocounty.gov/ mailto:StacyR.Mendoza@sdcounty.ca.gov

COUNTY OF SAN DIEGO – REQUEST FOR QUOTATIONS (RFQ) 12896

DEPARTMENT OF TREASURER AND TAX COLLECTOR

B. RFQ INSTRUCTIONS AND RULES

1. INSTRUCTIONS FOR SUBMITTING A QUOTE

1.1. It is Offeror’s responsibility to submit a quote based on the most current RFQ, addenda thereto, County’s responses to Questions, any other information posted on BuyNet, and any diligence material made available by the County. Offerors are advised to regularly check BuyNet for information. The County has no obligation to contact Offerors directly with any such RFQ-related information.

1.1.1. To see all information related to this RFQ, to submit Questions, and to receive notifications of updates, Offerors must select “Participate in RFx” for this solicitation in BuyNet.

1.1.2. If an Offeror is unable to download this document, an Offeror may request a hard copy from

Department of Purchasing and Contracting’s front desk or contact clerical support at (858) 505- 6367.

1.2. Forms required to be submitted with Offerors response to this RFQ are included in this RFQ or posted on the County’s web site at: https://www.sandiegocounty.gov/content/sdc/purchasing/purchasing-forms.html.

1.2.1. The County may update posted forms from time to time. Unless otherwise specified, Offerors may submit the version of a form in place as of the date of the posting of this RFQ or any later version thereof.

1.3. Offeror must submit a complete original quote in accordance with the format provided in this solicitation to the County of San Diego, Department of Purchasing and Contracting, through electronic upload to BuyNet before the Date and Time listed in Schedule.

1.3.1. If Offeror is unable to submit via BuyNet for any reason, Offeror may submit its quote via email to the Contracting Officer listed in this document or provide the Purchasing and Contracting front desk with either (i) electronic files on CD/DVD; or, (ii) a printed quote. Offeror must prominently mark such submissions with the RFQ number on the outside of the packaging. Please use this method only if unable to submit through BuyNet.

2. QUESTIONS

2.1. Offerors shall direct requests for explanation regarding the RFQ or related documents to the Contracting

Officer, in writing, as a question (“Question”). Offerors may submit Questions by sending a message to the Contracting Officer through the “Discussions” functionality in BuyNet.

2.2. The County may choose not to respond to Questions received after the date and time stated in the Schedule for Question submission. Offeror is responsible for ensuring that Questions are received by the County.

3. QUOTE FORMAT

3.1. Submit electronic quotes as files in .pdf format, except where specified otherwise. For pages other than signature pages, converted and searchable formats are preferred.

3.2. All quotes shall be signed with a handwritten signature by an authorized officer or employee of Offeror.

4. QUOTE ORGANIZATION

4.1. Your quote should be organized in accordance with the Submittal Items in this RFQ.

4.1.1. Offerors shall organize content to correspond to the applicable exhibit and question or item within each exhibit.

4.1.2. Offerors shall separate each exhibit into one or more files, clearly named as to the exhibit and order.

4.1.3. Pages shall be consecutively numbered within each exhibit at the bottom or top margin of each page.

4.1.4. Cost/Price information:

4.1.4.1. Offerors must place all cost and pricing information within the Cost/Price exhibit. Price shall be inclusive of all proposed compensation.

4.2. Confidential/Proprietary information:

https://www.sandiegocounty.gov/content/sdc/purchasing/purchasing-forms.html https://www.sandiegocounty.gov/content/sdc/purchasing/purchasing-forms.html

4.2.1. The County is a public agency subject to the California Public Records Act, Government Code § 7920.000, et seq. Some or all of the documents submitted in response to this RFQ may be subject to disclosure, and the County intends to publish any resulting contracts to its public website.

4.2.2. It is Offeror’s responsibility to identify and separate into a “CONFIDENTIAL/PROPRIETARY” exhibit and to provide a signed Nondisclosure Indemnification Agreement for:

4.2.2.1. All confidential information that Offeror represents, with legal basis, is exempt from disclosure pursuant to the California Public Records Act, including PI (Personal Information), PII (Personally Identifiable Information), or PHI (Protected Health Information);

4.2.2.2. Any proprietary or other information Offeror represents, with legal basis, is exempt from disclosure under the California Public Records Act and wishes to protect from disclosure.

4.2.3. The “CONFIDENTIAL/PROPRIETARY” exhibit must be clearly labeled with all pages marked as “CONFIDENTIAL/PROPRIETARY.”

4.2.4. Offeror should reference material in the “CONFIDENTIAL/PROPRIETARY” exhibit where it is needed to respond to a Submittal Item through citation to the “CONFIDENTIAL/PROPRIETARY” exhibit (for example “See response 1 contained within the ‘CONFIDENTIAL/PROPRIETARY’ exhibit for staff Social Security numbers”).

4.2.5. If the County determines that a submission improperly designates information as confidential or proprietary, the County may, at its sole discretion: (i) deem the information releasable; (ii) declare the submission non-conforming/non-responsive; (iii) remove such information, or (iv) take any other appropriate action. (Note: Pricing and Terms and Conditions are generally not confidential under the California Public Records Act).

5. QUOTE EVALUATION

5.1. Evaluations may consider factors such as technical merit, experience, capacity, history of Offeror compliance, availability, price, and more to determine the quote(s) that provide the best value to the County.

5.2. During evaluation, the County may appropriately consider the sustainability and social, human health, environmental, and economic impact of Offeror’s proposed products and/or approach to providing goods and/or services, in accordance with Board Policy B-67. Therefore, Offerors are encouraged to include relevant information in their quotes, to the degree related to the goods or services sought.

5.3. During evaluation, the County may appropriately evaluate the cultural competency of Offeror and Offeror’s proposed approach to providing goods and services. Therefore, Offerors are encouraged to include relevant information in their quotes, to the degree related to the goods or services sought.

5.4. When evaluating an Offeror’s cost or pricing, the County may also consider the effect of the quote on the overall total cost to the County.

6. COUNTY COMMITMENT

6.1. This RFQ does not commit the County to award a contract, nor does it commit the County to pay any of

Offeror’s costs incurred in the preparation or submission of the quote. Further, Offeror shall not incur any reimbursable cost in anticipation of a contract award.

6.2. Neither Offeror nor any of its representatives shall have any claims whatsoever against the County or any of its respective officials, agents, or employees arising out of or relating to this RFQ or these procedures (other than those arising under a definitive contract with Offeror in accordance with the terms thereof).

6.3. The County reserves the right to separately procure the same or similar goods or services.

6.4. The County may withhold all information regarding this procurement until after negotiations are complete, including, but not limited to: the number of quotes received; the identity of Offeror(s); the content of quotes; the County’s evaluation and results thereof. Information releasable after the conclusion of negotiations is subject to the disclosure requirements and withholding exemptions of the California Public Records Act.

6.5. Pursuant to County Charter §§ 703.10 and 916, award of a contract resulting from this RFQ may be subject to the County’s requirement to determine that the services can be provided more economically and efficiently by an independent contractor than by persons employed in the Classified Service.

6.6. In the event that an Offeror is involved in a merger, acquisition, or other change in control, the County reserves the right to award a contract to a resulting entity.

7. DILIGENCE AND DUTY TO INQUIRE

7.1. Should Offeror find discrepancies in or omissions from, or be in doubt as to the meaning of, the RFQ or related documents, Offeror shall have a duty to submit a Question to the County.

7.2. Offerors are expected to perform reasonable due diligence with regard to this RFQ and the work required, including, but not limited to, information that is publicly or otherwise reasonably available and, if applicable, information that can be obtained during a site visit (including verification of measurements, conditions, and other attributes). Neither the selected Offeror(s), nor any Offerors, shall be entitled to any price adjustment or other relief based upon information that was discovered or should have been discovered through due diligence.

7.3. The County makes no representation or warranty, express or implied, as to the accuracy or completeness of any diligence material or other information provided by the County or any of its agents, representatives, contractors, or consultants. Such information may reflect good faith assumptions, estimates, or projections, which may or may not prove to be correct.

7.4. Offeror should not rely upon oral statements made or explanations given by the County, including any oral responses to Questions or other inquiries. No prior, current, or post award communication(s) with any officer, agent, or employee of the County shall affect or modify any terms or requirements of this RFQ, except as explicitly provided for in this RFQ.

8. OFFEROR COMMUNICATIONS

8.1. All communications from Offeror (including its employees, agents, and representatives) to the County or its officers and employees (including consultants working on or assisting with this procurement), related to this RFQ or Offeror’s quote, must be directed in writing exclusively to the Contracting Officer, unless otherwise authorized in writing by the Contracting Officer. Offerors shall not communicate with or attempt to contact any other County personnel about this solicitation, except as otherwise allowed for in this RFQ or by law. Any improper contact may, at the County’s sole discretion, cause Offeror to be removed from consideration for contract award.

8.2. If Offeror issues any public announcement or otherwise engages in communication that, in the County’s sole determination, compromises the integrity of this RFQ process or attempts to restrain competition, Offeror may be removed from consideration for award.

8.3. Audio and/or video recording of presentations, discussions, negotiations, or other communications with the County regarding this RFQ are prohibited, unless specifically authorized in writing by the Contracting Officer.

9. SOLICITING EMPLOYEES

9.1. Until contract award, Offerors shall not, directly or indirectly, solicit any employee of the County to leave the County’s employ in order to accept employment with Offeror, its affiliates, actual or prospective contractors, or any person acting in concert with Offeror without prior written approval of the County’s Contracting Officer. This paragraph does not prevent the employment by Offeror of a County employee who has initiated contact with Offeror.

10. PROHIBITED CONTRACTS AND SUBCONTRACTS

10.1. In accordance with Section 67 of the San Diego County Administrative Code, the County shall not contract with, and shall reject any quote submitted by, the person or entities specified below, unless the Board of Supervisors finds that special circumstances exist which justify the approval of such contract:

10.1.1. Persons employed by the County or of public agencies for which the Board of Supervisors is the governing body;

10.1.2. Profit-making firms or businesses in which employees described in subsection 11.1.1 serve as officers, principals, partners, or major shareholders;

10.1.3. Persons who, within the immediately preceding twelve (12) months, came within the provisions of subsection 11.1.1 and who (i) were employed in positions of substantial responsibility in the area of service to be performed by the contract; or, (ii) participated in any way in developing the contract or its service specifications; and

10.1.4. Profit-making firms or businesses in which the former employees described in subsection 11.1.3 serve as officers, principals, partners, or major shareholders.

10.2. Per Board Policy A-79, a successful Offeror that is a non-profit corporation shall not subcontract any work under the agreement with a related for-profit subcontractor where an interlocking directorate, management, or ownership relationship exists, unless specifically authorized by the Board of Supervisors.

10.3. Offeror certifies that, if awarded a contract under this RFQ, such contract will be in compliance with Sections 11.1 and 11.2 above. Offeror shall promptly notify the County of any change in circumstance affecting these provisions.

11. CALIFORNIA REVENUE & TAXATION CODE § 18662

11.1. In compliance with California Revenue and Taxation Code § 18662, if Offeror is a non-resident of

California (out-of-state invoices) that receives California source income and has not completed Franchise Tax Board Form 590, there may be a backup withholding on all payments. Fifteen (15) business days prior to the first payment from the County, new suppliers or suppliers with expired forms or forms with incorrect information must submit new forms to the County (forms are available from the Franchise Tax Board website listed below).

11.2. Under certain circumstances, Offerors may be eligible for reduced or waived nonresident withholding. If Offeror has already received a waiver or a reduced withholding response from the State of California and the response remains valid, Offeror should submit the response to the County in lieu of the forms. Failure to submit the required forms will result in withholding of payments. Offerors should access the Franchise Tax Board websites, listed below, for tax forms and relevant information regarding non-resident withholding, including waivers or reductions. The County will not give Offerors any tax advice. It is recommended that Offerors speak with their tax advisers and/or the State of California for guidance.

Franchise Tax Board Websites:

https://www.ftb.ca.gov https://www.ftb.ca.gov/forms/search/

11.3. If selected for award, Offeror must submit applicable forms to the Auditor & Controller via fax, at (858) 694-2060, or mail originals to: County of San Diego, 5530 Overland Avenue, Suite 410, San Diego, CA 92123. The P.O. Number or Contract Number (if available) and “California Revenue and Taxation Code § 18662” must appear on fax cover sheet and/or the outside of the mailing envelope.

12. W-9 FORM

12.1. If selected for award, Offeror must complete and submit a W-9 form if a current form is not on file with the County.

https://www.ftb.ca.gov/ https://www.ftb.ca.gov/forms/search/

C. SUBMITTAL ITEMS

1. EXHIBIT 1 - REQUIRED FORMS

1.1 Submit a completed and signed Offeror’s Cover Page (PC600) form

• Required for all Offerors

• located at:

https://www.sandiegocounty.gov/content/dam/sdc/purchasing/docs/PC600_dpc_Offerors_Cover_Page.pdf

1.2 Submit a completed and signed Representations and Certifications form (PC601)

• Required for all Offerors

• located at:

https://www.sandiegocounty.gov/content/dam/sdc/purchasing/docs/PC601_dpc_Reps_and_Certs.pdf

1.3 Submit a completed and signed Small-Local Business Self-Certification Form (PC610)

• All Offerors are encouraged to complete this form to support County data collection.

• located at:

https://www.sandiegocounty.gov/content/dam/sdc/purchasing/docs/PC610_dpc_Small_Local_Self_Cert.pdf

1.4 Submit a completed and signed Nondisclosure Indemnification Agreement (PC620) (if applicable).

• Required if submitting Confidential/Proprietary Information (see RFQ Instructions and Rules section 4.2)

• located at:

https://www.sandiegocounty.gov/content/dam/sdc/purchasing/docs/PC620_dpc_Nondisclosure_Indemnity.pdf

1.5 Submit forms/documents as required by Section D of this RFQ.

2. EXHIBIT 2 – PROGRAM/TECHNICAL EXHIBIT

SECTION 2A: PROGRAM APPROACH

2.1 Firm Overview. Provide an executive summary/overview of your firm. The discussion should include: (i) a description of your firm’s history, including years in business, (ii) areas of firm’s expertise and service provided (iii) brief U.S. fixed income market outlook.

2.2 Firm Experience and Capabilities.

2.2.1 Demonstrate your firm’s capabilities and qualifications to serve the County, based on the services requested, as outlined in the Statement of Work (Exhibit A). In your response, include an example of (i) your firm’s experience as an investment advisor to a government asset management entity or an entity similar to the County of San Diego Office of the Treasurer-Tax Collector, (ii) a description of the services performed, and (iii) the dates of these services performed.

2.2.2 Provide one specific example of the most recently dated portfolio report for a representative client with at least a 3-year client history. Include items outlined by Statement of Work Sections 3.1 and 3.3, if applicable, as well as any other attribution or performance reporting you offer. An example of a U.S. fixed-income portfolio is preferred.

2.2.3 Provide one example of a recent project that demonstrates your advisory capabilities. Explain the reasons behind the project and how the solution was implemented.

2.2.4 Review our Investment Pool report as of March 31, 2026, and answer the below questions:

2.2.4.1 What is your opinion on the duration of the Pool?

2.2.4.2 What is your opinion on the amount of credit risk in the Pool?

2.2.4.3 What is your opinion on the amount of liquidity in the Pool?

2.2.5 References. Using the format below, provide at least three (3) public agencies in California for which your firm has performed similar work since January 1, 2016. List the name of each agency, including its total assets under management. Include the name, telephone number, and email address for the firm’s point of contact at each agency. Also, include which member(s) of the proposed project team have worked with each agency. The County will make reasonable attempts to contact references.

https://www.sandiegocounty.gov/content/dam/sdc/purchasing/docs/PC600_dpc_Offerors_Cover_Page.pdf https://www.sandiegocounty.gov/content/dam/sdc/purchasing/docs/PC601_dpc_Reps_and_Certs.pdf https://www.sandiegocounty.gov/content/dam/sdc/purchasing/docs/PC610_dpc_Small_Local_Self_Cert.pdf https://www.sandiegocounty.gov/content/dam/sdc/purchasing/docs/PC620_dpc_Nondisclosure_Indemnity.pdf

Name of

Agency

Reference Contact Person Similar Projects Project Team

Name

Title

Telephone Number

E-mail

Address(es)

Portfolio

Size

Average Credit

Quality or Rating

Investment Objectives

Length of

Management

2.3 Proposed Organizational Charts and Staffing

2.3.1 Organizational Chart. Provide an organizational chart that describes the Offeror's overall organization and illustrates the relationship of the proposed program with other organizational divisions, programs, and sections. Indicate the lines of organizational management, authority, and responsibility.

2.3.2 Proposed Investment Advisory Team. Provide a staffing chart that describes the Offeror's proposed program and identifies program staff positions (by name and title, if known) and reporting responsibility. The Offeror may combine both the organizational and staffing charts, as long as all of the requested information is presented.

2.3.2.1 Provide a resume or biography of each person on the Investment Advisory team. The Offeror should assign one or more account manager(s) to the County with a minimum of ten (10) years’ experience per person in providing financial advisory services and participating in the investment strategy meeting as described in the Statement of Work Section 3.7. Include the position title, experience, education, and relevant certifications such as the Chartered Financial Analyst (CFA) designation.

2.3.2.2 Describe the amount of time (in hours per week) each team member would be assigned to the County.

SECTION 2B – TECHNICAL APPROACH

2.4 Compliance to “Exhibit A – Statement of Work (SOW)” requirements. Confirm your agreement to the requirements as stated.

Yes ☐ No ☐

2.4.1 If your organization has exceptions to any requirements, provide a marked up redline version of the Statement of Work that provides applicable alternative language along with a supporting explanation to support any alternative standards/language being proposed. Failure to specifically reject a proposed requirement will be deemed an acceptance of such requirement. With the understanding that all items outlined by the Statement of Work (Exhibit A) are desired, describe areas of concern where your firm may not be able to always meet.

2.5 Describe how your firm will provide the consultant services required in the Statement of Work (Exhibit A).

Descriptions should be in sequential order, corresponding with how each work component is listed in the Statement of Work; label each description with the appropriate paragraph number from the Statement of Work. Include which items would be automated and which would be (manually) provided by Treasurer-Tax Collector (TTC).

2.5.1 Provide sample reports meeting the requirements outlined in the Statement of Work (Exhibit A) Sections 4.2 – 4.7 and 4.9.

2.5.2 Provide sample analysis performed for existing clients covering topics outlined in the Statement of Work (Exhibit A) Section 5.1.1 – 5.1.3.

2.6 Implementation/Transition of Services.

2.6.1 Detail how many transitions your firm has completed in the last three years with a government entity.

2.6.2 Provide a comprehensive implementation plan, timeline and process to ensure the Pool maintains compliance monitoring with applicable Codes and Policies throughout the implementation period.

Include:

2.6.2.1 A transition timeline that identifies major milestones. The County anticipates transition to be completed within sixty days of contract award.

2.6.2.2 A clear description of the blackout period.

2.6.2.3 The number of days for training (remote), and the amount of effort required by all parties involved.

2.6.2.4 Confirm the name/qualifications of the assigned transition relationship manager and transitions specialists.

2.6.2.4.1 Additionally, describe the role of the relationship manager during the transition process.

2.6.2.4.2 Describe the role of a transition specialist that might be assigned to this plan, and how many transitions they would be simultaneously responsible for.

2.6.2.5 Provide information regarding how your firm monitors the effectiveness and quality of its transition team.

2.6.2.6 Detail the County resources (including County IT Outsourcer resources) required during the transition process.

2.6.2.7 Describe any obstacles experienced, observed or anticipated in recent conversions that may have delayed the “go live” date.

2.6.2.8 Describe how your firm will keep the County updated on the status of the transition.

2.6.3 IT Security and Performance.

2.6.3.1 Does your organization currently have a documented cybersecurity risk management strategy in place specific to a government entity? If yes, please provide associated documentation.

2.6.3.2 Does your organization currently have a privacy policy that discloses how client data is gathered, used, and managed? If yes, please provide a copy of this policy.

2.6.3.3 Provide your organization’s Service Level Agreement that will be applicable to this contract.

Include applicable documented procedures for escalation if service level agreement is not met and associated remedies for not meeting service level agreements.

2.6.3.4 Provide documentation to support the functional specifications for application.

2.6.3.5 Provide technical specifications for application.

2.6.3.6 Provide a detailed description as to how patches are deployed.

2.6.3.7 Provide a detailed description as to how upgrades are deployed.

2.7 Describe your data back-up process.

3. EXHIBIT 3 - COST/PRICE EXHIBIT

3.1 Submit a completed Payment Schedule.

4. EXHIBIT 4 – ACCEPTANCE OF TERMS AND CONDITIONS

4.1 Confirm acceptance “YES/NO” of the County of San Diego’s Draft Agreement (including insurance requirements):

YES ☐ NO ☐

4.1.1 If “NO,” provide a detailed list of exceptions to the terms and conditions, the nature of its concern, and what terms the Offeror is willing to accept.

Note: The Offeror will be deemed to have accepted any terms and conditions of the Contract to which it does not take exception to. The County may, as part of its evaluation process, conclude that exceptions are so numerous and/or material as to make Offeror’s response to the solicitation unacceptable.

5. EXHIBIT 5 – CONFIDENTIAL PROPRIETARY

5.1 Include any Confidential/Proprietary Information in this exhibit, in accordance with RFQ Instructions and Rules section 4.2

D. REQUIRED FORMS

The following of the required forms are included in this RFQ and should be completed and submitted as part of Exhibit 1 – Required Forms as described in the Submittal Items. Other forms may be obtained from the links provided for, or as otherwise instructed, in the Submittal Items.

1. Form ADV (Parts 1 and 2): provide a complete and current copy of the Firm’s Uniform Application for Investment Adviser Registration as filed with the Securities and Exchange Commission (SEC) or the California Department of Financial Protection and Innovation (DFPI).

2. Federal SEC Registration Verification: provide a current Summary Report from the SEC’s Investment Adviser Public Disclosure (IAPD) system demonstrating an "Approved" registration status.

3. California State Notice Filing: provide documentation verifying compliance with California Corporations Code Section 25230.1. This shall consist of a current IAPD or CRD Summary Report explicitly showing the status of "Notice Filed" or "Approved" for the State of California.

E. STATEMENT OF WORK

1. Scope of Work/Purpose

The selected investment advisory services firm (“Contractor”) shall provide oversight and advice, compliance monitoring, record-keeping, reporting, and other duties regarding investments managed by the County of San Diego Treasurer-Tax Collector.

2. Background Information

2.1. The County of San Diego (“County”), through the Office of the Treasurer-Tax Collector and its investment staff (“TTC”), manages a Local Government Investment Pool (“Pool”) consisting of pooled monies belonging to the County, school districts, community college districts, and certain special districts and other governmental agencies within the County. The investment staff comprises four full-time Investment Officers and two full-time Investment Analysts. This team is responsible for all Pool and stand-alone portfolio trades and other investment activities. The Treasury Accounting Team is responsible for monthly reconciliations of the Pool and those stand-alone portfolios with individual securities and daily interest income entries to the County’s financial accounting system.

2.2. As of January 31, 2026, the total assets of the Pool were $16.6 billion. The Pool reached an all-time high of $18.9 billion in April 2025. The Pool is actively managed in accordance with the California Government Code, the County of San Diego Treasurer’s Pooled Money Fund Investment Policy (“Investment Policy”), and internal investment guidelines and procedures. The Pool pursues its objectives by investing in a diversified portfolio of high-quality securities, which include U.S. Treasury and agency securities, corporate obligations, and selected money market instruments. The Pool’s objectives, in the order of priority, are principal preservation, liquidity, and yield.

2.3. In addition, TTC also manages three other stand-alone investment portfolios, the largest and most active being the County’s $240 million tobacco securitization endowment, which is primarily invested in tax-exempt, municipal securities. The tobacco endowment has its own investment policy, though it is also managed in accordance with California Government Code. Other stand-alone portfolios may also have separate investment policies. The one other stand-alone investment portfolio is small and is currently invested entirely in the Pool.

2.4. The Contractor shall perform a range of functions, including ongoing oversight and advice, compliance monitoring, record-keeping and reporting of the TTC’s investments, and performing investment-related projects, as requested, and detailed in Section 5 of this SOW. The Contractor shall be a Registered Investment Advisor, as defined and regulated by the Securities and Exchange Commission and/or registered with the State of California in accordance with the California Code of Regulations – Title 10, Chapter 3, Subchapter 2, and rules contained in applicable articles therein.

3. Specific Requirements for Service Delivery

3.1. On a weekly (post-trade) basis, the Contractor shall verify Pool portfolio compliance with the Investment Policy and California Government Code and deliver email notifications to TTC of any discrepancies.

3.2. Contractor shall maintain accurate records and reports, including investment positions.

3.3. Contractor shall provide to the County a web-based portal to their Treasury Management System (“TMS”).

3.4. Contractor shall include County cash and investment data in the TMS, to include, at a minimum, the following for the Pool and all stand-alone investment portfolios, as applicable:

• Current holdings and positions

• Daily Bloomberg and money market trading activity

• Monthly Money Market interest earnings

• Daily ending bank balances (JP Morgan Chase)

• Daily Money Market ending balances (less than 10 accounts)

• Monthly Market Price of investments

• For each stand-alone portfolio, balances in the Pool, according to the County’s accounting system (currently Oracle)

3.5. Contractor’s TMS shall include, at a minimum, the following data requirements:

• Portfolio account identification

• CUSIP number

• Issuer Name

• Trade Date

• Settlement Date

• Dated Date

• Issue Date

• Maturity Date

• Par Value

• Purchase Price

• Principal Amount

• Accrued Interest

• Broker Name

• Asset Class (Long Term vs Short Term)

• Coupon Rate

• First Coupon Date

• End Coupon Date

• Days to Maturity

• Yield to Maturity

• Weighted Average Days to Maturity (WAM)

• Next Call Date and Call Frequency

• Book Value

• Market Value

• Interest Payment Schedule and dates

• Interest Period (i.e. Semi-Annual, Monthly, Quarterly)

• Security Ratings (Fitch, Moody’s, and S&P)

3.6. Contractor shall reconcile all investment positions and valuations among the various data sources feeding into the TMS.

3.7. Contractor may, at the direction of the County, be required to access data with County providers either through an automatic feed or the County allowing direct, read-only access to providers’ systems.

3.8. County may provide certain data to Contractor for balances and activity that cannot be interfaced or directly accessed.

3.9. Each stand-alone investment portfolio’s data shall be segregated and not co-mingled with Pool data or other portfolio’s data, except for the portion invested in the Pool. Current stand-alone investment portfolios are:

• Tobacco Endowment

• First 5 Operating

3.10. At the sole discretion of the County, from time to time, the County may add or remove stand-alone portfolios.

3.11. Contractor shall participate in conference calls with TTC, at least monthly, to discuss market conditions, portfolio structure and composition, regulatory changes, upcoming modifications/proposals to the California Government Code or other issues related to the management of the Pool.

3.12. Contractor shall be available to answer questions of TTC on an as-needed basis.

3.13. Contractor shall attend and present information, if requested, at Treasury Oversight Committee meetings, generally held twice per year in April and October, and no more than four times per year.

4. Data Collection and Reporting Requirements

4.1. Contractor’s TMS shall include report download capabilities in both PDF and Excel.

4.2. Contractor shall develop and electronically deliver a monthly report on the Pool to include, at a minimum, information included in the July 2026 report located at:

https://www.sdttc.com/content/dam/ttc/docs/treasury/pool_reports_2607.pdf. Format and content are subject to change. TTC will provide certain information from County records, such as participant balances, which Contractor shall include in the monthly report.

4.3. Contractor shall develop a Daily Projected Cashflow Report for all portfolios.

4.4. Contractor shall develop a Position Report for all portfolios listing the redemptions and interest income received for that day.

4.5. Contractor shall develop a monthly Portfolio Management & Accrued Interest Report for all portfolios.

4.6. Annually, Contractor shall provide assistance with reports in accordance with Government Accounting Standards Board (“GASB”) Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools. Reports shall include detail of each Pool investment and shall include all Pool cash and investments.

4.7. Annually, Contractor shall provide assistance with reports in accordance with GASB Statement No. 72, Fair Value Measurement and Application. Reports shall include all applicable Pool investments. Reports shall include detail of each Pool investment within levels I, II, and III.

4.8. Contractor shall provide assistance with reports to Contractor’s TMS for new GASB Statements relating to cash and investments implemented during the contract period.

4.9. Contractor shall provide additional reporting, at least monthly, on performance attribution, trends in the portfolios over time, and other topics, as requested by TTC.

5. Additional services on an ad hoc basis:

5.1. Contractor shall perform projects or research as requested by the County, including:

5.1.1. Contractor shall provide advice and make recommendations on investment strategies to enhance and diversify portfolio performance.

5.1.2. Contractor shall assist with the development and review of investment management procedures and documentation.

5.1.3. Contractor shall assist in the evaluation of benchmarks used to measure and manage the portfolio or in the development of new benchmarks used to measure all or a portion of the portfolio.

5.1.4. Contractor shall be available for the rating agency’s annual review meeting with TTC.

5.1.5. Contractor shall present or assist with TTC Symposiums, no more than 3 per year, and topics for educational purposes.

6. Cyber Security

6.1. Contractor shall provide timely remediation of all security incidents.

6.2. Contractor shall have documented privacy and security protocols in place to deter “hacking” by firm’s employees and external entities.

6.3. Contractor shall have a method of data encryption for both in transmission and at rest.

6.4. Contractor shall have a documented cybersecurity risk management strategy in place specific to a Government entity.

6.5. Contractor shall have security protocols and contractual protections in service agreements with third-party providers that the firm may utilize (i.e., outside trustees, screen scrape tools, interfaces, brokerage firms, etc.).

6.6. Contractor shall assume liability for data breaches.

6.7. Contractor shall notify the County in the event of a security breach within twenty-four hours and provide https://www.sdttc.com/content/dam/ttc/docs/treasury/pool_reports_2607.pdf follow-up procedures. In the event that the breach relates to Personally Identifiable Information (PII), Contractor shall provide notification to the County within two hours.

6.8. Contractor shall store all data inside the United States.

6.9. Contractor system shall be open to standard secured web ports using SSL and compatible with all latest browsers, including but not limited to Internet Explorer, MS Edge, and Google Chrome.

6.10. Contractor's solution shall store passwords in encrypted form and access restricted to authorized users.

6.11. Contractor's solution shall force periodic password changes.

6.12. Contractor's solution shall have a documented intrusion prevention and detection capabilities.

6.13. Contractor solution application shall not allow persistent connections (keep-a-lives) allowing sessions to remain open indefinitely.

6.14. Contractor solution application shall encrypt for all data transfers to ensure secure transmission of data.

6.15. Contractor solution shall provide overview of security features of the application for systems administration purposes.

6.16. Contractor solution shall allow for role-based access.

6.17. Contractor solution application shall be able to restrict access to the application.

6.18. Contractor solution application shall be able to restrict access to administrative tools.

6.19. Contractor solution application shall be able to restrict access to reporting tools.

6.20. Contractor solution shall provide a complete audit trail of transactions.

6.21. Contractor solution application shall log user activity.

6.22. Contractor solution application shall be able to report on user activity within application.

6.23. Contractor solution application shall support multifactor authentication.

6.24. Contractor solution application shall have data loss prevention capabilities.

6.25. Contractor shall provide a service level agreement that protects the County against data loss and data integrity issues.

6.26. Contractor solution shall perform auto-account deprovisioning due to inactivity.

6.27. Contractor shall have a privacy policy that discloses how they gather, uses, and manages client data.

6.28. Contractor solution shall support identity partitioning for multitenancy.

6.29. Contractor solution shall support application layer vulnerability scans.

6.30. Contractor solution shall provide proactive auditing and notification of incidents of inappropriate management activity.

7. Transition/Deployment/Performance Monitoring

7.1. Contractor solution shall acquire final customer acceptance to deploy.

7.2. Contractor solution shall meet all technical requirements to deploy.

7.3. Contractor shall limit scheduled maintenance and communicate it in advance.

7.4. Contractor solution shall provide data migration onboarding and off boarding services.

7.5. Contractor solution shall provide Active Directory integration.

7.6. Contractor solution shall support real-time performance health checks, thresholds, and alerts.

7.7. Contractor solution shall have performance monitoring service that supports customer-defined monitoring metrics.

7.8. Contractor solution shall include functionality to disable unused feature/ functions.

7.9. Contractor shall conduct annual third-party audits (e.g. SSAE (Statement on Standards for Attestation Engagements)) and make reports available to clients.

7.10. Contractor shall concur that all ownership rights to data, inputs, and outputs remain with the County.

7.11. Contractor shall concur that all data will never be shared with another party without explicit written permission of the County.

7.12. Contractor shall provide documented data and media destruction procedures, including the destruction of back-ups, and timeframes after the County has removed its data.

7.13. Contractor shall provide ability to download data in original format at any time without additional cost.

7.14. Contractor shall agree that de-provisioned account data will remain on provider’s servers for a reasonable amount of time for the County to archive.

7.15. Contractor shall automatically notify the County of SLA miss.

7.16. Contractor solution shall be compatible with identity and access management technologies.

7.17. Contractor shall own and manage the data center where the data will be stored. (If not, Contractor will provide a list of all third-party data center owners, operators, and locations).

7.18. Contractor shall provide documentation of the infrastructure providing service.

7.19. Contractor shall provide architecture diagrams for the solution.

7.20. Contractor shall provide publicly accessible SLA definition for all services with versioning and revision history.

7.21. Contractor shall provide publicly accessible and downloadable terms of service.

7.22. Contractor shall agree the definition of downtime starts when service is unavailable or degraded.

7.23. Contractor shall provide professional services for transition, support, and deployment.

7.24. Contractor solution shall have delegated administration for role-based access through Lightweight Directory Access Protocol (LDAP)s or other authorization groups.

7.25. Contractor solution shall complete all documentation required by the County related to security and system approvals.

8. Post Deployment

8.1. Contractor solution shall resolve all bugs identified in a timeframe and manner that is mutually agreed upon between Contractor and County of San Diego.

8.2. Contractor solution shall provide a roll-back plan for bug fixes.

8.3. Contractor solution shall provide assistance with training, along with tutorials.

8.4. Contractor solution shall provide a detailed Contractor Help Desk strategy for the County, both during the transition, upon “go-live,” and for the post-implementation period.

8.5. Contractor solution shall provide timely technical support to County users.

8.6. Contractor solution shall provide a roll-back plan for patches.

8.7. Contractor solution customizations shall be carried forward as part of system upgrade.

8.8. Contractor solution shall provide a roll-back plan for upgrades.

9. Compatibility/ System Integration

9.1. Contractor's solution shall be compatible with multiple browsers, and version N-1 (Where N is the current version).:

9.1.1. Microsoft Edge (N-1)

9.1.2. Google Chrome (N-1)

9.2. Contractor's solution shall be compatible with Windows 10, 64-bit operating systems.

9.3. Contractor's solution shall be compatible with Symantec antivirus software.

9.4. System shall allow import/export of data in multiple formats (e.g., csv, xml, etc.).

10. Tech Support & Training

10.1. Contractor shall provide technical support during County business hours with a same-day response via email and telephone.

10.2. Contractor shall provide ongoing training to County staff on use, features, and security of system.

10.3. Contractor shall recommend adding specific number of days for remote training.

10.4. Contractor solution shall be available 24 hours a day, 7 days a week, 365 days a year.

10.5. Contractor solution shall meet an uptime as agreed upon by the County (i.e., 99.999% uptime).

10.6. Contractor shall provide documented incident notification and response plan.

10.7. Contractor shall provide live-human-support offering in English.

11. Business Continuity Planning:

11.1. Contractor shall recover systems to full functionality within a timeframe agreed to by the County in the event of a disaster.

11.2. Contractor shall provide a published Disaster Recovery plan with annual testing and results, document high availability and disaster recovery capabilities, procedures, and locations.

11.3. Contractor shall have a backup system to cover any technical or other failures, such as fax or telephone reporting.

11.4. Contractor shall provide documented data backup and restore capabilities, procedures, and locations.

11.5. Contractor shall provide clearly defined RTO (Recovery Time Objective) and RPO (Recovery Point Objective) for service(s) and data restoration.

F. PAYMENT SCHEDULE

TERM QTY MONTHLY

PRICE

EXTENDED

PRICE

Initial Term – November 1, 2026 – October 31, 2027 12 $ $ Initial Term – November 1, 2027 – October 31, 2028 12 $ $ Initial Term – November, 2028 – October 31, 2029 12 $ $ Option Year 1 – November 1, 2029 – October 31, 2030 12 $ $ Option Year 2 – November 1, 2030 – October 31, 2031 12 $ $

TOTAL CONTRACT AMOUNT $

The cost is fixed for the initial term of the agreement (3 years) plus two (2) one-year extension options, and the County will not be subject to any increases during this period.

Fee schedule is all-inclusive for the services that the Contractor provides, including full-time oversight as an external consultant, technological resources, onboarding and discovery process, online access to the Contractor’s client portal, comprehensive reporting, meetings, personal visits, and educational offerings for staff, as well as the investment advisory services described in Contractor’s proposal and in the County’s Exhibit A, Statement of Work. There are no additional charges to the County related to Contractor’s investment advisory services.

G. DRAFT AGREEMENT

The County’s contract with the successful Offeror(s) will be based upon the following Draft Agreement, structured as follows:

Draft Agreement

Exhibit A – Statement of Work Exhibit B – Insurance Requirements Exhibit C – Payment Schedule

Exhibits A (Statement of Work) and C (Payment Schedule) will be added during contract finalization. Offerors will be deemed to have accepted the Draft Agreement and Statement of Work, except where Offeror has taken clear exception in its quote in accordance with and when provided for in the Submittal Items.

This agreement (“Agreement”) is made and entered into effective as of the date of the last signature on the signature page by and between the County of San Diego, a political subdivision of the State of California (“County”) and [ ], located at [ ] (“Contractor”), with reference to the following facts:

RECITALS

A. Pursuant to the San Diego County Administrative Code section 401, the County’s Director of the Department of Purchasing and Contracting is authorized to award a contract for Investment Advisory Services.

B. Contractor is specially trained and possesses certain skills, experience, education, and competency to perform these services.

C. The Chief Administrative Officer made a determination that Contractor can perform the services more economically and efficiently than the County, pursuant to section 703.10 of the County Charter.

D. The Agreement shall consist of:

• This document,

• Exhibit A Statement of Work,

• Exhibit B Insurance Requirements, and

• Exhibit C Payment Schedule.

E. In the event of a conflict between any provisions of this Agreement, the following order of precedence shall govern: First (1st) this document; Second (2nd) Exhibit B; Third (3rd) Exhibit A; and Fourth (4th) Exhibit C.

NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

ARTICLE 1

KEY PROVISIONS

1.1 CONTRACTOR: _____

1.2 SERVICES: Investment Advisory Services

1.3 AGREEMENT TERM: The initial term of this Agreement shall begin on November 1, 2026, and end on October 31, 2029, for an Agreement period of three (3) years (“Initial Term”).

1.4 OPTION TO EXTEND: The County shall have the option to extend the term of this Agreement for two (2) increments of tow (2) year(s) (each an “Option Period”), for a total of two (2) years beyond the expiration of the Initial Term, not to exceed October 31, 2031. This option shall be automatically exercised unless County notifies Contractor in writing not less than thirty (30) days prior to an Option Period that the County does not intend to extend the Agreement.

1.4.1 Options to Extend for One to Six Additional Months at End of Agreement. County shall also have the option to extend the term of this Agreement, in one or more increments, for a total of no less than one (1) and no more than six (6) calendar months (“Incremental Options”). The County may exercise each Incremental Option by providing written notice to Contractor no fewer than fifteen (15) calendar days prior to expiration of this Agreement. The rates in effect at the time an Incremental Option is exercised shall apply during the term of the Incremental Option.

1.5 COMPENSATION: Pursuant to Exhibit C, Article 4, and other applicable provisions of this Agreement, County agrees to pay Contractor a sum not to exceed [# write out amount] ($######) (“Maximum Agreement Amount”).