Government Contract | New York
CASH MANAGEMENT/ADVISORY SERVICES AND CUSTODY SERVICES

Bid Information


Bid Alert No: 00000505865

Bid Title: CASH MANAGEMENT/ADVISORY SERVICES AND CUSTODY SERVICES

Agency Bid No. Title: Not Stated

Received Date: 03/09/2016

Close Date: 04/04/2016

Purchase Type: 5 year term

Delivery Point:

Delivery Date: Not Stated

Special Notices: Questions Due By 03/21/2016

Specifications

Specifications include, but are not limited tThe following describes the existing structure of the Authority which entails the creation of four separate and distinct cash management/investment accounts. Each has specific liquidity needs, but all are governed by one set of Investment Guidelines (Exhibit D); which are updated annually. The selected Proposer(s) for each scope of services will have their respective responsibilities for each of the accounts listed below. 1.Rate Stabilization: Portfolio size has been constant at $150 million, as required by the Authoritys General Resolution. Typically there are no daily cash flows into or out of this portfolio which allows the investment manager flexibility in investment choices. 2.Operating Portfolio: The Authority uses this portfolio to meet its day-to-day operational needs. Therefore, daily cash flows are common into or out of the portfolio and range from $5 million to $50 million on average. Once per month the Authority funds an account for PSEG LI to draw from to maintain the system. Such transfers can be as large at $130 million dollars. The high demand for liquidity will limit the flexibility of this portfolio in terms of maturities. An annual forecast will be provided to assist the cash manager and would also be updated monthly, if substantial variations are expected. The Authority will also provide verbal feedback on cash flows as neededo:

Product Codes: 94629, 94648, 94656

Agency Information


Issuing Agency: Long Island Power Authority

State: New York

Agency Type: State and Local

Contact: William Funk Long Island Power Authority, 333 Earle Ovington Boulevard, Uniondale, New York, 11553

Phone: 516-222-9137

Email: wfunk@lipower.org

< PREVIOUS PAGE

GET A FREE
MARKET
ANALYSIS

FREE Market Analysis


Get a FREE 90-Day Market Analysis and see the bids you’ve been missing

GET BIDS NOW