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Agreement with Chandler Asset Management for Investment Advisory Services

This agreement helps ensure your city's investment funds are managed professionally to maximize returns and support city services you depend on.

Jul 2, 2024

Agreement with Chandler Asset Management for Investment Advisory Services

This investment management service could nearly double the city's investment earnings, generating millions more for essential services like police, fire, and street repairs in your community.

Jul 2, 2024

Investment Advisory Services Agreement with Chandler Asset

Jun 25, 2024

Jul 2, 2024

city council

The largest spending decision at the July 2, 2024 Compton City Council meeting was a five-year Municipal Law Enforcement Services Agreement with the Los Angeles County Sheriff's Department at $27.84 million for the first annual term ($20.70M from the General Fund, with the balance from other funds), approved 4-1 with Councilmember Spicer dissenting; the city manager stated the prior contract had expired June 30, 2024, and acknowledged that the window to negotiate new terms had already closed before his arrival, resulting in renewal at existing terms. The council also approved a $100,500 recurring contract with Chandler Asset Management for investment advisory services (5-0) and an agreement with Allied Managed Care for workers' compensation program administration with no dollar figure specified in the agenda (5-0). A proposed agreement with Hyland Software — structured across three sub-$100,000 line items totaling $227,799, including two separate charges of $98,634 each sitting just below the $100,000 council approval threshold — was pulled by the City Clerk before a vote and was not approved at this meeting. The council voted 5-0 to enter a donation agreement accepting an estimated $80,000 playspace at Lueders Park from KABOOM!, Inc. in partnership with the Dior Sunset Foundation ($8,500); at least two residents publicly questioned the LASD contract during public comment, with one calling for a feasibility study on establishing a municipal police department.

Jun 25, 2024

city council

The council's largest approved expenditures at its June 25, 2024 meeting were $600,000 to United Pacific Services for tree trimming using ARPA funds (5-0), $322,839 sole-source to CLA-VAL Company for water control valve repairs from ARPA (5-0), $252,405 to Johnson Controls — a vendor the city manager's office stated the city has used for roughly 17 to 18 years — for City Hall HVAC maintenance drawn from Measure P fund balance (5-0), $167,145 to ChargePoint for fleet charging stations (5-0), $100,000 to The Blue Diamond Company for asphalt materials (5-0), and $84,465 to Carson Chevrolet for a 2024 Chevrolet Tahoe for the fire chief (5-0). The council withdrew without a vote the meeting's largest single item — a proposed $1.82 million multi-year agreement with Yunex Traffic for traffic signal and street light maintenance — after members cited service deficiencies and noted only one vendor had responded to the solicitation; a $100,500 investment advisory contract with Chandler Asset Management was also pulled by staff before a vote, and a $763.36 GovConnection computer equipment order was pulled by a council member over invoice calculation discrepancies. Two approved contracts involved split-payment structuring across multiple line items: Govinvest Inc. received $227,056 total for software management services (5-0) and MGT of America Consulting received $48,688 total for Senate Bill 90 consulting (5-0); B-Adair Consulting & Administrative Services was approved on the consent agenda for $24,900 in grant reconciliation services — $100 below the standard $25,000 council approval threshold — as part of a 5-0 consent vote. The FY 2024-2025 budget passed 4-1 with Councilwoman Darden dissenting, fireworks stand permits were approved 4-1 with Mayor Sharif voting no, and approximately 20 residents addressed the council during public comment, raising concerns about fireworks safety, a video shoot that blocked local businesses without advance notice, trash collection reliability, and the recurring selection of the same nonprofit organizations for CDBG grant funding.