Recently, the City of Gillette issued a request for proposal for investment advisory services.  On November 5, 2019, Finance Director Henderson presented the RFP process and firm selection during the council pre-meeting.  The City entered into an agreement with PFM Asset Management, LLC., the selected firm, that same date.  Now that PFM has been authorized to manage the City’s funds, the next step is to become a participant in the local government investment pool.

During the presentation, Director Henderson introduced the Wyoming Government Investment Fund.  The Wyoming Government Investment Fund (WGIF) was created July 1, 1996 to provide cash-management investments designed exclusively for Wyoming public entities. PFM Asset Management, LLC administers this fund which will provide for a portion of the liquidity segmentation of the City’s investment portfolio.  A resolution is required for the City of Gillette to participate in this pool and respectively create a custodial relationship with U.S. Bank National Association.