Investment Advisory Services

H-GAC is requesting proposals from qualified investment advisory firms for portfolio management services. Investment practices and procedures must comply with state law and H-GAC's written investment policy. H-GAC's investment policy (Attachment B) is based on the principles of prudent money management and Texas law relating to the investment of public funds. The primary objective calls for the safety of invested funds. Secondary to safety is sufficiency of liquid cash to meet ongoing obligations. The policy also calls for maximizing the interest yield of funds and diversification. H-GAC, by way of its investment advisor, purchases investments with the intent to hold until maturity but does not preclude sales before maturity if it can be demonstrated that the transaction will benefit the portfolio. H-GAC’s investment style can be described as moderately active.

Responsibility of the investment program is assigned to the Chief Financial Officer. Attachment B contains H-GACs investment report for the quarter ended December 31, 2024. H-GAC is seeking proposals from qualified firms to provide investment services in a comprehensive manner to handle the day-to-day administration of H-GAC’s investment portfolio; and provide discretionary investment advisory services to help govern H-GAC’s investment portfolio, currently valued at approximately $35 million.

The Houston-Galveston Area Council (H-GAC) is the region-wide voluntary association of 133 local governments and local elected officials in the 13-county Gulf Coast Planning region of Texas. Local elected officials organized H-GAC in 1966 after authorization by State enabling legislation. Its service area is 12,500 square miles and includes more than 7-million residents. H-GAC is governed by a 36-member Board of Directors composed of local elected officials, who serve on the governing bodies of member local governments. All H-GAC programs are carried out under the policy direction of its Board of Directors. H-GAC’s mission is to serve as the instrument of local government cooperation, promoting the region’s orderly development and the safety and welfare of its residents. H-GAC is the regional organization through which local governments consider issues and cooperate in solving area-wide problems. Agency programs emphasize local government concerns, such as transportation, air and water quality, criminal justice, demographic analysis, mapping programs, and intergovernmental purchasing. H-GAC also serves its citizens through workforce development programs, services to the aging and elderly, and small business finance programs.