Description
Title: Continuation of Bloomberg Agreement
Summary
The Sacramento City Council is considering a resolution to continue the Bloomberg Agreement for the Fiscal Year 2026-2027. This agreement allows the City Treasurer's Office and the Sacramento City Employees’ Retirement System (SCERS) to utilize Bloomberg L.P.'s data, services, and equipment for investment management. Established in 2016, the agreement stipulates that it can be renewed annually unless the City Treasurer opts to discontinue it. The estimated annual cost is approximately $85,360, with SCERS covering 70% of the expenses. This continuation is essential for efficiently managing public funds and retirement assets, ensuring that the city and its employees have access to critical financial information and tools necessary for sound investment decisions.