Introduction
The K’ima:w Medical Center is seeking proposals from qualified investment management firms to provide comprehensive investment services, including handling day-to-day portfolio administration, and providing discretionary investment advisory services to help govern the Medical Center investment portfolio.
Respondents to this RFP shall submit completed proposals electronically by 5:00 p.m. on May 26, 2023, to the following address: scott.lewis [at] kimaw.org (subject: Investment%20Management%20and%20Advisory%20Services) (scott[dot]lewis[at]kimaw[dot]org)
Scott Lewis
Chief Financial Officer
535 Airport Road
Hoopa, CA 95546
Please contact Scott Lewis if you have any questions.
Email: Scott.Lewis [at] Kimaw.org (Scott[dot]Lewis[at]Kimaw[dot]org)
About the K’ima:w Medical Center
K’ima:w Medical Center, a robust ambulatory healthcare service center for the greater Hoopa Valley, has been in operation since 1974. The Joint Commission accredits the medical center, and this independent, not-for-profit national body oversees the safety and quality of healthcare and other services provided by accredited organizations. For years, the tribal health clinic was called the “Hoopa Health Association.” The name was officially changed in 1998 to the K’ima:w Medical Center. K’ima:w means “good medicine” in the Hupa language.
Departments
- Administration
- Ambulance
- Behavioral Health
- Billing
- Dental
- Diabetes
- Fiscal
- Health Information Management (Medical Records)
- Human Resources
- Information Technology
- Lab
- MMIW/DV/SA
- Medical
- Medication Assisted Treatment Program
- Nursing
- Outreach
- PRC
- Patient Benefits
- Pharmacy
- Senior Nutrition
- Transportation
- Radiology
KMC’s fiscal year begins on October 1 and ends on September 30. For Fiscal Year 2022-23, the K’ima:w Medical Center has an operating budget of approximately $26 million for all funds, and non-grant revenue is roughly $7.5 million. While KMC operations generate revenue from various medical services, such as Clinical, Dental Lab, X-ray, and Pharmacy activities, the Indian Health Service provides annual funding through the Department of the Interior. KMC also receives State and Federal Grants.
Background
The Center’s fiscal year begins on October 1 and ends on September 30. For Fiscal Year 2022-23, the K’ima:w Medical Center has a total operating budget of approximately $26 million for all funds and non-grant revenue is approximately $7.5 million of that total. While Center operations generate revenue from various medical services, such as Clinical, Dental Lab, X-ray and Pharmacy, activity, Indian Health Service provide an annual funding amount through the Department of Interior. The Center also receives State and Federal Grants.
- The Center’s portfolio is approximately $20 million in operating and obligated funds (non-pension funds). The Center’s investment policy can be found in Attachment A.
Scope of Investment Management and Advisory Services
The objective of this RFP is to receive proposals for investment management and advisory services. Services shall include, but are not necessarily limited to, the following described below.
The scope of this RFP is exclusive of custodial services, funds held in Trust, security safekeeping, and Successor Agency funds. Successor Agency funds may be added to the scope at a future date pending the Finance Department’s approval. The firm(s) selected will be required to provide the following services:
Services to Be Performed
Specific services to be performed, although not all-inclusive, are as follows:
- Prepare a maturity analysis.
- Evaluate market risk and develop strategies that minimize the impact on the portfolio.
- Provide assurance of portfolio compliance with applicable policies and laws and the Center’s Investment Policy.
- Assist the Center to define and establish an appropriate performance benchmark.
- Provide monthly/quarterly annual reporting on all Center funds under management.
- Attend annual and other ad hoc meetings with the Center Board as requested in person or via video conference.
- Indicate full understanding of compliance with the Center’s Investment Policy.
- Ensure the portfolio structure matches Center objectives.
Investment of Funds
The firm(s) must effectively invest the Center’s funds, provide discretionary full-time portfolio management, and effectively invest the portfolio pursuant to the approved investment policy, the Center’s cash flow needs and the Center’s direction.
Written and Oral Reports
The firm(s) must provide a written report on a quarterly basis demonstrating the portfolio performance including information about the portfolio as described in the investment policy. The firm must also be available to make periodic written and oral reports to the Center’s Board.
Evaluation of Investment Policy
The firm(s) must annually assist in the review of the Center’s investment policy. The proposed changes to the investment policy will be presented in final draft form to the Chief Financial Officer and Chief Executive prior to submission to the Center’s Board.
Expectations
Investment practices and procedures must comply with Federal law and the Center’s written investment policy. This includes Title 31, Part 202 of the Code Federal Register. Investments shall be made consistent with Government Code Sections 16429.1 and/or 53601. The investment advisory firm will be expected to perform to the Prudent Expert Standard.
For complete details of RFP, please see attached document below.
Request for Information
All inquiries regarding requirements of this RFP should be directed to:
Mr. Scott A. Lewis
Chief Financial Officer
K'ima:w Medical Center
535 Airport Rd
Hoopa, CA 95546
Office: 530.625.4261, Ext. 0287
Email: scott.lewis [at] kimaw.org (scott[dot]lewis[at]kimaw[dot]org)