FINANCIAL_SERVICESAPPROVED

City of Hemet Awards Financial Services Contract to Bank of New York (July 2026)

The City of Hemet approved transferring $15 million from CalTRUST and California CLASS into Bank of New York 1–3 year and 1–5 year investment accounts. The move shifts a portion of liquid holdings into longer-term managed portfolios.

Status
APPROVED
Document date
July 30, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Bank of New York
Agency
City of Hemet · CA

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TerraCycle logo
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WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$15,000,000 transfer for investment ($9,000,000 to 1-3 year account; $6,000,000 to 1-5 year account)
Contract type
FINANCIAL_SERVICES
Contract term
1-3 year and 1-5 year investment portfolios (longer-term)
Renewal
Investments are placed in 1–3 year and 1–5 year portfolios and will roll or be repositioned per future committee direction; no explicit automatic renewal language provided.
Document type
AgendaPacket
Source document
City of Hemet Investment Oversight Committee Agenda Packet 2026-07-30

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Hemet?

Bank of New York was awarded this financial services contract by City of Hemet, as recorded on July 30, 2026. The contract value is $15,000,000 transfer for investment ($9,000,000 to 1-3 year account; $6,000,000 to 1-5 year account).

How much is the Bank of New York contract with City of Hemet worth?

The Bank of New York contract with City of Hemet is valued at $15,000,000 transfer for investment ($9,000,000 to 1-3 year account; $6,000,000 to 1-5 year account), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in City of Hemet Investment Oversight Committee Agenda Packet 2026-07-30 (AgendaPacket), dated July 30, 2026 from City of Hemet. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bank of New York hold?

Bank of New York may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is City of Hemet currently buying?

Explore City of Hemet's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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