NEW HOPE, PA – The Delaware River Joint Toll Bridge Commission today announced the recent approval of an agreement designating Stoneridge PMG Advisors as the agency’s Investment Management Consultant.

Under the agreement, Stoneridge will assist the Commission in managing its portfolio of investments and investible cash, as governed by the agency’s bond covenants and investment policy.  The work will involve consulting, analysis and market execution of investment transactions.  The largest applicable funds and accounts include the 2017 Construction Fund (Scudder Falls Bridge Replacement Project), the General Reserve Fund and several Debt Service Reserve Funds maintained in connection with Commission bond issues.

The funds are to be managed and directed in a manner that ensures the safety of principal, liquidity, and yield — with designated Commission personnel approving any recommended transactions prior to execution.

Stoneridge was selected to provide the professional services as the result of a competitive procurement process that started with the issuance of a Request for Proposals in early March.  The process ended with Stoneridge being formally designated as the Commission’s general investment consultant at the body’s July 30 meeting in New Hope, PA.

Stoneridge will perform the various consulting services listed in the RFP from its offices in Radnor, PA.  The firm qualifies as an Identified Business Enterprise (IBE) under the Commission’s Contract Compliance Program.  The contract is for three years, with two optional one-year extensions.

About The Commission

The Delaware River Joint Toll Bridge Commission was formed by the Commonwealth of Pennsylvania and the State of New Jersey in 1934. It operates eight toll bridges and 12 toll-supported bridges, two of which are pedestrian-only spans.  (Note:  The first completed span of the new Scudder Falls (I-295) Toll Bridge opened to traffic during overnight hours on July 9, 2019.) The Commission is a self-supporting public-service agency that receives neither federal nor state tax dollars to finance its projects or operations. Funding for the operations, maintenance and upkeep of its bridges and related transportation facilities is solely derived from revenues collected at its toll bridges. The Commission’s jurisdiction extends along the Delaware River from the Philadelphia-Bucks County line north to the New Jersey/New York border. The bridges carried more than 139.2 million cars and trucks in 2018. For more information about the Commission and its various initiatives to deliver safer and more convenient bridge travel for its customers, please see: www.drjtbc.org.

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