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RFP PROCESS FOR BANKING

Presented by:

Martin McConahay, District 39

Jackie Schimizzi, Consultant

Kimberly Feeney, Bank of America

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Agenda

Introduction of PresentersDefinition of a Request for

Proposal (RFP)Critical Issues RFP Process StepsDistrict #39 ExperienceQuestions & Answers

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Martin McConahay, Business Manager

Wilmette Public School District 39

Jackie Schimizzi, Consultant

Marketing and Treasury Services

Kimberly Feeney, Vice President

Bank of America

Presenters

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Request for Proposal - formal requestNeeds determined

Request for Qualifications – informal requestLooking at providers

Request for Information – informal requestWhat are our needs?Gathering of ideas

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What is a Request for Proposal (RFP)?

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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?

Critical RFP Issues to address

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What do we do today and what are our needs, today and in the future?Who are the stakeholders in the process?What is our timeline?What is our universe of providers?What is our response criteria?

Critical RFP Issues to address

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What do we do today - Information Gathering Account Analysis – current services Current System and Procedures Reporting and Audit Requirements

What are our needs – today and in the future? Problem Areas

Reporting and Audit Requirements Goal

• determine targeted needs• eliminate weaknesses

Create a list of requirements in banking services

What do we do today and what are our needs today and in the future?

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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?

Critical RFP Issues to address

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School DistrictFinance StaffBuilding Personnel

Board of Education Community

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Who are the Stakeholders in the Process?

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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?

Critical RFP Issues to address

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Establish a Realistic Timeline to include: Information Gathering and Analysis Phase Preparation and Issuing of RFP Bank Response Time Evaluate Responses/ Bank Selection Process School Board Meeting Schedule Implementation of Services

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What is our Timeline?

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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?

Critical RFP Issues to address

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Geographic Factors Board Policy Political Considerations Provider Capabilities

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What is our Universe of Providers?

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What do we do today and what are our needs, today and in the future? Who are the stakeholders in the process? What is our timeline? What is our universe of providers? What is our response criteria?

Critical RFP Issues to address

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Establish Clear and Measurable Criteria

Relevant to Your DistrictBank Criteria

• Local vs. Out-of-District

Quality Service Innovative ServicesCompetitive PricingReference Criteria

What is our Response Criteria?

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Write and Issue the RFP Evaluate the responsesAward the contract Implement the services

RFP Process Steps

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Write and Issue the RFP Evaluate the responsesAward the contract Implement the services

RFP Process Steps

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Be informative Provide detailed information State Objectives, selection criteria and timeline

Be interactive Schedule a Pre-bidder’s Conference, Allow for Questions Submission

Be Specific AFP questionnaire, References and Pricing

Adhere to governmental bidding requirements

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Writing and Issuing the RFP

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Write the RFP and issueEvaluate the responsesAward the contract Implement the services

RFP Process Steps

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Design Comparative Evaluation Matrix

Evaluating the Proposals

Bank A Bank B Bank C Bank D

Branch Location

>1 mile 1-2 miles 5 miles < 1 miles

Public Funds Specialist

yes no no yes

Total Fees

Balances

$1,040

975,000

$1,290

$1,129,500

$950

Not provided

$1,150

$1,325,00

Price Guarantee

2 years 3 years 3 years 2 years

Phoenix Hecht Ratings

B A-/B C B-

Understands Needs

A- B+ B A

Quality of RFP A- B A B-

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Evaluate and Summarize each Bank’s Response Analyze Pricing:

Rank Fee and Balance Compensation

Acknowledge One-time Set-up Fees/ Exception Items

Select Finalists Check references Schedule Presentations

• District to provide Agenda

Evaluating the Proposals (Cont.)

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Write the RFP and issueEvaluate the responsesAward the contract Implement the services

RFP Process Steps

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Unbiased DecisionData and process driven decision

• Data Collection• Deadlines• Evaluation Criteria

Present findings to your Board with recommendations Formal Board approval

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Awarding the Contract

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Write the RFP and issueEvaluate the responsesAward the contract Implement the services

RFP Process Steps

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Important step to ensure successMutually agreeable plan timelineReview and acceptance of servicesDedicated Team

District• Support from management

Bank Go-liveK

Implementing the Services

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Experience - Marty

Wilmette Public School District 39 – RFP Experience

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Questions

Thank you!