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CREATING A GREAT BANKING RFPGovernment Perspective
SEAN POLLAND, CFA TREASURY MANAGERORANGE COUNTY COMPTROLLER’S OFFICE
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Agenda Project Timetable Establish Committee Write RFP Issue & Advertise Preproposal Conference Evaluation and Selection
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Project Timetable
06/30/09Current Contract Expires03/30/09Negotiate Contract/Implementation03/27/09Submit to Board02/28/09Evaluate Responses/Recommendation02/21/09RFP Responses Due02/07/09Pre-proposal Conference01/21/09Issue RFP/Advertise01/19/09Finalize RFP Document01/08/09Establish RFP CommitteeDeadlineTask
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Establish RFP Committee
Committee Chair Cash Manager Fiscal Administration Accounting Others
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Writing RFP
Objectives Scope of Services Terms and Conditions Proposal Instructions
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Objectives Sealed proposals from qualifying banks to
provide comprehensive banking services.
To enter into a contract for all requested services from one bank.
Range of services shall include collection and deposit, concentration and disbursement, and balance compensation/investment services.
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Scope of Services Contract period Bank qualifications Contract structure Account structure Collection and deposit services Concentration and disbursement services Account maintenance Account analysis Balance compensation Other services
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Contract Period
Term of contract Optional renewals Timetable of transition, conversion
and implementation of operations
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Bank Qualifications
QPD – Chapter 280, FL Statutes
Bank financial strength
Geographic proximity
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Contract Structure
Master banking and treasury management agreement
Supplemental agreements: Wire transfer agreement ACH service agreement Cash vault service agreement Lockbox agreements Winning proposal shall become an integral part of master agreement
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Account Structure Number of bank accounts Collection and deposit accounts
Pooled accounts Enterprise funds ACH and fedwire receipts Construction, P&I and bond reserves
Concentration and disbursement accounts Check clearing (payroll, general and other) EFT disbursements
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Collection and Deposit Services
Funds availability Ledger cutoff time Deposit deadlines Collected balances: ACH, wires, “on us”
checks ACH and wire transfers Returned items Merchant services Wholesale and retail lockbox
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Merchant Services Transactions
Card not present/Retail211,745$17,007,979Public Utilities
Card not present/Retail27,476$805,682Solid Waste
Card not present/Retail323$32,210Mandatory Refuse
Card not present33$8,365Great Oaks Village
Card not present/Retail1,032$142,073Fire Rescue Service
Card not present/Retail26,315$5,559,723Convention Center
Retail22,608$203,733Convention Ctr Parking
Card not present/Retail607$139,833Community Corrections
Card not present/Retail1,210$49,908Cashier’s Office
Card not present/Retail12,421$5,819,766Building Division
Card not present/Retail2,928$130,125Animal Services
Processing ModeTransactionsSalesMerchant
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Lockbox Specifications
By 2:00 P.M.Deposit Processing
SpecificationsService
Fax of deposit summaryElectronic Reporting
CDEnvelopes/Stubs/Check Copies
Forward to CountyForeign Items
AcceptCash
Use scriptDifferent Amounts
Forward to CountyStale Dated Items
Accept if less than 2 daysPostdated Items
AcceptUndated Items
AllAcceptable Payee
By 9:00 A.M.Pickup Time
By BankBox Collection
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Concentration & Disbursement Services
Fraud Control ACH block ACH control
Positive pay services Check reconciliation Stop payment Wire transfers
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Account Maintenance Electronic banking
Windows NT/XP Professional Environment Explorer 7.0 or later 128-bit encryption technology
Account analysis statement Earnings credit
Interest earning DDA Now account Overnight repo Money market mutual fund
Monthly statements Overdrafts – Daylight and overnight
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Account Analysis Monthly account analysis statement
Services rendered Service volume Unit costs Compensation (direct payment or debit) Services and supplies not included in
proposal shall be provided free of charge
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Balance Compensation Earnings credit
Average collected balance Net of reserve requirement Gross of reserve requirement
Credit rate Spread on reference rate (i.e., fed funds) Minimum credit rate
Request a sample earnings calculation
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Sample ECR Calculation
$31,630Earnings credit
0.1699% 31/365 Applied to December
2% Earnings credit rate (e.g., fed funds)
18,620,617 Net collected balance
2,068,957 Reserve requirement @ 10%
$20,689,575 Average monthly collected balance
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Other Services
Cash vault Workplace banking Imaging services Relationship management Privacy
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Terms & Conditions Require use of response forms Number of copies Sealed proposals by deadline Lobbying blackout Proposal opening Cancellation or postponement Corrections Acceptance and withdrawals Evaluation Award Protest M/WBE ordinance Litigation statement Drug-free workplace
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Response Forms Bank Information Response Form Objectives and Scope of Services Pro forma Account Analysis Proposer’s Warranty Employment Data, Schedule of Minorities and Women Schedule of Subcontracting – M/WBE Participation Conflict/Non-Conflict of Interest Statement and
Litigation Statement Drug-Free Workplace Form
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Required Attachments to RFP Implementation schedule Evidence of QPD status Evidence of status as a top 50 bank Map of branch locations; cash vault confirmation Deposit deadline schedules Funds availability schedule; float computation Pro forma agreements Earnings credit calculation Names & vitae of bank officers Bank privacy policy Prospective service described Audited financial statements for past two years Bank references Bank exceptions
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Issue RFP & Advertise
Issue to all qualified banks in area Advertise in local newspaper Post RFP on website
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REQUEST FOR PROPOSALSFOR
COMPREHENSIVE BANKING SERVICESThe Orange County Comptroller (Comptroller) requests sealed proposals from qualifying banks to provide the Orange County Board of County Commissioners and her office (together as County) comprehensive banking and treasury management services. The County will enter into a contract for all requested services with a single bank.The range of services includes collection and deposits, concentration and disbursement, account maintenance, and overnight investment services. The Comptroller issues this RFP in her capacity as chief financial officer of the County.A mandatory preproposal conference for proposers is scheduled Wednesday, February 7, 2009, at 2:00 PM, at the Orange County Administration Center, 201 S. Rosalind Avenue, Orlando, Florida in the Comptroller’s Conference Room A; located on the 4th Floor. Interested bidders must attend.Sealed proposals must be received in the office of the Clerk of the Board of County Commissioners, Orange County Administration Center, 201 S. Rosalind Avenue, 4th Floor, Orlando, Florida 32801, no later than 4:00 PM, Wednesday, February 21, 2007. For further information or a copy of the RFP, contact Sean Polland at 407-836-5755.
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Pre-proposal Conference At least two weeks prior to proposal
due date Request confirmation of attendance Provide opportunity to ask questions Receive clarifications from procurement
committee Communication blackout period after
conference
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Evaluation Sample award criteria:
Service capability: 25% Quality: 25% Cost: 40% Compliance with M/WBE: 10%
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Selection/Implementation
Committee selects bank Recommend to Comptroller/Clerk Board approval Begin implementation
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Sean Polland, CFA Treasury ManagerOrange County Comptroller’s Office201 S. Rosalind Avenue, 4th FloorOrlando, Florida 32801Phone: 407-836-5755Fax: 407-836-5753E-mail: [email protected]