HomeMy WebLinkAboutRES 081302-N - Union State Bank City Depi . ♦ ! i i
i 9 KI Ky I D2 1.
SEPTEMBER 1, 2002.
WHEREAS, The City of Georgetown Texas, has published notice of its intention to select a
depository for City funds; and
WHEREAS, The City of Georgetown,Texas, has received and evaluated proposals for custody of City
funds; and
WHEREAS, the City of Georgetown, Texas, desires to select from those proposals received the
application offering the most favorable terms and conditions of handling the municipal funds; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution are hereby found
and declared to be true and correct, and are incorporated by reference herein and expressly made a part hereof,
as if copied verbatim. The City Council hereby finds that this resolution implements Finance Policy 14.00 of
the Century Plan - Policy Plan Element, which states: "All municipal operations are conducted in an efficient
business -like manner and sufficient financial resources for both current and future needs are provided "; and
further finds that the adoption of this resolution is not inconsistent or in conflict with any other Century Plan
Policies, as required by Section 2.03 of the Administrative Chapter of the Policy Plan.
SECTION 2. The Mayor is hereby authorized to execute, and the City Secretary to attest thereto an
agreement with Union State Bank to serve as City of Georgetown, Texas, Depository for an initial term of two
years beginning September 1, 2002 and ending August 31, 2004 with the option to renew the agreement
annually for up to three additional years.
SECTION 3. This resolution shall be effective immediately upon adoption.
RESOLVED this 13"' day of August 2002.
A THFf /7ITY O GEORGETOWN:
Sandra Lee 13y: G4 Nelon
City Secretary Mayor
APPROVED AS TO FORM:
A�n623�&��
Patricia E. Carls, Brown and Carls, LLP
City Attorney
Depository Resolution No. OF/302
Page 1 of 1
P:\ INVESTMENTS\ DEPOSITORY02\AGENDA\DEPRESOL .DOC
This Agreement is entered into the 13th day of August, 2002 by and between the City of
Georgetown, Texas (the "City") and First Texas Bank of Georgetown (The "Bank"), a
national banking association, to establish a depository for the City's funds. The parties
agree as follows:
Section 1: The City's Operating and Depository Accounts are hereby established at the
Bank which shall be an official depository bank of the City for the period beginning
September 1, 2002 and ending August 31, 2004. The Bank shall honor only those checks,
drafts, warrants, or written orders drawn on said Accounts signed by the Mayor and City
Manager of the City, or their written designees, as authorized by bank forms signed by the
Mayor and City Manager of the City.
Section 2: All designated signatures are authorized to sign any check, draft, warrant, or
written order which may be drawn on said Account. The City Secretary is hereby
authorized to certify to the Bank the genuineness of such signatures, any change in
authorized signatories, and the genuineness of the signatures of the new signatories, and
the Bank is authorized to accept and rely upon such certificates.
Section 3: The parties hereby agree to the terms provided for in the Request for Proposal
and First Texas Bank's Response to the Request for Proposal, attached as exhibits "A"
and "B". It is understood and agreed that when a conflict exists between the Request for
Proposal and First Texas Bank's Response to the Request for Proposal that the response
as submitted by First Texas Bank will prevail. It is understood that certain specifications
in the Request for Proposal were changed and/or bid differently by First Texas Bank.
Section 4: The Bank, as an official depository for the City, shall deposit with and pledge
to the City securities as provided under the laws of the State of Texas. Securities shall be
deposited and pledged in safekeeping by the Bank at such other reputable bank or banks
as may have safekeeping accounts for the Bank. A written schedule of the deposited and
pledged securities shall be furnished to the City by the Bank as requested by the City, and
the banks holding such deposited and pledged securities in safekeeping shall furnish the
City with appropriate safekeeping receipts. The Bank shall only of exchange or substitute
the Approved Securities deposited and pledged with written authorization of the City.
Section 5: The Bank shall faithfully perform all of the duties and obligations required by
the laws of the State of Texas for depositories of municipal funds, shall, upon presentation,
pay all checks duly authorized and drawn on it against funds of the City on demand
deposit, and upon termination of its designation as a depository of the City, shall promptly
turn over to its successor all funds, property, and things of value coming into its hands as
a depository of the City.
Depository Agreement 8/02 Page 1 of 2
Section 6: This Agreement shall be deemed and constructed to comply with the
applicable provisions and requirements of the laws of the State of Texas governing
depositories for public funds, and any part, section, or provision herein not complying
therewith shall be interpreted, applied, and executed so as to effectuate such compliance.
ATTEST:
C4144— z
�andra Lee
City Secretary
Patricia E. Carts, Brown & Carts, L.L.P.
City Attorney
(SEAL)
Accepted:
THE CITY OF GEORGETOWN:
At
M
TITLE:
Bank of Georgetown
Depository Agreement 8102 Page 2 of 2
1i
113 East 8th Street
P. 0. Box 409
Georgetown,
930-3676
IMEMOMAIM1021
A. Request for Proposal
The City of Georgetown (the "City") is seeking applications from eligible financial institutions
to be the banking service depository. This includes the basic services of receiving
deposits, paying items, sending wired funds, receiving wired funds, stop payments, and
other normal business banking activities. This agreement will not cover any investment
transaction activities other than safekeeping services to include receiving and delivering
securities, coupon collections, and maturity collections. The City plans to manage its own
investment portfolio per its Investment Policy (see Attachment A).
Financial institutions ("banks") desiring to respond to this RFP should bear in mind that the
City wishes to pursue an aggressive cash management and investment program. Further,
the City views maximized investment interest as a viable and material revenue to all funds.
The City's cash management policy shall be designed and managed in a manner
responsive to the public trust and consistent Wth State and local law.
This Request for Proposal, or "RFP" is intended to serve as the bid form for the depository
agreement. There are several schedules to complete and questions to be answered. The
depository contract shall be prepared based on the bidders response to the RFP. All points
outlined and materials requested should be incorporated into the bidder's reply to be
considered for evaluation. Attachments will be appropriate in order to provide some of the
requested information.
B. Contract Terms
The contract period will be for two (2) years beginning August 1, 2002 and ending July 31,
2004, or thereafter until a successor Financial Institution has been selected. The original
contract may be extended upon written agreement by both parties to do so, not to exceed
five (5) years upon which time a required request for services will be necessary. Should the
contract be extended, the original terms and conditions will apply, plus any approved
changes, and either party can terminate the contract if desired upon providing ninety (90)
days written notice to the other party.
Upon termination of this contract, all finished or unfinished documents or reports prepared
by the bank at the option of the City, will become the property of the City.
C. Objectives of the Proposal
At the outset, the City wishes to communicate the primary objectives of the depository RFP,
an important component of the overall cash management program of the City of
Georgetown:
1 To seek a bank capable of providing banking services and willing to be attentive and
responsive to the City's money matters;
2. To seek a bank which meets the legal qualifications and the terms and conditions
specified in this Request for Proposal;
3. To develop a foundation for a good working relationship with the depository bank;
and
4. To adequately compensate the depository bank for services provided.
C. Inquiries from Proposers
Questions regarding the following technical specifications may be directed to:
Micki Rundell, Director Finance & Administration, or
Laurie Brewer, Controller
City of Georgetown
P. O. Box 409
Georgetown, TX 78627
(512) 930-3676
ra
�1
Evaluation Process
Obtaining competitive proposals on the City's depository specifications is the responsibility
of the Director of Finance and Administration. The City shall carefully review the submitted
proposals. The recommendation to award the contract will be based on the proposal
determined to be in the best interest of the City and its citizens. The evaluation of the
proposals will be made based on the following criteria:
20 points • Ability to perform and provide the required and requested services.
Minimum • Ability to meet the legal qualifications and the terms and conditions specified
in the RFP.
15 points • Cost of banking services.
Minimum • Financial strength and stability of the proposer.
10 points • Effective rates paid on the City's bank accounts and earnings credit on
average available account balances.
10 points • Quality of all reports requested.
15 points • Securities clearance and safekeeping procedures.
15 points • Ability to provide the City with effective and innovative cash management
services.
15 points •
Experience and success in providing banking services to similar entities.
Minimum •
Completeness of the bid form and submission of the required information.
Minimum • Ability to provide sufficient collateral for deposits.
Review Committee
Your response to this RFP will be reviewed and evaluated by City staff including:
Director of Finance and Administration
Controller
Support Services Director
City Manager - Interim
City Attorney
The final selection will be made by the Georgetown City Council with advice and
recommendation from the Director of Finance and Administration.
RFP DEPOSITORY SERVICES MAY2002 Page 4
111111. CITY ACCOUNT INFORMATION
The City intends to initially establish the following bank accounts. Other accounts may be set up
as needed during the term of the contract.
Account Name:
1. Deposit
2. Operating Disbursement
3. Payroll Disbursement
4. Police Seizures
5. Police Forfeitures
Type:
Demand Deposit Account (Master Account)
Disbursement Account/Concentration
Zero Balance Account/Concentration
Deposit Account/Interest earning
Savings Account with ATM capability
Deposit Account - serves as the City's master account into which all deposits will be made and
which will fund the daily presentments to the operating disbursement account, and provide the daily
funding for the zero balance payroll account. This account will receive all the City's deposits,
including utility bill payments, including those received through ACH draft, user fees, court fines and
property taxes. During the three month period of February 2002 to April 2002, average monthly
deposits for this account were $3,500,000. Deposited items returned unpaid for NSF and other
reasons are charged back to this account. Charge back items average $4,800 per month.
Electronic funds transfers and investment security clearance and safekeeping activities are
processed through this account.
The bank must have the capability of receiving and sending wire transfers, ACH transfers and direct
deposits through this account. I will require daily balance reporting through a cash management
program which is user friendly and accessible via a personal computer.
Operatinq Account - will clear all operational checks for the City. An automatic transfer from the
Deposit Account will fund these disbursements and bring the balance back to zero. An average of
857 checks is issued monthly from this account. During the three month period of February 2002
to April 2002, average monthly disbursements through this account %ere $3,130,838.
The bank Will be required to notify the City each morning no later than 10:00 A.M. of the total amount
of checks clearing for that day. This notification should be made available via personal computer
access.
Payroll Account - will dear only personnel related checks for the City. An automatic transfer from
the Deposit Account to the Payroll Account will be used to fund checks and bring the balance back
to zero. The City has a bi-weekly payroll with an average of 385 employees representing a net
average monthly payroll of $714,000. The City offers Direct Deposit of payroll, which is utilized by
approximately 250 employees and represents a monthly average of $488,000. Direct deposit of
payroll is a bank service required by the City. A partial reconcilement service is required for this
account detailing check numbers, clearing dates and amounts.
RFP DEPOSITORY SERVICES MAY2002 Page 5
Police Seizures Account — The Georgetown Police department occasionally confiscates funds as
a result of investigations of criminal activity. These funds, by state law, are to be segregated in an
interest bearing account until the District Attorney releases those funds to the defendant, or assign
the funds to the City.
Police Forfeitures Account - When the District Attorney releases funds to the City after funds are
seized in investigations of criminal activity, the City may use the funds for future investigative
purposes. This fund gives the Police Department the capability to draw funds through an automated
teller machine to be used in investigations. Security of the ATM card, the PIN number, reporting and
other internal requirements are the responsibilityof the City.
The City reserves the right to open or close any number or type of accounts as it deems necessary
through the term of the Depository Services Contract. Any services not listed, but later requested
by the City, will be charged for a mutually agreed upon fee. Fees bid are fixed for the entire contract
period.
RFP DEPOSITORY SERVICES MAY2002 Page 6
IV. BANKING SERVICES AND REQUIREMENTS
A. General Description of Services
Bank services to be provided are listed on the Bid Form, along with estimated monthly
volumes. The following identifies and discusses the services to be provided and the
requirements to be met Please attach copies of reports and separate agreements that apply
to each service, if applicable.
To maximize control and investment opportunities the City requires a personal computer
("PC") on-line reporting system which will provide the daily ending ledger and collected
balances from the prior day for all accounts, a detail of the prior days debits and credits,
current day disbursements including check numbers, and current day ACH. This information
should be available by 10:00 A.M. The system shall also allow on-line intra-bank transfers,
ACH and WIRE TRANSFER origination instruction processes with user defined security
requirements.
2. Process of all deposited items of checks and cash to include encoding services, same day
credit for deposits presented during business hours, clearing returned items twice, and
return of stamped duplicate deposit slips to the City within one business day of the deposit.
The bank will notify the City as soon as possible for any deposit adjustments. The bank will
fax a copy of deposit adjustment, including supporting detail, to the Cityprior to posting.
3. The City offers its employees an automatic payroll deposit service. The City will fumish a
NACHA compatible file, which is transferred to the bank Via software, provided by the bank.
4. The City offers a direct debit payment system for utilities charges. Approximately 1,300
customers use this payment method, and 10 to 15 customers are added each month. The
direct deposit service accounts for approximately $171,000 monthly.
5. General wire transfer and ACH services shall include a customer direct-link to allow initiation
of wire transfers and ACH transfers via PC.
6. Account reconcilement services:
Bank statements on all accounts shall be available within five (5) working days after the
close of the calendar month. Statements shall include transaction activity made on the last
day of the period. The bank will fumish imaged copies of checks and deposits in numerical
order for all accounts. The bank statement for the Deposit Account will include a listing of
miscellaneous debits and credits, which are balanced to the bank statement (partial account
reconciliation). For both the Operating Disbursement and Payroll Accounts, the City requires
a report reflecting all items paid in serial sequence which is balanced to the bank statement
(partial account reconciliation).
The City would prefer that achieved canceled checks and bank statements be furnished on
CD-ROM.
7. Positive Pay:
To enhance the City's and the bank's ability to work together to detect check fraud, the City
will prepare a formatted checks issued data file (including check number, amount and date)
RFP DEPOSITORY SERVICES MAY2002 Page 7
and will transmit this information to the bank. Stop payments, voided checks and manual
checks will also be included on the formatted checks issued file. The bank will compare
checks received for payment against the record of all issued checks. The bank will identify
items that do not match the issue amount and check number. The bank will then present
the rejected items to the Cityfor its consideration for payment.
8. Account Analysis Statements:
The City intends to pay for all account services provided by the bank and set forth on the Bid
Form. The City shall require account analysis each month with all accounts grouped to
obtain maximum credit for balances which shall clearly show volume counts, fees charged
and total prices for servicing accounts. The account analysis shall also show average ledger
balances, average collected balances, interest rates, and earnings credit calculations.
(Please attach a sample account analysis statement.)
Safekeeping fees for the City's investments shall also be set up on account analysis and
paid monthly. The City requires that all charges for securities clearance and safekeeping,
including fees passed on from the Federal Reserve Bank, be on account analysis and not
be deducted from each security settlement.
9. Investments:
The City of Georgetown intends to manage its own investment portfolio. Therefore, the City
reserves the right to withdraw, from time to time, any amount of City funds on deposit in any
City account and invest those fund in accordance with the City's investment policy.
10. Securities Clearance and Safekeeping of City Investment Securities:
Investment securities purchased by the City will be delivered either by book entry at the
Federal Reserve or physical delivery to the depository bank's correspondent New York bank
as outlined below:
The purchase of all securities shall be on a delivery versus payment basis. Monies
will not be released by the City's safekeeping bank until securities are received at the
Federal Reserve Bank or further credit to the City's safekeeping bank. In this
manner, the City will always have possession of either its securities or its monies.
• The City will send written instructions to the securities clearance department for each
transaction. The City expects the bank to give prompt notification of any settlement
problems regarding the transaction. The bank will then notify the Director of Finance
and Administration via E-mail, confirming the completion of the securities
transaction.
All securities will be perfected in the name of the City of Georgetown. The bank will
forward a copy of the Federal Reserve safekeeping receipt of investments to the
City, evidencing the securities being held.
The bank will also provide a monthly listing of all securities held in safekeeping on
behalf of the City.
RFP DEPOSITORY SERVICES MAY2002 Page 8
B. Collateral Requirements
1. Depository Pledge Agreement
As security for the deposits of the City, the bank shall pledge to the City securities
equal to JQ5% of their market or par value, whichever is lower, of the largest total
balances the City maintains in the bank, less the amount provided by the Federal
Deposit Insurance Corporation (FDIC). These aggregate balances are estimated not
to exceed $4,000,000. This Pledge shall be evidenced by a separate Depository
Pledge Agreement in accordance with the requirements of State and Federal Law.
Please attach a copy of the bank's Depository Pledge Agreement. The
securities comp(rsing of the pledge shall be Calculated using market value or book
value whichever is lower. The securities pledged shall satisfy statutory requirements
and the Citys Investment Policy.
Release of Collateral - No collateral will be withdrawn, released or
substituted without the prior written consent of the City's Director of Finance
and Administration. The City will release collateral only if it is satisfied that
such collateral is not needed as securityfor the City's deposits.
2. Third Party Safekeeping - Original safekeeping receipts from the third party
trustee/custodial Financial Institution for all securities pledged to City pursuant to
Depository Agreement will be provided to the City. It is understood and agreed upon
that the City will have a first and prior lien upon all securities which are pledged to
City.
Safekeeping Receipts - In order to colateralize additional City deposits in
excess of collateral then pledged to City, original safekeeping receipt (see
above) and the market value of additional securities pledged to City shall be
provided to the City within five business days of such additional deposit.
Monthly Report - A monthly listing of all securities pledged to City showing
complete security description, face value, market value and safekeeping
receipt number is required; such listing to be provided no later than five
business days following the thirtieth of each month.
• Certification and Delivery of Collateral - In accordance with State law, the
Board of Directors of the selected Depository Bank will be required to provide
a resolution of certification approving the commitment and delivery of the
collateral to the safekeeping institution not later than five days before the
commencement of the contract period.
C. Direct Fees for Services Provided
The City desires an equitable reimbursement arrangement for the banking services
provided. A direct fee basis for services provided by the bank with an offsetting earning
credit for available balances is the method preferred by the City. Therefore, the monthly
account analysis will be considered an invoice and monitored accordingly. The bank will
calculate the total monthly service costs for all accounts and the total monthly earnings credit
for all accounts on the account analysis statement. Credit should be given the City for all
account balances grouped together and not just single account balances. A detailed
explanation should be attached to the Bid Form explaining the bank's proposed method for
RFP DEPOSITORY SERVICES MAY2002 Page 9
compensating the City for balances maintained. If the City discovers it has been
overcharged after payment has been rendered, the Citywill be reimbursed.
It is the City's intent that the Bid Form reflects all the services and prices for which the bank
will expect payment. It is understood that volumes indicated are estimates and that actual
volumes will vary from month to month. Should the City request a service or services not
presently included on the Form, it is agreed that the bank's unit price Wl be no more than
the price appearing on its most recently published price for cash management services.
D. Funds Transfer Requirements
The depository shall give both ledger and collected credit the day of receipt for incoming wire
transfers, regardless of the time the bank receives the transfer through the Fedwire system.
Credit to City accounts for incoming wire transfers should be immediate. The depository
shall allow the City to wire funds out in anticipation of an incoming wire transfer later in the
day.
E. Overdrafts
The City does not intend to have an overdraft position on any of its bank accounts singly or
net throughout the course of the depository contract. In the event a check or checks are
presented for payment on any City account With insufficient funds available for payment, the
City Will require the bank to pay said check and promptly notify the Director of Finance or the
City's designated representative of the existence of the overdraft situation. The City agrees
to cover the overdraft Within a maximum of one business day..
Define in the Bid Form Mat the bank considers an overdraft to a negative balance in any
individual City account or a negative balance in all City accounts collectively. The City would
expect the depository to view all City accounts together for purposes of charges on
overdrawn collected balances.
F. Other Stipulations
1. The successful bidder shall notify the City in writing within ten (10) days of any
changes in federal or state regulations or laws that would affect the depository
agreement. The bank shall also notify the City of any services which become
available to the City throughout the contract period.
2. The City reserves the right to negotiate all elements which comprise the proposal to
ensure that the best possible consideration be afforded all concerned. The City
reserves the right to reject any and all proposals and to re-solicit for proposals in
such event.
3. All checks deposited by the City which do not clear the first time, should be submitted
a second time before returning them to the City.
4. The bank's records relating to the City of Georgetown's accounts shall be open to
review by either City staff or City appointed independent auditors during normal
business hours.
RFP DEPOSITORY SERVICES MAY2002 Page 10
5. The proposing bank shall submit a copy of the last annual financial statements along
with the last two quarterly FDIC CALL reports, and provide any public information
concerning changes in the ownership, management or financial position of the bank
or its parent holding company.
6. Notwithstanding any other provision of this agreement which may be to the contrary,
this agreement and the respective rights and obligations of the parties shall remain
in full force and not otherwise be affected by the merger of the proposing bank.
7. The contract shall be automatically extended up to 60 days if the City is actively
proceeding with re-bidding procedures but for whatever reason, cannot finalize the
selection process by the end of the contract period.
8. The City shall require a review meeting with the bank officer at least once every six
months to evaluate the working relationship between the City and the depository
bank and address any problems that may arise.
9. The depository contract must be approved either by the depository's board of
directors or a designated committee in compliance with the Financial Institutions
Reform, Recovery and Enforcement Act of 1988.
RFP DEPOSITORY SERVICES MAY2002 Page 11
V. BIDDING INSTRUCTIONS/REQUIRMENTS
Proposals should be returned in sufficient time so as to be received on or before:
It is the bank's responsibility to ensure that it has received any and all addenda related to the
proposal. It shall be the sole responsibility of the respondent to ensure that its proposal is received
by the Purchasing Office within the time limit indicated. The proposal must include a statement that
it is valid for a minimum period of 90 days subsequent to June 27, 2002. Late proposals will not
be considered.
A. Response Instructions
Five copies of the proposal should be returned in a sealed envelope bearing the name and
address of the respondent. The envelope should be plainly marked "Bank Depository RFP".
The proposal may be mailed or hand delivered as follows:
If mailing,
use this address:
City of Georgetown
Purchasing Office
P. O. Box 409
Georgetown, TX 78627
B. Required Sections
If hand delivered,
use this address:
City of Georgetown
Purchasing Office
113 E. 8th Street
Georgetown, TX 78626
Proposals must be submitted containing the following sections in the order indicated:
1) Cover Letter
2) References
3) Additional Data and Other Requested Information
4) Bid Form
1. Cover Letter - This section should contain the name of the proposing Financial
Institution, the address of the proposing office, and the individuals authorized to
answer technical, price, and/or contract questions together with their telephone
numbers and mailing addresses. The cover letter must also be signed by a person
authorized to bind the Financial Institution.
2. References - Indicate the bank's background in providing financial services to public
organizations. List any financial services contracts currently in place. Provide a list
of client references using the bank's services. Include client name, contact persons,
and phone numbers.
3. Additional Data and Other Requested Information - Give any additional
information considered essential to the proposal in this section. Alternative
proposals which you feel may benefit the parties may also be advanced. Include any
requested examples of schedules or reports.
RFP DEPOSITORY SERVICES MAY2002 Page 12
4. Bid Form - The City contemplates a price per item fee proposal with monthly
payments for services rendered.
The compensation proposal should be documented by completing the attached "Bid
Form" and submitting it to the City with the RFP. It is intended that the "Bid Form"
include all of the unit prices for services requested. All volumes indicated are
estimates. The contract award will not necessarily be made to the bank that
provides the lowest cost proposal but rather to the firm that submits the most
responsive proposal meeting the Citys requirements.
In addition, the bank should include as a part of the total price the cost of any
services not itemized on the "Bid Form" which the bank feels must be included. The
bank may also include the billing rate for special projects which may be entered into
during the contract period but are not a part of the total cost proposal. Volume
discount prices may be indicated where appropriate.
C. Other Information
1 The City reserves the right to request additional information or to meet with
representatives from proposing banks to discuss points in the proposal before and
after submission, any and all of which may be used in forming a recommendation.
2. The City may require a demonstration of the PC on-line reporting system to evaluate
its capabilities.
3. The final appointment of a depository bank shall be made by the City of Georgetown
City Council. The bidder may be required to enter into a contract which incorporates
all of the obligatory points in this RFP. Otherwise, an ordinance shall be adopted
accepting the bank's completed RFP as the OFFICIAL BID FORM with
accompanying related schedules and materials called for in this RFP.
4. Upon being awarded the contract, the depository bank shall designate an individual
to be the official contact person for all correspondence. The City of Georgetown's
official contact person shall be Ms. Laurie Brewer, Controller. The bank shall be
responsible for training and communicating the terms of this contract to bank
employees.
5. This RFP has been reviewed and approved by the Director of Finance and
Administration for the City of Georgetown.
RFP DEPOSITORY SERVICES MAY2002 Page 13
Submission Checklist
1. Cover Letter
2. Reference Listing
3. Completed BID FORM
4. Samples of the following:
® Bank statements
0 Reports from Cash Management System/Software
® Partial account reconciliation statement
® Safekeeping agreement for the City's investment securities
® Monthly pledged collateral report
0 Safekeeping agreement for collateral
® Controlled disbursement agreement
a Funds transfer and ACH transaction agreements
® Stop payment agreement
5. Availability of funds explanation with clear deadlines indicated
6. Annual financial statement of the bank along with the last two quarterly FDIC CALL
reports
RFP DEPOSITORY SERVICES MAY2002 Page 14
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CITY OF GEORGETOWN
Depository Services - Evaluation Worksheet
P:\ investments\ depository02 1evaluationl[rfpcomp.xtw]A
Financial Institution Name
Compass Regions Union State Wells Fargo
MANDATORY ELEMENTS - Section 1
1.01 Completeness of bid form and submission of
Yes
No
Yes
Yes
required information
1.02 Ability to provide sufficient collateral for deposits
Yes
Yes
Yes
Yes
1.03 Financial strength and stability of the proposer
Yes
Yes
Yes
Yes
1.04 Ability to meet the legal qualifications and terms and
conditions speed
Yes
Yes
Yes
Yes
1.05 Located within City Limits (State Law)
Yes
Yes
Yes
Yes
TECHNICAL REQUIREMENTS - Section 2
(75 Total Points)
2.01 Provide required /requested services (20)
a. Ability to generate ACH & wire transfers on -line
3
3
3
3
b. Same day credit for deposits
3
3
3
3
c. Ability to accept and process NACHA compatile files
3
3
3
3
including PR and Utility drafts
d. Account reconcilement services
3
3
3
3
e. Account Analysis statements
2
2
2
2
f. Achieved canceled checks and bank statements on
3
3
3
3
CD Rom
g. Positive pay
3
3
3
3
2.02 Quality of all reports requested. (10)
a. Account Analysis reports
2
2
2
2
b. Account reconciiment reports
3
0
3
2
c. Cash management system reports.
3
0
3
2
d. Safekeeping and collateral reports.
2
0
2
2
2.03 Securities Clearance and safekeeping procedures (15)
13
0
14
14
2.04 Cash Management services (15)
14
10
14
14
2.05 Experience and success with other similar entities (15)
10
8
15
10
SUBTOTAL POINTS
67
40
73
66
COST FEE ESTIMATE - Section 3
(25 Total Points)
3.01 Cost of Banking Services (15)
9
12
13
9
3.02 Effective rates paid on City accounts and earnings credit
on average available balances (5)
3
3
3
3
3.03 Other cost related information (5)
2
3
3
2
TOTAL POINTS
1 81
1 58
1 92
80
No bid recieved from:
Bank of America
Guaranty Federal Bank
Central National Bank