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HomeMy WebLinkAboutRFP - P1039 BANKING SERVICES (2)Administrative Services Purchasing Divison 215 North Mason Street y 2nd Floor y P.O. Box 580 y Fort Collins, CO 80522-0580 y (970) 221-6775 y Fax (970) 221-6707 www.fcgov.com ADDENDUM No. 1 SPECIFICATIONS AND CONTRACT DOCUMENTS Description of RFP: P1039 Banking Services OPENING DATE: 3:00 P.M. (Our Clock) September 18, 2006 To all prospective bidders under the specifications and contract documents described above, the following changes are hereby made. Questions and Answers 1) Do we have a list of drop box locations? Drop boxes are currently serviced by city personnel and will not be part of the listed armored car services. 2) Are sales tax payments currently processed through a retail or wholesale lockbox? Do the payments get returned to the Bank with a scannable coupon? If they do not have a scannable coupon and are processed in a wholesale environment would you prefer to receive all of the back up in paper format or online as images? Tax payments are made to a wholesale lockbox. The coupon is not scannable and the paper document is returned to the city. 3) How many items in the utility lockbox come back as a check only? How many match the coupon amount? How many have multiple checks per coupon? Approximately 29 thousand items are processed monthly with approximately 5% being returned to the city for various reasons (i.e. dollar amt does not match, no signature, etc.) 4) Are you currently using a true Controlled Disbursement account today? It is listed on your fee schedule. If not, are you interested in using a remote disbursement point to issue your Accounts Payable checks? Yes, we do have controlled disbursement. No, we are not interested in using a remote disbursement point. 5) How much cash do you deposit on a monthly basis? Do you deposit coin? Still researching the answer. 6) Do you have the need for change orders? If so, how much cash and coin do you order per month? How many orders do you have per month? Approximately 2k per week in various bill and coin denominations. 7) Are you open to having the payroll, accounts payable and insurance accounts set up as zero balance accounts (zba)? Yes, this is an option that we may decide to use. 8) Do you prefer a partial or a full account reconciliation with your positive pay on your disbursement accounts? Full account reconciliation. 9) What type of EDI services are you using today? Positive Pay file and utility lockbox file. 10) Page 6 – Could we receive clarification of the $2 billion total asset requirement? May the assets of the holding company be included? Assets of the holding company may be included. 11) Page 6 – The reference indicates the contract would begin January 1,2006, we assume this should be January 1, 2007 January 1, 2007 is the correct start date. 12) Page 7 –The inquiry response is designated as September 12, 2006. Can this date be expedited? All questions submitted by September 8th will be answered on or before September 12th 13) Page 9 – Are the Bank call reports acceptable for audited financial statements? If call reports are not acceptable, will consolidated holding company financials be accepted? Consolidated holding company financials are acceptable. 14) Page 9 – Do we need a copy of the financials bound separately in each package? A single set of audited financials is acceptable for the 7 copies of the proposal package. 15) Page 11 – Section E Contract Negotiation- paragraph 6 third line, word “issued”, should this be “insured”? Yes. 16) Page 13 – Disaster Recovery- Most banks are not willing to share this- could this be a plan reviewed with City staff on a verbal level? An overview of the plan would be acceptable. Specific details may be requested from finalists to this RFP. Verbal responses from finalists are acceptable. 17) Page 18 – Performance indicators – This is a very comprehensive report. Are there particular indicators you are looking for? A summary of overall performance is acceptable for this requirement. Only indicators that are relevant to the services in this proposal are necessary. 18) Smart Trips is listed, will this be a permanent stop? A stop for Smart Trips is currently included although changes to include or delete stops will be made as necessary. 19) Is a stop needed at the Youth Activity Center? A stop is not currently included although changes to include or delete stops will be made as necessary. 20) What size of balances does the City keep in the accounts to offset monthly service fees? Average balances range from 0 to as much as 2 million depending on the account and the activity for the month. 21) Could you provide a copy of the most recent "monthly" analysis statement, in order to provide more specific "monthly volumes", for services? See attachment for a consolidated account analysis statement for July 2006. 22) Is it the City's position that a bank that is not offering Lockbox Services will be eliminated from this bidding process? Other lockbox services will be considered. However, the City must have a Fort Collins lock box address for Utility Bill payments. We would prefer the same for sale tax/use payments but would consider other addresses for these payments only. 23) What are the City’s financial systems? JD Edwards, Banner 24) What are the balances maintained in the interest bearing accounts? 0 to 2,000,000 depending on account activity 25) What are the balances maintained in the non-interest bearing accounts? 0 to 600,000 depending on account activity 26) The RFP details eight accounts but the pricing form shows 13 accounts. Can you please explain the purposes of the additional accounts? Grant and bond accounts 27) Would City of Fort Collins consider using a Denver address for the lockbox items? The City must have a Fort Collins lock box address for Utility Bill payments. We would prefer the same for sale tax/use payments but would consider other addresses for these payments only. 28) Is the city considering the possibility of awarding banking services detailed in the RFP to more than one banking provider? No 29) What computer systems does the City use for accounts receivable. Payroll and accounts payable? JD Edwards 30) Who is the current provider for armored car services? Northern Armored and Loomis Fargo 31) Please provide your check specifications. Included in attachment B section A of the RFP 32) The City receives CD-ROM for cleared checks. On the pricing form there is a line item for check sorting. Does the City receive the original checks back as well as receiving CD-ROM? The original paper checks are not returned. The images are also available on-line. 33) Please detail the composition of the cash deposited by the City. Also detail currency and change orders placed by the City. Change orders range from 1k to 4k to cover petty cash. Bill and coin denominations vary. 34) Page 19 C and D - Please provide examples of C and D C: To cover a short daily or weekly cash position by the city. This may include allowing a temporary overdraft position. D: Typically the city’s Treasury Department would handle such a request but occasionally a situation my dictate that a 3rd party source be used for financing for a departmental project. 35) Please provide a copy of the City’s Investment Policy Investments are not part of this proposal bid 36) Do you have separate boxes for Utility Payments and Sales and Use Taxes? Yes 37) Are the remittance documents scannable or are they data keyed? No. The data is keyed. 38) Can you provide samples of your remittance documents and envelopes? See attached lock box instruction for example of coupon. 39) Are the volumes cyclical? Utility bills twice a month and sales taxes are due the 20th of the month 40) Are there peaks in the volumes? Peaks occur around billing due dates 41) Are there any special sort requirements? See lockbox instructions attached 42) Can you provide a sample file layout? File is a customized format that works with the utility department platform. 43) What percentage of the payments received are multiples? Not Tracked 44) Can we process multiples? No 45) What percentage of payments are not balanced - checks paying different amount than on the remittance coupon? Included as part of a 5% total return rate; I do not have a specific percentage 46) Can we process payments that are not balanced? No 47) What percentage of payments received are returned unprocessed? 5% 48) Will image services be required? Yes 49) What items will be imaged? (checks, documents, correspondence) All 50) How long will imaged items be required to be archived on-line? Currently not using on-line imaging for lockbox 51) Will you require more than 1 transmission per day? No 52) Will cash be received in the lockbox? No 53) Do you accept credit card payments in the lockbox? No 54) Can you provide a copy of your current processing instructions? See lockbox instructions attached 55) Please clarify what “describe the process requirement for the city or the bank to amend procedures” means What is the notification requirement for both the bank and the city for procedure changes to current services 56) The checklist on page 24 of the RFP lists an “Account Analysis form”…please describe what the City would like us to provide. Sample of account analysis form 57) Would the City like to receive a proposal for credit card merchant services? Credit card processing will be bid under a separate RFP. 58) According to RFP XII-B-4 Lockbox Processing, payment stubs must have a Ft Collins PO Box. To reduce mail and processing 'float', would the City consider opening a PO Box in Albuquerque for the receipt of the mail-in utility and sales tax/use payments? The City must have a Fort Collins lock box address for Utility Bill payments. We would prefer the same for sale tax/use payments but would consider other addresses for these payments only. Please contact James B. O'Neill, II, CPPO, FNIGP at (970) 221-6779 with any questions regarding this addendum. RECEIPT OF THIS ADDENDUM MUST BE ACKNOWLEDGED BY A WRITTEN STATEMENT ENCLOSED WITH THE BID/QUOTE STATING THAT THIS ADDENDUM HAS BEEN RECEIVED.