HomeMy WebLinkAboutAddenda - RFP - P772 BANKING SERVICESi
Admitastrative Services
Purchasing Division
City of Fort Collins CITY OF FORT COLLINS
ADDENDUM No. 1
September 11, 2000
PROPOSAL # P-772
BANKING SERVICES
OPENING DATE: 3:00 p.m. (our clock) September 20, 2000
To all prospective Proposers:
Pre -Proposal Conference Questions and Answers
How many years have you banked with First National Bank of Ft. Collins?
First National Bank of Fort Collins has provided the City with banking services since 1979,
approximately 20 years. Prior to First National Bank, the United Bank provided banking
services to the City.
2. Do you bank exclusively with them? If not, please list.
The City uses:
The Bank of New York Western Trust Company for custodial/security safekeeping services.
La Salle Bank of Chicago, Illinois for procurement card services.
Several banks have participated in bond and lease transactions with the City.
3. Page 1 indicates that 6 written proposals are required, page 5 indicates 7, please confirm.
Please provide 6 written proposals (one original and five copies).
4. Are the utility payments received in the LockBox encoded remittances (ie. scanable)?
Currently each utility payment stub contains an OCR scanable line. The City is in the process
of changing the remittance forms to include MIRC encoding which can be read by a processing
machine.
5. Define a Banking Treasury Workstation and how you utilize the service.
A Banking Treasury Workstation is terminal/ Internet connection linked to the bank. The
workstation can be used to review account information and make financial transactions.
6. Will you consider receiving payments and/or credit card payments via the Internet?
The City would like to be able to accept payments via the Internet.
7. Can a submitting bank request an oral presentation?
The first phase of the evaluation process is to review the submitted written proposals. If the
City requires additional information from the bank and decides that an oral presentation is
necessary, we will notify the bank. The City will riot accept an oral presentation for the first
phase of the evaluation process.
256 W. Mountain Avenue • P.O. Box 580 • Fort Collins, CO 80522-0580 • (970) 221-6775 • FAX (970) 221-6707
8. Page 12 — Second line last word `issued" we assume should be `insured"
The correct term is insured.
9. Page 13 — Proof of compliance with PDPA — what is acceptable proof?
Acceptable proof would be documentation that the bank is designated and certified as an
"eligible public depository".
10. Page 14 — Describe type of insurance policy bank carries for held funds and funds in transit.
We are not sure what you are looking for here — please elaborate.
If funds were lost in transit, in between the time the funds left the City and were deposited into
the City's account (ie. theft), how would the bank handle the situation.
11. Page 14 — Disaster Recovery — Most banks are not willing to share this — could this be a plan
reviewed with City staff on a verbal level?
The City Finance staff believe that a Disaster Recovery plan is a very important consideration
in selecting a provider of banking services. We believe we must have adequate written
information on which to evaluate this aspect of banking services. The bank may place material
related to Disaster Recovery in a separate envelope, labeled with the proposal number and
clearly marked confidential. The City will endeavor to keep that information confidential,
separate and apart from the proposal, subject to the provisions of the Colorado Open Records
Act (CRS 23-72-201 et.seq.) or court order.
12. Page 18 — Controlled disbursement process — What is the City looking for?
Through various GFOA seminars we have heard that many banks offer their clients services
which will help to better manage the disbursement process, thus maximizing the return on City
assets. If your bank provides controlled disbursement services, please provide a description
of how your process works.
13. Page 19 — BAI survey — quality indicators — This is a very comprehensive report — what
particular parts are you interested in?
Please provide the following statistics from the BAI survey:
Depository services —file processing error rate, item processing error rate, failed/late item
processing rate, check encoding error rate, check reject rate, coin
and currency providing error rate, commercial deposit error rate.
LockBox — item processing error rate, deposit error rate, procedural error rate,
distribution error rate, deposit reporting error rate, failed/late deposit
reporting rate, detailed reporting error rate, failed/late detail
reporting rate.
Wire Transfer — payment error rate, failed/ late execution rate.
ACH — ACH origination file error rate, ACH failed/late file delivery rate, ACH failed/late file
receive date.
Please include any other indicators you feel are pertinent to the services outlined in the request
for proposal.
14. Page 24 —Attachment B, Item B —Automated Clearing House (outgoing payroll) indicates 120
items — is this files or items?
This is 120 items and excludes direct deposit (ACH) payroll, as indicated.
15. Is the one month analysis statement representative of the average collected balances on a year
round basis? What is the typical high and low average collected balance level during the year?
The average daily collected balance during a 12-month period fluctuates as follows:
Average = $1,934,000
High = $2,753,000
Low = $1,305,000
16. Does the City have any problem with the Lockbox service address being located in Denver?
The Lockbox service address may be located in Denver.
17. How is direct deposit currently being transmitted?
Direct deposit is sent to the bank in a text file via e-mail.
18. Of the City's total MasterCard/Visa processing, what percentage is `non -qualified"?
The City does not have access to this information.
19. What type of electronic merchant processing equipment is currently being used? Is the city
satisfied with the equipment performance?
The City currently uses the Tranz 330/380 (including printer). We are satisfied with the
equipment.
20. Why is it necessary for the City to process a portion of their MasterCardNisa volume manually?
A few City locations have very low monthly Visa/ MasterCard receipt volumes. After reviewing
the up -front charges of purchasing the electronic equipment and additional phone line, they
chose to go with the lower up -front costs but higher on -going manual charges.
21. Does the City currently use online debit? If not, is that of interest in the future?
The City does not use online debit but is interested in doing so in the future.
22. Regarding the Procurement card, what specific controls is the City accustomed to? Are there
any additional controls the City would like to see added? What reporting requirements?
Procurement card services are currently under a separate contract with La Salle Bank. The
City is not looking to re -bid those services in this Banking Services contract.
23. Does the City have a preference on how bank charges are administered — i.e., a full hard
charge and interest income or a net cost figure?
The City would like the proposals to detail full hard charges. The City may negotiate to a
combination of full hard charge and compensating balance.
24. Can we get a break down on the checks, on -us items, local items and non local deposited?
The City does not have access to this information.
25. How many deposits does the City average per month?
The average number of items processed each month is approximately 52,000.
26. Re: Positive Pay - does the City use same day or next day?
The City is not currently using Positive Pay but we would like to do so in the future.
27. How many accounts would need ARP?
The City would need ARP on three accounts: payroll, accounts payable and credit card
clearing.
28. How many re -deposited items does the City have?
The City has approximately 30 re -deposited items per month.
29. Re: Control Disbursement Account - How many items per month does the City do and does the
City get presentment totals?
The City currently processes 2,900 vendor checks and 1,750 physical paychecks per month.
The City does not currently receive presentment totals.
30. Re: Vault Cash - per thousand $, total volume a month?
Cash deposits per month average $312,000.
31. Does the City utilize a BAI file to upload to your accounting systems?
The City does not currently utilize a BAI file to upload into our financial system.
32. What EDI functions is the City currently using (i.e., receipt or origination)?
The City is using EDI functions for receipt only.
33. Is the City anticipating that the "local branches" accept utility payments?
The City would expect local branches to accept utility payments.
34. What are the pick-up times and days of week for each location, and can they be changed?
Please see attached schedule (Attachment A) for pick-up times and days. The City would be
open to discuss schedule changes.
35. On the analysis, what are the City utility updates?
The "utility updates" is an additional charge for utility and sales/use tax Lockbox processing.
36. Does the minimum requirement of 2 billion in assets mean total holding company or the
individual bank?
The asset requirement applies to the holding company.
Questions Asked at the Pre -Proposal Conference
September 1, 2000
Does the City download information from the Banking Treasury Workstation to other
financial software?
The City uses a Treasury Workstation for its safekeeping/custodial services only; we do
not currently have a workstation for regular banking services. This is a service we hope
to obtain in the future. We believe a Treasury Workstation will allow us to view
transactions on a real time basis. We also plan to be able to complete transactions
through the Workstation. The Workstation should also greatly simplify reconciliation of
monthly account statements.
ATTACHMENT A
Response to pre -proposal conference question #34.
City of Fort Collins
Banking Services
Armored Car Courier Service Stops
acili
Service Frequency
City Finance Department
3 times a week
300 Laporte Avenue
MWF
Customer Information Services
10 times a week
330 S. College Avenue
M-F
Municipal Court Office
5 times a week
College Avenue
M-F
Parks & Recreation Office
5 times a week
214 N. Howes
M-F
Library
5 times a week
201 Peterson Street
M-F
Museum
1 time a week
200 Mathews Street
Tuesday
Mulberry Pool
5 times a week
424 W. Mulberry
M-F
EPIC
5 times a week
1801 Riverside Avenue
M-F
Lincoln Center
5 times a week
417 W. Magnolia
M-F
Senior Center
5 times a week
Shields
M-F
Cemetery
1 time a week
1900 W. Mountain Avenue
Friday
Parks Department
1 time a week
Tuesday
1
Pick-up Time
2:00 - 2:30
8:30 — 9:00
2:30 — 3:00
9:30 —10:00
8:15 — 8:30
1:30 — 2:00
11:30 — 12:00
12:00 — 1:00
11:30 — 12:00
12:30 —12:45
10:00 — 11:00
10:00 — 11:00
Collindale Golf
1441 E. Horsetooth Road
City Park Nine Golf
411 S. Bryan Street
Southridge Golf
5750 S. Lemay Street
TransFort
6570 Portner Road
Parking Office
210 Olive
Parking Garage
102 Remington Street
Smart Trips
235 Mathews
Building Inspection
281 N. College
Engineering
281 N. College
Various Drop Boxes
Located in the City
7 times a week
Sun — Sat (seasonal)
7 times a week
Sun — Sat (seasonal)
7 times a week
Sun — Sat (seasonal)
1 time a week
Thursday
5 times a week
M-F
5 times a week
M-F
1 time a week
Tuesday
5 times a week
M-F
5 times a week
M-F
5 times a week
2
11:00 — 1:00
8:00 —11:00
9:00 — 10:00
11:30 —12:30
E
8:45 — 9:00
1:00 — 3:00
11:30 — 12:00
11:30 —12:00