HomeMy WebLinkAboutAddenda - RFP - 8408 SECURITIES SAFEKEEPING & CUSTODIAL SERVICESAddendum 1 - Page 1 of 2
ADDENDUM NO. 1
SPECIFICATIONS AND CONTRACT DOCUMENTS
Description of RFP 8408: Securities Safekeeping & Custodial Services
OPENING DATE: 3:00 PM (Our Clock) November 14, 2016
To all prospective bidders under the specifications and contract documents described above,
the following changes/additions are hereby made and detailed in the following sections of this
addendum:
Exhibit 1 – Questions & Answers
Please contact Gerry Paul, Purchasing Director 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.
Financial Services
Purchasing Division
215 N. Mason St. 2nd Floor
PO Box 580
Fort Collins, CO 80522
970.221.6775
970.221.6707
fcgov.com/purchasing
Addendum 1 - Page 2 of 2
EXHIBIT 1 – QUESTIONS & ANSWERS
1. In the third paragraph of the Background Information on page 4 of your request for
proposals you indicate that “All funds and assets of the City are covered by this
proposal and include: operating funds, bond funds, and pension funds.” What
percentage of the funds are pension funds and what – if any – specialized reporting (for
example, Form 5500) would be required for these assets? What tasks would be expected of
the provider relating to pension assets, e.g. payouts to individuals?
The City requires 3 accounts. A City account (operating), a pension fund account,
and a self-insurance escrow account. The operating account holds the bulk of the
assets with approximately $417 million. The self-insurance account balance is
approximately $3.2 million and the pension account balance is approximately
$2,575 dollars. The pension account exists solely to separate investments from
the operating account and does not involve payouts or any other activity to
individuals. No specialized reporting is required for any of the accounts.
2. Please clarify what is meant by collateralization of anticipated intra-day balances.
All cash balances are required to be collateralized. As Investments mature they
may be reinvested the same day (intra-day cash balances) or the maturity may be
allowed to become cash for a period of time until a new investment is purchased.
3. Can you please explain online rate inquiry for existing repurchase agreement programs?
If you deal with multiple primary dealers on an existing repurchase agreement
program do you provide an online function for comparing repurchase agreement
rates offered by the dealers in your program. This would eliminate the need for
the City to contact each participant individually.