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RFP - Banking Services 2018-08-30 City of La Quinta RFP Banking and Merchant Services REQUEST FOR PROPOSAL Banking and Merchant Services City of La Quinta BID ISSUED DATE August 30, 2018 Title: Finance Director Contact: Karla Campos Email: kcampos@laquintaca.gov Phone Number: 760-777-7073 PROPOSAL DUE Date: Friday, October 5, 2018, 5:00PM Mail Address and Bid Opening Location: City Clerk City of La Quinta 78495 Calle Tampico La Quinta, CA 92253 Sealed written responses must be received by the City Clerk no later than the date, time, and location indicated above for the Bid Opening. Late submission of responses shall not be considered. Submittal of response by email or fax are not acceptable. BID CONTENTS Section I - Purpose of Request for Proposal and General Terms and Conditions Section II - Introduction Section III - Schedule of Events Section IV - Proposer Qualifications Section V - Evaluation and Award Criteria Section VI - Proposal Instructions and Scope of Work Section VII - Bid Form Appendix A - Consultant Agreement Sample Appendix B - Reference Submittal Form Appendix C - Local Business Preference and Certification Request Note: This bid does not constitute an order for the goods or services specified. City of La Quinta RFP Banking and Merchant Services SECTION I PURPOSE OF REQUEST FOR PROPOSAL AND GENERAL TERMS AND CONDITIONS 1.0 PURPOSE OF REQUEST FOR PROPOSAL The City of La Quinta (“the City”), Finance Department is currently seeking proposals from qualified financial institutions for Banking and Merchant Services for its bank accounts and related cash management services. The primary objective of this proposal is to obtain the most efficient, high quality services at the most reasonable cost. 1.1 PRE-PROPOSAL CONFERENCE – None 1.2 QUESTIONS REGARDING THE RFP Any questions, interpretations, or clarifications, either administrative or technical, about this RFP must be requested via email prior to the date indicated in Section III. All pertinent questions will be answered and conveyed to all Proposers. Oral statements concerning the meaning or intent of the contents of this RFP by any person is unauthorized and invalid. All questions either technical, commercial, or contractual in nature shall be directed to: Karla Campos, Finance Director, kcampos@laquintaca.gov. 1.3 ERRORS AND OMISSIONS If a Proposer discovers any ambiguity, conflict, discrepancy, omission, or other error in the RFP or any of its attachments, he/she shall immediately notify the City of such error in writing and request modification or clarification of the document. Modifications will be made by addenda. Clarifications will be given by written notice to all parties who have been furnished or who have requested an RFP for proposing purposes, without divulging the source of the request for same. If a Proposer fails to notify the City prior to the date fixed for submission of proposals of an error in the RFP known to him/her, or an error that reasonably should have been known to him/her, he/she shall bid at his/her own risk, and if he/she is awarded the contract, he/she shall not be entitled to additional compensation or time by reason of the error or its later correction. 1.4 ADDENDA The City may modify this RFP, any of its key action dates, or any of its attachments, prior to the bid submittal date. Addenda will be numbered consecutively as a suffix to the RFP Reference Number. It is the Proposer’s responsibility to ensure they have incorporated all addenda. Failure to acknowledge and incorporate addenda will not relieve the Proposer of the responsibility to meet all terms and conditions of the RFP and any subsequent addenda. 1.5 SUBMISSION OF PROPOSAL Proposals will be accepted on or before the date and time indicated in the Schedule of Events, Section III, in accordance with Section VI, Proposal Instructions and Format. 1.6 PROPOSER’S COST Costs for developing proposals are entirely the responsibility of the Proposer and shall not be chargeable to the City of La Quinta. 1.7 EXCEPTIONS If a Bidder takes exception to any part of these specifications as written, or as amended by any addenda subsequently issued, or the Agreement, they must do so in writing. Said exceptions must City of La Quinta RFP Banking and Merchant Services be submitted with the proposal. Failure to do so will be construed as acceptance of all items of the specification and the Agreement. 1.8 DELIVERY OF PROPOSALS Proposals submitted by mail should be postmarked sufficiently in advance of the bid opening to ensure delivery to the City Clerk, City of La Quinta, prior to the specified opening time. The City assumes no responsibility for delay in delivery of the proposal by U.S. Mail or any other service. LATE PROPOSALS WILL NOT BE ACCEPTED. 1.9 PROPOSALS BECOME THE PROPERTY THE OF CITY OF LA QUINTA Proposals become the property of the City and information contained therein shall become public property subject to disclosure laws after Notice of Intent to Award. The City reserves the right to make use of any information or ideas contained in the proposal. 1.10 CONFIDENTIAL MATERIAL Proposer must notify City in advance of any proprietary or confidential material contained in the proposal and provide justification for not making such material public. City shall have sole discretion to disclose or not disclose such material subject to any protective order which Proposer may obtain. 1.11 REJECTION OF PROPOSALS City may reject any or all proposals and may waive any immaterial deviation in a proposal. City of La Quinta's waiver of an immaterial defect shall in no way modify the RFP documents or excuse the Proposer from full compliance with the specifications if he/she is awarded the contract. Proposals referring to terms and conditions other than City of La Quinta’s terms and conditions may be rejected as being non-responsive. The City may make investigations as deemed necessary to determine the ability of the Proposer to perform the work, and the Proposer shall furnish to City of La Quinta all such information and data for this purpose as requested by the City. The City reserves the right to reject any proposal if the evidence submitted by, or investigation of, such Proposer fails to satisfy the City that such Proposer is properly qualified to carry out the obligations of the contract and to complete the work specified. 1.12 CANCELLATION This solicitation does not obligate the City to enter into an agreement. City of La Quinta retains the right to cancel this RFP at any time, should the project be canceled, City of La Quinta loses the required funding, or it is deemed in the best interest of the City. No obligation, either expressed or implied, exists on the part of the City to make an award or to pay any cost incurred in the preparation or submission of a proposal. 1.13 INSURANCE REQUIREMENTS The City requires a certificate of insurance prior to commencement of any work. An underwriter’s endorsement is also required with additional insured verbiage and must be an admitted surety in the State of California. Insurance requirements are outlined in the Contract Service Agreement (Exhibit A). 1.14 LOCAL BUSINESS PREFERENCE Local vendors are encouraged but not required. For purposes of this section, a “local” shall be defined as an individual, partnership or corporation which regularly maintains a place of business within the corporate limits of the City. 1.15 DISPUTES/PROTESTS City of La Quinta RFP Banking and Merchant Services The City encourages Proposers to resolve issues regarding the requirements or the procurement process through written correspondence and discussions during the period in which clarifying addenda may be issued. The City wishes to foster cooperative relationships and to reach a fair agreement in a timely manner. Formal proposals for major professional and technical services shall be governed by the City’s Purchasing Policy (Exhibit B). 1.16 AWARD OF CONTRACT Award, if any, will be to the Proposer whose proposal best complies with all of the requirements of the RFP documents and any addenda. Evaluation methodology and basis for award are described in Section V – Evaluation and Award Criteria. 1.17 TERM OF CONTRACT The period of services shall be five years with the option to renew for two additional one-year periods. Annual renewals shall be automatic and based on satisfactory performance of service and unless terminated by either party with thirty (30) days written notice prior to the expiration of each renewal. 1.18 CONTRACT DOCUMENTS In the event of a conflict between documents the following order of precedence shall apply: 1. City of La Quinta Contract Services Agreement 2. City of La Quinta Request for Proposal 3. Proposer's Proposal 1.19 EXECUTION OF THE CONTRACT Upon approval by the City Council, the contract shall be signed by the Proposer and returned, along with the required attachments to the City of La Quinta within ten (10) working days. The period for execution may be changed by mutual agreement of the parties. Contracts are not effective until approved by the appropriate City of La Quinta officials. Any work performed prior to receipt of a fully executed contract shall be at Proposer's own risk. 1.20 FAILURE TO EXECUTE THE CONTRACT Failure to execute the contract within the time frame identified above shall be sufficient cause for voiding the award. Failure to comply with other requirements within the set time shall constitute failure to execute the contract. If the successful Proposer refuses or fails to execute the contract, the City may award the contract to the next qualified highest ranked Proposer. 1.21 NON-ENDORSEMENT If a proposal is accepted, the Proposer shall not issue any news releases or other statements pertaining to the award or servicing of the agreement which state or imply the City endorsement of Proposer’s services. 1.22 CONFLICT OF INTEREST The City requires a Statement of Economic Interest (Form 700) to be filed by any proposer who is involved in the making, of the decisions which may have a foreseeable material effect on any City financial interest [reference Government Code § 82019]. City of La Quinta RFP Banking and Merchant Services SECTION II INTRODUCTION 2.0 INTRODUCTION The City is requesting proposals from qualified financial institutions for Banking and Merchant Services for its bank accounts and related cash management services. The primary objective of this proposal is to obtain the most efficient, high quality services at the most reasonable cost. The City of La Quinta is located 120 miles east of Los Angeles in the eastern portion of Riverside County known as the Coachella Valley. The City is governed by a five-member City Council under the Council/Manager form of government. The City was originally incorporated in 1982 as a general law City and became a charter city in November 1996. The City provides a range of services, which include construction and maintenance of streets and other infrastructure; community development and planning; construction and code compliance; recreational and cultural activities; and general municipal services. The City contracts with other government agencies and organizations for specific services, including police and fire protection, library and museum services, water and sewer service, electricity service, refuse collection, public transit, and street sweeping. The City is also financially accountable for a legally separate Successor Agency for the former Redevelopment Agency, a Financing Authority, and a Housing Authority The City will endeavor to administer the proposal process in accordance with the terms and dates outlined in this RFP, however, the City reserves the right to modify the activities, time line, or any other aspect of the process at any time, as deemed necessary by City staff. By requesting the proposals, the City is in no way obligated to award a contract or pay the expenses of proposing banks in connection with the preparation or submission of a proposal. The awarding of any contract shall be contingent on the availability of the funds and the requisite staff and Council approvals. The decision to award any contract to a particular bank will be based on a variety of factors as listed in the RFP. It is in the City’s interest to do business with banking professionals who are dedicated to the government market. No single factor will determine the final award decision. City of La Quinta RFP Banking and Merchant Services SECTION III SCHEDULE OF EVENTS Advertisement August 30, 2018 Release of Request for Proposal August 30, 2018 Last Day for Submission of Questions September 21, 2018 City Response to Questions submitted via Addendum September 28, 2018 Deadline for Receipt of Proposals October 5, 2018 at 5:00PM Evaluation October 19, 2018 Optional Interview if Required Week of November 5, 2018 Tentative Contract Award Date December 4, 2018 *NOTE: The dates subsequent to receipt of proposal may be adjusted without further notice. City of La Quinta RFP Banking and Merchant Services SECTION IV PROPOSER QUALIFICATIONS 4.0 In addition to meeting all other requirements of this RFP, all responding Proposers shall furnish verifiable evidence that their firm and personnel, at a minimum, meet the following qualifications. a. Be a Federal or State of California chartered institution. b. Be a member of the Federal Reserve System and have access to all services. c. Be a qualified State depository for public funds. d. Be a full-service bank in good standing among other comparable banks. e. Be capable of providing the services sought by the City, to include a wide range of electronic payment and deposit services. f. Agree to assign experienced and dedicated staff committed and capable of servicing the City’s accounts. g. Be in compliance and good standing with the Community Reinvestment Act. h. Be sufficiently capitalized to accommodate the City’s cash management needs and ensure collateralization of funds. i. Banking institution shall provide their current ICD rating. City of La Quinta RFP Banking and Merchant Services SECTION V EVALUATION AND AWARD CRITERIA 5.1 EVALUATION METHOD The selection of the bank to provide banking and merchant services to the City will be based on a comprehensive review of the bank’s qualifications as presented in this proposal, overall price and cost to the City, the experience and success of the bank in providing banking services to similar clients, the firm’s ability to provide the services outlined in the RFP and an evaluation of the bank’s ability to be a good business partner with the City. Proposals will be reviewed and evaluated by an evaluation committee comprised of City of La Quinta Finance personnel and two Financial Advisory Commission members (La Quinta residents, appointed by City Council). Award will be made in the best interest of the City of La Quinta. 5.2 EVALUATION CRITERIA The proposals will be evaluated and ranked in accordance with the evaluation criteria described below. • Bank financial strength and ability to protect and collateralize City deposits. • Overall cost to City and ability to guarantee pricing for contract period. • Revenue sharing and/or cost reduction opportunities offered by the bank. • Ability to meet minimum required service levels and offer required bank products. • Quality references and overall experience with public agencies. • Qualifications and strength of the relationship management team. • Ability to offer product and service enhancements. • Location of bank offices. • Other qualitative characteristics as may be presented in the RFP. Discussions may be conducted with the most qualified bidders for the purpose of clarification to assure the full understanding of, and conformance to, the solicitation requirements. Revisions may be permitted after submissions, and prior to award, for the purpose of obtaining best and final offer. City of La Quinta RFP Banking and Merchant Services SECTION VI PROPOSAL INSTRUCTIONS, FORMAT, AND SCOPE OF WORK 6.1 INSTRUCTIONS To be considered responsive to this RFP, Proposer must submit proposals in the format identified in this section. All requirements and questions in the RFP must be addressed and all requested data must be supplied. The City of La Quinta reserves the right to request additional information that, in the City’s opinion, is necessary to assure that the Proposer’s competence, number of qualified employees, business organization, and financial resources are adequate to perform according to contract. The City also reserves the right to reject any and all proposals, to waive any non-material irregularities or informalities, and to accept or reject any item or combination of items. This RFP and the bank’s response, including all promises, warranties, commitments, and representations made in the successful proposal, will become binding contractual obligations. Proposed services and related pricing and warranties contained in the proposal must be valid for a period of 120 days after the submission of the proposal . Any questions concerning the RFP must be submitted via email to kcampos@laquintaca.gov. All banks wishing to participate in this selection process are to provide an email address by September 14, 2018 to ensure the City can respond to questions via email to all proposing parties, thus ensuring all participating parties have access to the same information. 6.2 NUMBER OF COPIES The Proposer shall provide a minimum of one (1) original and five (5) duplicates of the proposal containing section tabs with responses following the same order as the RFP. Each question of the RFP should be repeated with the bank’s response following. Please refrain from including extraneous or marketing information. If a service requirement or section of the proposal cannot be met by a proposer, then “No Proposal” should be indicated on the Bid Form and the relevant section of the proposal. An alternate equivalent service may be offered. All copies of the proposal must be delivered sealed. One copy of the proposal must be clearly marked “Master Copy”. 6.3 DELIVERY OF PROPOSALS a. Address/Deliver proposals to: City Clerk, City of La Quinta 78495 Calle Tampico La Quinta, CA 92253 b. Proposals must be received by the City Clerk, no later than 5:00 p.m., Friday, October 5, 2018. Late submissions, including fax or email delivery, will not be accepted. 6.4 PREPARATION Proposals should be prepared in such a way as to provide a straightforward, concise delineation of capabilities to satisfy the requirements of this RFP. Emphasis should be on completeness and clarity of content. Bank personnel signing the cover letter, or any other related forms submitted must be authorized signers with the requisite authority to represent the bank and to enter into binding contracts with clients. 6.5 PROPOSAL FORMAT City of La Quinta RFP Banking and Merchant Services To assist the City to adequately compare and evaluate each bank’s qualifications objectively, all proposals must be submitted in the prescribed format. Cover Letter It should include the name of the proposing bank, its principle business address where the relationship will be managed, and the branch address that can meet the daily banking needs of the City and its employees. Table of Contents Tab A – Transmittal Letter: The letter should address the bank’s willingness and commitment, if selected to provide the service, and why the bank believes it should be selected. The letter should contain a statement that the bank has read and will comply with all the terms and conditions of the RFP. The letter should be addressed to Karla Campos, Finance Director, and signed by an individual authorized to bind the bank. Tab B – Bank and Personnel File: Please respond to the following: Bank Overview – Provide a general overview of the bank’s operations, fundamental management, and customer service philosophy, and financial strength. Identify the primary office or branch that the City will be assigned to and where the City will conduct its primary banking business. Experience – Describe the bank’s direct experience in servicing public sector clients. Please include the information such as the number of nationwide and California public agency clients, the dollar amount of public funds on deposit for each of these categories, and the bank’s knowledge of and adherence to the California Government Code and other applicable laws. Relationship Management – Identify the size and scope of your California-based public banking unit, banking officers responsible for the City’s accounts, what each person’s role and responsibilities will be, and the relevant credentials and experience of each person on the relationship management team. Customer Service – Describe how the bank handles problem resolution, customer service, day-to-day contact, and ongoing maintenance for governmental entities. Specify whom the City will be calling for day-to-day banking and treasury management issues. Explain the process for elevating an issue to a higher level to obtain a quick resolution when the day-to- day contact is not responsive. Compliance and Exceptions – Include a statement to confirm the bank’s compliance to specific minimum qualifications, listing any exceptions to required services. Responsible Banking Description – Describe the bank’s responsible banking policies and practices. Discuss any current efforts, or those that may be implemented in the City of La Quinta, if the bank were awarded the City banking contract. Lastly, describe any other efforts/contributions the bank has made/would make relative to investment in the local community (such as fraud prevention seminars hosted at the City’s multi-generational Wellness Center.) Tab C – References: Please provide three (3) references. References should include other California cities of similar size and scope of service utilization as the City of La Quinta. Select City of La Quinta RFP Banking and Merchant Services both long standing and recent customers. Include the following information for each reference: • Contact name and title • Name of agency • Telephone number and email address • Services provided Tab D – Demand Deposit Accounts: The City currently uses three (3) demand deposit accounts (DDAs). One is a Zero Balance Accounts with the Deposit Account serving as the Parent ZBA. Checks are issued using the Accounts Payable Account and Payroll Account. 1. How many days after month-end will the City receive its bank statements? 2. Are the bank statements available on-line? 3. Does the bank offer Zero Balance Accounts (ZBA’s)? If so, please describe the service. Are the transfers to or from the Parent Account automatic? 4. Does the bank offer ACH blocks or filters? If so, please explain. 5. Does the option exist to create sub-accounts under the primary account? Tab E – Collateralization of Deposits: The bank is required to collateralize public funds deposits under the California Government Code, Sections 53651 and 53652. Copies of the reports filed with the State of California shall be made available to the City upon request. Please detail the bank’s procedures for collateralizing public funds deposits. 1. What types of securities are used as collateral? 2. Which bank department is responsible for tracking deposits and monitoring collateral? 3. What is the bank’s current level ($ amount) of California public funds deposits and the related collateral? 4. What is the frequency of reporting to the State Treasurer’s Office? 5. Please include a copy of the Bank’s Contract for Deposit of Moneys in this section. Tab F – Bank Compensation: The City has historically paid for bank services with a combination of hard-dollar fees and compensating balances. Please indicate the following in this section: 1. Can the City compensate the bank for services with fees, balances, or a combination of the two at its own election? Please describe any differences in related costs to the City with either option. 2. Can the City choose between paying for analysis deficiencies by check, auto debit, or ACH credit? 3. What is the bank’s Earning Credit Rate (ECR) based on, and how is it calculated each month? 4. List the bank’s average ECR for each of the last eight months (January – August, 2018). 5. Using the ECR for the month of August 2018, please calculate the level of compensating balances (after float and reserves) needed to offset one dollar of the bank services. ($1 in services = $ _______ in compensating balances.) 6. Please explain in detail, how and when the FDIC assessment is computed and charged. 7. What is the bank’s settlement period for account analysis and billing purposes – monthly, quarterly, semiannually, or annually? How long can any excess balances be carried forward to apply to charges in future billing periods? 8. How long will the bank’s pricing, as indicated in this proposal and the Banking Services Bid Form, be fixed? City of La Quinta RFP Banking and Merchant Services 9. Please detail which types of items and services can be applied against the account analysis in addition to the standard bank services, such as merchant bankcard processing, messenger service, armored carrier, check stock, supplies, custody services, etc. Is there a markup for any of the items? If so, how much? 10. How does the bank charge for overdrafts? Does the bank charge for the use of uncollected funds? If so, how is the charge calculated? 11. Please state the negative collected balance charge that the City will pay and, in detail, explain how this charge is computed. Is the rate quoted in this proposal good for the term of the contract? 12. Are Account Analysis Reports available on-line? If so, specify the cost. 13. What procedure is used to make any adjustments to the Account Analysis statements and how long does it take for adjustments to take effect? Tab G – Deposit Activity: The City currently utilizes a variety of methods to process daily deposits. The City requires weekly deposit pick-up from City Hall. Total monthly deposits consist of approximately 600 to 800 un-encoded checks and approximately $20,000.00 to $30,000.00 in coin and currency. Deposited items should be automatically re-cleared once. Checks that are returned are mailed to the City. The City requires the ability to use the branch to make branch deposits, to get change, to allow employees to cash payroll checks, and for other miscellaneous activities. 1. Please identify your branch locations within the City of La Quinta. Do all locations provide night depository services? 2. Please describe the bank’s deposit requirements. How should the coin and currency deposits be prepared? How should un-encoded check deposits be prepared? 3. How would the City order cash vault supplies? How is payment made for such supplies? 4. Please describe in detail the bank’s procedures for handling deposit adjustments. What documentation on discrepancies does the bank provide? 5. Is the deposit adjustment documentation different from cash deposits and check deposits? What is the minimum adjustment amount? How soon would support documentation of a deposit discrepancy be provided to the City? 6. Please describe the bank’s returned item handling and notification procedures. Is an automatic re-clear option available? How long does it take for returned items to be sent to the City? Include any online tools available for this purpose. 7. What are the cut-off times for deposits at the bank’s local branch and at the bank’s Processing Center to ensure same day credit? Where is the Processing Center/Cash Vault located? Will the City deal directly with the Cash Vault on deposit adjustments or with a local representative? Tab H – Bill Concentration Service: 1. Does the bank have the capability to provide a bill concentration service? If so, please describe the service and any costs associated. Tab I – Wire Transfers: The City currently transacts wire transfers on-line, initiating approximately five (5) wires and book transfers a month and receiving approximately two (2) incoming wires per month. 1. Please describe the bank’s on-line wire transfer capabilities. What is the deadline for initiating wire transfers? City of La Quinta RFP Banking and Merchant Services 2. What safeguards and security measures does the bank have in place to protect the City? Tab J – Automated Clearing House (ACH) Service Requirements ACH Direct Deposit of Payroll: The City utilizes direct deposit services for bi-weekly payroll for the City. Approximately 95% of the 110 City’s employees take advantage of the direct deposit service. Please address the following: 1. Describe the bank’s direct deposit services, including the software requirements and transmission options available. 2. Discuss screening measures that the bank uses to minimize errors on files sent to the bank. Describe the process and timing available for file/error correction. 3. Indicate the transmission deadlines for direct deposit ACH files, including date and time when the bank needs the file from the City and when the funds are debited from the City’s account. 4. Discuss any employee benefit programs for City employees and indicate if the bank would be able to participate in City-hosted employee benefits presentations. 5. Is there direct support for file testing? ACH Vendor Payments: The City would like to make payments electronically. Describe the program used by the bank to facilitate these payments. The City currently uses Tyler Incode 10 for its financial software. ACH Auto Debit: The bank must have the capability to accommodate an online bill collection services. Tab K – Payroll Tax Processing: Please describe the bank’s payroll tax withholding services and its related costs. The City requires the ability to report and pay state and federal tax withholdings automatically online or by telephone. Tab L – State Activity/LAIF Transfers: The City transacts State of California Local Agency Investment Fund (LAIF) transfers on a regular basis and receives State electronic payments. 1. Please describe the LAIF transfer process. Are the transfers done by telephone, email, fax, wire transfer, etc.? How is the accuracy of transfers assured? 2. What is the charge per transfer to LAIF? From LAIF? 3. Does the bank have an office in Sacramento that maintains a direct DDA banking relationship with the State Treasurer’s office and the State Controller’s office? 4. Is the bank an approved State of California depository? 5. What is the charge for the deposit of State electronic payments? State warrants? 6. What is the bank’s position on past issuance of IOU’s by the State of CA? Does the bank accept IOU’s for deposit? Tab M – On-line Bank Processes and Information Reporting: The City currently utilizes a web-based on-line system to perform a variety of processes, such as placing stop payments and accessing online balance reporting information for all accounts. 1. Please describe the banks on-line banking and information reporting system(s) including a list of all services provided. 2. What are the current computer hardware and software specifications for most effectively utilizing the bank’s on-line system? 3. At what time (Pacific Standard Time) is prior day information available? City of La Quinta RFP Banking and Merchant Services 4. Is the per item fee for prior day reporting based on the number of items reported or accessed? 5. Can the reports be customized? Exported to Excel? 6. What types of security measures are in place? How is the assignment of user I.D.’s and passwords managed? 7. What is the bank’s contingency plan for providing this information in the event of an unexpected bank system problem or natural disaster? 8. Does the bank offer electronic delivery of statements, reports, and notices? Tab N – Account Reconcilement: The City currently issues approximately 400 Accounts Payable and Payroll checks monthly and utilizes Full Account Reconcilement with Positive Pay services for its disbursement accounts. 1. Does the bank offer Full Account Reconcilement Services with Positive Pay? If so, please describe the service including accepted methods for receiving the Positive Pay data and the format specifications for that data. 2. Does the bank offer Teller Positive Pay and Payee Positive Pay? 3. How are the exception items under the Positive Pay reported to the City? What is the procedure and timeline for paying or returning exception items? 4. How are manual checks issued by the City sent to the bank for inclusion in Positive Pay? 5. Does the bank provide on-line check imaging for exception items? 6. Describe the bank’s check truncation service. Is on-line check imaging available for paid items? Deposit slips? Bank correction advices? 7. Does the bank offer a CD-ROM imaging service? If so, please describe the service and associated costs. 8. Describe the bank’s on-line stop payment, void, and cancellation services and features. How long is a stop payment effective via any method available? 9. Describe how long online images are available for display and what type of images are available. Tab O – Daylight Overdraft Protection: The City currently requires daylight overdraft protection. 1. Describe any issues, concerns, and charges associated with the use of daylight overdraft facility. 2. Will the bank guarantee payment of all the items even if it results in the account being overdrawn temporarily for the day? Tab P – Merchant Bankcard: The City currently accepts Visa and MasterCard credit card payments approximating $62,000.00 in collections per month, with transactions averaging at approximately 500 per month. The City currently has three (3) merchant locations or I.D.s accepting payment for the City for services. The City prefers a single point of contact for technical issues, configuration changes, upgrades, maintenance, and troubleshooting for any merchant bankcard issues. 1. Please describe the bank’s Merchant Bankcard and Point-of-Sale processing capabilities. 2. Please describe your reporting methodology and how adjustments and charge backs and other debit adjustments are netted from daily proceeds or debited from daily proceeds or debited separately? Is the discount fee refunded when a charge back or refund occurs? What is the rebuttal process? City of La Quinta RFP Banking and Merchant Services 3. When and how will the City receive funds for each day’s transactions? Is the settlement by ACH or Fed wire? Are settlement amounts listed separately on the bank statement or will they appear in one lump sum? Will the bank break out settlement amounts by merchant location? 4. What is the cutoff time for card transactions? 5. The City has three (3) credit card terminals with third party vendor settlements (Ingenico brand with chip reader technology). Can the bank supply the City with additional terminals if needed? Does the bank have a preferred credit card third party vendor for daily settlements? 6. Is the bankcard relationship managed by a separate unit of the bank, or by the Account Relationship Manager? Please briefly describe the structure of this area. 7. When and how are the discount rate fees charged to the City? Can this fee be paid through analysis? Is tiered pricing available? 8. Is reporting information available online? What is the fee associated with this service? Is a “corporate level” view available to see all the merchant accounts? 9. What network will be used for front-end and back-end operations? 10. Please explain your rate increase policies. Can the rates be fixed for any period of time during the City’s contract? 11. What payment gateway platforms are accepted or provided? 12. The following pertains to the associated discount rate and other applicable charges. Please provide the following: a. Visa Authorization Fee b. MasterCard Authorization Fee c. Monthly Service Fee d. Monthly Statement Fee e. Please list any and all other applicable fees that the City would be charged. f. List any other credit cards accepted (Discover, American Express, etc.) and provide information answering the questions in this section for such other services. Tab Q – Purchasing Card: The City currently has a purchasing card program in place for employees to make various types of purchases and incur expenses for City-related business. 1. Does the bank offer a purchasing card service? If so, please describe the service. 2. Please detail all of the fees associated with the service and/or any rebate available with the program. 3. How often are the statements and reports remitted to the City? Is the reporting available on line? 4. Is there an interface available to download cardholder purchase information, either in an Excel format or directly to the City’s accounting system? 5. Do you provide an online application to review/approve procurement card transactions and to manage other aspects of the program? 6. Identify how fraud protection is identified, prevented, and monitored. 7. Describe if credit cards can be managed online? Including requesting additional cards, editing purchasing limits, editing availability of vendors for each card, making online payments, and any other online services available for the management of credit cards. Tab R – City Disaster Preparedness Program: 1. Please describe any processes in place to assist the City in the event of a natural disaster. City of La Quinta RFP Banking and Merchant Services Tab S – Implementation Plan: As part of any conversion, the City requires an efficient transition to the new bank or to enhanced services with its existing bank. 1. Please describe the overall plan the bank would coordinate to ensure such a conversion. 2. Please detail all costs and the responsible party (bank or City) associated with the conversion of all new services. 3. What size conversion allowance will the bank provide to the City? Please state a specific dollar amount or identify those supplies, products, or services included. 4. Will the bank provide on-site training for City personnel for all the services selected? How is the training typically structured? 5. The target implementation date is July 1, 2019. Tab T – Service Enhancements: Based on the information provided in the RFP and your firm’s knowledge of the public sector, please describe any services or technological enhancements, not previously mentioned, that should be considered for further improving effectiveness of the City’s treasury management operations. Exhibits for Banking Services Submittals: Tab U – Banking Services Bid Form: Complete the Bid Form with pricing information. Tab V – Sample Account Analysis Statement and Users Guide: Tab W – Relevant Cash Management Agreements: Tab X – Financial Statements and Ratings: Provide the most recent audited financial statements or annual report for the bank (a reference to electronic availability will suffice). Also include the bank’s most current Standard and Poor’s, Moody’s, and/or Fitch credit ratings, where available. A current IDC rating should also be provided. City of La Quinta RFP Banking and Merchant Services SECTION VII BID FORM- utilize AFP codes when applicable? Tab U – Banking Services Bid Form: Please complete all items on this attachment. If the bank does not or cannot provide the specific requested service, please indicate “no proposal” and if appropriate, recommend an alternative service and include as a specified attachment. Per unit cost x Estimated Monthly Unit Volume = Total Monthly Cost x 12 = Estimated Total Annual Cost. Where fees vary for this formula, please indicate and provide an estimate of the total annual cost. Volumes indicated represent average monthly activity. Bank Name: ___________________________________________ Item Per Unit Cost Estimated Monthly Unit Volume Total Monthly Cost Estimated Total Annual Cost Balance & Compensation Information Services Deposit Insurance-Bank Assessment General Account Services Account Maintenance ZBA Depository + Master Maint ZBA Subsidiary Account Maint Debits Posted-Other Credits Posted-Other Paper Deposit Statement Mailed Depository Services Banking Center Deposit-CA Vault Deposit-CA Dep Conditioning-Surchg-Vault Curr/Coin Dep/$100 Vault-CA Vault Deposit-Extended Hours-CA CKS Dep Un-Encoded Items Returns-Chargeback 3rd Party Courier-Vault Mail Notification-Receipt-Vault Deposit Correction-Cash Deposit Correction-Non Cash Paper Disbursement Services ARP PPay Maint-No Recon General Checks Paid Truncated NSF Items Paid/Returned Payee Positive Pay Maint Payee Positive Pay-Issue Match City of La Quinta RFP Banking and Merchant Services Banking Services Bid Form Bank Name: __________________________________________ Item Per Unit Cost Estimated Monthly Unit Volume Total Monthly Cost Estimated Total Annual Cost Paper Disbursement Services (Con’t.) Positive Pay Exceptions Stop Pay Automated-12 months ARP PPay No Recon Input Item CD Rom Maintenance Image Maintenance Image Retrieval CPO On Line Image Retrieval CPO CD Rom Disk CD Rom per Image ARP Positive Pay Notif ARP Issue Posted Notif ARP Issue Recd Notif ARP PPay Input File Trans Paper Disb Recon Services ARP Void Cancel Items General ACH Services ACH Monthly Maintenance (w) ACH Corporate On Us Credits ACH Corporate Off Us Credits Consumer Credit On Us Credits (w) Consumer Credit Off Us Credits (w) PC Tax Payment ACH Blocks Auth Instructions ACH Blocks Auth Maintenance City of La Quinta RFP Banking and Merchant Services Banking Services Bid Form Bank Name: _______________________________________ Item Per Unit Cost Estimated Monthly Unit Volume Total Monthly Cost Estimated Total Annual Cost General ACH Services (Con’t.) ACH Blocks Auth Add-Change ACH Debit Received Item (w) ACH Credit Received Item (w) ACH Return Item (w) ACH Input-Transmission (w) ACH Delete/Reversal (w) ACH Notif of Change (NOC) ACH Optional Reports-Electronic ACH Optional Reports-Fax (w) ACH Optional Reports-Mail (w) ACH Standard Reports-Mail (w) ACH Standard Reports-Electronic ACH Standard Reports-Fax (w) Wire & Other Funds Transfer Svc GP Mthly Maint Basic Electronic Wire Out-Domestic Book Credit Outgoing Wire Confirm Notif Wire Payee Advising GPS Confirms Pend Wire Approval Notif Incoming Wire Notif-Email GP Cust Mant Temp Storage City of La Quinta RFP Banking and Merchant Services Banking Service Bid Form Bank Name: ____________________________________ Item Per Unit Cost Estimated Monthly Unit Volume Total Monthly Cost Estimated Total Annual Cost Wire & Other Funds Trans Svc (Con’t.) Incoming Domestic Wire Wire Advice-Phone On Line Information Services Previous Day Account Fee Previous Day Standard Item Previous Day Maintenance Email Notification Schedule Online Subscription Per Image Access Service Enhancements/Other Remote Deposit Services Image Cash Letter Deposits Totals – Monthly and Annual Fees Other Information Earnings Credit Rate for August 2018 Uncollected Funds Rate (%)015 Overdraft Rate (%) Fixed Pricing Guarantee (# of Years) Bank Information Name of Contact Bank Officer Signature of Authorized Bank Officer Bank Officer’s Telephone Number Bank Officer’s E-mail Address