RFP Banking Services

City of O’Fallon Banking Services Request for Proposals #20-082 RFP #20-082 CITY OF O’FALLON, MISSOURI REQUEST FOR PROPOSALS RFP NUMBER 20-082 BANKING SERVICES November 25, 2020 INCLUDED ARE: Proposal Instructions Terms and Conditions Scope of Services Appendix A Appendix B RFP #20-082 2 CITY OF O’FALLON, MISSOURI PROPOSAL INSTRUCTIONS PURPOSE The purpose of this Request for Proposal (RFP) is to obtain sealed competitive proposals from qualified financial institutions capable of providing banking services for City funds on a contractual basis for three years with two one-year extensions. The City and/or Banking Services Vendor will have the option to terminate the agreement upon 60 days written notice. The RFP states the overall scope of services desired and specific functionality. This RFP provides prospective financial institutions with sufficient information to enable them to prepare and submit proposals for consideration by the City of O’Fallon (hereafter referred to as “the

City”) to satisfy the needs as outlined in the scope of services. SCHEDULE OF ACTIVITIES Release and advertisement of RFP: November 25, 2020 Deadline for submission of questions: December 9, 2020 at 12:00 PM CST Proposal submission deadline: December 22, 2020 at 12:00 PM CST Evaluation of Proposals: December 22, 2020 to January 6, 2020 Issue Recommendation: January 2021 Council Award Contract: February 2021 Execution of Bank Agreement: March 2021 Implementation: begin prior to May 1, 2020 PROPOSAL SUBMISSION Sealed proposals must be received by the City of O’Fallon, Missouri; Purchasing Office, 100 North Main Street; O’Fallon, Missouri 63366 prior to December 22, 2020 at 12:00 P.M. (prevailing central time). Each proposal shall consist of one original (identified as such), two copies (identified as such) and one electronic copy on flash/thumb drive of the complete proposal. The file submitted on flash/thumb drive shall include all attachments and signatures, where applicable. It is the responsibility of the proposer to ensure that their proposal is received in the Purchasing Office, prior to the deadline. Companies mailing proposals should allow ample mail delivery time to ensure timely receipt of their proposals. Proposals received after the deadline for receipt of proposals will not be opened or considered. Proposals will be opened and evaluated in private by City staff. A public opening will not be held. To make deliveries (including deliveries of the proposals for this project), the delivery vendor or bidder may hand deliver the bid during City Hall hours of Monday – Friday 9:00 am – 3:30 pm utilizing the East Entrance only. Mailed proposals are accepted with regular mail service each day. Any deliveries made during Monday – Friday 8:00 am – 9:00 am and 3:30 pm – 5:00 pm, the delivery vendor must call (636) 240-2000 when they arrive at City Hall. The delivery is to be left outside the building while City staff are inside watching. Once the bidder or delivery driver steps away from the package, City staff will open the door to take safe delivery of the package. Do not leave deliveries or bids at City Hall without confirmation from City staff. RFP #20-082 3 Proposals will not be considered unless they are submitted on the proposal form included as Appendix A of this document. It is the sole responsibility of the proposer to ensure the proposal arrives on time and at the correct location. The proposal must be signed by a duly authorized officer of the bank. Include the name, title, office address and office telephone of the primary contact person. Proposals must be clearly identified as a proposal for the City of O’Fallon, Missouri “RFP # 20- 082 Banking Services” and shall show such information on the outside of the proposal packet. Proposals will not be accepted by facsimile or email transmittal. Do not staple or submit bid in any type of binder; binder clips are acceptable. QUESTIONS All questions must be submitted in writing to Julie Moellering, Purchasing Agent, no later than 12:00 P.M. (CST) on December 9, 2020 via email jmoellering@ofallon.mo.us or fax (636) 978- 4144. The City will only respond by the end of day on December 14, 2020 to questions from Respondents. Answers to questions will only be distributed via addendum and posted on our website. http://www.ofallon.mo.us/bid-opportunities AMENDMENTS TO RFP In the event it should be necessary to revise any portion of this RFP, addenda will be provided to all proposers who received the original RFP from the City of O’Fallon. This does not relieve the submitting company the responsibility of regularly checking the City website listed below for updates regarding any addenda associated with this proposal request. Addenda are available on our website at: http://www.ofallon.mo.us/bid-opportunities. If you received this RFP by means other than the bid system, you must furnish your company name, address, and telephone number to the Purchasing Agent identified in the Proposal Instructions section in order to receive any addendum to this RFP. Proposers shall acknowledge receipt of each addendum issued in the space provided on the RFP form. END OF PROPOSAL INSTRUCTIONS mailto:jmoellering@ofallon.mo.us http://www.ofallon.mo.us/bid-opportunities http://www.ofallon.mo.us/bid-opportunities RFP #20-082 4 CITY OF O’FALLON, MISSOURI TERMS AND CONDITIONS QUALIFICATIONS: All companies shall be licensed, insured, and bonded and shall furnish satisfactory evidence to the City that they have previously performed/provided the types of services as specified below. LAWS AND ORDINANCES, REGULATIONS, LICENSING FEES: Firm shall conform to all rules, regulations, ordinances, laws, or directives set forth by the City of O’Fallon and/or the State of Missouri. LAW GOVERNING: All State of Missouri and/or Federal Laws shall be hereby specifically made a part of this contract as set forth herein. NON-DISCRIMINATING: The Contractor, its employees and subcontractors, agree not to commit unlawful discrimination and agree to comply with applicable provisions of the U.S. Civil Rights Act and Section 504 of the Federal Rehabilitation Act, and rules applicable to each. Firm shall comply with Section 285.525 – 285.550 RSMo regarding enrollment in a federal work authorization program. A signed, notarized affidavit (attached) and supporting documentation affirming enrollment in a federal work authorization program must be submitted with proposal. Failure to comply with this provision may result in rejection of proposal. E-VERIFY: Company shall be E-verify compliant and shall provide documentation to support this requirement within the proposal including the memorandum of understanding (MOU) and the electronic signature page completed in its entirety. METHOD OF AWARD / SELECTION: The proposals will be evaluated by the City. A response summary of proposals will be available by contacting Julie Moellering, Purchasing Agent. The response summary will only include the names of the companies that submitted proposals that were delivered by the required RFP submittal date and time. Until award of the contract, the Responses shall be held in confidence and shall not be available for public review. TERMS/CANCELLATION AND DAMAGES: This contract may be terminated by either or both parties upon sixty (60) days written notice or upon mutual agreement of both parties. If the City, because of the Vendor’s breach, terminates this Contract, the City shall have the right to purchase service elsewhere and to charge the Vendor with any additional cost incurred. Notwithstanding the above, the Vendor shall not be relieved of any liability to the City for damages sustained by the City by virtue of any breach of this contract by the Vendor and the City may withhold any payments to the Vendor until such time as the amount of such damages due the City from the Vendor shall be determined. RFP #20-082 5 PRICING: This request for proposal is for a three (3) year agreement, exercised at the sole discretion of the City of O’Fallon, Missouri. The pricing stated by the respondent in the cost proposal section shall remain firm for a three (3) year period from the start date of the contract. No price increases will be allowed for the duration of the contract. Price decreases are allowed at any time. RENEWAL & EXTENSION: The successful bidder will be awarded a three (3) year agreement effective the date of award. Prices must not be increased for the entire agreement period. At the City’s option, the agreement may be renewed for two (2) additional one (1) year periods. In no event shall the term plus renewals exceed five (5) years. The items or services purchased under this agreement may be subject to a price increase at the time of renewal, by mutual agreement. The exact increase or maximum percent increase shall be indicated on the price sheet of the proposal packet. Request for a price increase for each period must be presented to the City at least sixty (60) days before the expiration of the current agreement. If a request for increase is not presented, the prices will remain. Price decreases are allowed at any time. AWARD OF CONTRACT Once a tentative agreement has been formulated, the City’s Finance Director will make a recommendation to the City Council for review and approval. At any time prior to the award of contract, the City may modify its choice of a selected bank if circumstances indicate it would be in the best interest of the City. In the event the selected bank does not execute the contract within fourteen (14) calendar days after the City Council awards the contract, the City may notify the bank of intent to contract with the next most qualified bank or call for new proposals. Once a contract is awarded either party may terminate the contract for any reason upon 60-day written notice submitted to the other party. The City also has the option to accept the Control/Sweep Related Accounts, the Independent Accounts and each of the Additional Services portions of the proposal in part or in total. Additional services include, but is not limited to, positive pay, auto check clearing, flex benefit credit cards, investment advisory/brokerage services, check printing services, credit card processing, etc. CONTACT WITH CITY OF O’FALLON PERSONNEL: As specified above, all contact with the City should be channeled through the Purchasing Agent. No contact with other City employees, officials, or City Council members is to be made by responding proposers throughout the entire process. RESPONSE MATERIAL OWNERSHIP: All proposals become the property of the City of O’Fallon, Missouri upon receipt and will only be returned to the proposer at the City's option. Selection or rejection of the proposal will not affect this right. The City shall have the right to use all ideas or adaptations of the ideas contained in any proposal received in response to this RFP. Disqualification of a proposal does not eliminate this right. PROPRIETARY INFORMATION: All material submitted in response to this RFP will become public record and will be subject to inspection after an Intent to Award notice is issued. Any material requested to be treated as RFP #20-082 6 proprietary or confidential must be clearly identified and easily separable from the rest of the proposal. Such request must include justification for the request and approval by the City Clerk. Neither cost or pricing information nor a total proposal will be considered proprietary. CONFIDENTIALITY: The Vendor agrees that it will not permit the disclosure or duplication of any information received from the City or stored on City systems unless such disclosure or duplication is specifically authorized in writing by the City, or as required by law. The City agrees that it will not disclose or duplicate any information designated in advance by the Vendor as “Confidential/Proprietary” information to any person (other than City personnel who must have access to such information) unless such duplication, use or disclosure is specifically authorized in writing by the Vendor or is required by law. The term “Confidential/Proprietary” does not include ideas, techniques, or concepts that are in the public domain. EVALUATION RIGHTS: The City reserves the right to: a) reject any or all proposals, or to make no award, b) require modifications to initial proposals, c) make partial or multiple awards, or d) further negotiate costs submitted in proposals. The City reserves the right to award the contract in any manner deemed in the best interest of its citizens. REJECTION OF PROPOSALS: The City of O’Fallon, Missouri reserves the right to reject any or all proposals received in response to this RFP, to cancel this RFP if it is in the best interest of the City to do so, and/or re-advertise/re- solicit for proposals. Failure to furnish all information or to follow the proposal format requested in this RFP may disqualify the proposal. INCURRING COSTS: The City of O’Fallon, Missouri shall not be obligated or be liable for any cost incurred by proposers prior to issuance of a contract. All costs to prepare and submit a response to this solicitation shall be borne by the proposer. SUBMISSION OF PROPOSALS AND SUPPLEMENTAL MATERIALS: Proposals shall be submitted to the Purchasing Office. If supplemental materials are required or requested, then they must be submitted to the Purchasing Office as part of the proposal. Supplemental materials will not be accepted after the proposals have been opened, unless requested by the Purchasing Office. Submission or distribution by the company of unsolicited supplemental materials to City employees or Officials may result in rejection of the proposal. DISCRIMINATION POLICY: The City of O’Fallon advises the public that it does not discriminate against any person on account of race, color, religion, creed, sex, age, ancestry, or national origin, and that such nondiscrimination is extended to procurement of materials and/or the provision of municipal services. WAIVER: The City reserves the right to waive any variances from the original RFP in cases where the variances are considered to be in the best interest of the City. RFP #20-082 7 INSURANCE: The firm or company that is awarded a contract shall maintain during the life of the agreement and furnish to the City the appropriate Professional Liability, Commercial General Liability, and Workers Compensation insurance certificates listing the City of O’Fallon as an “Additional Insured” during the Term of the Agreement, and a copy of such “Additional Insured” endorsement must accompany the certificate. A Certificate of Insurance must be received from the production company and all sub-contractors. The minimum insurance requirements are attached. INDEMNITY: The Vendor shall, at all times, fully indemnify, hold harmless, and defend the City and its officers, members, agents, and employees from and against any and all claims and demands, actions, causes of action, and cost and fees of any character whatsoever made by anyone whomsoever on account of or in any way growing out of the performance of this contract by the Vendor and its employees, or because of any act or omission, neglect or misconduct of the Vendor, its employees and agents or its subcontractors including, but not limited to, any claims that may be made by the employees themselves for injuries to their person or property or otherwise. Such indemnity shall not be limited by reason of the enumeration of any insurance coverage herein provided. Nothing contained herein shall be construed as prohibiting the City, its directors, officers, agents, or its employees, from defending through the selection and use of their own agents, attorneys and experts, any claims, actions or suits brought against them. The Vendor shall likewise be liable for the cost, fees and expenses incurred in the City’s or the Vendor’s defense of any such claims, actions, or suits. PAYMENT TERMS AND CONDITIONS: The City’s payment terms are Net 30 days. The City is exempt from Missouri sales and use taxes and will not pay taxes for any product or service. A copy of the City’s tax-exempt certificate shall be presented to the firm or company that is awarded a contract. Inquiries concerning this Request for Proposals shall be directed to: Julie Moellering Purchasing Agent City of O’Fallon, Missouri 100 North Main Street O’Fallon, Missouri Phone: (636) 379-5527 Fax: (636) 978-4144 jmoellering@ofallon.mo.us END OF TERMS AND CONDITIONS mailto:jmoellering@ofallon.mo.us RFP #20-082 8 CITY OF O’FALLON, MISSOURI SCOPE OF SERVICES Minimum Qualifications Financial institutions submitting a proposal must be: 1. A federal or Missouri chartered bank with a branch location within the City’s limits or closely situated. There must be some form of presence of the bank within the City’s limits. 2. A member of the Federal Reserve System. 3. A licensed business of the City of O'Fallon, Missouri. 4. Enrolled in a federal work authorization program operated by the US Department of Homeland Security, such as E-Verify, to verify the employment eligibility of newly hired employees working in connection with any services contracted by the City of O’Fallon, MO. The City’s deposits, averaging approximately $50 million, must not comprise more than ten percent (10%) of the total deposits of the bank. The bank must have adequate facilities, organization, equipment and personnel to insure prompt and efficient services to the City. The bank must be authorized to conduct banking operations in the State of Missouri and must be in compliance with all federal and Missouri regulatory agencies. Any exception to the Scope of Services must be identified in the proposal. Description of Current Banking Services This section is intended to briefly describe the City’s current banking services. As the future demands on the City’s resources change, the banking services will be periodically evaluated to ensure effective and efficient operations are maintained. The City utilizes the zero-balance account concept. This system establishes one concentration or control/sweep account, multiple operating or subsidiary accounts, and several independent accounts. The bank’s computer system links the subsidiary accounts to the control/sweep account. The subsidiary accounts have zero balances at the end of each day (daily sweep). Daily transaction activity in the subsidiary accounts is offset by transfers to/from the control/sweep account to/from the General & subsidiary accounts at the end of each day. All accounts may be interest bearing, unless restricted by federal regulation or otherwise specified by the City. Deposits in excess of the coverage provided by the federal insurance (ie; FDIC), should be collateralized by the bank in excess of one hundred four percent (104%) of market value in U.S. Treasury, U.S. Government Agency obligations, or an irrevocable standby Letter of Credit issued by a Federal Home Loan Bank. The City’s current account structure includes one Control/Sweep account (Investment Account), four operating/subsidiary accounts, four independent accounts and a Letter of Credit. The four operating/subsidiary accounts are interest bearing. Three of the accounts zero out every night to the General Account. The General Account then ‘sweeps’ to the Control/Sweep account all but a target of $200,000. RFP #20-082 9 Three of the independent accounts are interest bearing. The Municipal Court account is non-interest bearing, due to federal regulations. A chart of the accounts is shown next. Independent Accounts At this time, the City holds the bulk of its funds in the General Account. The balance is in an Overnight Repurchase account and in ICS Accounts and other allowable investments for the City. Monies are transferred to and from the Repo and ICS Accounts based upon the activity of the General Account. Each night, the Recreation, Payroll and Utility accounts zero out (or sweep) to the General Account. Required Services The following services are essential to the City’s operations. The City reserves the right to issue written addenda if revisions or additions are necessary. Grant Seizure Account (Interest Bearing) Security Features: Block Checks ACH Filters Municipal Court Account (Non-Interest Bearing, deposits & checks) Security Features: Positive Pay ACH Filters Bond Project Account(s) (Interest Bearing) Security Features: Block Checks ACH Filters Recreation Account (zero out nightly) Security Features: Block Checks ACH Filters Payroll Account (zero out nightly) Security Features: Positive Pay ACH Filters Utility Account (zero out nightly) Security Features: Block Checks ACH Filters General Account (deposits & checks) Security Features: Positive Pay ACH Filters Control/Sweep Related Accounts RFP #20-082 10 Availability of Funds The City will deposit funds daily until 3:00 p.m. for credit the same day. The City will receive credit the same day for incoming wire transfers, regardless of time of receipt during the day. Banks should provide an availability of funds schedule proposing criteria for “same day” and “next day” funds for checks drawn on various banks. For example, checks drawn on the City’s depository bank, “on-us” items, should be considered “same day.” General Account Transactions The General Account is an interest bearing account and should accept cash & check deposits, ACH transactions, and wire transfers. The account is also used to issue checks, send ACH transactions and send Wire requests. Security features on this account should include Positive Pay and ACH Filters. Recreation Account ACH Transactions The Recreation Account should accept cash & check deposits, and ACH transactions. The Recreation Account utilizes an auto debit program allowing the City to initiate ACH transactions from customer accounts with proper authorization (memberships). There are no checks cut from this account. Security features on this account should include the ability to block checks from being cut from this account and ACH Filters. Utility Account ACH Transactions The Utility Account should accept cash & check deposits, and ACH transactions. The Utility Account also utilizes an auto debit program allowing the City to initiate ACH transactions from customer accounts with proper authorization (water/sewer/waste pick-up services). This account also utilizes lockbox services for bill payments through an existing vendor. The lockbox services are not part of this bid. There are no checks cut from this account. An ACH is initiated from this account to transfer the balance from the lockbox on a monthly basis. Security features on this account should include the ability to block checks from being cut from this account and ACH Filters. Payroll Account Direct Deposit The payroll direct deposit program electronically wires (ACH) an employee’s net pay to a bank account(s) designated by the employee. City employees are required to use the payroll direct deposit program, but new hires and changes sometimes require checks to be cut. Security features on this account should include Positive Pay and ACH Filters. Payroll direct deposit information is transmitted electronically from the City’s payroll department to the depository bank for disbursement to employees’ accounts. City employees rely on the timeliness and accuracy of this process, therefore the bank must immediately notify the City’s payroll department of any problems with direct deposit transactions. The City currently initiates requests on Thursday by 3:00 p.m. for a Friday 8:00 a.m. payroll. It is very beneficial to the City to have until Thursday to process payroll. Municipal Court Accounts The Municipal Court Account should accept cash and check deposits. This account should be separated from all other monies of the City and may need to be in a non-interest-bearing account. Debit transactions are in the form of checks for this account. Security features on this account should include Positive Pay and ACH Filters. This account will also have separate signors as required by state statute. Grant Seizure Account The Grant Seizure Account is an interest-bearing account that should accept check deposits, ACH transactions, and wire transfers. The account is used to send ACH transactions and send Wire requests. Security features on this account should include the ability to block checks from being cut from this account and ACH Filters. RFP #20-082 11 Repurchase Agreement Account (optional) The Repurchase Agreement Account should accept transfers to and from the General Account and could be used in the event of an overdraft in the General Account. This account is used for diversity of investment type and could hold up to 80% of the City’s funds. Security features should lock this account down to sweep and transfer from other funds only. Letter of Credit (optional) The Letter of Credit is required since the City is self-insured. Investment Advisory Services (optional) The bank should provide information and recommendations on available investments, rates and maturities. When providing investment advice, the bank will adhere to the City’s investment guidelines to preserve capital, maintain liquidity and maximize yield. The City is specifically limited to investments authorized by the Revised Statutes of Missouri (the “RSMo”) Chapter 110 and other applicable statutes. The City will not purchase securities maturing in more than sixty (60) months and will diversify its investment portfolio to avoid reliance on any one instrument. Investment confirmation statements will be mailed to the City following each purchase and sale transaction. The bank should have a safekeeping service available for City investments. Safekeeping of investments must maintain Category 1 status per generally accepted accounting principles. This includes investments that are insured or registered and held by the City or its agent in the City’s name. A statement listing the City’s investments held in safekeeping will be mailed/available monthly by the bank. Transactions to purchase U.S. government obligations, repurchase agreements and certificates of deposit through the bank should be performed at no cost to the City. Electronic Transfers The City considers all incoming wire transfers received by the bank prior to 5:00 p.m. as funds available for investment on the day of receipt. The bank will promptly update the City’s account allowing the City the ability to verify funds are properly posted. Outgoing wire transfers should be executed by the bank within one hour of notification by the City. The bank is responsible for wires ordered but not received by the destination party. The City utilizes ACH transfers (NACHA format) for payment of some accounts payable transactions and for receipt of utility payments and recreation memberships through auto-debit. All out-bound transactions should require dual control to process. Computer Requirements The bank will provide a list of equipment, including both hardware and software, necessary for the City to access on-line services. If training is required for City employees to become proficient with on-line services, it should be provided at no cost to the City. The bank’s computer system must be capable of receiving data files transmitted from the City’s computer system. This is essential to the Payroll direct deposit program, General accounts payable and the auto debit transactions used by the Recreation, and Utility accounts. The bank should indicate current and anticipated computer system upgrades or conversions and its capacity and availability for other customer services. If the bank relies on service bureaus or consulting firms for services related to the City’s accounts that are not performed internally, the name of the company, service provided, and contact personnel should be disclosed. RFP #20-082 12 Night Depository Service The City must be able to deposit funds after normal business hours at a bank location that is safe and accessible. Deposits will be made in secure bags, pouches or envelopes supplied by the bank. The night depository should place a time and date stamp on the outside of the deposit upon receipt. Bank employees, under dual control, will open, verify and record the amount of the deposit. A City employee will receive a receipt for the deposit on the next business day. Service Charges Service charges will be evaluated according to responses on the proposal forms submitted by competing banks. Service charges presented by the bank on the proposal form should be fixed for the five-year term of the depository contract. No-Charge Services The bank should identify all courtesies and no-charge services that are offered to its customers. For example, the City desires money bags or pouches for transporting deposits, pre-printed two-part deposit slips, two-party checks (laser printer checks), self-inking endorsement stamps, money orders and cashier checks for use in official City business, etc. Collateral Requirements Deposits of City funds are to be collateralized by the bank in accordance with RSMo. sections 110.010, 110.020 and 30.270. All City funds held on deposit, including repurchase agreements should be collateralized in excess of one hundred four percent (104%) of market value in U.S. Treasury and U.S. Government Agency obligations. Collateral must be held by the City or by a third party for the City (preferably the Federal Reserve). Account Maintenance Daily Reports The City should be able to pull a single report that details the previous day(s) transaction processed and provide the daily ending balance for each City account. The detail report will list every deposit, cleared check, ACH transaction, returned item, etc., separately. This report should be available via on-line access by the City by 8:00 a.m. the next business day. This will allow the City to analyze cash requirements for checks clearing City accounts at the first presentment of the day. In addition, the City may request balance information after the day’s final presentment to determine funds available for investment. The City should receive statements of overnight investment activity by mail, e-mail or facsimile within the third business day. Monthly Statements Monthly bank statements for each account will be for the full calendar month and will be available via on- line access, to the City’s Finance Department within five business days after the end of the month. For all City checking accounts, the bank will provide a reconciliation report listing checks cleared in numerical order. Canceled checks, or photocopied images (front and back), will be included with the monthly statements or provided separately on a monthly basis. For all City accounts, the bank will provide a reconciliation report showing deposits and withdrawals. A monthly service charge report will be available (mail or internet access) to the City within ten business days after the end of the month. This analysis will show detail of all charges and the related services performed by the bank. Access to Records and Cooperation The City, or its authorized representative, must have access to records maintained by the bank. At all reasonable times, the bank must be willing to cooperate for purposes of inspection or review of records to include all memoranda, checks, correspondence, agreements and other documents pertaining to the RFP #20-082 13 accounts of the City. Such records should be preserved by the bank as required by applicable regulatory authorities. New Accounts and Services If the City requires new accounts during the life of the depository agreement, the bank will provide the accounts under the same conditions and terms that apply to existing accounts. Any new services added by the City during the life of the depository agreement will be subject to the bank’s terms and charges in effect at that time. The City makes every effort to keep its cash management operations current with financial market changes and technological developments. The bank should be willing to discuss new innovations and procedures that may be useful to the City. The City’s use of any new service is contingent on cost and feasibility. Designated Support Personnel The bank should assign an account executive or relationship manager to manage all aspects of the City’s banking services. This designated person will be the City’s liaison for all bank related questions. This person will be responsible for set up, training and implementation of the City’s account with the bank. The City should also have a designated person for all questions after implementation. Resumes are requested for all key bank employees assigned to the City’s accounts. The City must have an emergency contact for all non-business hours. Guaranteed Minimum Interest Rate The bank will guarantee a minimum interest rate to be paid on the City’s General Account or Repurchase Agreements or other investment type accounts. This would represent the minimum interest rate that the City’s funds would earn while held in the Account(s) overnight. The guaranteed minimum interest rate must be expressed on the proposal form as a percentage of a rate index commonly quoted in daily financial publications. The bank must clearly identify the rate index, percentage and any other components used to formulate the guaranteed minimum interest rate. The bank must present a history of what the guaranteed minimum interest rate would have been on the last business day of the previous six months. Unless the City requests additional services, the bank will not be permitted to add new service charges after the execution of the depository agreement. Explanation of Proposal Forms Proposals must be submitted in the format presented in Appendix A. The proposal form, or copy thereof, must be complete for all items. If the bank is unable to meet or exceed the requirements specified, the phrase “No Proposal” should be entered for that particular item. Unit charges for banking services are to remain fixed for the five-year term of the depository contract. To avoid misinterpretation or illegible responses, the proposal form should be typewritten. Alternate Proposals Proposals may deviate from the City’s stated banking service requirements provided they are clearly identified as an “Alternate Proposal”. The bank must demonstrate that the deviations from the stated requirements will substantially improve the City’s cash management operations. RFP #20-082 14 Formal Presentations and Facility Evaluations Prior to awarding the contract, the City may require a formal presentation by bank representatives to discuss and clarify proposal details. As part of the selection process, the City may perform facility evaluations to verify compliance with specifications regarding building location and features, equipment and personnel. Additional Services In the Appendix A, the City has outlined some areas the bank may be able to provide additional services. These services should be considered separate from the ‘Banking Services’ proposal since they do not need to be provided by the same bank. If there is any savings if the Bank Services and the Additional Services are with the same provider, please note. Some of the Additional Services proposals requested by the City include, ‘Check Printing Services’, ‘Armored Car Services’, ‘Custodial Services’ and ‘Investment Options’. The bank is encouraged to include more information on other services the bank can provide that may benefit the City’s financial services and accounting processes. RFP #20-082 15 APPENDIX A PROPOSAL FORM Signature of proposer indicates that the proposer understands and will comply with all terms and conditions and all other specifications made a part of this Request for Proposals and any subsequent award or contract. All terms, conditions and representations made in this invitation will become an integral part of the contract. In compliance with this Request for Proposal Number 20-082 and to all the conditions imposed herein, the undersigned offers and agrees to provide banking services for the City of O’Fallon in accordance with the scope of services and intent of the request for proposals contained herein. Proposal Form shall be attached to respondent’s proposal. Indicate whether: ( ) Individual; ( ) Partnership; ( ) Corporation Incorporated in the State of: General Information Name of Bank: Address: Website Address:_________________________________________________________ Federal Tax Identification Number: Name of Official Completing the Proposal: Title: Telephone Number: E-mail address:_______________________________________________ Signature: _____ Date: _____ Name of Alternate Contact Person: Title: _____ Telephone Number: RFP #20-082 16 Information About the Bank Type of bank (federal or Missouri State Charter): Is the bank federally insured via FDIC? Yes No Deposits are Federally insured up to: Is the bank a member of the Federal Reserve System? Yes No Does the bank have access to “on-line” services with the Federal Reserve System’s computer system? Yes No Does the bank offer “on-line” account services? Yes No If “Yes” can the on-line services be granted at varying levels of authority to City personnel? Yes No Is the bank an Authorized Public Depository? Yes No If “No” is checked, does the bank understand it must become an Authorized Public Depository? Yes No Does the bank have a current City of O'Fallon business license? Yes No If “No” is checked, does the bank understand it must obtain a business license? Yes No Indicate the number of full-service branches in the following locations (do not include Automated Teller Machine locations): City of O’Fallon: St. Charles County: State of Missouri: Attach a list of full-service branch locations, virtual and automated branch locations including business hours and if night depositories are available. Is the list of branches attached? Yes No Include a copy of the bank’s most recent audited financial statements or link to this if available on-line. If the bank is owned by a holding company, include consolidated statements. Are requested statements included? Yes No Include an availability of funds schedule for the clearing of deposits. At a minimum, the bank’s response should address the number of days required for checks to clear if originated from one of RFP #20-082 17 its customers, other local banks, state banks, U.S. Government Agencies and interstate checks. Is the schedule included? Yes No For a cash deposit to be considered “same day” funds, it must be deposited at the bank by what time of day? What is the deadline for the City to initiate a payroll direct deposit file in order to credit our employee accounts on a Friday by 8:00 a.m.? Please give day of week and time of day: _________________________ Does the bank have a Disaster Recovery plan? Yes No If ‘Yes’ what was the date adopted and last updated? _______________ Does the bank have policies related to COVID? Yes No If ‘Yes’ can you explain the notification and process? _______________ Is the bank an Equal Opportunity Lender? Yes No Experience With Public Entities If the bank provides banking services to local public entities, list the name of the entity, contact person and telephone number. Emphasize local municipalities receiving services similar to those being proposed for the City of O’Fallon. If the space below is not sufficient, attach a list. Name of Entity: Contact Person: Telephone Number: Name of Entity: Contact Person: Telephone Number: Name of Entity: Contact Person: Telephone Number: Name of Entity: Contact Person: Telephone Number: RFP #20-082 18 Pending Matters Is there any major litigation pending against the bank? Yes No If “Yes” is checked, will the resolution of this matter impact the bank’s ability to function as depository for the City of O’Fallon? Yes No Is the bank involved in any pending acquisitions, consolidations or mergers that will impact the bank’s ability to operate as depository for the City of O’Fallon? Yes No Are there any matters or circumstances that would prevent the bank from entering into a contract or performing services for the duration of the contract? Yes No If “Yes” is checked, please explain. Sample Contracts The bank must provide its standard depository, repurchase and custodial agreements and any other applicable agreements. These contracts are for review and informational purposes only. Submittal of these contracts will not obligate the bank in any manner. Is the bank’s standard depository agreement attached? Yes No Is the bank’s standard repurchase agreement attached? Yes No Is the bank’s standard custodial agreement attached? Yes No RFP #20-082 19 Guaranteed Minimum Interest Rate Identify the rate index and percentage of that index the bank will use to determine the guaranteed minimum interest rate. Using the indicated rate index and percentage, show the guaranteed minimum interest rate as of the last day of the previous six months. Include all calculations and assumptions. Rate Index: Percentage of Rate Index: __________________________ Guaranteed Minimum Interest Rate as of: (Please provide six consecutive months) June 30, 2020_ July 31, 2020________ August 31, 2020______________________ September 30, 2020 ______ October 31, 2020 November 30, 2020 In the space provided below, detail all calculations and assumptions used to determine the guaranteed minimum interest rate. If this space is not sufficient, attach and clearly identify a separate page. RFP #20-082 20 Additional Information Banks are encouraged to submit a statement explaining the distinguishing features of its proposal from the competitors. The statement should address why it would be in the City’s best interest to select the bank. This is an opportunity for the bank to highlight the business elements, such as services, products, personnel or facilities that give the bank a competitive advantage. Banking Activity Analysis The attached Appendix B is a consolidated analysis indicating the services and estimated monthly activity for all bank accounts operated by the City. The bank must indicate unit charges and total charges for the initial three-year term and the two additional, one-year extensions. If the bank charges for services other than those listed on the following page, the total of those items should be entered on the “Other Charges” line located on the last page of Appendix B. Charges included in “Other Charges” should be itemized on a separate page and attached to the proposal form. The bank will not be permitted to charge for any services other than those identified in its proposal, unless the City requires services not specified in the request for proposals. The City requires insufficient funds checks to be presented for clearance once before being returned. Banking Services Questionnaire The bank should provide a summary of applications and proposed costs relative to the banking services listed below. The bank’s response should be attached to the proposal form and titled “Banking Services Questionnaire.” Please reference the question number in your response. 1. Describe the services the bank can provide to assist the City in public funds cash management. 2. Describe the services the bank can provide for payment to vendors through electronic funds transfer. 3. Describe the bank’s payroll direct deposit program’s features, limitations and requirements. Include time frame and input requirements from the City. 4. Describe the type of services the bank can provide when the City issues bonds, notes or lease obligations. 5. Describe the options and limitations the bank offers for the lease of machinery and equipment. 6. Propose any new financial services or product innovations that may benefit the City. 7. Describe the bank’s wire transfer department, including location, management, key personnel and normal cut-off time for outgoing wires. 8. Describe the bank’s account reconciliation department, including location, management, key personnel and phone numbers. 9. Propose a time schedule for implementation if the City awards the contract to the bank. The schedule is for informational purposes and will not obligate the bank. 10. Provide any additional information that may distinguish the bank services. RFP #20-082 21 Banking Services Questionnaire 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) RFP #20-082 22 Additional Services Please provide service fees for the additional services listed below along with other services the bank can offer that may benefit the City. Check Printing Services The City will need checks that will feed through our laser printers. If the Bank does not include this as a no charge item within the Banking Services bid, the City will need to bid this out separately. Auto-Check Clear Services The City may be interested in an auto-check clearing system that would process checks on site, thus reducing the number of checks actually sent into the bank for clearing. Armored Car Services The City may be interested in other means of securely transporting deposits from the various locations to the bank on a daily, weekly or temporary basis. Investment Options The City invests in government back and FDIC insured investments such as Treasuries, Agencies, Certificate of Deposits (not to exceed FDIC limits), etc. From time to time the City will request bids for specific maturities. Please outline the fees generally charged if an investment is purchased and held at the bank, such as wire fees, broker fee or commission, etc. Also include any investment options the bank may have access to offer such as ICS, MOSIP, etc. Custodial Services If the bank has a safekeeping service available for City investments, this safekeeping of investments must maintain Category 1 status per generally accepted accounting principles. This includes investments that are insured or registered and held by the City or its agent in the City’s name. A statement listing the City’s investments held in safekeeping will be mailed/available monthly by the bank. The City would reserve the right to purchase investments through other banks or financial institutions when more attractive rates of return are available. Evaluation Criteria: The City will award the banking services contract to the bank which demonstrates the ability to perform the highest quality service at the lowest cost. Proposals will be evaluated using the criteria listed below. • Guaranteed minimum interest rates on deposits and investments. • Cost of banking services. • Quality and extent of services and products available. • Financial stability of the bank. • Compliance with proposal specifications. • The City’s previous experience with the bank. • Location and quantity of full-service and virtual bank branches. • Financial services available beyond those required in the proposal. • Creditworthiness of the bank. END OF SCOPE OF SERVICES RFP #20-082 23 WORKER ELIGIBILITY VERIFICATION AFFIDAVIT STATE OF __________________ ) ) ss COUNTY OF ________________ ) On the _____ day of _______________, 20____, before me appeared _____________________________, Affiant name personally known to me or proved to me on the basis of satisfactory evidence to be a person whose name is subscribed to this affidavit, who being by me duly sworn, stated as follows: • I, the Affiant, am of sound mind, capable of making this affidavit, and personally certify the facts herein stated, as required by Section 285.530, RSMo, to enter into any contract agreement with the City to perform any job, task, employment, labor, personal services, or any other activity for which compensation is provided, expected, or due, including but not limited to all activities conducted by business entities. • I, the Affiant, am the _______________ of ______________________________, and I am duly title business name authorized, directed, and/or empowered to act officially and properly on behalf of this business entity. • I, the Affiant, hereby affirm and warrant that the aforementioned business entity is enrolled in a federal work authorization program operated by the United States Department of Homeland Security, and the aforementioned business entity shall participate in said program to verify the employment eligibility of newly hired employees working in connection with any services contracted by the City of O’Fallon. I have attached documentation to this affidavit to evidence enrollment/participation by the aforementioned business entity in a federal work authorization program, as required by Section 285.530, RSMo. • I, the Affiant, also hereby affirm and warrant that the aforementioned business entity does not and shall not knowingly employ, in connection with any services contracted by the City, any alien who does not have the legal right or authorization under federal law to work in the United States, as defined in 8 U.S.C. § 1324a(h)(3). • I, the Affiant, am aware and recognize that, unless certain contract and affidavit conditions are satisfied pursuant to Section 285.530, RSMo, the aforementioned business entity may be held liable under Sections 285.525 through 285.550, RSMo, for subcontractors that knowingly employ or continue to employ any unauthorized alien to work within the state of Missouri. • I, the Affiant, acknowledge that I am signing this affidavit as a free act and deed of the aforementioned business entity and not under duress. ________________________________ Affiant Signature Subscribed and sworn to before me in ______________________, _____, the day and year first above-written. city (or county) state My commission expires: ______________________________________ Notary Public [Attach documentation of enrollment/participation in a federal work authorization program] RFP #20-082 24 APPENDIX B Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate OPERATING GENERAL Stop Payment Fee - Online 21 Maintenance Fee 12 DEPOSITORY SERVICES Ledger Credit 856 ACH Prenotification Credit 4 ACH Received Credits 1,473 Check Paid 6,336 Chargeback (return checks) 11 ACH Received Debits 637 Zero Balance Acct Maintenance 0 On-Us Items Deposited 253 Transit Items #1 4,695 Cash In 436,329 Canadian Item 1 ACH SERVICES ACH Prenotification Debit 4 ACH Origination BeB Template 92 ACH Origination Night Cycle Surcharge 1,511 ACH Same Day - File Upload 5 BeB Total Same Day ACH Transaction 0 ACH Originated Night Cycle Surcharge 2,052 ACH Incoming NOC(Notification of Change) 1 RFP #20-082 25 Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate ACH Origination Direct File Upload 0 ACH Origination BeB File Upload 3,589 ACH Incoming Returns 0 EDI Received - Per Addenda Record 92 ACH POS Pay - One Time Set up 4 ACH POS Pay - Monthly 12 ACH POS Pay - Per Suspect Tran Fee 7 ACH POS Pay - Per Instance Acct Mtc 0 EDI SERVICES EDI Received Trans Fee BeB 1,936 Wire Transfer Services Incoming Wire Transfer 3 Outgoing Wire Transfer 23 Outgoing Wire Transfer Via BeB 2 Business Electronic Banking Services BeB EDI Service 24 BeB Premium - Nbr of Accts 84 BeB Payee Positive Pay Check Issues 6,662 BeB Payee Positive Pay Service 36 BeB Payee Positive Pay Exceptions 5 BeB POS Pay Check Issues 6,662 BeB POS Pay Check Manual Issues 0 BeB Traditional POS Pay Exception 7 RFP #20-082 26 Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate BeB Traditional POS Pay Per Account 36 BeB Partial Account Recon Monthly 36 BeB ACH Positive Pay 84 BeB ACH Ccd Collection Alc Np 1 BeB Premier Package 12 BeB Wire Origination Module 1 BeB Image Search 70 NACHA Rules/Regulations book on CD (Annual) 1 RECREATION Maintenance Fee 12 DEPOSITORY SERVICES Ledger Credit 1,478 ACH Prenotification Credit 3 ACH Received Credits 796 Deposit Items Returned 2 ACH Received Debits 83 Zero Balance Acct Maintenance 12 On-Us Items Deposited 10 Transit Items #1 516 Cash In 371,940 Cash Out 50 ACH SERVICES ACH Prenotification Debit 3 ACH Incoming NOC(Notification of Change) 17 ACH Incoming Returns 25 RFP #20-082 27 Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate ACH Originated Night Cycle Surcharge 5,548 ACH Origination BeB Template 0 ACH Origination BeB File Upload 6,230 ACH Unauthorized Returns 0 ACH POS Pay - One Time Set up 1 ACH POS Pay - Monthly 12 ACH POS Pay - Per Suspect Tran Fee 3 ACH POS Pay - Per Instance Acct Mtc 0 EDI SERVICES 0 EDI Received Trans Fee BeB 915 PAYROLL Stop Payment Fee - Online 0 Maintenance Fee 12 DEPOSITORY SERVICES 0 Checks Paid 614 ACH Received Debits 27 Zero Balance Acct Maintenance 12 ACH SERVICES ACH Originated Night Cycle Surcharge 20,679 ACH Incoming NOC(Notification of Change) 6 ACH Origination BeB File Upload 21,029 ACH Incoming Return 0 ACH POS Pay - Monthly 12 EDI SERVICES EDI Received Trans Fee BeB 5 Years 1-3 Year 4 Year 5 RFP #20-082 28 Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Business Electronic Banking Services 0 BeB Payee Positive Pay Check Issues 609 BeB Payee Positive Pay Exceptions 2 BeB Positive Pay Check Issues 621 BeB POS Pay Check Issues 0 BeB Traditional POS Pay Exception 1 BeB POS Pay Check Manual Issues 0 UTILITIES Maintenance Fee 12 DEPOSITORY SERVICES Ledger Credit 705 ACH Prenotification Credit 2 ACH Received Credits 463 Deposit Items Returned 91 Reroute of Returns 0 ACH Received Debits 33 Zero Balance Acct Maintenance 12 On-Us Items Deposited 456 Transit Items #1 15,216 Cash In 330,041 ACH SERVICES ACH Prenotification Debit 2 ACH Origination BeB Template 0 ACH Incoming NOC(Notification of Change) 6 RFP #20-082 29 Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate ACH Incoming Returns 53 ACH Originated Night Cycle Surcharge 17,919 ACH Origination BeB File Upload 18,504 ACH Unauthorized Returns 2 ACH POS Pay - One Time Set up 1 ACH POS Pay - Monthly 12 ACH POS Pay - Per Suspect Tran Fee 2 ACH POS Pay - Per Instance Acct Mtc 0 EDI SERVICES EDI Received Trans Fee BeB 500 SEIZURE Maintenance Fee 12 DEPOSITORY SERVICES Ledger Credit 0 ACH POS Pay - Monthly 4 ACH Received Credits 21 Transit Items #1 0 Wire Transfer Services Incoming Wire Transfer 0 BONDS Maintenance Fee 12 ACH SERVICES ACH POS Pay - Monthly 0 MUNICIPAL COURT Stop Payment Fee - Online 0 Maintenance Fee 12 Miscellaneous 0 RFP #20-082 30 Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate DEPOSITORY SERVICES Ledger Credit 270 Check Paid 833 On Us Items 3 Transit Items 294 Cash In 357,224 ACH SERVICES ACH POS Pay - Monthly 11 Wire Transfer Services Incoming Wire Transfer 0 Business Electronic Banking Services BeB Payee Positive Pay Check Issues 1,102 BeB Payee Positive Pay Exceptions 3 BeB Positive Pay Check Issues 0 BeB POS Pay Check Issues 913 BeB Traditional POS Pay Exception 1 Earnings Credit OTHER Accounts or Fees 1,649,714 OPERATING GENERAL RFP #20-082 31 Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate RECREATION PAYROLL UTILITIES MUNICIPAL COURT BONDS SEIZURE Additional Services Check Printing Deposit slips Deposit bags (locking and/or disposable) Armored Car Services RFP #20-082 32 Years 1-3 Year 4 Year 5 Service Description Estimated Annual Qty Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate Cost per Occurrence Monthly Estimate