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  • 1. CREATING A GREAT BANKING RFP Government Perspective SEAN POLLAND, CFA TREASURY MANAGER ORANGE COUNTY COMPTROLLER’S OFFICE
  • 2. Agenda
    • Project Timetable
    • Establish Committee
    • Write RFP
    • Issue & Advertise
    • Preproposal Conference
    • Evaluation and Selection
  • 3. Project Timetable 06/30/09 Current Contract Expires 03/30/09 Negotiate Contract/Implementation 03/27/09 Submit to Board 02/28/09 Evaluate Responses/Recommendation 02/21/09 RFP Responses Due 02/07/09 Pre-proposal Conference 01/21/09 Issue RFP/Advertise 01/19/09 Finalize RFP Document 01/08/09 Establish RFP Committee Deadline Task
  • 4. Establish RFP Committee
    • Committee Chair
    • Cash Manager
    • Fiscal Administration
    • Accounting
    • Others
  • 5. Writing RFP
    • Objectives
    • Scope of Services
    • Terms and Conditions
    • Proposal Instructions
  • 6. Objectives
    • Sealed proposals from qualifying banks to provide comprehensive banking services.
    • To enter into a contract for all requested services from one bank.
    • Range of services shall include collection and deposit, concentration and disbursement, and balance compensation/investment services.
  • 7. Scope of Services
    • Contract period
    • Bank qualifications
    • Contract structure
    • Account structure
    • Collection and deposit services
    • Concentration and disbursement services
    • Account maintenance
    • Account analysis
    • Balance compensation
    • Other services
  • 8. Contract Period
    • Term of contract
    • Optional renewals
    • Timetable of transition, conversion and implementation of operations
  • 9. Bank Qualifications
    • QPD – Chapter 280, FL Statutes
    • Bank financial strength
    • Geographic proximity
  • 10. Contract Structure
    • Master banking and treasury management agreement
      • Supplemental agreements:
        • Wire transfer agreement
        • ACH service agreement
        • Cash vault service agreement
        • Lockbox agreements
        • Winning proposal shall become an integral part of master agreement
  • 11. Account Structure
    • Number of bank accounts
    • Collection and deposit accounts
      • Pooled accounts
      • Enterprise funds
      • ACH and fedwire receipts
      • Construction, P&I and bond reserves
    • Concentration and disbursement accounts
      • Check clearing (payroll, general and other)
      • EFT disbursements
  • 12. Collection and Deposit Services
    • Funds availability
      • Ledger cutoff time
      • Deposit deadlines
      • Collected balances: ACH, wires, “on us” checks
    • ACH and wire transfers
    • Returned items
    • Merchant services
    • Wholesale and retail lockbox
  • 13. Merchant Services Transactions Card not present/Retail 211,745 $17,007,979 Public Utilities Card not present/Retail 27,476 $805,682 Solid Waste Card not present/Retail 323 $32,210 Mandatory Refuse Card not present 33 $8,365 Great Oaks Village Card not present/Retail 1,032 $142,073 Fire Rescue Service Card not present/Retail 26,315 $5,559,723 Convention Center Retail 22,608 $203,733 Convention Ctr Parking Card not present/Retail 607 $139,833 Community Corrections Card not present/Retail 1,210 $49,908 Cashier’s Office Card not present/Retail 12,421 $5,819,766 Building Division Card not present/Retail 2,928 $130,125 Animal Services Processing Mode Transactions Sales Merchant
  • 14. Lockbox Specifications By 2:00 P.M. Deposit Processing Specifications Service Fax of deposit summary Electronic Reporting CD Envelopes/Stubs/Check Copies Forward to County Foreign Items Accept Cash Use script Different Amounts Forward to County Stale Dated Items Accept if less than 2 days Postdated Items Accept Undated Items All Acceptable Payee By 9:00 A.M. Pickup Time By Bank Box Collection
  • 15. Concentration & Disbursement Services
    • Fraud Control
      • ACH block
      • ACH control
    • Positive pay services
    • Check reconciliation
    • Stop payment
    • Wire transfers
  • 16. Account Maintenance
    • Electronic banking
      • Windows NT/XP Professional Environment
      • Explorer 7.0 or later
      • 128-bit encryption technology
    • Account analysis statement
    • Earnings credit
      • Interest earning DDA
      • Now account
      • Overnight repo
      • Money market mutual fund
    • Monthly statements
    • Overdrafts – Daylight and overnight
  • 17. Account Analysis
    • Monthly account analysis statement
      • Services rendered
      • Service volume
      • Unit costs
      • Compensation (direct payment or debit)
      • Services and supplies not included in proposal shall be provided free of charge
  • 18. Balance Compensation
    • Earnings credit
      • Average collected balance
        • Net of reserve requirement
        • Gross of reserve requirement
      • Credit rate
        • Spread on reference rate (i.e., fed funds)
        • Minimum credit rate
      • Request a sample earnings calculation
  • 19. Sample ECR Calculation $31,630 Earnings credit 0.1699% 31/365 Applied to December 2% Earnings credit rate (e.g., fed funds) 18,620,617 Net collected balance 2,068,957 Reserve requirement @ 10% $20,689,575 Average monthly collected balance
  • 20. Other Services
    • Cash vault
    • Workplace banking
    • Imaging services
    • Relationship management
    • Privacy
  • 21. Terms & Conditions
    • Require use of response forms
    • Number of copies
    • Sealed proposals by deadline
    • Lobbying blackout
    • Proposal opening
    • Cancellation or postponement
    • Corrections
    • Acceptance and withdrawals
    • Evaluation
    • Award
    • Protest
    • M/WBE ordinance
    • Litigation statement
    • Drug-free workplace
  • 22. Response Forms
    • Bank Information Response Form
    • Objectives and Scope of Services
    • Pro forma Account Analysis
    • Proposer’s Warranty
    • Employment Data, Schedule of Minorities and Women
    • Schedule of Subcontracting – M/WBE Participation
    • Conflict/Non-Conflict of Interest Statement and Litigation Statement
    • Drug-Free Workplace Form
  • 23. Required Attachments to RFP
    • Implementation schedule
    • Evidence of QPD status
    • Evidence of status as a top 50 bank
    • Map of branch locations; cash vault confirmation
    • Deposit deadline schedules
    • Funds availability schedule; float computation
    • Pro forma agreements
    • Earnings credit calculation
    • Names & vitae of bank officers
    • Bank privacy policy
    • Prospective service described
    • Audited financial statements for past two years
    • Bank references
    • Bank exceptions
  • 24. Issue RFP & Advertise
    • Issue to all qualified banks in area
    • Advertise in local newspaper
    • Post RFP on website
  • 25.
    • REQUEST FOR PROPOSALS
    • FOR
    • COMPREHENSIVE BANKING SERVICES
    • The Orange County Comptroller (Comptroller) requests sealed proposals from qualifying banks to provide the Orange County Board of County Commissioners and her office (together as County) comprehensive banking and treasury management services. The County will enter into a contract for all requested services with a single bank.
    • The range of services includes collection and deposits, concentration and disbursement, account maintenance, and overnight investment services. The Comptroller issues this RFP in her capacity as chief financial officer of the County.
    • A mandatory preproposal conference for proposers is scheduled Wednesday, February 7, 2009, at 2:00 PM, at the Orange County Administration Center, 201 S. Rosalind Avenue, Orlando, Florida in the Comptroller’s Conference Room A; located on the 4th Floor. Interested bidders must attend.
    • Sealed proposals must be received in the office of the Clerk of the Board of County Commissioners, Orange County Administration Center, 201 S. Rosalind Avenue, 4th Floor, Orlando, Florida 32801, no later than 4:00 PM, Wednesday, February 21, 2007. For further information or a copy of the RFP, contact Sean Polland at 407-836-5755.
  • 26. Pre-proposal Conference
    • At least two weeks prior to proposal due date
    • Request confirmation of attendance
    • Provide opportunity to ask questions
    • Receive clarifications from procurement committee
    • Communication blackout period after conference
  • 27. Evaluation
    • Sample award criteria:
      • Service capability: 25%
      • Quality: 25%
      • Cost: 40%
      • Compliance with M/WBE: 10%
  • 28. Selection/Implementation
    • Committee selects bank
    • Recommend to Comptroller/Clerk
    • Board approval
    • Begin implementation
  • 29.
    • Sean Polland, CFA
    • Treasury Manager
    • Orange County Comptroller’s Office
    • 201 S. Rosalind Avenue, 4 th Floor
    • Orlando, Florida 32801
    • Phone: 407-836-5755
    • Fax: 407-836-5753
    • E-mail: sean.polland@occompt.com