VISA/MasterCard Bank Card Services:



Poplar Bluff Municipal Library DistrictRequest for ProposalsBanking and Investments ServicesMay 2015Poplar Bluff Municipal Library District (Library), a political subdivision operating in the State of Missouri under Missouri Revised Statutes 182.480, requests proposals from financial institutions in Butler County, Missouri to provide Banking and Investments Services. Service providers must be insured depositories chartered under existing federal and or State of Missouri laws.General Requirements for proposal submission:The intent of this RFP is to provide a standard format to enable the Library to evaluate the services. Please provide a complete response to all questions in the same order as presented in the RFP. The Service provider must provide the minimum requirements contained in this RFP. If the Bidder has additional services to offer which are not addressed in the RFP, the Bidder is encouraged to include those items in its proposal and itemize any additional related fees. Services bid cannot be subcontracted to vendors.It is the policy of the Library to manage and invest its cash resources in accordance with the following guidelines:The Library shall establish and maintain procedures for the investment of cash and other liquid assets.All cash and liquid assets shall be in substantially risk-free accounts and/or investments by virtue of Federal Deposit Insurance, collateralization or the nature of the investment instrument. Investments or securities pledged as collateral must meet requirements as specified by Missouri statute.Money shall be invested in such a way to provide a satisfactory amount of liquidity.Money shall be invested locally if possible, but the primary goal is to invest money in such a way as to maximize the return on investment so long as the above constraints on safety and liquidity are maintained.The Library shall contact area financial institutions every three to five years and solicit bids to provide its financial services’ needs.The Library receives most of its funding from the collection of ? cent sales tax within the city limits of Poplar Bluff with the exception of the Eight Points Community Development District (CDD) where sales tax collection is 1/8 cent on businesses establishedincremental revenues realized after the formation of the CDD. In FY 2013 and 2014 (FY runs January 1 through December 31), the library’s general revenue from taxes was $1.064 and $1.149 million respectively. Over the two fiscal years, the Library’s deposits averaged a little over $92,000.00 each month. Although specific requirements are detailed in this document, service providers are invited to make proposals for improving any particular service and for new and expanded services. The successful service provider shall enter into an agreement that shall contain the terms and conditions of this RFP and the bidder’s proposal.To better assist service providers, copies of the library district’s most recent audit, monthly financial report and other financial information are available on the its website at HYPERLINK "" Board .Currently, the Library maintains the following accounts:General Revenue Account. All monies received by the Library whether by electronic transfer, direct deposit, or in person go through the General Revenue Account. Funds are transferred from the General Revenue Account into Operating Expenses, Payroll, or Reserves as needed. On average, the Library makes 14XX deposits per month to the account, including XX 20 deposited items, on average.Operating Expenses Account. Library’s operating expenses for the month average $35,000.00 with the exception of December. In these months, the library pays out its expenses for insurances and agreed payments to the City of Poplar Bluff. These expenses can exceed $150,000. Monies are transferred from the General Revenue Account twice per month to cover these expenses and checks written. Approximately 35 checks are written each month to cover the Library’s operations. Checks are written weekly with the Board of Trustees monthly approval of payment. Deposits of $100 to $200 comprised of checks, cash, and coins are made three times per week; the average number of checks deposited is XX24. The financial services provider supplies three bank bags for deposit transport. A direct deposit of tax revenue from the Missouri Department of Revenue is made on the 7th of each month or prior if the 7th falls on a holiday or weekend. Other direct deposits are irregularly received from other government or grant sources. The Board of Trustees President and Treasurer with the Library director and assistant director have signature authority. The account requires the signature of either Board member and the director or assistant director. Checks are purchased by the Library from the financial software provider QuickBooks. Deposit slips are provided by the financial institution.Payroll Account. The Library uses this zero-balance account for payroll direct deposit of employee net pay, Social Security taxes, employee federal and Missouri income taxes, LAGERS retirement, and employer provided health care payments. Monies are transferred from the General Revenue Account to cover payroll. Employees (23) are paid every two weeks along with federal withholding and Social Security, retirement, employee taxes. Health benefits are paid monthly by electronic transfer. Gross payroll averages $19,000 to $21,000 every two-week pay period. The Library’s Business Services Associate runs payroll on Wednesday before the Friday payday using Intuit’s QuickBooks to manage payroll accounting and payment authorization for direct deposit into the employee’s preferred account. Funds are available to employees after midnight of the Friday payday except when the payday falls on a federal holiday. Then payroll is run one day earlier with funds available on the day prior to the federal holiday.Reserve Account. The Library maintains a reserve account as a rainy day account. Currently it is a money market account with irregular deposits of no more than twice per year. By Library policy, only the director and Board president may move or withdraw funds from this account in person at the financial institution with majority approval of the Board of Trustees. Board minutes reflect this approval.Amounts provided in the account descriptions above are estimates based upon past practice. There is no guarantee these are minimum or maximum volumes.Service providers must meet these requirements:All funds of the Library shall be in substantially risk-free accounts and/or investments by virtue of federal deposit insurance, collateralization or the nature of the investment instrument. Service providers must ensure that the Library District’s investments and securities pledged as collateral meet requirements as specified by Missouri statutes.The Library would like to invest additional or excess funds received throughout the year. Service providers must be capable of providing comprehensive investment services to the Library, including purchase and sale of acceptable investment securities investment advisory services and comprehensive investment reporting on the Library’s accounts. Any fees associated with this service must be outlined in the bid.Statements on all bank accounts shall be provided within seven working days after the end of each month. Images of all paid checks must be returned in check number sequence. Individual statements reporting activity of each account is preferred. Service providers should provide information in the bid proposal on the types of statements and information that will be provided.The Library utilizes bi-weekly direct deposit payroll. Service providers are to provide information in the bid proposal on the process or procedures required and any fees or requirements associated with it.The Library utilizes direct payments for payroll taxes, healthcare benefits and other payments. Service providers are to provide information in the bid proposal on the process or procedures required and any fees or requirements associated with it.The Library has a PayPal Payflow Pro account that is used to process fines and fees paid online by patrons. At this time, fees on the internet accounts are not passed on to the customers.The Library designates two library staff to have credit cards with a limit of $10,000 each. Service providers should provide information in the bid proposal on the types of credit cards that it will issue, the terms under which the cards may be used, and any fees associated with their use.a. The Library currently has VISA business cards through 1st Community Bank.b. The Service Provider must provide the services outlined below.Provider will issue monthly statement information, either by paper statement or online, containing the cardholder’s name, transaction date, posting date, supplier/vendor and transaction amount for each item charged.Statements for each account should be separate statements instead of combined statements.Provider will issue individual credit card account numbers for each employee cardholder, which are subsidiary to the Poplar Bluff Municipal Library District’s parent account.Provider will resolve disputed vendor charges within 90 days of written notification.Provider will maintain the confidentiality of employee cardholder’s names and addresses.A copy of the Provider’s standard procurement card contract should be included with the proposal.Other related procurement card services, rebates programs or products offered by the Provider should be specified in the Proposal with the related fees for such services or products.The Library must have the ability to capture information needed for 1099 reporting.Designated staff should be able to access account information (transactions and balances) securely online. Service providers must provide information in the bid proposal on their ability to provide online access, software required for access, and any fees associated with their use.If the Library has need of additional accounts during the term of the agreement, such new accounts should be provided with the same conditions as apply to existing rmation and pricing on additional services such as PayPal (accepting credit card payments for various library fees) are welcome and may be proposed by service providers but are not required by this RFP.The financial institution must be both a sending and receiving bank on the Automated Clearing House (ACH) system to accommodate payroll direct deposit, other payments and incoming revenue to the Library.NSF protection.Provide execution of telephone, online and wire transfers as requested by the Library.Account executive—The Library requests that the proposing financial institutions provide the name of the designated account executive as well as an alternate. The designated account executive must have the authority to make timely decisions in the normal course of business on their own.Conversion support—In the event a new provider for banking services is selected, most banking related activities would require modification. The successful bidder must provide library staff training, provide manuals as necessary and install new hardware and/or software.While not an absolute requirement of this bid, it will be helpful if bidders can Pprovide a list of the tasks that must be completed to facilitate conversion.. Include a start and finish date.While not an absolute for determining award of the bid an Eestimate of the number of hours that would be required to complete the conversion is helpful..All Library funds on deposit must be collateralized at all times as required by Missouri law in Sections 110.020, 110.010, and 30.270 RSMo. The Library requires the service provider to pledge to the Library government securities equaling 105% of total deposits in excess of the current FDIC limits. The service provider is required to provide the Library a monthly report of collateral pledged and the market value within five (5) days of the end of each month.All deposits of the Library shall be placed in an interest bearing account or one that uses a nightly repurchase sweep feature. The interest rate calculation method for these accounts should be explained. EvaluationThe Finance Committee of the Library Board of Trustees will review proposals and recommend to the full Board of Trustees whom they believe to be the successful bidder. All proposals will be evaluated on the following criteria:The primary selection factor will be the expected net return to Poplar Bluff Municipal Library District.The convenience to the Library for making deposits, transfers, or other common transactions.The complete understanding and ability to meet requirements as specified in the RFP. The demonstrated experience and expertise of the bidder and its staff in providing services of a similar nature to customers comparable to the LibraryThe resources available from the bidder to successfully provide the required services. Such resources shall include personnel, facilities, electronic data processing and communications capabilities, financial strength and the ability to expand the scope of the banking services provided as technology and banking environment change.It is helpful if Tthe bidder’s approach to planning, implementing and performing the services required and the transition process from the current financial institution used by the Library is provided..Other information such as ancillary services provided by the financial institution.The Library may require additional information or clarification from the service providers during the evaluation process. The bidder agrees to provide such additional information as requested. The Library may consider any factor it deems relevant whether or not such factor has been specified in the RFP. A schedule for the evaluation and approval of the successful bidder and implementation of the agreement are as follows:May 15, 2015 RFP issued to financial institutions, advertised in Daily American Republic, and posted to Library’s web siteJuly 1, 2015, 12 noonProposals are due at the Library front desk.July 2-July 27, 2015Proposals are reviewed by The Library Board of Trustees Finance Committee.August 3, 2015Finance Committee recommends approval of successful bidder from the full Board of TrusteesAugust 10-September 1, 2015 (Target dates but may be amended to accommodate both the successful bidder and library)Director and Assistant Director meet with successful bidder to discuss and prepare for implementation.September 1, 2015 (Target date but may be amended to accommodate both the successful bidder and library)Implement new banking and investment services. (Due to the payroll schedule, it is possible that payroll may have to be set up prior to the September 1, 2015 implementation date.)Contract Period:The contract period will be for three (3) years, beginning September 1, 2015 and ending August 30, 2018. The Library may automatically renew this agreement for up to two (2) one-year terms. In no event shall this agreement with the selected institution extend beyond August 30, 2020. All funds will be transferred to the winning bidder no later than the first day of the contract period, except for funds needed to cover outstanding checks.Either party to the Agreement may cancel the Agreement before the end of the first term by written notice no later than 120 days prior to the end of the term. In the event of cancellation, the Service provider shall return all documents and funds to the Library and cooperate in the transition to the new service provider. The Library has the right to cancel the agreement before the end of the three years if requirements specified in this RFP are not met.Submittal of Proposals:Four (4) paper copies and one electronic copy (USB storage) of the firm’s proposal must be submitted in a sealed envelope marked “Proposal for Banking and Investment Services” by 12 noon, Thursday, July 2, 2015 at the following address:Poplar Bluff Municipal Library318 North Main StreetPoplar Bluff, Missouri 63901All proposals must include a signed letter of intent to comply with the requirements specified in the RFP. Person(s) duly authorized to sign the proposal must sign the letter. The complete legal name, address, and telephone number of the bidder, including the name of the person to contact regarding the proposal must be clearly identified.The proposal must include copies of standard contracts for all services that the Bidder is including in its proposal.The proposal must include the Bid Information sheet and responses to all questions on the Banking and Investment sheet. Additional information may be included in the bid proposal.Proposals offering additional services not required by the RFP or alternative methods of providing service should submit this information in a separate section appropriately identified.A brief, but complete, background of the Bidder including the most recent audited annual financial statement shall be included in the proposal.Describe a written disaster recovery plan and address how the Library will continue to conduct business in the event your operation center is rendered inoperable.The Library reserves the right to conduct personal interviews or require presentations of any or all bidders prior to the selection.The Library reserves the right to accept or reject all or any part of any proposal, to waive informalities and to advertise for new proposals as the interest of the Library may require. The Library is not obligated for any costs incurred by the bidder in the preparation of the submittal of its proposal.Bidders may withdraw their proposals any time prior to the deadline for submission of proposals. No proposal may be withdrawn within 60 days after the deadline for submission of proposals. All questions regarding technical specifications, proposal process, etc., must be directed in writing to the Director no later than Friday, June 12, 2015 4 o’clock p.m. Responses that clarify or provide interpretation of the RFP will be made available to all service providers on the library’s website at HYPERLINK "" Chapter 610 of the Revised Statutes of Missouri, all bidders submitting proposals should be aware that the Request for Proposal and the responses are considered public information. Each financial institution submitting a proposal is requested to identify specifically any information contained in their proposal considered confidential or proprietary that they believe is exempt from disclosure, specifically citing the applicable exempting law.Contact Information:Sue Crites Szostak, DirectorPoplar Bluff Municipal Library318 North Main StreetPoplar Bluff, MO 63901 HYPERLINK "mailto:szostak@" szostak@Voice: 573-300-4590Voice: 573-686-8639Fax: 573-785-6876To insure fair consideration for all Proposals, the Library prohibits communication with any Library employee or Library official during the submission or evaluation process. The appropriate Library official or employee shall initiate any communication between the Library and a Bidder in order to obtain information or clarification needed to perform an accurate evaluation of the proposal. Communication initiated by the Bidder may be grounds for disqualifying the offending Bidder from consideration for award of the proposal and/or award of future Library contracts.Bid Information All bids must include this information sheet with the bid proposal. Additional information or services may be included separately.Name of bidder: _________________________________________________Contact person: _____________________________ Phone: ___________Account Maintenance FeesAnnual/ Monthly FeeCommentGeneral Revenue Account??Operating Expenses Account??Payroll Account??Reserve Account??Per Transaction FeesItem/ Transaction FeeCommentDeposits??Deposited Items??Deposit Items Returned??Checks Paid??ACH File Fee??ACH Item Fee??ACH Returns??Wire Transfers??Stop Payments??Check Imaging??Transfers??Coin Counting??Online Banking Inquiry??NSFOther Fees?Annual/ Monthly FeeCommentChecks and deposit slipsGeneral Revenue Account (deposit slips only) Operating Expenses Account (checks only)??Designated Gifts Account??Friends of the Library??Investment Management??Other Investment Fees (describe)???????????Banking and Investments Services Service providers are required to provide information about these Banking and Investment Services in the bid proposal. Service providers may include this page as an index and cite reference to pages within the submitted proposal. Type of collateral, insurance or investment instruments to be used.Investment services offered.Types of account statements offered.Summary of processes or procedures required for payroll direct deposit.Summary of processes or procedures required for direct payment.Summary of processes or procedures required to obtain purchasing or credit cards.Software and or procedures required for online access.Summary of processes or procedures required to open additional accounts.Additional services offered.VISA/MasterCard Bank Card Services:Purchase card program for small dollar purhcases:Number of cardholders (Library account) 2Estimated annual dollar transaction volume (Library account)724Estimated annual dollar volume (Library account)$68,098.44Average dollars per transaction (Library account)$ 94.00On-line reporting:$_________Service Fees:$_________Other Fees (describe)$_________Total purchase card fees given estimated volume:$__________On-line reporting:$_________Service Fees:$_________Other Fees (describe)$_________Total purchase card fees given estimated volume:$__________The Bidder hereby agrees to provide the Purchase Card Services, at the prices, terms, and conditions quoted in accordance with the requirements of this RFP.Firm Name____________________________________________Signature______________________________________________Title__________________________________________________DatePoplar Bluff Municipal Library District Request for Proposal – Banking Services AFFIDAVIT OF COMPLIANCETo be submitted with vendor's Proposal We DO NOT take exception to the RFP Documents/Requirements. We TAKE exception to the RFP Documents/Requirements as follows:I have carefully examined the Request for Proposal and agree to abide by all submitted pricing, delivery, terms and conditions of this bid unless otherwise stipulated herein. If awarded the bid, a corporate officer must sign the contract. If someone other than a corporate officer signs the contract, a letter signed by a corporate officer, stating the authority of the individual signing the contract must be submitted.SIGNATURE AND IDENTITY OF BIDDER: The undersigned states that the correct LEGAL NAME and ADDRESS of (1) the individual Bidder, (2) each partner or joint venture (whether individuals or corporations, and whether doing business under a fictitious name), or (3) the corporation (with the state in which it is incorporated) are shown below; that (if not signing the intention of binding himself to become the responsible and sole Contractor) he is duly authorized in writing to sign for the Bidder or Bidders; and that he is signing and executing this (as indicated in the proper spaces below).( )sole individual( )partnership( )joint venture( )corporationState Incorporated : Company Name ADDENDABy (Authorized Person's Signature)Bidder acknowledges receipt of the following amendment: Addendum No.Date (Print or type name and title of signer)Addendum No.Date Company Address Addendum No.Date Addendum No.Date Addendum No.Date Telephone Number Email FAX: FEID No. Date: ................
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