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4. City of Mequon Banking RFP QuestionsGeneral Questions:What is the reason for the RFP?The City has gone through staffing changes over the past several years, including the retirement of the previous, long-term Finance Director. Due to these changes and the City’s financial policies, staff has been tasked to look at all contracts and services provided to the City. The City has been with BMO Harris since 2014, so it is the next contract up for review.What are the three most important things you are looking for in a bank partner?Ease of online banking and daily transactionsCost EffectivenessHaving representatives available to answer questions/concerns in a timely fashionWho does the City currently bank with?BMO Harris BankWhat other banks were included in the RFP?All banks that had a branch within the City were sent a copy of the RFP:BMO HarrisMarathon Savings BankChasePort Washington State BankAssociated BankBank Five NineWells FargoNorth Shore BankBank FirstPNCJohnson Financial GroupKohler Credit UnionUS Bank Landmark Credit UnionYou have identified evaluation criteria that will be used to score the RFP which totals 90%. What is the remaining 10%?We apologize for this typo, the Available Technology/Business Practices should be 25%.What is the City's current ERP (Enterprise Resource Planning) system or finance system? Tyler MunisIf interviews are needed, is there an option of remote? Or will in person be required?If interviews are needed, all will be conducted remotely. Bank Account Questions:Would the City be willing to share three months of analysis statements?Available upon request“Cost Proposal Form” is mentioned in the RFP. Will the City provide a standard form? We do not have a standard form, the current items that BMO charges for are listed within the account analysis statements.Can you please provide volume expectations for the banking services you are requesting?Please refer to the account analysis statements. If you have additional questions, please let me know. The RFP states that during tax season the City anticipates an additional monthly depository balance of up to a maximum of $45 million. What is the typical monthly balance for the General account? Approximately $3 million in the General Fund, $7-8 million in the reserve, interest-bearing account.What type and how many check scanners do the City currently utilize? The City has one Digital Check scanner. Are cash deposits made by the City done at the branch or made by a courier? Cash deposits are done at the branch.You state that you would like currency and coin orders at no cost.? Is that referring to the base fee for ordering currency, or all costs associated with it (rolls of coin, per strap fees, etc.)?It would be preferred to have all costs associated with the orders be at no cost. Typically, the City will request the bank to exchange $200-250 in 20’s for 5’s, 10’s and 1’s – this happens quite infrequently.How many accounts are check writing accounts that will need to be set up with return item e-mail notifications?Two accounts are check writing accounts – payroll and general.Would you like check blocks on the non-check writing accounts?Yes, that would be preferred.What is your current ECR and/or Interest rate(s)?0.150%Is the City utilizing a smart safe or remote safe on site? The City has a vault where cash is stored. Typically, there is not a significant amount of cash on hand.Could the City please clarify section (i) Deposits & Error Correction: Are all deposits being made at the branch? Is the City then taking those checks to Village hall to deposit remotely? Currently, the City is accepting and processing checks at City Hall and depositing them remotely. All cash is taken to the bank branch by City staff. Occasionally, deposits are also taken to the bank branch when errors are experienced with the scanner or a check is not going through the system correctly.Is the City using any armored courier? If so, who? Mequon Police DepartmentHow many wires are currently sent?? Received?? Are the wires that you originate generally repetitive and how many recipients are involved?The City currently sends two to three wires per month. The City does not receive wires very often. The wires that are sent are generally repetitive and about ten to fifteen recipients are involved. You state that you currently settle quarterly. Is that your preferred timeframe, or will monthly be acceptable?Monthly will be acceptable. Currently daylight overdrafts are managed by deposits made same day, by close of business.? Daylight Overdrafts can also be managed through a line of credit with a sweep feature.? Does the City of Mequon have a preference for this process?The City is open to other options, but the deposits made the same day has worked thus far.Would the City of Mequon consider utilizing a Letter of Credit provided by the Federal Home Loan Bank (FHLB LOC) to collateralize balances? It would be consideredHas the City utilized an Investment Sweep in the past? If not, is this something the City would be willing to utilize in the future? The City has not previously but is willing to utilize an investment sweep in the future. The account would need to follow the investment policies of the City.Payroll Processing: Just to be certain, you process payroll in-house (or a service) and submit through online/ACH for payment to employees with ACH transfers?Correct, the payroll is processed in-house through Munis and an ACH file is uploaded online to initiate payments to employees.Do you utilize payee match with positive pay?YesWhat format of positive pay file do you currently use?Available upon requestUtility Payment and Tax Payment Collection:How important is it for your bank to be able to collect property tax payments at the branch?It is important for our bank to collect property tax payments at the Mequon and/or Thiensville branch. The taxpayers and elected officials appreciate the flexibility of two in-person payment options.For the branches that help collect tax payments, does the City provide software to input the tax payments or are the payments manually handled? Please describe the current process performed by the Banks that help collect payments.Ozaukee County provides the software to input the payments, Ascent. There are payment stubs on each tax bill generated for taxpayers. The bank would key in or scan the bill number listed on the bill and enter in the payment information. A report can be run at any time throughout the day to make sure the checks collected match the amount receipted. The bank would then deposit checks directly into a City bank account daily.Would your Tax Collection payments come with a standard coupon?? If so, can you share a sample?We do not currently have a lockbox for mailed tax payments, but the coupon is available upon request.The RFP states that the Property Tax account will maintain a zero balance. For clarity, is the Property Tax account currently a zero-balance account? The Property Tax account typically maintains a $0 balance. There are only deposits into the account December through February during tax collections.It appears the City currently utilizes GovTech services for online payments of property taxes. Is that service within the scope of this RFP? GovTech was researched by the previous Finance Director and found the benefit of being able to accept large escrow payments from multiple mortgage companies electronically. If a bank has a better option where the City can consolidate online systems, it would be open to hearing about it. To help price Lockbox for the additional property tax collection payments, approximately how many payments would go to the lockbox during the tax collection period?We have never used a Lockbox for property tax collection payments, so we do not have good record of how many payments would go through the lockbox. The City sends out over 11,000 bills annually in December that are due by the end of January.Will the tax collection output format be the same as the utility format?NoCan the same box be used for both the utility payments and tax payments (with a coupon identifier to separate), or will they need to be separate boxes?Same is acceptableWhat volume of checks currently run through your Utility Fee Payments monthly?Utility bills are sent out quarterly, so the volume fluctuates. We currently send out approximately 9,500 bills each quarter. Of that, approximately 1,500 customers choose for the automatic ACH withdrawal from their account.Do your Utility Fee payments come to your lockbox with a standard coupon?? If so, can you share a sample?We do not currently have a lockbox for mailed utility payments, but the coupon is available upon request. The coupon does have a scan line and most all of them come back with coupons (approximately 90%).How is the City’s lockbox for utility payments currently being handled? Are all checks/stubs scanned by the City? Or does the City’s current bank handle this?The City is currently only using AR-Box electronic lockbox for utility payments, which processes payments received through online bill pay banking channels. Daily, the Assistant to the Finance Director downloads a file to be imported into the City’s financial software, Munis. The file is uploaded by 1:30 P.M. every day and a deposit is received the following business day that matches the report imported. The City does not handle any checks or stubs. The City currently pays $.10 per item or a minimum $20 per month. The City is exploring all Lockbox options available during the Banking RFP process. Do you currently use E-lockbox? If not, would you like more information on this service?See answer to #35, please include recommendations/information on how your bank would handle in the proposal.For the lockbox, where is the P.O. Box currently located? Would you be ok, with a lockbox in Chicago?The City would be okay with a lockbox in Chicago.Do you need a website interface for your Utility billing to allow online payments?With Munis, there is a portal called Citizen Self Service currently being used. If proposal includes merchant services, please state if it would be compatible with Munis or not. the City presenting invoices other than by mail (ex: by email or electronic invoice presentment platform)?The City does offer email for utility bills.Do you have specs on what you will need for an output data file from lockbox that can be provided?? A copy of an import file is available upon request.Could the City please provide its current lockbox address? There is no current lockbox address, the City is only utilizing the electronic lockbox.Credit Cards/Purchasing Cards:For the online payments via merchant services, which Gateway do you use? Do you like this Gateway or would you be looking for something different?For utility payments, we currently use Velocity Payment System by Govolution. For brush/burn permits, we currently use Point and Pay. For taxes, we use GovTech. *We are open to other options and expanding credit card acceptance for other collections as well (permits, dog licenses, etc). Is the City currently using any type of Purchasing card program or other card program, or is that not within scope of the RFP? The City is currently using the US Bank WSCA program for purchasing cards.What on an average do you estimate in credit card sales monthly for the in-person payments?? What on an average would you estimate for an average sale as well as high ticket sale for your in-person payments?? Since we have not accepted credit card payments in-person in the past, this number is difficult to predict. I would estimate the average sale to be approximately $100-200 with the expected high-ticket sales reaching about $1000.Are you interested in check acceptance as well as credit card payments for your in-person payments??? Currently, the City only accepts check payments in-person.What is the minimum number of terminals the City would consider using for each location? Will it be one terminal per location, or multiple? We would anticipate one terminal per location, totaling 4-5 terminals.Would the City of Mequon be interested in having Associated Merchant Services bid on your online utility as well as permit fee(s) ecommerce payments?? If so; would you be willing to share a copy of your most recent last 3 months of merchant statements for review?? What is your current online method of processing (IE: Payment gateway name)? For utility payments, we currently use Velocity Payment System by Govolution. For brush/burn permits, we currently use Point and Pay. For taxes, we use GovTech. Are your payments typically check cards, rewards credit cards or from businesses such as Corporate or Purchasing Cards??? We do not have this information availableWill you require an external pin pad for in-person chip payments? There is an option for a retail virtual terminal where staff may accept payments in person by connecting an external pin pad to a PC as well as physical terminals.???? Are you storing any card holder information on your computers or paper files?? NoWhat is your current PCI (Payment Card Industry) Compliance status?Currently, the City is understood to be compliant but will be undergoing a full review as part of the implementation of accepting card payments in person at City Hall.Can you share three months of merchant service statements?Available upon request. ................
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