LACMTA - CSMFO
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City of Long Beach
REQUEST FOR PROPOSAL: BANKING SERVICES
February 25, 2002
City of Long Beach
REQUEST FOR PROPOSAL: BANKING SERVICES
INTRODUCTION
The City of Long Beach invites qualified commercial banking institutions to submit proposals for the provision of depository, general investment, and other related banking services according to the following conditions:
1) Location: The Contractor must be a Federal or State of California chartered commercial banking institution with at least one full-service branch located within the city limits of the City of Long Beach. The branch of the Contractor must be able to offer the full range of banking services required by this Request for Proposal.
2) Qualified Depository: The Contractor must be a qualified depository for public funds pursuant to the applicable State of California codes. It must also be FDIC/SAIF insured.
OBJECTIVES
The intent of this competitive selection process is to provide all qualified commercial banks an equal opportunity to submit a proposal to administer the City’s extensive banking and deposit operation. In conducting this selection process, the City’s objectives are to:
1) Enhance its cash management strategy
2) Improve funds availability
3) Increase the use of electronic transactions, reporting and reconcilement
4) Establish public/private partnerships and community-based products and services
BACKGROUND
The City of Long Beach is a California charter city incorporated in 1888. It is the fifth largest City in California with over 430,000 residents and is considered one of the most diverse communities in the state. It is located on the south coast of Los Angeles County, overlooking the San Pedro Bay, and 10 miles southwest of Anaheim. The City is approximately 50 square miles in size and includes an extensive harbor complex and a regional municipal airport. The City operates a convention center and hosts approximately 4.3 million tourists per year. Long Beach has over 5,000 hotel rooms, five municipal golf courses and a number of marinas. It is within easy access to several major arterial freeways and utilizes a light rail mass transit system and a municipal transit agency.
The City of Long Beach currently maintains a primary commercial banking relationship with one depository institution. The City averages over $3 billion of annual cash flow activity (inflow and outflow, including investment settlement) through its commercial banking accounts. The City averages $2.9 million per day in deposit activity and $2.3 million per day in accounts payable activity.
The City’s Fiscal Year 2002 Budget is summarized below: (see Attachment 1)
Total Revenues $2.40 billion (includes $731 million carryover)
Total Expenditures $1.81 billion
Total Debt Service $163.0 million
RESPONSE (see “Content of Proposal” section for more information)
One original (1) and ten copies (10) of your proposal along with the completed pricing diskette (attached) should be submitted in a sealed package bearing your name and address, labeled “Request for Proposal: Banking Services” addressed to:
City of Long Beach
Department of Financial Management
333 W. Ocean Blvd., 6th Floor
Long Beach, CA 90802
Attn: City Treasurer
All proposals must be delivered to the above offices on or before April 1, 2002. Proposals received after the above date and time will not be considered.
PROPRIETARY INFORMATION
If you desire that information in the proposal not be disclosed, you must identify all proprietary information in the proposal at the same time you submit the proposal. Failure to do so implies that all sections are non-proprietary and can be made available upon request to the general public under the Public Records Act.
COSTS IN RESPONDING
All costs directly or indirectly related to the preparation of a response to the Request for Proposal (RFP), any oral presentations required to supplement and/or clarify a proposal, and/or reasonable demonstrations which may, at the discretion of the City, be required of you shall be your sole responsibility.
PROPOSAL TIMETABLE
Feb. 20, 2002 RFP Available to interested Banks
Mar. 5, 2002 Deadline to submit written questions regarding the bid
Mar. 8, 2002 Response to written questions to be mailed out
Mar. 12, 2002 Pre-proposal Conference
Apr. 1, 2002 Deadline to submit RFP responses
Apr. 24, 2002 Final award date (tentative)
PRE-PROPOSAL CONFERENCE
In an effort to discuss this RFP, to answer questions, and to achieve an equitable dissemination of information, the City will hold a Pre-Proposal Conference on March 12, 2002 at the following time and location:
333 W. Ocean Blvd.
13th Floor Large Conference Room
Long Beach, CA 90802
All further questions related to this RFP shall be directed both in writing (U.S. mail or facsimile) and e-mail to:
James D. Sadro, City Treasurer
Department of Financial Management
333 W. Ocean Blvd., 6th Floor
Long Beach, CA 90802
Phone: (562) 570-6845
Fax: (562) 570-5836
FM_Treasury@ci.Long-Beach.ca.us
Questions shall be received no later than 5:00 p.m. on or before March 5, 2002. Any City response to an inquiry will be made in the form of an addendum to the RFP will be sent to all parties to whom the RFP has been issued not later than five (5) business days prior to the due date for receipt of the proposal, and will become part of the RFP.
TERM
The City intends to enter a three-year agreement with seven (7) optional one (1) year extensions.
CHARGES FOR SERVICES
All charges for services must be specified as required in this proposal. These costs shall be fixed during the first 3-year term of this agreement. In the event that the City extends, the bank may propose a revised fee schedule. These fees are subject to negotiation and approval by the City and may not exceed the annual consumer price index-urban (CPI-U) increase for that year.
SUBMITTAL RULES
Do not contact any City of Long Beach employee to gather any information regarding this RFP. All questions must be forwarded directly to the City Treasurer.
Do not contact any vendor or customer of the City of Long Beach to collect information regarding this RFP.
Violation of these rules or effort that indicates that you are attempting to gather information or influence the selection process will automatically disqualify you from the process.
Questions regarding this RFP will be addressed in two manners: 1) the pre-Proposal conference that will be held on March 12, 2002; and 2) inquiries made in writing to the City Treasurer. Inquiries will only be accepted via U.S. mail or facsimile copy. All questions will be compiled and responded to all participating vendors within five working days.
Oral questions will only be accepted and responded to at the bidder’s conference.
BANK RESPONSES
RFP responses must be made with the same order, number and headings as those used on the City of Long Beach RFP. We will not accept responses to questions that were prepared for other clients even if the questions closely resemble those found in the City of Long Beach RFP. Pricing for banking services must be completed on the attached Microsoft Excel worksheet titled: “RFP Pricing Template – City of Long Beach.” At least one copy of the spreadsheet must be sent back on disk with your RFP response (We highly recommend that the spreadsheet also be e-mailed to FM_Treasury@ci.Long-Beach.ca.us).
The City of Long Beach will not accept brochures, appendixes, or marketing material as an RFP response for any question. Responses must be comprehensive and complete. Do not use referencing as a means of responding to questions (for example, do not respond with “see p. 44 of the attached ACH Manual”).
If the RFP responses do not directly match the order and headings of the City of Long Beach RFP, your RFP responses may not be reviewed (at the City’s discretion).
SCOPE OF SERVICES
Contractor shall be responsible for:
1. Providing basic and specialized banking services as described herein.
2. Providing additional or alternate services as opportunities for improvement are identified or as the needs of the City change, including investment and debt support.
3. Serving as a general resource for City staff for information, advice and training regarding banking and cash management.
TECHNOLOGICAL STANDARDS
The City’s technological standards are detailed in Appendix A.
SCOPE OF SERVICE & PASS/NO PASS TESTING
Of the required services identified below, certain critical functions must clear a pass/no pass standard. If these minimum standards are not met on the required critical functions the proposal will not be considered.
1. Depository Accounts
Contractor shall be a qualified depository for public funds pursuant to California Government Code Section 53648, and have access to all Federal Reserve System services. In addition, the Contractor shall have been evaluated by an independent rating service as satisfactory or better for the last eight (8) consecutive quarters.
____ Pass ____ No Pass
The proposed account structure is shown as Appendix B. The proposed account structure includes:
1 Concentration Account
3 Disbursement ZBA Accounts
60 Imprest Accounts
Accounts shall be domiciled in Los Angeles County with the exception of a potential future controlled disbursement account. There shall be at least one full-service branch located within the city limits of the City of Long Beach.
____ Pass ____ No Pass
2. Collateralization
All balances shall be fully collateralized in compliance with the requirements of Title 5, Division 2, Part 1, Chapter 4, Article 2 of the California Government Code and in compliance with the City’s Investment Policy. The Treasurer will provide the Contractor with a Letter of Waiver covering the first $100,000 of deposits which are insured pursuant to federal law, and as allowed by the California Government Code and the City’s Investment Policy (Appendix C).
____ Pass ____ No Pass
3. Information & Reporting Services
Contractor shall have a personal computer (PC) based daily balance and transaction reporting system. This system may be in the form of proprietary bank software installed directly on City PC’s or via the Internet. All proprietary software and/or hardware provided by the Contractor must be compatible with the City’s technology standards as stated in Appendix A. Back up procedures and contacts (via telephone, fax and email) will be designated in the event of system failure or emergency.
____ Pass ____ No Pass
Prior Day information must be available by 7 a.m. Pacific standard time (PST) and include the following minimum information:
Ledger Balance
Available Balance
Float or Availability
Debits - summary and detail
Credits - summary and detail
____ Pass ____ No Pass
Same Day information must be updated and available within 60 minutes after the transaction and include:
Wire transfer activity (including Federal Fund numbers for outgoing wires)
Lockbox deposits
Controlled disbursement activity (if utilized by the City)
Automated Clearing House (ACH) receipts
4. Electronic Funds Transfers (EFT)
The Contractor shall provide a PC-based or an Internet-based customer-initiated wire transfer capability, allowing both repetitive and non-repetitive wires. The system shall have security features (multiple passwords, encryption/authentication, test keys, etc.) acceptable to the City. Back up procedures and contacts (via telephone, fax) shall be designated in the event of system failure or emergency.
____ Pass ____ No Pass
The Contractor must have the capability to accommodate a wide range of electronic payment and deposit services. ACH origination services are utilized for payroll (ACH credits) and operational purposes (City originated ACH debits of third party vendor accounts). The Contractor shall provide the City with PC-based software or Internet-based system to originate ACH activity. The system must be able to accept a tape, disc and download of payroll data from the City. The Contractor shall also provide the City with PC-based software or an Internet-based system to originate Federal and State tax payments (payroll, sales, etc).
____ Pass ____ No Pass
The Contractor must be able to accept payments from the City’s outside contractor for utility accounts at various pay stations. The City offers a “Rapid Pay” and “Easy Pay” plan that debits the customers’ checking account automatically each month.
5. Lockbox: Provide Specific Pricing Estimates
The City does not currently utilize lockbox services, however, intends to investigate the potential application of this product for various City deposit activities. The Contractor shall provide this service, at the City’s request, and shall provide information, training, and support to establish this service in the future, at the City’s discretion.
6. Positive Pay: Provide Specific Pricing Estimates
The City does not currently utilize positive pay services, however, intends to investigate the potential application of this product in the future. At the City’s discretion, the Contractor shall provide this service for the City for its main disbursement accounts to minimize unauthorized and fraudulent activity.
7. Stop Payments
The Contractor shall provide PC-based or Internet-based 12-month stop payment system capability as well as be able to renew stop payments after the twelve months expire. The Contractor shall provide on-line or Internet confirmations. Stop payments made prior to 2:00 p.m. shall be given same day notification (exclusive of controlled disbursement accounts).
Backup procedures (via phone and fax), forms and contacts shall be designated in the event of system failure or emergency. Contractor shall provide hard copy confirmations.
8. Controlled Disbursement: Provide Specific Pricing Estimates
The City does not currently utilize controlled disbursement services, however, intends to investigate the potential application of this product in the future. At the City’s discretion, the Contractor shall provide this service for the City’s main payables account to optimize bank balance and investment management. Final presentment of daily clearings must be available by 8:00 a.m. PST.
9. Account Reconcilement
Complete account reconcilement is currently required for the City’s Payroll, Utility Refund and Housing Authority accounts. The Contractor shall provide a file daily to the City with detailed transaction information for the Accounts Payable and Concentration accounts. For the Concentration account, the daily activity file shall include information to identify deposits uniquely. For example, deposit slips shall be pre-encoded with different numeric identifiers for each City deposit site. The system must also be capable of identifying wire transfers and credit card transactions via unique numeric identifiers. The bank must provide monthly account reconcilement reports, bank statements, account analysis statements, confirmations and other report related features. The bank must be able to provide monthly statements and other reports in a downloadable format (i.e. Excel, Access, etc.) and also provide specialized reports as needed. The system must be able to accept a tape, disc and download of accounts payable data from the City.
____ Pass ____ No Pass
The Contractor shall provide images of paid items on the City’s Accounts Payable, Payroll, Housing Authority and Utility Refund disbursement accounts.
____ Pass ____ No Pass
The Contractor shall provide hard copy and on line reports and in the future provide receipt of reconcilement information via modem-to-modem transmission or the Internet; therefore the Contractor must have such transmission capability. Monthly concentration account reconciliation information shall also be provided in an electronic format compatible with Microsoft Excel software. The Contractor shall provide automatic stale-dating of checks based upon a City provided schedule.
10. Credit Card Processing: Provide Specific Pricing Estimates
The Contractor shall provide the City with Visa, MasterCard, Discover Card and American Express payments on-line. Visa and MasterCard payments are to be deposited and available to the City for same day credit.
Credit cards are accepted at various City locations and typically are used to purchase goods, pay utility bills and licenses, and to pay fines. The average transaction size is $175.00. Returns and adjustments comprise less than 8% of transactions.
The Contractor shall indicate its ability to provide an Interactive Voice Recognition (IVR) system with a toll free number that will enable the customers to pay their account via credit card.
11. Debit Card Processing: Provide Specific Pricing Estimates
The Contractor shall provide the City with the capability to accept debit ATM cards. Contractor must be able to process Star, Plus, Interlink, Explore and Cirrus network transactions.
____ Pass ____ No Pass
12. ATM Services: Provide Specific Pricing Estimates
The Contractor shall provide a “branded” bank Automated Teller Machine (ATM) in the City Hall lobby. In addition, the City may request additional “branded” ATM’s or “non-branded” cash machines at various locations throughout the City. The Contractor shall provide a pricing schedule for both types of machines which include a fee sharing arrangement with the City.
____ Pass ____ No Pass
13. Armored Carrier
The City currently contracts directly with an armored carrier service. The Contractor shall, however, provide armored carrier service at the written request of the City. In the event that such a request is made, the City will provide the necessary information, including detailed pick-up and volume data, so that the Contractor can price this optional service. A minimum of three (3) competitive bids must be secured by the Contractor. All armored carrier fees will be paid through account analysis.
An armored carrier currently delivers the City’s data tapes on a daily basis.
14. Cash Orders: Provide Specific Pricing Estimates
Contractor shall provide currency, rolled coins and loose coins at the City’s discretion. Authorized personnel, to be identified after contract award, will initiate cash orders on-line or via telephone to the depository institution each day prior to 11 a.m. for next day delivery. The cash orders will be debited from the City’s concentration account on the day the cash is delivered by the armored carrier to various City locations.
____ Pass ____ No Pass
15. Cashier Deposits
Deposits consisting of utility and other payments shall be picked up by armored carrier at City Hall five days a week, except on City holidays (see Appendix D, Armored Carrier Schedule). Cash deposits shall be credited to the City's account on the day they are picked up by the Armored Carrier (or the next business day if not a bank business day).
____ Pass ____ No Pass
Coin will be sorted, counted and deposited in bulk using container bags by the City as follows:
5 cent Bag(s) with a maximum of $500.00 each
10 cent Bag(s) with a maximum of $500.00 each
25 cent Bag(s) with a maximum of $500.00 each
Mixed Coin Bag(s) with a maximum of $500.00 each
All bags will be sealed and tagged. Partial bags will be appropriately tagged as partial bags. Low peak (winter) average coin bags range from three (3) to six (6) bags per day. High peak (summer) average coin bags range from then (10) to twenty (20) bags per day. The Contractor shall replenish the stock of bags and deposit receipts upon request.
Currency shall be sorted by denomination by the City, bundled and strapped, 100 bills to the bundle.
16. Account Analysis
a. Excess earnings credits or shortfalls of the City in any given month shall be carried forward and accumulated over the fiscal year. The City’s fiscal year starts on October 1 and ends on September 30. Any earnings credit shortfall for the year shall be billed to the City on a quarterly basis.
b. The earnings rate for the month must be available by the first day of the month to which it applies.
c. All accounts of the City, including any interest bearing deposit accounts, are to be included in the account analysis.
17. Overdrafts: Provide Specific Pricing Estimates
The bank will not charge the City for interday daylight overdrafts and will propose a daylight overdraft limit of sufficient size to accommodate the City’s needs. In the event of an interday overdraft, if the totality of the City’s accounts are in an aggregate overdraft position at the end of posting for any business day, the bank may charge the City a rate of interest. The rate of interest will not be higher than Fed Funds plus 50 basis points.
18. Investment Services
The City may choose to avail itself of various short-term investment services offered by the Contractor. The Contractor must be capable of providing these short-term investment services, designed to provide earnings on daily liquidity funds and as a backup to the City's operating investment function. It is estimated that any such funds will average $10 million.
____ Pass ____ No Pass
19. Safekeeping Services
The Contractor shall provide a minimum of five (5) safe deposit boxes at its branch nearest to City Hall. Safe deposit boxes must be of sufficient size to store various documents, files, or property as necessary.
20. Statements
Statements shall be on a calendar month cycle and hard copy statements shall be received by the City by the 10th business day of the following month. Electronic statements shall be available by the 3rd business day of the following month. Duplicate copies of all bank statements, except imprest checking accounts, shall be mailed separately to the City’s Accounting Bureau. Original imprest checking account statements shall be mailed to the various departments where accounts are maintained.
21. Miscellaneous
All returned items shall be re-cleared three (3) times automatically by the Contractor without notification to the City. Items that do not clear after the fourth attempt shall be forwarded to the City's Treasury Bureau within two (2) working days.
The City shall be notified of deposit errors the same day that they are discovered. The Contractor will research and provide detail for any unidentified deposit items.
Detailed Debit/Credit advices shall be forwarded to the City no later than two (2) days after adjustment to the account.
Annually, the bank shall provide two (2) copies of its current SAS70 report, FDICIA Attestation, annual financial reports, and CRA report to the City of Long Beach Treasury Bureau.
22. Other Banking Related Services: Provide Specific Pricing Estimates
The City is considering implementing other banking services in the future. Specific service parameters have not been established. Indicate your ability to provide the following services and, if currently available, a brief description of the service you currently offer:
a. A 100% free prepaid debit card that can replace paychecks or workers’ compensation checks for employees who do not have bank accounts. Please provide prices with respect to ATM charges. The City would consider paying for any ATM charges associated with the use of these cards through account analysis.
b. ACH vendor payments using Corporate Trade Exchange (CTX) or the Internet to deliver remittance data.
c. The ability to collect payments over the Internet, with an associated account reconciliation process, for sales or payments by residents, consumers, or companies.
END OF SCOPE OF WORK
SUBMITTAL REQUIREMENTS AND QUESTIONAIRE
GENERAL FORMAT
Proposals shall be prepared single-sided on 8 ½” X 11” paper. The original shall be bound in a three ring binder. Copies may be bound in any other fashion. Use of 11” X 17” fold out sheets for large tables, charts or diagrams is permissible, but should be limited. Elaborate format is not necessary. Do not provide promotional or advertising information.
One (1) original and ten (10) copies of the proposal are required. The proposals shall:
• Contain concise written materials and drawings that enable the reviewer to clearly understand the Contractor’s capabilities;
• Specifically describe the Contractor’s role in relationship to its subcontractors and suppliers and shall describe the interfaces with said subcontractors and suppliers, and
• Be submitted in two sections as specified below.
SECTION 1: PROPOSAL CONTENT
The proposal shall have the following components and shall be laid out in the format exactly as shown here:
1. PROPOSAL LETTER
This letter must be completed and executed by an authorized representative of the Contractor. No other letter may replace or be included in addition to the Proposal Letter.
EXECUTIVE SUMMARY (maximum of 3 pages)
CONFLICT OF INTEREST STATEMENT
A certificate must be signed, under penalty of perjury, regarding disclosure of financial interest of City Councilmembers, officials, or employees with the bank.
RESPONSES TO QUESTIONNAIRE
A. Understanding of the Work and Approach
State your ability to provide all services outlined in the Statement of Work or note any exceptions and alternate or comparable services that you provide. Please indicate any services or schedule requirements for which your proposal exceeds the requirements.
B. Organization
1. Provide the name and street address of your institution, holding company, and any affiliates if applicable. Include the name, address, and telephone and fax number of the primary contact for this proposal.
2. Do you have branch(es) located within the City limits? If so, identify the location, name and telephone number for the branch manager contact information, and provide a map identifying each location within the City of Long Beach and within a three (3) mile radius surrounding the City of Long Beach. Please designate which full service branch is nearest to City Hall so that it can assist us with our immediate banking needs.
3. Do(es) the branch(es) have night depository services? Is same day credit given for deposits made after 3:00 p.m. PST?
4. Is your bank a “designated depository” in the State of California? If yes, do you have a current and approved application on file at the State?
5. Describe any proposed mergers or acquisitions involving your institution, or any mergers, acquisitions, or major reorganizations that have occurred in the last three (3) years.
6. Describe any regulatory censure, regulatory agreement, or major litigation involving your institutions commercial banking services or executive officers within the past three (3) years.
7. Provide current Moody's deposit, debt, and financial strength ratings, S&P deposit and debt ratings, and Thomson Financial ratings for your institution (or ratings by another nationally recognized rating organization).
8. Provide your institution’s:
a. Financial statements for the last three (3) years
b. Copies of the Call Reports for the past three (3) years
c. Copies of the last three (3) Bank Performance reports
d. Copies of any administrative agreements or cease and desist orders issued by any regulatory agency in the last three years
e. Most recent Community Reinvestment Act (CRA) rating along with an explanation of your investment in the Long Beach community.
9. Explain how a dispute between the Bank and City would be resolved. Describe the resolution process.
10. What are The City’s options in the event we are dissatisfied with your account service or management?
C. Personnel
1. Please provide a staffing plan giving the name and title of the key personnel that will be servicing the City’s account. Provide a brief resume (no more than 2 pages) for the principal account officer and that individual’s immediate supervisor.
2. Provide a organization chart listing bank contacts, names with titles and phone numbers.
3. Does your institution have a government services branch or would the City be serviced by your business branch? Where is this branch located?
4. Describe the turnover in key professional personnel over the past three (3) years, in particular, your customer relationship personnel and cash management personnel.
5. Submit your institution’s non-discriminatory hiring policy. If your institution has a community outreach program(s) for hiring and/or contracting, please describe and attach applicable documentation.
6. Outline or describe the community reinvestment program the bank currently offers.
D. Deposits
1. Identify the general location of the Cash Vault, branch or other service centers where the deposits of the City’s Cashiering Operations will be recorded.
2. Provide specifications for any differential coin bag sizes for which you provide the same pricing as the Federal Reserve Board (FRB) standard bag size or on which you provide a discounted price.
3. Can you accept canisters of assorted U.S. dollar denominated coins of up to $500.00 per container to count and credit to our accounts? What measures do you take to insure proper accountability?
4. Describe how drafts and warrants are credited to customer accounts. Provide an availability schedule for such over-the-counter deposits and Cash Vault deposits. Give deposit deadlines.
5. What are the daily cut-offs for merchant card next-day availability?
6. What is the turnaround time to notify the City of “bad” checks or electronic funds transfers?
7. What is the turnaround time to notify the City of discrepancies in our deposits?
E. Lockbox
1. Describe the process and monitoring of mail from delivery until the checks are deposited. Include mail pickup schedules, processing shifts hours and days.
2. What is the lockbox address? Can a City of Long Beach address be used for the lockbox remittance?
3. What are your processing deadlines?
4. What is the institution's average error rate per 1,000 items processed?
5. Describe your institution's ability to deliver turnaround documents and to photocopy checks. When and how will these documents be delivered to the City?
6. Provide the current lockbox availability schedule. How often do you update these schedules, and how will the City be notified of changes?
7. Describe your lockbox data entry, document scanning and data transmission capabilities. What are the standards/requirements for modem-to-modem or Internet transmission?
F. Controlled Disbursement and General Disbursement Accounts
1. Where is the controlled disbursement account domiciled (institution name and location)? Is this an affiliate of your institution (subsidiary, etc.)?
2. Do you have a California controlled disbursement point? Do you have a controlled disbursement point outside California?
3. What is the presentment schedule, and at what time in the morning is the final daily clearing amount available?
4. Describe alternatives to controlled disbursement accounts in consideration of the City’s objectives to control bank balances and maximize investment of its funds. Include the relative benefits each alternative listed.
5. Describe your policy on stale dated checks.
6. What is the maximum dollar amount that can be transmitted via your electronic tax payment service?
7. Do you have the ability to provide images of paid items on all disbursement accounts (i.e., CD ROM or Internet)? How quickly are the images of the prior month’s cleared checks available in this format?
8. Can stop payments be placed on-line? Can copies of checks be ordered on-line? What would be the turnaround time for receiving a copy (front and back) of a cleared check or the original if requested?
G. Balance Reporting and Information Systems
1. Describe the minimum hardware requirements for your on-line system.
2. Does your system provide for Internet-based information reporting system? If not, do you plan to provide it in the future? If so, when?
3. Does your system have a scheduler module which allows automated report generation and print capability at any pre-scheduled time? Is this also provided for your Internet based system (if applicable)?
4. Briefly describe your system capabilities and those available for your customers. How long has your current system been in place?
a. Are there any major enhancements scheduled over the next two (2) years?
b. Is your system owned or leased?
c. Are any system services subcontracted to outside vendors?
d. List the number of security breaches experienced by your system over the past three (3) years.
5. Describe your institution’s backup and emergency and disaster recovery systems. How often are these systems tested?
6. Do you have a dedicated Southern California site(s) for emergency operations and can the City have access to the site to establish limited treasury services in the event of an emergency?
7. What was your system down time for the past year?
8. Provide a sample of standard prior day and same day reports. Include examples of the detail available for wire transfer receipts and other EFT receipts.
9. When is the following information available, PST:
a. Prior Day Balance and Transaction Information
a. Same-Day Lockbox Information
b. Same-Day Controlled Disbursement Information
c. Same-Day Wire Receipt Information (after wire is received by institution)
d. Same-Day ACH Receipt Information (available same day)
e. Are the reports listed above available in BAI2 format with text reference for automated import into other applications such as Excel and Access?
10.Describe the access control/security features of the balance reporting system. Describe security features that specifically address network usage.
11.Do you have a technical support hotline? What hours is it available? If not, who is to be contacted for support or problem resolution?
H. Wire Transfers
1. Describe the customer wire transfer input procedures for both repetitive and non-repetitive wires.
2. Describe fully the access control/security features of the customer wire transfer system. If you do not provide encryption/authentication security features, do you have test key security or a diskette based security feature?
3. Describe security features that specifically address network usage. What security procedures does your bank use to protect access to the City’s data?
4. How are hard copy advices of wire transfers provided to the customer?
5. Does your system provide for Internet-based wire transfer and ACH capability? If so, what security features do you incorporate to protect against fraud? If not, do you plan to provide it in the future? If so, when?
6. How many days prior to the effective date must a direct deposit payroll file be transmitted or delivered to the bank to insure funds are posted and available to employee accounts by 8:00 a.m. (PST) on the payroll date?
On-Us Other
Number of Days ______ ______
Transmission Deadline (PST) ______ ______
I. NSF or Returned Items
Provide your turnaround deadlines for informing customers of returned items.
J. Account Analysis
1. Describe how your earnings allowance rate is determined, including the index it is based on and the applicable time period (e.g., average 3-month T-bill for the prior month). Provide your customer’s earnings allowance rates for 2000 and 2001 by month.
2. Describe how customer FDIC charges and the balances to which they apply are calculated. Provide the FDIC rates charged to your customers in 2000 and 2001 (by month or quarter).
3. Describe how customer interest earned and interest paid is calculated and provide a monthly history of such rates for calendar year 2000 and 2001.
4. Submit a sample of your standard account analysis statement.
5. Indicate whether the account analysis is available through the PC-based on-line information service. If such access is available, can the analysis be converted to a Microsoft Excel format?
6. List the general types of services or supplies that may be charged through the account analysis. The City expects full earnings credit to soft-dollar expenditures.
7. Describe the protocol in the event of an account analysis dispute.
8. Describe any difficulties that would prevent you from providing the City with a fiscal year analysis (October 1st through September 30th). Would you consider an annual settlement cycle? If not, why not?
9. The City should be billed via invoice quarterly for any cumulative earnings credit shortfall. Are you willing to commit to this condition? If not, why not?
K. City Employee Services
1. What types of incentives will your bank offer City employees to open accounts and have their paychecks direct deposited?
2. What provisions will your bank make for employees to cash their paychecks or worker’s compensation checks if they do not have an account with your bank?
L. Investment Services
Describe the type and investment deadlines for any short-term investment services that would be available to the City, including sweep accounts, automatic daily repurchase agreements, money market funds, and overnight repurchase agreements. Provide samples of applicable investment and product agreements and prospecti.
M. Daylight Overdrafts
Describe your policy and typical customer arrangements for daylight overdrafts.
N. Community Based Products and Services
1. Describe your plan for establishing and expanding your community based banking and financial services in the City of Long Beach. Detail any specific plans to address banking and financial services needs in underrepresented areas of the City.
2. Provide specific information related to the scope and extent of your bank’s involvement and support for Long Beach businesses, foundations, charities and residents over the past five (5) years with an explanation of your level of involvement.
O. Public/Private Partnership
1. The City is interested in establishing a public/private partnership with the selected Contractor. Please describe your experience with establishing such a partnership and describe what benefits the City and the bank may derive from the establishment of such a relationship.
2. Describe how your institution would propose to partner with the City to sponsor community activities.
3. Provide references of other agencies that the Contractor has established this type of relationship and a description of the type of public/private partnership that was formed.
P. Implementation Process
1. Describe the process by which your bank would coordinate to ensure a smooth transition from the current provider as well as a schedule of the conversion process (to take no more than 90 days). Provide a detailed schedule of this plan in weekly increments.
2. Do you have an implementation process critical path analysis highlighting key milestones that may affect completion of the transition? If so, please include this analysis in your response.
3. Who is responsible for implementation, a conversion team or regular client service personnel? If a conversion team is used, how will our account be transitioned to the ongoing client service team?
Q. Supplemental Information
Based upon information presented in our RFP and your knowledge of the public sector, describe any enhancements, technological or otherwise, that we should consider to improve operational or cash management effectiveness including debt service or investment management.
R. Miscellaneous
1. What will be the turnaround for crediting City accounts for disputed charges, counterfeit checks, altered checks or forged endorsements?
2. Where does the bank process its coins? Do bank employees do the actual processing? Do the coins go to the bank first or directly to the processing facility or contractor?
3. Name the primary vendor that the bank uses to provide check stock and deposit slips. Provide a cost estimate for standard security check stock and uniquely identified deposit slips in 5,000 unit increments.
5. CONTRACTS & AGREEMENTS
A. Provide samples of your standard agreements for:
i) Deposit accounts
ii) Imprest accounts
iii) Wire transfer services
iv) Information reporting
v) Lockbox processing
vi) Merchant card services
vii) Foreign exchange facility
viii) Investment agreements
B. Provide other standard agreements applicable to the City’s service needs.
6. REFERENCES
A. Provide one (1) government services client reference of comparable size and services scope to the City and three (3) local municipal government clients of any size, including telephone numbers.
B. Provide two (2) references (public or private) which use the majority of the services required by the City, including telephone numbers.
C. How many government services clients have left the financial institution in the past two (2) years? Provide the stated reasons the customers gave.
SECTION 2: COST PROPOSAL
Please provide the per-item charge and the monthly cost for the general services listed below. Please indicate if there is a threshold for volume discounts. The schedule below has been provided in Microsoft Excel format on the floppy disk provided with this RFP. The file name is: RFP Pricing Template – City of Long Beach. Please populate the worksheet with your bank’s pricing data, and submit the worksheet along with your RFP response. Do not alter the worksheet and do not insert or delete any lines.
| |
|City Of Long Beach |
| |
|Department of Financial Management |
|Banking RFP Response Template |
| | | | |
|Bank Name: | | | |
| | | | |
|Account Services |Estimated Average Monthly |Charge Per Item |Total Monthly Cost |
| |Volume | | |
|General Account Services | | | |
|Monthly Account Maintenance (Number of Accounts Indicated) |60 | | |
|ZBA Account Monthly Maintenance (Number of Accounts Indicated)|3 | | |
|Charge for Mailing Statements to Multiple Addresses (Number of|60 | | |
|Accounts Indicated) | | | |
|Photocopy/Microfiche Copy |119 | | |
| | | | |
|Depository Services | | | |
|Deposit Tickets Processed At Banking Center |525 | | |
|Coin Deposited-Misc... Loose, Rolls |535 | | |
|Currency/Coin Deposited in Banking Center - Verified at |29 | | |
|Central Cash Vault | | | |
|Currency/Coin Deposited and Verified at Banking Center |5788 | | |
|Coin Supplied Per Roll at Banking Center |500 | | |
|Coin Supplied Per Box at Banking Center |4 | | |
|Currency Supplied Per $100 at Banking Center |187 | | |
|Vault Deposits Processed During Regular Working Hours at |10 | | |
|Banking Center | | | |
|Vault Deposits Processed During After 4 PM With Same Day |74 | | |
|Ledger Credit | | | |
|Deposit Tickets Processed At Cash Vault - Separate Tickets |189 | | |
|Used For Currency & Checks | | | |
|Vault Coin Deposited With Nonstandard Bag: Sorted |1 | | |
|Vault Coin Deposited With Nonstandard Bag: Mixed |16 | | |
|Coin Deposited At Cash Vault in Non-Standard Bag |15 | | |
|Coin Deposited At Cash Vault in Standard Bag |226 | | |
|Currency Coin Deposited At Cash Vault per $100 |11154 | | |
|Currency Supplied By Cash Vault per $100 in Standard Straps |4 | | |
|Change Orders Made To Cash Vault |2 | | |
|Coin Supplied Per Roll By the Cash Vault |38 | | |
|Currency Supplied Per $100 from Cash Vault |5 | | |
|Deposits Into Cash Vault After 4 PM For Same Day Credit |5 | | |
|Checks Deposited Fully Encoded |28069 | | |
|Checks Deposited Drawn on Local Clearing Bank |33637 | | |
|Checks Deposited Fully Encoded Drawn on Other 12 District |52141 | | |
|Banks | | | |
|Checks Deposited Fully Encoded Drawn on non-12th District |8286 | | |
|Banks | | | |
|Checks Deposited Bank Items |2024 | | |
|Checks Deposited Non-Bank Items |8771 | | |
|Deposited Item Returned |361 | | |
|Deposited Item Re-cleared |608 | | |
|Returned Item Notification Via Phone |25 | | |
|Corrections To Deposits |3 | | |
|Missing/Non-Std. Carrier Receipt |1 | | |
| | | | |
|Paper Disbursement Services | | | |
|Check Paid Per Item |11802 | | |
|Check Paid On NSF Balance |2 | | |
|On-line Stop Pay-12 mo. Stop |15 | | |
|Account Services |Estimated Average Monthly |Charge Per Item |Total Monthly Cost |
| |Volume | | |
|On-line Stop Pay-Check Inquiry |26 | | |
|6 Month - Single Stop Payment |6 | | |
|Check Sequencing |5528 | | |
|Document Imaging System Monthly Maintenance. |2 Accounts | | |
|Document Imaging Per Item |10163 | | |
| | | | |
|Paper Disbursement Recon Services | | | |
|Full Reconcilement Monthly Maintenance |3 Accounts | | |
|Partial Reconcilement Monthly Maintenance |2 Accounts | | |
|Partial Reconcilement - Per Item |5520 | | |
|Partial AR-Credit Per Item |1274 | | |
|Check Issuance Received via Diskette Per Item |647 | | |
|Check Issuance Received via Tape Per Item |4742 | | |
|Check Issuance Received Via Paper Listing |97 | | |
|Paid Check File Output Via Transmission |21 | | |
|Reconcilement Reports Provided via Microfiche |3 | | |
| | | | |
|General ACH Services | | | |
|Ach Payroll Direct Deposit Monthly Maintenance |1 Account | | |
|Consumer Debits Monthly Maintenance |1 Account | | |
|Tax Payments Through PC Based ACH |8 | | |
|Ach Payroll Direct Deposit Per Item Deposited to Your Bank |1250 | | |
|ACH Payroll Direct Deposit Per Item Deposited to Other Bank |4415 | | |
|(Not Your Bank) | | | |
|ACH Consumer Debits Per Item Charged To Your Bank |610 | | |
|ACH Consumer Debits Per Item Charged To Other Banks |1630 | | |
|ACH Items Debited to City Account From Other Accounts in Your |58 | | |
|Bank | | | |
|ACH Items Debited to City Account From Other Banks |18 | | |
|ACH Items Credited to City Account From Other Accounts in Your|292 | | |
|Bank. | | | |
|ACH Items Credited to City Account From Other Banks. |119 | | |
|Consumer Debits-ACH Returns |8 | | |
|ACH Payroll Transmission of Returns |1 | | |
|Dir Dep.-Transmit (1-9 Files) |2 | | |
|Consumer Debits Input (10+ Files) |9 | | |
|On-line Current Day ACH Detail Report |0 | | |
|On-line Tax Mail Receipt |8 | | |
|ACH Payroll Notification Of Change |3 | | |
|ACH Consumer Debits Notifications of Change |12 | | |
| | | | |
|Wire & Other Funds Transfer Services | | | |
|Outgoing Fed wire-Automated |47 | | |
|In Company End of Day Automated Book Transfer |0 | | |
|Outgoing Book Transfer-Automated |4 | | |
|Outgoing Intl Transfer-FX-Auto |2 | | |
|Telephone Transfers |0 | | |
|Incoming Wire Transfer |22 | | |
|Incoming Fed Auto |0 | | |
|Incoming Fed Non-Auto |0 | | |
|Account Services |Estimated Average Monthly |Charge Per Item |Total Monthly Cost |
| |Volume | | |
|Incoming Book Transfer |1 | | |
|Funds Transfer Advice Mail |0 | | |
|Funds Transfer Advice Phone |0 | | |
|Draw down Request-Fed wire Tran |2 | | |
|On-line Wire System Repetitive Code Storage |28 | | |
|On-line Wire System Maintenance |1 | | |
| | | | |
|Information Services | | | |
|On-line Previous Day Balance Rpt |0 | | |
|On-line Previous Day Detail Rpt |0 | | |
|On-line Current Day Standard Rpt |0 | | |
| | | | |
|Other Pricing | | | |
|Provide the estimated cost of conversion. Including | | | |
|endorsement stamps, check printing, deposit slips, etc. | | | |
|Indicate the mark-up % on vendor services (i.e. armored | | | |
|services, courier, check printing, etc.) | | | |
| | | | |
Note: All volumes are estimates only and there is no guarantee that these volumes will be met in the future.
SPECIFIC PRODUCT PRICING
Where indicated in the Statement of Work, please provide specific pricing estimates for each of the various services identified. Pricing estimates shall be listed in the order found in the Statement of Work.
City of Long Beach
REQUEST FOR PROPOSAL: BANKING SERVICES
EVALUATION PROCESS AND SELECTION CRITERIA
A committee shall perform the evaluation process.
All proposals will initially be evaluated on the following factors:
• Financial Strength and Stability
• Qualifications of Staff & References
• Proposal to Develop Public/Private Partnership Opportunities
• Public Sector Experience and Resources
• Commitment to Establish Community Based Products & Services
• Price
• Credit Ratings – BankScope or BankWatch
Banks will initially be ranked according to their evaluation scores and pricing. Qualifying banks, which attain the minimum acceptable score, will be invited to continue the evaluation process. The City will schedule interviews with semi-finalists. Contractors selected for interviews will be required to prepare a short presentation and to have present those representatives the City would be working with on a daily basis. For selected semi-finalists, the City may also schedule site visits at the local full-service branch and the government services branch (if applicable).
The City reserves the right to investigate the qualifications of all institutions under consideration and to confirm any part of the information furnished by a Contractor, or to require other evidence of managerial, financial or technical capabilities which are considered necessary for the successful performance of this contract.
The City reserves the right to:
1. Reject any and all of the proposals.
2. Issue subsequent Requests for Proposal.
3. Cancel the entire Request for Proposal.
4. Seek the assistance of outside technical experts in evaluation of the proposals.
5. Establish a short list of eligible banks for discussion after review of written proposals.
6. Negotiate with any, all, or none of the proposers.
7. Solicit best and final offers from all or some of the proposers.
8. Award a contract to one or more institutions.
9. Accept other than the lowest cost proposal.
10. Establish a “not to exceed” annual contract amount, essentially capping annual fees.
11. Waive informalities and irregularities in proposals.
|CITY OF LONG BEACH |
|REQUEST FOR PROPOSAL: BANKING SERVICES |
|TECHNOLOGY STANDARDS |
|APPENDIX A |
| | |
| | |
|Software: | |
|Operating Environment for Clients |Windows 2000 |
|Primary Software Package |Microsoft Office 2000 |
|E-mail System |Lotus Notes |
|Browser |Internet Explorer 5.50.4134.0600 SP2 |
| |Netscape Can be added too |
|Local Area Network |Windows 2000 Servers \ Ethernet 10/100 Mb |
| | |
|Data Relating To VPN |Dial-in to banks for this environment is provided by separate phone lines via a 56K modem for|
| |network security reasons. |
| | |
| | |
| | |
| | |
|Hardware: | |
|Computer |Gateway E-3400 |
|Processor |Intel Pentium III 733MHz - 1GHz |
|Modem |56K |
|Disk Drive Formats |CD ROM |
| |3 1/2" 2S HD |
| |iomega 250 MB ZipDrives |
|CITY OF LONG BEACH |
|REQUEST FOR PROPOSAL: BANKING SERVICES |
|LIST OF ACTIVE ACCOUNTS |
|APPENDIX B |
|COMMERICAL ACCOUNTS |ZERO BALANCE ACCOUNTS |
| | |
|General Account |Accounts Payable (ZBA) |
|LB Navy Asset Mgmt Prgm |Payroll (ZBA) |
|Gen Svcs-Video |Utility Refund (ZBA) |
|Fire Prevention | |
|Gen Svcs-Wireless Comm | |
|Gen Svcs-Voice & Data | |
|City Clerk - Election Workers |IMPREST ACCOUNTS |
|Oil Properties | |
|City Prosecuter |Harbor-Travel Adv (Imp) |
|Tech Svcs-Admin |Animal Control (Imp) |
|Fire Operations |Gas Dept-Admin (Imp) |
|Marina Refunds |Gas Dept (Imp) |
|COR Account |Personnel Dept (Imp) |
|Parks & Recreation Refund |Harbor Dept (Imp) |
|Sr Citizens Utility Tax Refund |Community Devel (Imp) |
|Housing Authority |City Auditor (Imp) |
|Job Training Prtnr/JTPA |Public Services (Imp) |
|Police Dept-Budget Ofc |Police Dept (Imp) |
|Fleet Services-Towing |City Attorney (Imp) |
|Planning and Building |Mayor's Office (Imp) |
|Public Library |Water Dept (Imp) |
|City Clerk |Public Works-Engin. (Imp) |
|Public Library-Order Dept |Financial Mgmt. (Imp) |
|Health Dept |City Manager (Imp) |
|Civil Service |Fire Dept (Imp) |
|Commercial Svcs-Support |Parks & Recreation (Imp) |
|Fleet Services |Public Library-Admin (Imp) |
|Public Works-Airport |Police-Bail Trst Fund (Imp) |
|Public Services-Refuse |Emergency (Imp) |
|Public Works-Solid Waste |Harbor-Maint Yard (Imp) |
|Waste Management |Drug Interdiction (Imp) |
|General Svcs-Support Svcs | |
|Information Services | |
|Summary of Investment Policy – APPENDIX C |
|Investment Type |Maximum Investment |Maximum Maturity |
|US Treasury Bills, Notes & Bonds |100% |5 years |
|Federal Agencies |100% |5 years |
|(Government National Mortgage Association (GNMA), the Federal Farm Credit |No more than 10% of the portfolio may be | |
|Bank System (FFCB), the Federal Home Loan Bank Board (FHLB), and the Federal|invested in any one Federal Agency issue or| |
|National Mortgage Association (FNMA) |government sponsored issue. | |
|Banker’s Acceptance |40% of market value of portfolio |180 days |
| |30% of market value of portfolio | |
| |invested with any one bank | |
|Commercial Paper |25% of market value of portfolio |270 days |
|(Ranked P1 by Moody’s and A1 by S&P. Issued by a domestic corporation having|10% of market value of portfolio | |
|assets in excess of $5 million and having an A or better rating on its long |invested with any one issuer | |
|term indentures.) | | |
|Negotiable Certificates of Deposit |30% of market value of portfolio |5 years |
| |10% of market value of portfolio | |
| |invested with any one bank | |
|Medium Term Corporate Notes |30% of market value of portfolio. 10% of |5 years |
| |market value of portfolio | |
| |invested with any one issuer | |
|Sell Put Options & Covered Call Options |Not Authorized |Not Authorized |
|Mutual Funds |20% of market value of portfolio |None |
|Repurchase Agreements |100% |90 days |
|Reverse Repurchase Agreements |20% of market value of portfolio |92 days |
|Local Agency Investment Fund |As permitted by State law |As permitted by State law |
|Certificate of Time Deposits |100% of market value of portfolio |5 years |
|Mortgage Pass-through Security, Collateralized Mortgage Obligation, |20% of the surplus money invested pursuant |5 years |
|Mortgage-backed or Other Pay-through Bond, Equipment Lease-backed |to state code | |
|Certificate, Consumer Receivable Pass-through Certificate, or Consumer | | |
|Receivable-backed Bond (maximum five years maturity) (Issuer rated A or | | |
|better) | | |
|Bonds, Notes, Warrants or Other Evidences of Indebtedness Rated A or Better |30% of the surplus money invested pursuant |5 years |
|of Any Local Agency within the State |to state code | |
|Securities Lending with Banks in the U.S. Rated A or Better |20% |5 years |
| | | |
|CITY OF LONG BEACH |
|REQUEST FOR PROPOSAL: BANKING SERVICES |
|ARMORED CAR COLLECTION CENTERS |
|APPENDIX D |
|PICK-UP LOCATIONS |FREQUENCY |
| | |
| | |
|City of Long Beach |5 Days Per Week |
|333 W. Ocean Blvd. |Monday Thru Friday |
|Long Beach, CA 90803 |Except Holidays |
| | |
| | |
|City of Long Beach |5 Days Per Week |
|Police Department |Monday Thru Friday |
|333 W. Ocean Blvd. |Except Holidays |
|Long Beach, CA 90803 | |
| | |
|Administration Building |5 Days Per Week |
|2760 Studebaker Road |Monday Thru Friday |
|Long Beach, CA 90815 |Except Holidays |
| | |
|Belmont Pool/Aquatics Camp |5 Days Per Week |
|4000 Olympic Plaza |Monday Thru Friday |
|Long Beach, CA 90803 |Except Holidays |
| | |
|Eldorado Regional Park |5 Days Per Week |
|@ Ranger Station |Monday Thru Friday |
|7550 E. Spring Street |Except Holidays |
|Long Beach, CA 90808 | |
| | |
|Sport Office |5 Days Per Week |
|4700 Deukmejian Drive |Monday Thru Friday |
|Long Beach, CA 90804 |Except Holidays |
| | |
|Queensway Parking Structure |5 Days Per Week |
|99 Aquarium Way |Monday Thru Friday |
|Long Beach, CA 90803 |Except Holidays |
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