Request for Proposal - pascoclerk.com · one (1) unbound, hard-copy original with original signature and five (5) bound, signed, hard-copied versions of the complete proposal. All

Office of Paula S. O’Neil, Ph.D. Pasco County Clerk & Comptroller

Request for Proposal

Comprehensive Banking and

Treasury Management Services

May 3, 2019

Request for Proposals for Comprehensive Banking and Treasury Management Services

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Contents 1. INTRODUCTION ...................................................................................................... 3

A. Objective ............................................................................................................ 3

B. Background Information ..................................................................................... 3

2. INSTRUCTIONS ....................................................................................................... 3

A. Issuing Office ..................................................................................................... 3

B. Proposal Submission ......................................................................................... 5

C. Contact Person .................................................................................................. 6

D. Proposal Schedule ............................................................................................. 6

E. Minimum Qualifications and Requirements ........................................................ 7

F. Selection Criteria ................................................................................................ 7

G. Terms and Conditions ........................................................................................ 8

3. SCOPE OF COMPREHENSIVE BANKING AND TREASURY MANAGEMENT SERVICES .................................................................................................................... 10

A. General ............................................................................................................ 10

B. Accounts Included ............................................................................................ 10

C. Availability of Funds ......................................................................................... 12

D. Web Based Banking Services .......................................................................... 12

E. Automatic Overnight Investment Program ....................................................... 13

F. ACH Transactions ............................................................................................ 13

G. Wire Transfers .................................................................................................. 13

H. Image Cash Letter (ICL) ................................................................................... 14

I. Account Reconciliation ........................................................................................ 14

J. Fraud Control ...................................................................................................... 15

K. Disaster Recovery Plan .................................................................................... 15

L. Reporting ......................................................................................................... 15

M. Customer Service and Problem Resolution ..................................................... 15

N. Other Banking and Treasury Management Services ........................................ 16

O. Prospective Services ........................................................................................ 17

4. Payment Terms and Conditions .............................................................................. 17

5. Proposal Format ..................................................................................................... 19

A. Cover Sheet (See Exhibit E) ............................................................................ 19

B. Minimum Qualifications and Requirements Checklist (See Exhibit A) .............. 19


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C. Transmittal Letter ............................................................................................. 19

D. Company Profile ............................................................................................... 19

E. Financial Information ........................................................................................ 19

F. References / Key Personnel ............................................................................ 19

G. Description of Scope of Services / Experience and Qualifications ................... 20

H. Customer Service ............................................................................................. 20

I. Prospective Services ........................................................................................... 20

J. Cost Proposal ...................................................................................................... 20

K. Exhibits and Attachments ................................................................................. 21

6. Summary ................................................................................................................ 21

Exhibit A .................................................................................................................... 23

Exhibit B .................................................................................................................... 24

Exhibit C .................................................................................................................... 27

Exhibit D .................................................................................................................... 28

Exhibit E .................................................................................................................... 29


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1. INTRODUCTION

A. Objective The purpose of this Request for Proposal (RFP) is to identify a banking institution that offers the highest quality comprehensive Banking and Treasury Management Services (Services), at the most advantageous cost to the taxpayers of Pasco County, Florida. This RFP is being issued by Paula S. O’Neil Ph.D. in her capacity as County Comptroller, Clerk to the Board of County Commissioners, and Clerk of the Circuit Court. The services requested are for both the Pasco County Board of County Commissioners (BCC) and Pasco County Clerk of the Circuit Court (Clerk & Comptroller). All information submitted in response to this RFP is subject to the public records law in Chapter 119, Florida Statutes. Any material that a Proposer believes is exempt from public records must be clearly identified, with explicit notation of the applicable statutory exemption. B. Background Information The Clerk & Comptroller, a constitutional officer of and for Pasco County, Florida, a political subdivision of the State of Florida, is responsible for a variety of functions related to the citizens of Pasco County. One of these functions is to serve as the accountant and custodian of county funds. This includes, but is not limited to providing accounting services to all departments under the BCC. The Clerk & Comptroller is responsible for processing and collecting approximately $725 million in revenues, in addition to approximately $601 million in expenditures. The collection of revenues occurs at various sites throughout the County for a variety of different functions. The County currently utilizes 9 separate banks accounts with a varying level of daily balances. As of September 30, 2018, the various banks accounts had a closing ledger balance of approximately $58 million. As of September 30, 2018, a total of 2,429 employees accounted for $4.6 million in payroll. In addition, the Clerk & Comptroller processes over $225 million in receipts directly, as well as, $19 million in revenues, directly related to Clerk operations. This figure does not include the 292 employee direct deposits that are processed biweekly for a total of $313 thousand. 2. INSTRUCTIONS A. Issuing Office This Request for Proposal (RFP) is issued by the Office of the Clerk & Comptroller, Pasco County, Florida. The Clerk & Comptroller is an independent office created pursuant to Article V and Article VIII of the Florida Constitution. All communications to the Clerk & Comptroller regarding this RFP, hereinafter referred to as “RFP,” must be


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done through the Clerk & Comptroller’s Office via email. See Section C, entitled Contact Person. Any person or business organization that submits a response to this RFP will be referred to as a Contractor, Proposer, or Vendor. The term “Proposer” includes Proposer’s employees, agents and subcontractors. A response to this RFP is referred to as a Reply or Proposal. By virtue of submitting a proposal, Proposers are acknowledging that the Clerk & Comptroller reserves the rights as outlined herein: A) The Clerk & Comptroller reserves the right to accept, reject in whole or in part

any and all replies, to waive formalities or minor irregularities, to negotiate final costs and terms, and to accept or negotiate proposals that are determined to be most advantageous to the Clerk & Comptroller, in the Clerk & Comptroller’s sole discretion.

B) This process is for the benefit of the Clerk & Comptroller only, and is intended to provide the Clerk & Comptroller with competitive information to assist in selection. All decisions on compliance, evaluation, terms, and conditions shall be made solely at the Clerk & Comptroller’s discretion and made to favor the Clerk & Comptroller.

C) All materials submitted in response to this RFP become the property of the Clerk & Comptroller and will be a matter of public record subject to the provisions of Chapter 119 of the Florida Statutes.

D) The Clerk & Comptroller reserves the right to negotiate with the selected Proposer according to the process and procedures outlined herein, and to unilaterally determine that negotiations are successful or unsuccessful, until the Clerk & Comptroller rejects all offers or replies and terminates the process, or until the Clerk & Comptroller negotiates successfully with a selected Proposer and a contract is executed.

E) No Proposer shall have ANY rights against the Clerk & Comptroller arising from or as a result of submission of a proposal or as a result of or arising from being selected as a Proposer for negotiation.

F) The Clerk & Comptroller DOES NOT INTEND to be bound by the terms of any proposal or negotiation. The Clerk & Comptroller DOES NOT INTEND that a contract be formed as a result of a proposal or as a result of a Proposer being selected for negotiation.

G) No contract shall be formed until there is a signed contract executed by the Clerk & Comptroller detailing the terms and conditions of the completed negotiations.


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H) The Clerk & Comptroller’s decisions are final, and all Proposers responding to this RFP agree to be bound by the Clerk & Comptroller’s decisions.

I) A Proposer waives and relinquishes any claim, cause, or suit against the Clerk & Comptroller, Pasco County, the Pasco County Board of County Commissioners (BCC), and all of the agents, employees, and Elected Officials of Pasco County, arising out of the administration, evaluation, scoring, selection, or negotiation of the RFP.

B. Proposal Submission All hard-copy replies must be submitted on 8½ x 11 inch paper. All replies shall include one (1) unbound, hard-copy original with original signature and five (5) bound, signed, hard-copied versions of the complete proposal. All proposals are subject to the conditions specified herein. Those which do not comply with these conditions are subject to rejection. It is intended that there be one original with an original signature and that the photocopies need not have original signatures. All replies must be received in the Office of the Pasco County Clerk & Comptroller no later than the deadline stated in the timetable. Responses to this RFP will be submitted in a single sealed envelope, and clearly identified as:

BANKING AND TREASURY MANAGEMENT SERVICES PROPOSAL and mailed directly to:

Honorable Paula S. O’Neil, Ph.D. Pasco County Clerk & Comptroller Attn: Manny Long, Finance Director

38053 Live Oak Avenue Dade City, FL 33523

In addition to hard copies, an electronic submission is required and should be submitted to: Manny Long, Finance Director, [email protected] cc: Matthew Lazar, Financial Services Manager, [email protected] with the subject line of: RFP – Banking and Treasury Services (Proposer’s Name) Proposers are responsible for informing any commercial delivery services, if used, of all delivery requirements and for ensuring that the required address information appears on the outer wrapper or envelope used by such services.

mailto:[email protected]



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C. Contact Person The contact person for this RFP is Mr. Manny Long, Finance Director. Please be advised that the Clerk & Comptroller will not respond to any oral inquiries. Any questions regarding this RFP shall be submitted by email or letter to:

Pasco County Clerk & Comptroller Attn: Manny Long, Finance Director

38053 Live Oak Avenue Dade City, FL 33523

Email: [email protected] cc: [email protected]

Proposers are advised that, from the date of release of this RFP until notice that the Proposer selection for negotiation is complete, ALL CONTACT regarding this RFP must be through email or letter to the Finance Director. No direct contact with any Clerk staff or County staff is permitted. The Clerk & Comptroller will select Proposers for negotiation following the evaluation of proposals. The Proposer selection will be electronically posted on the Clerk & Comptroller’s website. If you are selected to negotiate, the Finance Director will contact you via email and/or certified mail with negotiation information and scheduling. D. Proposal Schedule The following is a listing of actions and anticipated dates:

May 1, 2019 Distribution of Request for Proposals

May 17, 2019 All questions are due by 5:00 p.m.

May 24, 2019 Answers to questions will be sent to all potential proposers

June 7, 2019 Proposals must be in the possession of the Director of Finance by 2:00 p.m. Any proposal received after 2:00 pm will be returned unopened.

June 19 - 21, 2019 Qualified proposer meetings

June 28, 2019 Notification to all proposers on selected bank

October 1, 2019 Implementation date for the banking contract




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E. Minimum Qualifications and Requirements Every proposer must meet the established minimum requirements to be eligible to respond to this RFP, as outlined in Exhibit A, “Minimum Qualifications and Requirements Checklist.” F. Selection Criteria To facilitate evaluation by the Clerk, a complete response to all the following items is requested. The criteria listed below will be used to evaluate the response and to select the highest ranking proposer: 1. Financial Strength

The Clerk will evaluate the financial strength of the proposer through the review of financial statements, as well as, the review of rating provided by Moody’s and Standard & Poor’s.

2. Proposed Fees and Compensation

Aggregate Banking and Treasury Management Services cost, per identified activity, as outlined in Exhibit B, “Cost Proposal” will form the basis for this evaluation, in conjunction with the receipt of the highest rate of return on assets, invested in accordance with regulatory guidelines for governmental agencies.

3. Experience and Qualifications

Ability to meet current and projected service requirements identified in Section 3, “Scope of Comprehensive Banking and Treasury Management Services” over the term of this banking and treasury management services contract (any past experiences with the bank will be taken into consideration).

The Clerk & Comptroller will review many other factors, including but not limited to the proposer’s capabilities to handle Web Based Banking Services and Image Cash Letter processing. The Clerk & Comptroller will also evaluate similar experience with other agencies of similar size, and will interview references provided to confirm and to obtain additional information about service delivery and customer satisfaction. For this purpose, each proposer will provide five references where similar services were provided (three (3) current and two (2) prior clients), including the length of time the proposer provided the services, client’s name, contact personnel, address and phone number. Please assume that the Clerk will contact these clients without notice.


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4. Customer Service and Problem Resolution

The Clerk & Comptroller will review and evaluate the proposer’s Customer Service and problem resolution program. The proposer should list established response times for research and adjustment inquiries, as well as, clearly describe how inquiries will be handled.

5. Prospective Services In addition to the Services requested in this RFP, the Clerk & Comptroller is seeking an institution that will take an active interest in the BCC and Clerk & Comptroller operations. Both offices welcome new, innovative, and visionary process improvement recommendations on how to conduct its banking and treasury management service operations in a more efficient and effective manner. To assist the proposer in this area, please refer to the Section 3, “Scope of Comprehensive Banking and Treasury Management Services” Item O, “Prospective Services.”

G. Terms and Conditions 1. The Clerk & Comptroller reserves the right to reject any or all proposals, to waive

any irregularities or informalities in any proposal or in the proposal procedures, and to accept or reject any item or combination of items. The award will be to the proposer whose proposal complies with all the requirements set forth in this RFP, and whose proposal in the opinion of the Clerk is the best proposal taking into consideration all aspects of the proposer's response, including the total net cost to the Clerk & Comptroller. Exceptions to any specification must be placed on Exhibit C, “Proposal Exception Form” and will be quantified in the final analysis of the proposal. Failure to include an exception on Exhibit C will render the exception as invalid and the proposer will be treated as being in non-compliance with the specification, regardless of intent, and may be deemed to be unresponsive and eliminated from further consideration.

2. In the event that the proposer to whom the services are awarded does not execute a

contract within fifteen (15) calendar days after the award of the bid, the Clerk & Comptroller may give notice to such proposer of intent to award the contract to another proposer. The Clerk & Comptroller may request new proposals and may proceed to act accordingly. The Clerk & Comptroller assumes no liability to reimburse costs by the proposers in preparation of this proposal response.

3. Exhibit B, “Cost Proposal”, indicates an estimate of the expected volume of

transactions for the fiscal year ending September 30, 2019. This number is the Clerk & Comptroller’s best estimate of the average volume and the Clerk & Comptroller in no way guarantees these as minimum or maximum volumes.


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4. Exhibit C, “Volume/Cash Balances Monthly Breakdown”, provides a history of the average net collected balances per month. These figures are based on funds in maintained by both the BCC and Clerk & Comptroller, not necessarily projected balances for the proposer’s bank.

5. Proposers shall thoroughly examine and be familiar with these RFP specifications

and all Addenda issued. The failure or omission of any proposer to receive or examine this document shall in no way relieve any proposer of obligations with respect to this proposal or the subsequent contract.

6. The Clerk & Comptroller shall not be bound by the terms of any proposal or

negotiated offer. No contract will be formed as a result of submission of an RFP or being selected as highest ranking proposer or being selected to negotiate. The Clerk & Comptroller does not intend to be bound or obligated in any form to any proposer until successful execution of a formal contract.

7. The contract may be terminated by the Clerk & Comptroller upon giving ninety (90)

calendar days written notice to the bank. The bank may resign as the BCC and Clerk & Comptroller depository bank upon giving written notice to the Clerk no less than one hundred eighty (180) calendar days prior to the proposed termination date. The bank shall be entitled to just and equitable compensation for any satisfactory work completed prior to the termination date. Under no circumstances will any damages be paid as a result of the termination of this contract.

8. When the Clerk & Comptroller has tentatively selected the successful proposer, a

conference may be requested to formulate plans in greater detail, to clarify any unclear items, and to otherwise complete negotiations prior to the formal award. At any time during the conference, the Clerk & Comptroller may choose to modify her choice of a selected proposer if the Clerk & Comptroller, at her discretion, determines that such a change is in the best interest of the Clerk’s office.

9. The Clerk requires an implementation or conversion plan including an estimated

time line as a part of the proposal. 10. In accordance with Section 119.071, Florida Statutes, sealed bids, proposals, or

replies received by an agency pursuant to a competitive solicitation are exempt from public inspection until such time as the agency provides notice of an intended decision or until thirty (30) days after opening the bids, proposals, or replies, whichever is earlier. Proposals will be on file in the Finance Department of the Clerk & Comptroller’s Office.

11. Failure to comply with any of the terms and conditions of this RFP by the awarded

bank will be cause for termination of the “Comprehensive Banking and Treasury Management Services Contract.”


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12. In the event of a merger with another financial institution of the awarded bank, the bank agrees to continue this contract at the same terms and conditions agreed on.

3. SCOPE OF COMPREHENSIVE BANKING AND TREASURY MANAGEMENT SERVICES

A. General The Banking and Treasury Management Services detailed in this section will be performed for both the BCC and Clerk & Comptroller on a contractual basis for the period October 1, 2019 to September 30, 2022, with an option to renew annually. The Clerk & Comptroller must be advised by October 1st or 180 days prior to the renewal year of any anticipated increases that would become effective in the renewal period. Otherwise, the awarded bank will provide services during the renewal period at the same costs provided during the initial three year period of the contract. It is the intent of the Clerk & Comptroller that a single bank provides all the Banking and Treasury Management Services specified in this proposal however, the Clerk & Comptroller reserves the right to invest funds using various investment opportunities as the market and investment policies dictate.

Bank service charges included within Exhibit B, “Cost Proposal” will be considered the total cost of providing that service as herein defined in this RFP. The specific services currently provided by the bank for the BCC and Clerk & Comptrollers along with the current activity levels are provided within Exhibit B. If you have additional services or charges in addition to these, they must be included on Exhibit B at time of proposal submittal. After the contract has been awarded, any additional charges to provide the defined services will not be allowed, and if not removed, will subject the Banking and Treasury Management Services contract to termination by the Clerk & Comptroller in accordance with the terms set forth in this RFP. Any changes in the scope of the services, including any additional service charges, will be subject to negotiation between the Clerk & Comptroller and awarded bank. B. Accounts Included The following nine (9) Clerk & Comptroller accounts: 1. Holding Account – This account was established for holding funds that require

further decisions related to pending judgements.

2. Operating Account (ZBA) – this account is the main operating account of the BCC and is used in the payment for vendors.

3. Payroll Account (ZBA) – this account is used for the processing of all direct deposits and checks related to employees (payments are made bi-weekly).


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4. Pooled Cash Account – This account is utilized in the collection of all county deposits and withdrawals (All ZBA accounts are connected to this account).

5. Auction and Foreclosure Account – This is the holding account for all bidder funds related to Real Auction transactions.

6. Registry Account – This account was established to hold funds related to court order.

7. Tax Deed Account – This is a separate holding accounts related to Tax Deed Bidder Funds.

8. SDUCSE Account – The account serves the primary purpose of holding deposits and processing transfers related to child support monies collected by the Clerk & Comptroller.

9. Flexible Spending Account – this is one of the newer established accounts which serves the purpose to separate any employee insurance (FSA) related funds from everyday activities. All FSA related transactions occur via this account.

Along with the eight (8) BCC accounts are included in this RFP: 1. Accounts Payable Account (ZBA) – this account is the main operating account of

the BCC and is used in the payment for vendors.

2. ePortal Account (ZBA) – this account is used in the collection of all County Attorney onlines fees ($305 per online filing).

3. Imprest Account – this account is used for the deposit of reservation fees and allows vendors to perform direct debits for fees charged to the county (account maintains $1,000 balance).

4. Payroll Account (ZBA) – this account is used for the processing of all direct

deposits and checks related to employees (payments are made bi-weekly).

5. Pooled Cash Account – This account is utilized in the collection of all county deposits and withdrawals (All ZBA accounts are connected to this account).

6. UT Enterprise Account – This account was established to process all UT daily deposit information.

7. UT Deposit Account – This account is used in the collection of all customer deposits related to utility billing (maintains a $50,000 balance).

8. UT Refund Account (ZBA) – This account is used in the processing of all refunds to utility billing customers.


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C. Availability of Funds Deposit Deadline The awarded bank will provide deposit deadline schedules for each of its branches that will allow the bank to implement the ledger cut-off time set forth below. In addition to the items below, please include any and all specifications related to availability of funds. If deadlines differ from the Federal Reserve Bank availability schedule, please provide detail. Please include any detail regarding the following: • Cutoff times and requirements by locations (vault, teller, bank center, branch)

• Credit advices processing • Discrepancy and write-off policies • Type of deposits bags that are required • Change order processing • Return and re-clear processing • Deposit locations D. Web Based Banking Services The awarded bank agrees to provide the Clerk & Comptroller with internet access to the various secure web based banking and treasury management services that are available. The web based banking services should include, but not be limited to: • Ability to initiate and review ACH transactions made and received (to include ACH

debits and reversals) • Ability to initiate and review wire transactions made and received • Ability to initiate and review account transfers • Ability to initiate and review stop payment orders

• Ability to review current day account balances and daily detailed activity (all

deposits, credits, debits, transfer, and adjustments) • Positive pay services • Account reconciliation services


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• ACH/Wire Alert services • Any other alerts deemed necessary by the Clerk & Comptroller Please list any and all software requirements needed to access the various online banking services that are available to clients. The proposer shall also provide a detail listing of the current retention policy. This should include information that can be obtained by the clients via online services as well as through the customer service department. E. Automatic Overnight Investment Program The proposer agrees to automatically invest the collected balance in each of the BCC and Clerk & Comptroller accounts on a daily basis at the close of business, including any wire transfers received after 4:00 pm, on the same business day. Please describe, in detail, how interest in the overnight sweep investment will be calculated and credited on all accounts. F. ACH Transactions The Clerk & Comptroller processes ACH transactions to and from corporate vendors and individuals on a daily basis. These ACH payments come in a variety of forms: bi-weekly direct deposit for approximately 2,700 employees, collection and disbursement related to utility billing accounts, payments to credit card vendors, collection of grant related revenues, and collection and disbursement of various other revenue and expenditure related items. Please describe the ACH debit daily limits, as well as the process to override these limits. In addition, please provide a detailed description of the ACH transaction services offered. This information should include, but not be limited to, method by which ACH files are to be submitted to the bank, the pre-notification policy, and added security measures related to the ACH process. With the above statement, the proposer must be both a sending and receiving bank associated with the National Automated Clearing House Association (NACHA). G. Wire Transfers Incoming Unless listed as an exception in Exhibit C, the Clerk & Comptroller will consider any wire transfers “available for investment” on the day they are received by the bank.


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Outgoing The proposer agrees to execute all orders for outgoing wire transfers by 5:00 pm. The Clerk & Comptroller agrees to notify the bank, via secure internet access, of any outgoing wire transfers by 2:00 pm. Ay adjustment will be made, if necessary, for any lost interest, or charges resulted from a “fail” to consummate an investment transaction. Process Please describe, in detail, the process by which the Clerk & Comptroller can process a wire transfer request. Please make sure to include at the minimum, how the Clerk & Comptroller can monitor all incoming and outgoing requests, create and store recurring wire instructions (templates), create future dated wire transfers, and the various security measure that the proposer has in place for the initiation and approval of wire transfers. H. Image Cash Letter (ICL) Various departments within the BCC utilize Image Cash Letter to increase efficiencies as well as reduce overall deposit float. Currently departments process payments through a high-speed remittance processor that creates the image files. The current software used for the ICL process is Aperta and RevSpring. Please specify if the proposer has any experience working with these particular vendors and software. Provide in detail the current procedure, and related workflow, for supporting both qualified and unqualified image cash letters. Please be specific in regards to file limits, deadlines for submission of files, listing of eligible and ineligible items for deposits, and how adjustments and returns will be handled. Make sure to include a listing of proposer provided (at no cost to client) hardware and software requirements related to transmission of these files. What timeframe does the proposer require to implement the ICL process with a new client? I. Account Reconciliation At this time the BCC and Clerk & Comptroller have the ability to integrate bank software with the ERP System (MUNIS) to assist in the reconciliation of bank account activity. The proposer should provide details regarding the partial, full, deposit, and serial sort reconciliation process. This information should include, but not be limited to; reporting capabilities (include) sample reports, file transmission deadlines and layout requirements, imaging capabilities, and system requirements for all interfaces.


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J. Fraud Control Please provide details on any financial fraud control services that are offered by the bank. The Clerk & Comptroller currently uses Positive Pay, Stop Payment, and ACH Fraud Control. Additionally, please provide the associated costs of these features in Exhibit B. Positive Pay The Clerk & Comptroller currently applies positive pay services to all bank accounts that have check issuing capability. What are the file requirements, data transmission methods, and time windows associated with the proposers positive pay process. Please also provide any details and sample reports related to this process. Stop Payment Services Similar to the positive pay process, the Clerk & Comptroller applies this service to all accounts with check issuing capability. Please provide details on the stop payment process, making sure to include confirmation requirements, duration of a stop payment and the renewal processing option. ACH Fraud Control The proposer shall provide detail on the various ACH Fraud Control practices that are currently available to clients, along with the various costs. K. Disaster Recovery Plan The proposer will describe the electronic data procedures used to provide Banking and Treasury Managements Services along with backup and recovery capabilities. Please list the off-site facilities and their associated locations. Please provide details on the process that is followed when a site must be activated in the event of an emergency. L. Reporting The proposer will need to provide detail on the frequency, format, availability, and retention of various reports. Please provide sample reports for review by the Clerk & Comptroller. M. Customer Service and Problem Resolution Describe the overall layout of the proposer Customer Service Personnel. This should include, but not be limited to, the chain of command in which customer services requests should be submitted. The proposer should list in detail the overall problem resolution process, which should include at minimum:


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• Days and hours of operation for the customer service department

• Location of customer service team • Procedure for handling inquires requiring research and potential adjustments • Established turn-around times (must be less than three (3) business days) • Record on meeting the established response times • Technical customer support for all computer software and communications related

issues It is the desire of the Clerk & Comptroller that the proposing bank provide the names of a designated account executive, as well as an alternate. The designated account executive and alternate must have the authority to make timely decisions, on their own, during the normal course of business. N. Other Banking and Treasury Management Services • The bank agrees to provide MICR check specification to the check printer or laser

MICR encoding as may be required by the BCC and Clerk & Comptroller.

• Provide listing of electronic document storage options that are available (CD, online, etc.) as well as overall retention periods.

• Detail the various lockbox services that are available to the BCC and Clerk &

Comptroller. • Detail the payment card (prepaid and merchant services) options available to all

clients of the proposer. • Detail the purchase card services available to the BCC and Clerk & Comptroller

(card managements process, settlement terms, payment options, and administrative control options).

• Overall overdraft protections and processes that is currently in place for the proposer

and made available to all clients. • Notification of potential uncollected funds over a certain amount (incoming return

items that have been deposited and subsequently returned) is required on a daily basis.

• All debit and credit memos required to adjust errors caused by the proposer will not

be charged to the BCC or Clerk & Comptroller. All deposit errors must be accompanied by a copy of the particular deposit slip. Memos must list the original


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date of the deposit, date of correction, amount, reason, and department reference. All errors caused by the proposer must be corrected within three business days of notification by the BCC and Clerk & Comptroller. All deposits are assumed to be correct unless the proposer notifies the Clerk & Comptroller within three business days of any errors. Notification must identify the date, amount, deposit location and problem. Changes to deposits by bank personnel must be accompanied by a copy of the check and the check tape.

• All debit and credit memos must be sent to the Clerk & Comptroller’s designate. • The bank agrees to respond to all inquiries and to make all necessary corrections of

errors within three business days.

• The bank will describe the bank’s notification and adjustment process used when counterfeit bills or fraudulent checks are discovered.

• Stop payments will be transmitted to the proposer bank with inquiry capability

against various accounts. • All stop payments will take effect on the date transmitted to the bank and will be

processed before any check presentments for that date.

• The bank will post prior month’s interest/investment earnings by the fifth business

day of the following month.

• Coins and currency are requested by the branch offices. This procedure should be a simple exchange so no transactions should be recorded in the BCC or Clerk & Comptroller’s bank accounts. Please specify your procedure with timeframe and provide a standard fee for providing this service as needed.

• Other services which banks customarily provide at no cost should be identified on

Exhibit B, “Cost Proposal” and notated with “No Charge”. All other supplies must be priced and included in the proposal submitted.

O. Prospective Services The BCC and Clerk & Comptroller desire to consider additional or enhanced services not currently provided. The proposing banks are requested to provide a brief description of any additional service not previously identified, user requirements, the bank’s capability to provide the service, and a schedule of service and related charges. 4. Payment Terms and Conditions The proposer’s method of compensation for services performed must be clearly stated. Proposing banks that utilize minimum balance requirements, interest bearing accounts,


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compensation accounts, and/or fee schedules must clearly state the basis for their compensation. This information must include, but is not limited to, schedule for bank fees and minimum balance requirements, if any. The BCC and Clerk & Comptroller prefer an option to pay for services through the use of an Earnings Credit Allowance. If an Earnings Credit Allowance is offered, an average yearly target balance will be maintained in the Distribution Account. Describe the method used to calculate the earnings credit rate (ECR). Is the reserve requirement deducted from the available balance before the ECR is calculated? If not, please include an explanation of the impact of the bank reserve requirement, the bank formula for converting service charges to balance requirements and a listing of the bank earnings credits and reserve requirements for the last 12 months. Please see attached (Exhibit D), “Volume/Cash Balances Monthly Breakdown” for schedule estimated annual volume. The awarded bank will prepare on a monthly basis, by the seventh business day of the month, a bill for services rendered. The billing will be prepared in a format similar to the “Cost Proposal” form (Exhibit B) and will use the same terminology as that included on the bank’s cost proposal form submitted. Total service charges will be calculated based on the actual number of transactions for a month multiplied by the fixed charge per item. It is the intention of the BCC and Clerk & Comptroller that all per-item charges remain fixed over the life of the initial contract. There is an understanding that an adjustment in a per-item charge may be necessary based on price changes by the Federal Reserve System. Adjustments in per-item charges will only be allowed by complying with the following conditions: The per-item charge (or portion thereof) will change only for corresponding adjustments in the Federal Reserve System's Fee Schedules on or after the effective date of the adjustments. Changes in the Federal Reserve Fee Schedules must be final and not proposed. The awarded bank will provide the BCC and Clerk & Comptroller a copy of the Federal Reserve System's notification supporting the adjustment with the “Monthly Service Charge Report.” The bank will list any other new or proposed services not otherwise outlined in this RFP. Fees for Banking and Treasury Management Services, not indicated within this proposal, will be considered as provided at no additional cost than what is submitted in the proposal.


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5. Proposal Format The Clerk & Comptroller is requesting concise descriptions of the proposer’s services along with their ability to meet the various requirements. The proposer must demonstrate an understanding of the BCC and Clerk & Comptroller’s needs, as well as, the proposer’s experience, qualification, and existing capabilities to meet the services needs identified in Section 3, “Scope of Comprehensive Banking and Treasury Management Services”. To facilitate the evaluations process, the proposal must be organized in the following manner: A. Cover Sheet (See Exhibit E)

B. Minimum Qualifications and Requirements Checklist (See Exhibit A) C. Transmittal Letter The transmittal letter must accompany the proposal and have the signatures of an authorized individual. This will bind the proposer to all information contained within the proposal. Please provide a brief synopsis of the proposer’s understanding of the BCC and Clerk & Comptroller’s needs and why the proposer feels that they can best meet those needs. D. Company Profile The proposer must supply its legal name, corporate headquarters address, local office address, contact names and contact information of key individuals by operations area. The proposer must maintain its home office or a full service branch bank within Pasco County (provide a map of locations). E. Financial Information The proposer must provide a complete set of financial statements including the opinion page and related footnotes. The proposer must also provide the most recent ratings from Moody’s and Standard & Poor’s, which at a minimum should include the ratings for “Financial Strength”, “Bank Deposits” and “Issuer Rating.” F. References / Key Personnel The proposer should supply public/governmental references, with similar size and characteristics of both the BCC and Clerk & Comptroller, where similar services requested in this RFP were provided. Proposer must include client’s name and client contact’s information to include address, telephone and fax numbers, and e-mail


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address. The lack of public/governmental references will not necessarily eliminate the proposer from consideration. The proposer must include names of key personnel that will be assigned to the BCC and Clerk & Comptroller’s account, along with title, years employed with the proposer and summary biographies of each key person identified. Changes in key personnel cannot be substituted without prior notification of the BCC and Clerk & Comptroller. G. Description of Scope of Services / Experience and Qualifications The proposer should describe in detail its services and service capabilities for each item described/requested in Section 3, “Scope of Comprehensive Banking and Treasury Management Services”. This section should specifically state the proposer’s proposed rate of interest on the cash and cash equivalents of the BCC and Clerk & Comptroller, as well as, any preconditions for receiving this interest rate. The proposer must agree or affirm, that if during the course of this agreement, a higher interest rate is offered to any other organization of similar size and characteristics, that the BCC and Clerk & Comptroller’s rate will be adjusted to reflect the higher rate. H. Customer Service Please see Section 3, “Scope of Comprehensive Banking and Treasury Management Services” Item M, “Customer Service and Problem Resolution” for additional information on this subject. I. Prospective Services See applicable sections in Section 2, “Instructions” Item F, “Selection Criteria” and see Section 3, “Scope of Comprehensive Banking and Treasury Management Services” Item O, “Prospective Services” for detailed discussions on this subject. J. Cost Proposal Use of the “Cost Proposal” form (Exhibit B) or a copy thereof is required of all proposers. No proposal will be considered without amounts being placed on this form. If there is no charge, then “No Charge” should be indicated. If the bank is unable to meet or exceed the requirements specified, then the phrase "No Proposal" should be entered for that particular item. The Clerk & Comptroller will NOT accept a listing of the various Banking and Treasury Management Services provided by the proposing bank in lieu of Exhibit B. The proposing bank must price each and every service that the proposing bank provides based on the volumes provided by the Clerk & Comptroller. Failure to meet this specification may render the proposal invalid.


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The Clerk & Comptroller requests that the bank complete the “Cost Proposal” (Exhibit B) using Excel (or equivalent) and submitting both a paper copy of Exhibit B and an electronic copy of the Excel file with the same information. The proposal will be on a variable cost basis. Under the variable cost method, actual monthly services will be counted and the volume of transactions will be computed to determine the amount to be paid. The Clerk & Comptroller reserves the right to eliminate any individual service contained in the bid if, based on analysis, the fees for providing the service are excessive, or if the service proposed can be administratively performed in an alternative manner. Each bank should review the proposal form and price each service specified. Per-item charges should be extended to the “Annual Charges” column. K. Exhibits and Attachments All proposers are required to complete and submit with the proposal submittal all required exhibits and attachments. 6. Summary All proposers are requested to address each of the items contained in this RFP, complete all exhibits, include all attachments, forms, and reports and return the completed proposal submittal to the Clerk & Comptroller by the due date in accordance with the instructions contained herein. The Clerk & Comptroller intends to enter into a formal Banking and Treasury Management Services Contract with the successful proposer which will incorporate all provisions of the Request for Proposal. Additional terms and conditions will not be included in the Contract unless mutually agreed to by both parties.


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EXHIBITS


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Exhibit A

Office of Paula S. O’Neil, Ph.D Pasco County Clerk & Comptroller

Minimum Qualifications and Requirements Checklist Yes No

1. Proposer maintains its home office or a full service branch within

Pasco County.

2. Full services branch must be able to perform the full range of services required in the RFP.

3. Proposer maintains certification as a “Qualified Public Depository” under the Florida Security for Public Deposits Act (Chapter 280 of Florida Statutes).

4. Proposer has submitted one set of financial statements for the past two (2) fiscal years (must include an auditor’s unqualified opinion and appropriate notes to financial statements).

5. Proposer has provided the most recent ratings for Financial Strength, Bank Deposits, and Issuer Rating from both Moody’s and Standard & Poor’s, if applicable.

6. Proposer has submitted a copy or Executive Summary of the Disaster Recovery Plan.

7. Proposer has completed all Exhibits and Attachments required by this RFP.

8. Proposer is in good standing (i.e. has not been debarred or suspended from proposing on any governmental work during the last five years).

9. Must be a member of the National Automated Clearing House Association and be able to initiate and received Automated Clearing house (ACH) transactions.

10. Must be insured by the Federal Deposit Insurance Corporations (FDIC).


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Exhibit B

Office of Paula S. O’Neil, Ph.D

Pasco County Clerk & Comptroller Cost Proposal

BCC Clerk Services provided Annual Volume Annual Volume Unit "Per" Unit Price Annualized CostDemand Deposit Services

Account Maintenance 96 108 Account - -$ Interim Statement w/Checks - 1 ItemCheck Order Fees 31 19 Account - -$ Audit Confirmation Electronic 8 9 Account - -$ Deposits Credited 5,927 38 Account - -$ Electronic Credits Posted 16,633 4,344 Account - -$ Items Deposited 209,038 67,273 Item - -$ Deposit Correction 9 1 Item - -$ Items Paid not enclosed 17,078 3,991 Item - -$ Items Paid enclosed 560 5 Item - -$ Electronic Debits Posted 1,474 1,914 Item - -$ Other Misc. Debits 226 Item - -$

Zero Balance servicesZBA master account 12 12 Account - -$ ZBA Sub Account 48 36 Account - -$

Online Check deposit servicesOnline deposits credited 239 - Account - -$ Online check deposit-Monthly 12 - Account - -$ Online Deposited Items - Early 16,922 - Account - -$

Image Cash LetterICL Transmission - Per Trans 437 - Item - -$ ICL Record - Per Record 38,633 - Item - -$ ICL Deposits Credited 216 - Account - -$ ICL Transit Items 179,168 - Item - -$ ICL On-US items 23,289 - Item - -$

Return Check ServicesDeposited Items Returned 454 105 Item - -$ Return Items - Represented 84 - Item - -$ Return Items - Special Address - 89 Item

Branch/Night Deposit ServicesBranch Cash-night ATM dep - - Item - -$ Branch Cash OTC Deposit/$1000 876 - Item - -$ Branch Curr ORD/strap 6 7 Item - -$ Branch Curr ORD/Partial Strap 428 24 Item - -$ Branch Coin order/roll 659 18 Item - -$


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Cash Vault ServicesCash Vault Monthly Maint. 10+ loc 12 12 Account - -$ Cash Vault Deposits 4,977 9,494 Account - -$ Vault Deposit Error 61 10 Account - -$ Vault Currency Dep Full Strap 3,174 6 Item - -$ Vault Currency Dep Loose Bill 181,999 211,697 Item - -$ Vault Coin Deposit Rolled Coin - 54 ItemVault Automatic Change Order - 226 ItemVault Currency Order-Full Strap - 78 ItemVault Currency Order-Loose Bill - 7,527 ItemVailt Coin Dep Mix bag 400 - Item - -$ Deposit Receipt Email 6,056 5,166 Item - -$

ARP ServicesPartial Recon - Base fee 21 41 Item - -$ Partial Recon - Item Chrg 17,484 4,109 Item - -$ Full Recon - Base fee 12 - Item - -$ Full Recon - Item Chrg 308 - Item - -$ Positive Pay - Base fee 18 18 Item - -$ Positive Pay - Item Chrg 451 208 Item - -$ APR POS pay returned item 43 2 Item - -$ Dep Recon - Base fee 12 12 Item - -$ Dep Recon - Item Chrg 7,966 7,306 Item - -$ APR Auto D/T to Bank/Tran 63 76 Item - -$ APR Auto D/T to Bank/RCRD 6,316 3,450 Item - -$ APR Auto D/T to Client/Tran 22 11 Item - -$ APR Auto D/T to Client/RCRD 7,843 2,548 Item - -$ Manual Issue-Item Charge 6 Item

Image Delivery ServicesCD-Rom Premium CD 35 36 Account - -$ CD-Rom image per item 17,080 4,276 Item - -$

ACH servicesACH monthly Maintenance 36 12 Account - -$ ACH file transmissions, self 355 - Item - -$ ACH File Transmission, Vendor File 26 ItemConsumer PPD debits originated 165,345 - Item - -$ Consumer PPD credits originated 81,477 11,524 Item - -$ Corp Credits ORG CCD, CCD+CTX 2,618 - Item - -$ ACH credits org - same day prem 701 - Item - -$ ACH debits org - same day prem 75,528 - Item - -$ ACH deletions - item 20 - Item - -$ ACH deletions Batch on file 5 - Item - -$ ACH Reversals - item 10 - Item - -$ ACH exception processing 2 - Item - -$ ACH Fax Page - 102 ItemACH Return Item 571 3 Item - -$ ACH NOC item 89 - Item - -$ OTM ACH Batch Processing Fee - 76 ItemOTM ACH Corp Payments Credits Orig - 124 Item


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ACH Fraud ControlACH Fraud CNTRL monthly maint 84 72 Account - -$ AFC unaith debit report mail 8 - Account - -$ AFC Filter setup/CHG by client 2 - Account - -$

EDI servicesEDI transl Report OTM & Courier 12 24 Item - -$

Wire Transfer ServicesWire Trsf Montly Main/Acct 48 48 Item - -$ W/T out Rep (OTM PC Wire) 1 52 Item - -$ W/T out non-rep 830 156 Item - -$ Internal Wire Transfer credit 2 79 Item - -$ W/T Incoming 164 330 Item - -$ W/T Internal Non-Rep OTM wire 28 - Item - -$

Online Treasury ManagerOTM/OLC Maintance fee 12 12 Account - -$ OTM/OLC prior day serv/pr mnth 12 12 Month - -$ OTM/OLC prior day serv AC Maint 96 95 Item - -$ OTM/OLC prior day per item DTL 50,249 21,869 Item - -$ OTM/OLC Curr Day Serv/per mnth 12 12 Month - -$ OTM/OLC Curr Day per Acct Maint 96 83 Item - -$ OTM/OLC Curr Day per Item DTL 22,737 7,174 Item - -$ OTM/OLC SpecialRPT Mnth Maint 12 12 Month - -$ OTM/OLC ACH-EDI / per RPT 248 251 Item - -$ OTM/OLC CAR report/per RPT 290 - Item - -$ Stop payment / per month 12 12 Item - -$ Stop payment / per stop 59 35 Item - -$ ACH Serive/Per Month - 11 MonthACCT trn/per TRN 539 1,136 Item - -$ Wire service / Per month 12 12 Month - -$ Image item retrival/per image 1,143 603 Item - -$

Online CourierOLC wire transfer email advice 869 - Item - -$ OLC ICL Adjustment Detail RPT 187 - Item - -$

International ServicesInternational Items deposited 10 1 Item - -$


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Exhibit C


Proposal Exception Form

The bank wishes to take exception to the RFP:

Reason for Exception Page Item Estimated Costs


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Exhibit D


Volume/Cash Balances Monthly Breakdown

See attached Excel File.


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Exhibit E


Proposal for Comprehensive Banking and Treasury Management Services

Proposal Submitted By: BANK ADDRESS TELEPHONE FAX EMAIL

This proposal contains all the information requested in the Request for Proposals including the following exhibits and attachments:

Exhibit A: Minimum Qualifications and Requirements Checklist Exhibit B: Cost Proposal Exhibit C: Proposal Exception Form Exhibit E: Coversheet Attachment A: Proof of Authorization to do Business in the State of Florida or Certificate

of Authority as Qualified Public Depository Attachment B: Bank's Audited Financial Statements for the previous two years Attachment C: Disaster Recovery Plan Attachment D: Bank's Availability Schedule(s) Attachment E: Wire Transfer Agreement and any other copies of contracts and service

agreements and questionnaires Attachment F: Implementation Plan Attachment G: Excel File of Exhibit C

Signature Typed Name Title Date

Exhibit D

Bank accounts 10/1/2017 11/1/2017 12/1/2017 1/1/2018 2/1/2018 3/1/2018 4/1/2018 5/1/2018 6/1/2018 7/1/2018 8/1/2018 9/1/2018 AverageNon - ZBA Accounts

Pooled Cash Account 28,716,718.96 59,204,102.15 37,789,226.69 59,343,848.70 42,095,966.10 42,661,191.36 28,734,810.07 39,383,074.99 33,481,520.97 36,362,234.25 32,937,487.31 21,980,389.60 38,557,547.60 Imprest 14,657.10 10,762.10 9,538.62 11,048.18 13,369.64 10,964.16 12,990.71 9,062.76 8,262.92 10,994.29 9,134.55 10,048.22 10,902.77 UT Customer Deposit 112,213.51 87,080.00 74,400.46 70,769.00 74,488.71 82,191.98 108,835.83 80,701.86 101,533.03 59,836.00 94,701.11 94,701.11 86,787.72 UT Enterprise 20,310,485.33 9,034,236.39 13,885,313.00 14,338,655.74 11,759,344.92 9,692,704.92 10,879,469.28 11,357,360.16 11,415,844.28 9,816,559.46 10,459,347.46 11,126,779.66 12,006,341.72

ZBA AccountsBoard PayrollAccount PayableUT RefundsEportal

Pasco County Board of County Commissioners

As of September 30, 2018Volume/Cash Monthly Breakdown

Exhibit D

Bank accounts 10/1/2017 11/1/2017 12/1/2017 1/1/2018* 2/1/2018 3/1/2018 4/1/2018 5/1/2018 6/1/2018 7/1/2018 8/1/2018 9/1/2018** AverageNon - ZBA Accounts

Pooled Cash Account 1,879,931.28 1,413,701.98 1,376,700.31 9,281,833.31 2,004,112.11 2,044,747.17 1,310,506.46 1,396,370.95 1,511,991.85 1,514,132.26 2,544,670.17 896,313.50 2,264,584.28 SDU/CSE 10,486.70 16,158.77 15,957.59 12,806.42 16,117.62 17,013.27 18,710.91 14,244.48 13,976.53 11,007.96 14,046.17 9,653.06 14,181.62 Registry 14,957,935.02 12,925,408.49 12,085,150.22 12,159,759.60 13,058,745.11 12,835,782.42 12,888,767.03 11,124,871.73 11,879,342.75 11,245,100.66 10,945,705.72 10,115,620.08 12,185,182.40 RealAuction 2,531,033.06 2,955,953.21 2,896,996.91 3,009,918.61 3,348,552.89 3,520,995.06 3,502,137.76 3,799,141.90 3,420,521.30 3,774,928.50 3,634,002.50 2,933,268.90 3,277,287.55 Holding 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 5,204.95 Tax Deed 1.91 1.91

ZBA AccountsOperatingPayrollFlexible Spending

* Switch from Federated to FL Trust (Outlier for Average Purposes)**Opened Tax Deed Account August 2018

Office of Paula S. O'Neil, Ph.D.

Volume/Cash Monthly Breakdown As of September 30, 2018

Pasco County Clerk & Comptroller

Documents

Request for Proposal - pascoclerk.com · one (1) unbound, hard-copy original with original signature and five (5) bound, signed, hard-copied versions of the complete proposal. All