Addendum01.docx
DOCX document 317 KB Posted
- Solicitation number
- RFA 2024-020-AB-001
- Issued by
- Texas
About this file
This document is an Addendum (#01) for a Request for Applications (RFA #2024-020-AB-001) issued by the City of Hutto, Texas, seeking Primary Bank and Depository Services. The RFA was released on April 10, 2024, with responses due on May 3, 2024, at 2:00 PM CST. The initial contract period will span from October 1, 2024, to September 30, 2026, with potential extensions for three additional one-year periods under the same terms and conditions.
The addendum provides key operational details about the City's banking requirements, including current technological infrastructure and transaction volumes. The City currently owns two remote deposit scanners (Cannon Image Formula and Panini Vision X), processes ACH payments 1-2 times per week, requires four total bank accounts, and needs an eLockbox service. Transaction limits include weekly ACH payments ranging from $500,000-$2 million, maximum ACH collections of $40,000 for utility bills, and annual wire transfers up to $7 million for principal and interest payments. The City seeks a financial institution with a physical location within its municipal boundaries to provide these depository services.
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Other files
| File | Type | Posted |
|---|---|---|
| Hutto - Depository RFA 2024-020-AB-001 - PROTECTED.docx | DOCX document | |
| Hutto RFA Fee Schedule.xlsx | XLSX spreadsheet |
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Text version
Mayor Doug Gaul
Mayor Pro-tem Tom Hines
Council Members Scott Rose, Place 1 Tom Hines, Place 2 Nate Killough, Place 3 Vacant, Place 4 Patti Turner, Place 5May 2, 2019
Mayor of Hutto, 2069 -
Terri Grimm, Place 6
City Manager Odis Jones
RFA # 2024-020-AB-001
Subject: Primary Bank and Depository Services Due: May 3, 2024 at 2:00 PM CST
Addendum #01 to All Respondents
Date: 04/10/2024
To All Potential Respondents, This addendum is issued to address changes and or questions received regarding the above-referenced RFP, and is hereby made a part of the RFP documents. Respondent shall take this addendum into consideration when preparing and submitting its Proposal.
***Please note the City will not require this document to be signed in order for a response to be considered***
Remainder of Page Intentionally Left Blank. Continued Pages Follow.
CHANGE(S): N/A
QUESTIONS AND ANSWERS:
1. Along with our response, we would like to submit 2 pro formas, illustrating scenarios with interest paid on balances compared with earnings credits for fee offset. Will the City accept 2 pro formas? Yes
2. Does the City currently own Remote Deposit Scanners? Yes, 2 scanners.
a. If so, please provide the make & model. Cannon Image Formula, Panini Vision X.
b. If not, how many are needed? Currently the City uses 2 scanners.
3. What is the daily ACH payment file limit needs? Our ACH payments max out at around 3 million dollars, and occur once per week. However, an AVERAGE run is 500k-2 million. This would likely need to be increased in the future as the City continues to grow.
4. Does the City process ACH daily, weekly, monthly, etc.? 1-2 times per week. Once a week for accounts payable, and once every other week for payroll.
5. Does the City currently utilize ACH Collections (debits) services? Yes- maximum would be about $40,000 for utility bill. However, as rates/customers increase, the maximum would need to shift as well.
a. If so, what tis the maximum daily ACH Collection file upload amount? $40,000 currently.
6. What is the daily wire transfer limit needed? I would think that $7 million is sufficient, and would occur annually when principal + interest payments are due.
7. Does the city require four accounts in total? Yes
8. Would eLockbox be a new service for the city? Yes image1.png image2.jpg
File details come from the government source that posted it. Updated .