Q&A Document 1.pdf
PDF 7 KB Posted
- Attached to
- Banking Management Services
- Solicitation number
- RFP2025-003
- Issued by
- Florida
About this file
This document is a Questions and Answers (Q&A) file for the City of Delray Beach's Request for Proposal (RFP2025-003) for Banking Management Services. The Q&A document covers various aspects of the city's banking needs, including current practices and requirements for potential bidders. Key details include the city's use of 6 remote deposit scanners across different departments (Utility Billing, Police, Parks & Rec, Business Tax), daily armored carrier pickups handled by Mid Florida Armored Services, and current banking operations using an online banking portal with bi-weekly check runs and approximately 25 file transmissions monthly.
The city currently uses Tyler New World ERP and plans to upgrade to Tyler Munis in the next 2-3 years. Financial details reveal that PNC Alt investment was earning 3.15% in October 2024, and the city has not been overdrawn in the past 12 months. The city uses two lockboxes for EMS and Utility Billing at Synovus, processes around $4,000 in monthly cash vault deposits, and has modest supply needs of approximately 3,000 bank bags and 100 deposit books annually. Notably, the city does not currently pay any deposit administration, assessment, or FDIC fees based on account balances.
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Questions & Answers - 1
Solicitation RFP2025-003 - Banking Management Services
Buying Organization City of Delray Beach
No Question/Answer Question Date
Q2 Question: Account Analysis Statements
Please provide copies of City of Delray Beach’s three (3) most recent bank account analysis (billing) statements.
Answer: See attached Exhibit A
10/31/2024
Q3 Question: Deposit Administration Fee
Does the City currently pay any "deposit administration fee" or "deposit assessment fee" or am "FDIC
Assessment fee" based solely on the balances held at your current bank? If so, what is the amount of that fee charged in basis points or as an annual % of balance levels?
Answer: No, the City doesn't pay any "deposit administration fee" or "deposit assessment fee" or am
"FDIC Assessment fee" based solely on the balances held at your current bank
11/13/2024
Q4 Question: Financial Statements
Will the City accept links to financial statements?
Answer: Yes, accept links to financial statements
11/18/2024
Q5 Question: Armored Courier
Who is your armored courier?
Answer: Mid Florida Armored Services is our armored courier
11/18/2024
Q6 Question: 3.2 Banking Services- Lockbox Services
In "3.2 Banking Services - B. Lockbox Services", it is mentioned that the City utilizes two lockboxes at different financial institutions. Which institutions currently service these lockboxes? Could the City provide the average monthly activity for each of these lockboxes?
Answer: Advanced Data Processing EMS Billing- Synovus Lockbox and Utility Billing- Synovus
Lockbox
11/18/2024
Q7 Question: Cash Vault Deposits
What is the average monthly dollar ($) amount that the City deposits via cash vault?
Answer: The City sends around $4000 per month on average; however, there are times when the deposit is larger due to the addition of checks. These incidents only occur occasionally.
11/18/2024
No Question/Answer Question Date
Q8 Question: RFP No. 2025-003
1.How many locations do you have strapped currency and rolled coins sent to?
2.What is your anticipated volume/need at each of these locations?
3.How often does your armored car go to your facility?
4.Does your armored car go to each facility or just the main City site?
5.Please list all banking supplies you need and volume (not limited to): tamper evident disposable style deposit bags, deposit slips, deposit stamps, coin wrappers, envelopes, etc. ? For deposit slips, are single, duplicate, or triplicate needed?
6.How much coin (change) do you estimate you need on a monthly basis?
7.Can we get your most recent 3 months of bank analysis statements?
8.This is optional: Are the lockbox services in play here?
Answer: 1. We currently go to the bank to pick up change, but we did order approximately once a week previously.
2. $150-$300 per week
3. We have a daily pick up
4. The pickup is at the Cashier office.
5. Disposable tamper evident Deposit bags – 35/month (currently provided by our armored carrier), Duplicate deposit slips – 35/month,
6. $400 of change see question 2 for total.
7. Refer to question 2- Exhibit A
8. No
11/18/2024
Q11 Question: Section 3.1 - ERP
What is your ERP? Do you have plans to upgrade the ERP during this contract?
Answer: ERP is currently Tyler New World
We have plans to upgrade to Tyler Munis in the next 2-3 years.
11/22/2024
Q12 Question: Section 3.2 - Account Analysis Statements
Please provide 3 months of account analysis statements for all DDA accounts, as well as s summary roll-up of balances and fees.
Answer: Refer to question 2- Exhibit A
11/22/2024
Q13 Question: Section 3.2B - Lock Box Services
Are Lock Box services a part of this solicitation? If so please provide:
A.Volumes for each box for each service code, e.g., Wholesale payments processed; scannable payments processed; data keying; lockbox checks deposited; eLockbox checks deposited; etc.
B.Desired location of lockbox site
C.Specific lockbox processing instructions
D.Additional information that would be helpful in providing accurate pricing for lockbox services
Answer: No lock box services are not part of this solicitation
11/22/2024
No Question/Answer Question Date
Q14 Question: Section 3.2C - Remote Deposit Structure
How many Remote Deposit scanners are in use and in what departments?
Answer: We are currently using 6 scanners.
Utility Billing – 1
Police – 1
Parks & Rec - 1
Business Tax – 3
11/22/2024
Q15 Question: Section 3.2E - Armored Carrier
Who is your armored carrier? How many deliveries do you make each month?
Answer: Armored carrier- Refer to Question 5
Deliveries- Refer to question 8- there is a daily pick up
11/22/2024
Q16 Question: Section 3.2F - ACH Transactions, Direct Deposit, and Wire Transfers
Do you use the online banking portal for all file uploads and downloads? Do you use direct file transmission for any of your information exchange? Have you considered API’s?
Answer: Online banking portal- Yes
Direct file transmission- No
Considered API's- No
11/22/2024
Q17 Question: Section 3.2K - Earnings on Deposits
What are the current interest and earnings credit rate (October 2024) that you are earning on your balances?
Answer: PNC Alt investment was 3.15% in October.
11/22/2024
Q18 Question: Section 3.2L - Stop Payments
How many check runs and files are transmitted per month?
Answer: Bi-weekly check runs, and approximately 25 files monthly.
11/22/2024
Q19 Question: Section 3.2N - Overdraft
How often in the past 12 months have your accounts been overdrawn?
Answer: We have not been overdrawn in the past 12 months.
11/22/2024
Q20 Question: Section 3.2O - Supplies
Can the City please provide the total supplies usage over the past 12 months including deposit slip, deposit bags, stamps, etc?
Answer: Approximately, 3,000 bank bags, 100 deposit books for various departments.
11/22/2024
Questions & Answers - 1
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