RFP 2024 Banking Services Town of Smithfield.pdf

Town of Smithfield 310 Institute Street

Smithfield, Virginia 23430

REQUEST FOR PROPOSAL – RFP # 24-003

Banking Services

Issue Date: April 3, 2024 • Due Date/Time: 12:00 Noon, Friday, May 3, 2024

Contact: Lesley King I E-mail Address: lking@smithfieldva.gov

PERIOD OF CONTRACT: Five years (beginning June 1, 2024), option to renew for five additional one year periods.

PROPOSAL SUBMISSION: Sealed proposals must be received prior to the Due Date/Time above, for furnishing the services described herein at the following address. Any proposals received after the stated time and date will be returned unopened. Delivery address: Town Manager’s Office, 911 South Church Street, Smithfield, Virginia 23430

PRE-PROPOSAL CONFERENCE: An optional pre-proposal conference will be held at 10:00 AM on Monday, April 22

2 0 2 4 located in the Town Hall, 2nd Floor Conference Room, 310 Institute Street, Smithfield, Virginia 23430. The purpose of this conference is to allow Offerors an opportunity to present questions and obtain clarification relative to any facet of this solicitation. While attendance is not mandatory, Offerors who intend to submit a proposal are encouraged to attend. Any changes resulting from this conference will be issued in a written addendum to the solicitation.

CLARIFICATION OF TERMS: If any prospective Offeror has questions about the specifications or other solicitation documents, then it is the Offeror's responsibility to contact the Contract Officer's whose name appears on the face of this solicitation, in writing, no later than Monday April 30, 2024. Oral requests for information will not be accepted. No further written inquiries will be accepted after 5:00 p.m. local time on April 30, 2024. Any revisions to the solicitation will be made only by an addendum issued by the Contact named above. Any addenda, notifications, extensions, cancellations or changes will be posted on the Town's website at www.smithfieldva.gov and the Commonwealth of Virginia's e-procurement website, www.eva.virginia.gov. No other notification is required. It is the responsibility of the prospective Offeror to obtain all current information from either the Town website or the eVA website.

The undersigned hereby offers and agrees to furnish all goods and/or services in accordance with the attached signed proposal and the mandatory requirements outlined herein, or as mutually agreed upon through subsequent negotiation.

Company Name:

Address:

Email:------------------

Telephone:

City/State/ZIP: _ Fax:

Signature: Cell:

Printed Name: Date:

Title:

Note: This public body does not discriminate against faith-based organizations in accordance with the Code of Virginia § 2.2- 4343.1 or against a Bidder or Offeror because of race, religion, color, sex, national origin, age, disability, or any other basis prohibited by state law relating to discrimination in employment.

mailto:lking@smithfieldva.gov http://www.smithfieldva.gov/ http://www.eva.virginia.gov/

Request for Proposals Banking Services

Table of Contents Date: April 2, 2024

I. Purpose:

II. Statement of Needs:

a. Requirements

b. Account Information

i. Account Structure

ii. Fees

iii. Account Descriptions

iv. Deposits

v. Checking

vi. Banking Supplies

vii. Reconciliation Services

viii. ACH Processing

ix. Wire Transfers

x. Positive Pay

xi. Customer Service

III. Investment Services:

IV. Line of Credit

V. Possible Additional Services

a. Payroll Services

b. Retail Lockbox

VI. Bank Fees

VII. Minimum Qualifications

VIII. Proposal Preparation and Submission Instructions:

IX. Evaluation and Award Criteria

X. Contract Term

XI. Pre-Proposal Conference

XII. Delivery Instructions

XIII. Timeline

Request for Proposals

Banking Services Date:

I. Purpose:

The Town of Smithfield (hereinafter referred to as “Town”) is requesting sealed proposals from qualified offerors to provide comprehensive banking services for the town.

II. Statement of Needs:

Items listed in the Statement of Needs are minimum requirements which shall be provided as part of the resulting contract. The offeror shall be able to provide all services referenced herein or assemble a team which can do so.

a. Requirements

Bank Location: Offeror must be a federally chartered bank and should have one branch located preferably within the Smithfield Town limits or Isle of Wight County. If the bank’s headquarters is not located within the Town or County, a branch bank located no farther than 20 miles from Town Hall at 310 Institute Street, Smithfield, VA 23430, must be able to offer the full range of banking services required by this RFP.

Virginia Security for Public Deposits Act: Offeror must comply with all applicable federal, state and county laws, ordinances, rules and regulations including but not limited to the Virginia Security for Public Deposits Act (Chapter 2.2-4400 of the Code of Virginia). Bank must be a qualified public depository as defined in the Virginia Security for Public Deposits Act. Okay - Laura

b. Account Information:

i. Account Structure: The Town maintains thirteen main accounts (general, highway, payroll, water, sewer, others) through which most activity flows directly. The Town also has numerous escrow fund accounts with limited activity.

ii. Fees: It is the Town’s intent to maintain a compensating balance in all accounts to support activity costs for banking services by the use of an

“Earnings Credit” (ECR). The accounts will operate on a “target balance” basis whereby the compensating balance required for banking activity charges will become a target balance. The objective is to maintain the target balance to support activity charges based on an average balance over a thirty (30) day period. Please be very clear about how you price services and consider ECR

iii. Account Descriptions: The Town maintains 16 separate accounts. Attached an account listing and schematic.

1) General Fund Account - The General Fund Account is the primary depository account for most Town deposits and is currently set up as a sweep account. This includes cash, coin, checks, Automated Clearing House (ACH) debits and credits, electronic payments via ACH, Remote Deposit Capture deposits, and state and federal grant ACHs and wires. The account will also be debited for outgoing wires, Electronic Funds Transfers (EFTs), and most returned items. Further there are approximately 5 merchant ID numbers for processing credit card transactions. An ACH deposit is made to this account daily for each merchant ID provided there is current activity. All checks deposited should be in accordance with the bank’s availability schedule. Offerors MUST supply a copy of their availability schedule with their proposal.

2) Payroll Account – The Town pays payroll from this checking account which includes checks and ACH direct deposit files processed bi-weekly. Because payroll is outsourced, debits are also generated against the account by the payroll provider to meet federal and state tax obligations. The Town currently transfers money from its general operating account into the payroll account via online banking applications. Alternatively, an automated ZBA (Zero Balance Account) with appropriate restrictions/security features is desirable.

3) Highway Account – The Town maintains an account specifically for highway maintenance. The State allocates annual road maintenance money to the Town to use for asphalting, ditching, and other necessary repairs. This money is electronically deposited into the Town’s general fund account. Consequently, deposits are made periodically from the general operating fund as needed to cover the checks that are written from this account. This account is interest bearing but is not a sweep account.

4) Water Account - The water operating account is an interest-bearing account. One deposit a day is usually made into this account by an outside party, the Hampton Roads Utility Billing System (HRUBS). They collect utility payments for the Town, and after deducting their portion, they deposit the Town’s share directly into its water operating account. Further there is 1 merchant ID number for processing credit card transactions.

Other miscellaneous deposits may be made into this account during the month.

5) Sewer Account – The sewer operating account is also set up as an interest-bearing account. There are very few deposits flowing through this account, however. HRUBS deposits all the utility collections for the Town in the Town’s water operating fund. At the end of the month, the Town must then move collections from the sewer account and other ancillary accounts to those accounts so payments are properly applied. Generally, there is very few deposits made in a month to this account.

6) Ancillary Accounts - The Town also maintains eight additional interest-bearing accounts and the deposit and check activity in these accounts are minimal.

iv. Deposits:

a. The Bank will accept all items delivered to it for deposit to the accounts of the Town in accordance with the following requirements:

i. Funds received by federal or other wire transfer shall be considered immediately available funds.

ii. Funds received through automated clearinghouse operations shall be considered immediately available funds.

iii. Federal checks, State checks, and cash delivered by 2:00 P.M.

to the bank or its agent shall be considered immediately available funds.

iv. All other items shall be credited to the County’s accounts not later than the Federal Reserve Banks schedule of.

b. The Bank shall automatically deposit for collection a second time any item returned to them for non-sufficient funds (NSF). The Bank shall notify the Town’s Deputy Treasurer of all returned checks.

c. The Bank shall credit the Town’s account with the amounts shown on deposit tickets and make adjusting entries if the tickets vary from the actual amount deposited. The Bank shall notify the Town’s Deputy Treasurer of any overage or shortage. Such notification shall include full identification to enable the Treasurer’s office to debit or credit the appropriate accounts.

d. The Bank shall provide Desktop Check Deposit service for the Town to scan and submit check deposits online.

v. Checking:

a. The Bank shall make payment on and reconcile all checks drawn on the Town’s accounts.

b. The Bank shall provide all cancelled checks monthly showing the front and reverse image of the paid check. Online access to cancelled checks shall be provided as well. Please provide a retention schedule for images.

c. The Bank shall honor all Town checks for ninety (90) days from the date of issue and then shall stale date all uncashed checks. The Town should have the ability to review stale dated checks online and choose to accept or reject these checks.

d. The Town is currently using Positive Pay services. The Offeror shall provide a description of the steps taken to ensure that the information delivered by the file transmission process from the Town to the Offeror is always secure.

e. The Successful Offeror shall include a proposal to allow the Town to accept and process e-checks in a manner acceptable to the Town. The Town may or may not choose to offer this payment option upon execution of the final contract documents. This service would be needed upon implementation of our Munis software package.

vi. Banking Supplies:

a. The Bank shall provide the following at NO cost:

i. Annual relationship reviews: fees, satisfaction, new banking services that could benefit the Town.

ii. Disposable deposit bags to the Town in such quantities as are required from time to time.

vii. Reconciliation Services:

The bank shall provide reconciliation services for all accounts specified in this proposal. Reconciliation shall include the following minimum requirements:

a. Listing of paid items (check number in ascending order within its series, total amount paid in series, amount paid per check, and date paid.).

Image of paid items (front and back).

b. Paid checks shall be available via an on-line service for review and printing by the Town as needed. Access to this imaging system should be via a web-based process and available over the life of the contract and a minimum of five (5) years after termination of the contract.

c. Full Reconciliation: The Town is not using full reconciliation for any bank accounts currently. We are interested in hearing about the bank’s capabilities and products for full reconciliation. At minimum there would be four bank accounts on full reconciliation.

d. Monthly Account Analysis: The bank MUST supply an account analysis report monthly. The minimum requirements for this report shall be:

i. Average Book Balance

ii. Average Collected Balance

iii. Transaction Volumes

iv. Transaction Prices

v. ECR

viii. ACH Processing:

a. The Offeror shall provide an ACH Bank Draft Payment option for the Town to offer its customers as an alternative method of payment. This service must be submitted through a secure electronic transmission and be compatible with Tyler Technology’s MUNIS software. We are currently in the beginning stages of our MUNIS conversion, so this option will be delayed until the TAX portion of the conversion is brought online.

b. The Town also utilizes ACH processing for Town payroll on a biweekly basis. Each Offeror shall quote any charges that will occur with this service.

c. The Offeror shall provide a description of the steps taken to ensure that the information transmitted by ACH from the Town to the Offeror is secure.

d. Offeror shall provide a description and cost, in sufficient detail, of the services that insure that only authorized ACH transactions are being posted to the Town’s bank accounts.

e. The Town utilized ACH Positive Pay, how does this work and what are the fees.

ix. Wire Transfers

e. Internet and telephone access for initiating and processing out-going wire transactions.

i. Dual controls are required regardless of method used to initiate the wire.

ii. Wires may be repetitive or non-repetitive and domestic or international.

iii. Internet access for confirmation of all wires executed, including details.

x. Positive Pay To protect the Town from fraudulent activity, we will need positive pay on all accounts.

xi. Customer Service:

The Bank’s ability and desire to provide outstanding customer service is a high priority for the town. Customer service should include, but not be limited to the following:

a. Provide two (2) officers of at least a Vice President (“officer”) level to act as the primary and backup liaison between the Town and the Bank.

These officers should be responsible for conflict resolution between the Town and the Bank. Direct contact information including, but not limited to, telephone, e-mail, and fax should be provided.

b. A customer service team that will research and provide assistance on routine transactions, including but not limited to wire transfers, debit/credit adjustments, deposits and account reconciliation processing in a timely manner. The customer service team must be knowledgeable of the Town’s account structure and respond to any inquiries by the Town within twenty-four (24) hours.

c. The officer and the key staff for each service should meet with Town staff immediately after the contract has been fully executed for a project kickoff meeting. In addition, the officer and key staff should be available for other meetings as required by the Town.

d. The successful bank shall provide training services to the Town for the operation and use of the bank’s services and related automated systems. Training, operating manuals, and on-going support are to be supplied by the Offeror for all services provided. These can be online

III. Investment Services:

The Town currently maintains approximately $3,000,000 in a sweep account and $7,500,000 in the Virginia Investment Pool administered through VML/VACO Finance. All bank accounts total approximately $22,000,000 and this does not include the sweep. As the Town builds its reserve balances, the investment portfolio is expected to grow. The custodian bank will have no responsibility for investing or reinvesting these monies except for providing an overnight investment vehicle. Required services could change if the Town expands its investment options to include U.S. Treasuries and Federal Agency Notes. Required services include the following:

1. All securities and cash held by the custodian shall be segregated from the assets of others and shall be and remain the sole property of the Town.

The custodian shall have only the bare custody thereof. The securities held by the custodian shall, unless payable to the bearer, be registered in the name of the Town, or in the bank's nominee name. Securities delivered to the custodian, except bearer securities and Certificates of Deposit, shall be in due form for transfer or already registered as provided above.

2. Create, maintain and retain all records relating to securities held in custody in Town accounts to meet the requirements and obligations under generally accepted accounting principles.

3. Provide an overnight investment vehicle for cash balances in the custody accounts.

4. Provide monthly activity statements and reports for all accounts. The statement cut off should be the last day of the month. Statements must be sent no later than the 10th of the following month.

IV. Line of Credit

The Town has an Unsecured Line of Credit, one with its current banking relationship. This is renewable annually.

1. The line of credit for One Million Dollars ($1,000,000) is used to meet short-term cash requirements for capital projects that are funded from approved Federal and private resources. Depending on the Town’s status at any point in time regarding such projects, this line of credit may not always be utilized during any given fiscal year.

V. Possible Additional Services

a. Payroll Services

i. Please describe your service capabilities

ii. Who is the back-office processor for payroll?

iii. Garnishments: Explain your process. Does your company handle paying all garnishments to the courts or appropriate departments/agencies who should receive the funds: child support, tax liens, etc. Do you provide copies for the employee’s file?

iv. Do you provide vacation and sick accruals for each paycheck? Does this include time taken and time accrued? How will it be displayed?

v. Quarterly reports: how is this handled, do you provide copies for our files?

vi. How are W-2s handled?

vii. What is provided on your reports? Example: VRS, HYB

What types of reports do you do each payroll and YTD? Are YTD reports provided:

viii. How do you submit changes to each payroll? Who fixes errors or changes?

ix. Discuss your implementation plan.

x. Who enters employee’s information?

xi. Can we create extra lines on the paychecks to describe what they are being paid? Example: reimbursement, vacation payout, sick payout, retro pay, etc.

xii. Can employees view their paychecks online? How long is this information available?

xiii. Do you offer self-onboarding for employees?

xiv. If we migrate mid year, how would the pay information for the prior processor be included in the W-2?

xv. Does your product offer mobile and web timekeeping?

Does it tell employees if they forgot to clock in/out?

Does it do geo location for clocking in/out?

b. Retail Lockbox

The Town currently does not utilize lockbox processing. The Town has one Post Office box for the Treasurer’s Office. The mail is picked up by Town staff and all payments are currently processed in the Treasurer’s office. We would like to explore lockbox processing, but we are not certain it is feasible for us at this time.

This option may be more seriously considered as we proceed with our software conversion with Tyler Technologies.

c. Other: Offerors are encouraged to provide a description of any additional services available that would enhance the Town’s banking or investment management process or be of benefit to the Town. Examples include: applications that ease the use for taxpayers and/or employees or applications that improve account management and reporting. Discussion of these initiatives should include such things as innovation, flexibility, control, communication, commitment, problem solving, customer service, cost, and relationship management.

VI. Bank Fees:

Please list all of your bank fees by service. Offerors shall indicate how interest rates and Earnings Credit Rates (ECR) are established and shall give historical figures to indicate what the rates have been. Offerors shall also provide a detailed calculation and explanation of how the ECR is applied to offset banking services fees and how the interest rate is applied to the excess cash balance.

Offeror shall describe any monitoring and notification process that may be available, if any, to assist the Town to determine whether excess cash above the target compensating balance

VII. Minimum Qualifications:

To be considered for selection, proposing banks must meet the following minimum qualifications:

1. Be a federally chartered bank.

2. Have five (5) years similar governmental banking experience for similarly sized governments and have the capacity to provide all services described herein.

3. Be sufficiently capitalized to meet the Town’s cash management needs. Be a qualified public depository for public funds in the Commonwealth of Virginia and conform to all Code of Virginia requirements. Deposits must be protected by Federal Depository Insurance and collateral held under the provision of the Virginia Security for Public Deposits Act (the “Act”) Section 2.2-4400 et. seq.

Investments must comply with the Virginia Investment of Public Funds Act Section 2.2-4500 et. seq.; comply with Uniform Commercial Code -- Bank Deposits and Collections pursuant to Virginia Code Section 8.4 and Bank Franchise Tax under Section 58.1-1200.

4. All proposals must meet, or exceed, the requirements contained herein. All Offerors shall submit a proposal demonstrating their capability for rendering the following required banking related services needed by the Town. The Town will award contracts to the best overall proposal or combination of proposals deemed to be in the best interest of the Town. The Town may also consider additional services that may be offered or may decide not to award one or more of the services.

VIII. Proposal Preparation and Submission Instructions:

A. Questions: Please email Lesley King: Lesley King lking@smithfieldva.gov

B. General Instructions:

1. RFP Response: In order to be considered for selection, offerors must submit a complete response to this RFP. One (1) original and four (4) copies of each proposal must be submitted. Offerors must clearly label the word “ORIGINAL” on the cover and must clearly label all copies with the word “COPY” on the cover. If your proposal contains proprietary information and you are invoking protection from disclosure under § 2.2-4342F of the Code of Virginia, refer to IV.A.2.f below, and submit one (1) redacted copy of the proposal clearly labeled with words “REDACTED COPY” on the cover. No other distribution of the proposal shall be made by the offeror.

2. Proposal Preparation:

a. Proposals shall be signed by an authorized representative of the offeror.

All information requested should be submitted. Failure to submit all information required may result in town requiring prompt submission of missing information and/or giving a lowered evaluation of the proposal.

Proposals which are substantially incomplete or lack key information may be rejected. Mandatory requirements are those required by law or regulation or are such that they cannot be waived and are not subject to negotiation.

b. Proposals shall be organized in the order in which the requirements are presented in the RFP. All pages of the proposal shall be numbered. The proposal should contain a table of contents which cross references the RFP requirements. Information which the offeror desires to present that does not fall within any of the requirements of the RFP should be inserted at an appropriate place or be attached at the end of the proposal and designated as additional material. Proposals that are not organized in this manner risk elimination from consideration if the evaluators are unable to find where the RFP requirements are specifically addressed.

c. Each copy of the proposal shall be bound or contained in a single volume when practical. All documentation submitted with the proposal should be contained in that single volume.

d. Ownership of all data, materials, and documentation originated and prepared for the Town pursuant to the RFP shall belong exclusively to the mailto:lking@smithfieldva.gov

Town and be subject to public inspection in accordance with the Virginia Freedom of Information Act. Trade secrets or proprietary information submitted by an offeror shall not be subject to public disclosure under the Virginia Freedom of Information Act; however, the offeror must invoke protections of § 2.2-4342F of the Code of Virginia, in writing, either before or at the time the data or other material is submitted. The written notice must specifically identify the data or materials to be protected and state the reasons why protection is necessary. The proprietary or trade secret submitted must be identified by some distinct method such as highlighting or underlining and must indicate only the specific words, figures, or paragraphs that constitute trade secret or proprietary information. The classification of an entire proposal document, line-item prices, and/or total proposal prices as proprietary or trade secrets is not acceptable and will result in rejection of proposal. If, after being given reasonable time, the offeror refuses to withdraw an entire classification designation, the proposal will be rejected.

3. Oral Presentations: Offerors who submit a proposal in response to this RFP may be required to give an oral presentation of their proposal. This provides an opportunity for the offeror to clarify or elaborate on the proposal. This is a fact finding and explanation session only and does not include negotiation.

Oral presentations are an option of the Town and may or may not be conducted.

4. Specific Proposal Instructions: Proposals should be as thorough and detailed as possible, but concise, so that the Town may properly evaluate your capabilities to provide the required services. Offerors are required to submit the following items as a complete proposal.

a. Completed and signed Signature Sheet which includes addenda acknowledgements (if any) and other signature requirements, State Corporation Commission Identification Sheet Contractor has ten (10) days from notice of award to provide agreement(s), insurance documentation and W-9 form.

b. Cost of services: Cost of services will be considered based on each service provided as well as the cost of services in total. Any banking services and documents not detailed on the proposal pricing forms shall be provided to the Town at no cost. Such services include the availability of bank staff to consult with Town staff concerning bank service performance. Offerors shall list any other free goods and services which may be available to the Town.

c. Narrative statements to include:

1. Quality controls in place to ensure high-quality service, the understanding of the Town’s needs, and any special processes which the bank feels may increase its ability to perform the contract.

2. Demonstrated ability of the bank to comprehensively meet all services detailed in the RFP. Proven banking service capabilities, including ability to expand capabilities and provide additional services not currently being requested.

Understanding of services and tasks as depicted in proposal.

3. Comparable experience in governmental banking activities.

Provide experience, technical capabilities, professional competence and qualifications of the proposed personnel assigned to provide the services.

4. Technology offered as perceived as beneficial to the Town, as well as the overall technology-based services being offered.

5. Bank convenience to include location, customer service delivery, and availability of personnel for service and consultation.

5. References: Provide at least three references (public agency references, if possible), including client name, contact person, address, phone number, services provided, and the length of time your bank has worked for the entity. Since the Town is a Virginia municipality, references from other local governments would be viewed as more desirable than from commercial cash management clients.

IX. Evaluation and Award:

A. Evaluation Criteria: Proposals shall be evaluated by the Town using the following criteria:

Criteria Weight Demonstrated ability of the bank to comprehensively meet all services detailed in the RFP. Proven banking service capabilities, including the ability to expand capabilities and tasks as described in the proposal.

Experience, technical capabilities, professional competence and qualifications of proposed personnel assigned to provide the services. Comparable experience in governmental banking activities.

Quality controls in place to ensure high-quality service and demonstrated understanding of the Town’s needs.

Cost of Total Services 20 RFP contains all submittal requirements. 5 Total 100

B. Award of Contract: The town will award the contract on the basis of competitive negotiation with the most qualified contractors consistent with the Virginia Public Procurement Act Section 2.2-4300. Contract awards may be made to more than one offeror if in its sole discretion is deemed to be in the best interest of the Town.

Selection may be made of two or more offerors deemed to be fully qualified and best suited among those submitting proposals on the basis of the evaluation factors included in the Request for Proposals, including price, if so stated.

Negotiations shall be conducted with offerors so selected. Price shall be considered but need not be the sole determining factor. After negotiations have been conducted with each offeror so selected, the town shall select which offeror which, in its opinion, has made the best proposal, and shall award the contract to that offeror.

The Town of Smithfield may cancel the Request for Proposal or reject proposals at any time prior to an award, and it is not required to furnish a statement of reasons why a particular proposal was not deemed to be the most advantageous (Code of Virginia 2.2-4395D). Should the Town determine in writing and in its sole discretion that only one offeror is fully qualified, or that one offeror is clearly more highly qualified than the others under consideration, a contract may be negotiated and awarded to that offeror. The award document will be a contract incorporating by reference all the requirements, terms and conditions of the solicitation and the contractor’s proposal as negotiated.

The Town reserves the right to waive minor non-substantive errors in the proposal, to reject any/or all proposals, to award any contract in whole or in part and award the proposal considered to be in the best interest of the Town. The Town also reserves the right to negotiate with the lowest responsive, responsible Offeror should proposal exceed available funds.

X. Contract Term:

Contract term will be for five (5) years and may be renewed by the Town upon written agreement by both parties for five (5) additional one year periods and at a reasonable time (approximately 60 days) prior to the expiration.

Pricing for renewal years one and two are expected to remain firm. Pricing for additional renewal years may be negotiated.

NOTE: The Town operates on a fiscal year from July 1 through June 30. Purchase orders are good through the end of a current fiscal year. New purchase order(s) are issued at the beginning of each fiscal year to cover the remainder of the current contract period and subsequent renewal periods.

XI. Pre-Proposal Conference:

A non-mandatory preproposal conference will be held on Monday, April 22nd at 10:00am at the Treasurer’s office located at Town Hall 310 Institute Street, Smithfield, Virginia. The purpose of this conference is to allow potential offerors an opportunity to present questions and obtain clarification relative to any facet of this solicitation.

While attendance at this conference will not be a prerequisite to submitting a proposal, offerors who intend to submit a proposal are encouraged to attend. Bring a copy of this solicitation with you. Any changes resulting from this conference will be issued in a written addendum to the solicitation.

XII. Delivery Instructions:

Proposals shall be in a sealed envelope marked Banking Services RFP # 24-003 and delivered no later than 12:00 noon May 3rd, 2024.

Lesley King Town Clerk 911 South Church Street Smithfield, VA 23430

Any proposals received after the specified time and date will not be considered. All questions shall be directed to Lesley King via email lking@smithfield.va.gov Deadline for questions will be 5:00pm Monday, April 30th, 2024.

XIII. Schedule

Schedule Start Date Town Issues RFP 4/3/2024 Pre Proposal Conference 4/22/2024 RFP Due from Banks 5/3/2024 Town Reviews RFP 5/10/2024 5/17/2024 Decision 5/24/2024