RFP 2025-003 Banking Management Services.pdf

City of Delray Beach RFP 2025-003 Banking Management Services

The City of Delray Beach

100 NW 1st Avenue Delray Beach, FL 33444

PURCHASING AND CONTRACT ADMINISTRATION DIVISION

REQUEST FOR PROPOSALS

RFP NO.: 2025-003

TITLE: BANKING MANAGEMENT SERVICES

DUE DATE AND TIME: December 11, 2024, 2:00 P.M., (EASTERN STANDARD TIME)

INSTRUCTIONS

Proposals must be received on or before the due date and time (local time). All Proposals will be publicly opened at City Hall, unless otherwise specified.

The City will only accept electronic submittals for this Request for Proposals (RFP). Proposals will be accepted through a secure mailbox at Bidnet Direct (https://www.bidnetdirect.com/florida/cityofdelraybeach) until the Due Date and Time indicated in this RFP. Bidnet Direct does not accept electronic Bids after the Due Date and Time. It is the sole responsibility of the Proposer to ensure its electronic RFP submission is complete prior to the solicitation Due Date and Time. Electronic submission of Proposals will require the uploading of forms and/or attachments as designated in this RFP. Electronic submission must include a signed original of the Solicitation Summary form. The submission of forms and attachments containing embedded documents or proprietary file extensions is prohibited.

If the Solicitation Summary form is not included, the City may deem the Proposal non-responsive.

Proposals must contain all information required to be included in the submittal, as described in this Solicitation.

BROADCAST

The City of Delray Beach utilizes electronic online services for notification and distribution of its solicitation documents. The City’s solicitation information can be obtained from: (a) Bidnet Direct – https://www.bidnetdirect.com/florida/cityofdelraybeach; (b) Purchasing webpage on the City of Delray Beach https://www.delraybeachfl.gov/government/city-departments/purchasing/current-bids-solicitations; (c) Request via email burzynskij@mydelraybeach.com

Proposers who obtain solicitations from sources other than those named above are cautioned that the Request for Proposals package may be incomplete. The City will not evaluate incomplete Proposal packages. Bidnet Direct is an independent entity and is not an agent or representative of the City.

Any technical issues must be submitted to Bidnet Direct by contacting (800) 835-4603 (toll free) or http://pbgvwss/PBG%20Graphics/Graphics%20and%20Logos/PBG%20logo-Landscape.tif https://www.bidnetdirect.com/florida/cityofdelraybeach https://www.bidnetdirect.com/florida/cityofdelraybeach https://www.delraybeachfl.gov/government/city-departments/purchasing/current-bids-solicitations https://www.delraybeachfl.gov/government/city-departments/purchasing/current-bids-solicitations mailto:burzynskij@mydelraybeach.com support@bidnet.com. The City cannot assist with technical issues regarding submittals and will in no way be responsible for delays caused by any technical or other issue.

Communications to any independent entities does not constitute communications to the City. The City is not responsible for errors and omissions occurring in the transmission or downloading of any documents, addenda, plans, or specifications from these websites. In the event of any discrepancy between information on these websites and the Solicitation documents, the terms and conditions of the documents will prevail.

CONTACT

Any questions regarding the specifications and Solicitation process must be submitted through the “Question” feature on https://www.bidnetdirect.com/florida/cityofdelraybeach. Requests for clarification and additional information must be received prior to the Deadline for Submission of Questions on November 29, 2024, at 5:00p.m. (EASTERN STANDARD TIME).

mailto:support@bidnet.com https://www.bidnetdirect.com/florida/cityofdelraybeach

The City of Delray Beach

100 NW 1st Avenue Delray Beach, FL 33444

LEGAL ADVERTISEMENT

REQUEST FOR PROPOSALS NO. 2025-003

Banking Management Services

The City of Delray Beach, Florida (“City”) is seeking proposals from “Qualified Public Depositories” pursuant to Chapter 280, Florida Statutes (otherwise known as the Florida Public Deposits Act) to provide Banking Management Services, in accordance with the terms, conditions, and specifications contained in this Request for Proposals (RFP).

Request for Proposals documents are available beginning October 29, 2024, on the Purchasing and Contract Administration Division webpage of the City of Delray Beach website at https://www.delraybeachfl.gov/government/city-departments/purchasing/current-bids-solicitations, Bidnet Direct website – https://www.bidnetdirect.com/florida/cityofdelraybeach; by contacting the City Purchasing and Contract Administration Division at burzynskij@mydelraybeach.com or by phone at 561- 243-7153.

Proposals will be accepted through a secure mailbox at Bidnet Direct (https://www.bidnetdirect.com/florida/cityofdelraybeach) until the Deadline for Submission as indicated in this RFP. The Due Date and Time for submission of proposals is December 11, 2024, at 2:00 p.m. (Eastern Standard Time). Late Proposals will not be accepted. The City will only accept electronic Proposals for this RFP.

The City will conduct a non-mandatory Virtual Pre-Proposal Conference on November 7, 2024, 9:30- 10:30 am online via Microsoft Team meeting, link is provided below:

Join the meeting now Meeting ID: 213 865 264 879 Passcode: ZqnU7u Phone Conference Dial in Number: +1 352-448-9762,,124758816# Phone conference ID: 124 758 816#

It is the responsibility of the Proposer (Respondent) to ensure all pages are included in the submission.

All Proposers are advised to closely examine the solicitation package. Any questions regarding the completeness or substance of the solicitation package or scope of services must be submitted in writing via Bidnet Direct.

The City of Delray Beach is exempt from Federal and State Taxes for tangible personal property tax.

http://pbgvwss/PBG%20Graphics/Graphics%20and%20Logos/PBG%20logo-Landscape.tif https://www.delraybeachfl.gov/government/city-departments/purchasing/current-bids-solicitations https://www.bidnetdirect.com/florida/cityofdelraybeach mailto:burzynskij@mydelraybeach.com https://www.bidnetdirect.com/florida/cityofdelraybeach https://teams.microsoft.com/l/meetup-join/19%3ameeting_NjFhNjA0MWMtNGUzMi00Y2MyLWE1NmEtNDc0MmI0NmVkMzQ2%40thread.v2/0?context=%7b%22Tid%22%3a%226a4c7237-ddd7-4410-9712-381bd7d57c63%22%2c%22Oid%22%3a%2234ed3166-c992-4e5f-afbc-f0386582cdc9%22%7d tel:+13524489762,,124758816

The City of Delray Beach reserves the right to accept or reject any or all Proposals, in whole or in part, with or without cause, to waive any irregularities and/or technicalities, and to award the contract on such terms as it deems will best serve the interests of the City.

CITY OF DELRAY BEACH

SECTION 1

PROJECT OVERVIEW

1.1 The City of Delray Beach, Florida, is soliciting Proposals from qualified Proposers for Banking

Management Services in accordance with the terms, conditions and specifications contained in this Request for Proposals (RFP).

1.2 TERM OF CONTRACT:

The Contract shall commence upon the date of the duly executed Agreement for a term of five

(5) years with the option, if exercised by the City, of two (2) additional one-year renewals.

1.3 METHOD OF AWARD:

The Method of Award for this solicitation will be to the Proposer with the highest ranking or scores, with whom the City is able to negotiate an acceptable Agreement. The City will enter negotiations with the firm receiving the highest-ranking proposal score. Should negotiations fail then the City will enter into negotiations with the next highest-ranking firm.

1.4 The City intends to contract a single firm for the services listed in this procurement.

1.5 The anticipated schedule for this solicitation is as follows:

ITEM

EVENT

DATE/TIME

a. Issue RFP October 29, 2024

b. Institute Cone of Silence October 29, 2024

c. Non-Mandatory Pre-Proposal Conference November 7, 2024

d. Deadline for Delivery of Questions November 29, 2024 e.

Due Date and Time (for delivery of Proposals) December 11, 2024, by 2:00 p.m., EST

f. Technical Evaluations TBD

g. Oral Presentations/Interviews (if conducted) TBD

h. Final Evaluations TBD

1.6 MEETING LOCATIONS

• City Hall Conference Room - located at 100 N.W. 1st Avenue, first floor, Delray Beach, FL.

• Swinton Operations Center- Conference Room and Training Rooms - located at 434 South Swinton Avenue, Delray Beach, FL.

END OF SECTION 1

SECTION 2

SPECIAL TERMS AND CONDITIONS

2.1 PURPOSE

The purpose of this Request for Proposals (“RFP”) is to solicit Proposals from qualified firm(s) for Banking Management Services for the City of Delray Beach.

The City expects each Proposer(s) to clearly outline its best and most comprehensive resources in its response, because all services and responsibilities identified in this Solicitation will be awarded to the Successful Proposer.

2.2 ELIGIBILITY

To be eligible to respond to this Request for Proposal and be considered for award, the Proposer must demonstrate to the satisfaction of the City that it or the principals assigned to the engagement has successfully provided services, similar in scope and complexity, to a municipality, quasi-governmental organization, or a private organization.

2.3 RECORDS, ACCOUNTS, AND STATEMENTS

The Successful Proposer shall keep on its premises, or such other place approved by the City, current, true, accurate, and complete records and accounts of all services provided to the City and shall give the City or City’s representative access during reasonable business hours and upon three (3) business days’ notice to examine and audit such records and accounts. Such records shall be maintained at such standards to allow a certified auditor the ability to properly examine the records in order to certify a statement of the Successful Proposer’s business with the City.

2.4 GENERAL STANDARDS

The Successful Proposer shall at all times comply with all rules, regulations, and ordinances of the City and other governmental agencies having jurisdiction. The Successful Proposer shall further take all precautions and extreme care to conduct its activities in a safe, professional, and prudent manner with respect to its agents, employees, members, visitors, and participants.

2.5 DEFAULT

a. In the event the Successful Proposer defaults in the performance of the contract, the

City shall have the following options:

i. The City Manager will give the Successful Proposer thirty (30) days’ written notice of default. If the problem is not resolved within thirty (30) days, the City may immediately terminate the contract upon providing written notice of the Proposer’s failure to timely cure the default and obtain the services elsewhere.

ii. The City may recover at law any and all claims that may be due to the City from the Successful Proposer.

iii. The City may perform such work as it deems necessary to cure the default or subsequent default and charge the Successful Proposer for the full cost of labor and materials expended, plus thirty percent (30%) of the cost for administrative overhead.

b. The acceptance of all or part of monies due for any period after a default shall not be deemed as a waiver of any of these options, or a waiver of the default or subsequent default of the same or any other term, covenant, and condition.

c. The Successful Proposer agrees that the City shall not be responsible or have any liability whatsoever for any alleged damages, claim of lost profits, or otherwise in the event the City declares the Successful Proposer in default hereunder.

2.6 INSURANCE

The Successful Proposer shall not commence any performance pursuant to the terms of this RFP until certification or proof of insurance has been received and approved by the City’s Risk Coordinator or designee.

The required insurance coverage is to be issued by an insurance company authorized, licensed, and registered to do business in the State of Florida, with the minimum rating of A- VIII or better, in accordance with the latest edition of A.M. Best’s Insurance Guide. This insurance shall be documented in certificates of insurance which provides that the City of Delray Beach shall be notified at least thirty (30) days in advance of cancellation, non-renewal, or adverse change.

The receipt of certificates or other documentation of insurance or policies or copies of policies by the City or by any of its representatives, which indicate less coverage than is required, does not constitute a waiver of the Successful Proposer’s obligation to fulfill the insurance requirements herein. Deductibles must be acceptable to the City of Delray Beach.

The Successful Proposer shall provide insurance coverage as follows:

a. WORKERS COMPENSATION AND EMPLOYER’S LIABILITY – Workers Compensation

Insurance to apply for all employees in compliance with the “Workers Compensation Law” of the State of Florida and all applicable Federal laws. The City reserves the right not to accept exemptions to the Workers Compensation requirements of this solicitation.

Employer’s Liability Insurance with a limit of not less than One-Hundred Thousand Dollars ($100,000) for each accident, One-Hundred Thousand Dollars ($100,000) for each disease, and Five-Hundred Thousand Dollars ($500,000) for aggregate disease.

b. COMPREHENSIVE GENERAL LIABILITY Comprehensive General Liability Insurance with minimum limits of One Million Dollars ($1,000,000.00); and include Products/Completion Liability of One Million Dollars ($1,000,000). Such certificate shall list the City as additional insured.

NOTE: If Comprehensive General Liability limits are less than One Million Dollars ($1,000,000.00), the sum of Comprehensive General Liability limits and Excess Liability limits must equal no less than One Million Dollars ($1,000,000.00).

c. AUTOMOBILE LIABILITY Automobile Liability Insurance to include owned, non-owned, and hired, with minimum limits of One Million Dollars ($1,000,000.00) each occurrence.

d. PROFESSIONAL LIABILITY Professional Liability Insurance with limits of not less than One Million Dollars ($1,000,000) annual aggregate.

e. PRODUCTS/COMPLETED PRODUCTS OPERATIONS

Products/completed products operations with limits of not less than Two Million Dollars ($2,000,000) annual aggregate.

f. DATA BREACH AND PRIVACY/CYBER LIABILITY INSURANCE – Including coverage for failure to protect confidential information and failure of the security of the Proposer’s computer systems or the City’s systems due to the actions of the Proposer which results in unauthorized access to City data. The limit applicable to this policy shall be no less than One Million Dollars ($1,000,000) per occurrence and must apply to incidents related to the Cyber Theft of the City’s property.

The selected Proposer must submit, no later than ten (10) days after award and prior to commencement of any work, a Certificate of Insurance naming the City of Delray Beach as an additional insured. New certificates of insurance are to be provided to the City upon expiration.

2.7 PERFORMANCE BOND/LETTER OF CREDIT

Intentionally Omitted

2.8 CERTIFICATIONS/LICENSES

Any Proposer who submits an offer in response to this Solicitation shall, at the time of such offer, hold all the required licenses, permits, and certifications issued by the applicable State, County or City agency/department qualifying the Proposer to perform the services described in this Solicitation.

The City may at its option, and in its best interest, allow the Proposer to supply any missing information on certification and licensing during the Proposal Evaluation period.

2.9 BUY AMERICAN ACT

As required by the Buy American provision, all products must be of domestic organic as required by 41 U.S.C. Ch. 83.

Exceptions to the Buy American provision should be used as a last resort; however, an alternative or exception may be approved upon request. To be considered for the alternative or exception, the request must be submitted in writing to a designated official. The request must include the following:

a. Alternative substitute(s) that are domestic and meet the requited specifications:

a. Availability of the domestic alternative substitute(s) in relation to the quantity ordered.

b. Reason for exception: limited/lack of availability or price (include price):

a. Price of domestic product; and

b. Price of the non-domestic product that meets the required specification of the domestic product.

The contractor agrees that, to the greatest extent applicable, all equipment and products being proposed shall be American made.

2.10 METHOD OF PAYMENT: MONTHLY INVOICES

The Successful Proposer shall submit an invoice to the City, each month, after the services have been performed and have been received and accepted by the City. The amount charged shall not be in excess of the rates and fees agreed to in the Agreement.

The date of the invoices shall not exceed thirty (30) calendar days from the performance of the work. Under no circumstances shall the invoice be submitted to the City in advance of the performance of the work.

The invoice shall contain the following basic information: the awarded Proposer’s name and address, invoice number, date of invoice, description of the service performed, the contract number, purchase order number, and any discounts.

The City prides itself on paying its vendors promptly and efficiently, and as such requires that vendors accept payment via wire transfer, ACH (direct deposit), or an appropriate electronic payment method. The City is averse to issuing paper checks and seeks to discontinue this practice. All payments shall be made in accordance with the Florida Prompt Payment Act, Section 218.74, Florida Statutes, upon presentation of a proper invoice by the awarded Proposer.

2.11 SUBCONTRACTING IS NOT ALLOWED

The City will not allow any subcontracting of the work to be performed under this Contract. The Successful Proposer must perform the work with its own staff. During the performance of the Contract, the City may occasionally allow the Successful Proposer to substitute some of its staff to account for unavailable individuals, but only with the explicit written permission of the City.

2.12 OTHER FORMS OR DOCUMENTS

If the City is required by the Successful Proposer to complete and execute any other forms or documents in relation to this Solicitation, the terms, conditions, and requirements in this Solicitation shall take precedence to any and all conflicting or modifying terms, conditions or requirements of the Successful Proposer’s forms or documents.

2.13 MODIFICATION OF SERVICES

a. The City reserves the right to delete or modify any portion of the contracted services at any time without cause, and if such right is exercised by the City, the rates and fees shall be reduced at the same ratio as the estimated costs of the services deleted relates to the estimated costs of the service originally contracted. If service has already been provided on the portion of the work to be deleted, the Successful Proposer will be paid for the deleted portion based on the estimated percentage of the completion of such portion.

b. If the Successful Proposer and the City agree on modifications or revisions to the service elements, after the City has approved performance of a particular task or project, and a budget has been established for that task or project, the Successful Proposer shall submit a revised budget to the City for approval prior to proceeding with the task or project.

END OF SECTION 2

SECTION 3

SCOPE OF SERVICES

3.1 GENERAL INFORMATION AND BACKGROUND

This Request for Proposals (RFP) covers banking services with safekeeping services as a desired option.

This RFP does not include any investment management services. Any investment services would be covered under a different RFP or through investment bidding procedures as part of the investment program.

The City encourages all eligible and qualified bank representatives to examine this RFP carefully.

Qualified banks, as defined in Section 3.5 are requested to submit proposals to provide banking management services. The City expects the selected Proposer(s) to be a leader and an innovator in the development and execution of financial products and services and expects these services to be of the highest quality.

The Proposer will have and maintain sufficient staff to meet these requirements continuously without interruption of service. Severe or repeated breakdown of service, for this reason, shall be cause for termination of the Contract.

The City is very strict in its requirements for timely and accurate reporting of bank account transaction data. Daily debit and credit advice from the bank are used as primary source documents for daily posting to the City's general ledger. Failure to comply with such requirements causes significant problems to the accounting program reports and such failure will be heavily considered when the evaluation of banking management services is performed.

The City currently utilizes a web-based treasury management system to receive daily balances and detailed transactions for its main accounts.

The City desires to continue utilizing this type of treasury management system to receive daily account information.

The scope of services is outlined below. All interested Proposers will have the ability to submit questions and attend a non-mandatory pre-proposal conference prior to deciding whether to submit a proposal.

Section 1.5 provides the deadline for submitting questions and the anticipated date for the non-mandatory pre-proposal conference.

3.2 Banking Services

Below provides an overview of the City’s treasury and cash management products and services.

Appendix A is an analysis of our account services with representative transaction volumes. Appendix A should be completed with pricing for these services.

A. Accounts Structure The City currently maintains 11 accounts using a combination of concentration, zero-balance, and disbursement accounts. The current account structure is as follows: one master concentration account and nine (9) zero balance sub-accounts for payroll, accounts payable, funding (receipts), miscellaneous transfers, tennis, Municipal golf course, Lakeview golf course, parking, and Emergency Management Services (EMS), as well as one (1) stand-alone account for business insurance Third-party (TPA). The City reserves the right to open additional accounts during the contract period at the price proposed in this proposal.

B. Lock Box Services Currently, the City utilizes two Lockbox accounts held at a separate financial institution. The City’s current retail lock box is used to collect payments for the City’s water and sewer services using the lockbox services for a third party. The funds are collected in the separate institution accounts and wire transferred to the Main Operating Account. The second account is a wholesale lockbox account used to collect EMS payments. A third-party administrator receives the information from this lockbox and payment is transferred to the City.

C. Remote Deposit Structure The City currently utilizes Remote Deposit Capture (RDC) to process the majority of checks items presented for deposit. The City intends to continue using RDC for check processing. Please address the fees for this service and liability for illegible images.

D. Deposit Tracking The City currently utilizes a deposit tracking service on its depository sub-accounts to facilitate the reconciliation of account balances. This service involves special encoding on deposit slips for each City facility responsible for depositing funds. Statements are to be prepared by the Proposer reflecting the locations by the encoding of the deposits which flow into the depository accounts. Please include a description of the Proposer’s system used to accommodate the use of ACH payment receipts.

E. Coin and Currency and On-Site Payments Cashier offices in the City have standing orders for daily cash/change requirements. Rolled coins and strapped currency are sent to each location. Proposers must indicate the charge per roll and strap for supplying coins and currency to the City. The cashier offices also prepare deposits and take customer payments. These deposits are transferred by armored car to the bank. The City has an existing contract for armored car pick-up and delivery.

F. ACH Transactions, Direct Deposit, and Wire Transfers The City attempts to maximize opportunities for electronic receipts and payments. Over 95% of our employees utilize direct deposit of payroll. The City has one (1) payroll account paying bi-weekly. Data for each payroll is transmitted to the bank separately via an ACH.

In addition, recurring large dollar ACH payments are initiated through templates in the web-based bank portal and directly to vendors when negotiated.

Wire transfer services, incoming and outgoing (repetitive and non-repetitive) are utilized and are sent via web-based bank portal and/or telephone and require dual controls (initiation/authorization).

G. Account Reconcilement & Imaging Services The City reconciles ten accounts by downloading the items paid information from the bank. The bank currently archives images available through its on-line portal for up to 3 years. Four-way positive pay (account number, check number, check amount and payee) is used on all disbursement accounts.

H. Access to Bank Records The City, or its authorized representatives, shall have access to the books and records maintained by the Bank with respect to such City bank accounts at all reasonable times, including the inspection or copying of such books and records and all memoranda, checks, correspondence, or documents pertaining thereto. Such books and records shall be preserved by the Bank as required by applicable regulatory bodies.

I. Deposit Return Items

The Proposer will make attempts to re-present any deposited checks returned because of insufficient or uncleared funds. Checks that are still uncollectible after these attempts will be returned to the City for processing. The Proposer is to describe the process for managing returned items. Notification of returned items should be delivered electronically.

J. Positive Pay

The City uses positive pay for the supplier disbursement and payroll accounts. The Proposer is required to provide Positive Pay services or other services designed to protect and prevent the occurrence of fraudulent transactions in the City’s Accounts. The positive pay file should include the check number, the check amount, the check payee information and account information.

The Proposer shall detail if they offer payee match as part of positive pay. When addressing positive pay, please address the procedure for verification when City is closed for business.

K. Earnings on Deposit The City currently is not utilizing a sweep product, but rather is receiving interest from the Bank itself.

The Proposer may offer alternative methods to a sweep product as well as the sweep proposal. The Proposer should describe the interest paid on deposits in the operating account for the life of the contract. An index can be utilized. The Proposer should identify if there is a minimum rate.

L. Stop Payments

The Proposer shall provide stop-payment service to the City. Stop payment orders via online banking must be immediately digitally confirmed. If the check at issue is paid at the time of the request, the Proposer will, as soon as reasonably possible, make available to the City a copy of the paid instrument.

The stop payment order must be effective on the date of placement. The Proposer shall agree it will be responsible for any item cashed if said item was confirmed as a stop payment on an “as-of-day” basis and is subsequently cashed by the Proposer. Stop payment orders must remain in effect for five (5) years.

M. Stale Checks City checks will not be accepted for payment by the Proposer after the time limit of six months has expired, pursuant to Florida Statute Section 674.404. Checks paid by the Proposer after the six-month time limit shall not be accepted for payment by the City and will remain the Proposer’s liability.

All foreign check deposits must be treated by the Proposer as “Payable in U.S. Funds” on the day of deposit.

N. Overdraft Protection The City will make every effort to assure that collected funds in the bank are equal to or exceed the gross amount of checks issued. However, if an unintentional overdraft condition occurs, all checks presented for payment shall be paid.

Since overdrafts commonly arise primarily for reasons of insufficient cleared funds in the account or checks clearing the account over and above the targeted cash balance, it is the City's requirement that interest on overdrafts should be handled differently for each item as follows:

a. Insufficient Funds: In cases where there are insufficient collected funds to meet demands on the account, the Proposer has the right to charge interest at the agreed upon rate plus an individual item fee as incorporated in the proposal portion of this document.

b. Daylight Overdrafts: On various occasions, the City will cause daylight overdrafts to occur. This is primarily the result of the need to meet large obligations by wire or ACH transfer, and simultaneously requesting the liquidation of investments to cover the outgoing wires. This is not a regular occurrence

O. Banking and Safekeeping Supplies

The Proposer will be required to provide all necessary Banking and Safekeeping supplies. These shall include, but not be limited to tamper-evident disposable-style deposit bags, deposit slips, deposit stamps, coin wrappers, envelopes, and security tokens.

Coins and currency are occasionally requested by various departments within the City. Please provide a standard fee (if any) for providing this service as required.

P. Disaster Recovery

The Proposer shall provide information regarding their disaster recovery plan including specific plans related to serving the City in the event of a disaster. A contact name and phone number with 24 hours/day, 7 days/week accessibility shall be provided.

Q. Treasury Management System - Online Information and Transaction Capability

The City currently utilizes a web-based Treasury Management System, to retrieve daily bank balances and transactions. The Proposer must be able to provide daily reporting for all transactions on all the City's accounts. Daily debit and credit advice from the Proposer are used as primary source documents for posting and reconciling to the City’s general ledger.

In addition, the system is used to initiate and authorize wire transfers, ACH transfers, and internal transfers, as well as manage users, permissions, tokens, and entitlements. Positive pay records, including exceptions, are also stored and managed in this system.

Currently, the City transfers money via wire transfer or ACH using repetitive, non-repetitive, and batch methods. The repetitive wires are templated and require the initiator to have secured access and dual approval, which may be from the initiator. The batch method allows entry and transmission of several transfers at one time and shares the requirements of the repetitive wire method. The non-repetitive wires require dual approval from two users with secured access. The Proposer shall offer services that meet all these requirements.

The Proposer is to describe the procedures for transferring funds in the event the treasury management software is not functioning.

The City requires an automated multi-user Treasury Management System to perform these treasury functions. The Proposer should provide any information on any treasury applications not listed above in the RFP in addition to those required.

The awarded Proposer will be required to provide the City, no later than 8:00 a.m. E.S.T. (Delray Beach, FL local time) each business day with the following minimum account- level information:

a. Ledger balance;

b. Available (or collected balance);

c. Float for 1, 2 and 3 days; and

d. Summary of debit and credit balances

The awarded Proposer will also be required to provide the City the following minimum detail-level information:

a. Transaction Date;

b. Account Name/Number;

c. Transaction Type (BAI2) Code;

d. Transaction Reference Information;

e. ACH Detail Text and Addendums; and

f. Amount of debit and credit activities

The available balance shall include the proceeds returned to the Proposer from any bank-initiated repurchase agreement from the previous business day.

3.3 Automation Requirements

Please provide a summary of the online banking system including specification on the equipment required by the City to access your online services. The specification should include any additional information necessary to enable the City to communicate electronically with the awarded Bank. The system should be able to export a file for importing to the City’s Enterprise Resource Planning System.

The file will need to be formatted to match specifications provided by the City for proper import/export from the City’s systems, Please provide a schedule of hours of operation for electronic services. List any exceptions to the general schedule. This specification should include at least the following information:

a. Recommended Operating System

b. System memory requirements

c. Minimum hard drive requirements

d. Minimum Browses requirements

The specification should include any additional information necessary to enable City to communicate electronically with the awarded Bank. Please provide a schedule of hours of operation for electronic services. List any exceptions to the general schedule.

3.4 Bank Statements and Account Analysis

The bank statement period is the calendar month. Electronic statements are expected to be available on the 1st business day after the end of the month. User-initiated download from the Proposer’s treasury management system is preferred. Account profitability analysis statements are to be provided electronically to the City no later than ten (10) business days after month end.

The City requires the bank to provide a full account reconciliation program for the Accounts Payable Account. The City will issue numbered Magnetic Ink Character Recognition (MICR) encoded checks and require the Proposer to provide a listing by check number and amount for each separate account of the checks paid within each statement period, plus electronic bank statements by separate accounts showing the detail of checks charged and deposits credited. This information should be available immediately at month-end in excel or text file format.

Debit and credit advice are to be issued for deposit discrepancies within 24 hours of deposit.

The Proposer must be able to provide electronic paid check and ACH debit listings for the Supplier Disbursement and the Payroll accounts and transmit reconcilement data via File Transfer Protocol (FTP).

These listings and transmissions shall contain all checks paid during the month in check number sequence reflecting check number, amount paid, and date paid.

Miscellaneous Items

Please outline any banking incentive programs for City employees such as:

• Free or reduced-cost checking accounts

• Reduced-rate loans

• Other free or reduced-cost services provided to Bank customer’s employees.

No Warranty

No warranty or guarantee is given or implied on the types and quantities of services ultimately required. The quantities used herein are approximately one month's requirements and are provided to afford standard cost comparisons between proposals.

3.5 BANKING SERVICE REQUIREMENTS

a. A Federal or Florida chartered bank with a principal Branch office located within the corporate limits of the City of Delray Beach, capable of servicing the City’s Bank accounts as specified herein.

b. A member of the Federal Reserve System

c. An approved Qualified Public Depository by the Treasurer of the State of Florida in conformity with the Florida Security for Public Deposits Act (Ch. 280.F.S.).

END OF SECTION 3

SECTION 4

EXHIBITS

4.1 EXHIBITS

SEE APPENDIX A

SECTION 5

RESPONSE REQUIREMENTS

5.1 SUBMITTAL REQUIREMENTS

Proposers should carefully follow the format and instructions outlined herein. All documents and information must be fully completed and signed as required. Do not password-protect electronic documents.

The Proposal shall be written in sufficient detail to permit the City to conduct a meaningful evaluation of the proposed services. However, overly elaborate responses are not requested or desired.

5.2 REQUIRED INFORMATION

In addition to the information required in Section 3, Scope of Services, Proposers must submit the following information with their Proposals:

A. SUBMITTAL FORMAT

To facilitate and expedite review, the City asks that all Proposers follow the response format outlined below. Failure to submit your response in the format requested may result in delay evaluating your Proposal. To assist you in preparing your response, the City’s selection procedures are also described herein. Proposers must abide by all requirements set forth to avoid any risk of disqualification.

B. PROPOSALS SHOULD FOLLOW THE FORMAT BELOW:

TAB 1 – INTRODUCTION

Provide a cover letter no longer than two (2) pages in length, signed by an authorized representative of your firm. Provide a positive commitment to provide the required services.

Also, the letter should disclose the name of the contracting agent and primary contact person and primary contact, his/her title, address, phone number, and email address. The table of contents should follow the cover letter.

TAB 2 – TABLE OF CONTENTS

Include a clear identification of the material included in the Proposal by page number.

TAB 3 – MINIMUM QUALIFICATIONS

Proposers must meet the following minimum qualifications; failure to meet the minimum qualifications may result in the Proposer being deemed non-responsive/responsible.

A. Must be registered with the States of Florida, Division of corporations to do business in

Florida.

No documentation is required. The City will verify registration.

B. Financial Strength of Firm:

i. Discuss the financial stability of your firm.

ii. Must provide copies of your most recent annual report, 10-K and 8-K filing.

iii. Must provide long-term and short-term ratings from two of the three nationally recognized rating agencies (Standard & Poor’s, Moodys Investors Service, Fitch) and also provide Moody’s Bank Financial Strength Rating.

iv. Must provide a five-year history of your Tier-One Risk Based Capital and Total Risk Based Capital.

v. Must provide a history of the funding level required by the State of Florida under the Chapter 280 Collaterized Deposit Program for the last two years.

All banks selected to provide services to the City must agree to notify the City in writing, if any of this information changes during the term of the contract.

vi. Describe the types of insurance and bonding carried.

C. Describe the qualifications and relevant experience of the Project Manager and all key staff that are intended to be assigned to this contract. Include resumes for the Project Manager and all key staff described.

i. Further describe Prime vendor’s proposed key staff (not subconsultants) and their experience as it directly relates to the described scope of services.

Provide the team member’s resume(s) and include specific project examples, the role(s) played, and the consultant office where they are physically located.

ii. If applicable, further describe the subconsultant’s proposed project team and their experience as it directly relates to the described scope of services.

Provide the team member’s resume(s) and include specific project examples, the role(s) played, and the consultant office where they are physically located.

iii. Provide an organizational chart of the project team including the Prime Vendor certification information and Subconsultant team member (if applicable) and identify individuals with professional certifications in the contract team.

C. Proposer is NOT listed on the Florida State Board of Administration, Scrutinized List of Prohibited Companies found at:

https://www.dms.myflorida.com/business_operations/state_purchasing/state_agency_r esources/vendor_registration_and_vendor_lists/scrutinized_list_of_prohibited_compani es

Provide an executed copy of the Scrutinized Company Certification form.

https://www.dms.myflorida.com/business_operations/state_purchasing/state_agency_resources/vendor_registration_and_vendor_lists/scrutinized_list_of_prohibited_companies https://www.dms.myflorida.com/business_operations/state_purchasing/state_agency_resources/vendor_registration_and_vendor_lists/scrutinized_list_of_prohibited_companies https://www.dms.myflorida.com/business_operations/state_purchasing/state_agency_resources/vendor_registration_and_vendor_lists/scrutinized_list_of_prohibited_companies https://www.dms.myflorida.com/business_operations/state_purchasing/state_agency_resources/vendor_registration_and_vendor_lists/scrutinized_list_of_prohibited_companies

D. Proposer has no reported conflict of interests in relation to this solicitation.

Disclose the name of any officer, director or agent who is also an employee of the City.

Disclose the name of any City employee who owns, directly or indirectly, any interest in the Proposer’s firm or any of its branches. If no conflicts of interests are present, Proposer must submit a statement to that effect.

E. Proposer has no reported exclusions in System for Award Management (SAM).

Proposer Is NOT listed on the System for Award Management (SAM), electronic roster of debarred companies excluded from Federal procurement and non‐procurement programs throughout the U.S. Government (unless otherwise noted) and from receiving Federal contracts or certain subcontracts and from certain types of Federal financial and nonfinancial assistance and benefits. No documentation is required. The City will verify the registration status. Per Section 34.f. Rejection of Bids or Proposals of the City’s Purchasing Policies and Procedures Manual, vendors may be deemed non-responsible if: Vendor have been declared to be in default on any City or public entity contract, debarred or suspended by any public entity.

F. Proposer must meet or exceed the noted minimum Banking Management Services requirements section 3.5. The City desires safekeeping services as an optional service.

Any proposer not meeting the minimum Banking Management Services requirements, or not clearly demonstrating that they meet the minimum Banking Management Services requirements and do not provide the documents required to be submitted pursuant to Banking Management Services Requirements, shall not be considered for evaluation by the evaluation committee.

TAB 4 – PROPOSER’S INFORMATION

A. Legal contracting name including any dba and state of organization or incorporation.

B. Ownership structure of Proposer’s company (e.g., Partnership, Limited Liability Corporation, Corporation).

C. Provide, in this section, a completed and executed copy of Proposer’s W-9 that includes the company federal identification number.

D. Contact information for Proposer’s Corporate headquarters and any offices in Palm Beach and Broward counties to include the following:

i. Address

ii. City, State, Zip

iii. Phone

E. Contact information for Proposer’s primary and secondary representative during this solicitation process.

i. Name

ii. Phone

iii. E-mail

iv. Mailing Address

v. City, State, Zip

F. Provide details of any significant ownership changes to Proposer’s organization in the past three years or changes anticipated within six months of the Due Date and Time (e.g., mergers, acquisitions, changes in executive leadership).

G. Provide the names of the people who are officers or principals of the company.

H. Any additional organizational information that the Proposer’s wishes to supply to augment its Proposal.

I. Must provide information concerning any prior or pending litigation, either civil or criminal, involving a governmental agency or which may affect the performance of the services to be rendered herein, in which the Proposer, or any of its employees, is or has been involved within the last three (3) years.

J. Must provide most recent certified business financial statements as of a date not earlier than the end of the Proposer’s preceding official tax accounting period, together with a statement in writing, signed by a duly authorized representative, stating that the present financial condition is materially the same as that shown on the balance sheet and income statement submitted, or with an explanation for any material change in the financial condition. A copy of the most recent business income tax return will be accepted if certified financial statements are unavailable.

TAB 5 – APPROACH, CAPACITY AND REFERENCES

A. Provide a narrative of the proposed approach and methodology for engaging with City representatives while in the course of performing the duties.

B. The overall approach to delivering the Scope of Services, Deliverables and any strategies

Proposer proposes to implement.

C. Details of implementation plan and schedule.

D. Proposer shall specify the location(s), including the complete physical address, where the work for this project will be performed, including work performed by subcontractors, if applicable.

E. Proposer shall thoroughly explain:

i. Submit details of Proposer’s staffing resources, at the location(s) that will provide services to the City as well as corporately, by discipline and the number or personnel within each discipline.

ii. If Proposer’s staffing resources includes sub-consultants, submit the name of the firm(s) who will perform each discipline. If more than one firm is listed for a discipline, then label which firm is the primary firm for that discipline. Firms may perform more than one discipline.

iii. Submit an organizational chart clearly identifying key personnel as well as other staffing resources who are designated to provide services to the City and indicate their functional relations hip to each other.

F. Provide a minimum of three (3) client references for projects with similar scope who are agreeable to responding to an inquiry by the City. References should include the following information:

i. Organization name

ii. Contact name(s)

iii. Address

iv. Telephone number

v. Date of service (start/end)

vi. Total amount of contract

vii. Scope of Work (brief description)

TAB 6 – FEE PROPOSAL

Propose a fee schedule for use of the requested services/work and schedule of fees for compilation of all proposed services required. Provide revenue split.

TAB 7 – ATTACHMENTS

All Attachment/Forms and Affidavits required by this solicitation shall be fully executed by the Proposer and submitted as shown in Section 7 of this solicitation.

END OF SECTION 5

SECTION 6

THE EVALUATION PROCESS

6.1 REVIEW OF PROPOSALS FOR RESPONSIVENESS

Each Proposal will be reviewed to determine if the Proposal is responsive to the submission requirements outlined in this solicitation. A responsive Proposal is one that follows the requirements of this solicitation, includes all documentation, is submitted in the format outlined in this solicitation, is of timely submission, and has the appropriate signatures as required on each document. Failure to comply with these requirements may result in the Proposal being deemed non-responsive.

6.2 REVIEW OF PROPOSALS FOR RESPONSIBILITY

Each Proposer will be reviewed to determine if the Proposer is a responsible Proposer. A responsible Proposer is a Proposer which the City affirmatively determines (prior to the award of a contract) has the ability, capability, and skill to perform under the terms of the contract; can provide the materials or service promptly within the time specified, without delay or interference; has a satisfactory record of integrity and business ethics; and meet the Minimum Qualification requirements in this solicitation.

6.3 EVALUATION CRITERIA

Proposals will be evaluated by an Evaluation/Selection Committee that will evaluate and rank Proposals on the criteria listed below. The Evaluation/Selection Committee will be comprised of appropriate City personnel and/or members of the community, as deemed necessary, with the appropriate experience and/or knowledge. The criteria are itemized with their maximum scores for a maximum total of one hundred (100) points per Evaluation/Selection Committee member.

CRITERIA MAX. POINTS

a. Qualifications 20

b. Management Team and Supervisory Staff Qualification and Experience 10

c. Methodology, Approach and Understanding of Scope of Services 20

d. Proposed fees and compensation 20

e. Public Sector Experience 20

f. References 10

6.4 ORAL PRESENTATIONS

Upon initial completion of the criteria evaluation indicated above, rating and ranking, the Evaluation/Selection Committee may choose to conduct an oral presentation with the Proposer(s) which the Evaluation/Selection Committee deems to warrant further consideration based on, among other considerations, scores in clusters and/or maintaining competition. Upon completion of the oral presentation(s), the Evaluation/Selection Committee will perform a final review to re-evaluate, re-rate, and re-rank the Proposals remaining in consideration based upon the written documents, combined with the oral presentation. In such circumstances, the initial ranking of the Proposers shall be considered a preliminary ranking until after the oral presentations are completed.

6.5 PRICE OFFERS AND EVALUATION

After the evaluation of the technical areas of the Proposal, the City will evaluate the price aspects of the Proposal. The City will use the prices submitted by each Proposer to estimate the total cost of the Proposer’s services. The Proposer that submits the lowest total price for all combined services will be awarded the maximum number of points (20). The total points awarded for price is determined by applying the following formula: (Lowest Proposed Price/Vendor’s Price) x (Maximum Number of Points for Price) = Price Score. The pricing evaluation is used as part of the evaluation process to determine the highest-ranked Proposer.

The City reserves the right to negotiate the final terms, conditions, and pricing of the contract…