Banking Services for the City of Fayetteville

The City of Fayetteville, Georgia has issued a Request for Proposal (RFP #FI151-06) for comprehensive banking services, seeking sealed proposals from financial institutions to manage the city's banking needs. The procurement focuses on obtaining cost-effective and efficient banking services for thirty separate municipal accounts, with an initial one-year contract term and potential for four additional one-year renewals. Required services include online banking, remote deposit, wire transfers, ACH services, positive pay, and advanced account management features. Proposing banks must maintain a full-service branch network within Fayetteville and be a federally or state-chartered bank qualified to do business in Georgia. The city will evaluate proposals based on responsiveness, service performance capabilities, financial strength, fee structures, interest rates, and community banking services. Key deadlines include a question submission deadline of March 10, 2023, at 5:00 PM, and proposal due date of March 23, 2023, at 2:00 PM. Proposals must be submitted with one original, three physical copies, and one electronic copy, with a separate sealed envelope for cost proposals.

The RFP does not explicitly outline specific set-aside designations or restrictions for disadvantaged enterprises. The current banking provider is Synovus Bank, whose January 2023 account analysis revealed total investable balances of $29,725,228.66 and analyzed fees of $5,245.08. The city utilizes Tyler Tech accounting software and currently employs six Remote Deposit Capture scanners, ACH services for thirteen accounts, and Positive Pay functionality. Existing technological infrastructure includes bi-weekly direct payroll file submissions and a lockbox service. While a specific contract value is not definitively stated, the city maintains an average balance of $17 million, which is expected to decrease after ARPA funds are depleted. The contract is anticipated to be awarded on May 4, 2023, with banking services commencing on August 1, 2023, and potential continuation through July 31, 2028. Proposers must complete various compliance forms related to immigration status, campaign contributions, and organizational structure.