URFP NO. 100161-FY27-04 Banking Services Consultant and Cash Management Services

The Town of Leesburg is soliciting unsealed proposals from qualified firms to provide banking consulting services and cash management services, with proposals due August 21, 2026. Acknowledgment of Addendum No. 1 (issued August 14) is required with proposal submission. No pricing is to be submitted with proposals; the Town will solicit non-binding cost estimates under separate cover at a later date.

The scope includes assisting the Town in developing a Request for Proposal for its banking services and delivering ongoing cash management services such as cash flow monitoring, analysis, and forecasting; investment support including solicitation and evaluation of investment quotes from qualified financial institutions in accordance with the Virginia Public Procurement Act. The Town maintains approximately $165 million in cash, cash equivalents, and investments and currently operates multiple banking services including operating accounts, lockbox services, remote deposit services, investment and sweep services, fraud prevention services, and reporting services. The contractor must not provide professional discretionary management of investments; the Town retains control of investment decision-making.

The initial contract term is one year, commencing on a mutually agreed-upon date, with options for up to four additional one-year renewal periods. The Town reserves the right to award one contract or multiple contracts if deemed in its best interest.

Evaluation is weighted as follows: Demonstrated Understanding of Town's Needs (35 percent), Qualifications, Experience, Capabilities and Skill (45 percent), and Overall Completeness and Quality of Proposal (20 percent). The contractor must comply with industry-leading cybersecurity standards including Single Sign-On integration with Microsoft 365 and Azure AD, Multi-Factor Authentication, ISO 27001 or NIST CSF 2.0 compliance, TLS 1.2 or higher encryption, and annual third-party penetration testing. Required insurance includes General Liability ($1,000,000), Auto Liability ($1,000,000), Cyber Liability ($5,000,000 per claim/$5,000,000 aggregate), and Professional Liability ($5,000,000 per claim/$5,000,000 aggregate).

Proposals must not exceed fifty pages and must include executive summary, offeror's experience and history, project team information, client references, detailed description of proposed services, and any exceptions to the URFP requirements. Submit electronically via eVA by August 21, 2026 at 3:00 PM (ET). Questions should be directed to Kelly Hall, CPPB, VCO Buyer II, at kneff@leesburgva.gov.