HomeMy WebLinkAboutRFP 19-07 EXHIBIT A: Service Level DetailsRFP #19-07
Banking Services – EXHIBIT A
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EXHIBIT A
SERVICE LEVEL ITEM DETAILS
Please refer to FORM C – Qualification Statement (pages 28-32 of the RFP) to provide affirmation and
descriptions of the service level items detailed below.
A. Web-based Banking
(1) ACH and Wire Transfers: Bank must agree to execute any wire transfer order within one (1)
hour after notification and secondary approval by the City via the Internet or by telephone.
The City intends to initiate repetitive and non-repetitive transfers. Details of transfers must be
displayed on-line and printable. Incoming transfers shall be credited the day of receipt and
have same day availability. The City desires to enter into a “Wire Transfer Agreement” and a
copy should be included with the proposal.
(2) Availability Schedule: The City desires that deposits become collected funds at the earliest
time possible. A copy of the Availability Schedule should be included with the proposal.
(3) Current Day Transactions: The City has the ability to inquire on-line and print reports for
transactions that occurred during the current day. Include a sample report from the Bank’s
system with the proposal.
(4) Cancelled Check Images: The City has the on-line capability to view and print images of
cancelled checks on-line. Include a sample image from the Bank’s system with the proposal.
(5) Stop Payments: The City has the on-line capability to issue a stop payment order. The Bank
is responsible for any item cashed following a Stop Payment order. Stop payments are
infrequent, with only about 6 per year.
(6) Positive Pay Service: The City uploads information on checks issued and the Bank insures
that only valid checks will be honored. The City issues about 1,100 payroll checks and about
2,700 accounts payable checks per year.
(7) Remote Check Deposits: The City desires the ability to remotely scan check deposits daily.
Currently a scanner linked to bank’s online portal allows for daily check scans.
B. Monthly Statements: Monthly statements shall be received reporting all debit and credit activity or
corresponding daily balances. All check numbers and amounts will be shown in numerical sequence.
The City will be provided a separate CD-Rom or electronic file of all cancelled checks.
C. Account Analysis: The Bank shall furnish an account analysis reflecting all accounts being serviced
by the bank. It shall contain at a minimum, average daily ledger balance, less float and any reserve
requirements to arrive at a net collected balance, a detailed listing of all charges for services by
account and a summary of all accounts.
D. Cost for Supplies: The City desires that necessary banking supplies, including disposable
depository bags, deposit stamps, printed deposit tickets, coin wrappers and envelopes be provided to
the City at no charge.
E. Cost for Conversion and Training: The City expects that all necessary assistance for conversion
and training will be offered at no charge.
RFP #19-07
Banking Services – EXHIBIT A
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F. Payment for Services: The Bank may process a “debit” to the appropriate account in lieu of the City
making a direct payment. After review of the account analysis, the City may q uestion or contest the
charges. The Bank shall provide supporting documentation and make every effort to respond
promptly to any City concerns or questions.
G. Information and Research Request: The City expects information and research request to be
responded to within a reasonable time frame.
H. Bank Error Corrections: Adjustments are expected for any lost interest or charges resulting from a
“fail” to consummate an ACH or wire transfer transaction due to the Bank’s fault.
I. Overdrawn Balances: The City does not anticipate that it will overdraw and create a negative
balance. However, it expects any interest charges to be calculated at the same rate the Bank pays,
without overdraft fees or other penalties.
J. Deposits and NSF Checks: The City makes about 600 deposits per year. NSF checks are seldom
encountered, with only about 10 per year. The City desires NSF checks to be processed twice before
being returned to the City.
K. Coins and Currency: On relatively rare occasions, the City requires an even exchange of funds for
various purposes and needs this service to be without any fees or charges.
L. Federal Income Tax and FICA: These ACH transactions must be handled in accordance with
Federal and State regulations, as pertain to local governments.
M. Employee Check Cashing: The Bank will be required to cash payroll checks for City employees.
N. Disaster Recovery Plan: The City needs assurance that the Bank is adequately prepared to recover
from disaster events or emergencies and that disruption to City services will be minimal.
O. Procurement Card (ALTERNATIVE OPTION): The City may decide to change Procurement Card
Programs during the term of this contract.