• Request for Proposal for Banking Services


    The Southwestern Central School District, hereinafter known as the District, will receive proposals at the Business Office located at 600 Hunt Rd.; Jamestown, N.Y. 14701 until 2:00 p.m., on 08/03/18, for Banking Services to be provided for the period 10/1/2018 to 6/30/2023.  All questions should be directed to Annette Rhebergen (716)484-1136.

    The envelopes containing the proposals should be addressed to:

    Annette Rhebergen

    School Business Official

    Southwestern Central School District

    600 Hunt Rd.

    Jamestown, NY 14701

    Brief Description of the District

    • Enrollment – Pre-K-12 - 1335
    • Number of Instructional Staff - 130
    • Number of Support Staff - 65
    • Number of Administrators - 5
    • BOCES-Erie 2 Chautauqua Cattaraugus
    • Schools
      • Southwestern High School
      • Southwestern Middle School
      • Southwestern Elementary School

    Budget

    General Fund Budget for 2017-2018                          $ 27,366,108

    Evaluation Procedures and Criteria

    This request for proposal is designed to obtain complete data from each vendor so as to enable the District to determine which vendor is best able to provide Banking Services. As such, each vendor must furnish, as part of this proposal, a complete description of its ability and experience in this particular business. Omissions, inaccuracies or misstatements may be sufficient cause for rejection of the proposal.

    The District’s evaluation committee shall be responsible for the evaluation. Proposals will be evaluated on the following criteria:

    • Cost and flexibility of services
    • In person branch tax collection and services offered for tax collection
    • Ability to provide services efficiently and effectively through automation
    • References from other governmental clients
    • Interest rate and/or earnings credit rate paid on all deposit accounts
    • Knowledge and experience of Customer Support Team
    • Other optional services

    Timeline

    Request for Proposals Mailed: July 16, 2018

    Due to Southwestern Central School District: August 3, 2018

    Proposals Reviewed by the District: August 3 – August 7

    Interview of Finalists and Selection of Bank: August 8- August 10

    Anticipated Board Action: August 14, 2018

    Anticipated implementation of Banking Services: July 1, 2018

    Account Specifications

                       

    Average Monthly Transactions

                       

    Account Name

    Interest Bearing

    Average Collected Balance ($)

    Checks Paid (Volume)

    Deposits (Volume)

    Items Deposited (Volume)

    Intra-account transfers

    Electronic and other debits or credits

    ACH Credits (Volume)

    ACH Debits (Volume)

    Direct Deposit Transactions (Volume)

    Money Market Accounts:

     

     

     

     

     

     

     

     

     

     

    Misc. Special Revenue SWCS Education Foundation

    Yes

    262,003.35

    0

    0

    0

    0

    0

    0

    0

    0

    Misc. Special Revenue Turf Replacement Fund

    Yes

    86791.14

    0

    0

    0

    1

    0

    0

    0

    0

    ERS MM

    Yes

    1,247,316.26

    0

    0

    0

    0

    0

    0

    0

    0

    General MM

    Yes

    4,665,894.06

    0

    0

    0

    4

    0

    4

    0

    0

     Debt Service MM

    Yes

    411,225.24

    0

    0

    0

    0

    0

    0

    0

    0

    Tax Certiorari MM

    Yes

    166,425.46

    0

    0

    0

    0

    0

    0

    0

    0

    Unemployment MM

    Yes

    251,455.67

    0

    0

    0

    0

    0

    0

    0

    0

    Capital Reserve

    Yes

    77.36

    0

    0

    0

    0

    0

    0

    0

    0

    Checking Accounts:

     

     

     

     

     

     

     

     

     

     

    General Fund

    Yes

     

    499,273.99

     

    142

    5

     

    17

     

    4

    2

    0

     

    0

     

     

    2

     

    Cafeteria

    No

    195,456.31

    5

    15

    72

    0

    2

    22

    1

    0

    Capital Checking

    Yes

    3,238,629.21

    8

    0

    2

    1

    0

    0

    0

    0

    Federal Checking

    Yes

    440,485.63

    1

    0

    0

    1

    0

    0

    0

    0

    Trust & Agency Checking

    Yes

    844,857.32

    12

    6

    122

    1

    2

    0

    11

    0

    Payroll Checking

    No

    46,506.49

    62

    0

    0

    0

    0

    1

    2

    465

    Expendable Trust Joe Rushin Fund

    No

     

     

     

     

     

     

     

     

     

    Expendable Trust Olson Memorial Scholarship

    No

    55.97

    0

    0

    0

    0

    0

    0

    0

    0

    Expendable Trust Perkins Scholarship

    No

    221.47

    0

    0

    0

    0

    0

    0

    0

    0

     

    Total of all Accts – Volumes by Month

     

    Average Collected Balance ($)

    Checks Paid (Volume)

    Deposits (Volume)

    Items Deposited (Volume)

    Inter Fund Transfer

    Electronic and other debits or credits

    ACH Credits

    ACH Debits

    Direct Deposit Transactions (Volume)

     

    Apr-17

    $10,213,947.90

    205

    27

    323

    5

    4

    23

    12

    441

     

    May-17

    $9,268,269.74

    257

    37

    234

    10

    5

    36

    12

    673

     

    Jun-17

    $7,363,415.66

    209

    34

    283

    2

    9

    13

    13

    304

     

    Jul-17

    $12,815,298.02

    182

    8

    99

    7

    6

    1

    12

    231

     

    Aug-17

    $10,862,282.86

    173

    8

    129

    4

    4

    5

    13

    283

     

    Sep-17

    $10,780,582.24

    174

    26

    148

    7

    3

    28

    16

    467

     

    Oct-17

    $18,145,744.92

    364

    33

    224

    0

    3

    35

    12

    468

     

    Nov-17

    $16,800,919.15

    241

    32

    254

    1

    3

    29

    14

    496

     

    Dec-17

    $14,563,612.46

    252

    24

    251

    5

    29

    27

    13

    516

     

    Jan-18

    $14,739,255.81

    256

    27

    224

    4

    6

    31

    12

    712

     

    Feb-18

    $12,346,289.19

    216

    29

    195

    4

    3

    26

    12

    503

     

    Mar-18

    $10,380,481.40

    220

    29

    193

    2

    4

    34

    18

    512

    Lockbox Account:

     

     

     

     

     

     

    Total Tax Items Processed

    Total Tax Items (Bar Code)

    Total Tax Receipts

    Total Tax Items Rejected

    School Tax Collection

    No

    640,251.97

    0

    0

    0

    2

    4113

    1664

    7086

    148

    Banking Service Requirements:

    The following requirements cover the Banking Services of the District for an anticipated five-year period. 

    I.Checking Accounts:

    • General Fund
    • Federal Fund
    • Cafeteria
    • Capital
    • Trust & Agency
    • Payroll
    • Expendable Trust

     II.Money Market Accounts:

    • Debt Service
    • Capital
    • General
    • Tax Certiorari
    • Miscellaneous Special Revenue
    • Reserve for Retirement
    • Reserve for Unemployment

    III. Cash Management Services:

    1. Online Banking - The District requests an online system that will allow the District access to their accounts.
    2. Reconciliation Services - The District requests fully automated reconciliation services on the and Payroll accounts and partial reconciliation services on Trust & Agency.
    3. Direct Deposit Payroll – The District must have the ability to provide Direct Deposit to its employees.
    4. Check Imaging – The District must receive images of all checks paid.

    IV. Collateral:

    1. The District requests a fully executed third party collateral agreement covering 102% of all accounts and Certificates of Deposit in excess of FDIC coverage.
    2. The third party custodian must be a bank or trust company located in and licensed to transact in the state of New York.
    3. The third party custodian will have the responsibility of confirming receipt of the collateral from the depository and ensuring that the depository only transfers collateral from the account under appropriate circumstances.
    4. The custodian will provide valuation or pledged securities, at least monthly, in accordance with General Municipal Law.
    5. Will there be a fee for this service?

    Bank Response Form

     

    Name of Bank:            ______________________________________ Date: __________

     

    Address:                      ______________________________________

     

                                      ______________________________________

     

    Representative:           __________________________________

     

    Title:                          __________________________________

     

    A.  Checking & Savings Accounts:

    Would the District’s checking accounts be interest bearing?

    Yes _______ No _______

    What is the current interest rate?

    Will money market savings accounts be available?

    Yes _______ No _______

    What is the current interest rate?

    Describe how interest is calculated.

    Please provide a history of your interest rate paid for the last 12 months ending in March 2018.         

          NOW Checking:

          High _______ Low _______ Average ______

               

    Money Market Savings:

    High _______ Low _______ Average ______

     

    Describe minimum balance requirements

     

    B.  Investment Services: 

    If requested, will your bank regularly bid on certificates of deposit for the District?

    Yes _______ No _______

    What is the method used for computing interest?

    Will your bank provide repurchase agreements?

    Yes _______ No _______

    Describe the bank’s procedures for collateralizing/securing repurchase agreements.

     

    C.  Collateral:

    Where will the required third party collateral be maintained?

    How will the collateral be reported to the District?

    Who will be the third party Custodian of pledged securities?

     

    D.  Cash Management Services:

    Describe your bank’s online banking services. Comment on the following: balance inquiry, transaction detail, stop payments, wire transfers and ACH.

    Describe your bank’s reconciliation services. Comment on the following: full and partial account reconciliation, check generation transmission and statement generation.

    Does your bank provide Direct Deposit Payroll services?

    Yes _______ No _______

    Are direct deposits to other banks available through your bank?

    Yes _______ No _______

    Describe how your bank will provide this service.

    Does your bank offer any benefits for employees who use direct deposit service?

    Yes_______ No________

    Does your bank provide for wire transfer services of funds by the District or by other institutions?

    Yes_______ No________

    Does your bank provide verification of the above wire services?

    Yes_______ No________

     

    E.  Compensation:

    What amount of compensating balance will be required to avoid fees?

    Describe how your bank will calculate the compensating balance noted above.

    What is your current earnings credit rate?

    Describe how your bank will calculate the earnings credit rate noted above.

    Please provide a detail for all pricing.

     

    F.  Branch Services:

    Does the bank have local branch locations? If so, where are they located and what are their hours of operation?   If not, what other arrangements are available for depository services?

    Will night depository arrangements be provided? If so, at what location?

    Are drive-through services available? Is so, what are the hours and branch locations?

    Are check-cashing privileges for District bank accounts available at branches?

     

    G.  Relationship Servicing:

    Will direct access (not an 800#) be available to contact Bank Representatives?

    Yes _______ No _______

    Describe in detail the staffing of the customer support team that will service the District.

    Include: names, titles and explain how the team will provide quality service.

     

    H.  Borrowing Services:

    Will your bank actively bid on Revenue, Bond and Tax Anticipation Notes?

    Yes _______ No _______

    Does your bank offer governmental leasing services?

    Yes _______ No _______

     

    I.  Other Services:

    Does your bank provide tax collection services?

    Describe other services that your bank could provide the District.

     

    J.  Other Comments:

    Please describe additional features or services, not described above, that will be included without additional charges, (i.e. student scholarship, advertising, internships, etc.).

    Please provide any additional information that may be useful to the Auburn Enlarged City School District.

     

    K.  References:

    Please provide on a separate page, a list of other local school districts, BOCES, and municipalities for which your bank is providing banking services. Include the name of the entity, contact person and phone number.

    RECEIPT CONFIRMATION 

    REQUEST FOR PROPOSAL for BANKING SERVICES

     

    NAME OF BANK                             ____________________________                           

    ADDRESS OF BANK                       ____________________________

    ADDRESS OF BANK                       ____________________________

    CONTACT EMPLOYEE / PHONE        ____________________________

    Please indicate your intent and return this form via fax (716-488-2442) or by mail to the attention of Annette S. Rhebergen, School Business Official.

     

    ___ I have received the quotation packet and intend to submit a proposal by 2:00 p.m. on August 3, 2018.

    ___ Please provide an electronic copy of this Request for Proposal. Below is my e-mail address: 

          ________________________________________________________________________

    ___ I have received the quotation packet and DO NOT intend to submit a proposal.

     

    __________________________                                _______________________

    Signature                                                                     Printed Name