CITY OF SAN ANTONIO
FINANCE DEPARTMENT
AUDIT COMMITTEE
INTERDEPARTMENTAL MEMO
TO: Sheryl Sculley, City Manager
FROM: Troy Elliott, CPA, Deputy Chief Financial Officer, Finance Department
COPY: Audit Committee; Ben Gorzell Jr., CPA, Chief Financial Officer; Kevin Barthold, City Auditor
SUBJECT: Post-Solicitation Briefing for Depository Banking and Lockbox Services
DATE: May 30, 2017
The City of San Antonio, Finance Department issued a Request for Proposals (RFP) for Depository Banking and Lockbox Services. Depository Banking Services include collecting and disbursing the City's funds, providing timely, accurate and reader-friendly reports, implementing security measures to protect and assist the City with its fiduciary responsibilities with respect to financial assets, providing online cash management services, as well as other financial services including, but not limited to, safekeeping, trust, escrow, and other receivable and payables services. Lockbox Services include collecting, processing, and depositing the City's receivables (i.e. wholesale, retail, etc.) directly through a designated post office box. Banks were allowed to submit proposals to provide one or both services.
The estimated contact value for Depository Banking Services is $125,000 and Lockbox Services is $20,000 annually. The initial term for the contract(s) awarded in response to this RFP is three (3) years, with the option to renew under the same terms and conditions for one (1), two (2) year period.
The City's objectives with respect to Depository Banking Services include selecting a bank that will assist in enhancing security measures and increasing efficiency and productivity, provide and implement banking solutions that will optimize effectiveness through advanced technology, and demonstrated a strong commitment to the community. The City's objectives with respect to Lockbox Services include selecting a bank that will accelerate cash flow, improve the efficiency of collections...
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