BRIDGETON PUBLIC CHARTER SCHOOL

Transcription

1 BRIDGETON PUBLIC CHARTER SCHOOL REQUEST FOR PROPOSALS FOR THE PROVISION OF BANKING SERVICES RFP ISSUE DATE: August 9, 2015 DUE DATE: August 31, 2015 Issued by: Douglas McGarry, Board Secretary/Business Manager

2 BACKGROUND The Bridgeton Public Charter School Board of Trustees maintains five separate checking accounts. The budget for the school year is approximately $1,000,000. REQUIRED SERVICES The Board of Trustees requires the following services on their accounts. Any charges for these services are to be noted on the attached proposal form. Any variation from these requirements MUST be noted: 1. Monthly statements of all bank accounts are due the 5 th day of the month. 2. All monthly statements must include deposits and checks cleared in check number order. 3. Check images must be included with statements. 4. Interest on accounts. 5. Availability of Sweep Accounts and interest rates. 6. Wiring services.

3 7. Monthly account analysis to include bank earnings credit, itemized fees, and interest earned to be credited to the district. 8. A bank office located within 10 miles of the school, at which the district can transact business, in a convenient location. 9. Eligibility to act as depository for public funds under the Governmental Unit Deposit Protection Act. 10. Contact person at the local Board of Trustees is Doug McGarry, 2560 Industrial Way, Suite C, Vineland, NJ 08360, Printing of all checks (including laser checks for our accounting system), laser check chip encoding, deposit slips, and purchase orders at no charge to the Board of Trustees ed notification of all electronic fund transfers with source and purpose described. 13. The ability to process third party credit card deposits for the school s lunch program. 14. The ability to process direct deposits for payroll and have them initiated by our payroll company.

4 All communications concerning this RFP or the RFP process shall be directed to the designated contact person, in writing. Designated Contact Person(s): Douglas McGarry, Board Secretary Bridgeton Public Charter School Board of Trustees 2560 Industrial Way, Unit C. Vineland, NJ Proposal Statements must be submitted to, and be received by, the Board, via mail or hand delivery, by (10:00 AM) Prevailing Time on (August 31, 2015).

5 PROPOSAL AWARD The Board of Trustees will award a contract for banking services based on services provided by the bank and anticipated interest revenue; and is contingent upon the banking offering at least a $25,000 line of credit. The Board retains the right to decide what services are in its best interest. BANKING PROPOSAL BOARD OF TRUSTEES Name of Bank: Date: Submitted by: Name Title NOTE: The fees/formulas/services indicated in this proposal are those which will be in effect for the duration of the contract. The rate of interest (Item 1) is for informational purposes only, but MUST be completed. The bidder certifies that any fees or formulas for affixing the rate of interest or providing services will remain in effect for the duration of the contract. The bidder also certifies that, should the bank be merged, sold, or consolidated, that this agreement shall remain in full.

6 1. Current rate of interest on checking accounts as of the week of August 15, 2015: 2. Formula for fixing rate of interest: 3. Interest calculated on Bank Statement Balance, Collected Balances, Estimate of Percent of Collected Funds, Other. Explain: 4. Minimum balance required in account to collect interest: 5. Interest paid on minimum deposit: 6. Penalties for falling below minimum balance: 7. Maximum balance allowed in account: 8. Monthly maintenance charge: 9. Transaction fees: Account Analysis Check Processing Check sorting

7 Deposits Stop Payments Wiring Fees In and Out Other: (Attach separate page if necessary) 10. Time of day deposits and/or wired investments must be received for same day transactions. 11. Do you provide: Fees (if any) Direct deposit of payroll checks for Board of Trustees Employees at your bank at other banks? Free checking at your bank for Board of Trustees employees? State any additional services provided by your bank. Please list any applicable conditions or charges.

8 12. If all major school district accounts were awarded to your bank, would you provide free checking account services to smaller accounts of the Board of Trustees such as school petty cash and student activity funds? Yes/No Would these free accounts be available at branch locations? Yes/No Maximum amount of accounts permitted 13. Location of branches in the area: 14. Describe any additional proposals your bank might offer. Include fees/costs.

9 PROPSAL SUMMARY This should be First Page of Bid Submittal Name of Bank: Address: Person Completing Proposal: Title: Phone Number: Date: The undersigned hereby proposes to furnish and deliver the items specified on the attached pages for which prices are hereby given, in strict accordance with these specifications, conditions, and requirements. No plea of mistake in such accepted bid shall be available to the undersigned bidder. Prices must be firm for the duration of a year agreement commencing and ending on. 1. Rate of interest on checking accounts as of the week of 2. Services provided by bank:

10 Monthly statement on the Accounts by the day of the month. Statement on the Payroll Account days after the close of the month. Reconciliation of the Payroll Account to include list of outstanding checks by number and amount, total amount of checks outstanding, checks sorted numerically. Interest on accounts. Wiring services. Monthly account analysis to include bank earnings credit, itemized fees, and interest earned to be credited to the district. A bank office, at which the district can transact business, in a convenient location in the area. Location of bank office: 3. Summary Payroll Account General & Agency Accounts Fees Interest Credited to District Official Signature