CLAYTON STATE UNIVERSITY REQUEST FOR PROPOSAL RFP# Bank Depository and Cash Management Services (Banking Services)

Transcription

1 CLAYTON STATE UNIVERSITY REQUEST FOR PROPOSAL RFP# Bank Depository and Cash Management Services (Banking Services) Clayton State University (CSU) requests banking institutions (Banks) to provide depository and cash management services. We invite your Bank to submit a final proposal to us for consideration by 4:00 P.M. on June 14, A description of the University, the accounts required, the services needed, and other pertinent information follows REQUEST FOR PROPOSAL ISSUED ON May 13, 2013 RESPONSE DUE BY 4:00 P.M. EST ON June 14, 2013

2 Table of Contents I. Introduction to Clayton State University... 3 II. RFP/Contract Terms Issuing Officer Schedule of Events Mandatory and Scored Questions Submitting Questions Restrictions on Communications... 5 III. State s Rights... 5 IV. CSU Banking Information... 7 V. Institutional Qualifications of Bank... 9 VI. Institutional Requirements...10 VII. Response Terms and Conditions Other Requirements...13 VIII. Pricing...13 IX. Evaluation of Proposal Questions and Answers...14 X. Submission of Proposal...14 XI. Evaluation and Selection of Bank s Proposal Oral Presentations...15 XII. Contract Terms, Conditions, and Award Term of Contract Contract Award Exceptions to Contract Contract Negotiation

3 I. Introduction to Clayton State University Clayton State University ( CSU ) is a senior, four-year institution in the University System of Georgia. Clayton State University is located 15 miles from downtown Atlanta in a beautiful lakeside setting which is complemented by the resources available in a major, vibrant metropolitan hub. Instructional sites in Fayette, Henry, and Rockdale counties provide outreach to neighboring community populations, and ecore online courses extend educational alternatives. The University currently offers eight (8) master s degree programs and forty (40) baccalaureate degree majors. With an enrollment of more than 6,900 students, Clayton State embraces the rich cultural and socio-economic diversity of the greater Atlanta region through its diverse faculty, its multi-ethnic and multi-generational student population, its successful alumni working in the area, and the wide variety of clubs and organizational activities for students. The Clayton State University classroom experience is led by a highly-regarded faculty with academic and business-world expertise in their fields. The University fosters learning and excellence through integrated academic instruction encompassing a technological classroom environment, internships and student research. CSU Leads the Way A national pioneer in ubiquitous mobile computing, Clayton State University was the third public university to require that each student have access to a notebook computer and has distinguished its learning environment as one of a small number of Notebook Universities. Federal and Georgia Archives Clayton State University is the only university in the country adjacent to both state and national archives facilities: the Georgia Archives and the National Archives and Records Administration Southeast Region. This proximity is invaluable for the Master of Archival Studies degree program which accords students exposure to state-of-the-art preservation and digital archives techniques. Spivey Hall CSU s world-famous performance venue, Spivey Hall, is located on the University s main campus. Spivey Hall is one of the nation s premier chamber music venues, presenting annually more than 400 events. The Hall s annual concert series offers world-class musicians performing timeless music in an acoustically perfect place. Known for its commitment to education outreach, performance and touring opportunities attract aspiring youth to the Spivey Hall Children s Choir. Economic Impact Clayton State had an economic impact of more than $252 million during FY

4 II. RFP/Contract Terms 1. Issuing Officer Marcia Jones, Director of Procurement Services 2. Schedule of Events The schedule of events set out herein represents Clayton State University s best estimate of the schedule that will be followed. However, delays may occur which may necessitate adjustments to the proposed schedule. If a component of this schedule is delayed, the rest of the schedule may be shifted as appropriate. Any changes to the dates up to the closing date of the RFP will be publicly posted prior to the closing date of this RFP. Description Date Time Release of RFP May 13, 2013 Deadline for written questions sent via May 23, :00 P.M. EST to the Issuing Officer Responses to Written Questions May 31, :00 P.M. EST Banks' Responses Due/Close Date and June 14, :00 P.M. EST Time Evaluation & Selection of Bank Finalists 3 to 4 weeks after closing Oral Presentations for Finalists if Needed July/August 2013 Depending on TBD the next scheduled meeting of the State Depository Board Notice of Award 3 to 4 weeks after Oral Presentations 3. Mandatory and Scored Questions All Mandatory Questions in Exhibit C must be answered with a YES. Any questions answered with a NO will fail the technical requirements of this RFP and result in disqualification. This RFP also includes a list of Mandatory Scored Questions in Exhibit D to be used in the evaluation and selection of the Bank s proposal. 4

5 4. Submitting Questions All questions concerning this RFP must be submitted in writing via to the Issuing Officer identified above. No questions other than written will be accepted. No response other than written will be binding upon the State. All Banks must submit questions by the deadline identified in the Schedule of Events for submitting questions. Banks are cautioned that the State may or may not elect to entertain late questions or questions submitted by any other method than as directed by this section. All questions about this RFP must be submitted in the following format: Bank Name Question #1 Question, Citation of relevant section of the RFP Question #2 Question, Citation of relevant section of the RFP 5. Restrictions on Communications From the issue date of this RFP until the final award is announced (or the RFP is officially cancelled), Banks are not allowed to communicate for any reason with any State staff except through the Issuing Officer named herein, or as defined in this RFP or as provided by existing work agreement(s) or as indicated by any addendum. Prohibited communication includes all contact or interaction, including but not limited to telephonic communications, s, faxes, letters, or personal meetings, such as lunch, entertainment, or otherwise. The State reserves the right to reject the response of any Bank violating this provision. III. State's Rights 1. State's Rights to Request Additional Information - Bank Responsibility Prior to an award, Clayton State University must be assured that the selected bank has all of the resources to successfully perform under the contract. This includes, but not limited to, adequate number of personnel with required skills, financial resources sufficient to complete performance under the contract, and experience in similar endeavors. If, during the evaluation process, CSU is unable to assure itself of the bank's ability to perform, if awarded, the University has the option of requesting from the Bank any information deemed necessary to determine the Bank's responsibility. If such information is required, the bank will be notified and permitted approximately five (5) business days to submit the information requested. 2. Failing to Comply with Submission Instructions Responses received after the identified due date and time or submitted by any other means than those expressly permitted by the RFP will not be considered. Responses must be complete in all respects, as required in each section of this RFP. 5

6 3. Rejection of Responses; State's Right to Waive Immaterial Deviation Clayton State University reserves the right to reject any or all responses, to waive any irregularity or informality in a response, and to accept or reject any item or combination of items, that would be to the advantage of CSU and the State of Georgia. It is also within the right of Clayton State University to reject responses that do not contain all elements and information requested in this RFP. A response will be rejected if the response contains any defect or irregularity and such defect or irregularity constitutes a material deviation from the RFP requirements, which determination will be made by CSU on a case-by-case basis. 4. State's Right to Amend and/or Cancel the RFP Clayton State University reserves the right to amend this RFP. Any revisions must be made in writing prior to the RFP closing date and time. By submitting a response, the Bank shall be deemed to have accepted all terms and agreed to all requirements of the RFP (including any amendments/revisions/additions made in writing prior to the close of the RFP whether or not such revision occurred prior to the time the Bank submitted its response) unless expressly stated otherwise in the Bank's response. Therefore, each Bank is individually responsible for reviewing the revised RFP and making any necessary or appropriate changes and/or additions to the Bank's response prior to the close of the RFP. Banks are encouraged to frequently check the RFP for additional information. Finally, CSU reserves the right to cancel this RFP at any time. 6

7 IV. CSU Banking Information CSU maintains two bank accounts, one operating and one payroll account. Together, the two accounts function as an integrated cash management system, whereby CSU s net investment position is determined daily and automatic investments are made for excess funds. CSU anticipates a 1% to 3% increase in the number of average monthly transactions over the next five (5) years. 1. Operating Account The operating account is used for the majority of CSU s banking transactions, as illustrated in Table 1 and Chart 1 below. This account functions as a concentrated and controlled disbursement account. Most of the University's funds are held in this account during the month and moved into the other accounts as needed. This account is a holding account for transfers to and from other accounts, as well as being the primary Accounts Payable account. Balances will be fully invested daily. Activity in this account will include receipts from various revenue sources, distributions to other accounts, AP checks, wire transfers, and ACH transactions. All activities should be accessible online. Table 1 Estimated Average Monthly Transactions-Operating Type Quantity Checks 500 Deposits 250 Wires In/Out 100 EFT/ACH 400 Transactions Total 1,250 Transactions NOTE: Excludes Merchant Service transactions Chart 1 Average Monthly Account Balance Operating $25,000, $20,000, $15,000, $10,000, $5,000, $ Twelve-month average: $14,286,

8 2. Payroll Account The Payroll Account, with average transactions illustrated in Table 2 and Chart 2 below, is used primarily for transfers from the Operating to the Payroll account, to fund incoming and outgoing transactions related to two (2) bi-weekly and one monthly payroll. This is a separate demand account and is to be funded by Zero Balance Account transfers from the Operating Account. The cost of providing services to the Payroll Account should be included with the Operating Account; i.e., the account analysis should be performed on both accounts. Table 2 Estimated Average Monthly Transactions-Payroll Payroll Quantity 1 st Bi-Weekly 432 2nd Bi-Weekly 432 Monthly 700 Total Transactions 1,564 CSU currently employs 1,132 faculty and staff, and anticipates a staffing increase less than 1% over the next five (5) years. Chart 2 Average Monthly Account Balance Payroll $142, $140, $138, $136, $134, $132, $130, $128, $126, Twelve-month average: $136, CSU anticipates a 1% to 3% increase in the average monthly account balance over the next five (5) years. 8

9 V. Institutional Qualifications of Bank Maintain a full-service branch office with 15 miles of Morrow, GA Be an experienced provider of data processing capabilities Demonstrate, if requested, experience servicing similar public sector/higher education customers with similar banking structures and transaction volumes Offer comprehensive investment advisory services and day-to-day banking services Meet State Depository rules or FDIC guidelines as follows: o Meet State Depository rules as a financially stable institution, including: Tier 1 leverage ratio of 6% or greater Return on Average Assets of 0.0% or greater, and Rating by Thomson Reuters of 35 or greater, or equivalent rating from other similar service o Meet FDIC guidelines as codified in the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) for well-capitalized institutions, including: Tier 1 leverage ratio of 5% or greater Tier 1 risk-based capital ratio of 6% or greater Total risk-based capital of 10% or greater, and No specific capital level requirements for any capital measure Meet State Depository requirements for collateralizing deposit balances in excess of FDIC insurance, using the dedicated collateralization method and pledged securities in the custody of a third-party Comply with Georgia Office of the State Treasurer (OST) guidelines, requiring banking institutions to offer their services to CSU at fee rates not to exceed those of any other University System of Georgia institution or unit of Georgia State government Offer all services listed in the attached Schedules Waive any requirements for Hold Harmless agreements, which are prohibited. Agree to maintain the quoted fee schedule for two (2) years and ECR for one (1) year Support of the IRS Electronic Federal Tax Payment System (EFTPS) 9

10 VI. Institutional Requirements In this section, the RFP details the banking services that are to be provided and performed on a contractual basis. It is the intent of the University to have a single bank provide all banking services specified within this RFP. We are requesting a Cash Management system whereby we utilize bank services to monitor bank activity and initiate transactions while operating efficiently and maximizing earning potential. The Bank must provide the capability to electronically transfer funds from the General Operating Account to the Payroll Account, as well as to properly transfer payroll taxes, health and dental insurance premiums, etc. as required. The Bank must provide for the automated processing of State of Georgia appropriations into the General Operating Fund via the Automated Clearing House (ACH) and the receipt of information utilizing direct electronic transmission via data/phone lines using Bank-provided software. State appropriations are typically received once each month, with Title IV and Department of Education funds received periodically. Funds must also be available to be received into the Perkins account via the ACH using bank-provided software. The Bank must provide for pre-notes up to a period of one month in the Payroll Account. Monthly bank statements o The monthly statement shall include clear images of all canceled checks (front and back) on CD-ROM or DVD. Original canceled checks are not to be returned to University. The Bank shall provide software or equivalent online accessibility for searching, viewing, and printing check images from the CD-ROM Balance Reporting/Transaction Services o The Bank must provide an online information and reporting system giving appropriate University personnel access to accounts to enable the monitoring of available balances, review of debits and credits, examination of monthly account activity, execution of wire transfers, stop payments, and other applicable services. Specific information which must be available includes - but is not limited to - Previous and Current Day Transaction Detail and Balance Information as well as ACH Credit Transaction Detail o Any special software or equipment required (other than a PC with Internet connectivity) shall be provided by the Bank. The Bank must provide adequate onsite training and support on the system for University personnel as needed at no additional cost 10

11 Monthly account analysis statements o Average Positive Ledger Balance o Average Ledger Balance o Average Float o Average Collected Balance o Required Reserves o Average Available Balance o Earnings Allowance Credit Rate o Earnings of Average Available Balance o Transaction Volumes o Transaction Amounts o Total Activity o Compensating Balance Requirement (only if there are fee charges) Monthly debit for service charges Monthly credit for interest earned, compounded daily Positive Pay functionality, interfaced from PeopleSoft One (1) on-campus ATM (Morrow Campus) at no charge to CSU or ATM users who have an account at your depository institution o The only expense for University will relate to electrical power necessary to operate the ATM(S). Bank will pay for ongoing telephone circuit expenses and all supplies required o The ATM will be serviced weekly to restock cash and supplies. Electronic monitoring will be performed throughout the day to detect any malfunctions or cash outages o Any periodic maintenance needed will be provided by Bank. o There will be no liability to University for the operation of the ATM(s) o ATM will be relocated at the direction and consent of University ECR rate that provides earnings credit on deposits sufficient to cover monthly service fees to the extent possible Competitive interest rates on certificates of deposits Competitive fixed and variable rates for banking services Direct deposit of payroll checks to employees 11

12 Designation of an account manager, who will be a single source point of contact for problem resolution Designation of a technical support representative, who will be a single source point of contact for technical issues Electronic PeopleSoft-compatible bank statement reconciliation files Online services, including o Alert s and mailbox o User account management capability o Daily and monthly cash activity reports, statements, interest and balance summaries o Daily reporting of ledger, collected and available balance information o Daily reporting of float, total credit and total debit information o FMV reports on investments o Check imaging services, with data inquiry and copy capability o Copies of documentation related to adjustments on accounts o Electronic check processing with real-time check verification o Stop payment request origination o Wire transfer initiation and authorization with individual approval limits Electronic check conversion services, transforming paper checks at CSU s points of sale to electronic checks Timely electronic delivery of returned items with detailed explanations Free (e.g., no charge to payee) check cashing services to CSU payees Immediate credit on all inbound wire transfers in and U.S. Treasury checks Standard and customary depository services, including processing debit and credit items, ACH items, wires, stop payments, returned items, and night depository services Checking accounts and ATM cards for all students meeting minimum bank criteria, preferably at no cost to students employed by CSU, and at little or no cost to non-employee students Favorable banking references from three higher education customers in Georgia, preferably other University System of Georgia institutions VII. Response Terms and Conditions All proposals must include answers to the Mandatory Questions, Mandatory Scored Questions, the Banking Fees Proposal, and the Bank Compensation Proposal CSU reserves the right to reject any and all responses Detail your Bank's experience in providing depository and cash management services to technical universities of a similar size and scope to ours 12

13 Describe your Bank's use of technology in providing depository and cash management services to technical universities of a similar size and scope to ours Demonstrate that you have the operations and technical support staffs with sufficient experience to provide processing and hardware and software support for our banking service requirements Identify the person or persons who will be assigned to our University if you are successful in your bid. Also provide contact information and biographies Provide the names and contact information for three other similar clients that currently have similar banking agreements in place with your banking institutions Provide a list of branch locations and ATM locations on or near the vicinity of our campus. CSU assumes no cost of respondents in preparation of their response CSU will allow termination by either party, provided written notice is given by certified mail to the proposal contact named herein, at least one hundred and twenty (120) calendar days prior to the desired termination date 1. Other Requirements Provide a sample agreement for depository accounts, cash management services, and any other offered services. Include approximate time for installing ATMs, if needed Bank must keep beneficiary information secure and private from other services outside of this RFP University prefers to award this RFP to one Bank. However, existing banking provisions at individual University locations may prevent one vendor from being awarded the entire RFP initially. Therefore, more than one Bank may be designated by University VIII. Pricing Detailed responses to the individual items on the Bank Fee Proposal", Exhibit A1 and Exhibit A2. Additional or support account services may be discussed if desired. The prices for each service should be listed here Detailed response to the individual items on the "Bank Compensation Proposal", Exhibit B1 and Exhibit B2. Please include full information on the proposed interest to be paid on balances and the proposed earnings credit rate to be offered in lieu of interest paid 13

14 IX. Evaluation of Proposals Questions and Answers Please submit all questions in connection with the RFP to Marcia Jones, Issuing Officer, on or before 2:00 P.M. on May 23, The University will respond in writing to all questions and post to the Georgia Procurement Registry as an Addendum on or before 2:00 P.M. on May 31, X. Submission of Proposal Submit one (1) original + four (4) copies and (1) CD-ROM copy of your proposal to the CSU Issuing Officer via hand-delivery, mail or courier. Mark the outside of the shipping package as follows: Name of Company/Bank Contact Person and Phone Number RFP# Please submit final proposals in response to this request to Marcia Jones, Issuing Officer, on or before 4:00 P.M. on June 14, All proposals will be time stamped by Clayton State University upon receipt. Proposals received after the due date and time will not be evaluated. All hand-delivered packages must be delivered to Marcia Jones at the following address: Clayton State University (East) Woodlands Hall First Floor, Room Trammell Rd Morrow, GA All packages mailed by USPS or Express/expedited mail must be delivered to Marcia Jones at the following address: Clayton State University Attn: Marcia Jones 2000 Clayton State Blvd Morrow, Georgia

15 XI. Evaluation and Selection of Bank s Proposal The CSU Evaluation team will review each proposal in detail to determine its compliance with the mandatory RFP requirements. Responses to Mandatory questions will be evaluated on a pass/fail basis. All proposals are sent to the Office of the State Treasurer (OST) for further evaluation. Clayton State University will be provided an evaluation report from OST. The University may select its bank from the three (3) lowest cost providers. 1. Oral Presentations Clayton State University reserves the right to invite Banks to present their proposal to the Evaluation Team. Cost proposals and related cost information must not be discussed during the oral presentation of the Bank s technical solution. XII. Contract Terms, Conditions, and Award 1. Term of Contract The initial contract will be for a period of three (3) years with the option of two (2) renewal periods of one (1) year each. In the event that the contract(s), if any, resulting from the award of this RFP shall terminate or be likely to terminate prior to the making of an award for a new contract for the identified products and/or services, the State may, with the written consent of the awarded Bank(s), extend the contract(s) for such period of time as may be necessary to permit the State s continued supply of the identified products and/or services. The contract(s) may be amended in writing from time to time by mutual written consent of the parties. 2. Contract Award The contract that the University expects to award as a result of this RFP will be based upon the RFP, the successful Bank s final response as accepted by the Office of the State Treasurer, State Depository Board and the University and the contract terms and conditions. The successful Bank s final response as accepted by the State shall mean: the final cost and technical proposals submitted by the awarded Bank and any subsequent revisions to the awarded Bank s cost and technical proposals and the contract terms and conditions due to negotiations, written clarifications or changes made in accordance with the provisions of the RFP, and any other terms deemed necessary by the State, except that no objection or amendment by the Bank to the RFP requirements 15

16 or the contract terms and conditions shall be incorporated by reference into the contract unless the State has explicitly accepted the Bank s objection or amendment in writing. Please review the State s contract terms and conditions prior to submitting a response to this RFP. Banks should plan on the contract terms and conditions contained in this RFP being included in any award as a result of this RFP. Therefore, all costs associated with complying with these requirements should be included in any pricing quoted by the Banks. The contract terms and conditions may be supplemented or revised before contract execution and are provided to enable Banks to better evaluate the costs associated with the RFP and the potential resulting contract. 3. Exceptions to Contract By submitting a proposal, each Bank acknowledges its acceptance of the RFP specifications and the contract terms and conditions without change except as otherwise expressly stated in the submitted proposal. If a Bank takes exception to a contract provision, the Bank must state the reason for the exception and state the specific contract language it proposes to include in place of the provision. Any exceptions to the contract must be submitted as an attachment to the Bank s response. Proposed exceptions must not conflict with or attempt to preempt mandatory requirements specified in the RFP. 4. Contract Negotiation In the event the Bank is selected for potential award, the Bank will be required to enter into discussions with the State to resolve any contractual differences before an award is made. These discussions are to be finalized and all exceptions resolved within the period of time identified in the schedule of events. Failure to resolve any contractual issues will lead to rejection of the Bank. The State reserves the right to proceed to discussions with the next best ranked Bank. The State reserves the right to modify the contract to be consistent with the apparent successful offer, and to negotiate other modifications with the apparent successful Bank. Exceptions that materially change the terms or the requirements of the RFP may be deemed non-responsive by the State, in its sole discretion, and rejected. Contract exceptions which grant the Bank an impermissible competitive advantage, as determined by the State, in its sole discretion, will be rejected. If there is any question whether a particular contract exception would be permissible, the Bank is strongly encouraged to inquire via written question submitted to the Issuing Officer prior to the deadline for submitting written questions as defined by the Schedule of Events. 16