Request for Proposals. Banking and Investment Portfolio Management Services

Transcription

1 ATLANTA PUBLIC SCHOOLS Procurement Services 130 Trinity Avenue, S.W. 4 th Floor Atlanta, Georgia Request for Proposals For September 27, 2013 RFP Number: Due Date: October 22, 2013 Time Due: 11:00 a.m. ET NIGP Commodity Code(s): ,

2 NOTICE TO PROPOSER: Atlanta Public Schools ADVERTISEMENT FOR REQUEST FOR PROPOSALS Atlanta Public Schools invites qualified vendors to submit a proposal to provide banking and investment portfolio management services. Outstanding solicitations may be viewed at: Offerors should read the general terms and conditions at: If you are unable to download these documents, you may contact the assigned Procurement Officer: David Odom at (404) or dodom@atlantapublicschools.us A pre-proposal conference will be held on October 9, 2013 at 11:00 a.m. ET at 130 Trinity Avenue, Atlanta, GA 30303, room 4, 2 nd floor. Attendance is not mandatory but is strongly encouraged. Proposals shall be accepted in the Office of Procurement Services of the Atlanta Public Schools, 130 Trinity Ave. S.W., 4 th Floor Atlanta, Georgia up to 11:00 a.m. ET on October 22, 2013 (as determined by the time stamp clock in the APS Department of Procurement Services). Proposals delivered prior to the proposal close date and time can be received during normal business hours (between 8:30 a.m. ET and 5:00 p.m. ET) only. Deliveries attempted by any method (including mail, express courier, or in person) before 8:30 a.m. ET or after 11:00 a.m. ET on the date due CANNOT be accepted; therefore, we suggest that you submit proposals well in advance of the date and time due. To ensure proper and timely routing of your proposal, packages shall be addressed to the attention of the assigned procurement officer indicated in the solicitation. ATLANTA PUBLIC SCHOOLS Randall Sellers Director, Procurement Services TENTATIVE TIMELINE September 27, 2013 October 9, 2013 October 10, 2013 October 14, 2013 October 22, 2013 October 23, 2013 October 28, 2013 December 2, 2013 Release RFP to the marketplace Pre-proposal conference, 11:00 a.m. ET Deadline for written questions, 11:00 a.m. ET Response to questions to be posted to the APS website RFP due in Procurement Services by 11:00 a.m. ET Administrative Review Evaluation Recommendations to the APS Board of Education. 2

3 TABLE OF CONTENTS Scope of Work pg. 4 Non Submittal Response Form pg. 18 Offeror Affirmation Form pg. 19 Offeror Information Form pg. 20 Joint Venture Affidavit pg. 21 Primary Vendor / Subcontractor Utilization pg. 24 Promise of Non-Discrimination pg. 25 Contractor Affidavit of Compliance under O.C.G.A (b) (1) pg. 26 Subcontractor Affidavit of Compliance under O.C.G.A (b) (3) pg. 27 Sub-subcontractor Affidavit of Compliance under O.C.G.A (b) (4) pg. 28 Affidavit of Exception pg. 29 Local Preference pg. 30 Solicitation Checklist pg. 31 Sealed Bid Label pg. 32 Vendor Requirements Form Price Proposal Form (miscellaneous services) separate Excel spreadsheet separate Excel spreadsheet 3

4 1.0 PURPOSE 1.1 The Atlanta Independent School System (hereinafter, Atlanta Public Schools or APS ) is requesting qualified vendors to submit a proposal to provide banking and investment portfolio management services. 1.2 In using this method for solicitation, we are requesting your best effort in seeking the best value for our requirements. To be eligible for consideration, sealed proposals shall be presented in accordance with the instructions of this solicitation and within the timeframe specified. It shall be the responsibility of the selected Offeror to meet all specifications and guidelines set forth herein. Atlanta Public Schools, at its discretion, determines the criteria and process whereby proposals are evaluated and awarded. No damages shall be recoverable by any challenger as a result of these determinations or decisions by Atlanta Public Schools. 2.0 CURRENT SITUATION BANKING SERVICES 2.1 The Banking and Investment Management Portfolio Services contracts expire June 25, APS has a 2014 fiscal year General Fund operating budget of $595 million. 2.3 APS has approximately 8,000 employees that are paid on the 15 th and last day of each month. The Payroll account is a zero balance account funded by a master account. APS has implemented paperless checks for payroll. All employees are paid by direct deposit. The current bank account structure consists of one zero balance account, a controlled disbursement account, a master concentration general operating account and 2 additional disbursement accounts. In addition, each school (96) also maintains independent checking accounts. 2.4 APS issues approximately 3,000 checks monthly to vendors and other entities through electronic check processing. Positive pay and account reconciliation services are utilized for all operating accounts. Online and Web based services are used to manage daily activity, including, but not limited to, information reporting, wire transfers, ACH payments, stop payment transactions and system administration. School accounts do not utilize positive pay services. 2.5 APS utilizes remote deposit capture services to aggregate and deposit check collections. An armored car service provider picks up cash deposits from each school and delivers the funds to the bank s money center for deposit into each school s account. APS will continue to utilize its armored car service provider for school collections. 2.6 APS receives positive pay notification to designated addresses. APS receives electronic notification to designated addresses. CURRENT SITUATION INVESTMENT PORTFOLIO MANAGEMENT SERVICES 2.7 Investment Portfolio Management a. The Investment Portfolio is managed in accordance to APS Board of Education Investment Earnings Policy and Regulations. The primary objectives are: 1. ensure adequate liquidity for the school district to meet its financial obligations 2. minimize the risk of capital loss 3. achieve highest possible rate of return b. Assets under management will include two distinct pools of money; (1) the investment account of the General Fund and (2) the investment account of the Special Local Option Sales Tax (SPLOST) fund. c. Fund performance is benchmarked to the Georgia Fund One. d. The Investment Policy can be reviewed by logging on to the URL below: 4

5 &Sch=4004&S=4004&RevNo=1.01&C=D&Z=R 2.8 Atlanta Public Schools Investment Portfolio Ending Balances for Investment Accounts, January 2012 through July 2013: General Fund SPLOST January ,156,654 83,525,854 February ,145,135 83,519,706 March ,152,524 83,527,417 April ,159,797 83,535,265 May ,142,309 83,531,444 June ,145,301 83,540,223 July ,147,091 83,548,934 August ,135,087 83,541,916 September ,137,796 83,551,361 October ,157,197 83,562,109 November ,171,397 83,558,069 December ,190,378 83,570,333. January ,204,197 83,580,452 February ,188,985 83,576,378 March ,197,470 83,587,272 April ,183,287 83,581,772 May ,185,524 83,590,722 June ,187,123 83,599,337 July ,181,167 83,591,797 Note: These amounts are expected to be illustrative of the funds to be under the sole management of the vendor. However, the Board does not warrant that the investment portfolio will equal or exceed these historical amounts. 3.0 SCOPE OF WORK BANKING SERVICES 3.1 APS is seeking a cost effective solution in combining its banking and investment management services with a qualified financial institution. 3.2 Both the banking services and investment portfolio services contracts are expected to be fully implemented by August 15, Proposals should demonstrate the vendor s cost effective and innovative approach to today s banking and investment needs as well as the rapidly changing demands of the future. 3.4 Vendor shall provide the following services: Depository Services a. APS utilizes remote capture for deposit services. b. School accounts receive location deposit details for armored car deposit services. c. Additional services may include coin and currency, prefixed deposit tickets and reporting capability to manage location details, transaction imaging and other related service activities Account Reconciliation and Fraud Control Services a. Check issue file transmissions; 5

6 b. Positive pay and account reconciliation services; c. Electronic file transmission of all paid checks during the month in an acceptable file format to the Information Technology Department of APS for downloading to the Lawson ERP system; d. Electronic files or documents that enable APS to reconcile its accounts on a monthly basis. This shall include, but is not limited to, the following: 1. a cumulative listing of outstanding checks 2. a detail and summary listing of activity by type for each account 3. images and copies of paid checks each month on CD-ROM e. Acknowledgements of transmitted files via ; f. Alternative fraud enhancement services for school accounts not utilizing positive pay services; g. Notification of positive pay dispositions via ; Employee Payroll Services a. Direct deposit of payroll amounts to the designated banks and accounts of employees of APS. b. For employees who do not qualify for a checking account, an account will be provided to allow the employees to receive payroll funds. (There will be no account fees assessed to the employee.) c. Employees will have the ability to access funds and withdraw all balances. d. The vendor shall make available to APS employees additional banking services at no additional charge. e. Vendor must have a retail presence (branch locations) in metro Atlanta Statements and Reports Services a. Monthly statements on all accounts must be available electronically no later than the tenth of the following month. b. Monthly statements shall include transactions through the last business day of the month. c. Statements must include listings of specific checks in check number sequence. d. Daily batch totals will not be acceptable. e. APS requires an electronic account analysis of statement of fees charged and any earnings on compensating balances Online Information Reporting and Money Transfer Services a. A single point-of-entry solution for its banking platform and reporting needs. The selected institution will be required to provide APS with access to online reporting capabilities. b. Features shall include, but are not limited to: 1. Current and previous day activity 2. Ability to initiate, approve, and transmit wire transfers 3. Ability to manage and execute ACH payments 4. Transaction management check images, deposit images 5. Ability to initiate stop payment requests 6. Ability to inquire on check status and print paid checks 7. Positive Pay decisions Bank Administration Institute (BAI) File Services a. Automated daily BAI data downloads in an acceptable APS file format that integrates with the Lawson ERP system. 3.5 Investment Portfolio Management Scope of Services a. The vendor shall open and maintain a trust account in the name of the Atlanta Public Schools and will purchase, hold and exchange approved securities in accordance with the Investment Policy guidelines set forth by the APS Board of Education. 6

7 b. Investment management service providers are expected to keep APS abreast of market conditions and report on performance against agreed upon benchmark on a monthly basis. Additionally, investment advisors generally make oral presentations to the Investment Committee. c. Vendor will provide on-line access to details concerning portfolio holdings and transactions activity on a same day and historic basis and will provide downloadable reports in both Adobe PDF and text formats. d. The record keeping and reporting capabilities of the proposer must be sufficient to meet generally accepted financial control standards. Reporting must also be sufficient to monitor performance and adherence to the investment plan. e. The awarded vendor will report monthly against the financial benchmarks selected by APS. These will include, but not limited to the Georgia Fund 1. f. The vendor shall cooperate with external auditors on interim and annual reviews. As required by the Board s auditors, the proponent shall maintain such records and other measures necessary to insure internal controls. g. Vendor must be able to move funds electronically between accounts, e.g., from the General Operating account to General Fund investment portfolio account and vice versa, also, from SPLOST Funding account to SPLOST Investment portfolio account, etc. 3.6 Account Transition Services a. Vendor shall identify and communicate key components relative to transitioning banking and investment portfolio management services. b. Vendor shall define and organize collaborative efforts steps to assure competency of transition. c. Vendor shall test and validate financial systems integration. d. Vendor shall run parallel systems with existing system during the transition period. 3.7 Optional Services a. Vendor may provide a list of other services for banking, investment portfolio management and safe keeping not included in this solicitation. e.g., credit cards, P-cards, T&E cards, E-payables, Tax Anticipation Notes (TAN), Securities Lending, Private Placements, etc. b. APS reserves the right to determine if the proposed optional services will be used. 3.8 Pricing a. Submit pricing for miscellaneous services on the price proposal form which is a separate Excel spreadsheet. This form must be submitted in a separate sealed envelope labeled pricing. b. Vendor shall submit pricing for other banking services not listed on the price proposal form. c. Vendor shall submit pricing for investment portfolio management services in a separate Excel spreadsheet (see section 3.5). Following is an example of tiered pricing structure or asset-based fee calculated that may be submitted: % (00.0 basis points) on the first $00 million % (00.0 basis points) on the next $00 million % (00.0 basis points) on the next $00 million 4. Minimum Account size $00 million (Fee based criteria to be determined) 5. Minimum Annual Fee $00.00 (Fee based criteria to be determined) 6. Quarterly Billing under a separate cover d. Vendor shall submit pricing for account transition services (see section 3.6). e. Vendor shall submit pricing for optional services (see section 3.7). 4.0 GENERAL INFORMATION: 4.1 All communications regarding this solicitation must be with David Odom, the assigned Procurement Officer for the APS. 4.2 All questions or requests for clarification must be sent by to dodom@atlantapublicschools.us 7

8 4.3 By submitting a response to this request, the offeror accepts the responsibility for downloading, reading and abiding by the terms and conditions set forth in the General Terms and Conditions found on the APS web site at: All addendums related to this solicitation will be posted on the APS website at Quick Links, Procurement, Outstanding Solicitations. It is the offeror s responsibility to check the APS website for any addendums, responses to offeror questions or other communications related to this solicitation. 4.5 Vendor is not required to submit proof of insurance with proposal but must submit within five (5) business days after receiving a letter of intent. The insurance requirements are included in section 7 of the General Terms and Conditions. 4.6 The ACORD certificate of insurance must list Atlanta Public Schools as the additional insured. 4.7 Vendor shall have and maintain during the term of the contract errors and omissions insurance in the amount of not less than $10,000, Vendor agrees that its duty to indemnify, defend and hold harmless the Atlanta Public Schools as set forth in section 10.2 of this RFP shall not be reduced or limited by the insurance provided by the vendor. 4.9 APS reserves the right to conduct interviews or require presentations of any or all vendors who submit a response to this solicitation. APS will not be liable for any costs incurred by the offeror in connection with such interviews/presentations (i.e. travel, accommodations, etc.). 5.0 VENDOR REQUIREMENTS 5.1 APS policy requires that all contractors, consultants, or vendors providing services on APS premises be fingerprinted and submit to a criminal record check initiated by APS prior to providing services to APS. There is a fee of $44.25 per individual payable by money order associated with the background check. The payment of this fee is the sole responsibility of the contractor, consultant, vendor or the employing company. Any contract awarded pursuant to this solicitation is contingent upon compliance with this requirement and a satisfactory background check as determined by APS. 5.2 Use of Subcontractors a. If subcontractors will be used in the performance of this contract, vendor must complete and submit with its response the Primary Vendor/Subcontractor Utilization form. b. Vendor shall not assign any duties to perform services nor to provide goods to APS under this contract to a subcontractor that is not listed in vendor s response to this solicitation. c. If a subcontractor is removed from the contact at any time during the term, vendor must notify APS Procurement Services in writing with name of subcontractor, reason for removal and effective date. d. If vendor desires to add a subcontractor at any time during the term of the contract, vendor must submit to APS Procurement Services in writing the following information on the subcontractor; company name, address, telephone and fax number, service they will be providing and proposed effective date. Subcontractor may not begin providing service until approved by APS. e. Vendor is responsible for ensuring that all subcontractors who provide goods or services under this contract comply with the terms and conditions of the contract. f. Vendor shall give APS immediate notice in writing of any claim, action or suit filed against vendor by any subcontractor. g. APS reserves the right to require that a subcontractor be removed from the contract. 8

9 5.3 Vendor must complete and submit with their proposal the applicable documentation related to Georgia House Bill 87 (commonly known as the Illegal Immigration Reform and Enforcement Act of 2011 ). 5.4 Information on Georgia House Bill 87 may be viewed on the APS web site at: Quick Links Procurement E-verify 5.5 Failure to provide the required Georgia House Bill 87 documentation may result in the offeror s response to the solicitation being deemed non-responsive and ineligible for evaluation. 5.6 The Atlanta Board of Education desires that the Atlanta Public Schools operate in the most ethical and conscientious manner possible. Employees are expected to not only avoid any direct conflict of interest but also to avoid even the appearance of impropriety. In an effort to comply with Board policy and to ensure that our relationship with vendors is above reproach, vendors are prohibited from giving any APS employee any gift, favor, loan, reward, political contribution, gratuity, entertainment, transportation, lodging, or meal except those of nominal value (less than $50.00), which must be disclosed to the immediate supervisor and the Department of Internal Auditing. Advertising items and instructional products that are widely distributed may be accepted. (Refer to Policy GAG and GAJB). 5.7 All contractors and vendors desiring to do business with the APS and/or to participate on APS contracts shall be required to comply with Board policy GAG, Staff Conflict of Interest. All vendors and contractors doing business with the APS shall provide all persons with equal opportunity without regard to race, color, sex, religion, national origin, marital status, sexual orientation, age, or disability. 5.8 The vendor must have experience serving public, government and/or non-profit organizations with similar services as described in this solicitation. 5.9 The vendor must have experience serving customers with similar banking structure and volumes as described in this solicitation The vendor must have experience serving customers whose payroll is generated either by computer tape, disk or on-line data transmission, and is processed through direct deposit The vendor must have the capability of electronic data processing within the metropolitan Atlanta area or within such distance that it can demonstrate its ability to satisfy APS requirements on a timely basis The vendor must maintain an investment portfolio sufficient to collateralize all deposits of the board in excess of FDIC coverage in accordance with Georgia Code , , , and The vendor must have at least $50 billion in fixed income under management The vendor must have at least five years of experience with managing fixed income portfolios The vendor must maintain broker/dealer contacts, both national and local, sufficient to source Investment instruments with maximum value to APS. 9

10 5.16 Vendor must meet the following minimum requirements from Bankrate.com: a. Bankrate Star Rating, minimum 4 Star Rating; b. Predictive Indicators, (+) improve, neutral; c. Composite Summary, sound financial condition; d. Institution Summary, rated sound Vendor must have the following a. A current S&P rating of no less than AA. b. A minimum current Moody s rating of Aa Vendor must complete and submit the vendor requirements form with their proposal. 6.0 SUBMISSION REQUIREMENTS 6.1 Proposals shall be submitted as follows: Section 6.12, Sections 1-5, 1. The original (marked as such) documents and eight (8) hard copies of all documents in a separate sealed envelope labeled sections All hard copies should be submitted on loose leaf paper. 3. All documents saved on four (4) CD-ROMs or Flash Drives. All CD-ROMs/Flash Drives should be labeled with the company name, bid name and bid number. All information on CD- ROMs/Flash Drives should be provided in a single PDF file format. Section 6.12, Section 6, Pricing (see section 3.8) 1. The original (marked as such) price proposal form and three (3) hard copies of the price proposal form and items b 1-6 in a separate sealed envelope labeled pricing. 2. All hard copies should be submitted on loose leaf paper. 6.2 The following required documents must be submitted with your proposal: 1. Offeror affirmation form 2. Offeror information form 3. Joint venture affidavit (if this will not be a joint venture, check the appropriate box on the form and return with your response) 4. Primary vendor / subcontractor utilization (if subcontractors will not be used, check the appropriate box on the form and return with your response) 5. Promise of non-discrimination 6. Contractor Affidavit of Compliance under O.C.G.A (b) (1), if applicable 7. Subcontractor Affidavit of Compliance under O.C.G.A (b) (3), if applicable. 8. Sub-subcontractor Affidavit of Compliance under O.C.G.A (b) (4), if applicable 9. Affidavit of Exception, if applicable. 10. Local Preference Form 11. Copy of Occupation Tax Registration Certificate, (if applicable, refer to section 9 Local Preference) 12. Copy of local or state business license or permit (if firm does not qualify for local preference) 13. Vendor Requirements, separate Excel spreadsheet 14. Vendor service agreement and/or other contract documents 6.3 The required documents should be submitted as follows: 1. The original (marked as such) document and three (3) hard copies of the document in a separate sealed envelope labeled required documents. 2. All hard copies should be submitted on loose leaf paper. 3. All documents saved on three (3) CD-ROMs or Flash Drives. All CD-ROMs/Flash Drives should be labeled with the company name, bid name and bid number. All information on CD- 10

11 ROMs/Flash Drives should be provided in a single PDF file format. 6.4 Proposals, in the format requested in 6.1, 6.2 and 6.3 shall be submitted together in a sealed package with the following information listed on the outside of the package: Full company name RFP name and number RFP due date and time Name of the assigned Procurement officer 6.5 No telephone, electronic or facsimile proposals will be accepted. 6.6 Any proposal received after the designated time and date due will not be considered by APS. 6.7 Proposals cannot be withdrawn after they are delivered to APS unless offeror makes a request in writing to the Director of Procurement Services prior to the time set for receiving bids, or unless the Director of Procurement Services fails to accept or reject the bids within one hundred and twenty (120) days after the date fixed for receiving said proposals. 6.8 Proposals which contain irregularities of any kind and/or do not comply fully with requirements stated in the solicitation documents may be rejected at the discretion of the Director of Procurement Services. APS shall not be liable for any costs associated or incurred by offeror in conjunction with preparation of solicitation responses. 6.9 APS reserves the right to waive any minor informality or error in the solicitation or offerors proposal which will not adversely affect competition By submitting a response the offeror certifies that this proposal is made without prior understanding, agreement or connection with any corporation, company or person submitting a bid for the same service and is in all respects fair and without collusion or fraud; that collusive pricing is understood to be a violation of state and federal law and can result in fines, prison sentences and civil damage awards. It is further agreed that offeror agrees to abide by all conditions of the solicitation, notice of award and/or purchase order(s) of APS and that the person signing this bid is duly authorized to bid on behalf of the offeror Failure to provide the information listed in section 6.4 may result in rejection of the proposal. If further information is required to demonstrate responsibility such as providing copies of licenses or permits (other than those mentioned in 6.2, certificates, etc., the offeror will be notified, in writing and given five (5) days from notification to supply such information Offeror shall submit the following information with the proposal. Offeror must reference each section as listed below. Section 1 Business Profile and Experience A. Introduction a. Provide a brief history and the present organizational structure of the firm that will support APS. b. Provide the name, phone number and address of the individual(s) who will be the firm s primary contact with APS for contract negotiation. c. Provide a list of the addresses for your corporate office and all branch locations in the metropolitan Atlanta area. 11

12 B. Proposed summary of solution and service descriptions, including features and other product based solutions to enhance APS operations Describe how your firm will address and provide the following services: a. Employee Payroll Services 1. Direct deposit services for APS employees. This should include bank account service options for employees without bank accounts. 2. Provide banking services available to APS employees at no additional cost to APS. b. Deposit Services 1. Remote Deposit Capture capabilities and functionality 2. Money Center coins and currency services for school deposits 3. Information reporting capabilities via the web, including, but not limited to transaction imaging features on deposit and return items. c. Account Reconciliation Services d. Fraud Control Services 1. ACH positive pay and/or block control 2. Positive Pay 3. Positive payee services 4. Non-Positive pay alternatives for school accounts 5. Delivery versus payment in securities settlement e. Check Printing and Disbursement Services f. Safekeeping Services 1. Indicate if pledged collateral for APS will be held with a third-party custodian. 2. Provide name of custodial, if applicable, and indicate if separate agreement is required by APS with the custodial bank. g. BAI Reporting Services and File Formats C. Additional Information a. Provide five (5) references from school districts or public agencies for which your firm has provided banking services similar to the requirements in this solicitation. Provide the following for each reference: 1. Name of agency/organization 2. Name of primary contact, telephone number and address. 3. Description of services provided including dates. b. Identify key measures of financial strength (e.g. capital ratios, market capitalization, total assets, etc.) which illustrates that the financial institution has been in business continually under its present name or as part of a merger for the last seven years. A copy of the Audit Report and its financial statements, including Balance Sheets and Statements of Revenue and Expenses, and/or other documentation which demonstrates financial solvency for the last two years. c. Provide in a PDF format the latest Report on the Description of Controls Placed in Operation and Test of Operating Effectiveness, i.e. SAS 70 report, prepared by your external auditors. Section 2 - Technical Capabilities a. Describe your firm s data processing capability. Disclose all pertinent information, including location and time schedule of processing, the capability of providing electronic statements and reports, and electronic files as specified. b. Describe your firm s ability to expand capabilities and provide additional services not currently being requested. c. Describe your firms positive pay procedures and capabilities: include time of information, ability to push down / positive pay notifications. d. Describe report customization requirements and the ability to support BAI file transmissions and integration capabilities with Lawson ERP system. 12

13 e. Provide information on electronic options for monthly bank statements and Account Analysis information. Please include sample copies of statements. f. Describe your firms ACH processing capabilities. g. Describe your firms Web based reporting capabilities. h. Describe your system administration capabilities for all applicable tools and application to support services required by APS. Describe any stand-alone applications and note if system administration and entitlement capabilities for remote deposit services and information reporting tools (i.e., wire transfers, reporting) are integrated and/or operate on different platforms. i. Provide information on your firm s contingency plan to ensure no disruption of services to APS. Section 3 - Customer Service and Quality Control a. Provide a brief description of your customer service and support processes for APS. b. Provide a brief description of your quality control processes including but not limited to: 1. Procedures and conditions for escalation and monitoring status of open issues. And standard response times. 2. Error management and reporting, including schedules or studies regarding error rates for services within the scope of the RFP. c. Provide information on the implementation approach and timelines for a banking and investment portfolio services migrations including: 1. Information on the organizational structure for support services for APS 2. Description of a dedicated support team. 3. Qualifications and experience of personnel that would be directly involved in the delivery, Implementation and/or on-going management support of banking services to APS d. Provide information regarding the frequency of meetings with APS financial staff and your firm s portfolio managers. Section 4 - Investment Portfolio Management Describe how your company will address the following: a. Does your firm have the ability to provide investment purchases and sales on behalf of the Board with in-house personnel? b. Describe your firm s ability to provide investment advisory services to the Board with in-house personnel. c. Describe your firm s fixed income investment management philosophy. d. Describe your firm s experience providing cash flow forecasting and cash management services. e. Within the limits of the Board s Investment Policy, please describe how you would structure the Board s portfolio. f. Describe your firm s research capabilities and resources. g. How does your firm choose the broker with whom you trade? h. Describe your portfolio accounting system and reporting capabilities. i. Does your firm reconcile portfolio with the custodian? How often? j. What types of accounting reports are available to APS? Current reports include, but are not limited to the following: 1. Performance comparison to benchmark 2. Annualized yields by periods 3. Portfolio Compliance Data 4. Duration and WAM 5. Investment types by distribution 6. Market and economic updates 7. Portfolio Holdings 8. Portfolio Holdings by Maturity 13

14 k. Provide the current number of clients, average portfolio size and average duration of similar assets under management by your organization. If possible, provide a list of existing clients. l. Discuss any current relationship between the company and your organization, its parent or affiliates. m. Describe how your firm monitors and responds to regulatory (e.g., FASB, SEC, Federal Reserve) changes that impact short-term investment management. Provide an example based on a recent regulatory change. n. Describe your firm s screening process for ensuring that investments meet the company s investment policy and guidelines. o. What is the process for handling investments that initially comply with company s investment policy but during the investment period fall outside of the company s investment policy? p. How is the firm protected in the event the investment manager makes an investment that initially or at any time during the holding period falls outside the company s investment policy? q. Provide your firm s methodology for managing credit exposure for individual issuers over and above the information provided by the rating agencies. Does your organization have its own, independent credit research team? r. Can your firm access daily investment balances, transactions, and account history? If yes, discuss: 1. The system used; 2. All information available through the system; 3. The time period for which information is retained on the system. s. Can your firm provide detail of all purchases, sales, maturities and interest payments on trade date? By what means (e.g., Internet, , and fax) can this detail be provided to the company? t. Can your firm customize statements and reports into a format specified by APS? u. Discuss all of the steps involved in the implementation process and the estimated timeline if the company transfers a portion of its cash portfolio to your organization for management. v. Can your firm accept transfers of securities in kind? w. Provide copies of all documents that must be signed if the company transfers a portion of its cash portfolio to your organization for management. x. What is the average lead-time for opening an account? What are the critical factors that might impact the lead time? Section 5 Account Transition Provide the following information related to the account transition: a. A list of individuals who will serve on the transition project team and specify their roles and responsibilities. b. The data and resources APS will be expected to provide during the transition. c. A detailed list and timeline of the support activities, tasks and reports that will need to be completed by APS. d. A detailed list and timeline of the support activities, tasks and reports that will need to be completed by APS current bank. e. A detailed list and timeline of the support activities, tasks and reports that will need to be completed by offeror. f. A schedule and flowchart(s) showing the steps and describing how the transition will be accomplished. g. Describe potential problems/issues the offer might reasonably expect and their approach for resolving the problem/issue h. Describe the training that will be provided to APS. Section 6 Pricing f. Submit pricing for miscellaneous services on the price proposal form which is a separate Excel spreadsheet. This form must be submitted in a separate sealed envelope labeled pricing. g. On a separate sheet(s), submit pricing for other banking services not listed on the price proposal 14

15 form referenced in item a. h. On a separate sheet(s), submit pricing for investment portfolio management services including but not limited to: 1. Describe the fees for each recommended investment alternative, how they are calculated and enumerate all applicable advisory charges for portfolio management (exclude custodial fees). 2. Indicate (yes or no) if your firm will accept a performance based fee that depends on whether investment objectives were met? If yes, provide details. 3. What is the additional fee if any your firm uses your organization s custodial services? 4. Indicate (yes or no) if your fee can be either be debited from the company s account or paid after invoiced? 5. Provide a sample bill showing the level of detail that will be provided. i. On a separate sheet(s), submit pricing for account transition services (see section 3.6). Include a description and other relevant information. j. On a separate sheet(s), submit pricing for optional services (see section 3.7). Include a description of the service, frequency and other relevant information. 7.0 EVALUATION 7.1 To be eligible for consideration, proposals shall be presented in accordance with the instructions of this solicitation and within the timeframe specified. It shall be the responsibility of the awarded vendor to meet all specifications and guidelines set forth herein. 7.2 An APS evaluation committee will evaluate each proposal properly submitted. APS, at its sole discretion, determines the criteria and process whereby proposals are evaluated and awarded. No damages shall be recoverable by any challenger as a result of the determinations or decisions by APS. 7.3 APS reserves the right during the evaluation process to contact offerors who submit proposals and request additional information or clarification necessary to complete the evaluation. 7.4 After the closing date and time, Procurement Services will conduct an administrative review of all proposals received to determine responsiveness. Proposals that are deemed to be responsive will be submitted to the evaluation committee for review. Proposals that are deemed to be non-responsive will not be evaluated or considered for award. 7.5 Although proposals that do not contain pricing information will not be considered for an award, Atlanta Public Schools reserves the right to evaluate proposals on the non-price related criteria only. Proposals that do not meet at least 70% of the non-price criteria may not have price evaluated as a criterion. 7.6 APS will evaluate all proposals and reserves the right to develop a competitive range. The competitive range is defined as a group for competitive negotiation, as determined during the evaluation process, composed of only those proposals that are considered to have a reasonable chance of being selected for an award and who are, therefore, chosen for additional discussions and negotiations. Proposals not in the competitive range are given no further consideration. 7.7 The formula used to evaluate price is as follows: (Lowest price / price of proposal being evaluated) x points available for price = score 7.8 Proposals will be evaluated on the following criteria: Business profile and experience Technical capabilities Customer service and quality control 15

16 Investment management Account transition Price 7.9 APS reserves the right to request a best and final offer (BAFO) from offerors during the evaluation process APS reserves the right to negotiate price and/or non-price terms and conditions with selected vendor(s) APS reserves the right to negotiate price and/or scope of work terms and conditions with selected vendor(s) APS reserves the right to negotiate terms and conditions, which may be necessary or appropriate to meet the needs of the district Negotiations may be: a. Concurrent which may be conducted concurrently with multiple offerors or; b. Exclusive which may be conducted with the offeror whose proposal is the overall highest rated Exceeding Available Funds In the event the pricing submitted by (a vendor or vendors) exceeds available funds, APS reserves the right to negotiate an adjustment of price with the (vendor or vendors.) 8.0 AWARD 8.1 Please be advised that it is the policy of the Atlanta Public Schools that all contracts be awarded without regard to the race, color, sex, religion, national origin, marital status, sexual orientation, age, or disability of the offeror. 8.2 This contract shall be for one (1) base term (of one year or less) with four (4) one-year options to renew at the sole discretion of the Superintendent of APS. The contract will be conditional upon the offeror s ability to comply with requirements set forth in the solicitation documents. 8.3 APS has selected as its owner s representative, the Chief Financial Officer. Supervision of the contract will be performed by the owner s representative or his/her designee. 8.4 Offeror shall not provide goods or services until a purchase order has been issued by APS s Procurement Services Department. 8.5 The original and one (1) copy of itemized invoices must be submitted to: Atlanta Public Schools Accounts Payable Department P. O. Box 4659 Atlanta, GA Invoices a. Invoices must include the APS purchase order number and the ship to location where the goods and/or services were delivered that do not include this information will be returned to the vendor. b. Separate invoices are required for each purchase order. c. The accounts payable department may be contacted at Vendor Payment - APS may make payments to vendors via one of the following: a. Automated Clearing House (ACH) b. Check 16

17 c. Purchasing Card Atlanta Public Schools 8.8 At the end of each contract term, the awarded vendor may request a price re-determination. Price redetermination requests must be submitted to the Procurement Services Contract Administrator ninety (90) days prior to the contract term expiration date accompanied by justification of price re-determination. APS may, at its discretion: a. Accept the proposed price re-determination. b. Reject the proposed price re-determination. c. Suggest an alternative price re-determination. 8.9 If APS rejects a proposed price re-determination the awarded vendor may: a. Continue with the existing pricing. b. Suggest an alternative price re-determination. c. End the contract APS reserves the right to reject all proposals when such action is in the best interest of the district Awards will be posted on the APS website at: Quick Links Procurement Contracts Awarded 9.0 LOCAL PREFERENCE 9.1 In order to encourage and promote Atlanta Public Schools contracting opportunities with local businesses, formal solicitation processes may give preference to proposals and bids from local businesses based on the following rules. 9.2 Local preferences are prohibited when federal funds are the source of funding. 9.3 Local businesses that wish to receive preferential consideration shall submit a copy of their Occupation Tax Registration Certificate issued by Clayton, Cobb, DeKalb, Fulton or Gwinnett counties or by a city government located with the five-county metro area (e.g. Atlanta, Decatur, Marietta) covering the last 12 month period to certify qualification or the preference as part of each proposal or response CONTRACT 10.1 Vendor must submit a service agreement and any other contract documents that APS will be asked to execute The Atlanta Public Schools cannot indemnify, hold harmless or pay interest to any entity and is a tax exempt organization. Any document submitted that includes such terms will be deleted. 17

18 NON-SUBMITTAL RESPONSE FORM RFP Name: RFP Number: NOTE TO VENDOR: If your company s response is a non-submittal, the Atlanta Public Schools is very interested in the reason for such response since APS desires to ensure that the procurement process is fair, non-restrictive and attracts maximum participation from interested companies. We therefore, appreciate your responses to this non-submittal response form. Please complete and fax this form to: (404) Please indicate your reason for responding with a non-submittal : Unable to meet the requirements for this solicitation. Unable to provide the goods or services specified in this solicitation Unable to meet time frame established for start and or completion of project. Received too late to submit a bid. Received on: Please remove our company s name from receiving similar type solicitations. Other (Please explain): Your response will be reviewed and placed in the solicitation file. Your input will assist APS in determining changes necessary to increase participation in the solicitation process. Company name Company address ( ) ( ) Company telephone number Company fax number Primary company contact address Authorized company official signature Title Date 18

19 Company Name: Atlanta Public Schools OFFEROR AFFIRMATION FORM (This form must be completed and returned with your response) RFP Name: RFP Number: After careful examination of the solicitation document in its entirety, Banking and Investment Portfolio Management Services, # and any addendum(s) issued, the undersigned proposes to satisfy all requirements in accordance with said documents. For consideration of this proposal, the undersigned hereby affirms that: 1. He/she is a duly authorized official of the offeror, 2. No changes were made to the original RFP document, 3. The proposal is being submitted on behalf of the offeror in accordance with any terms and conditions set forth in this document, 4. The offeror will accept any awards made to it as a result of the proposal submitted herein for a minimum of one hundred and twenty (120) calendar days following the date of submission, 5. The offeror will accept the terms and conditions set forth in the contract template attached hereto. If notified in writing by mail or delivery of the acceptance of the award, the undersigned agrees to furnish and deliver to the assigned Procurement officer within five (5) days of the request, a certificate of insurance indicating the coverages specified within this solicitation. A contract shall be established which will set forth the terms of this agreement. The contract shall be interpreted, construed and given effect in all respects according to the laws of the State of Georgia. Nondiscrimination in Employment: We, the supplier of goods, materials, equipment or services covered by this bid or contract, have not discriminated in the employment, in any way, against any person or persons, or refused to continue the employment of any person or persons on account of their race, color, sex, religion, national origin, marital status, sexual orientation, age, or disability. Respectfully submitted, Company Name Address Authorized Official Name Signature Title Date ( ) ( ) Business Telephone Number Fax Address The full names and addresses of persons and organizations interested in the foregoing Request for Bids as principals of the company are as follows: The legal name of the bidder is: 19

20 OFFEROR INFORMATION FORM (This form must be completed and returned with your response) RFP Name: RFP Number: Full Company Legal Name: Street Address: City, State, Zip Code: Contact Name for Solicitation: Title: Telephone: ( ) Fax: ( ) Contact Name for Contract: Title: Telephone: ( ) Fax: ( ) Contact Name for Purchase Order s: Title: Telephone: ( ) Fax: ( ) Purchase orders may be delivered via or fax. Please indicate your preferred delivery method and provide an address or fax number where they should be sent. Fax ( ) Company Web Site: State of Incorporation: Taxpayer Identification Number: Check one of the following: Independently owned and operated: An Affiliate or Division of: Company Name: Address: Does the company utilize an Affirmative Action Plan for Equal Employment Yes No Opportunity? Has the company implemented a compliance program in accordance with the Yes No Americans with Disabilities Act? Have any conditions or restrictions been placed on this proposal by the company Yes No that would cause it to be declared non-responsive? If recommended for award will company provide proof of insurance as required? Yes No Is the company currently debarred from doing business with any federal, state or Yes No local agency? If yes please provide details and submit on a separate sheet Has the company ever defaulted on a contract or been denied a contract due to Yes No non-ability to perform? If yes please provide details on a separate sheet. Does the company accept payment by credit card? Yes No Is the company registered as a vendor with Atlanta Public Schools? Yes No 20

21 Primary Vendor Name: Atlanta Public Schools If this will not be a joint venture, check this box: JOINT VENTURE AFFIDAVIT (This form must be completed and returned with your response) RFP Name: RFP Number: State of: County of: We, the undersigned, being duly sworn according to law, upon our respective oaths depose and say that: 1. The following named contractors/companies have entered into a joint venture for the purpose of carrying out all the provisions of the Contract for the above named solicitation: Joint Venture Company A Company Name Federal ID No. Address: City: State: Zip: Check all that apply: Sole Proprietorship Partnership Corporation N/A, other Joint Venture Company B Company Name Federal ID No. Address: City: State: Zip: Check all that apply: Sole Proprietorship Partnership Corporation N/A, other 2. The contractors/companies, under whose names we have affixed our respective signatures, have duly authorized and empowered us to execute this Joint Venture Statement in the name of and on behalf of such contractors for the purpose hereinbefore stated. Under the provision of such Joint Venture, the assets of each of the contractors named in Paragraph 1 hereof, and in case any contractor so named above is in partnership, the assets of the individual members of such partnership, will be available for the performance of such Joint Venture and liable therefore and for all obligations incurred in connection therewith. 21