REQUEST FOR PROPOSAL FOR DEPOSITORY AND BANKING SERVICES

Transcription

1 s 455 Fox Trail, Omro, WI Home of the Bret Steffen Paul Williams Dave Wellhoefer Nick Curran Principal Principal Principal Superintendent of High School Middle School Elementary School Business Operations REQUEST FOR PROPOSAL FOR DEPOSITORY AND BANKING SERVICES INSTRUCTIONS TO BIDDERS General Instructions The is accepting proposals for banking services and investment account(s). The District proposes that these services be awarded beginning July 1, Proposals may be submitted for any or all of the accounts listed. A separate proposal sheet must be completed for each account. If you do not wish to submit a proposal for a specific account or accounts, please write no proposal on the top of the proposal form and submit it with your completed proposal. Submission of Proposal Submit two copies of the proposal, clearly marked RFP RESPONSE BANKING SERVICES addressed to: Attn: Nick Curran, Superintendent of Business Operations 455 Fox Trail Omro, WI Proposals must be received by 3:00 PM on Friday, February 3, Late submissions will not be accepted and will be immediately destroyed. Contract Award It is anticipated that the District will review all proposals in February and the School Board will take action if they desire to do so during the month of March. The reserves the right to accept or reject any or all proposals and to accept the proposal or combination of proposals that it deems most advantageous to the District. SERVICE REQUIREMENTS District Requirements 1. Account statements shall state the date of each deposit and the amount. 2. Bank statements shall be cycled after processing on the last business day of the month and be available to the District no later than the second business day of the following month. Statements must list checks in numerical order. Cancelled checks or imaged statements must be returned to the District in numerical order (either electronically or through the U.S. mail).

2 3. Protection beyond the $500,000 F.D.I.C. and state insurance must be provided in accordance with the provisions of Chapter 34 of the Wisconsin State Statutes and Board Policy. 4. Compliance with all other applicable State and Federal Statutes is required. 5. The District will be offered any new investment or management procedure that may occur. 6. All fees and other charges for each account must be identified. 7. The bank shall have assigned personnel available to answer questions pertaining to the District s transactions which require more explanation. In addition, the bank shall provide the name and direct telephone number of the bank officer with the overall management responsibility for the account relationship. 8. The bank shall provide the District with deposit bags for daily deposits. 9. Bank Branch Location The bank accounts are to be maintained at a branch in the City of Omro offering a full range of services and within a reasonable distance from the District. Please provide the location of the branch you are proposing as the s main branch. ACCOUNT INFORMATION Please submit proposals for any or all of the following accounts Payroll Checking Account A. This account will be used to meet the payroll needs of the District with money deposited on an as needed basis. B. The bank must have the capability to originate ACH transactions. C. The bank must accept electronic payroll files.. General Checking Account A. This account will be used to deposit miscellaneous revenue on a daily basis. B. Checks for the District s accounts payable transactions are written from this account. C. The bank must have the capability to originate ACH transactions. High School Student Activity Checking Account A. This account will be used for depositing all monies in the High School Student Activity Funds. B. All checks for the High School Student Activity Fund expenses would be written from this account on a weekly basis. 2

3 Middle School Student Activity Checking Account A. This account will be used for depositing all monies in the Middle School Student Activity Funds. B. All checks for the Middle School Student Activity Fund expenses would be written from this account on a weekly basis. High School Student Activity Savings Account A. This account will be used as an investment/savings account for all High School Student Activity Funds not needed in the checking account. Scholarship Savings Account A. This account will be used as an investment/savings account for all scholarship funds under control of the District. Deposits will be made as needed. Scholarship Investment CD A. A flexible investment CD should be available for funds not immediately needed in the Scholarship Savings Account. The District has had no trouble maintaining a 6 month CD in the past, however, there should be flexibility to open the CD early in the event funds are needed for scholarship payments. Debt Services Saving Accounts A. This account will be used as an investment/savings account for all funds related to debt service tax payments. Depository/Investment Account A. This account would receive incoming wires from the Department of Public Instruction for equalization aid, categorical aid, and grant payments as well as monies received from other sources (such as property taxes) which are not immediately needed for expenditures. B. Money would be wired and/or transferred out on an as needed basis. Money may also be invested in other accounts for investment purposes. C. It is acceptable to combine Depository/Investment and General Accounts. Fund 21 Donation Saving Accounts A. This account will be used as an investment/savings account for all funds related to Fund 21 donations to the District. 3

4 1. GENERAL INFORMATION: DEPOSITORY AND BANKING SERVICES PROPOSAL Name of Bank Branch Location Date Bank Contact Title Telephone # Signature 2. Statement of how protection beyond $500,000 F.D.I.C. and State insurance will be provided. 3. Does your institution provide Internet banking services? Yes No (Circle) Are on-line transfers available? Yes No (Circle) Additional Information: Provide detail regarding any fees associated with these services: (List any additional information/charges on an attached sheet) 4. Please submit a proposal form for each account. If you are not interested in providing services for a specific account or accounts, please write no proposal on the top of the proposal form for that account and submit it with your completed proposal. 5. In addition to completely the enclosed proposal sheets you are encourage to provide further information for any additional services your bank offers that maybe beneficial to the District. 6. ALL FEES CHARGABLE TO THE DISTRICT ASSOCIATED WITH THE BANKING SERVICES THE DISTRICT RECEIVES MUST BE DOCUMENTED IN YOUR PROPOSAL. 7. Should you have any questions or concerns please contact Nick Curran at x301. 4

5 PROPOSAL FOR PAYROLL CHECKING ACCOUNT Charge per check written Charge for deposited check returned # of times check is deposited If more than 1, charge for redeposit? Stop payment fee Check sequencing fee (if check are returned) Capable of originating ACH transactions? Yes No (Please Circle) ACH Related Fees: Per File Per Item Other Accept ACH files via ? Yes No (Please Circle) Interest to be paid % Describe the manner in which interest earnings on this account will be calculated: 5

6 PROPOSAL FOR GENERAL CHECKING ACCOUNT Charge per check written Charge for deposited check returned # of times check is deposited If more than 1, charge for redeposit? Stop payment fee Check sequencing fee (if checks are returned) Interest to be paid % Describe the manner in which interest earnings on this account will be calculated: 6

7 PROPOSAL FOR HIGH SCHOOL STUDENT ACTIVITY CHECKING ACCOUNT Charge per check written Charge for deposited check returned # of times check is deposited If more than 1, charge for redeposit? Stop payment fee Check sequencing fee (if checks are returned) Interest to be paid % Describe the manner in which interest earnings on this account will be calculated: 7

8 PROPOSAL FOR MIDDLE SCHOOL STUDENT ACTIVITY CHECKING ACCOUNT Charge per check written Charge for deposited check returned # of times check is deposited If more than 1, charge for redeposit? Stop payment fee Check sequencing fee (if checks are returned) Interest to be paid % Describe the manner in which interest earnings on this account will be calculated: 8

9 PROPOSAL FOR HIGH SCHOOL STUDENT ACTIVITY SAVINGS ACCOUNT Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below: What is the cutoff time for deposits, wires,.. Type of investment for indexing funds Basis to be used Percent to be paid % Describe, in detail, the manner in which interest earnings will be calculated: 9

10 PROPOSAL FOR SCHOLARSHIP SAVINGS ACCOUNT Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below: What is the cutoff time for deposits, wires,.. Type of investment for indexing funds Basis to be used Percent to be paid % Describe, in detail, the manner in which interest earnings will be calculated: 10

11 PROPOSAL FOR SCHOLARSHIP INVESTMENT CD Terms to be used Percent to be paid % Describe, in detail, the manner in which interest earnings will be calculated: 11

12 PROPOSAL FOR DEBT SERVICES SAVINGS ACCOUNT Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below: What is the cutoff time for deposits, wires,.. Type of investment for indexing funds Basis to be used Percent to be paid % Describe, in detail, the manner in which interest earnings will be calculated: 12

13 PROPOSAL FOR DEPOSITORY/INVESTMENT ACCOUNT Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below: What is the cutoff time for deposits, wires,.. Type of investment for indexing funds Basis to be used Percent to be paid % Describe, in detail, the manner in which interest earnings will be calculated: 13

14 PROPOSAL FOR FUND 21 DONATION SAVINGS ACCOUNT Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below: What is the cutoff time for deposits, wires,.. Type of investment for indexing funds Basis to be used Percent to be paid % Describe, in detail, the manner in which interest earnings will be calculated: 14