request for proposal (rfp) banking services

REQUEST FOR PROPOSAL (RFP)

BANKING SERVICES

ISSUE DATE: Friday, March 24, 2017 RFP NO.: 100161-FY17-24 PRE-PROPOSAL MEETING: Wednesday, April 5, 2017; 11:00 A.M. QUESTION DEADLINE: Friday, April 7, 2017; 5:00 P.M.

PROPOSAL DUE DATE: Thursday, April 20, 2017; 3:00 P.M.

MAILING ADDRESS: Town of Leesburg Procurement Division

25 W. Market Street Leesburg, VA 20176

CONTACT: Octavia Andrew, CPPO, CPPB, VCO Chief Procurement Officer

Phone: 703-737-7176 Fax: 703-771-2799 E-mail: [email protected]

NOTICE OF ADDENDA: Any addenda to this RFP will be posted on the Town’s Bid Board (http://www.leesburgva.gov/bidboard) and will only be emailed to those firms who have REGISTERED on this site. It is the firm’s responsibility to provide a correct email address and to be aware of any addenda.

mailto:[email protected]

http://www.leesburgva.gov/bidboard

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RFP NO 100161-FY17-24 TABLE OF CONTENTS

I. PURPOSE ............................................................................................................3

II. BACKGROUND .................................................................................................3

III. MINIMUM QUALIFICATIONS ........................................................................6

IV. SCOPE OF WORK ..............................................................................................6

A. Service Group 1: Banking ..............................................................................7

B. Service Group 2: Investment Custodial Services ..........................................14

C. Service Group 3: Retail Lockbox ..................................................................15

D. Service Group 4: Purchasing Card Program .................................................16

V. PROPOSAL SUBMITTAL INSTRUCTIONS ...................................................17

VI. QUESTIONS AND INQUIRIES .........................................................................19

VII. EVALUATION AND AWARD ..........................................................................20

VIII. TERMS AND CONDITIONS .............................................................................22

IX. EXHIBITS AND ATTACHMENTS

Exhibit A – Sample Contract ...............................................................................31

Exhibit B – Sample Merchants Statement (February 2016) ................................40

Exhibit C – Overnight Investment Securities ......................................................52

Exhibit D – Water/Sewer Bill ..............................................................................53

Attachment A - RFP Submission Form ...............................................................54

Attachment B – Service Group Pricing Forms ....................................................55

Attachment C – Compensating Balance Methods ...............................................61

Attachment D – “Group” Specific Questionnaires ..............................................62

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I. PURPOSE

The purpose of this Request for Proposal (“RFP”) is to obtain proposals to provide Banking and Investment Management Services to the Town of Leesburg (“Town”). A pre-proposal meeting will be held at 11:00 a.m. on Wednesday, April 5, 2017 in Lower Level Conference Room #2 of Town Hall, located at 25 W. Market Street, Leesburg, Virginia 20176. Attendance at the pre-proposal meeting is encouraged, but not mandatory. The required banking services have been divided into Four Service Groups:

Service Group 1: General Banking Service Group 2: Investment Custody Services Service Group 3: Lockbox Services Service Group 4: Purchasing Card Program

Offerors may submit proposals for any or all of the four groups. The Town of Leesburg will award contracts to the best overall proposal or combination of proposals deemed to be in the best interest of the Town. This is a requirements contract and the Town will have no obligation to the successful firm if no items or services are required. The quantities indicated are the present expectations for the period of the contract; the amounts are estimates only and the Offeror understands and agrees that the Town is under no obligation to the successful firm to buy any amount as a result of having provided this estimate or of having had any normal or otherwise measurable requirement in the past. The Town reserves the right to evaluate additional or new banking services which may be in the best interest of the Town from time to time and may negotiate the price of these services with the successful firm or to solicit new offers.

II. BACKGROUND

The Town of Leesburg is located 35 miles northwest of Washington, D.C. The Town serves an area of approximately 12 square miles with a population of approximately 51,209.

The Town has eight operating departments: Finance and Administrative Services, which includes Finance, Human Resources and Information Technology; Police; Public Works; Planning and Zoning; Plan Review; Parks and Recreation; Utilities; Information Technology; and Airport Operations. Each department has a director or manager who reports to the Town Manager. The Town maintains a bond rating of AAA with Fitch, Standard and Poor’s, and Moody’s. Under the Council-Manager form of government, the Director of Finance fulfills the role of the Town’s Chief Financial Official, similar to commissioner of revenue for counties. The Deputy Director of Finance fulfills the role of Treasurer. The Town Council recently

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approved the Fiscal 2017 Town budget that totaled $94,200,637. The Town’s five-year capital improvement plan budget totals $106,536,100. The following additional information is provided to help gain further understanding of the Town’s operations: A. Financial System

The Town’s financial system is within the MUNIS ERP system developed by Tyler Technologies. The Town is currently on version 11.2.

B. Direct Deposit

The Town offers direct deposit of payroll earnings for its employees. Approximately 600 employees are paid by direct deposit and 20 employees are paid by check, both on a bi-weekly basis.

C. Cash Processing

There are currently two cash/deposit sites within the Town, each making its own deposits to the Town’s current bank branch office. Both teller window and night depository are used. The Town does not currently use an armored car service.

Twice per week the Town deposits coins collected from parking meters and a pay for parking pay station. The coins are machine counted on site and delivered to the Town’s current bank for depositing to the Town’s account. Average coin deposits are $950. Throughout the year the Town collects water/sewer bills. Deposits fluctuate based on the district billing that is due but remain somewhat constant throughout the year. Total water/sewer revenue for fiscal year 2016 was approximately $20.9 million. This total does not reflect refundable customers deposits held. Other deposits vary by time of month and time of year with the four peak collection periods occurring prior to December 5 and June 5 (deadlines for semi-annual real estate tax payments) May 5 (deadline for personal property tax payments) and May 1, (the deadline for business license payments). Real estate tax collections last fiscal year (July 1, 2015 through June 30, 2016) totaled $12.5 million, business license payments totaled $3.2 million, and personal property tax at an annual dollar value of $2 million. Total Town revenues, excluding bond proceeds were over $55.8 million for the last fiscal year. For more information about the Town’s finances see the Town’s CAFR at Leesburg, VA : Financial Reports

http://www.leesburgva.gov/government/departments/finance/financial-reports-cafrs

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D. Daily Notification of Account Information

The Town needs to have a clear idea, on a daily basis, of the availability of funds for the purposes of operations and investments, and requires the offering bank to provide a secure software connection to account information. At a minimum, the Town requires the availability to review the balance available and daily activity in the concentration account on a daily basis, as well as the ability to originate real-time wires and ACH payments.

E. Additional Information for Credit Card Transactions

A sample Merchant Statement for the month of February 2016 is attached for your information as Exhibit B. Total volume and dollar amount of transactions as displayed on this particular statement are about average on an annual basis. Currently, the Town’s Municipal Center and Ida Lee Park Recreation Center accept credit card charges. The equipment used are third party internet, and analog dial, counter top payment devices (such as Converge and Verifone), which is owned by the Town. The resulting daily deposits are then electronically transmitted as a batch to the Town’s current bank.

F. Desirable Account Balance Since the goal is to maximize interest earnings, the minimum amount required to be maintained at the bank will be sought unless the bank’s over-night repurchase rate or alternative investment vehicle rate is more attractive than what could be found elsewhere. All deposits must be collateralized in accordance with Virginia’s Security for Public Deposit Act. For specifics concerning the, please contact the Department of the Treasury in Richmond, Virginia, telephone 804-225-3249.

G. Full Service Branch

The Town desires a bank branch that can: • Accept deposits, both over the teller window and through the night

depository; • Process deposits in a timely manner and return the Town’s copy of the

deposit slips within one no more than two days of the deposit; • Provide change for cash registers; • Accommodate on-site withdrawals; • Issue or redeem certificates of deposit; and • Coin processing. Another consideration to the Town is the location and proximity of the branch to the Town office. Our office is located in the heart of the downtown historic district.

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Since we are currently not using an armored pick-up service nor do we have access to an assigned staff vehicle to use for trips to the bank, a branch location that is convenient and easily accessible to our office is important. If the bank does not have a downtown branch location, consideration and alternatives to this fact should be considered as part of your proposal.

H. Miscellaneous Requirements

Should the bank change to a third party vendor who supplies a service to the Town under this contract or should the bank itself change (as in a merger), the Town will then have the opportunity to re-evaluate the contract. This may or may not result in termination of the contract.

III. OFFEROR’S MINIMUM QUALIFICATIONS To be considered for selection, proposing banks must meet the following minimum qualifications:

1. Be a federally chartered bank.

2. Have five (5) years similar governmental banking experience for similarly sized governments and be capable of providing all services required by the Town.

3. Be sufficiently capitalized to meet the City’s cash management needs. Be a qualified public depository for public funds in the Commonwealth of Virginia and conform to all Code of Virginia requirements. Deposits must be protected by Federal Depository Insurance and collateral held under the provision of the Virginia Security for Public Deposits Act (the “Act”) Section 2.2-4400 et. seq. Investments must comply with the Virginia Investment of Public Funds Act Section 2.2-4500 et. seq; comply with Uniform Commercial Code -- Bank Deposits and Collections pursuant to Virginia Code Section 8.4 and Bank Franchise Tax under Section 58.1-1200.

IV. SCOPE OF WORK

All proposals must be made on the basis of, and either meet or exceed, the requirements contained herein. All Offerors shall submit a proposal demonstrating their capability for rendering the following required banking related services needed by the Town. They have been divided into Four Service Groups:

Service Group 1: General Banking Service Group 2: Investment Custody Services Service Group 3: Lockbox Services Service Group 4: Purchasing Card Program

Offerors are encouraged to submit proposals as bundled offerings and individual service components. The Town will award contracts to the best overall proposal or combination

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of proposals deemed to be in the best interest of the Town. The Town may also decide not to award one or more of the services. A. Service Group 1: Banking Services

1. Bank Location:

Offeror must be a federally chartered bank, should have multiple branches strategically located throughout the Town, and should have one branch located within a five (5) mile radius of Town Hall located at 25 W. Market Street, Leesburg, VA 20176. If the banks’ headquarters is not located within the Washington Metropolitan area, a branch bank located within the area must be able to offer the full range of banking services required by this RFP.

2. Virginia Security for Public Deposits Act: Offeror must comply with all applicable federal, state and county laws, ordinances, rules and regulations including but not limited to the Virginia Security for Public Deposits Act (Chapter 2.2-4400 of the Code of Virginia). Bank must be a qualified public depository as defined in the Virginia Security for Public Deposits Act with a capital structure sufficient to support deposits of twenty (20) million dollars by the Town. Offerors MUST submit with the proposal its latest public depositor’s consolidated report of conditions filed with the Virginia State Treasurer as evidence of its ability to meet the capital structure requirements stated above. The successful bank shall maintain a capital structure of at least thirty (30) million dollars during the full and extended term of the agreement.

3. Account Requirements:

a. Account Structure – The bank will provide account relationships as

detailed in items 2 and 3 below. The Town maintains one main concentration account which will be a demand deposit account through which most activity flows, either directly or indirectly.

b. Fees - It is the Town’s intent to maintain a compensating balance in the Concentration Account to support activity costs for banking services as well as contract for direct fee services. The Offeror shall provide the option to fund a compensating balance in the concentration account for banking services costs or to pay banking fees, depending on market conditions. See Attachment C for calculation methodology.

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c. Account Descriptions – The Town maintains six (6) separate accounts.

1) Concentration Account - The Concentration Account is the primary depository account for most of the Town’s deposits. This includes cash, coin, encoded checks, un-encoded checks, Automated Clearing House (ACH) debits and credits, lockbox deposits, consolidated electronic payments via ACH, and State and Federal grant ACH’s, electronic transfer payments (ebox) and wires. The account will also be debited for outgoing wires, Electronic Funds Transfers (EFT’s), ACH transactions, and most returned items. Further there are approximately 2 merchant ID numbers for processing credit card transactions. An ACH deposit is made to this account daily for each merchant ID. All checks deposited should be in accordance with the bank’s availability schedule. Offerors MUST supply a copy of their availability schedule with their proposal. ACH debt blocks and filters must be available for real-time online maintenance via the internet.

2) Payroll Account – The Town pays payroll from this zero balance

account which includes checks and ACH direct deposit files processed bi-weekly. Balance requirements do not apply for the payroll account.

3) Ida Lee Account – The Town maintains an account specific for parks

and recreation transactions. Deposits of cash, coins, and checks are made daily. Occasionally electronic payments via ACH are received. This account will also be debited for outgoing wires and returned items. Further there are approximately 2 merchant ID numbers for processing credit card transactions. An ACH deposit is made to this account daily for each merchant ID.

4) Ancillary Accounts - The Town also maintains 3 (three) interest

bearing accounts in support of public safety. The deposit and check activity in these accounts is minimal. Most transactions from these accounts are done through account transfer wires.

4. Repurchase Agreements:

The Town may choose to utilize a Repurchase Agreement System for the short-term investment of various funds. Currently, some funds are placed through the Local Government Investment Pool (LGIP) Program with the State of Virginia and VML/VACO intermediate investment pool. The Offeror will automatically invest daily any excess cash balance left in the Concentration Account through an Overnight Repurchase Agreement and Investment Sweep process. All interest earned on Repurchase Agreements will be automatically credited to the Concentration Account.

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The Offeror shall provide a Schedule of Interest Rates. The Offeror can provide other options for overnight investments of excess cash balances for the Town to consider.

5. Deposit Services:

a. The Bank will accept all items delivered to it for deposit to the accounts

of the Town in accordance with the following requirements:

1) Funds received by federal or other wire transfer shall be considered immediately available funds.

2) Funds received through automated clearinghouse operations shall be

considered immediately available funds. 3) Federal checks, State checks, and cash, delivered by 2:00 P.M. to

the bank or its agent shall be considered immediately available funds.

4) All other items shall be credited to the Town’s accounts not later

than the Federal Reserve Banks schedule of availability as indicated in their “Current Operating Circular.”

b. The Bank’s proof and transit department shall operate to provide

availability of funds for deposits delivered from all offices of the Town after the close of the Town’s offices at 5:00 P.M.

c. The Bank shall automatically deposit for collection a second time any item returned to them for non-sufficient funds (NSF). The Bank shall notify the Town’s Accounting Division of all returned checks.

d. The Bank shall credit the Town’s account with the amounts shown on

deposit tickets and make adjusting entries if the tickets vary from the actual amount deposited. The Bank shall notify the Town’s Accounting Division of any overage or shortage. Such notification shall include full identification to enable the Accounting Division to debit or credit the appropriate accounts.

e. The Bank shall propose, support, and implement electronic transfer

payments (ebox) for utility, real estate, and personal property tax bills from online checking providers such as Metavante or Checkfree.

f. The Bank shall provide the Town with all specialized or proprietary equipment, supplies, maintenance, and other consumable items that the Town may need to conduct this business.

g. The Bank shall provide Desktop Check Deposit service for the Town to

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scan and submit check deposits online.

6. Checking Services:

a. The Bank shall make payment on and reconcile all checks drawn on the Town’s accounts.

b. The Bank shall provide specific reconciliation for each account or sub-

account. “Reconciliation” shall include a monthly outstanding items report for each account. The format for this report will show the checks in numerical order. The Offeror MUST have the capacity to receive a file or provide secure on-line transmission for data transfers. The Bank must be able to provide the Town with a file or secure on-line capture capability for all failed transmissions. Any files exchanged would be in a Microsoft Windows or Microsoft Office compatible format and can be imported to the Town’s financial system, MUNIS.

c. The Bank shall provide all cancelled checks monthly in an electronic

format suitable for access by the Town showing the front and reverse image of the paid check. Online access to cancelled checks shall be provided as well.

d. The Bank shall honor all Town checks for six (6) months from the date

of issue and then shall stale date all uncashed checks. The Town should have the ability to review stale dated checks online and choose to accept or reject these checks.

e. The Bank shall provide the Town with Positive Pay service. The Bank

shall accept a daily file, or secure on-line transmission containing information about checks issued by the Town from each disbursement account. Any file exchanged would be provided in a Microsoft Windows or Microsoft Office compatible format that can be exported from MUNIS to the bank. That information will be used to determine whether a check being presented to the bank for payment against a Town account has been authorized for payment. The Bank must have controls in place acceptable to the Town to assure receipt of a full and complete transmission of Positive Pay information. The Offeror shall provide a description of the steps taken to ensure that the information delivered by the above file transmission process from the Town to the Offeror is secure at all times.

f. The Successful Offeror shall include a proposal that allows the Town to accept and process e-checks in a manner acceptable to the Town. The Town may or may not choose to offer this payment option upon execution of the final contract documents.

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7. Banking Supplies: The Bank shall provide the following at NO cost:

a. Blank deposit tickets to the Town in such quantities as are required from

time to time.

b. Disposable deposit bags to the Town in such quantities as are required from time to time.

c. Printed checks drawn on a mutually agreed upon Town account that can

be used for emergencies when normal check writing processes are not available.

8. Reconciliation Services:

The bank shall provide partial reconciliation services for all accounts specified in this proposal. Partial reconciliation shall include the following minimum requirements:

a. Listing of paid items (check number in ascending order within its series,

total amount paid in series, amount paid, and date paid.)

b. Paid checks shall be available via an on-line service for review and printing by the Town as needed. Access to this imaging system should be via a web-based process and available over the life of the contract and a minimum of five (5) years after termination of the contract.

c. Recap of daily posted items to the ZBA account used for disbursements to be furnished with monthly statement of this account.

9. Monthly Account Analysis:

The bank MUST supply an account analysis report on a monthly basis. The minimum requirements for this report shall be: a. Average Book Balance b. Average Collected Balance c. Average Allowance Rate d. Transaction Volumes e. Transaction Prices f. Earnings Credit Rate

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10. Outgoing Wire Transfers:

a. Internet and telephone access for initiating and processing out-going wire transactions.

b. Dual controls are required regardless of method used to initiate the wire.

c. Wires may be repetitive or non-repetitive and domestic or international.

d. Internet access for confirmation of all wires executed, including details. Wire confirmation data is to include, but not be limited to:

1) Payer bank and account number 2) Beneficiary bank and account number 3) Dollar amount of wire 4) Reference information 5) Time and date wire was received or executed 6) Confirmation that the beneficiary bank received and acted upon the

wire instructions.

11. Customer Service: The Town approaches its banking service through the lens of a relationship. Customer service is a core principal and priority for the Town. The Offeror shall provide in response to this RFP the approach intended to provide world class customer service to include, but not limited to the following:

a. Provide two (2) officers of at least a Vice President (“officer”) level to

act as the primary and backup liaison between the Town and the Bank. These officers should be responsible for conflict resolution between the Town and the Bank. Direct contact information including, but not limited to, telephone, e-mail, and fax should be provided.

b. Propose and deliver a customer service team that will research and

provide feedback on routine transactions, including but not limited to wire transfers, debit/credit adjustments, deposits and account reconciliation processing in a timely and courteous fashion. The customer service team must be knowledgeable of the Town’s account structure and respond to any inquiries by the Town within twenty four (24) hours.

c. The officer and the key staff for each service should meet with Town

staff immediately after the contract has been fully executed for a project kickoff meeting. In addition, the officer and key staff should be available for other meetings as required by the Town.

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d. The Offeror shall provide on-site training services to the Town for the operation and use of the Offeror’s services and related automated systems. Training, operating manuals, and on-going support are to be supplied by the Offeror for all services provided.

e. Any new services and/or related services offered should be made

available to the Town, with associated costs for the services to be negotiated at the time of service offer.

12. Cash and Coin Service:

a. Loose coins collected from parking meters and pay station will be deposited weekly. Any branch of the bank should have the ability to process these deposits.

b. Any branch of the bank should have the ability to provide change or

currency orders, when requested.

13. ACH Processing:

a. The Offeror shall provide an ACH Bank Draft Payment option for the Town to offer its customers as an alternative method of payment. Each Offeror shall submit with this Proposal the software specifications for review to determine compatibility with current Town’s Munis system. This service must be submitted through a secure electronic transmission. ACH file formats are provided for single and multiple batch formats in Exhibit E.

b. Town also utilizes ACH processing for Town payroll on a biweekly basis and uses ACH processing for payments to vendors on a weekly basis. Each Offeror shall quote any charges that will occur with this service, including other bill types, such as real estate, personal property, and other forms of payment.

c. The Offeror shall provide a description of the steps taken to ensure that the information transmitted by ACH from the Town to the Offeror is secure at all times.

d. Offeror shall provide a description and cost, in sufficient detail, of the services that insure that only authorized ACH transactions are being posted to the Town’s bank accounts.

14. Interest Rates:

Offerors shall indicate in their proposal how interest rates and Earnings Credit Rates (ECR) are established and shall give historical figures to

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indicate what the rates have been. Offerors shall also provide a detailed calculation and explanation of how the ECR is applied to offset banking services fees and how the interest rate is applied to the excess cash balance. Offeror shall describe any monitoring and notification process that may be available, if any, to assist the Town in making a determination whether the excess cash above the target compensating balance, if applicable, will be invested in Repurchase Agreements or whether a higher yield may be obtained through the current interest rate offered by the bank. A quarterly analysis of these two available investment yields will be submitted to the Town semiannually to help ensure that the investments of excess funds are maximizing the earnings to the Town.

B. Service Group 2: Investment Custody Services

Offeror should detail available investment custody services, including those listed below, should the Town choose to establish custody accounts. The custodian bank will have no responsibility for investing or reinvesting these monies except for providing an overnight investment vehicle. Required services include the following:

1. Maintain a custody account in the Bank’s Trust Department for the cash and

securities owned by the Town. 2. All securities and cash held by the custodian shall be segregated from the

assets of others and shall be and remain the sole property of the Town. The custodian shall have only the bare custody thereof. The securities held by the custodian shall, unless payable to the bearer, be registered in the name of the Town, or in the bank's nominee name. Securities delivered to the custodian, except bearer securities and Certificates of Deposit, shall be in due form for transfer or already registered as provided above.

3. Process security trades per instructions received by authorized persons. 4. Collect all coupons and other periodic income on securities held. 5. Monitor and record the collection of funds in accounts maintained by the

custodian for the Town. 6. Create, maintain and retain all records relating to securities held in custody

in Town accounts to meet the requirements and obligations under Generally Accepted Accounting Principles (GAAP).

7. Provide an overnight investment vehicle for cash balances in the custody accounts. A list of securities permitted for overnight investment is provided in Exhibit C to this RFP.

8. Provide online reporting of portfolio activity and holdings on a real-time or next day basis.

9. Provide online monthly activity statements and reports including the market value of all portfolio holdings.

10. Provide monthly activity statements and reports for all accounts. The statement cut off should be the last day of the month. Statements must be sent no later than the 10th of the following month.

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C. Service Group 3: Retail Lockbox

1. Currently, the Town maintains two post office boxes, one for tax payments

and one for utility payments, both located at the main post office in Leesburg. The mail is picked up from the post office by the lockbox courier and taken to the lockbox processor for processing and deposit. The Town is receptive to other lockbox processing procedures but prefers local lockbox processing options.

2. All remittance coupons have an OCR scan line to facilitate processing of

the payments. 3. All work should be processed on the day it is received from the post office.

Funds should be posted to the concentration account daily, in accordance with the bank’s availability schedule.

4. Remittance information will be transmitted to the Town via secure File

Transfer Protocol (FTP) in a designated file format to be processed by Town systems. Two files are required, one containing data and one containing a report file.

5. Provide images of all transactions no later than the next business day.

Images should also be available online for at least three years. 6. Reporting by email should be provided at the time of transmission that

summarizes the dollar value and quantity of each type of transaction (i.e. personal property, real estate, and utilities).

7. Lockbox services should allow for the following:

a. Single document/Single check b. Multiple documents/multiple checks b. Single document/multiple checks c. Multiple documents/single check

8. Lockbox services MUST provide for the following:

a. Online access to images of processed items, b. Online reporting and download of transactions, and c. Online exception processing. d. An electronic daily file that can be accepted by MUNIS and uploaded

into the general ledger file to include: account information and payment amounts.

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D. Service Group 4: Purchasing Card Program

1. Overview of Existing Program: The Town’s current purchasing card program has approximately 90 cardholders. The program provides for the in-store and online acquisition of minor supplies or services and may be used for reoccurring charges for purchases under a contract. The Town is currently riding a cooperative contract for purchasing card services; with approximately 30 jurisdictions in the Consortium. The combined spend of the Consortium is $300,000,000; with the Town’s annual spend at approximately $2,400,000. In considering the Town’s net volume, the current rebate structure is approximately 1.153%. Moderate transactional growth in the coming years is anticipated.

2. The Town is seeking ways to expedite the processing of invoices, to provide

a seamless reconciliation process with our current accounting system (MUNIS), and to increase the volume rebates on the purchase card program.

3. The minimum required services include:

a. A “branded” (Visa/MasterCard/American Express) purchasing card, b. Rebate on purchases made, c. User friendly on-line system for cardholders to code and authorize

transactions, d. Access to view real time activity and make real time changes to

accounts and transactions by Town’s Program Administrator, e. User friendly on-line administration system for account management.

Fields and functionality available to Town’s Program Administrator must include at a minimum the following: 1) Create, update, and terminate all cardholder accounts 2) Review and make changes to transaction limits 3) Review and make changes to merchant category codes, groups or

“strategies” 4) Ability to override transactions 5) Ability to control and set account restrictions and bar changes to

selected MCC codes by cardholders 6) At a minimum, ability to generate the following reports:

• Card holder listing • Vendor listing/usage reports • Transaction listings • Sales Tax • Account changes • Usage by cardholder for various time periods • Usage by MCC code/category • Usage by date/time period • MCC category/strategy listing

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f. Electronic transfer of detailed tier 3 data to MUNIS. g. Vendor dispute process h. Fraud detection program i. Customer Support 1) Toll-free telephone number available 24 hours per day and seven (7)

days a week for cardholders to report a lost or stolen card 2) Toll-free telephone number for Town’s Program Administrator to

make inquiries; request changes, report fraud, discuss billing issues, etc. 3) Toll-free telephone number for on-line technical support. j. Training (start-up and ongoing) k. Centralized billing

E. Other

Offerors are encouraged to provide a description of any additional services available that would enhance the Town’s banking or investment management process or be of benefit to the Town. Examples include: applications that ease the use for taxpayers and/or employee or applications that improve account management and reporting. Discussion of these initiatives should include such things as innovation, flexibility, control, communication, commitment, problem solving, customer service, cost, and relationship management.

V. PROPOSAL SUBMITTAL INSTRUCTIONS

A. Submittal Instructions

1. Proposals shall be submitted in sealed envelopes bearing the name of the Offeror, the Offeror’s address and the title of the proposal. The proposal shall be signed in the name of the Offeror and bear the signature of the person duly authorized to sign the proposal. The name, address, and phone number of the point of contact shall be identified.

2. Submit proposals in a sealed envelope with the following information:

TITLE: Banking Services RFP NO.: 100161-FY17-24 DUE DATE: April 20, 2017; 3:00 PM LOCATION: Town of Leesburg

Procurement Division 25 W. Market Street Leesburg, VA 20176

3. One (1) original (so marked), four (4) hard-copies of your proposal, and one

(1) electronic copy of your proposal must be submitted to the address on the cover page of this RFP by the date and time noted. Telephone, fax, electronic, emailed and verbal offers will not be accepted.

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4. Offerors assume full responsibility for the delivery of the completed

proposal to the address noted above on or before the deadline for submission. The Town is not responsible for any loss or delay with respect to the delivery of the proposals. ANY PROPOSAL RECEIVED BY THE TOWN AFTER THE DEADLINE FOR SUBMISSION WILL NOT BE ACCEPTED.

5. Offerors are directed to use the PROPOSAL FORMS (Attachments A, B,

C and D) or copies thereof in submitting proposals. Explanatory comments and suggested additional or different services or products should be included in the body of the proposal. No promotional literature is to be included.

6. In preparing and submitting the proposals, the phrase “NO PROPOSAL”

shall be entered on the proposal form for any item or items that cannot be met. In the case of a “NO PROPOSAL” remark, the Offeror may offer an alternate service. For any items proposed, it shall be assumed the proposal meets or exceeds the requirements as stated in this proposal.

B. Proposal Format Offerors shall submit proposals in the following format:

1. Proposals shall include a cover letter, the completed Offeror Submission

Form, references, and any other information that you deem appropriate. 2. Proposals shall be submitted on 8-1/2” x 11” paper. Proposals are to be

prepared simply and concisely. Elaborate artwork, expensive paper, visual, and other presentation aids are not required.

3. Proposal shall be signed in ink by the individual or authorized principals

of the firm. 4. Each copy of the proposal shall be bound or contained in binders, all

pages shall be numbered, and shall be organized using tabs in the sequence and format as indicated below:

TAB 1 • Table of Contents

(1 page maximum) • Executive Summary/Transmittal Letter

(1 page maximum)

TAB 2 • Firm Qualifications and Experience (5 pages maximum)

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• Summary of Key Personnel (2 pages maximum per assigned person)

TAB 3 • Understanding of Scope of Work for the four (4) service groups, utilizing no more than five (5) double sided pages (10 pages maximum)

• Additional Proposed Services (5 pages maximum)

TAB 4 Proposal Forms • Attachment A – Offeror Submission Form • Attachment B – Pricing Form • Attachment C – Compensation Balance Methods • Attachment D – Group Specific Questionnaire

TAB 4 • References TAB 5 • Exceptions to the RFP

C. Proposal Organization The purpose of the proposal is to demonstrate the qualifications, competence and capacity of the offerors seeking to provide banking and investment management services in conformity with the requirements of this RFP. As such, the substance of proposals will carry more weight than their form or manner of presentation. Proposals should demonstrate the qualifications of the offeror and of the particular staff to be assigned to this engagement. It should also specify the offeror’s approach that will meet the RFP requirements. The proposal should address all the points outlined in the RFP. The proposal should be prepared simply, providing a straightforward, concise description of the offeror's capabilities to satisfy the requirements of the RFP. The submitted proposal shall form an integral part of the resulting Contract by reference. Therefore, offerors should exercise extreme care in describing what services are included or excluded in the proposal.

VI. QUESTIONS AND INQUIRIES

Unless otherwise instructed, the Procurement Contact is the sole point of contact for questions concerning this RFP. Questions concerning this RFP must be made in writing to the Procurement Contact listed on the cover page of the RFP. Questions must be received by 5:00 p.m. on Friday, April 7, 2017. A formal addendum responding to all questions received by the deadline will be made available no later than five business days before the proposal due date. Additional clarifications to the specifications will also be in the form of a written addendum. All addenda will be posted on the Town’s website. Such addenda will become part of the

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contract documents. Verbal instructions are not binding and will not form a part of the proposal documents. It is the Offeror’s responsibility to obtain all addenda from the Town’s website: http://www.leesburgva.gov/bidboard

VII. EVALUATION AND AWARD A. Evaluation Criteria

Proposals will be evaluated on the following criteria and weighted accordingly:

1. Demonstrated ability of the bank to comprehensively meet all services detailed in the RFP. Proven banking service capabilities, including ability to expand capabilities and provide additional services not currently being requested. Understanding of services and tasks as depicted in proposal – 15%

2. Quality controls in place to ensure high-quality service, the understanding of the Town’s needs, and any special processes which the bank feels may increase its ability to perform the contract. Statement on Standards for Attestation Agreements No.16 (SSAE-16) Report – 20%

3. Comparable experience in governmental banking activities. Provide experience, technical capabilities, professional competence and qualifications of the proposed personnel assigned to provide the services. Comparable experience in governmental banking activities. – 10%

4. References (i.e., satisfaction of customers) along with names and addresses of parties of whom comparable banking services have been provided. Provide at least five references (public agency references, if possible), including client name, contact person, address, phone number, services provided, and the length of time your bank has worked for the entity. If the bank is proposing to more than one Service Group, include at least two references for each Service Group. Since the Town is a Virginia municipality, references from other Virginia municipalities would be viewed as more desirable than from commercial cash management clients. – 5%

5. Cost of services. Cost of services will be considered based on each service

provided as well as the cost of services in total. Any banking or lockbox services and documents not detailed on the proposal pricing forms shall be provided to the Town at no cost. Such services include the availability of bank staff to consult with Town staff concerning bank service performance. Such documents will include, but are not limited to deposit slips, advices, stop payment forms, cashier’s checks, and money bags.

http://www.leesburgva.gov/bidboard

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Offerors shall list any other free goods and services which may be available to the Town. – 30%

6. Assessment by the Town of the overall technology based services being

offered. – 10%

7. Bank location, including customer service delivery and availability for personal service and consultation. – 10%

B. Selection Process

The evaluation committee will be comprised of users and potential users from various Town departments. The Town Staff will evaluate and rank the proposals using the evaluation criteria stated above and negotiate a contract in accordance with the process for competitive negotiation described in Section 2.2-4302.2 of the Virginia Public Procurement Act (VPPA) for non-professional services.

Selection shall be made of two or more Offerors deemed to be fully qualified and best suited among those submitting proposals, on the basis of the factors involved in the Request for Proposal, including price for each of the four Service Groups. The top two or more firms for each Service Group may be invited for interviews and will be invited for negotiations. A demonstration of online web based banking services may be required. After negotiations have been conducted with each Offeror so selected, the Town shall select the Offeror which, in its opinion, has made the best proposal, and shall award the contract to that Offeror.

C. Contract Award

The Town intends to award a contract to a qualified Offeror authorized to transact business in the Commonwealth of Virginia with demonstrated experience similar in nature to that being requested herein. The award of a contract shall be at the sole discretion of the Town. Award will be made to the Offeror whose proposal is determined to be most advantageous to the Town, taking into consideration the above criteria. The Town reserves the right to accept or to reject any or all proposals in whole or in part, to make multiple awards, and to waive informalities in the process of awarding this contract. The Town further reserves the right to make an award of a contract without further discussion of the proposals received provided it is determined in writing that only one Offeror is fully qualified, or that one Offeror is clearly more highly qualified and suitable than the others under consideration. Therefore, proposals should be submitted initially on the most favorable terms that the Offeror could propose with respect to both price and technical capability.

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The contents of the proposal submitted by the successful Offeror will become a part of any contract awarded as a result of this RFP. The successful Offeror shall be expected to sign a contract with the Town. Additional terms and provisions may be included in the contract, a sample copy of which is enclosed.

D. Contract Administration

All correspondence after contract award is to be addressed to Mr. Clark G. Case, Director of Finance and Administrative Services, Town of Leesburg, 25 West Market Street Leesburg, VA 20176. Clark G. Case, Director of Finance and administrative Services, is the contract administrator assigned to this contract. Mr. Case will receive all deliverables and correspondence generated from the resulting contract.

VIII. TERMS AND CONDITIONS

A. Special Terms and Conditions

1. Contract Term: The initial term of this annual, unit price requirements contract shall commence on January 1, 2018 and shall continue in force until December 31, 2018. Upon mutual agreement of both parties, this contract may be renewed for up to seven (7) additional one-year renewal terms. Pricing for renewal years one and two are expected to remain firm. Pricing for additional renewal years may be negotiated but at no time will a single year unit price increase more than the percentage increase of the Financial Services category, all urban consumers, not seasonally adjusted, CUUR0000SEGD05 of the Consumer Price Index (CPI) of the United States Bureau of Labor Statistics for the latest twelve months for which statistics are available. The source for this index shall be http://www.bls.gov/cpi.

B. General Terms and Conditions

1. Proposal Binding for One Hundred Twenty (120) Days: Offeror agrees that this proposal shall be valid and may not be withdrawn for a period of one hundred and twenty (120) calendar days after the due date.

2. Late Proposals: Proposals received after the time specified on the cover

page of this RFP will not be accepted and will be returned unopened, provided a return address is visible.

3. Acceptance or Rejection of Proposals: The Town reserves the right to

accept or reject any or all proposals in whole or in part and to waive minor informalities in the process of awarding this contract.

http://www.bls.gov/cpi

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4. Competition Intended: It is the Town’s intent that this request for proposals permits competition. It shall be the offeror’s responsibility to advise the Procurement Officer in writing if any language, requirements, specifications, etc., or any combinations thereof, inadvertently restricts or limits the requirements stated in this RFP to a single source. The Procurement Officer must receive such notification at least ten (10) business days before the due date.

5. Understanding of Specifications: Offerors shall thoroughly examine

and be familiar with the Town specifications. The failure or omission of any offeror to receive or examine this document shall in no way relieve any offeror of obligations with respect to this proposal or the subsequent contract. The submission of a proposal shall be taken as prima facie evidence of compliance with this paragraph.

6. Exceptions to RFP: Offerors taking exception to any part or section of

this RFP shall indicate such exceptions in their proposal. Failure to indicate any exceptions shall be interpreted as the offeror’s intent not to fully comply with the specifications as written. Conditional or qualified proposals are subject to rejection in whole or in part.

7. Inquiries Concerning Specifications: Questions concerning this RFP

must be made in writing to the Procurement Contact listed on the cover page of the RFP.

8. ADA Reasonable Accommodation Clause: If you need any reasonable

accommodation for any type of disability in order to participate in this procurement, please contact the Procurement Officer at least ten (10) business days before the proposal due date.

9. Costs Incurred in Responding: This solicitation does not commit the

Town to pay any costs incurred in the preparation and submission of proposals, or to procure or contract for services defined herein.

10. Employment Discrimination Prohibited: During the performance of

this contract, the contractor agrees as follows:

a. The contractor will not discriminate against any employee or applicant for employment because of race, religion, color, sex or national origin, age, disability, or any other basis prohibited by state law relating to discrimination in employment. The contractor agrees to post in conspicuous places, available to employees and applicants for employment, notices setting forth the provisions of this nondiscrimination clause.

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b. The contractor, in all solicitations or advertisements for employees placed by or on behalf of the contractor, will state that such contractor is an equal opportunity employer.

c. Notices, advertisements and solicitations placed in accordance

with federal law, rule or regulation shall be deemed sufficient for the purpose of meeting the requirements of this section.

The contractor will include the provisions of the foregoing paragraphs a, b and c in every subcontract or purchase order of over $10,000 so that the provisions will be binding upon each subcontractor or vendor.

11. Disposition of Proposals: All materials submitted in response to this

RFP will become the property of the Town. One (1) copy of each proposal shall be retained for official files and will become a public record. These records will be available for public inspection after award of the contract. It is understood that the proposal will become a part of the official file on this matter without obligation on the part of the Town except as to the disclosure restrictions contained in Section 12. “Trade Secrets and Proprietary Information Disclosure”.

12. Trade Secrets and Proprietary Information Disclosure: In

compliance with the Town’s Procurement Policies, all proposals will be available for public inspection. Trade secrets and proprietary information submitted by an offeror in connection with procurement shall not be subject to public disclosure under the Virginia Freedom of Information Act. However, the offeror must invoke the protection of this section before or upon submission of the data or other materials, and must identify the specific area or scope of data or other materials to be protected and state the reasons why protection is necessary. An all-inclusive statement that the entire proposal is proprietary is unacceptable. A statement that the costs are to be protected is unacceptable.

13. Laws and Regulations: The offeror’s attention is directed to the fact

that all applicable Commonwealth of Virginia laws, municipal ordinances and the rules and regulations of all authorities having jurisdiction over the contract shall apply to the contract throughout, and they will be considered to be included in the contract the same as though herein written out it full.

14. License Requirement: All firms doing business for the Town are

required to be licensed in accordance with the Town’s “Business, Professional, and Occupational Licensing (BPOL) Tax” Ordinance. Wholesale and retail merchants without a business location in Leesburg, VA are exempt from this requirement. Questions concerning the BPOL

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Tax should be directed to the Department of Finance, telephone 703-771-2717. Indicate the BPOL license number on the proposal form.

15. Ethics in Public Contracting: The offeror agrees that it will adhere to

Article 6 – “Ethics in Public Contracting” requirements set forth in the Virginia Public Procurement Act.

16. Safety: All contractors and subcontractors performing services for the

Town are required and shall comply with all Occupational Safety and Health Administration (OSHA), State and County Safety and Occupation Health Standards and any other applicable rules and regulations. Also, all contractors and subcontractors shall be held responsible for the safety of their employees and any unsafe acts or conditions that may cause injury or damage to any persons or property within and around the work site area under this contract.

17. Termination: Subject to the provisions below, the contract may be

terminated by the Town upon thirty (30) days advance written notice to the other party. If any work or service hereunder is in progress, but not completed as of the date of termination, then this contract may be extended upon written approval of the Town until said work or services are completed and accepted.

Termination for Convenience – In the event that this contract is terminated or cancelled upon request and for the convenience of the Town, without the required thirty (30) days advance written notice, then the Town shall negotiate reasonable termination costs, if applicable. Termination for Cause: – Termination by the Town for cause, default or negligence on the part of the contractor shall be excluded from the foregoing provision; termination costs, if any, shall not apply. The thirty (30) days advance notice requirement is waived in the event of Termination for Cause. In the event of default by the offeror, we reserve the right to procure the commodities and/or services from other sources, and hold the offeror liable for any excess cost occasioned thereby. If, however, public necessity requires use of commodities and/or service not conforming to the specifications they may be accepted and payment therefore shall be made at a proper reduction in price. Termination Due to Unavailability of Funds in Succeeding Fiscal Years – When funds are not appropriated or otherwise made available to support continuation of performance in a subsequent fiscal year, the contract shall be cancelled and the contractor shall be reimbursed for the reasonable value of any non-recurring costs incurred but not amortized in the price of the supplies or services delivered under the contract.

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18. Non-Assignment of Contract: The contractor shall not assign the contract, or any portion thereof, without the advanced written permission of the Procurement Officer, such permission not to be unreasonably withheld.

19. Use by Other Localities: Offerors are advised that the resultant

contract may be extended, with the authorization of the offeror, to other public bodies or public agencies or institutions of the United States to permit their use of the contract at the same prices and/or discounts and terms and conditions of the resulting contract. If any other public body decides to use the final contract, the Contractor(s) must deal directly with that public body concerning the placement of orders, issuance of the purchase orders, contractual disputes, invoicing and payment. The Town of Leesburg acts only as the “Contracting Agent” for these public bodies. Failure to extend a contract to any public body will have no effect on consideration of your bid.

It is the Contractor’s responsibility to notify the public body(s) of the availability of the contract. Other public bodies desiring to use this contract must make their own legal determination as to whether the use of this contract is consistent with their laws, regulations, and other policies. Each public body has the option of executing a separate contract with the Contractor(s). Public bodies may add terms and conditions required by statute, ordinances, and regulations, to the extent that they do not conflict with the contract’s terms and conditions. If, when preparing such a contract, the general terms and conditions of the public body are unacceptable to the Contractor, the Contractor may withdrawal its extension of the award to that public body. The Town of Leesburg shall not be held liable for any costs or damages incurred by another public body as a result of any award extended to that Public Body by the Contractor.

20. Modification of the Contract: This contract may be modified by

approved a contract modification or change order signed by both parties in accordance with the VPPA.

21. Discrimination Prohibited; Participation of Small and Minority-

Owned Business: The Town shall not discriminate against an offeror because of race, religion, color, sex, national origin, age, disability, or any other basis prohibited by state law relating to discrimination in employment.

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22. Drug-free Workplace to be maintained by Contractor; Required Contract Provisions: All public bodies shall include in every contract over $10,000 the following provisions:

During the performance of this contract, the contractor agrees to (i) provide a drug-free workplace for the contractor's employees; (ii) post in conspicuous places, available to employees and applicants for employment, a statement notifying employees that the unlawful manufacture, sale, distribution, dispensation, possession, or use of a controlled substance or marijuana is prohibited in the contractor's workplace and specifying the actions that will be taken against employees for violations of such prohibition; (iii) state in all solicitations or advertisements for employees placed by or on behalf of the contractor that the contractor maintains a drug-free workplace; and (iv) include the provisions of the foregoing clauses in every subcontract or purchase order of over $10,000, so that the provisions will be binding upon each subcontractor or vendor.

For the purposes of this section, “drug-free workplace” means a site for the performance of work done in connection with a specific contract awarded to a contractor in accordance with this chapter, the employees of whom are prohibited from engaging in the unlawful manufacture, sale, distribution, dispensation, possession or use of any controlled substance or marijuana during the performance of the contract.

23. Collusion among Offerors: More than one proposal from an

individual, firm, partnership, corporation or association under the same or different name will be rejected. Reasonable grounds for believing that an offeror has an interest in more than one proposal for the work contemplated will cause rejection of all proposals in which the offeror is interested. Any or all proposals will be rejected if there is any reason for believing that collusion exists among the offerors. Participants in such collusion may not be considered in future proposals for the same work. The signer of the proposal must declare that all persons, companies and parties interested in the contract as principals are named therein; that the proposal is made without collusion with any other person, persons, company or parties submitting a proposal; that it is in all respects fair and in good faith without collusion or fraud; and that the signer of the proposal has authority to contractually bind the offeror. See Offeror Submission Form.

24. Town Employees: No employee of the Town shall be admitted to any

share or part of this contract or to any benefit that may arise there from. 25. Qualification of Offerors: Each offeror may be required, before the

award of any contract, to show to the complete satisfaction of the

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Evaluation Team that it has the necessary facilities, abilities, and financial resources to furnish the service or material specified herein in a satisfactory manner, and the offeror may also be required to show past history and reference which will enable the Evaluation Team to be satisfied as to the offeror’s qualifications. Failure to qualify according to the foregoing requirements will justify proposal rejection.

26. Liability: The successful offeror will not be held responsible for failure

to perform the duties and responsibilities imposed by the contract due to legal strikes, fires, civil disobedience, riots, rebellions, acts of God and similar occurrences beyond the control of the successful offeror that make performance impossible or illegal, unless otherwise specified in the agreement.

27. Expenses Incurred In Preparing Proposal: The Town accepts no

responsibility for any expense incurred in the proposal preparation and presentation. Such expenses are to be borne exclusively by the offeror.

28. Protest Of Award Or Decision To Award: An offeror may protest an

award or decision to award a contract under procedures as set forth in the VPPA.

29. Ethics In Public Contracting: This specification incorporates by

reference, but is not limited to, the provisions of law contained in the Virginia Conflict of Interest Act, the Virginia Governmental Frauds Act, Articles 2 and 3 of Chapter 10 of Title 18.2 of the Code of Virginia, as amended, and the Town’s Procurement Policy.

30. Faith-Based Organizations: The Town of Leesburg does not

discriminate against faith-based organizations.

31. Insurance Requirements: Offeror shall secure at its own expense general liability insurance in an amount not less than $2,000,000 solely contained in a Commercial General Liability Policy or in combination with an Umbrella or Excess Policy. Included shall be coverage for Bodily Injury and Property Damage resulting from the operations, products, and completed operations of the contractor.

Offeror shall also carry automobile insurance in an amount not less than $2,000,000 solely contained in a Commercial Auto Policy or in combination with an Umbrella or Excess Policy. Offeror shall also carry Workers Compensation insurance, which meets the statutory requirements of the Commonwealth of Virginia. In addition, offeror shall also carry other insurance coverage deemed by the Town to be appropriate to his agreement.

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The above-mentioned coverage shall be placed with an insurance carrier licensed to do business in the Commonwealth of Virginia. The carrier must have an AM Best Rating of A or better. A Certificate of Insurance identifying coverage and naming the Town of Leesburg as additional insured shall be furnished to the Town. Liability coverage shall contain wording prohibiting cancellation of coverage, failure to renew, or reduction in limit without the insurer first giving 30 days prior written notice of such action to the Town.

32. Payment Clauses: Pursuant to Section 2.2-4354 of the VPPA, within

seven days after receipt of amounts paid to the offeror by the Town for work performed by the subcontractor under the resulting contract the Offeror will:

a. Pay the subcontractor for the proportionate share of the total

payment received from the agency attributable to the work performed by the subcontractor under that contract; or

b. Notify the agency and subcontractor, in writing, of his intention

to withhold all or a part of the subcontractor’s payment with the reason for nonpayment.

Individual contractors must provide their social security numbers and proprietorships, partnerships, and corporations to provide their federal employer identification numbers.

The offeror will pay interest to the subcontractor on all amounts owed by the offeror that remain unpaid after seven days following receipt by the offeror of payment from the Town for work performed by the subcontractor under that contract, except for amounts withheld as allowed in subdivision 1.

“Unless otherwise provided under the terms of this contract, interest shall accrue at the rate of one percent per month.” The offeror will include in each of its subcontracts a provision requiring each subcontractor to include or otherwise be subject to the same payment and interest requirements with respect to each lower-tier subcontractor.

A contractor’s obligation to pay an interest charge to a subcontractor pursuant to the payment clause in this section shall not be construed to be an obligation of the Town. A contract modification shall not be made for the purpose of providing reimbursement for the interest charge. A cost reimbursement claim shall not include any amount for reimbursement for the interest charge.

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33. Prime Vendor Responsibilities: Offerors may propose services that are provided by others, but any services proposed must meet all of the requirements of this RFP. If the offeror’s proposal includes services provided by others, the offeror will be required to act as the prime vendor for all such items and must assume full responsibility for the procurement delivery and quality of such services. The offeror will be considered the sole point of contact with regard to all stipulations, including payment of all charges and the meeting of all requirements of this RFP.

34. Purchase Orders: A purchase order will be enclosed with the resulting

contract or will be issued shortly thereafter, and will become an integral part of the resulting contract. The purchase order indicates that sufficient funds have been obligated as required by Title 15 of the Code of the Commonwealth of Virginia, and assures distribution of the necessary receiving reports. The purchase order does not supersede any provisions of the resulting contract. Performance time and dates are determined solely by the contract and any modification thereto. Services are not to begin until receipt of the purchase order and/or other notification by the Town’s Procurement Officer or designee.

IX. EXHIBITS AND ATTACHMENTS A. Exhibits

The following list of exhibits are to be used as a reference to assist offerors in their proposal submission:

Exhibit A – Sample Contract Exhibit B – Sample Merchants Statement (February 2016) Exhibit C – Overnight Investment Securities Exhibit D – Water/Sewer Bill

B. Attachments

The following list of attachments must be completed and returned with your proposal submission:

Attachment A – Offeror Submission Form

Attachment B – Pricing Forms Attachment C – Compensation Balance Methods Attachment D – Group Specific Questionnaire

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EXHIBIT A – SAMPLE CONTRACT CONTRACT NO. [SOLICITATION TITLE] This CONTRACT (the “CONTRACT”) is made this _____ day of , 20 , by and between the TOWN OF LEESBURG, VIRGINIA (the “TOWN”), a municipal corporation, and , a having a usual place of business at (the “CONTRACTOR”). The Contractor and the Town, in consideration of the mutual covenants, promises, and agreements herein contained, agree as follows: 1. Provision of Services. The Contractor hereby agrees to provide the following services to

the Town:

[DESCRIPTION OF SERVICES]

2. Contract Documents. The Contract Documents consist of this Contract, the RFP, the

Town Purchase Order and the _______________________________ quote, dated ______________. Where the terms of this Contract and the Contractor’s quote are at variance, the provisions of this Contract shall prevail.

3. Contract Term. The initial term shall commence on January 1, 2018 and shall continue

in force until December 31, 2018. Upon mutual agreement of both parties, this contract may be renewed for up to seven (7) additional one-year renewal terms.

4. Contract Amount. In return for the services identified above, the Town certifies that

sufficient funds are budgeted and appropriated and shall compensate the Contractor within thirty (30) days after receipt of a proper invoice for the amount of payment due or thirty (30) days after receipt of services, whichever is later, and in accordance with paragraph numbered 5 of this Contract.

5. Method of Payment. The Contractor shall submit invoices to the Town with all supporting

documentation and shall be reimbursed within [PAYMENT TERMS OR SCHEDULE] or after receipt of invoice or completion of services, whichever occurs later. Payment will be made upon receipt of an invoice, which details the hours worked and services performed. The invoice must be mailed to the address specified below and must reference the purchase order number.

Mr. Clark G. Case, Director of Finance and Administrative Services, Town of Leesburg, 25 W. Market St, Leesburg, VA 20176

6. Applicable Law and Courts. This contract resulting from this solicitation shall be

governed in all respects by the laws of the Commonwealth of Virginia and any litigation

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with respect thereto shall be brought in the Circuit Court of Loudoun County. The Contractor shall comply with applicable federal, state and local laws and regulations.

7. Assignment of Contract. This Contract shall not be assignable by the Contractor in whole

or in part without the prior written consent of the Town. 8. Audit. The Contractor shall retain all books, records, and other documents relative to this

Contract for five (5) years after final payment, or until audited by the Town, whichever is sooner. The agency, its authorized agents, and/or State auditors shall have full access to and the right to examine any of said materials during said period.

9. Indemnification. Contractor agrees to indemnify, defend and hold harmless the Town, its officers, agents, and employees from any claims, damages and actions of any kind or nature, whether at law or in equity, arising from or caused by any services of any kind or nature furnished by the Contractor, provided that such liability is not attributable to the sole negligence of the Town.

10. Notice. The following persons shall be contact persons for the parties, and notice given them, by certified return receipt requested mail to the addresses shown, shall constitute valid notice under the requirements of this agreement:

1. For TOWN: 2. For CONTRACTOR:

The parties may amend such addresses by written notice to the opposite party at the given address.

11. Termination

A. Termination without Cause. The Town may terminate this Contract for any reason upon ten (10) days notice and upon payment of any and all sums already earned under the terms of Paragraphs numbered 4 and 5 of this Contract and reasonable expenses incurred in reliance upon the Contract.

Notwithstanding the foregoing, the Contractor agrees that any resulting contract is subject to annual appropriations of the Leesburg Town Council and that non-appropriation of sufficient funding to continue the contract will result in its automatic termination once existing funding is exhausted.

B. By Town with Cause. The Town may terminate this contract if the Contractor is in

material breach with this Contract and fails to adequately remedy such breach after written notice form the Town and a 14-day period to cure the breach. If this Contract is terminated by the Town for cause, the Town may withhold any further payments to the Contractor until it determines its damages and may sue the Contractor for any damages caused by the breach. If the Town terminates this Contract for cause and it is

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later determined that such termination was not justified, then the termination shall be converted into one without cause under Paragraph 11.A. and any liability of the Town shall be limited solely to the liability provided by that paragraph for a termination without cause.

C. If this Contract is terminated by the Town, the Contractor shall within seven days thereafter deliver to the Town all Contract Deliverables regardless of the current state of completion. In such case, the Contractor grants an irrevocable right to the Town to use the Contract Deliverables without additional compensation to the Contractor, by the Contractor will not be liable for any change or alterations to the Contract Deliverables or for their use in an incomplete state.

12. Integration Clause. This contract shall constitute the whole agreement between the

parties. There are no promises, terms, conditions, or obligations other than those contained herein, and this Contract shall supersede all previous communications, representations or agreements, written or verbal, between the parties hereto related to the subject of this Contract.

13. Notice of Required Disability Legislation Compliance. The Town is required to comply

with state and federal disability legislation: The Rehabilitation Act of 1973 Section 504, The Americans with Disabilities Act (ADA) for 1990 Title II and The Virginians with Disabilities Act of 1990. Specifically, the Town may not, through its contractual and/or financial arrangements, directly or indirectly avoid compliance with Title II of the Americans with Disabilities Act, Public Law 101-336, which prohibits discrimination on the basis of disability by public entities. Subtitle A protects qualified individuals with disability from discrimination on the basis of disability in the services, programs, or activities of all State and local governments. It extends the prohibition of discrimination in federally assisted programs established by the Rehabilitation Act of 1973 Section 504 to all activities of State and local governments, including those that do not receive Federal financial assistance, and incorporates specific prohibitions of discrimination on the basis of disability in Titles I, III, and V of the Americans with Disabilities Act. The Virginians with Disabilities Act of 1990 follows the Rehabilitation Act of 1973 Section 504.

14. Faith Based Organizations. The Town does not discriminate against faith-based

organizations. 15. Immigration Reform and Control Act of 1986. By entering this Agreement, the

Contractor certifies that it does not and will not during the performance of this Agreement violate the provisions of the Federal Immigration Reform and Control Act of 1986, which prohibits employment of illegal aliens.

16. Payment to Subcontractors. Within seven (7) days after receipt of amounts paid by the

Town for work performed by a subcontractor under this Agreement, the Contractor shall either: a) pay the subcontractor for the proportionate share of the total payment received from the Town attributable to the work performed by the subcontractor under this Agreement; or b) notify the Town and subcontractor, in writing, of his intention to withhold

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all or a part of the subcontractor's payment and the reason for non-payment. The Contractor shall pay interest to the subcontractor on all amounts owed that remain unpaid beyond the seven (7) day period except for amounts withheld as allowed in item b. Unless otherwise provided under the terms of this Agreement, interest shall accrue at the rate of one percent (1%) per month. The Contractor shall include in each of its subcontracts a provision requiring each subcontractor to include or otherwise be subject to the same payment and interest requirements as set forth above with respect to each lower-tier subcontractor. The Contractor's obligation to pay an interest charge to a subcontractor pursuant to this provision may not be construed to be an obligation of the Town.

17. Authority to Transact Business in Virginia. A Contractor organized as a stock or

nonstock corporation, limited liability company, business trust, or limited partnership or registered as a registered limited liability partnership shall be authorized to transact business in the Commonwealth as a domestic or foreign business entity if so required by Title 13.1 or Title 50 of the Code of Virginia or as otherwise required by law. Any business entity described herein that enters into an Agreement with the Town pursuant to the Virginia Public Procurement Act 2.2-4300 et seq. shall not allow its existence to lapse or its certificate of authority or registration to transact business in the Commonwealth, if so required under Title 13.1 or Title 50 of the Code of Virginia, to be revoked or cancelled at any time during the term of the Agreement. The Town may void any Agreement with a business entity if the business entity fails to remain in compliance with the provisions of this section.

18. Counterparts. This Contract and any amendments or renewals hereto may be executed in

a number of counterparts, and each counterpart signature, when taken with the other counterpart signatures, is treated as if executed upon one original of this Contract or any amendment or renewal. A signature by any party to this Contract provided by facsimile or electronic mail is binding upon that party as if it were the original.

19. Ethics in Public Contracting. The provisions contained in Sections 2.2 4367 through 2.2

4377 of the Virginia Public Procurement Act as set forth in the 1950 Code of Virginia, as amended, shall be applicable to all Contracts solicited or entered into by the Town. A copy of these provisions may be obtained from the Town upon request.

The above-stated provisions supplement, but do not supersede, other provisions of law including, but not limited to, the Virginia State and Local Government Conflict of Interests Act (§ 2.2-3100 et seq.), the Virginia Governmental Frauds Act (§ 18.2 498.1 et seq.) and Articles 2 and 3 of Chapter 10 of Title 18.2. The provisions apply notwithstanding the fact that the conduct described may not constitute a violation of the Virginia State and Local Government Conflict of Interests Act.

20. Exemption from Taxes. Pursuant to Va. Code § 58.1-609.1, the Town is exempt from

Virginia State Sales or Use Taxes and Federal Excise Tax, therefore the Contractor shall not charge the County for Virginia State Sales or Use Taxes or Federal Excise Tax on the finished goods or products provided under the Contract. However, this exemption does not apply to the Contractor, and the Contractor shall be responsible for the payment of any

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sales, use, or excise tax it incurs in providing the goods required by the Contract, including, but not limited to, taxes on materials purchased by a Contractor for incorporation in or use on a construction project. Nothing in this section shall prohibit the Contractor from including its own sales tax expense in connection with the Contract in its Contract price.

21. Employment Discrimination by Contractors Prohibited

A. During the performance of this Contract, the Contractor agrees as follows:

1. The Contractor will not discriminate against any employee or applicant for employment because of race, religion, color, sex, national origin, age, disability, status as a service disabled veteran, or any other basis prohibited by state law relating to discrimination in employment, except where there is a bona fide occupational qualification reasonably necessary to the normal operation of the Contractor. The Contractor agrees to post in conspicuous places, available to employees and applicants for employment, notices setting forth the provisions of this nondiscrimination clause.

2. The Contractor, in all solicitations or advertisements for employees placed

by or on behalf of the Contractor, shall state that such Contractor is an equal opportunity employer.

3. Notices, advertisements and solicitations placed in accordance with federal

law, rule or regulation shall be deemed sufficient to meet this requirement.

B. The Contractor will include the provisions of the foregoing paragraphs, 1, 2, and 3 in every subcontract or purchase order of over $10,000, so that the provisions will be binding upon each subcontractor or vendor.

22. Drug-free Workplace During the performance of this Contract, the Contractor agrees to (i) provide a drug-free

workplace for the contractor’s employees; (ii) post in conspicuous places, available to employees and applicants for employment, a statement notifying employees that the unlawful manufacture, sale, distribution, dispensation, possession, or use of a controlled substance or marijuana is prohibited in the contractor’s workplace and specifying the actions that will be taken against employees for violations of such prohibition; (iii) state in all solicitations or advertisements for employees placed by or on behalf of the contractor that the contractor maintains a drug-free workplace; and (iv) include the provisions of the foregoing clauses in every subcontract or purchase order of over $10,000, so that the provisions will be binding upon each subcontractor or vendor. For the purpose of this section, “drug-free workplace” means a site for the performance of work done in connection with a specific contract awarded to a contractor in accordance with this chapter, the employees of whom are prohibited from engaging in the unlawful manufacture, sale, distribution, dispensation, possession, or use of a controlled substance or marijuana during the performance of the Contract.

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23. Delays and Delivery Failures. Time is of the essence. The Contractor must keep the

Town advised at all times of status of parties’ agreement. If delay is foreseen, the Contractor shall give immediate written notice to Town. Should Contractor fail to deliver the proper item/service at the time and place contracted for, or within a reasonable period of time thereafter as agreed to in writing by the Tow, or should the Contractor fail to make a timely replacement of rejected item/service when so required, the Town may purchase item/service of comparable quality and quantity in the open market to replace the undelivered or rejected item/service. The Contractor shall reimburse the Town for all costs in excess of the Contract price when purchases are made in the open market; or, in the even that there is a balance the Town owes to the Contractor from prior transactions, an amount equal to the additional expense incurred by the Town as a result of the Contractor’s nonperformance shall be deducted from the balance as payment.

24. Substitutions. No substitutions, additions or cancellations, including those of key

personnel, are permitted after Contract award without written approval by the Town. Where specific employees are proposed by the Contractor for work, those employees shall perform the work as long as those employees work for the Contractor, either as employees or subcontractors, unless the Town agrees to substitution. Requests for substitutions shall be reviewed and may be approved by Town at its sole discretion.

25. Workmanship and Inspection. All work under this Contract shall be performed in a

skillful and workmanlike manner. The Contractor and its employees shall be professional and courteous at all times. The Town reserves the right to require immediate removal of any Contractor employee from Town service it deems unfit for service for any reason, not contrary to law. This right is non-negotiable and the Contractor agrees to this condition by accepting this Contract. Further, the Town may, from time to time, make inspections of the work performed under the Contract. Any inspection by the Town does not relieve the Contractor of any responsibility in meeting the Contract requirements.

26. Contractual Disputes. The Contractor shall give written notice to the Procurement

Officer of intent to file a claim for money or other relief within ten (10) calendar days of the occurrence giving rise to the claim or at the beginning of the work upon which the claim is to be based, whichever is earlier.

The Contractor shall submit its invoice for final payment within thirty (30) days after completion or delivery.

The claim, with supporting documentation, shall be submitted to the Procurement Officer by US Mail, courier, or overnight delivery service, no later than sixty (60) days after final payment. If the claim is not disposed of by agreement, the Procurement Officer shall reduce his/her decision to writing and mail or otherwise forward a copy thereof to the Contractor within thirty (30) days of the Town’s receipt of the claim.

The Procurement Officer’s decision shall be final unless the Contractor appeals within thirty (30) days by submitting a written letter of appeal to the Town Manager, or his

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designee. The Town Manager shall render a decision within sixty (60) days of receipt of the appeal.

No Contractor shall institute any legal action until all statutory requirements have been met. Each party shall bear its own costs and expenses resulting from any litigation, including attorney’s fees.

27. Severability. In the event that any provision shall be adjudged or decreed to be invalid,

by a court of competent jurisdiction, such ruling shall not invalidate the entire Contract but shall pertain only to the provision in question and the remaining provisions shall continue to be valid, binding and in full force and effect.

28. Force Majeure. A party will not be held responsible for failure to perform the duties and

responsibilities imposed by the contract due to legal strikes, fires, civil disobedience, riots, rebellions, acts of God and similar occurrences beyond the control of the party that make performance impossible or illegal, unless otherwise specified in the Contract.

If a party asserts Force Majeure as an excuse for failure to perform the party's obligation,

that party must immediately notify the other party giving full particulars of the event of force majeure and the reasons for the event of force majeure preventing that party from, or delaying that party in performing its obligations under this contract and that party must use its reasonable efforts to mitigate the effect of the event of force majeure upon its or their performance of the contract and to fulfill its or their obligations under the contract.

An event of force majeure does not relieve a party from liability for an obligation which arose before the occurrence of that event, nor does that event affect the obligation to pay money in a timely manner which matured prior to the occurrence of that event.

The Contractor has no entitlement and Town has no liability for: (1) any costs, losses,

expenses, damages or the payment of any part of the contract price during an event of force majeure; and (2) any delay costs in any way incurred by the contractor due to an event of force majeure.

29. Survival of Terms. Upon discharge of this Contract, Sections (Notice, Indemnification,

Governing Law/Forum, and Contractual Disputes) continue and survive in full force and effect.

30. Insurance. Contractor shall secure at its own expense general liability insurance in an amount not less

than $2,000,000 solely contained in a Commercial General Liability Policy or in combination with an Umbrella or Excess Policy. Included shall be coverage for Bodily Injury and Property Damage resulting from the operations, products, and completed operations of the contractor.

Contractor shall also carry automobile insurance contained in a Commercial Auto Policy

or in combination with an Umbrella or Excess Policy. Contractor shall also carry Workers Compensation insurance, which meets the statutory requirements of the Commonwealth of

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Virginia. In addition, Contractor shall also carry other insurance coverage deemed by the Town to be appropriate to this agreement.

The above-mentioned coverage shall be placed with an insurance carrier licensed to do

business in the Commonwealth of Virginia. The carrier must have an AM Best Rating of A or better. A Certificate of Insurance identifying coverage and naming the Town of Leesburg as additional insured shall be furnished to the Town. Liability coverage shall contain wording prohibiting cancellation of coverage, failure to renew, or reduction in limit without the insurer first giving 30 days’ prior written notice of such action to the Town.

31. Parties’ Relationship. It is the intent of the parties hereto that the Contractor shall be

considered as an independent contractor and that neither it nor its employees shall, under any circumstances, be considered servants or agents of the Town and that these bodies shall be at no time legally responsible for any negligence on the part of said Contractor, its servants or agents, resulting in either bodily or personal injury or property damage to any individual, firm, or corporation.

32. Ownership of Documents. Contractor agrees that all information, finished or unfinished

documents, data, studies, surveys, specifications, records, reports and other material gathered and/or prepared by or for it under the terms of the Contract shall, at the Town’s option, be delivered to, become, and remain the property of the Town. The Town shall also have the right to use and reproduce the data and reports submitted hereunder, without additional compensation to the Contractor.

32. Non-appropriation. All funds for payments by the Town under this Contract are subject

to the availability of an annual appropriation for this purpose by the Leesburg Town Council. In the event of non-appropriation of funds by the Leesburg Town Council for the goods or services provided under this Contract or substitutes for such goods or services which are as advanced or more advanced in their technology, the Town will terminate the Contract, without termination charge or other liability to the Town, on the last day of the then current fiscal year or when the appropriation made for the then current year for the services covered by this Contract is spent, whichever event occurs first. If funds are not appropriated at any time for the continuation of this Contract, cancellation will be accepted by the Consultant on thirty (30) days prior written notice, but failure to give such notice shall be of no effect and the Leesburg Town Council shall not be obligated under this Contract beyond the date of termination. The Town certifies that sufficient funds are budgeted and appropriated for the current fiscal year.

In witness whereof, the parties below execute this Contract as of the date first written above.

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TOWN OF LEESBURG, VIRGINIA

CONTRACTOR

AUTHORIZED SIGNATURE

AUTHORIZED SIGNATURE

NAME NAME TITLE TITLE DATE DATE

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EXHIBIT B

SAMPLE MERCHANTS STATEMENT (FERUARY 2016)

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EXHIBIT C OVERNIGHT INVESTMENT SECURITIES

PERMITTED INVESTMENTS:

A. Registered Investment Companies (Money Market Mutual Funds). Shares in open-end investment funds, provided such funds are: 1) registered under the Federal Investment Company Act of 1940; 2) invested exclusively in the securities specifically permitted under the Town’s Investment Policy; 3) similarly diversified, provided that the fund is rated “A” or better by Standard & Poor’s and Moody’s; and 4) properly registered for sale under the Securities Act (Section 13.1-501 et seq.) of the Code of Virginia.

B. Savings Accounts, Time Deposits and Certificates of Deposit. Instruments of national

banks located within the Commonwealth and of banks organized pursuant to Chapter 2, Title 6.1 of the Code of Virginia, provided that such deposits are secured as provided by the Virginia Security for Public Deposits Act.

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EXHIBIT D WATER/SEWER BILL

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ATTACHMENT A – OFFEROR SUBMISSION FORM RFP NO. 100161-FY17-24

SECTION I – COMPANY IDENTIFICATION AND OWNERSHIP DISCLOSURE Company Address Contact Person Title Telephone No. Fax No. Email Organized under the laws of the State of Principal place of business at Federal Id Number Registered Agent State Corp. Commission Registration No. (attach Certificate of Good Standing) List the names and addresses of all persons having ownership of 3% or more in the company: Name Address The Town of Leesburg requests, as a matter of policy, that any consultant or firm receiving a contract of award resulting from a formal solicitation issued by the Town shall make certification as specified below. Receipt of such certification, shall be a prerequisite to the award of contract and payment thereof. SECTION II – EMPLOYEES NOT TO BENEFIT - I (we) hereby certify that if the contract is awarded to our firm, partnership, or corporation, that no employee of the Town of Leesburg, or members of his/her immediate family, including spouse, parents or children has received or been promised, directly or indirectly, any financial benefit, by way of fee, commission, finder’s fee, political contribution or any similar form of remuneration on account of the act of awarding and/or executing this contract. SECTION III – CONFLICTS OF INTEREST - This solicitation is subject to the provisions of VA Code Ann. Section 2.1-639.2 et seq., the State and Local Government Conflict of Interests Act. The Supplier [ ] is [ ] is not aware of any information bearing on the existence of any potential organizational conflict of interest. SECTION IV – COLLUSION - I certify that this offer is made without prior understanding, agreement, or connection with any corporation, firm, or person submitting an offer for the same services, materials, supplies, or equipment and is in all respects fair and without collusion or fraud. I understand collusive bidding is a violation of the State and federal law and can result in fines, prison sentences, and civil damage awards. I hereby certify that the responses to the above representations, certifications, and other statements are accurate and complete. I agree to abide by all conditions of this RFP and certify that I am authorized to sign for my company. Signature Date Name (Printed) Title

OFFEROR MUST RETURN THIS FORM WITH THEIR PROPOSAL

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ATTACHMENT B - PRICING FORM

INSTRUCTIONS BY SERVICE GROUP

Use of the Proposal Forms (Attachment A, B, C & D) or a copy thereof is required by all Offerors. No proposal shall be considered without proposal amounts and information being placed on these forms. If the Offeror is unable to meet or exceed the requirements as specified, then the words “NO PROPOSAL” should be placed in the extension column. The proposal shall be on a variable cost basis, under the variable proposal method. Actual monthly services shall be counted and the volume of transactions shall be computed to determine the compensating balance required to support activity. It shall be the prerogative of the Evaluation Committee to eliminate any individual service contained in the proposal, if the analyses of the fees for providing the service determine that the fees are excessive, or if the requested service can be performed in-house at a lesser cost. Each Offeror shall review the Proposal Forms and price each service specified. Per item charges shall be extended to the “Estimated Annual Charges” and shall be totaled for the totals requested and these shall be totaled on the “Grand Total Proposal.” The “Grand Total Proposal” shall be then divided by twelve (12) to arrive at an average monthly amount and this amount is multiplied by the amount of “collected balances required to support $1.00 of services” on Proposal Form Attachment C. Offerors shall describe the methodology used to derive the collected balances required. This formula provides for consideration of the reserve requirement and the earnings allowance in the proposal calculations. Individual Offerors shall use the reserve requirements and earnings allowance as of June 30, 2016.

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ATTACHMENT B – PRICING FORM SERVICE GROUP 1 - BANKING SERVICES

CURRENT ESTIMATED AVERAGE MONTHLY VOLUME

Banking Service Total Volume

Charge Per Item

Monthly Charge

Annual Charge

Account Maintenance 5 $ $ $ Post Verify Deposits/Credits 136 $ $ $

Deposited Checks 140 $ $ $ Desktop Deposits 146

Desktop checks deposited 1355 Desktop deposit report per item 3

Electronic deposits – checks 4224 Cash deposited in branch 34997

Disposable bags processed 15 Cash ordered in branch 1658

Night drop deposits 116 Night drop cash 49923 Faxed reports 6 Checks Paid 455 $ $ $

Deposit Items Returned/Charge Back 7 $ $ $ Deposit Items Returned/Resubmitted 7 $ $ $

Wire Transfers - Incoming 2 $ $ $ ACH Transfers - Incoming 383 $ $ $ ACH Transfers - Outgoing

(including payroll direct deposit)

1836 $ $ $

ACH returns 3 Electronic credits 461

Wire Transfers - Outgoing 11 $ $ $ Stop Payments 2 $ $ $

Stop Payment – auto renewal 56 Check Copies 33 $ $ $

Automatic Over-night Investment 20 $ $ $ P/C Software for On-Line Hookup 1 $ $ $

On-Line Viewed items 48 Partial Account Reconciliation 2 $ $ $

Reconcilement items 492 Master Card/Visa/Discover

Merchant’s Account

5 $ $ $

Debits posted 82 $ $ $ Safe Deposit Box 12” x 24” 1 $ $ $

TOTAL $ $ $

Other: (Items that bank would like to propose) 1. 2. 3. 4. 5.

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NOTE: if the offering bank is unable to provide the designated banking service, then the words “NO PROPOSAL” should be placed in the appropriate column. BANK NAME PREPARED BY SIGNATURE DATE

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ATTACHMENT B – PRICING FORM SERVICE GROUP 2 - LOCKBOX SERVICES

CURRENT ESTIMATED AVERAGE MONTHLY VOLUME

Banking Service Total Volume

Charge Per Item

Monthly Charge

Annual Charge

$ $ $ Lockbox Maintenance 1 $ $ $

E-box payments 1031 E-box suspended payment 5

E-box transmission 32

TOTAL $ $ $

Other: (Items that bank would like to propose) 1. 2. 3. 4. 5. NOTE: if the offering bank is unable to provide the designated banking service, then the words “NO PROPOSAL” should be placed in the appropriate column. BANK NAME PREPARED BY SIGNATURE DATE

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ATTACHMENT B – PRICING FORM SERVICE GROUP 3 - CUSTODIAL SERVICES

PRICING SCHEDULE

(Monthly volume may vary depending on economic conditions)

Banking Service Price per Unit

Charge Per Item

Monthly Charge

Annual Charge

Custodial service fee 1 $ $ $ Book entry buy, sale, maturity 2 $ $ $

Physical buy, sale, maturity 1 Mortgage back paydown 1

Outgoing wires 1 TOTAL $ $ $

Other: (Items that bank would like to propose) 1. 2. 3. 4. 5. NOTE: if the offering bank is unable to provide the designated banking service, then the words “NO PROPOSAL” should be placed in the appropriate column. BANK NAME PREPARED BY SIGNATURE DATE

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ATTACHMENT B – PRICING FORM SERVICE GROUP 4 - PURCHASE CARD SERVICES

PRICING SCHEDULE

Banking Service Average Monthly Volume

Are you proposing for Purchase Card

Services Purchase Card rebate $200,000

Offerors are to insert their proposed rebate schedule based on purchase volume below:

NOTE: if the offering bank is unable to provide the designated banking service, then the words “NO PROPOSAL” should be placed in the appropriate column. BANK NAME PREPARED BY SIGNATURE DATE

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ATTACHMENT C - COMPENSATING BALANCE METHODS For Service Group 1: Banking Services Only

Compensating balances shall be related to the cost of Bank Services according to the following formula: ‘ 365 # Days in Month / (1 – Reserve Requirement (R.R.)) * = Collected Balances Required to Earning Allowance** Support $1.00 of Service Monthly Service Charge x Collected Balances Required to Support $1.00 of Service = Compensating Balance * The bank shall use reserve requirement as of June 30, 2010. ** The earning allowance rate shall be as of June 30, 2010. The Offeror shall prepare and provide the Town a

six (6) month history of earning allowance rates.

TO BE COMPLETED BY OFFEROR

‘ 365 / ( 1 - R.R.) # Days in Month = $ Collected Balances Earnings Allowance Required to Support $1.00 of Services $ X $ = $ Monthly Service Collected Balances Compensating Balance Charges Required to Support $1.00 of Services The formula and calculations above must be used and completed by all Offerors proposing on Services Group 1. Offerors are encouraged to also propose alternate computation formulas that will result in better returns for the Town. Alternate computations should be detailed below or on a separate sheet. BANK NAME PREPARED BY SIGNATURE DATE

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ATTACHMENT D GROUP SPECIFIC QUESTIONNAIRES

ATTACHMENT D – GROUP SPECIFIC QUESTIONNAIRE

SERVICE DESCRIPTION/SUBMITTAL REQUIREMENT RESPONSE

YES/NO/ COMMENT

FEE, if applicable

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SERVICE GROUP 1: GENERAL BANKING 1.1 Confirm that the financial institution is either a national banking association, federal savings and loan

association or federal savings bank located in Virginia or a bank, trust company or savings institution organized under Virginia law and that the bank is a Qualified Public Depository as defined by the Virginia Securities for Public Deposits Act, Chapter 44, Title 2.2.

DEPOSIT PROCESSING 1.2 Provide the address and distance of the branch nearest to: Town Hall, 25 W Market St., Leesburg, VA

20176.

1.3 What is the ledger cutoff time for deposits? 1.4 Can checks, currency, and coin be included in the same deposit or are split deposits required?

1.5 Does the bank accept loose and/or rolled coin for deposit at branch locations? 1.6 Is there a fee for depositing loose or rolled coin? 1.7 What type of deposit bags does the bank allow/require? 1.8 Does the bank provide these bags? 1.9 Does the bank charge a fee for these bags? 1.10 Are there any restrictions on deposit bags provided by the customer? 1.11 How are deposits credited? 1.12 Are items immediately verified? 1.13 If provision credit is given, when does verification take place? 1.14 Can returned items be automatically redeposited? 1.15 How many times can a return item be redeposited? 1.16 Does the bank offer any options that may increase the collection of “bounced” checks? 1.17 Can the bank provide a detailed return item transmission to the Town? 1.18 Does the return item report identify the payers’ name, depositing location and the type of item being

returned?

AVAILABILITY OF DEPOSITS 1.19 How do you determine and calculate availability of deposited items?



YES/NO/ COMMENT

FEE, if applicable

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1.20 Do you calculate availability by item or formula? 1.21 Provide a copy of the availability schedule proposed to use for the Town. 1.22 Is this the best schedule? 1.23 If this is not the best schedule, quantify the difference and explain how the Town may obtain the bank’s

best availability schedule.

1.24 Describe the extra charge, if any, for obtaining the best availability schedule. POSITIVE PAY

1.25 Does the bank offer Positive Pay and Payee Positive Pay? 1.26 How is information transmitted to the bank? 1.27 What is the deadline for the transmission of check issuance files to the bank? 1.28 How frequently can transmission files be uploaded to the bank for the issuance of additional checks,

and/or recently voided items?

1.29 Is there a limit to the number of files per day? 1.30 Does the bank offer the ability to manually enter one-time check disbursements issued during the day?

1.31 Describe manual one-time check disbursements. 1.32 How will the Town be notified of rejected items? 1.33 What time will the Town receive the information on rejected items? 1.34 How much time will the Town have to review discrepancies and notify the bank to reject?

1.35 Will stale-dated checks be reported as exception items? 1.36 Is Positive Pay required / suggested for all demand deposit accounts, even on accounts with no check

writing privileges?

1.37 Is Teller Positive Pay available? 1.38 How long does it take for check issuance information to be available to tellers? 1.39 Is Positive Pay being offered free of charge to the Town as part of this proposal? Is it offered free of

charge to other customers?

1.39 What are the fees and interest charges associated with overdrafts?



YES/NO/ COMMENT

FEE, if applicable

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1.40 How are overdraft charges calculated? 1.49 Is there a fee per check or per occurrence when there is an overdraft? 1.50 Is there a daily cap on fees?

STOP PAYMENTS 1.51 How are stop payments orders placed? 1.52 Can stop payments be placed online? 1.53 Are stop payment requests effective immediately? 1.54 If stop payment requests are not immediate, for a check that is presented to the bank today, what is the

latest time for a stop payment request to be placed and be effective?

1.55 How long will the stop payment remain in effect? 1.56 Are there different stop payment term options? 1.57 Can stop payments be automatically renewed? 1.58 How long can stop payment requests be renewed? 1.59 Is there an associated fee for each stop? 1.60 How are stale checks over six months handled?

ACH PROCESSING: INITIATED BY THE TOWN 1.61 What are the different ACH file transmissions options available? 1.62 What are the transmission deadlines for ACH files? 1.63 When does the bank need the file from the Town and when are funds debited from MUNIS?

1.64 How are returned and rejected ACH transactions handled? 1.65 What information does the bank provide to assist in identifying returned and rejected ACH transmissions?

1.66 When is this information available? ACH PROCESSING: INITIATED EXTERNALLY



YES/NO/ COMMENT

FEE, if applicable

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1.67 On incoming ACH credits, what level of detail is available with ACH Addendums (invoice number, etc.)?

1.68 How is this information transmitted to the Town? 1.69 Can information be downloaded and automatically coded for entry into the Town’s accounting system?

1.70 What formats are available? 1.71 Describe the financial institution’s ability to block unauthorized ACH debits? 1.72 If the bank provides ACH debit blocking, what level of filtering can be applied? 1.73 Does the bank offer ACH Positive Pay (ability to make pay / no pay decisions on unidentified ACH

transactions)?

1.74 Does the bank offer Universal Payment Identification Code? (Ability to mask visible account numbers to reduce the risk of unauthorized direct debits)

WIRE PROCESSING 1.75 Describe the process of initiating wire transfers. 1.76 If wire transfers can be initiated online, describe the system’s security features. 1.77 Can varying degrees of authorization be set on (i.e. multiple authorizers, maximum dollar amounts, etc.)?

1.78 Does the bank offer its customers dual control release options (secondary approval levels) for electronically initiated transfers?

1.79 Describe dual control release options for electronically initiated transfers if applicable.

1.80 What is the cut-off time for same-day wire transfers? INTRA-BANK ACCOUNT TRANSFERS

1.81 Describe the process of initiating an intra-bank account transfer? 1.82 Does the bank offer its customers dual control release options (secondary approval levels) for

electronically initiated transfers?



YES/NO/ COMMENT

FEE, if applicable

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1.83 Describe dual control release options for electronically initiated transfers, if applicable.

1.84 What is the cut-off time for same-day intra-bank account transfers? BALANCE REPORTING

1.85 Describe the reports that will be available to the Town through the bank’s balance reporting system. Include sample reports.

1.86 How will the Town access the reporting system? 1.87 Will the reporting system provide beginning and ending ledger (book) balances, collected balances,

available balances, and float assignment?

1.88 What current day reporting is available through the reporting system? 1.89 Does the bank’s deposit reporting system report electronic transactions (e.g. ACH, wire) as well as paper

documents?

1.90 What time (assuming Controlled Disbursement is not used) will the bank be able to report the total amount of the day’s check disbursements to the Town?

1.91 Can account activity be downloaded and automatically coded for entry into MUNIS?

1.92 What formats are available? 1.93 Can reports be customized? 1.94 Is there an additional charge to customize reports? 1.95 How many business days of balance history are stored on the reporting system for current day reporting?

1.96 How many business days of balance history are stored on the reporting system for previous day reporting?

1.97 Are electronic images stored on the reporting system? 1.98 How does the bank charge for accessing electronic stored images (per item viewed / per item charge on all

items)?

1.99 How long are electronic images stored on the reporting system and available for customer access?



YES/NO/ COMMENT

FEE, if applicable

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OVERNIGHT INVESTMENT/INVESTMENT SWEEP 1.100 What short-term investment vehicle(s) does the bank propose to use for the overnight investment or sweep

of the Town’s demand deposit accounts?

1.101 Does a reserve requirement apply to the proposed overnight or sweep option? 1.102 Provide return history for the twenty-four month period from July 2008 through June 2010.

1.103 If a sweep is proposed, what time of day is the sweep deadline? 1.104 Is sweep at the end-of-day or next-day? 1.105 What applicable fee (if any) applies for funds swept into this investment vehicle? How is the fee

calculated?

1.106 If the bank is proposing a money market mutual fund, provide a copy of the current prospectus and, if multiple classes are offered, identify the class of shares, including ticker symbol or CUSIP, which is being proposed.

EARNINGS CREDIT RATING 1.107 Does the Town have the option of compensating the bank on either a fee or balance basis?

1.108 Is the price the same for the fee or balance basis option? 1.109 If fees are different, what is the difference? 1.110 How is your bank’s earnings credit determined, adjusted, and applied? 1.111 Explain the impact of the bank’s reserve requirement, the formula for converting service charges to

balance requirements.

1.112 Provide rate history for the twenty-four month period from July 2014 through June 2016.

1.113 What time frame does your bank use when reviewing balances for deficiency or excess (e.g. rolling 12 month average, calendar quarter, calendar year, etc.)?

1.114 Will the bank cash the Town’s payroll checks without charge to the employee? 1.115 What is the charge for employees’ to cash a payroll check, if applicable?



YES/NO/ COMMENT

FEE, if applicable

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1.116 Is a check cashing agreement required for employees to cash a payroll check? 1.117 If a check cashing agreement is required for employees to cash a payroll check, include a copy.

1.118 Do you offer the Town the ability to change earnings calculations based on interest rate fluctuations to maximize earnings?

ACCOUNT ANALYSIS STATEMENT 1.119 Provide a sample analysis statement for the Town’s accounts. 1.120 How soon after month-end is the analysis statement available? 1.121 Does the bank offer electronic analysis and bank statements? 1.122 Will the bank pass on FDIC or FICO charges to the Town? 1.123 If so, what is the current charge for an entire year on a $1,000,000 balance? 1.124 If charged, how are the FDIC or FICO charges computed?



YES/NO/ COMMENT

FEE, if applicable

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SERVICE GROUP 2: INVESTMENT CUSTODY SERVICES 2.1 Confirm that you propose to provide custody through the firm’s trust department. 2.2 List the total number and market value of accounts held by the trust department as of December 31 for the

following years: 2014, 2015, and 2016.

2.3 Describe your organization’s commitment to providing custody services. 2.4 What office or location will provide custody services? 2.5 Provide the FED BOOK cut off times for notification of a fixed-income transaction settling the same day.

2.6 Provide the DTC cut off times for notification of a fixed-income transaction settling the same day.

2.7 When does the bank credit interest and dividends? 2.8 Are security transactions settled on an actual or contractual basis? 2.9 How will the bank compensate the Town for fail float? 2.10 Describe any sub-custodial arrangements that would be used for fixed-income securities belonging to the

Town if applicable. Include a description of the arrangements used for the delivery of physical securities.

2.11 What short-term investment vehicle(s) does the bank propose to use for the overnight sweep in the Town’s custody accounts?

2.12 Does a reserve requirement apply for the proposed overnight sweep option? 2.13 What time of day is the cash sweep deadline? Is it end-of-day or next-day sweep? 2.14 Provide repurchase agreement return history for the twenty-four month period from July 2014 through

June 2016.

2.15 If the bank is proposing a money market mutual fund, provide a copy of the current prospectus and, if multiple classes are offered, identify the class of shares, including ticker symbol or CUSIP, which is being proposed.

2.16 Provide a complete listing of associated fees and/or administrative charges. 2.17 Is the sweep option automated?



YES/NO/ COMMENT

FEE, if applicable

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2.18 If sweep option is not automated, what process does the bank use to ensure cash balances are invested?

2.19 What payment options are available? (EFT, EDI, Check, Automatic Debit, etc.)

REPORTING 2.20 Describe the frequency and format of custody reports that will be provided to the Town. Include sample

reports.

2.21 Is information provided information to clients through an online inquiry/reporting service? Are customized reports available at no additional charge through this online inquiry/reporting service?

2.22 What source is used for market valuation of securities? 2.23 What is the lag time between trade execution, availability of online transaction data, and the settlement of

the transaction to the reporting system?



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SERVICE GROUP 3: RETAIL LOCKBOX 3.1 Where will retail lockbox items be processed? 3.2 Can a Virginia P.O. Box be used? 3.3 If a VA PO Box can be used, would there be additional mail float time? 3.4 What was the average monthly volume for your retail lockbox operation by location during the last

twelve months (items, dollars, number of lockboxes and number of customers)?

3.5 What is the ledger cut-off time for retail lockbox deposits for the bank of first deposit? Include weekends and holidays.

3.6 What is the latest mail pickup to be included in the last deposit? 3.7 Will you process and deposit all of the Town’s payments on the same ledger day as received?

3.8 If payments are not recorded the same day, when are these items deposited? 3.9 Describe the lockbox department’s processing workflow. Highlight your quality control checkpoints

and the components that are directly controlled by the lockbox manager. Include a schematic or flow chart of the processing procedures.

3.10 Describe your procedures for the capture and transmissions of remittance detail such as account or invoice number.

3.11 In what standard formats does the bank transmit? 3.12 Will you customize? 3.13 Are changes to the current remittance document necessary to process transactions (Exhibit D)?

3.14 Describe the bank’s procedures for processing exception items. 3.15 Will same-day online decisions be made of exception items? Please describe. 3.16 If a payment is received without the remittance document, do you offer any technology that can aid in

identifying the customer account?

3.17 Can you provide daily images of all checks and remittance advices?



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3.18 If daily images are provided, what formats can be used (e.g., online).

3.19 For a given day’s lockbox activity, at what time of day can you report the total amount that will be credited to the Town’s account?

3.20 Describe your procedure for processing payments from “bill payer” systems that do not include standard remittance documentation.

3.21 Will you provide information in an electronic format that will upload into MUNIS?

3.22 What payment options are available? (EFT, EDI, Check, Automatic Debit, etc.)

3.23 Describe the transition process of lockbox processing from the current provider to you.

3.24 Provide 5 References from the public sector who utilize services with requirements similar to this RFP. Provide the entity name, contact name and phone number.



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SERVICE GROUP 4: PURCHASING CARD PROGRAM 4.1 Describe the financial institution’s ability to provide purchasing card services. 4.2 Provide information on the daily volume processed by the financial institution for all clients.

4.3 What differentiates your service from that of other providers? 4.4 What card platform(s) does your program employ (e.g., MasterCard, Visa, American Express or other)?

4.5 If more than one is used, which would you recommend for the Town and why? 4.6 Provide a detailed overview of the software that supports the company’s commercial card program.

4.7 Specify the levels of data captured by your procurement card. 4.8 Discuss settlement terms. 4.9 What billing cycles are available? 4.10 How will the Town receive billing statements? 4.11 What are the payment terms from “statement date”? 4.12 Describe the card controls and usage restrictions supported by the issuer’s program including but not limited

to: Company level, cardholder level, Department level, Merchant Category Code/Standard Industry Classification (MCC/SIC), Cash advance, Dollar limits, and Limitations to Preferred Suppliers.

4.13 What are the liabilities of the Town and employees in the event of fraud, abuse or loss of a card?

4.14 Provide a rebate schedule for card activity at various usage levels and payment terms.

4.15 Are there any exceptions to the rebate schedule (i.e. large ticket items, etc.)? 4.16 In addition to rebate incentives, how do you partner with customers to achieve further cost reductions?

4.17 Provide examples of successful implementation for clients.



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4.18 What were the organization issues, solutions and results of this implementation? 4.19 Describe customer service support for cardholders. 4.20 Provide any further information about your product offering and capabilities that you feel would facilitate

the evaluation and selection process for the Town.

PROGRAM EXPANSION 4.21 How can you help the Town to expand the use of the purchasing card program? 4.22 Describe your company’s approach and philosophy to consulting with clients. 4.23 What level of consultation is your company prepared to provide to the Town? 4.24 Explain your company’s achievements in collaborating with clients to leverage supplier relations and

program data to drive savings and improve spending control.

REPORTING 4.25 Describe the reporting provided to cardholders and the Town. 4.26 What information is included in the standard report format? 4.27 What online reporting is available? Provide sample reports. 4.28 Describe the electronic data available online that can be downloaded. 4.29 In what format is information available? 4.30 Can charges be broken down by card number and a department number? 4.31 Can individual transactions be automatically coded and for entry into the Town’s accounting system?

4.32 Are any additional reconciliation management tools available? GENERAL INFORMATION+A301

4.33 What are the various services that you provide for the implementation and operation of the purchase card program?

4.34 How is your purchase card different from others? THE PURCHASE CARD

4.35 Can the cards be issued to individuals? 4.36 Can the cards be issued Departments?



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4.37 Can the cards be issued to Cost centers? 4.38 Is there a method of making the card distinct to the Town? 4.39 What options are available for setting transaction limits and total expenditures per card?

4.40 What are the methods of suspension and cancellation? 4.41 What are the various methods of security, control and confidentiality for cards? 4.42 Can controls be applied to individual merchants, in addition to merchant categories?

4.43 What are the steps for fraudulent misuse and seizing a card? 4.44 What Town benefits and vendor benefits would be received by using your purchase card?

FEES 4.45 Will you provide the purchase card program at no cost? 4.46 If there is a fee, please describe? 4.47 Is there a usage incentive discount of rebate? 4.48 If yes, please describe.

PAYMENT OF BILLS 4.49 What are the payment term options of the program? 4.50 What are the payment methods available (EDI, Electronic Funds Transfer, Automatic Debit, Cheque, etc.)?

4.51 What are the available payment terms option with the merchants accepting your product (ie. discount rates, reduced payment terms etc.)?

4.52 What commitment has your institution made toward EDI and the Commercial Credit Card System?

4.53 List billing/payment procedures available. MERCHANTS



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4.54 Please state range of industrial businesses that accept your card? (percentage & number).

4.55 What program, if any, do you have in place to increase your acceptance level with the groups noted in 5.2?

4.56 What fees will you charge the Town’s suppliers? 4.57 Do the fees referred to in 5.4 decline based on the volume of business with a particular vendor? (if yes,

please explain)

REPORTS/STATEMENTS 4.58 Can reports be consolidated by individual/department/vendor? 4.59 Can reports be generated for repetitive purchases and vendor history? 4.60 Can you provide detailed vendor reports of products purchased (for example, large volume vendors)?

4.61 Can exception reports be generated for unusual purchases, dollar values, etc.? 4.62 Please provide samples of reports and statements along with explanations. 4.63 In what format are billing statements/billings provided? 4.64 If statements/billings can be provided by electronic data transmission, would you pay for the computer

interface each board requires for its financial system?

4.65 What are the data options available for statements, ie., taxes, registration numbers, material description, expenditures, etc.?

4.66 What is the frequency of statements? 4.67 Can statements for cardholders be consolidated into one statement? 4.68 Can reports be "customized"? (please explain) 4.69 What kind of reports software do you have? 4.70 What level of tax information can you provide? 4.71 Please identify your communication network with merchants (i.e. data transmission - how is data captured,

keyed in at POS or "swiped").



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4.72 Describe the "mapping" of transactions in detail. Can you allocate charges to specific cost centers?

4.73 Can you supply copies of merchant receipts for each transaction? DISPUTE RESOLUTION

4.74 What are the procedures for dispute resolution? 4.75 How will you facilitate the timely resolution of disputed charges?

DATA RETENTION 4.76 How long are transaction slips retained for? 4.77 How long are statements retained for? 4.78 How long are electronic transmission documents retained for?

LIABILITY 4.79 What would the maximum Town liability be for any unauthorized use of the card? Unauthorized use means

a use that did not benefit the Town and was made by someone other than the cardholder.

4.80 Would Town’s liability for any unauthorized use of the card end when notification of loss, theft, or cancellation has been received by the supplier?

PROJECT MANAGEMENT 4.81 What staff resources will be available for the Town to contact regarding the ongoing administrative

requirements of the purchase card program?

IMPLEMENTATION 4.82 Please indicate the number and type of staff your institution will assign to the Town for the implementation

of this project.

4.83 How long will these people be available to assist with the implementation? Please explain in detail how your institution will work with the Towns current base of vendors to facilitate the implementation of the purchase card.

EXPERIENCE/REFERENCES



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4.84 What experience do you have implementing purchase card programs in other public sector organizations?

4.85 Provide (5) references of public sector customers who have utilized your services, within the last three (3) years, for requirements similar to those described in the Request for Proposal? References should include the name of the organization/firm, contact person's name, and telephone number.

4.86 How many public sector clients in Virginia have terminated services in the last three years?

ADMINISTRATION 4.87 Can card maintenance be performed from a website? 4.88 Does the Town’s card administrator have access to card transactions on line? 4.89 If the administrator has access to card transactions, is this information real time? 4.90 If the administrator’s access is NOT real time, please describe the delay period. 4.91 Can all reports/statements described in section 6 be accessed on demand, on-line?

OTHER 4.92 Provide any other information detailing functionality of your card program (attach a separate sheet if

necessary).



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THIS SECTION PERTAINS TO ALL SERVICE GROUPS

QUALIFICATIONS AND EXPERIENCE 5.1 Provide a general overview and brief history of your organization, including parent and/or subsidiary

companies and the number of employees.

5.2 Provide the address of the office location(s) that will service the account, 5.3 Describe the experience of the financial institution in providing similar services for other governmental

agencies.

5.4 Provide ratings for the bank and bank holding company from at least two of the following agencies: Standard & Poor’s, Moody’s, or Fitch.

5.5 If the Offeror is not rated by two of these rating organizations, provide other evidence of the institution’s credit quality.

5.6 Discuss the firm’s current capital structure, adequacy, and coverage. PERSONNEL

5.7 Provide the name, title, address, phone number, fax number and email address of the primary contact person(s) assigned to this account.

5.8 Provide biographical information on the individuals that will be directly involved in the management of the Town’s account.

5.9 Describe the experience of these employees in working with public agencies. 5.10 Describe the proposed role of each with regard to the Town’s account. (Name the team member who will

be responsible for each proposed Service Group)

5.11 For each individual, show the number of years of experience in this field and the number of years with your firm.

5.12 Describe whether a specific customer service representative or a customer service department will be assigned to handle day-to-day transactions for the Town.

CONTROLS



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5.13 Describe the electronic and/or manual system used to provide the proposed services along with backup and recovery capabilities.

5.14 Describe the bank’s security procedures for its information reporting system, both for access and information protection.

5.15 Describe the types of insurance and bonding carried. 5.16 Include a copy of the bank’s most recent reports issued in accordance with the Statement of Attestation

Standards No.16 (SSAE-16) for any processes or systems relevant to the services under this RFP.

IMPLEMENTATION / CONVERSION 5.17 Provide a conversion plan for transitioning each of the proposed Service Groups to your financial

institution.

5.18 Who will be responsible for coordinating the transition for each of the proposed services?

5.19 Indicate the bank’s plans for educating and training Town employees in the use of your bank’s systems.

NEW SERVICES & IDEAS 5.20 Does the bank offer electronic bill payment services? If so, describe the services offered and the

pros/cons of this service.

5.21 Describe any new services or ideas that will enhance the Town’s utilization of banking services described in Service Groups 1 – 4.

5.22 Please provide any additional information that your bank believes to be pertinent but not specifically requested elsewhere in the RFP.

COST INFORMATION 5.23 Is the bank willing to guarantee the proposed fees for the entire term of the contract (up to seven years)?

If not, for how long are the fees guaranteed?

5.24

Can fees be invoiced to the Town rather than debited directly from the Town’s accounts?



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5.25 If the Town chooses to use compensating balances, are there any charges that could not be paid in this way?

5.26 Provide a complete fee schedule for all of the services described in your financial institution’s proposal using Association of Finance Professionals (AFP) Service Codes, if possible. A list of services currently used with volume levels is provided in Attachment B. Fees related to all services described in the proposal must be listed – even if the service is not shown on the schedule. Also, include any one-time or set-up charges, research fees, minimum fees and all other fees that will be charged. Include any incentives or price breaks offered based on volume, timeliness of payment, rebates or other measures.