The Port of Siuslaw is seeking proposals from qualified banks with offices within the Port District boundaries to provide necessary banking services for the daily operations of the District, and to advise the Commission and staff on financial matters including cash management, investments and related fiduciary responsibilities, for a three year period beginning January 2019.
Responses to this Request for Proposals (RFP) will be accepted by the Port of Siuslaw until 5:00pm, Friday, 26 October 2018, at the Port of Siuslaw Office, 100 Harbor Street, Florence, OR 97439, or emailed to admin@portofsiuslaw.com. The Port reserves the right to accept or reject any or all proposals and to waive any specification or requirement deemed to be adverse to the best interests of the District. Questions about this RFP can be submitted to the Port office, by telephone to (541) 997-3426, by email to admin@portofsiuslaw.com, or by mail to 100 Harbor St, Florence OR 97439.
MINIMUM QUALIFICATIONS
To be considered for selection, proposing bank must have the following minimum qualifications:
- Federal or State of Oregon chartered financial institution with banking facilities located within the Port of Siuslaw District. The institution’s office(s) within the District must be able to offer the full range of services required by this RFP.
- Member of the Oregon Automated Clearing House Association.
- Qualified depository for public funds under ORS 295 and as listed on the Oregon Treasurer’s website.
- Full service bank in good standing among comparable banks.
- Maintain an account with the Oregon State Treasurer to facilitate transfer to and from the Local Government Investment Pool.
- Agree to assign experienced and dedicated staff who are committed and capable of servicing the Port accounts.
- Comply with the Community Reinvestment Act and have a rating of satisfactory or better.
- Be sufficiently capitalized to accommodate District cash/investment management needs.
ACCOUNT DESCRIPTION
The Port has the following accounts:
- General Checking Account is used for the majority of deposits and money transfer activities. The Port of Siuslaw writes approximately 70 checks per month averaging approximately $100,000 total. Checks are generally produced twice a week.
- General Money Market Account is used for deposits and money transfer activities, as well as credit card deposits. The Port of Siuslaw money market account is intended to maximize interest on funds deposited locally. Funds may also be held in the Local Government Investment Pool account.
- Deposit Money Market Account (ICM) in accordance with property management agreements. Deposits for security and other. Accounts are not active but earn interest.
- Savings Account (CMR) is used for money transfer activities. The Port of Siuslaw Capital Reserve Account is a holding account for future capital maintenance projects.
REQUIRED SERVICES AND FORMAT OF PROPOSAL
Please submit proposals in the following format:
Cover Letter: addressing the bank’s willingness and commitment, if selected, to provide the required services, and descriptions of those aspects of the services that distinguish the bank from its competition.
Bank and Staff Profile:
Provide overview of the bank, including information about economic development and community reinvestment programs. Describe the depth of experience the bank has in providing services to the public sector, particularly special districts. Describe the team that will be assigned to service the Port accounts and related duties. Describe how the bank would be convenient to the Port’s operations and what services, if any, are offered to the Port’s employees.
Deposit Processing
The Port has occasional need to obtain duplicate copies of deposited checks and credit card memoranda. The bank must provide these copies within five days of request. The Port requests automatic redeposit of returned items. Items returned a second time should be mailed to the Port within five days of return.
Account Reconciliation
The Port uses its own account reconciliation process and wishes to continue to do so. The Port wishes to receive photocopies of both sides of all cancelled checks.
The bank must provide bank statements and other related reports on a time critical basis. The Port wishes to receive statements that close on last day of the calendar month within seven (7) days the close of each month.
Electronic Funds Transfers
The Port requires the option to transfer funds to, and from, the Local Government Investment Pool, and to transfer funds from various federal and state governmental agencies.
On-line Banking
The Port requires the option to use a personal computer to obtain detailed banking information. Describe the on-line banking system offered by the bank, including security. The Port does not wish to purchase a special program to access the system.
Direct Deposit/Debit
Describe the bank’s capability to accommodate electronic payment and deposit services.
Credit Card Processing/Merchant Services (Optional Service)
Describe the system(s) available for processing credit card transactions.
Notary Public Services
Describe the public notary services available at the bank.
Safe Deposit Services
Describe the safe deposit services available at the bank.
Night Drop Services
Describe the night drop services available at the bank.
Pricing Schedule, Terms and Conditions
Provide in this section the pricing for services proposed by the bank. Use the following format and include fees for the following:
- Account maintenance fees
Zero balance accounts
Deposits and items paid
- Deposit processing
Coin counting
Returned items
- Account reconciliation
Check reconcile fees
- Electronic funds transfer
Incoming and outgoing
- On-line banking fees
- Direct deposit/debit transaction fees
- Credit card processing/merchant service fees
- Notary service fees
- Safe deposit service fees
- Night drop service fees
Include fees for any additional services that may be offered in the bank’s proposal. Include the bank’s contract (if possible) and the method by which fees are collected and pricing adjustments will be calculated. The Port will assume that fees will remain constant throughout the contract period unless otherwise noted.
Investment Services
Describe investment services offered by the bank.
Advisory Services
The Port Commission and Staff may require qualified advice on financial matters including cash management, investments and related fiduciary responsibilities. In addition, the selected bank may be expected to provide a qualified employee to serve on the Port’s Budget Committee. Describe the advisory services available from the bank and the bank’s willingness to serve on the Budget Committee.
Financial Analysis Services
The Port may require qualified financial analysis services to determine the financial viability, credit worthiness and quality of business plans offered by prospective tenants and developers of Port property. Describe the financial analysis services available from the bank and the bank’s willingness to perform such services.
EVALUATION CRITERIA
The Port’s decision to award a contract will be based upon many factors including, but not limited to, service, cost, financial strength and innovation. Evaluation criteria include the following (not in priority order):
- Comprehensive Services Provided
- Public Sector Experience
- Strength, Stability and Resources of the Bank
- Charges for Services
- Credentials and Experience of Staff Assigned to Port Accounts
- Service Enhancements
- Other Factors Believed to be in the Port’s Best Interest
The Port of Siuslaw Board of Commissioners expect to make a decision and award a banking contract on or before 19 December 2018.
The Port of Siuslaw reserves the right to reject any, and all, proposals. The Port also reserves the right to cancel all, or part, of this RFP, waive any minor irregularities and request additional information from proposing banks. By requesting proposals, the Port is not in any way obligated to award a contract or pay expenses of the proposing banks concerning the preparation or submission of a proposal.