School District of Omro
455 Fox Trail, Omro, WI 54963 “Home of the
Foxes”
Bret Steffen Paul Williams Dave Wellhoefer Nick Curran
Principal Principal Principal Superintendent of High School Middle School Elementary School Business Operations
REQUEST FOR PROPOSAL FOR DEPOSITORY AND BANKING SERVICES
INSTRUCTIONS TO BIDDERS General Instructions
The School District of Omro is accepting proposals for banking services and investment account(s). The District proposes that these services be awarded beginning July 1, 2012. Proposals may be submitted for any or all of the accounts listed. A separate proposal sheet must be completed for each account. If you do not wish to submit a proposal for a specific account or accounts, please write “no proposal” on the top of the proposal form and submit it with your completed proposal.
Submission of Proposal
Submit two copies of the proposal, clearly marked RFP RESPONSE – BANKING SERVICES addressed to:
School District of Omro
Attn: Nick Curran, Superintendent of Business Operations 455 Fox Trail
Omro, WI 54963
Proposals must be received by 3:00 PM on Friday, February 3, 2012. Late submissions will not be accepted and will be immediately destroyed.
Contract Award
It is anticipated that the District will review all proposals in February and the School Board will take action if they desire to do so during the month of March.
The School District of Omro reserves the right to accept or reject any or all proposals and to accept the proposal or combination of proposals that it deems most advantageous to the District.
SERVICE REQUIREMENTS District Requirements
1. Account statements shall state the date of each deposit and the amount.
2. Bank statements shall be cycled after processing on the last business day of the month and be available to the District no later than the second business day of the following month. Statements must list checks in numerical order. Cancelled checks or imaged statements must be returned to
3. Protection beyond the $500,000 F.D.I.C. and state insurance must be provided in
accordance with the provisions of Chapter 34 of the Wisconsin State Statutes and Board
Policy.
4. Compliance with all other applicable State and Federal Statutes is required.
5. The District will be offered any new investment or management procedure that may
occur.
6. All fees and other charges for each account must be identified.
7. The bank shall have assigned personnel available to answer questions pertaining to the District’s transactions which require more explanation. In addition, the bank shall provide the name and direct telephone number of the bank officer with the overall management responsibility for the account relationship.
8. The bank shall provide the District with deposit bags for daily deposits. 9.
Bank Branch Location
The School District of Omro bank accounts are to be maintained at a branch in the City of Omro offering a full range of services and within a reasonable distance from the District. Please provide the location of the branch you are proposing as the School District of Omro’s main branch.
ACCOUNT INFORMATION
Please submit proposals for any or all of the following accounts Payroll Checking Account
A. This account will be used to meet the payroll needs of the District with money deposited on an “as needed” basis.
B. The bank must have the capability to originate ACH transactions. C. The bank must accept electronic payroll files. .
General Checking Account
A. This account will be used to deposit miscellaneous revenue on a daily basis.
B. Checks for the District’s accounts payable transactions are written from this account. C. The bank must have the capability to originate ACH transactions.
High School Student Activity Checking Account
A. This account will be used for depositing all monies in the High School Student Activity Funds.
B. All checks for the High School Student Activity Fund expenses would be written from this account on a weekly basis.
Middle School Student Activity Checking Account
A. This account will be used for depositing all monies in the Middle School Student Activity Funds.
B. All checks for the Middle School Student Activity Fund expenses would be written from this account on a weekly basis.
High School Student Activity Savings Account
A. This account will be used as an investment/savings account for all High School Student Activity Funds not needed in the checking account.
Scholarship Savings Account
A. This account will be used as an investment/savings account for all scholarship funds under control of the District. Deposits will be made as needed.
Scholarship Investment CD
A. A flexible investment CD should be available for funds not immediately needed in the
Scholarship Savings Account. The District has had no trouble maintaining a 6 month CD in the past, however, there should be flexibility to open the CD early in the event funds are needed for scholarship payments.
Debt Services Saving Accounts
A. This account will be used as an investment/savings account for all funds related to debt service tax payments.
Depository/Investment Account
A. This account would receive incoming wires from the Department of Public Instruction for equalization aid, categorical aid, and grant payments as well as monies received from other sources (such as property taxes) which are not immediately needed for expenditures.
B. Money would be wired and/or transferred out on an “as needed” basis. Money may also be invested in other accounts for investment purposes.
C. It is acceptable to combine Depository/Investment and General Accounts. Fund 21 Donation Saving Accounts
A. This account will be used as an investment/savings account for all funds related to Fund 21 donations to the District.
School District of Omro
DEPOSITORY AND BANKING SERVICES PROPOSAL
1. GENERAL INFORMATION: Name of Bank _________________________________ Branch Location _________________________________ _________________________________ Date _________________________________ Bank Contact _________________________________ Title _________________________________ Telephone # _________________________________ Signature _________________________________
2. Statement of how protection beyond $500,000 F.D.I.C. and State insurance will be provided.
3. Does your institution provide Internet banking services? Yes No (Circle)
Are on-line transfers available? Yes No (Circle) Additional Information:
Provide detail regarding any fees associated with these services:
(List any additional information/charges on an attached sheet)
4. Please submit a proposal form for each account. If you are not interested in providing services for a specific account or accounts, please write “no proposal” on the top of the proposal form for that account and submit it with your completed proposal.
5. In addition to completely the enclosed proposal sheets you are encourage to provide further information for any additional services your bank offers that maybe beneficial to the District.
6. ALL FEES CHARGABLE TO THE DISTRICT ASSOCIATED WITH THE BANKING
SERVICES THE DISTRICT RECEIVES MUST BE DOCUMENTED IN YOUR PROPOSAL. 7. Should you have any questions or concerns please contact Nick Curran at 920-685-5666 x301.
PROPOSAL FOR PAYROLL CHECKING ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per check written $___________
Charge per deposit $___________
Charge per item deposited $___________
Charge for deposited check returned $___________
# of times check is deposited ___
If more than 1, charge for redeposit? $___________
Stop payment fee $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Check sequencing fee (if check are returned) $___________
Minimum balance required? $___________
Capable of originating ACH transactions? Yes No (Please Circle)
ACH Related Fees: $___________ Per File
$___________ Per Item $___________ Other
Accept ACH files via e-mail? Yes No (Please Circle) Please list any other charges and amounts:
___________________________ $___________
Interest to be paid __________%
Describe the manner in which interest earnings on this account will be calculated: 360 days or 365 days (please circle)
_______________________________________________________________________________________
PROPOSAL FOR GENERAL CHECKING ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per check written $___________
Charge per deposit $___________
Charge per item deposited $___________
Charge for deposited check returned $___________
# of times check is deposited ___
If more than 1, charge for redeposit? $___________
Stop payment fee $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Check sequencing fee (if checks are returned) $___________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Interest to be paid __________%
Describe the manner in which interest earnings on this account will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________ ____________________________________________________________________________
PROPOSAL FOR HIGH SCHOOL STUDENT ACTIVITY CHECKING ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per check written $___________
Charge per deposit $___________
Charge per item deposited $___________
Charge for deposited check returned $___________
# of times check is deposited ___
If more than 1, charge for redeposit? $___________
Stop payment fee $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Check sequencing fee (if checks are returned) $___________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Interest to be paid __________%
Describe the manner in which interest earnings on this account will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________ ____________________________________________________________________________
PROPOSAL FOR MIDDLE SCHOOL STUDENT ACTIVITY CHECKING
ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per check written $___________
Charge per deposit $___________
Charge per item deposited $___________
Charge for deposited check returned $___________
# of times check is deposited ___
If more than 1, charge for redeposit? $___________
Stop payment fee $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Check sequencing fee (if checks are returned) $___________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Interest to be paid __________%
Describe the manner in which interest earnings on this account will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________ ____________________________________________________________________________
PROPOSAL FOR HIGH SCHOOL STUDENT ACTIVITY SAVINGS ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per deposit $___________
Charge per item deposited $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below:
What is the cutoff time for deposits, wires,.. ____________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Type of investment for indexing funds ___________________________________
Basis to be used _____________________ Percent to be paid _______% Describe, in detail, the manner in which interest earnings will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________
____________________________________________________________________________
PROPOSAL FOR SCHOLARSHIP SAVINGS ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per deposit $___________
Charge per item deposited $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below:
What is the cutoff time for deposits, wires,.. ____________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Type of investment for indexing funds ___________________________________
Basis to be used _____________________ Percent to be paid _______% Describe, in detail, the manner in which interest earnings will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________
____________________________________________________________________________
PROPOSAL FOR SCHOLARSHIP INVESTMENT CD
School District of Omro
Maintenance charge $___________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Terms to be used _____________________ Percent to be paid _______% Describe, in detail, the manner in which interest earnings will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________
____________________________________________________________________________
PROPOSAL FOR DEBT SERVICES SAVINGS ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per deposit $___________
Charge per item deposited $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below:
What is the cutoff time for deposits, wires,.. ____________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Type of investment for indexing funds ___________________________________
Basis to be used _____________________ Percent to be paid _______% Describe, in detail, the manner in which interest earnings will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________
____________________________________________________________________________
PROPOSAL FOR DEPOSITORY/INVESTMENT ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per deposit $___________
Charge per item deposited $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below:
What is the cutoff time for deposits, wires,.. ____________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Type of investment for indexing funds ___________________________________
Basis to be used _____________________ Percent to be paid _______% Describe, in detail, the manner in which interest earnings will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________
____________________________________________________________________________
PROPOSAL FOR FUND 21 DONATION SAVINGS ACCOUNT
School District of Omro
Maintenance charge $___________
Charge per deposit $___________
Charge per item deposited $___________
Wire transfer fee:
Incoming $___________
Outgoing $___________
Any limitations/restrictions on number or dollar amounts of wires (in or out)? Yes No (please circle) If yes, please elaborate below:
What is the cutoff time for deposits, wires,.. ____________
Minimum balance required? $___________
Please list any other charges and amounts:
___________________________ $___________
___________________________ $___________
Type of investment for indexing funds ___________________________________
Basis to be used _____________________ Percent to be paid _______% Describe, in detail, the manner in which interest earnings will be calculated: 360 days or 365 days (please circle)
____________________________________________________________________________
____________________________________________________________________________