REQUEST FOR PROPOSAL RFP# B0007433
BANKING SERVICES
RESPONSES MUST BE DELIVERED TO THE FOLLOWING: Matthew Pike
Procurement & Payment Services 311 Ingram Hall
Auburn University, AL 36849 By
10:30 AM CDT
Release of RFP: 05/01/2015 Proposal Response Due Date: 06/03/2015
REQUEST FOR PROPOSAL BANKING SERVICES TABLE OF CONTENTS
I. Overview II. RFP Objectives
III. Minimum Qualifications IV. Expression of Interest
V. Selection Process VI. Contract
VII. Process Schedule VIII. Submission Proposal
IX. Required Proposal Information and Format X. General Terms and Conditions
XI. Exhibits
a. Statements of Qualifications
b. Description of Services and Miscellaneous Information c. Interest Calculations
REQUEST FOR PROPOSAL BANKING SERVICES AUBURN UNIVERSITY
Release Date: 05/01/2015 Proposal due date: 06/03/2015
I. Overview
Auburn University is soliciting proposals from a qualified financial institution to provide cash management banking services for the University’s Operating Accounts, Payroll Accounts, and other related checking accounts. The length of the proposed contract with the successful respondent will be five (5) years from the implementation date with options to extend. It is expected that prices quoted for the specified services remain firm for the duration of the contract.
The scope of your proposal should be comprehensive as it is the desire of Auburn
University to utilize banking products and services of the highest quality and those of the most benefit to Auburn University. The University currently utilizes an interactive on-line banking system for balance reporting, transaction detail, account transfers, ACH origination, wire transfers, stop payments, positive pay and controlled disbursement reporting.
Auburn University is Alabama’s Land Grant University with campuses located in Auburn and Montgomery, Alabama. Enrollment of undergraduate and graduate students for Fall, 2014, is 25,912. The University employs in excess of 13,000 persons. The Operating Budget for the fiscal year beginning October 1, 2014 will exceed $1,000,000,000.
This Request for Proposal (RFP) is not an offer to contract but seeks the submission of proposals from qualified, professional financial institutions that may form the basis of a
contract or agreement. The University reserves the right to accept or reject any or all proposals submitted.
II. RFP Objectives.
• Select a provider who offers product solutions that will support and enhance the University’s current and future banking needs.
• Select a provider who employs advanced technology in its own processes and who will help the University apply technology to improve its processes.
• Establish optimal pricing for the banking services defined within this RFP
• Seek innovative and creative approaches to banking services to enhance efficiency and/or reduce cost
• Utilize banking services that will improve processing efficiency and control.
III. Minimum Qualifications.
1. The Bank must be a bank organized and existing under the laws of Alabama, any other state of the United States, or the United States, and is authorized pursuant to the laws of Alabama or the United States to conduct and is conducting the business of making loans and taking deposits in Alabama.
2. The Bank may not be in conservatorship, in receivership, or in the possession of a regulatory agency.
3. The bank must have deposit insurance under the provisions of the Federal Deposit Insurance Act.
4. The Bank must be a member of the Federal Reserve System.
5. The Bank must be a member of the National Automated Clearing House Association (NACHA).
6. The Bank must be designated as a Qualified Public Depository under the SAFE Program.
7. The Bank must maintain an office or branch within a five mile radius of the Main Campus located in Auburn, Alabama, and an office or branch within a five mile radius of the AUM campus located in Montgomery, Alabama for the purpose of accepting daily deposits and other routine banking services.
8. The Financial statements of the Bank must be audited annually by an independent certified public accounting firm and an unqualified opinion must be issued by the auditor in connection with the audit.
9. The Bank carries errors and omission insurance or a comparable instrument to cover the firm’s negligent acts or omissions.
10.The Bank maintains sufficient procedures and redundancy capabilities to assure continued processing in an emergency.
11.The Bank is committed to work closely and cooperatively with the Office of Cash Management to facilitate the implementation of any enhancements or modifications required by the University.
IV. Expression of Interest.
If your bank is considering bidding on the RFP, please email to rlm0031@auburn.edu: • Your name • Title • Bank name • Telephone number • Email address • Fax number
Submission of your interest is not a prerequisite for submitting a proposal, but it is necessary to ensure future communications regarding the RFP.
V. Selection Process
As outlined in Board Policy, a Selection Committee of University Personnel will meet to review the Proposals submitted in response to this Request for Proposal. Each Proposal submitted must be signed by an official of the institution who is authorized to bind the offer. The solicitation for proposals does not commit Auburn University to award a contract to pay any cost incurred in the preparation of the proposal. The University reserves the right to select any proposal it deems in its best interest. Further, the University may accept or reject any or all proposals received and waive any formalities in the evaluation process.
Criteria to be used in the evaluation process include, but are not limited to the following:
• Compliance with RFP Requirements • Interest Paid
• Fees
• Financial Condition, Experience, and References • Customer Service and Creative Solutions
The University, at its discretion, may request any or all responding financial institutions to make oral presentations. The University will schedule the time and location if presentation is deemed necessary.
VI. Contract
The contract term shall be for a period of five (5) years and, upon agreement by both parties, the contract may be extended for a mutually agreed period, not to exceed ten (10) years total. The implementation date will be as soon as practical, no later than August 1, 2015. Should the University need additional accounts or services during the life of the agreement, those new accounts or services shall be provided under the same conditions applying to existing accounts at the time. No increases in quoted unit prices will be made and no additional charges shall be added to items or services in the original proposal that remain unchanged. The University may renegotiate such additions, deletions, or changes as may be necessitated by law or changed circumstances. The successful respondent is encouraged to present new or enhanced products and services for consideration by the University during the life of the agreement.
The University reserves the right, in its sole discretion; to terminate the contract that results from this RFP with thirty (30) days written notice to the successful bank should the agreement no longer be deemed beneficial to the University.
State Law prohibits the University from agreeing to (1) indemnify the Bank; (2) waive the right for jury trial; (3) grant security interest; or (4) binding arbitration. Additionally, it is mandatory that Alabama laws apply to the performance of the contract and that jurisdiction and venue be in Lee County, Alabama for state and federal courts.
VII. Process Schedule.
Issuance of Request for Proposal May 1, 2015
Submission of Questions May 11, 2015
Responses to Questions May 15, 2015
Submission of Written Proposals June 3, 2015
Final Selection TBD
Implementation August 1, 2015 (estimated)
VIII. Submission of Proposals.
Completed proposals shall be delivered by 10:00 AM CDT, Wednesday, June 3, 2015, to: Matthew Pike
Procurement and Payment Services 311 Ingram Hall
Auburn University, AL 36849
If delivered after the above referenced time, responses must be delivered to the following address by 10:30 AM CDT:
138 South Gay Street Suite A Auburn, AL 36830
*Any response received after the opening time of 10:30 AM CDT will be disqualified.*
Please provide an original response and nine (9) copies to facilitate our evaluation process. Proposals received after the time and date specified above will not be considered. The response may be emailed by the submission deadline with the paper documents delivered the next
business day.
Questions and inquiries should be emailed to pikemat@auburn.edu and must be submitted by TBD. The subject line should be: Banking Services RFP. Any oral communications shall be considered unofficial and nonbinding on the University. Written responses will be copied to all respondents submitting an expression of interest.
IX. Required Proposal Information and Format.
1. Brief transmittal letter
2. Statement of Qualifications, signed by an official of the institution who is authorized to bind the offer
3. Description of Services and Miscellaneous Information 4. Statement of Interest Calculation
5. Statement of Fees
All respondents should read the following information carefully and respond no later than the stated deadline of 10:30 AM CDT, Wednesday, June 3, 2015.
V. General Terms and Conditions
1.0 – General Terms and Conditions
1.1 – These terms and conditions are hereby incorporated into this quote/bid and apply in like force to any subsequent contract order resulting from this bid quote/bid. Some conditions listed herein may not apply due to the nature of the product or service, or the manner in which it is procured.
1.2 – Whenever and wherever items of materials or equipment have been identified by describing a proprietary product, the identification is intended to be descriptive, but not restrictive, and is used to indicate the quality and characteristics of products that will be satisfactory to the
University. Bids offering equal or alternate materials and equipment will be considered for award provided such items are clearly identified in the bids, and are determined by Auburn University to be of equal value in all material respects to the proprietary items specified.
Unless the firm submitting the bid has clearly indicated in its bid that it is offering an “equal,” or “alternate” items the bid shall be considered as offering the items as specified in the invitation for bids/ quotations.
If the firm submitting the bid plans to furnish an equal or alternate items , the brand name and identifying numbers and/or letters are to be inserted in the spaces provided or shall be otherwise clearly identified in the bid. The evaluation of the bids and the determination as to quality of the product offered shall be the responsibility of Auburn University. The bid award shall be based on the information furnished by the bidder or identified in the bid, as well as information reasonably available to the Procurement Services.
1.3 – The University will consider acceptable substitutes that meet, or exceed the quality of materials and workmanship of the items specified in the bid/quotation. Substitutions shall be of the same general design, size and style.
All proposed substitutes submitted must be accompanied by illustrations showing the design and style. Each illustration is to have on it, or attached to it, the item number of the specified piece to which it is an alternate. Sizes shall also be included.
All substitutes shall be listed in the spaces provided. Should additional space be required, the bidder shall use separate sheet of paper to list alternates. Any additional list should be prepared in like form to the bid document.
Auburn University will consider all proposed; however, it is not bound to any which, in the University’s opinion, is not in the University’s best interest.
1.4 – Any deviation from these general terms and conditions or exceptions taken shall be described fully and appended to the bid form on the bidder’s letterhead and over the signature of the person authorized to sign the bid form. Such appendages shall be considered part of the bidder’s bid form. In the absence of any statement of deviation or exception, the bid shall be accepted as being in strict compliance with all terms and conditions.
1.5 – There are no Federal or State laws that prohibit vendors from submitting bids/quotes lower than a price or bid given to the U. S. Government.
1.6 – The successful bidder may be required to furnish a monthly or quarterly summary of purchases made under the provision of the contract. The format and frequency of the report will be determined by the University.
1.7 – Auburn University reserves the right to require a performance bond from the successful bidder at the discretion of the University’s Procurement Professional. Unless specifically to the contrary in the bid documents, the cost of the bond shall be paid for entirely by the successful bidder.
When required, the proper and timely submission of any performance and payment bonds is a material condition for award/performance of this order. Vendor is not authorized to proceed with work and/ or deliveries unless all required bonds have been obtained, are acceptable to and received by the University.
1.8 – Failure of the successful bidder to adhere to delivery schedules as specified or to promptly replace rejected materials shall render the successful bidder liable for the difference between the “open market” and the quoted price where emergency purchases become necessary.
1.9 - Any and all items received under a resulting contract will be subject to inspection and testing to determine the quality and to ascertain that they meet specifications.
1.10 – Samples, when required, must be furnished free of expense after the opening of the bid and if not destroyed, will upon request, be returned at the bidder’s expense. Request for the return of samples must be made within ten days following the opening of bids/quotations, unless otherwise stated. Each individual sample must be labeled with the bidder’s name and item number.
1.11 – Deliveries shall be F.O.B. Auburn University (destination). Delivery by the successful bidder to the common carrier will not constitute delivery to the University.
1.12 - Successful bidder must agree to replace, free of charge, all defective items delivered under contract. All transportation charges covering return and replacement of items is to be done by the successful bidder.
1.13 - Payment for any item delivered may be withheld until all items and conditions have been complied with in full.
1.14 - It is agreed and understood that the bidders may attend the bid opening and may inspect the bid tabulation. However, no information will be given out as to opinion concerning the ultimate outcome while consideration of the award is in progress. Information regarding disposition will be available after an award is made and upon request.
1.15 – The successful bidder shall maintain, or have available for his own use, an inventory sufficient to make delivery within the time specified in this bid/quotation, provided that no default shall occur to deliver in less than the number of days stated in this bid/quotation from the date of receipt of notice to ship/deliver.
1.16 – Auburn University is not necessarily bound to accept the lowest bid if that bid is contrary to the best interest of the University. In making an award, intangible factors such as the service capability, integrity, facilities, equipment, reputation and past performance of the firm submitting the bid may be weighed. When other factors are clearly stated in the bid document, they will also be used in determining an award.
In the case of a tie for low cost, the Procurement Official may use the following: If one of the bidders has an existing contract and performance on an existing contract is satisfactory, this bidder gets the award.
Conversely, if performance on an existing contract is documented as not satisfactory, award goes to the other tie bidder. If one tie bidder is local, preference may be given to that bidder.
1.17 – All additional charges such as shipping, installation, insurance or other cost must be fully itemized with the bid/quote. Charges not specified at the time of the bid/quote will not be honored.
1.18 – It is mutually agreed by and between Auburn University and the bidder that the
University’s acceptance of the bidder’s offer by the issuance of a Purchase Order shall create a contract between the two parties. Any exceptions taken by the bidder, which are not included in the Purchase Order, will not be a part of the contract. Therefore, in the event of a conflict between the terms and conditions of this bid/quote and information submitted by a bidder, the terms and conditions of this bid/quotation and resulting Purchase Order will govern.
1.19 – The successful bidder must provide service manuals with full documentation and schematics when applicable and appropriate.
1.20 – The apparent silence of this specification and any supplemental specifications as to any details, or the omission from it of a detailed description concerning any point shall be regarded as meaning that the best commercial practices are to prevail, and that only materials of first quality
and correct type, size, and design are to be used. All workmanship is to be first quality. All interpretations of this specification shall be made on the basis of this statement.
1.21 – Should it become necessary in order to evaluate a bidder’s qualifications, the University may require the bidder to furnish information as indicated below:
1. Financial resources 2. Personnel resources
3. Executive or key person resumes
4. Evidence of ability to meet delivery schedule 5. Ability to meet specification quality requirements 6. Availability of production capacity
1.22 – In the event that the successful bidder fails to make delivery of acceptable goods on or before the agreed delivery date and the University expends unreasonable time, effort, telephone calls and correspondence, the University will bill the supplier at a reasonable cost for such and deduct it from the applicable invoice.
1.23 – Any Purchase Order/contract resulting from this bid/quotation can be cancelled without penalty if any of the following conditions exist:
a. Breach of contract
b. The vendor fails to furnish a satisfactory performance bond within the time specified when such a bond is required.
c. Failure of the vendor to make delivery within the time specified.
d. In the event material, supplies or equipment furnished does not meet specifications.
e. Where the contract was obtained by fraud, collusion, conspiracy or any other unlawful means. The Purchase Order/contract may also be cancelled by convenience by any party. The effective date of cancellation shall be thirty days of written notice of intent by one of the parties. The vendor will, however, will be required to honor all orders that were prepared and dated prior to the date of cancellation, if required to do so by the University.
1.24 – The University reserves the right to award as many term contracts for the supply of any class or type of commodity as may be to the best interest of the University.
1.25 – This section will apply when items in the bid/quotation are requested to be on a “furnish and install” basis. The successful bidder will have the complete responsibility for the items or system until it is in place and working. Any special installation preparation and requirement will be submitted to the University after the receipt of a purchase order. All transportation and
cooperation arrangements will be responsibility of the successful bidder. The delivery of
equipment will be coordinated so that items will be delivered directly to the installation site. This will minimize the risk of damage and avoid double handling by University personnel.
1.26 – Any alleged oral agreement made by a bidder or contractor, with any university department or employee will be disregarded.
1.27 – Prompt payment discounts (“cash discounts”) will not be considered in determining the lowest bidder.
1.28 – Successful bidder may be required to furnish policies or certificates of insurance, with Auburn University, its Board of Trustees, Faculty, Staff, and agents named as additional insured, as follows:
1. a. Workman’s Compensation – Statutory b. Employer’s Liability - $1,000,000.00
2. Comprehensive General Liability a. General Aggregate - $1,000,000.00 b. Products-Complete - $1,000,000.00 Operations Aggregate
c. Personal & Advertising - $1,000,000.00 injury d. Each occurrence or single limits of - $1,000,000.00
3. Automobile Liability
a. Bodily injury - $1,000,000.00 Each Person $1,000,000.00 Each Occurrence
b. Property damage or combined single
$1,000,000.00 each occurrence limit of $1,000,000
Due to the nature of some projects, Auburn University reserves the right to require additional limits of liability coverage.
1.29 - Successful bidder agrees to comply with the conditions of all applicable Federal Non-Discrimination and Equal Opportunity laws, the Federal Occupational Safety and Health Act of 1970 (OSHA), the Washington Industrial Safety Act of 1973 (WISHA), as amended, and the
standards and regulations issued there under, and certifies that all items furnished and purchased will conform to and comply with such applicable standards and regulations. All applicable contracts will comply with the Davis-Bacon Act.
1.30 – ADVERTISING. No advertising or publicity matter having or containing any reference to Auburn University or any of its faculty/staff shall be made by successful bidder or any one in successful bidder’s behalf unless successful bidder has written consent of the University. No public release of information, news release, announcement, denial or confirmation of this order or the subject matter hereof, shall be made without the University’s prior written approval.
1.31 - LAW. The laws of the State of Alabama shall govern any order, and the venue of any action brought hereunder may be laid in or transferred to the County of Lee, State of Alabama. 1.32 – PAYMENT TERMS. Unless otherwise specified in the purchase Order/contract terms of payment are “Net 30 days.”
1.33 – INSOLVENCY. If vendor ceases to conduct normal business operations (including inability to meet its obligations), of if any proceedings under bankruptcy or insolvency laws is brought by or against vendor, or a receiver for vendor is appointed or applied for, or vendor makes an assignment for the benefit or creditors, the University may terminate this order, without liability, except for deliveries previously made and for supplies completed and subsequently in accordance with the terms or the order. In the event of the vendor’s insolvency, the University shall have the right to procure the balance of this order from others without liability.
1.34 - CANCELLATION FOR LACK OF FUNDING. This purchase order/contract may be cancelled without further obligation on the part of Auburn University in the event that sufficient, appropriated funding is unavailable to assure full performance of its terms. The Vendor shall be notified in writing of such non-appropriation at the earliest opportunity.
1.35 - Contractor certifies that neither it, nor any of its employees who will provide or perform services under this contract, have been debarred, suspended, or declared ineligible as defined in the Federal Acquisition Regulation (FAR 48 C.F.R Ch 1 Subpart 9.4). Contractor will
immediately notify the University if the Contractor or any of its employees who will provide or perform services under this contract is placed on the Consolidated List of Debarred, Suspended, and Ineligible Contractors.
Exhibit A
STATEMENT OF QUALIFICATIONS
1. The Bank is a bank organized and existing under the laws of Alabama, any other state of the United States, or the United States, and is authorized pursuant to the laws of Alabama or the United States to conduct and is conducting the business of making loans and taking deposits in Alabama.
Yes No
2. The Bank is not in conservatorship, in receivership, or in the possession of regulatory agency.
Yes No
3. The Bank has deposit insurance under the provisions of the Federal Deposit Insurance Act.
Yes No
4. The bank is a member of the Federal Reserve System. Yes No
5. The Bank is a member of the National Automated Clearing House Association (NACHA).
Yes No
6. The Bank is designated as a Qualified Public Depository under the SAFE Program. Yes No
7. The Bank maintains an office or branch within a five mile radius of the Main Campus Located in Auburn, Alabama and maintains an office or branch within a five mile radius of the AUM Campus located in Montgomery, Alabama for the purpose of accepting daily deposits and other routine banking services.
Yes No
Address in Auburn
______________________________________________________________ Address in Montgomery
__________________________________________________________
8. The Financial statements of the Bank are audited annually by an independent certified public accounting firm and an unqualified opinion must be issued by the auditor in connection with the audit
Yes No
9. The Bank carries errors and omission insurance or a comparable instrument to cover the firm’s negligent acts or omissions.
Yes No
10.The Bank maintains sufficient procedures and redundancy capabilities to assure continued processing in an emergency.
Yes No
11.The Bank is committed to work closely and cooperatively with Treasury to facilitate the implementation of any enhancements or modifications required by the University. Yes No
Primary Contact Concerning the Proposal: Name: _______________________________________ Address: _____________________________________ Phone number: ________________________________ Email: _______________________________________ Fax: _________________________________________
By signing this Exhibit, I certify that I am authorized to bind the company and that the foregoing information is correct and true.
Signature: _____________________________________ Date: _________________________________________
Exhibit B
DESCRIPTION OF SERVICES And
MISCELLANEOUS INFORMATION
Please address each of the items below in your response including, where appropriate, associated costs and ability to comply.
• Please provide a copy of you most recent audited statement.
• Please provide a brief overview of your bank, including corporate profile, ownership structure, financial condition and overall business objectives. Please state Total Capital and both Moody’s and Standard & Poor’s short and long term debt ratings.
• Describe your general backup procedures in the event of an in-house system failure or a material business disruption (expected to impact operations for more than 8 hours).
• Provide the following reference information for at least three Universities or other entities relative to Auburn University in size: Name, address, contact person, telephone number and length of relationship in years.
• The University will expect the successful respondent to supply various supplies such as coin wrappers, bill straps, vault and branch cash orders, and printed deposit tickets at no charge.
• The University currently has 7 departments that use Remote Deposit. It is expected that the number of departments that uses Remote Deposit will increase in the near future. The University expects the successful respondent to include in their pricing and offer Remote Deposit Machines at no cost. It is also expected that the installation and setup of these machines are at no cost to the University.
• The University currently utilizes an interactive on-line banking system. This system includes current day and previous day balance reporting, daily
transactions, account detail history, Electronic Data Interchange (EDI) reporting, deposits and deposited items reporting. This system is utilized for stop payments, book transfers, wire transfers, ACH origination and validation of pass-through ACH files. Please describe your on-line banking system, and related costs, and any technical requirements of the University.
• Does your bank process same day ACH?
• The University requires written backup from its bank for all transaction activity recorded to its bank accounts and generated by the bank. Debit or credit advices resulting from deposit corrections must be supported by a copy of the associated deposit slip. Returned checks and associated debit advices as well as deposit corrections should be delivered to the designated branch daily for pick-up by University personnel.
• The monthly bank statement should include a hard copy of all such advices as described above. The bank statement should include a listing of the deposit slips. Cleared checks should be provided on CD Rom. Bank Statements cut-off is the last business day of each month. Describe the timeline and method for delivery. • Depository Services. The University receives funds through its central depository
office, the Office of Student Financial Services, as well as other departments and agencies of the University. It is important that the identity of each deposit be captured by the bank. Returned Deposit Items should automatically be
re-deposited. If deposited items do not clear after the second presentment, it should be charged to a designated “Returns Account”.
• Availability of Funds. Briefly describe how the bank computes the availability of funds and include the availability schedule. Please indicate the latest time of day at which deposits may be made to take advantage of the proposed funds
availability schedule. Are any special clearing options available for large items (i.e. a check in excess of $1,000,000)?
• Stop Payments. Ability to inquire and enter on-line is required. Ability to view and print copies of cleared items is required. Currently the University does not pay a fee to enter a stop payment on-line.
• Positive Pay. Required for the Operating and Payroll Accounts. Describe the format and method for the transmission of positive pay data. Describe options for clearing Positive Pay records. Describe options for a single addition to the
Positive Pay file should it be necessary. Notice of a positive pay exception is currently received by fax at no charge.
• Reconciliation Services for the Operating and Payroll Accounts. Please explain in detail this service and any technical requirements placed on the University.
• Delivery of EDI information. Please discuss method of delivery and timeliness.
• ACH Initiation. The University submits the payroll files via direct transmission. Daily two Vendor files and two WEB files are Validated and transmitted via the on-line banking system. Treasury may generate daily cash concentration
transactions via the on-line banking system. Over the past year the highest daily usage of ACH CR was near $33,000,000 and ACH DR was near $20,000,000. Currently Notices of Returns and Notifications of Changes are received by fax at no charge. Describe the system(s) available for ACH transmission. Describe the submission, processing, and verification process. Describe your bank’s process for reversing and deleting items. Can your bank accept and process PPD, CTX, and/or CCD files for next day credit?
• The University is interested in supplying faculty/athletes with a prepaid
credit/debit card for out of town expenses. Each card will need to have its own credit limit. These credit/debit cards will need the capability to have money added to them and canceled at the University’s request. Tell us about a product that you offer that can accommodate the University in this capacity.
• Wire Transfers. Wires are currently generated either from the on-line banking system or may be manually called in to the wire transfer department. Currently notification of incoming and outgoing wires is received by fax at no charge. Repetitive templates are utilized whenever possible.
• International Wires. The University currently generates international wires in both US Dollars and International currencies. Briefly discuss how you would service this need. Do you offer an on-line international payment system? • Overdraft. Explain your willingness, capability, and/or products to review the
University account could offset any other University account which is in overdraft status. Describe your treatment of Daylight Overdrafts.
• Reserve Requirement. What is the percentage charged? On what balance is it accessed?
• Disbursement Account. If an account is opened to handle disbursements only, what services would you offer to manage this account, such as zero balance or sweep?
• Customer Service and support are very important factors in the selection process. Please describe your plan to support the University during the transition period and on an ongoing basis. Will key personnel be identified for the University’s accounts?
• Currently the University pays its bank fees through analysis. Please provide how your Earnings Credit Rate (ECR) is established and calculated.
Discuss any creative approaches of banking services which have not been specifically requested or would enhance and/or reduce costs. Also include any new technology or proprietary products which you believe would be beneficial to the University.
Auburn University is interested in maintaining quality banking services while exploring new products and services to better manage the cash and improve efficiency and control through technology and knowledge.
Exhibit C
INTEREST CALCULATION
The average collected balance for the University’s accounts for the period of October 1, 2013 through September 30, 2014 was $3,483,320.
The University prefers that interest be paid on some available balances of the University accounts. Please describe how your bank would accomplish this.
How would the interest rate be established and calculated?
On what balance would interest be paid (i.e. the ledger, collected, or net collected balance; on daily balances or average daily balance)?
Please give an example of the calculation.
Should a negative balance occur, how would it be handled? If charged, how is the rate determined? Should a charge be incurred, can it be netted against interest earned on positive balances?
Could payment of the interest be offset with fees due for banking services and the difference paid or received on an annual basis?
Exhibit D Fees
The following information is provided to assist the respondents in the preparation of their proposals. The data below represents an average month’s activity during the period October 1, 2013 through September 30, 2014. It includes activity for all ten (10) checking accounts currently maintained. These ten (10) accounts consists of one (1) disbursement account, one payroll account, three (3) depository accounts (one for Main campus and one for the AUM campus), two return item accounts, and three petty cash accounts. Disbursements for the payroll account are near 100% ACH. Funding for the payroll account will come from the Main
depository account on the pay date. There are (5) five payrolls processed each month.
Checks and Other Debits 4,626
Electronic Debits 170
Deposits and Other Credits 521
Electronic Credits 626 Deposit Items-On us 1,273 Deposit Items-Local 6,140 Deposit Items-Regional 1,703 Deposit Items-Other 2,101 Wire Transfers-Incoming 60 Wire Transfer-Outgoing 16 International Wires-Outgoing 8 Return Items 36
Rerun Deposited Items 36
Stop Payments 80
ACH files processed-Payroll 5 ACH files processed-on-line 101
ACH Items 26,820
ACH Returns 101
ACH Notifications of Change 180 Average Collected Balance $3,483,320
Please furnish a unit price for each of the items listed above. Please state the percentage of Reserve Requirement. Will there be an FDIC Assessment?
The listing above is not expected to be all inclusive of your fees. If there are other charges than those requested in Exhibit D, they should be noted, clearly defined, and included in the Statement of Fees section of your proposal. Any charges for services not addressed in the Statement of Charges in your proposal will not be allowed during the course of the contract.
