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JEFFREY R. SMITH, CPA, CGFO, CGMA <br />Clerk of Circuit Court & Comptroller <br />P.O. Box 1028 <br />Vero Beach, FL 32961-1028 <br />Telephone: (772) 770-5185 <br />TO: Board of County Commissioners <br />FROM: Diane Bernardo, Finance Director <br />THROUGH: Jeffrey R. Smith, Clerk of Circuit Court and Comptrc <br />DATE: October 3, 2016 <br />SUBJECT: Banking and Lockbox Services Contracts <br />The County's banking and lockbox services contracts expire on December 31, 2016. A request <br />for proposals (RFP) was issued on August 5, 2016. Demandstar notified 775 subscribers of the <br />RFP and the Purchasing Division contacted every bank with a local branch to notify them of the <br />RFP's upcoming release and obtain contact information if they were interested. <br />The RFP stipulated that the County's intent was for a single bank to provide banking and <br />lockbox services, however, reserved the right to split those two services if it was in the best <br />interest of the County. The County received seven proposals for banking services and nine <br />proposals for lockbox services. An additional bank asked if their proposal would be rejected if <br />they submitted a response for purchasing card services only. Via addendum, the County <br />indicated they would not be disqualified so one proposal was received for purchasing card <br />services only. <br />A selection review committee, made up of the Finance Director, Assistant Finance Director, <br />Budget Director, and Utilities Finance Manager independently reviewed and ranked each <br />submittal and then met to compile the overall rankings. During the selection committee meeting, <br />it was determined that it would be in the best interest of the County for purchasing card services <br />to remain part of the overall banking services, as it was originally designed in the RFP. <br />The scoring criteria, as outlined in the RFP, included the following items: <br />Item <br />Evaluation Criteria <br />Points <br />1 <br />Proposed Fees and compensation <br />40 <br />2 <br />Scope of services <br />35 <br />3 <br />Resources and qualifications of the <br />financial institution and individuals <br />10 <br />4 <br />Bank locations <br />5 <br />5 <br />Relevant experience managing <br />similar relationships <br />5 <br />6 <br />Quality of references <br />5 <br />Total Points <br />100 <br />21 <br />