Request for Proposals For Banking and Investment Portfolio Management Services
September 27, 2013 RFP Number: 102213-01 Due Date: October 22, 2013 Time Due: 11:00 a.m. ET NIGP Commodity Code(s): 946-25, 946-56
ADVERTISEMENT FOR REQUEST FOR PROPOSALS NOTICE TO PROPOSER:
Atlanta Public Schools invites qualified vendors to submit a proposal to provide banking and investment portfolio management services.
Outstanding solicitations may be viewed at: http://www.atlantapublicschools.us/solicitations Offerors should read the general terms and conditions at: http://www.atlanta.k12.ga.us/page/231 If you are unable to download these documents, you may contact the assigned Procurement Officer:
David Odom at (404) 802-1585 or firstname.lastname@example.org
A pre-proposal conference will be held on October 9, 2013 at 11:00 a.m. ET at 130 Trinity Avenue, Atlanta, GA 30303, room 4, 2nd floor. Attendance is not mandatory but is strongly encouraged.
Proposals shall be accepted in the Office of Procurement Services of the Atlanta Public Schools, 130 Trinity Ave. S.W., 4th Floor Atlanta, Georgia 30303 up to 11:00 a.m. ET on October 22, 2013 (as determined by the time stamp clock in the APS Department of Procurement Services).
Proposals delivered prior to the proposal close date and time can be received during normal business hours (between 8:30 a.m. ET and 5:00 p.m. ET) only. Deliveries attempted by any method (including mail, express courier, or in person) before 8:30 a.m. ET or after 11:00 a.m. ET on the date due CANNOT be accepted; therefore, we suggest that you submit proposals well in advance of the date and time due.
To ensure proper and timely routing of your proposal, packages shall be addressed to the attention of the assigned procurement officer indicated in the solicitation.
ATLANTA PUBLIC SCHOOLS
October 9, 2013 Pre-proposal conference, 11:00 a.m. ET
October 10, 2013 Deadline for written questions, 11:00 a.m. ET
October 14, 2013 Response to questions to be posted to the APS website
October 22, 2013 RFP due in Procurement Services by 11:00 a.m. ET
October 23, 2013 Administrative Review
October 28, 2013 Evaluation
December 2, 2013 Recommendations to the APS Board of Education.
TABLE OF CONTENTS Scope of Work pg. 4
Non–Submittal Response Form pg. 18
Offeror Affirmation Form pg. 19
Offeror Information Form pg. 20
Joint Venture Affidavit pg. 21
Primary Vendor / Subcontractor Utilization pg. 24
Promise of Non-Discrimination pg. 25
Contractor Affidavit of Compliance under O.C.G.A 13-10-91(b) (1) pg. 26
Subcontractor Affidavit of Compliance under O.C.G.A 13-10-91(b) (3) pg. 27
Sub-subcontractor Affidavit of Compliance under O.C.G.A 13-10-91(b) (4) pg. 28
Affidavit of Exception pg. 29
Local Preference pg. 30
Solicitation Checklist pg. 31
Sealed Bid Label pg. 32
Vendor Requirements Form separate Excel spreadsheet
Price Proposal Form (miscellaneous services) separate Excel spreadsheet
1.1 The Atlanta Independent School System (hereinafter, “Atlanta Public Schools” or “APS”) is requesting qualified vendors to submit a proposal to provide banking and investment portfolio management services.
1.2 In using this method for solicitation, we are requesting your best effort in seeking the best value for our requirements. To be eligible for consideration, sealed proposals shall be presented in accordance with the instructions of this solicitation and within the timeframe specified. It shall be the responsibility of the selected Offeror to meet all specifications and guidelines set forth herein. Atlanta Public Schools, at its discretion, determines the criteria and process whereby proposals are evaluated and awarded. No damages shall be recoverable by any challenger as a result of these determinations or decisions by Atlanta Public Schools.
2.0 Current Situation – banking Services
2.1 The Banking and Investment Management Portfolio Services contracts expire June 25, 2014.
2.2 APS has a 2014 fiscal year General Fund operating budget of $595 million.
2.3 APS has approximately 8,000 employees that are paid on the 15th and last day of each month. The Payroll account is a zero balance account funded by a master account. APS has implemented paperless checks for payroll. All employees are paid by direct deposit. The current bank account structure consists of one zero balance account, a controlled disbursement account, a master concentration general operating account and 2 additional disbursement accounts. In addition, each school (96) also maintains independent checking accounts.
2.4 APS issues approximately 3,000 checks monthly to vendors and other entities through electronic check processing. Positive pay and account reconciliation services are utilized for all operating accounts. Online and Web based services are used to manage daily activity, including, but not limited to, information reporting, wire transfers, ACH payments, stop payment transactions and system administration. School accounts do not utilize positive pay services.
2.5 APS utilizes remote deposit capture services to aggregate and deposit check collections. An armored car service provider picks up cash deposits from each school and delivers the funds to the bank’s money center for deposit into each school’s account. APS will continue to utilize its armored car service provider for school collections.
2.6 APS receives email positive pay notification to designated email addresses. APS receives electronic notification to designated email addresses.
Current Situation – investment portfolio management services
2.7 Investment Portfolio Management
The Investment Portfolio is managed in accordance to APS Board of Education Investment Earnings Policy and Regulations. The primary objectives are:
ensure adequate liquidity for the school district to meet its financial obligations
minimize the risk of capital loss
achieve highest possible rate of return
Assets under management will include two distinct pools of money; (1) the investment account of the General Fund and (2) the investment account of the Special Local Option Sales Tax (SPLOST) fund.
Fund performance is benchmarked to the Georgia Fund One.
The Investment Policy can be reviewed by logging on to the URL below:
2.8 Atlanta Public Schools Investment Portfolio Ending Balances for Investment Accounts, January 2012 through July 2013:
Note: These amounts are expected to be illustrative of the funds to be under the sole management of the
vendor. However, the Board does not warrant that the investment portfolio will equal or exceed these
3.0 SCOPE OF WORK – BANKING SERVICES
3.1 APS is seeking a cost effective solution in combining its banking and investment management services with a qualified financial institution.
3.2 Both the banking services and investment portfolio services contracts are expected to be fully implemented by August 15, 2014.
3.3 Proposals should demonstrate the vendor’s cost effective and innovative approach to today’s banking and investment needs as well as the rapidly changing demands of the future. 3.4 Vendor shall provide the following services:
3.4.1 Depository Services
APS utilizes remote capture for deposit services.
School accounts receive location deposit details for armored car deposit services.
Additional services may include coin and currency, prefixed deposit tickets and reporting capability to manage location details, transaction imaging and other related service activities.
3.4.2 AccountReconciliation and Fraud Control Services
Check issue file transmissions;
Positive pay and account reconciliation services;
Electronic file transmission of all paid checks during the month in an acceptable file format to the Information Technology Department of APS for downloading to the Lawson ERP system;
Electronic files or documents that enable APS to reconcile its accounts on a monthly basis. This shall include, but is not limited to, the following:
a cumulative listing of outstanding checks
a detail and summary listing of activity by type for each account
images and copies of paid checks each month on CD-ROM
Acknowledgements of transmitted files via email;
Alternative fraud enhancement services for school accounts not utilizing positive pay services;
Notification of positive pay dispositions via email;
3.4.3 Employee Payroll Services
Direct deposit of payroll amounts to the designated banks and accounts of employees of APS.
For employees who do not qualify for a checking account, an account will be provided to allow the employees to receive payroll funds. (There will be no account fees assessed to the employee.)
Employees will have the ability to access funds and withdraw all balances.
The vendor shall make available to APS employees additional banking services at no additional charge.
Vendor must have a retail presence (branch locations) in metro Atlanta.
3.4.4 Statements and Reports Services
Monthly statements on all accounts must be available electronically no later than the tenth of the following month.
Monthly statements shall include transactions through the last business day of the month.
Statements must include listings of specific checks in check number sequence.
Daily batch totals will not be acceptable.
APS requires an electronic account analysis of statement of fees charged and any earnings on compensating balances.
3.4.5 Online Information Reporting and Money Transfer Services
A single point-of-entry solution for its banking platform and reporting needs. The selected institution will be required to provide APS with access to online reporting capabilities.
Features shall include, but are not limited to:
Current and previous day activity
Ability to initiate, approve, and transmit wire transfers
Ability to inquire on check status and print paid checks
Positive Pay decisions
3.4.6 Bank Administration Institute (BAI) File Services
Automated daily BAI data downloads in an acceptable APS file format that integrates with the Lawson ERP system.
3.5 Investment Portfolio Management Scope of Services
The vendor shall open and maintain a trust account in the name of the Atlanta Public Schools and will purchase, hold and exchange approved securities in accordance with the Investment Policy guidelines set forth by the APS Board of Education.
Investment management service providers are expected to keep APS abreast of market conditions and report on performance against agreed upon benchmark on a monthly basis. Additionally, investment advisors generally make oral presentations to the Investment Committee.
Vendor will provide on-line access to details concerning portfolio holdings and transactions activity on a same day and historic basis and will provide downloadable reports in both Adobe PDF and text formats.
The record keeping and reporting capabilities of the proposer must be sufficient to meet generally accepted financial control standards. Reporting must also be sufficient to monitor performance and adherence to the investment plan.
The awarded vendor will report monthly against the financial benchmarks selected by APS. These will include, but not limited to the Georgia Fund 1.
The vendor shall cooperate with external auditors on interim and annual reviews. As required by the Board’s auditors, the proponent shall maintain such records and other measures necessary to insure internal controls.
Vendor must be able to move funds electronically between accounts, e.g., from the General Operating account to General Fund investment portfolio account and vice versa, also, from SPLOST Funding account to SPLOST Investment portfolio account, etc.
3.6 Account Transition Services
Vendor shall identify and communicate key components relative to transitioning banking and investment portfolio management services.
Vendor shall define and organize collaborative efforts steps to assure competency of transition.
Vendor shall test and validate financial systems integration.
Vendor shall run parallel systems with existing system during the transition period.
3.7 Optional Services
Vendor may provide a list of other services for banking, investment portfolio management and safe keeping not included in this solicitation. e.g., credit cards, P-cards, T&E cards, E-payables, Tax Anticipation Notes (TAN), Securities Lending, Private Placements, etc.
APS reserves the right to determine if the proposed optional services will be used.
Submit pricing for miscellaneous services on the price proposal form which is a separate Excel spreadsheet. This form must be submitted in a separate sealed envelope labeled pricing.
Vendor shall submit pricing for other banking services not listed on the price proposal form.
Vendor shall submit pricing for investment portfolio management services in a separate Excel spreadsheet (see section 3.5). Following is an example of tiered pricing structure or asset-based fee calculated that may be submitted:
0.000% (00.0 basis points) on the first $00 million
0.009% (00.0 basis points) on the next $00 million
0.000% (00.0 basis points) on the next $00 million
Minimum Account size $00 million (Fee based criteria to be determined)
Minimum Annual Fee $00.00 (Fee based criteria to be determined)
Quarterly Billing under a separate cover
Vendor shall submit pricing for account transition services (see section 3.6).
Vendor shall submit pricing for optional services (see section 3.7).
4.0 GENERAL INFORMATION:
4.1 All communications regarding this solicitation must be with David Odom, the assigned Procurement Officer for the APS.
4.2 All questions or requests for clarification must be sent by email to email@example.com 4.3 By submitting a response to this request, the offeror accepts the responsibility for downloading, reading and abiding by the terms and conditions set forth in the General Terms and Conditions found on the APS web site at: http://www.atlanta.k12.ga.us/page/231 4.4 All addendums related to this solicitation will be posted on the APS website at http://www.atlanta.k12.ga.us, Quick Links, Procurement, Outstanding Solicitations. It is the offeror’s responsibility to check the APS website for any addendums, responses to offeror questions or other communications related to this solicitation.
4.5 Vendor is not required to submit proof of insurance with proposal but must submit within five (5) business days after receiving a letter of intent. The insurance requirements are included in section 7 of the General Terms and Conditions.
4.6 The ACORD certificate of insurance must list Atlanta Public Schools as the additional insured.
4.7 Vendor shall have and maintain during the term of the contract errors and omissions insurance in the amount of not less than $10,000,000.
4.8 Vendor agrees that its duty to indemnify, defend and hold harmless the Atlanta Public Schools as set forth in section 10.2 of this RFP shall not be reduced or limited by the insurance provided by the vendor.
4.9 APS reserves the right to conduct interviews or require presentations of any or all vendors who submit a response to this solicitation. APS will not be liable for any costs incurred by the offeror in connection with such interviews/presentations (i.e. travel, accommodations, etc.).
5.0 VENDOR REQUIREMENTS
5.1 APS policy requires that all contractors, consultants, or vendors providing services on APS premises be fingerprinted and submit to a criminal record check initiated by APS prior to providing services to APS. There is a fee of $44.25 per individual payable by money order associated with the background check. The payment of this fee is the sole responsibility of the contractor, consultant, vendor or the employing company. Any contract awarded pursuant to this solicitation is contingent upon compliance with this requirement and a satisfactory background check as determined by APS.
5.2 Use of Subcontractors
If subcontractors will be used in the performance of this contract, vendor must complete and submit with its response the Primary Vendor/Subcontractor Utilization form.
Vendor shall not assign any duties to perform services nor to provide goods to APS under this contract to a subcontractor that is not listed in vendor’s response to this solicitation.
If a subcontractor is removed from the contact at any time during the term, vendor must notify APS Procurement Services in writing with name of subcontractor, reason for removal and effective date.
If vendor desires to add a subcontractor at any time during the term of the contract, vendor must submit to APS Procurement Services in writing the following information on the subcontractor; company name, address, telephone and fax number, service they will be providing and proposed effective date. Subcontractor may not begin providing service until approved by APS.
Vendor is responsible for ensuring that all subcontractors who provide goods or services under this contract comply with the terms and conditions of the contract.
Vendor shall give APS immediate notice in writing of any claim, action or suit filed against vendor by any subcontractor.
APS reserves the right to require that a subcontractor be removed from the contract.
5.3 Vendor must complete and submit with their proposal the applicable documentation related to Georgia House Bill 87 (commonly known as the “Illegal Immigration Reform and Enforcement Act of 2011”).
5.4 Information on Georgia House Bill 87 may be viewed on the APS web site at:
5.5 Failure to provide the required Georgia House Bill 87 documentation may result in the offeror’s response to the solicitation being deemed non-responsive and ineligible for evaluation.
5.6 The Atlanta Board of Education desires that the Atlanta Public Schools operate in the most ethical and conscientious manner possible. Employees are expected to not only avoid any direct conflict of interest but also to avoid even the appearance of impropriety. In an effort to comply with Board policy and to ensure that our relationship with vendors is above reproach, vendors are prohibited from giving any APS employee any gift, favor, loan, reward, political contribution, gratuity, entertainment, transportation, lodging, or meal except those of nominal value (less than $50.00), which must be disclosed to the immediate supervisor and the Department of Internal Auditing. Advertising items and instructional products that are widely distributed may be accepted. (Refer to Policy GAG and GAJB).
5.7 All contractors and vendors desiring to do business with the APS and/or to participate on APS
contracts shall be required to comply with Board policy GAG, Staff Conflict of Interest. All vendors and
contractors doing business with the APS shall provide all persons with equal opportunity without regard
to race, color, sex, religion, national origin, marital status, sexual orientation, age, or disability.
5.8 The vendor must have experience serving public, government and/or non-profit organizations with similar services as described in this solicitation.
5.9 The vendor must have experience serving customers with similar banking structure and volumes as described in this solicitation.
5.10 The vendor must have experience serving customers whose payroll is generated either by computer tape, disk or on-line data transmission, and is processed through direct deposit.
5.11 The vendor must have the capability of electronic data processing within the metropolitan Atlanta area or within such distance that it can demonstrate its ability to satisfy APS requirements on a timely basis.
5.12 The vendor must maintain an investment portfolio sufficient to collateralize all deposits of the board in excess of FDIC coverage in accordance with Georgia Code 45-8-11, 45-8-14, 45-8-15, and 50-17-59.
5.13 The vendor must have at least $50 billion in fixed income under management.
5.14 The vendor must have at least five years of experience with managing fixed income portfolios.
5.15 The vendor must maintain broker/dealer contacts, both national and local, sufficient to source
Investment instruments with maximum value to APS.
5.16 Vendor must meet the following minimum requirements from Bankrate.com:
Bankrate Star Rating, minimum 4 Star Rating;
Predictive Indicators, (+) improve, neutral;
Composite Summary, sound financial condition;
Institution Summary, rated sound.
5.17 Vendor must have the following
A current S&P rating of no less than AA.
A minimum current Moody’s rating of Aa2.
5.18. Vendor must complete and submit the vendor requirements form with their proposal.
6.0 SUBMISSION REQUIREMENTS
6.1 Proposals shall be submitted as follows:
Section 6.12, Sections 1-5,
The original (marked as such) documents and eight (8) hard copies of all documents in a separate sealed envelope labeled sections 1-5.
All hard copies should be submitted on loose leaf paper.
All documents saved on four (4) CD-ROMs or Flash Drives. All CD-ROMs/Flash Drives should be labeled with the company name, bid name and bid number. All information on CD-ROMs/Flash Drives should be provided in a single PDF file format.
Section 6.12, Section 6, Pricing (see section 3.8)
The original (marked as such) price proposal form and three (3) hard copies of the price proposal form and items b 1-6 in a separate sealed envelope labeled pricing.
All hard copies should be submitted on loose leaf paper.
6.2 The following required documents must be submitted with your proposal:
Primary vendor / subcontractor utilization (if subcontractors will not be used, check the appropriate box on the form and return with your response)
Promise of non-discrimination
Contractor Affidavit of Compliance under O.C.G.A 13-10-91(b) (1), if applicable
Subcontractor Affidavit of Compliance under O.C.G.A 13-10-91(b) (3), if applicable.
Sub-subcontractor Affidavit of Compliance under O.C.G.A 13-10-91(b) (4), if applicable
Affidavit of Exception, if applicable.
Local Preference Form
Copy of Occupation Tax Registration Certificate, (if applicable, refer to section 9 Local Preference)
Copy of local or state business license or permit (if firm does not qualify for local preference)
Vendor Requirements, separate Excel spreadsheet
Vendor service agreement and/or other contract documents
6.3 The required documents should be submitted as follows:
The original (marked as such) document and three (3) hard copies of the document in a separate sealed envelope labeled required documents.
All hard copies should be submitted on loose leaf paper.
All documents saved on three (3) CD-ROMs or Flash Drives. All CD-ROMs/Flash Drives should be labeled with the company name, bid name and bid number. All information on CD-ROMs/Flash Drives should be provided in a single PDF file format.
6.4 Proposals, in the format requested in 6.1, 6.2 and 6.3 shall be submitted together in a sealed package with the following information listed on the outside of the package:
6.5 No telephone, electronic or facsimile proposals will be accepted.
6.6 Any proposal received after the designated time and date due will not be considered by APS.
6.7 Proposals cannot be withdrawn after they are delivered to APS unless offeror makes a request in writing to the Director of Procurement Services prior to the time set for receiving bids, or unless the Director of Procurement Services fails to accept or reject the bids within one hundred and twenty (120) days after the date fixed for receiving said proposals.
6.8 Proposals which contain irregularities of any kind and/or do not comply fully with requirements stated in the solicitation documents may be rejected at the discretion of the Director of Procurement Services. APS shall not be liable for any costs associated or incurred by offeror in conjunction with preparation of solicitation responses.
6.9 APS reserves the right to waive any minor informality or error in the solicitation or offerors proposal which will not adversely affect competition.
6.10 By submitting a response the offeror certifies that this proposal is made without prior understanding, agreement or connection with any corporation, company or person submitting a bid for the same service and is in all respects fair and without collusion or fraud; that collusive pricing is understood to be a violation of state and federal law and can result in fines, prison sentences and civil damage awards. It is further agreed that offeror agrees to abide by all conditions of the solicitation, notice of award and/or purchase order(s) of APS and that the person signing this bid is duly authorized to bid on behalf of the offeror.
6.11 Failure to provide the information listed in section 6.4 may result in rejection of the proposal. If further information is required to demonstrate responsibility such as providing copies of licenses or permits (other than those mentioned in 6.2, certificates, etc., the offeror will be notified, in writing and given five (5) days from notification to supply such information.
6.12 Offeror shall submit the following information with the proposal. Offeror must reference each section as listed below.
Section 1 Business Profile and Experience