De Soto County Demandstar #26-23-00RFP

DeSoto County Banking, Cash-Management, and Account Services

DeSoto County is seeking proposals for comprehensive banking, cash-management, and related account services. - Government buyer: DeSoto County Board of County Commissioners, through the Purchasing Department, Florida. - Named prospective providers and vendors: Crews Bank & Trust, Suncoast Credit Union, SunTrust, TD Bank, N.A., and Truist Bank are listed as prospective bidders or planholders. Onvia, Inc. – Content Department is also listed as a planholder. Tyler Technologies is named for its ERP Pro 9 software. No provider has been selected. - Requested products and quantities: 4,000 laser-printed checks per fiscal year; 24 books of deposit slips/tickets to start; 10 plain deposit bags; 4 endorsement stamps; 1,000 cash/change envelopes; and 1 Teller Scan TS-240 remote deposit capture (RDC) scanner. - Banking and cash management: Provide and administer the County’s operating, grant, payroll, reserve, other designated, and Public Safety-EMS lockbox accounts, with the option to add accounts or divide services among institutions. Sweep collected Consolidated Account funds above the required $30 million minimum daily operating balance into an overnight repurchase agreement or money market, quoting the return relative to the Federal Funds Rate. Proposed alternatives must comply with County investment policy. - Transactions and reporting: Provide online access to balances and images, transfers, stop payments, wires, ACH, Positive Pay, direct deposits and payments, account reconciliation, monthly statements and account analysis, CSV reporting, and transaction downloads compatible with Tyler Technologies ERP Pro 9. Accepted transactions require same-day processing, and returned-item notifications are required. - Payroll, wires, and availability: Support weekly ACH direct deposit for approximately 200 employees, occasional printed payroll checks, and ACH debit transmittals. Incoming Federal Reserve wires must be available the same day; the County also requests same-day availability for U.S. Treasury checks. Process outgoing wire orders within one business day after notification and provide daily emailed confirmations. - Optional services: Describe and price purchasing-card programs and EMS lockbox services. The lockbox currently averages 200 billed accounts monthly and a $25,000 average monthly account balance; requirements include front-and-back imaging, daily transaction access, online images for 90 days, and balance transfers to correct misposted or misdirected payments. - Notable qualifications and operating requirements: Providers must meet the stated Florida Qualified Public Depository, charter, FDIC-insurance, Federal Reserve connectivity, financial-statement, and credit-rating requirements and maintain a principal branch in DeSoto County. Proposals must include disaster recovery information. The specified online banking environment uses Windows 11 Pro and Microsoft Edge, Google Chrome, or Firefox. County employee credit cards must have no annual fee or charges, and financing bids must be competitive and carry no prepayment penalties. - Term: Three-year initial agreement with two optional one-year renewals, for a potential maximum term of five years.

Description

DeSoto County seeks proposals for banking services, generally intending to use one financial institution while reserving the right to award different services to multiple institutions. The scope includes account and cash-management services, online banking, payment processing, overnight investment of collected funds above a $30 million minimum operating balance, reconciliation, payroll direct deposits, and related reporting. The agreement is for three years, with two optional one-year renewals. Proposers must meet the stated banking, financial, and Qualified Public Depository qualifications and submit pricing using the required proposal forms.

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