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Action Item
DATE: Tuesday, December 15, 2015
TO: School Board Members
FROM: Jeff Eakins, Superintendent
SUBJECT / RECOMMENDATIONS
Accept the Proposals from Multiple Vendors – Request for Proposal (RFP) #15123-DST Banking and Treasury Services (Business Division)
EXECUTIVE SUMMARY
On October 8, 2015, the Procurement Department, in conjunction with the Budget and Cash Management Department, issued an RFP to establish qualified firms to provide comprehensive banking and treasury management services.  A total of seven banking institutions responded and a committee of district personnel and a local business financial expert recommended two firms, Wells Fargo Bank for our banking services and Regions Bank for our Procurement Card services. 

The initial term of this contract will be for a five-year period, with five one-year renewals, subject to negotiations and mutual agreement.  The Superintendent is authorized to approve any renewal agreements, per the terms of the specifications.
STRATEGIC OBJECTIVES
• Align financial resources to support the district's strategic goals • Demonstrate best financial practices
FINANCIAL IMPACT (Budgeted:  Yes)
Banking fees incurred by district accounts will be offset by the earnings credit allowance proposed by the bank.  Banking fees to be paid by the Student Nutrition Services Department are estimated to be $43,000 per year.  Regions Bank provided an additional $100,000 retention bonus to be paid to the district the month following contract award.
EVALUATION
Contract administration or evaluation is performed by the Project Manager (end user) and Procurement Officer, who function as a team.  Reviews are performed annually or by utilizing an online vendor performance report.  Prior to soliciting a new contract, the Contract Administration team must first give consideration to the specifications and supporting data of the expiring contract.
SUBMITTED BY:  Jean Bowman, General Manager, Procurement Department
Susan Garcia, Manager   Gretchen Saunders
Services and Support Department, Budget
(813) 272-4064		   Chief Business Officer
(813) 272-4270
    C 6.37
Hillsborough County Public Schools (Florida) * Mtg.#20151215_706 (Board Meeting) * Section C Item# 6.37