HCPS FL Logo Business
Action Item
DATE: Tuesday, December 7, 2010
TO: School Board Members
FROM: MaryEllen Elia, Superintendent
SUBJECT / RECOMMENDATIONS
Renew Existing Contract Submitted by Wachovia Bank, N.A. - Request for Proposal (RFP) #4655 -TW Comprehensive Banking and Treasury Services (Business Division)
EXECUTIVE SUMMARY
On July 27, 2005, the Procurement Department, in conjunction with the Budget Department, issued a Request for Proposal to qualified public depositories for comprehensive banking and treasury management services.  The RFP was approved on October 11, 2005, and the initial term of this contract was from January 1, 2006 to December 31, 2010, with one five-year renewal. 

Wachovia Bank, N.A. has agreed to renew for the period beginning January 1, 2011, and ending December 31, 2015.  Approximately $628 will be compensated for disposable bags; however, all other prices, terms, and conditions will remain unchanged for the duration of the contract.  The Superintendent is authorized to approve the renewal agreement 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)
These items are included in the Budget Department General Fund in an amount not to exceed $60,000 annually.
EVALUATION
Contract administration or evaluation is performed by the Assistant Department Manager of Cash Management and the Procurement Officer, who function as a team. Reviews are conducted face to face, typically quarterly, 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:  Steve Brady, Assistant Department Manager, Cash Management
Ivan Viamontes, Senior Procurement Officer, Procurement
Jean Bowman   Gretchen Saunders
General Manager, Procurement
(813) 272-4374
  Chief Business Officer
(813) 272-4270
    A 5.20
Hillsborough County Public Schools (Florida) * Mtg.#20101207_432 (Board Meeting) * Section A Item# 5.20