TOWN OF KINDERSLEY Request for Proposals (RFP) Banking Services. Opening Date: November 7, 2016 Closing Date: November 18, 2016

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1 TOWN OF KINDERSLEY Request for Proposals (RFP) Banking Services Opening Date: November 7, 2016 Closing Date: November 18, OPPORTUNITY The Town of Kindersley is seeking proposals for a firm to provide banking services for the Town of Kindersley for a five-year period. 2. SCHEDULE Services are to commence on December 1, 2016 and end on November 30, Requests for Proposals issued November 7, Proposal submission deadline November 18, 2016 by 4:00 pm (SK local time), 3. BACKGROUND The Town of Kindersley is the municipal government entity of Kindersley, Saskatchewan. The Town of Kindersley has a population of 5,357 according to the 2015 SK Health Covered Population, and is located in west central Saskatchewan. The Town s budget is approved annually by Council and is also subject to an annual audited review. 4. SERVICES REQUESTED Proposals should encompass all banking needs as specified in this document. Any further services offered as an option, or in addition to the services required in this proposal, may be included; however, only the services required under this proposal will be given consideration during the adjudication process NUMBER OF BANK ACCOUNTS The Town of Kindersley will require a minimum of 6 bank accounts, of which at least one bank account shall have cheque-writing capabilities. The Town shall have, at its discretion, the ability to add or remove bank accounts. All accounts will be denominated in Canadian funds. 1

2 4.2. FEATURES The following features are required: a) Daily balances of all accounts must be accessible electronically. b) Monthly statements must be provided (these may be hardcopies mailed, or they may be electronically ed) to the Town for all accounts as well as all credit and debit vouchers and all cancelled cheques. c) Monthly statement cutoff for all accounts shall be the last day of each month. d) Bank deposit interest shall be calculated on all outstanding balances. e) Bank deposit interest on all accounts shall be payable to whatever accounts specified by the Town. f) Monthly deposit interest calculation statements shall be provided for all accounts. g) Payment of bank deposit interest shall be within the first 5 business days of the following month INVESTMENT SERVICES Proposals shall include all investment options available for the investment of excess account balances. All investments included in the proposal shall conform to the requirements of section 160 of The Municipality Act, (A copy of the relevant legislation is attached) OTHER BANKING SERVICES Interested parties must be able to provide the following services: a) Process approximately 500 transactions per month b) Able to receive large cash deposits daily and/or nightly. c) Process Electronic Funds Transfers (EFTs) d) Process NSF Cheques e) Online Banking f) Employee Payroll Direct Deposit g) Pre-Authorized Debit Services h) Corporate Visa/Mastercard Services i) Merchant Interact/Direct Payment Services j) Stop Payment and Cheque Certification Services k) Bank Drafts and Money Orders Services l) Safe Deposit Box Services m) Debenture and Coupon Redemption Services 4.5. LINES OF CREDIT Proposals of banking services should provide for bank lending activities. The Town of Kindersley requires the following services: a) Operating Lines of Credit Temporary loan of 1 year or less in the amount of $1,000, Please include interest rate, fixed or floating ACCOUNT INFORMATION a) Average Total Monthly Balance (All Accounts) (November 1, October 31, 2016) - $8,356, b) Average Number of Cheques/Transfers issued per month Accounts Payable Cheques 220 Automatic Payroll Transfers 100 c) Requested Line of Credit $1,000,000 d) Outstanding debt As of December 31, 2016 See Schedule A attached and forming part of this Addendum. 2

3 e) Visa/Mastercards Number required 1 Limit per card $10, f) Approximate Number of Employees 48 Permanent 15 Seasonal g) Types of Cheques used: 3 Part 8½ x 11 Laser Supplier of Cheques Datamark Systems h) Outstanding Debentures None i) Deposits - Number per month (Average) 22 Operating Number of Cheques deposited 40 per deposit (Average) Electronic Funds Transfers 150 per month Attached is a copy of the Audited Financial Statements for the Town of Kindersley as of December 31, A copy of the Town of Kindersley s 2016 Operating and Capital Budget is available at your request. 5. QUALIFICATIONS & SKILLS REQUIRED Proponents must be a Canadian financial institution authorized to operate within Canada by The Office of the Superintendent of Financial Institutions (OSFI). Proponents must also be members of the Canadian Bankers Association. 6. PROPOSAL SUBMISSION REQUIREMENTS All proposals should contain the following items: 1. Business Description 1.1. Name of company 1.2. Point of Contact for these services 1.3. Head Office location and local Branch location 1.4. Business start date 2. Scope of Work Describe the pertinent details of how you will provide the Services Required as outlined in Section 4 of this document, including but not limited to: 2.1. Listing eligible investment alternatives, including: Term of investment; Applicable interest rate; The method of calculation and payment of interest or investment income; Conditions or restrictions on access to funds; Minimum investment balance Any subcontracting services involved 3

4 3. Qualifications Demonstrate that the company has the personnel who possess the knowledge and skills required for the successful completion of the project outlined in Section 4, Services Requested of this document Certifications if certain skills are required for the job, affirm that these are being met References Provide 2 customer references for which you provided similar service/product in the last 2 years. Include the name of the company and where it is located, the contact person, and the details of the project. 4. Fees for Service 4.1. Proposals should list the costs of the services outlined in sections 4.3, 4.4 and 4.5 (excluding GST) with consideration to the account information outlined in Section Ensure the inclusion of the following with respect to the calculation of interest: Interest rate formula used in the calculation of monthly bank interest The account balance formula used to determine the balance to apply interest to The base interest rate used, e.g. (prime rate, daily deposit interest, term deposit rates, etc.) The frequency with which interest rates are updated or reviewed Identify any additional costs for the provision of the services which are not listed in 4.3, 4.4 and 4.5 such as setup fees and implementation fees. 7. SUBMISSION INSTRUCTIONS When submitting your Proposal, please note the following: 1. The proposal should be received in its entirety before the submission deadline of 4:00 p.m. local time, Friday, November 18, 2016, preferably by to: proposals@kindersley.ca, or alternately to: Town of Kindersley Attention: Director of Corporate Services Box 1269, Kindersley, Saskatchewan S0L 1S0 2. The Town will not accept liability for any late, lost, or improperly delivered , parcel or facsimile. We recommend that you contact the Town Administration Office to verify successful delivery. 3. Questions or inquiries concerning this RFP shall be directed to Audrey Hebert, Director of Corporate Services, and can be submitted to the or post addresses provided above no later than five (5) work days prior to the proposal deadline. Verbal responses to any inquiry cannot be relied upon and are not binding on either party. Audrey Hebert audrey.h@kindersley.ca Phone: (306) This is not a Request for Tenders or an offer. The Town is not bound to accept the lowest price proposal, nor any proposal of those submitted. By submitting a proposal and participating in the process as outlined in this REOI, proponents expressly agree that no contract of any kind is formed under, or arises from, this REOI, prior to the signing of a formal written contract. 5. The Agreement will contain the relevant provisions of this RFP, the accepted proposal, as well as such other terms as may be mutually agreed upon, whether arising from the accepted proposal or as a result of any negotiations prior 4

5 or subsequent thereof. The Town reserves the right to negotiate modifications with any proponent who has submitted a proposal. 6. An agreement will be drafted in consultation with the preferred proponent(s) which will contain the relevant provisions of this RFP, the accepted submission, as well as such other terms as may be mutually agreed upon, whether arising from the accepted submission or as a result of any negotiations prior or subsequent thereof. If at any time The Town reasonably forms the opinion that a mutually acceptable agreement is not likely to be reached within a reasonable time, give the preferred proponent(s) written notice to terminate discussions, in which event The Town may then either open discussions with another proponent or terminate this The Town and retain or obtain the services to develop the project in some or any other manner. 7. Prior to commencing work, the successful proponent shall obtain all authorizations required by the law to enable them to carry on business and to complete work required by the agreement, such as Saskatchewan GST requirements and a Town Business License. 8. Proposals may be short listed. Proponents who are short listed may be requested to make a formal presentation. Such presentations shall be made at the cost of the proponent. 9. Proponents are solely responsible for their own expenses in preparing, and submitting proposals, and for any meetings, negotiations or discussions with The Town or its representatives and consultants, relating to or arising from this RFP. The Town and its representatives, agents, consultants and advisors will not be liable to any proponent for any claims, whether for costs, expenses, losses or damages, or loss of anticipated profits, or for any other matter whatsoever, incurred by the proponent in preparing and submitting a proposal, or participating in negotiations for a contract, or other activity related to or arising out of this RFP. 10. The proposal and accompanying documentation submitted by all proponents become the property of the Town of Kindersley and will not be returned. Proponents should be aware that The Town may be considered a public body defined by and subject to The Freedom of Information and Protection of Privacy Act (Saskatchewan) and as such The Town may be required to disclose information in the proposal by operation of law. 11. The Town reserves the right to withdraw this RFP at any time prior to the signing of a Contract for services. 8. EVALUATION Submissions to the RFP will be reviewed by an adjudication committee. The winning proponent will be selected on the following criteria: 1. Cost of services 2. References 9. AGREEMENT After the selection of the successful Proponent(s), a formal written agreement will be prepared and will not be binding until it has been approved by the Council of the Town of Kindersley and signed by both parties. The Agreement will contain the relevant provisions of this RFP, the accepted proposal, as well as such other terms as may be mutually agreed upon, whether arising from the accepted proposal or as a result of any negotiations prior or subsequent thereof. 5

6 ATTACHMENTS MUNICIPALITIES DIVISION 4 Investments Permitted investments 160(1) A council may: (a) invest any surplus money to its credit only in: (i) securities of the Government of Canada or of any province of Canada; (ii) securities whose payment is guaranteed by the Government of Canada or of any province of Canada; (iii) its own securities or securities of any other municipality or school division in Saskatchewan; (iv) deposit certificates or similar investments issued by a bank, trust corporation or credit union; (iv) shares in a corporation engaged in any commercial, industrial or business undertaking within or outside the municipality; and (vi) any other securities authorized by the Saskatchewan Municipal Board; and (b) sell, assign or transfer the securities, and may call in and vary the investments for others of a similar nature. (2) For the purpose of making the investments mentioned in subsection (1), the money to the credit of any two or more funds may be consolidated into one account and securities may be purchased from that account, in which case a record is to be maintained of the equity of each fund in the consolidated account and of the securities so purchased. (3) A council may: (a) incur debt obligations with any person, bank, credit union or trust corporation for any sums that the council may consider necessary to meet the obligations of a fund; and (b) give as security for the debt obligation mentioned in clause (a) any investments or other assets held to the credit of the fund or the proportion of those investments or other assets representing the equity of the fund in them. 2005, c.m-36.1, s