PURCHASING SOLICITATION SCHOOL BOARD OF BREVARD COUNTY, FLORIDA BOARD AGENDA ITEM December 13, 2016 ITN #11001/CH-A1 Banking Services (ITB) Invitation To Bid (ITN) Invitation To Negotiate (PB) Piggyback (RFP) Request For Proposal (RFQ) Request For Qualifications (SC) State Contract (SS) Sole Source REQUESTOR: Financial Services Legal Review: Yes No VENDOR NAME AMOUNT AWARDED REQUIRED PRODUCTS/SERVICES Wells Fargo Bank $20,000.00 Annually Banking Services Total $20,000.00 Annually Contract Renewal Recurring Contract New Contract New Contract Amount Previous Contract Amount Variance $20,000.00 Annually Various N/A PRICE INCREASE / DECREASE EXPLANATION: N/A DISCUSSION: On December 7, 2010 the Board approved a five year contract, with a one (1) five-year renewal option. The contract with this provider expires December 31, 2016. We are requesting permission to amend the renewal option of the contract and approval of a two (2) year renewal option. CONTRACT TERM: January 1, 2017 December 31, 2018 RECOMMENDATION: It is the recommendation of Pennie Zuercher, Chief Finance Officer and JoAnn Clark, Director of Accounting Services, to approve amendment 1 of the attached Banking Services Agreement with Wells Fargo Bank in the annual amount of $20,000.00. AUTHORITY FOR ACTION: Florida Administrative Code 6A-1.012(10) OFFICE OF PURCHASING SERVICES 2700 JUDGE FRAN JAMIESON WAY VIERA, FL 32940-6601
ITN #11001/CH-A1 Approval Date: Wells Fargo Bank, N.A. Government and Institutional Banking 800 N. Magnolia Ave. 7 th Floor Orlando, FL 32803 November 21, 2016 Ms. Pennie Zuercher Chief Finance Officer School District of Brevard County Viera, Florida 32940 Dear Ms. Zuercher, This letter is to confirm that Wells Fargo Bank, N.A. (The Bank ) will extend the existing banking contract that is now in place between the Brevard County School Board, Florida (the District ) and the Bank. With this extension the banking services contract between the District and the Bank will be extended to December 31, 2018. The terms and conditions of our banking service agreement will remain the same. Please find attached our current account analysis statement, which prices will remain in place with this extension. While some of your needs and our solutions may change from time to time, you will continue to have the same relationship team. Jackie Kobialko will continue as your Treasury Management Officer and Todd Morley will continue as your Relationship Manager. If you are in agreement, we will complete our files with a copy of this letter, signed and dated at the bottom. Should you need other documentation from the bank please let me know. Thank you for your confidence in us. We value our relationship with the Brevard County School Board and look forward to continuing to serve your banking needs. Sincerely, Todd Morley, CFA Senior Vice President Government Banking Wells Fargo Bank Misty Belford, Chairperson Date Accepted: Desmond Blackburn, Superintendent, Brevard County School Board Signature: Date:
Average Monthly Cost Annualized Average Description Unit Price Balance & Compensation Information Recoupment Monthly IB 0.06380 1,633.42 19,601.05 Account Analysis - Credit Adjustment 1.00000 (0.34) (4) Balance & Compensation Information Account Maintenance W/ Chk Return 10.00000 10.00 120 Zero Balance Master Account Maint 25.00000 25.00 300 Account Maintenance-Chexstor 10.00000 50.00 600 Zero Balance Monthly Base 15.00000 30.00 360 Debits Posted 0.15000 22.94 275 Credits Posted 0.34500 589.26 7,071 General Account Services Store/Night Drop Deposit(was credits posted 0.34500 645.12 7,741 Deposit Location Reporting - Item 0.06000 103.86 1,246 Deposited Checks - On Us 0.03000 56.16 674 Deposited Checks 0.03000 242.81 2,914 Cash Dep/$1 Ver at Teller Window 0.00065 205.79 2,470 Change Order Charge-Branch/Store 3.00000 24.18 290 Rolled Coin Ordered - Branch/Store 0.12000 3.18 38 Currancy Ordered/$1 - Branch/Store 0.00200 1.03 12 Return Item - Chargeback 2.00000 42.12 505 Return Item Special Inst Mthly Base 5.00000 15.00 180 Return Item Redeposited 1.25000 44.63 536 Depository Services Printing & Supplies-Vendor 0.01 638.98 7,668 Pymt Auth Max Check Mthky Base 15.00000 45.00 540 Stop Payment - Online 7.50000 37.94 455 WellsImage Paid Check Monthly Base 75.00000 75.00 900 DDA Checks Paid 0.08000 105.72 1,269 Paper Disbursement Services ARP Monthly Base - Full 40.00000 80.00 960 ARP Monthly Base - Partial 40.00000 80.00 960 ARP Full Recon-Item 0.06000 78.53 942 ARP Aged Issue Records On File-Item 0.00100 0.04 0 Positive Pay Exceptions - Item 2.00000 19.50 234 ARP Statement Monthly Base CEO 5.00000 20.00 240 Paper Disbursement Recon Services Electronic Credits Posted 0.15000 18.84 226 ACH Monthly Base 35.00000 70.00 840 ACH One Day Item 11.68 140 ACH Two Day Item 0.03000 626.32 7,516 ACH Same Day 0.03000 3.54 42 ACH Return Item-Electronic 1.50000 7.29 87 ACH Return Admin-Electronic 1.50000 5.67 68 ACH Transmission Charge 10.00000 76.47 918 ACH Delete Item 1.50000 0.75 9 ACH Reversal - Item 35.00000 35.00 420 ACH Special Investigation 35.00000 35.00 420 ACH Exception Process-Duplicate File 40.00000 40.00 480 ACH CEO Fraud Filter Review MO Base 10.00000 26.47 318 ACH CEO Fraud Filter Review MO Base 10.00000 33.53 402 ACH NOC - Info Reporting Advice 1.50000 5.50 66 - EDI Payment Services Wire IN Domestic 6.00000 24.35 292 Wire-Outgoing Domestic-CEO 8.00000 396.24 4,755 Wire - Book Transfer - CEO 1.00000 3.06 37 Wire & Other Fund Transfer Services CEO Intraday Subscription Mthlybase 35.00000 245.00 2,940 CEO Prev Day Subscription Mthlybase 35.00000 245.00 2,940 Gross Fees 5,915.45 70,985.37 Interest Earned 4,267.34 51,208.06 (Fed Funds less 5 basis points; 0.05%) Net Due to Wells Fargo 1,648.11 19,777.31