Broward County Commission Regular Meeting

A. MOTION TO APPROVE Request for Proposals (RFP) No. GEN2118504P1, Master Banking Services, for the Finance and Administrative Services Department.

(Transferred to the Consent Agenda.)

ACTION:  (T-11:16 AM)  Approved.

VOTE:  8-0.  Commissioner Sharief was not present.

B. MOTION TO APPROVE Fourth Amendment to the Agreement between Broward County and Wells Fargo Bank, N.A., for Master Banking Services, Request for Proposals (RFP) No. R1170501P1, from July 1, 2019 through June 30, 2020, and the option to extend the term on a month-to-month basis not-to-exceed six additional months, in the estimated gross amount of $770,000, to allow for a competitive solicitation process for the most qualified vendor; and authorize the Mayor and Clerk to execute same.

(Transferred to the Consent Agenda.)

ACTION:  (T-11:16 AM)  Approved.

VOTE:  8-0.  Commissioner Sharief was not present.

Motion A. In accordance with the Broward County Procurement Code, 21.32.c., Competitive Sealed Proposals, Board approval is required prior to advertisement for competitive sealed proposals that have an anticipated total value of more than $500,000.

Motion B. In accordance with the Broward County Procurement Code, Section 21.43, "a contract for supplies or services may be entered into for no more than five years without the express consent of the Board".

Motion A. Approves a Request for Proposals solicitation to seek a banking relationship with one or more Qualified Public Depositories to provide a wide range of banking services.

Motion B. Amends the Agreement between Broward County and Wells Fargo Bank, N.A. to provide master banking services to the County.

None.

THE PURCHASING DIVISION AND THE FINANCE AND ADMINISTRATIVE SERVICES DEPARTMENT RECOMMEND APPROVAL OF THE ABOVE MOTION.

The Office of Economic and Small Business Development (OESBD) did not assign County Business Enterprise (CBE) goals for this procurement because there are no certified CBE firm that can meet the requirements of the solicitation. Therefore, consistent with the Broward County Business Opportunity Act of 2012, as amended, Sec. 1-81.3.(a)(1)a, if there are fewer than two certified CBEs available to participate in a specific project, no CBE goal will be applicable. The OESBD determined that this project is not subject to the Broward County Workforce Investment Program (Exhibit 2).

The purpose of this solicitation is to seek a banking relationship with one or more qualified Public Depositories to provide a wide range of banking services including: Treasury Services, Lockbox Services, Safekeeping Services, and the option to utilize Purchasing Card Services. The County, at its discretion, reserves the right to award each service area (Treasury, Lockbox, Safekeeping and Purchasing Card) to one proposer or to multiple proposers.

The Request for Proposals (RFP) method of procurement was selected for this project to best serve the County with additional evaluation criteria. The RFP method provides for predefined evaluation criteria for ranking of firms based upon the required specialized technical expertise. Proposers are required to determine the best method to accomplish the specialized services as outlined in the RFP (Exhibit 1).

The current Agreement No. R1170501P1, for Master Banking Services, has a total term of five years ending on June 30, 2019. The Fourth Amendment adds an additional one-year term ending June 30, 2020, with the option of up to six additional one-month extensions, in the estimated annual amount of $770,000; this extension allows time for the solicitation of a replacement contract (Exhibit 3). While the estimated annual amount is $770,000, the actual cost to the County will be greatly offset by the Earnings Credit Rate, a soft dollar credit based on bank account balances that offset the amount of bank fees. The actual bank fees paid in Fiscal Year 2018 was $0 as a result of the soft dollar credits.

Brenda J. Billingsley, Director, Purchasing Division, (954) 357-6070