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Page 1 of 4
REQUEST FOR PROPOSAL NOTICE #1260
FOR DEPOSITORY SERVICES BY
RICHARDSON INDEPENDENT SCHOOL DISTRICT
400 S. GREENVILLE AVE.
RICHARDSON, TX 75081
Richardson Independent School District is soliciting sealed proposals to serve as Depository for the purpose of assisting with the banking functions for funds of the District.
Introduction
Pursuant to existing provisions of Chapter 45, Subchapter G, School District Depositories, Texas
Education Code, it is the intention of the Board of Trustees of the District to select a Depository
through soliciting sealed proposals for a Depository services contract for a term of two years
beginning July 1, 2013 and ending June 30, 2015 or until such time as a successor Depository is
selected and qualified and agrees to a depository agreement based on either fees or
compensating balances.
The District and the Depository may agree to extend this contract for two additional two-year
terms in accordance with Section 45.205 of the Education Code. This Section requires that the
contract and any extension of this contract coincide with the District’s fiscal year. In the event
the District changes its fiscal year, the term of the contract may be shortened or extended no
more than one year by mutual agreement to coincide, provided that this contract is to remain in
effect until its successor is selected and been qualified. If the parties cannot agree, the District
may at its option change the term of this contract.
The resulting contract and any extension(s) shall become binding upon the District and the
Depository only upon acceptance by the Texas Education Agency.
The legal provisions providing for the naming of a Depository of the District are set forth in
Subchapter G, School District Depositories, Sections 45.201 through 45.209, of the Texas
Education Code. Investments by the District will be governed by the Government Code, Chapter
2256, Public Funds Investment. Securities pledged as collateral to secure District deposits will be
governed by the Government Code, Chapter 2257, Collateral for Public Funds.
Pre-Proposal Conference and Depository Questions
There will be a pre-proposal conference which has been scheduled for February 26, 2013 at 2:00 pm CST/CDT and will be held in the District’s Large Conference Room at 970 Security Row,
Richardson, TX 75081. Questions regarding this proposal request, or the services requested, will
be accepted by Jeanne Miller, Buyer, in written or e-mail form only, at this address or at [email protected] on or before 4:00 pm on March 1, 2013. Responses to all material
questions submitted will be communicated via an addendum to this request for sealed proposals that will be posted on the following website by March 8, 2013:
http://www.risd.org/group/departments/Purchasing_Department/PurchasingDepartment_main.asp
Page 2 of 4
Proposal Submission
To be eligible for consideration under this request, three (3) complete paper copies of each
proposal and one (1) electronic copy of the proposal on CD Rom or flash drive shall be submitted by 1:30 pm CST/CDT on March 19, 2013 to the address below. Proposals received after that time
by the District will not be accepted. Late submissions to the District address will be returned
unopened.
The proposal must be submitted in a sealed envelope or packet marked “Depository Services, RFP #1260”. An accompanying transmittal letter must be signed by an individual authorized to
bind the institution, state that the proposal is valid for 180 days from the submission date, and give full contact information regarding the proposal.
The proposals must be delivered by mail, express mail, or in person to: Richardson ISD Purchasing Department
Attn: Jeanne Miller, Buyer 970 Security Row
Richardson TX 75081
All questions in the attached uniform proposal blank should be answered and provided to the
District as the Depository’s proposal.
The Depository is to attach a Cashier's Check in the sum of $2,500 payable to Richardson
Independent School District. If any portion of this contract is awarded to the Depository the
check will be returned to the Depository. If the Depository fails to execute the contract in a
reasonable time, the check shall be cashed by District as liquidated damages. If the proposal is
not accepted, the check will be returned to the Depository immediately after contract award.
This proposal is also being provided electronically by the District at the web address listed on the
bottom of page 1 of this notice. The fee schedule, Attachment A, is in Excel format. The
submitted proposal must be made in both paper and electronic form.
Evaluation Process
Selection Criteria The following criteria will be used by the District for evaluation and award of the contract.
18% Capabilities: Ability to perform the necessary services and duties as depository
including online banking services 18% Cost of services, cost of transition, ECR, compensating balance policy and fee
reduction incentives
10% Cash management information services, reporting, monitoring, notifications and
image access
10% Collateralization policies, services, costs and limits
10% Fraud prevention and notification, security, positive pay, disaster recovery and
online security measures 10% Investment options and interest rates including time deposits, interest bearing
accounts and sweep accounts
10% Experience providing depository services for similar accounts, customer service
ratings and references
5% Additional services offered and service enhancements such as purchasing cards,
safekeeping and courier services
Page 3 of 4
5% Policies for intraday and interday overdrafts, limits, charges, rates, and payment
holding policies
2% Funds availability and float schedule and deposit and payment cut-off times
2% Other considerations such as banking programs for employees and local
community involvement 100% Total
The District reserves the right to reject any and/or all proposals and to accept the proposal the
District considers most advantageous. If any portion or provision of this proposal and/or any
contract between Depository and District entered into is invalid, the remainder at the option of
the District shall remain in full force and effect and not be affected. Acceptance of a proposal will
be based on the total package of services offered by the banking institution.
Legislative Change
Changes in the law that may be enacted by the State Legislature, in session, could alter the scope of requirements as stated in this document. The proposal should conform to all statutes in
effect at the time of proposal opening.
Additional Information
The District will make every effort to adhere to the following schedule.
02/15/2013 Release of Request for Proposal
02/26/2013 Pre-Proposal Conference: 2:00 pm CST
03/01/2013 Deadline for questions concerning the RFP or services requested: 4:00 pm CST
03/08/2013 Responses to questions will be posted to the website listed on the bottom of page 1 of this notice as an addendum
03/19/2013 Deadline for proposal submission: 1:30 pm CST
05/06/2013 District Board award of contract
07/01/2013 Contract commencement
Other
1. The successful proposer will notify the District in writing within ten (10) days of any
changes in Federal or State regulations or laws that would thereafter affect the depository agreement.
2. The bank's records relating to the District's accounts shall be open to review by either the
District, its independent auditors and the Texas Education Agency.
3. The District reserves the right to pay for Depository services by targeted balances or by
fees.
4. The District reserves the right to exclude direct payroll deposit service from the
depository contract if the Depository does not offer direct payroll deposit service.
District Rights The District reserves the right to:
- waive any defect, irregularity or informality in the proposal or proposal procedures;
- reject any and all proposals;
- accept any proposal or portion thereof most advantageous to District;
Page 4 of 4
- request additional information or require a meeting with Depository representatives
for clarification;
- cancel, revise, and/or reissue this request for proposal or any portions thereof,
- negotiate any conditions;
- retain all other provisions even if any provision of the proposal is deemed invalid;
- modify deadlines; and
- select any proposal deemed to be in its best interest as determined by the District
Page 1 of 15
Last Modified: 2/7/13
PROPOSAL FORM RFP #1260
FOR DEPOSITORY SERVICES BY
RICHARDSON INDEPENDENT SCHOOL DISTRICT
All questions in this form should be answered and provided to the District as the
Depository’s proposal.
The District reserves the right to reject any and/or all proposals and if any portion or
provision of this proposal and/or any contract between Depository and District entered into is
invalid, the remainder at the option of the District shall remain in full force and effect and not
be affected.
BANK COMPENSATION
Does the District have the option to pay for Depository services by targeted balances or by
fees? Please describe any differences in related costs to the District with either option. If
the District chooses one option for the life of the contract, is there a difference in service
fees?
Target Balance Compensation Basis:
The District may choose to pay for Depository services on a compensating balance basis,
maintaining a targeted amount of its funds in the Depository. The District will maintain
balances in the checking accounts to compensate the Depository in full or in part for
services provided. Earnings credit for these balances shall be reflected on the monthly
account analysis provided to the District.
Any excess collected balance may be invested daily by the Bank as directed by the District,
in a District approved overnight investment, an interest bearing account, or an SEC
registered money market mutual fund. The overnight investment and any index upon which
the rate will be based should be listed below.
The rate history at the Depository for the months beginning October 2012 and ending
December 2012 was:
Oct. 2012 Nov. 2012 Dec. 2012
ECR Rate: __________% __________% __________%
Interest Bearing Accounts: __________% __________% __________%
Money Market Accounts: __________% __________% __________%
Sweep Accounts: __________% __________% __________%
If any of these rates is based on an index rate (such as the T-Bill auction rate) stipulate the
index calculation basis.
Fee Basis Compensation:
The District may choose to pay for Depository services on a straight fee basis in which no
targeted balance will be maintained by the District. Fees will be assessed and paid in
accordance with the Depository’s proposed fees as listed on Attachment A.
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 2 of 15
Last Modified: 2/7/13
DISTRICT INVESTMENTS
The District reserves the right to purchase, sell and invest its funds and funds under its
control, including bond funds, as authorized by the Government Code, Chapter 2256, Public
Funds Investment Act, and in compliance with the District’s Investment Policy, a copy of
which is attached as Attachment C.
The District may choose to invest in time deposits at the Depository, but all investments
including CDs are bid competitively at the time of purchase.
COLLATERALIZATION
The Depository must provide either corporate surety bonds or pledged securities as per
Texas Education Code §45.201. Please specify which method the Depository will use for
collateralization of District funds.
Collateral Conditions
The Depository shall provide collateral equal to 102% of all District time and demand
deposits plus accrued interest minus applicable FDIC coverage (110% if pledging mortgage
backed securities.). Collateral will be pledged to the District and held in an independent
safekeeping institution by a custodian or permitted institution as specified by the Public
Funds Collateral Act (Texas Government Code, Chapter 2257). Alternatively, the District
may specify any limitations on its preferred custodial arrangement. The Depository will be
liable for monitoring and maintaining the collateral and the required margin at all times and
will provide original safekeeping notice and a monthly report of the collateral to include the
security description, par amount, cusip, and market value, at a minimum.
The Depository and District shall execute a collateral agreement in accordance with
FIRREA. A sample Collateral Agreement should be attached as Attachment D.
The District estimates its maximum anticipated collateral requirement to be $80,000,000.00.
[If voluntary collateral pooling is legislated during the period of this contract, the District may
consider and agree to its use under this contract with mutual agreement of the Depository.]
Eligible Collateral
The District will accept only approved securities as specified by Texas Education Code
§45.201 as pledged collateral.
BANKING SERVICES FEES
Based on the Depository services required by the District, the Depository shall complete the
proposed fee schedule, Attachment A.
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 3 of 15
Last Modified: 2/7/13
DEPOSITORY INFORMATION
Please answer the following questions concerning the Depository.
1. State full name and address of the Depository and any parent holding company. List all
branch locations within the District’s boundary.
2. Provide the UPBR reference or annual audited financial statement for the most current
fiscal year. This may be in printed form, but an electronic link to the web site(s) is
preferable. Members of Depository holding companies must include corporate annual
financial statements and the individual Depository's call report for the most recent
operating quarter.
3. State the Depository’s rating from an independent Depository rating agency or, if not
available, the rating on the Depository’s senior and subordinate debt. Any change in this
rating during the period of the contract must be communicated to the District in a
reasonable period of time.
4. Contact Information
To insure smooth contract implementation and continuation of services, a specific
account executive and a back-up must be assigned to the District account to coordinate
services and expedite the solution of any problem encountered.
a. Designate a Depository officer as a primary contact with the District.
Name______________________________
Title _______________________________
Telephone # ________________________
Fax # ______________________________
E-Mail _____________________________
b. Designate a Depository representative as a backup contact with the District.
Name______________________________
Title _______________________________
Telephone # ________________________
Fax # ______________________________
E-Mail ______________________________
c. In the event the primary and backup contacts aren’t available, what is the District’s
procedure for an emergency contact? After hours?
d. Describe in detail how the Depository handles problem resolution, customer service,
day-to-day contact, and ongoing maintenance for governmental clients. Please be
specific about exactly whom the District will be calling and working with for the above
described situations.
5. List references from at least three of the Depository’s current, comparable governmental
clients. Include the length of time under contract, a client contact, title, and telephone number.
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 4 of 15
Last Modified: 2/7/13
6. Based on the services required by the District, please provide a proposed timeline for implementation of the contract including the timeline activities and direct responsibilities of the District and the Depository during implementation.
7. Provide a copy of all agreements (including those not directly referenced in this RFP)
which will be required to be executed under the contract. 8. The Depository awarded the contract will be required to review the then-current District
Investment Policy and certify in writing to that review in accordance with the Public Funds Investment Act certifying that the Depository has sufficient controls in place to avoid transactions not authorized by the Policy. The District has attached its investment policy to this RFP notice.
9. A pre-award interview may be conducted on site at the Depository prior to contract award
or at any other location of the District’s choosing. Please provide the District with a
contact name for arranging the pre-award interview.
10. Is the Depository offering any transition or retention incentive to the District? If so,
please describe in detail.
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 5 of 15
Last Modified: 2/7/13
BANKING SERVICES 1. Consolidated Account Structure with Sweep Mechanism The District is interested in earning at then-current interest rates available at all times. The District wants the option to use an automated, daily sweep to a money market mutual fund or Depository alternative account (if competitive) to reach its full investment goal. The District’s current account structure is listed as Attachment B. The District does not guarantee that the balances will be maintained. The Depository shall clearly describe the Depository's most cost effective account structure (interest bearing accounts, ZBA accounts, or sweep, etc.).
a. Fully describe the proposed account structure. Would a sweep be from a master
account with ZBAs or directly swept from the individual accounts. Is interest distributed at the account level?
b. State the average interest rate on the recommended alternative structure for the past twelve months.
c. If an SEC registered money market fund is utilized for the sweep proposal, provide the full name and a copy of the prospectus.
d. Interest earned on interest bearing accounts shall not be charged as an expense on the account analysis. Confirm acceptance of this condition.
The District may be required or may desire to open additional accounts, close accounts, or change account types during the contract period. If this occurs, the new accounts and services shall be charged at the same contracted amount or, if unanticipated, at not more than published rates. 2. Automated Cash Management Information The District is interested in automated balance and detail information. Minimum automated services shall include:
prior day summary and detail balance reporting on all accounts
intra-day detail and summary balances (on local main and payroll accounts)
initiation and monitoring of stop pays
positive pay exception transactions
initiation and monitoring of internal and wire transfers
image access
controlled disbursement presentment totals
a. Fully describe the Depository’s on-line service. List the system capabilities (i.e. balance reporting, wires, positive pay, stop pay, etc.).
b. What is the Depository’s back-up process to provide balance reporting and transactions in case of system non-availability?
c. When is daily balance information available?
d. Submit samples of major screens available or provide web link access to a demonstration module.
e. How are individual security sign-ons assigned and who maintains the security module? How many levels of security are available?
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 6 of 15
Last Modified: 2/7/13
f. With regard to controlled disbursements— -- What is the cutoff time for disbursements? -- What Federal Reserve location do these accounts clear through? -- How does the District have access to this information?
3. Deposit Services Standard commercial deposit services are required for all accounts. The District expects all deposited checks to clear based on the Depository’s current published availability schedule, but any expedited availability options should be noted in the proposal. All cleared deposits received by the Depository's established deadline must be processed for same day ledger credit. Failure to credit District accounts in a timely fashion will require interest payment reimbursement to the District at the then-current effective Fed Funds rate.
a. What is the Depository’s daily cut-off time to assure same day ledger credit?
b. Describe how and when credit/debit advices are sent to the District?
c. What type deposit bags are used/required? Are these available from the Depository?
d. In what city does item processing occur? Remote Deposit The District is interested in establishing remote check deposit for a few high volume locations during the contract period. These deposits include both consumer and commercial checks.
e. What are the Depository's current capabilities in remote check deposit? Describe how checks are processed and cleared. Please state the cut-off time for same-day ledger credit.
f. Give two comparable references with contact information.
g. Is a daily balancing report produced? Provide a sample.
h. What scanner equipment is required to operate the system? Is this equipment available through the Depository on a purchase or lease basis? Please list the equipment required along with its cost.
4. Standard Disbursing Services The District is interested in positive pay services for designated accounts.
a. Does the Depository image all checks and deposits?
b. Are checks and deposit images available on-line? When? Is a CD provided monthly? If not, are reports downloadable?
c. How long are checks and deposit images maintained on-line?
d. Are all District checks paid without charge upon presentation? 5. Positive Pay The District is interested in positive pay services for designated accounts on which checks are written. The positive pay process should be fully automated and web based. Check information will be transmitted electronically to the Depository on each check run and as manual checks are created.
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 7 of 15
Last Modified: 2/7/13
a. Describe the data transmission/transfer requirements for automated and manual checks.
b. Is input available online for manual checks? If not on-line, how is information on individual manual checks transmitted to the Depository?
c. How can check records be changed or deleted by the District, if necessary?
d. How is the District to be notified of a positive pay exception?
e. At what time is exception information reported to the District? At what time is the deadline for District exception elections? Are images of exceptions available?
f. Are all checks, including those received by the tellers and vault, verified against the positive pay file before processing? How often is teller information updated?
g. Does the Depository offer payroll positive pay?
h. Please provide a copy of the Depository’s file layout format. 6. Account Reconciliation The District anticipates use of partial or full reconciliation services on all accounts in concert with positive pay, dependent upon cost effectiveness.
a. Describe the partial and full reconciliation processes.
b. With what format(s) does the Depository’s system interface? What record formats are required? How is reconciled data sent to the District? When?
c. Specify all reporting alternatives.
d. Are reports available online? How long are reports maintained online? Provide a sample copy of reports.
7. Funds Transfer and Wire Services Incoming wire transfers must receive immediate same day collected credit. Wire initiation should be available online. The District requires that wires be released the same business day if information is provided by the established deadline.
a. Describe the process of online wire initiation. What back-up process is available for the on-line process in case of system unavailability?
b. Is any paper transaction required for transfers or wires as follow-up?
c. How and when will the Depository notify the District of incoming wires? Online? E-mail?
d. Is future dating available for both repetitive and non-repetitive wires and transfers? How far in advance?
e. What is the deadline for initiation
-- by telephone?
-- on-line?
f. Are templates available for repetitive transfers? 8. Optical Imaging The District desires optical images which are downloadable or on CD on all accounts.
a. What items and reports are available on-line (checks, statements, deposit slips, deposited items, etc.)?
b. What items are captured on the monthly CD, if provided?
c. When are the monthly CD or imaged reports available?
d. When and how long are statements and account analyses available on-line?
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 8 of 15
Last Modified: 2/7/13
9. ACH Services The District expects to move toward more ACH transactions for payable and receivable transactions. The District requires a pre-notification (pre-note) on all new transactions.
a. Describe the transmission alternatives for individual ACH transactions. Is the District able to initiate individual ACH transactions on line?
b. What filters and blocks are available on District accounts for ACH transactions?
c. Are ACH addenda shown in their entirety on-line and on reports?
d. What is the Depository’s policy on pre-notification? Is the pre-note charged as a standard ACH transaction?
e. What is the deadline for transmission (hour and day) for a payroll to credit employee accounts on a Friday?
10. Investments and Safekeeping Services The Depository will be required to provide book-entry safekeeping services for any securities owned by the District. All District investments will be made by the District and instructions for clearing and safekeeping will be transmitted to the Depository in writing. All securities must be cleared on a delivery versus payment (DVP) basis and ownership documented by original clearing confirmations and safe-keeping receipts provided within one business day of the transaction. Funds for investments will be drawn from a designated District DDA account. All P&I payments, coupon payments, and maturities must receive automated same day collected credit on the District designated account without requiring any additional District action. If the Depository is not a member of the Federal Reserve or a federal home loan bank and utilizes a correspondent bank for safekeeping of District securities, the transactions will be handled through the Depository's systems and shall not require additional interaction by the District with the correspondent bank. No delay in transactions, wires or flow of funds will be acceptable under a correspondent relationship.
a. Is the Depository a member of the Federal Reserve or a federal home loan bank? If not, name the correspondent Depository to be used for clearing and safekeeping. Describe any safekeeping arrangement proposed with a correspondent Depository including processing requirements by the District.
b. Are security transactions available on-line for either origination or monitoring?
c. What is the deadline for settlement instructions on a cash (same day) settlement? Is there any charge incurred for late instructions?
The District may choose to purchase time deposits from the Depository, but all time deposits will be competitively bid at the time of purchase. 11. Collateral Requirements All the requirements, including those beyond the Public Funds Collateral Act, as stated in the District’s Investment Policy and below, must be met by the Depository. The proposal must state agreement to the following terms and conditions.
All collateral pledged to the District must be held by a custodian or permitted institution as specified by the Public Funds Collateral Act (Texas Government Code, Chapter 2257)
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 9 of 15
Last Modified: 2/7/13
A tri-party safekeeping agreement shall be executed between the District, the Depository, and the safekeeping bank for custody of pledged securities in full compliance with FIRREA requiring a Depository resolution. (Or completion of Circular 7 if the Federal Reserve is acting as custodian. Use of the FRB will still require a depository agreement be executed between the District and the Depository.)
All time and demand deposits above FDIC coverage shall be collateralized at a minimum of 102% of principal plus accrued interest at all times (110% on mortgage backed securities.)
The Depository shall be contractually liable for the continuous monitoring and maintaining of collateral at the District's required margin levels.
Pledged collateral shall be evidenced by original safekeeping receipts/report sent directly to the District by the custodian within one business day of receipt.
The District shall receive a monthly report of collateral pledged including description, par, market value and cusip, at a minimum.
Substitution rights shall be granted if the Depository obtains the District’s prior approval and if substituting securities are received before previously pledged securities are removed from safekeeping.
Authorized collateral includes only approved securities as specified by Texas Education Code §45.201.
a. Does the Depository propose any collateral charges? If so, under what
conditions are they charged and how is the charge applied?
b. What is the Depository’s deadline for requesting collateral in excess of existing requirements?
c. Can the Depository collateralize deposits based on ledger balances instead of collected balances? If so, what additional charges would apply?
d. Because the District’s revenue is the greatest from November to February, there is a higher risk of having excess collateral during these months. What can the Depository offer to minimize collateral fees during these months?
12. Account Analysis Monthly account analysis reports should be provided for each account and on a consolidated account basis.
a. When is the analysis available each month?
b. Is the account analysis available online? Is it imaged monthly?
c. Are paper statements also sent to the District? If so, when?
d. How long will it take the Depository to correct any billing errors on account analysis?
13. Monthly Statements The Depository must provide monthly account statements on all accounts with complete supporting documentation.
a. State when monthly statements will be available each month.
b. Is the monthly statement available online? If so, when and how long? Are the statements imaged or on a CD?
c. If imaged, are paper statements also sent to the District? If so, when?
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Last Modified: 2/7/13
14. Overdrafts
a. Are all accounts aggregated for overdraft calculation purposes?
b. State the rate basis for intra-day and inter-day overdrafts.
c. What is the policy for daylight overdrafts? 15. Stop Payments An automated stop pay process is desired.
a. What are the time period options available for stop pays?
b. What are the time period options for extended stop pay periods? How is it extended?
c. What is the cut-off hour for same day action on stop pays?
d. Can stop pay orders be initiated on-line? If so, is there any paper follow-up document required?
e. What information on current and expiring stop pays is available on-line? 16. Customer Service Does the Depository offer customer services in languages other than English? What languages are offered? 17. Service Enhancements Based on the information provided in the RFP and your firm’s knowledge of the public sector, please describe any services or technological enhancements, not previously mentioned, that should be considered for further improving the effectiveness of the District’s treasury management operations.
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 11 of 15
Last Modified: 2/7/13
OPTIONAL SERVICES 1. NSF Checks Represented as ACH (RCK) The District may want the option of the second presentment to be made by ACH to targeted dates for maximum collection potential.
a. Is the Depository currently using ACH for collection of NSF checks? How long has the Depository been providing this service? Provide two comparable references with contact information.
b. How are the NSF and the later ACH matched/reconciled? Does the Depository system cross reference the two transactions in any way?
c. Is the NSF information, image, or occurrence available on-line? When and how? How long is it available online?
d. Can the District specify any target pay day(s)? 2. Merchant Services. The District is interested in possibly accepting credit card payments for various activities. The service should include daily capture, transmission and authorization of payments at point-of-sale and on the web. Reporting would be required by location.
a. Does the Depository currently offer merchant card processing services? How long has this service been available? What interface format(s) does the Depository’s system supply?
b. How many institutions and end customers do you have?
c. Describe the fee components of a merchant card processing relationship. Provide a list of all the fees to the District. State the association fees, discount rates, and the Depository's fee per transaction.
d. Does the Depository have software available for implementation which allows on-line payments to the District through the Depository’s portal?
e. Describe the reporting functions and data availability.
f. Detail billing options.
g. Describe the authorization method/process used. How are incorrect authorizations reversed?
h. Describe your debit card processing capabilities. Do you identify between debit and credit cards on BIN number? Can you program a debit card to the lowest cost network?
i. Describe your transmission process. Describe the monitoring and notification process if transmissions fail.
j. Is data imaging available on line? What is available online? When? For how long?
k. Describe the dispute resolution process.
l. Describe your security measures for internet transactions and unauthorized use.
3. Payroll Cards/Debit Cards The District is exploring the use of stored value cards (payroll card/debit card) as a payroll option for employees at a minimum. Card holders should have the ability to use the cards for purchases at point of sale as a debit card as well as cash withdrawals at financial institutions and ATMs.
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Last Modified: 2/7/13
The purchasing ability of the cards must be limited to the stored value of the card. The District may choose to not pay for access fees for the employees issued the stored value cards. The District will be responsible for any marketing of the program and has total discretion on the distribution of the cards. The District will enroll the employees. The Depository is required to provide card holders with all processing and transaction information and reports. Services expected from the Depository would include, at a minimum:
- embossing, encoding and distributing standard cards as directed by District
- provision of paper/electronic statements to cardholders
- administration of accounts to include maintenance of accounts, application of funds, authorization of transactions, related tracking
- customer service functions
a. Does the Depository currently provide this service? If so, how long has it been available?
b. How many institutions and end customers use the service? Provide three comparable references for the service.
c. Which program (authorization marks) does your program use? (Visa, MC, etc.)
d. Describe the enrollment process. Is enrollment batched and web-based?
e. Describe the manner by which funds will be made available to the card-holders.
f. What are the inactivity levels for the program? Do these generate additional fees? Describe any other potential fees.
g. Are all funding transmissions by standard ACH? Describe the data transmission requirements and deadlines.
4. Purchasing Cards The District may consider a purchasing card program during the contract period. Cards would be assigned to District employees for defined use.
a. What card platform does the Depository support (MC, Visa)? Is a third party processor used?
b. What, if any, information is available on-line? When? Describe data download and integration capabilities. Describe reporting capabilities
c. What client support is available? How is it provided?
d. Describe the diverse parameters and restrictions available for the card control. How many access levels are available?
e. Discuss settlement and corporate liability terms. Include information on Depository support for the program, the Depository’s experience, settlement terms on payment, security procedures, and license requirements. How will billing be received?
f. Describe how cards are issued, deleted or replaced. How are lost/stolen cards handled?
g. Provide three comparable references for the service.
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 13 of 15
Last Modified: 2/7/13
5. Company Bank Program The District is interested in giving its employees the opportunity for enhanced, personal banking services.
a. Does the Depository have a banking program available for District employees?
b. List services provided under this program with applicable discounts or fees to the District or employee.
c. Is availability of the program based on use of direct deposit or District employment?
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 14 of 15
Last Modified: 2/7/13
List of schedules/attachments provided by District:
District audited financial statements:
http://www.risd.org/Group/Departments/Budget_Finance/AnnualFinanceReport.html
Attachment A, Volumes for Pricing Transactions (filled in with volumes)
Attachment B, District’s Current Account Structure
Attachment C, District Investment Policy
General Stipulations and Conditions of Proposal
Conflict of Interest Questionnaire
Certification Regarding Debarment, Suspension, and Other Responsibility Matters
List of schedules/attachments to be provided by Depository:
The following information must be included with the proposal:
Copy of Depository audited financial statements or link to web site
Corporate audited financial statements and the individual Depository’s call report (for
members of Depository holding companies) or link to web site
UPBR reference
Attachment A, Volumes for Pricing Transactions (filled in with rates)
Sample Account Analysis Statement and User’s Guide (if applicable)
Attachment D, Sample Collateral Agreement (if applicable)
Any agreements (including those not directly referenced in this RFP) which will be required
to be executed under the contract (if applicable)
Samples of major screens or web access for automated cash management (if applicable)
Sample daily balancing report for Remote Deposit (if applicable)
Sample account reconciliation reports (if applicable)
Signature Sheet from General Stipulations and Conditions of Proposal
Conflict of Interest Questionnaire
Certification Regarding Debarment, Suspension, and Other Responsibility Matters
RFP #1260 – REQUEST FOR SEALED PROPOSAL FOR DEPOSITORY SERVICES Page 15 of 15
Last Modified: 2/7/13
Optional Acknowledgements
The Depository confirms that interest earned will not be charged on the account analysis.
If awarded the contract, the Depository will be required to review the then-current District
Investment Policy and certify in writing to that review in accordance with the Public Funds
Investment Act certifying that the Depository has sufficient controls in place to avoid
transactions not authorized by the Policy.
The Depository accepts the investment options and/or collateral conditions as specified in
the District’s Investment Policy.
By virtue of the proposal submission, the Proposer acknowledges agreement with and
acceptance of all provisions of the specifications except as expressly qualified in the
proposal.
Firm: ____________________________________________________________________
Address: _________________________________________________________________
City/State/Zip: _____________________________________________________________
Phone No: ________________________________________________________________
Fax No: __________________________________________________________________
Email Address: ____________________________________________________________
Typed Name: ______________________________________________________________
Date: ____________________________________________________________________
Provide a price schedule for all services and include any one-time charges or set-up fees.
Est. Unit Bank Explanatory
Service Unit Basis Vol. Charge Notes, if applicable
Account Deposit Services
Master Account Maintenance Fee Per account 8
Subsidiary Account Maintenance Per account
Money Market Account Maintenance Fee Per account
Interest Bearing Accounts Maintenance Fee Per account
ZBA Accounts Maintenance Fee Master Per account 1
ZBA Accounts Maintenance Subsidiary Per account 3
ZBA Account Transfers Per item
Investment Sweep - Master Account Per account/mo
Investment Sweep - Subsidiary Accounts Per account/mo
Debits Posted Per item 2
Credits Posted Per item 1
Debits Posted - Electronic Per item 30
Credits Posted - Electronic Per item 111
General Checks Paid Truncated Per item 933
Checks Deposited Unencoded Items Per item 6,936
Online DDA Statement Per statement 8
DDA Statement Per statement 9
Paper DDA Statement Resent Per statement 1
Image Deposit - Image Cash Letter Per item 43
Image Deposit - Remote Deposit Per item 1,494
Online Account Transfer Per transfer 1
Automated Services - Balance & Detail
If Services are Bundled:
Bundled Balance & Activity Reporting Per month
Monthly Maintenance Per month/account
Detail Item Fees Per item
If services are Un-Bundled (by Module)
Online Information Services Per month 1
Online Information Reporting Maintenance Per month 1
Balance Reporting Module Maintenance Per account
Daily Balance Reporting Per account 11
Previous day Reporting Per account 12
Previous Day Dr/Cr Items Per item
ACH Module Maintenance Per account/overall
ACH Detail Per item
Reconciliation Module Maintenance Per account/overall
Recon detail Per item
Stop Pay Module Maintenance Per account/overall
Stop pay item Per item
Wire and Internal Transfer Module Maintenance Per account/overall
Addenda reporting Per item
Positive Pay Module Per account/mo
ATTACHMENT A (see Pricing Sheet link for electronic version)
RICHARDSON ISD - RFP #1260 - DEPOSITORY SERVICES
Provide a price schedule for all services and include any one-time charges or set-up fees.
Est. Unit Bank Explanatory
Service Unit Basis Vol. Charge Notes, if applicable
ATTACHMENT A (see Pricing Sheet link for electronic version)
RICHARDSON ISD - RFP #1260 - DEPOSITORY SERVICES
PP Detail Per item
Detail Transactions - All modules Per item
IDX Previous Day Account Per account 2
Previous Day Stored Item Per item 1,491
Previous Day Item Stored for 2 Months Per item 1,056
Previous Day Max Item Per item 336
Current Day Stored Item Per item 1,960
Previous Day Ext Item Per item 2,037
Paid Item Inquiry Online Per inquiry 33
Deposits
Commercial Account Maintenance Per account
Banking Center Deposits Per item 13
Night Drop Deposit Per item 26
Items Deposited
Items deposited Per deposit 9
On-us Items Per item
Local items Per item
Local Fed/RCPC Clearing Per item
City Items (in state) Per Item
Other State Items Per item
11th Fed Country Items Per item
Other 11th Fed RCPC Items Per item
Transit Item Clearing Per item
Encoding Charge Per item
Cash Vault
Cash Vault Base Fee Processing Fee Per item
Standard Deposit Vault Per deposit 1,419
Standard Deposit Note Vault Per deposit
Deposit Conditiioning Surcharge Per deposit 44
Currency Deposits
Cash deposited Per $100 4,461
Strapped currency furnished Per strap 2
Currency Wraps Shipped Per strap
Coin Deposits
Full bag - loose coin
Partial bag of loose coin Per bag 3
Rolled Coin Furnished Per roll 2
Minimum Change Order
Nonstandard Bag Surcharge Per bag 1
Branch Order Processing Per Order
Branch Per Deposit Per Deposit
Branch Coin Shipped Per Shipment
Change Order Per item 3
Provide a price schedule for all services and include any one-time charges or set-up fees.
Est. Unit Bank Explanatory
Service Unit Basis Vol. Charge Notes, if applicable
ATTACHMENT A (see Pricing Sheet link for electronic version)
RICHARDSON ISD - RFP #1260 - DEPOSITORY SERVICES
Nonstandard Currency Supplied Per $100 2
Deposit Corrections Per item 26
Fax Notification - Deposit Correction Notice - Vault Per item 14
Duplicate Fax Notification - Deposit Correction Per item 17
Return Item - Per item Per item
Return Items Return and Reclear Per item 33
Return Items - Reclear Services Per account 2
Charge-backs Per item 20
Return Check Notice Fax Per item
Return Check Notice Internet Per item
ACH Processing
Service Monthly Maintenance (Base) Fee Per month/account 2
ACH Transactions Originated Per item
Debits Originated Per item
Credits Originated Per item
Electronic Consumer Credit Received/Posted Per Item 6,556
Electronic Corporate Credit Received/Posted Per Item 10
Electronic Debit Recived/Posted Per item
Electronic Originated Addenda Per item 592
ACH Return Items Per item 3
Return Notification Per Item
Deletions or Reversal Charges Per item 2
Transmission Per file 7
Transmission Setup/Test Per Item 1
ACH Setup Per Item 1
Fraud Filter - Review - Base Fee Per month 1
Fraud Filter - Review - Per Item Per item 10
Fraud Filter - Add/Change Per item 1
Reports - by Fax Per item 4
Optional Reports - Electronic Per item 1
ACH Notification of Change Per item 2
Online ACH Notifications Per item 1
ACH Positive Pay Account Maintenance Per account 1
Positive Pay
Service Monthly Maintenance (Base) Fee* Per account or mo
Positive Pay Item Per item 1
Per item charge with Partial Recon Per item
Per item charge with Full Recon Per item
Per item without recon services
Transmission - File Transmission Per item
Positive Pay Return - Other than Fraud Per item 1
Teller Positive Pay Issue Not Found Per item 1
Imaging
Imaging Maintenance Per month 6
CD Rom Service - Per Item Per item 4,284
Provide a price schedule for all services and include any one-time charges or set-up fees.
Est. Unit Bank Explanatory
Service Unit Basis Vol. Charge Notes, if applicable
ATTACHMENT A (see Pricing Sheet link for electronic version)
RICHARDSON ISD - RFP #1260 - DEPOSITORY SERVICES
CD Rom Service - Per Disk Per item 2
Image Retrieval Online Per item 260
Reconciliation
ACH Monthly Maintenance Per Month
Partial Recon Monthly Maintenance Per Month
Partial reconciliation - detail Per item
Full recon monthly maintenance Per month 4
Full recon detail Per item 2,750
Deposit Reconciliation - Mo Maintenance Per Month 2
Deposit Recon - per detail Per item 1,643
Transmissions Per Transmission 6
Transmission Detail Per item
Provide a price schedule for all services and include any one-time charges or set-up fees.
Est. Unit Bank Explanatory
Service Unit Basis Vol. Charge Notes, if applicable
ATTACHMENT A (see Pricing Sheet link for electronic version)
RICHARDSON ISD - RFP #1260 - DEPOSITORY SERVICES
Safekeeping
Service Monthly Maintenance Custody Per month 1
Clearing Fees
Securities Received/ Delivered - DVP Per item 2
Safekeeping Fees Per $1,000 1,000
Custody per Cusip/Holding Per cusip 23
Income Collection to DDA Per item 7
Asset Maintenance Monthly Fee Per $1,000 60,117
Stop Pays
Stop Pays (automated) Per item 22
Stop Pay Item Inquiry Online Per item 1
Wire Transfers
Service Monthly Maintenance* Per month 1
Online Wire Monthly Maintenance Fee Per month 1
Incoming - Domestic Straight Per item 3
Outgoing - repetitive - automated,domestic Per item 8
Outgoing - non-repetitive - automated,domestic Per item 3
Book Transfer Internet Initiated Per item 1
Wire Advices Faxed/Mailed Per item
Wire Book Maintenance Temporary Storage Per item 12
OPTIONAL SERVICES REQUESTED
Remote capture of checks
One-time set-up or training fees One time
Monthly maintenance Per month/card 1
Capture and transmission fee from provider Per item 1,539
On-us Item Per item
Local Item Per item
Transit Item Per item
Online Image Storage Per item 73,633
Remote Check Scanner Maintenance Per month 1
Deposit Correction - Remote Deposit Per item 2
RCK Services
RCK Maintenance Per account/mo
RCK Detail Per items
Pay/Debit Cards
Service Monthly Maintenance Per month
Processing and servicing Per card
Implementation fee One time
Initial system design and development One time
Enrollment Per card
Corrections Per item
Employee Charges
ATM Cash Withdrawal - On-us Per item
ATM Cash Withdrawal - non-bank Per item
Cash Advance OTC Per item
Provide a price schedule for all services and include any one-time charges or set-up fees.
Est. Unit Bank Explanatory
Service Unit Basis Vol. Charge Notes, if applicable
ATTACHMENT A (see Pricing Sheet link for electronic version)
RICHARDSON ISD - RFP #1260 - DEPOSITORY SERVICES
ATM Balance Inquiry Per item
Overdraft Fee Per item
Lost/stolen replacement fee Per card
Standard reporting Per item
Purchasing Cards
Service Monthly Maintenance Per month
Card Issuance Fee Per card
Transaction Fee Per item
License Fee Per month
Rebate on amt purchased <$1mm
Merchant Card Services
Fees
One-time set up fee
Application fees: First location
Locations 2-5
Locations >5
Annual fee / Monthly Maintenance fee Per month/location
Monthly Statement Fee Per month
Supply fee Per month
Minimum processing fee
Internet Set-up fee Per location
Credit Card Processing fees Per item
VISA CPS-2 Interchange %
Assocation %
Visa fee $
Bank fee $
MC Merit III Interchange %
Assocation %
MC fee $
Bank fee $
Visa Check Card Interchange (Signature) %
Assocation %
Visa fee $
Bank fee $
MC Debit Card Interchange (Signature) %
Assocation %
MC fee $
Bank fee $
Debit Card Processing MC/Visa
Authorization Fees
Voice authorizations
Address verification
Terminal Authorizations
MC Electronic authorization
Discover Electronic authorization
AmEx Electronic authorization
Processing Fees
Chargeback processing
Batch settlement fee
Provide a price schedule for all services and include any one-time charges or set-up fees.
Est. Unit Bank Explanatory
Service Unit Basis Vol. Charge Notes, if applicable
ATTACHMENT A (see Pricing Sheet link for electronic version)
RICHARDSON ISD - RFP #1260 - DEPOSITORY SERVICES
Transmission Fee Per item
Transmission - Item Per item
Other
Collected Overdraft Interest Charge $ 1,731
FDIC Assessment $ 35,416,538
Controlled Disbursement Maintenance Per account 1
Controlled Disbursement Checks Paid Per item 1,722
Controlled Disbursement Funding Credits Per transaction 21
Nonrelationship Customer Checks Cashed Per item 34
Average Collected Balance $ 12,306,232
Average Ledger Balance $ 11,098,236
ATTACHMENT B
RFP #1260 – DEPOSITORY SERVICES FOR RICHARDSON INDEPENDENT SCHOOL DISTRICT DISTRICT’S CURRENT ACCOUNT STRUCTURE
The District presently maintains accounts as listed below. The District reserves the right to open
additional accounts or to close accounts during the course of the depository contract.
Type of Account Number of Interest Bearing/
Accounts Non-Interest Bearing
General Operating Account 1 NIB
Debt Service Fund 1 NIB Food Service Fund 1 NIB
Capital Projects Fund 1 NIB
Accounts Payables Controlled Disbursement 1 NIB Payroll Clearing ZBA 1 NIB
Flexible Spending ZBA 1 NIB Worker’s Compensation ZBA 1 NIB
Savings Account 1 IB
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 1 of 9 LDU 2012.01 CDA(LOCAL)-X
It is the policy of the District to invest public funds in a manner that ensures the safety of invested funds, maintains sufficient liquidity to provide for the daily needs of the District, and provides the highest investment return. All investments made by the District shall comp-ly with the Public Funds Investment Act (Texas Government Code Chapter 2256, Subchapter A) and all federal, state, and local sta-tutes, rules, and regulations.
Investments shall be made with judgment and care, under then-prevailing circumstances, which a person of prudence, discretion, and intelligence exercises in the management of the person’s own affairs, not for speculation, but for investment, considering the probable safety of the capital, as well as the probable income to be derived.
The standard of prudence to be used by investment officials shall be the ―prudent person‖ standard and shall be applied in the con-text of managing an overall portfolio. Investment officers acting in accordance with written procedures and the investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security credit risk or market price changes, pro-vided that deviations from expectations are reported in a timely fa-shion and appropriate action is taken to control adverse develop-ments.
In order of importance, the primary objectives of the District’s in-vestment activities are:
Safety — Investments of the District shall be selected in a manner that seeks to ensure the preservation of capital in the overall port-folio. To meet this objective, the portfolio must be diversified in such a way that potential losses of individual securities do not ex-ceed the income generated from the remainder of the portfolio.
Liquidity — The District’s investment portfolio will remain sufficient-ly liquid to enable the District to meet all operating requirements that can be reasonably anticipated based upon cash flow projec-tions, which are to be prepared on a combination of a weekly, monthly, and annual basis.
Return on Investment — The District’s investment portfolio shall be designed with the objective of attaining a rate of return throughout budgetary and economic cycles, commensurate with the District’s investment risk constraints and the cash flow characteristics of the portfolio.
The District shall have a written investment strategy for each fund or group of funds it controls. Additional descriptions of investment
POLICY
PRUDENCE
OBJECTIVES
INVESTMENT STRATEGY
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 2 of 9 LDU 2012.01 CDA(LOCAL)-X
objectives and strategies may be found in the Administrators Oper-ating Guide (AOG). Covered funds shall include the:
1. General fund.
2. Special revenue fund(s)—including funds used to account for federal, state, and local grants, as well as the food service fund and the campus activity fund.
3. Debt service fund(s).
4. Capital project fund(s).
5. Proprietary fund(s)—including the funds used to account for the workers’ compensation program.
6. Trust and agency funds—including the student activity fund.
The District shall follow the investment strategies listed below (in order of importance) for each covered fund:
1. Each investment option shall be reviewed to ensure under-standing of the suitability of the investment to the financial re-quirements of the District;
2. Investments shall be selected that provide preservation and safety of invested funds;
3. Investments shall support the District’s objective to remain sufficiently liquid;
4. Investments shall be marketable if the need arises to liquidate invested funds before maturity;
5. The investment type shall be consistent with the Board’s de-sired diversification of the investment portfolio; and
6. All invested funds of the District shall attain a rate of return commensurate with the District’s investment risk constraints and the cash flow characteristics of the portfolio.
The District shall diversify its investments in all funds by security type and institution. The District shall consider purchase of high quality short-term to medium-term securities that will complement each other in a laddered or liability-matching portfolio structure.
In addition to the strategies explained above for the debt service fund, the District may purchase securities that have maturities longer than one year provided the legal limits are not exceeded.
The investment committee shall review the investment strategies annually and make recommendations for revision as necessary. The investment committee includes, but is not limited to, the trea-
COVERED FUNDS
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 3 of 9 LDU 2012.01 CDA(LOCAL)-X
surer of the Board, the assistant superintendent of finance and support services, the director of treasury services, and the cash manager.
In accordance with the Public Funds Investment Act (PFIA), the responsibility for conducting investment transactions resides with the Board. Management oversight responsibility for the investment program is delegated to the assistant superintendent of finance and support services, who shall develop and maintain written pro-cedures for the operation of the investment program consistent with these policies.
Procedures to be set forth in the AOG should include reference to safekeeping, bond market association repurchase agreements, depository contracts, and collateral agreements. Such procedures shall include explicit delegation of authority to persons responsible for investment transactions. No person may engage in an invest-ment transaction except as provided under the terms of this policy and the procedures set forth in the AOG. The assistant superin-tendent of finance and support services shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials.
Designated investment officers of the District shall participate in periodic training through courses and seminars offered by profes-sional organizations, associations, and other independent sources approved by the investment committee to ensure the quality and capability of investment management in compliance with the PFIA.
The District’s designated investment officers shall attend an in-vestment training session not less than once every two fiscal years and shall receive not less than ten hours of instruction relating to investment responsibilities. The investment training shall be pro-vided by an independent source approved by the investment com-mittee and shall comply with the PFIA.
Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with prop-er execution of the investment program or that could impair their ability to make impartial decisions. Employees and investment of-ficers shall disclose to the Superintendent any material financial interest in financial institutions that could conduct business within this jurisdiction, and they shall further disclose any large personal financial/investment positions that could be related to the perfor-mance of the District, particularly with regard to the time of pur-chases and sales. A District investment officer who has a personal relationship [see Gov’t Code 2256.005] with a business organiza-tion offering to engage in an investment transaction with the Dis-trict, or who is related within the second degree by affinity or con-
AUTHORITY FOR INVESTMENT PROGRAM
QUALITY AND CAPABILITY OF INVESTMENT MANAGEMENT
INVESTMENT TRAINING
ETHICS AND CONFLICTS OF INTEREST
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 4 of 9 LDU 2012.01 CDA(LOCAL)-X
sanguinity to a qualified representative in that organization, shall file a statement disclosing that personal business interest in the manner described in the PERSONAL INTEREST section of CDA(LEGAL).
The investment officer will maintain a list of financial institutions, approved by the investment committee, who are authorized to pro-vide investment services. In addition, a list shall also be main-tained of approved security brokers/dealers selected by credit-worthiness who are authorized to provide investment services in the state of Texas. These brokers/dealers may include primary dealers or regional dealers that qualify under Securities and Ex-change Commission (SEC) Rule 15C3-1 (uniform net capital rule). No public deposit shall be made except in a qualified public deposi-tory as established by state laws.
All financial institutions and brokers/dealers who desire to become qualified bidders for investment transactions must supply the in-vestment officer with the following:
1. Audited financial statements;
2. Proof of Financial Industry Regulatory Authority (FINRA) certi-fication;
3. Trading resolution;
4. Proof of registration in the state of Texas;
5. Completed broker/dealer questionnaire; and
6. Certification of having read the District’s investment policy.
Investments shall be made only with business organizations and their qualified representatives that have certified in writing that rea-sonable procedures and control have been implemented in an ef-fort to preclude unauthorized transactions with the District. Gov’t Code 2256.005(k)(2)
This information shall be reviewed by the investment officer and a recommendation for addition to the list of approved bidders shall be submitted to the investment committee for approval.
An annual review of the financial condition and registration of new qualified bidders shall be conducted by the investment committee.
The District shall require competitive bidding for all individual secu-rity purchases and sales except for:
1. Transactions with money market mutual funds and local gov-ernment investment pools, and
AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS
COMPETITIVE BIDDING
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 5 of 9 LDU 2012.01 CDA(LOCAL)-X
2. Treasury and agency securities purchased at issue through an approved broker/dealer or financial institution.
From those investments authorized by law and described in CDA (LEGAL), the Board shall permit investment of District funds in the following investment types only, consistent with the strategies and maturities defined in this policy:
1. Obligations of the United States or its agencies and instru-mentalities; direct obligations of the state of Texas or its agen-cies; other obligations, the principal and interest of which are unconditionally guaranteed or insured by, or backed by the full faith and credit of, the state of Texas, the United States, or its instrumentalities, including obligations that are fully guaran-teed or insured by the FDIC or by the explicit full faith and credit of the United States; obligations of states, agencies, counties, cities, and other political subdivisions of any state rated as to investment quality by a nationally recognized in-vestment rating firm not less than A or its equivalent. Gov’t Code 2256.009
2. Certificates of deposit (CDs) issued by a depository institution that has its main office or branch office in Texas, that is guar-anteed or insured by the FDIC or its successor and is secured by obligations described in item 1 above, including mortgage-backed securities directly issued by a federal agency or in-strumentality that have a market value of not less than the principal amount of the certificates or are secured in any other manner and amount provided by law for the deposits of the investment entity; or CDs invested through an approved bro-ker or depository institution that has its main office or a branch office in Texas, is appointed by the District as custodian, and who arranges for the deposit of funds in CDs in one or more federally insured depository institutions, in which the full amount of the principal and accrued interest is insured by the United States or its instrumentalities. Gov’t Code 2256.010
Bids for certificates of deposit may be solicited orally, in writ-ing, electronically, or in any combination of those methods. Gov’t Code 2256.005(c)
3. Fully collateralized repurchase agreements that have a de-fined termination date, are secured by a combination of cash and obligations of the United States or its instrumentalities, are pledged to the District, held in the District’s name, and deposited with a third party selected and approved by the in-vestment committee, and placed through a primary govern-ment securities dealer, as defined by the Federal Reserve or a bank domiciled in Texas. Gov’t Code 2256.011
AUTHORIZED AND SUITABLE INVESTMENTS
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 6 of 9 LDU 2012.01 CDA(LOCAL)-X
The District shall have a master repurchase agreement signed with the bank or dealer with whom all repurchase agreements are traded.
4. No-load money market mutual funds that are regulated by the SEC, have a dollar-weighted average stated maturity of 90 days or fewer, are invested exclusively in obligations de-scribed by items 1–4 above, and include in their investment objectives the maintenance of a stable net asset value of $1 for each share. Investments in mutual funds shall be limited to the percentages authorized by Government Code 2256.014(c). Gov’t Code 2256.014
5. A public funds investment pool meeting the requirements of Government Code 2256.016. Gov’t Code 2256.016
The District currently invests in the following public funds in-vestment pools:
a. Lone Star Investment Pool (maximum dollar-weighted average maturity is 60 days);
b. TexPool (maximum dollar-weighted average maturity is 60 days); and
c. TexSTAR (maximum dollar-weighted average maturity is 60 days).
6. Guaranteed investment contracts that have a defined termina-tion date and are secured by obligations described by Gov-ernment Code 2256.09(a)(1), excluding those obligations de-scribed by Government Code 2256.09(b), in an amount at least equal to the amount of bond proceeds invested under the contract; such obligations must be pledged to the District and held in the District’s name with an approved third party. Gov’t Code 2256.015
The District shall take all prudent measures consistent with its in-vestment policy to liquidate an investment that does not have the minimum rating.
The District is not required to liquidate investments that were au-thorized investments mandated by the Board-adopted investment policy at the time of purchase.
Collateralization shall be required on two types of investments:
1. Certificates of deposit, and
2. Repurchase agreements.
EFFECT OF LOSS OF REQUIRED RATING
EXISTING INVESTMENTS
COLLATERAL
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 7 of 9 LDU 2012.01 CDA(LOCAL)-X
In order to anticipate market changes and provide a level of securi-ty for all funds, the collateralization level will be 110 percent of market value of principal and accrued interest.
The District chooses to limit collateral to those items that are listed as authorized investments above.
Collateral shall always be held by an independent third party with whom the District has a current custodial agreement. A clearly marked evidence of ownership (safekeeping receipt) must be sup-plied to the District and retained. The District shall grant the right of collateral substitution with prior notice and consent from the Dis-trict.
To reduce exposure to changes in interest rates that could ad-versely affect the value of investments, the District shall use final and weighted-average-maturity limits and diversification. The Dis-trict shall monitor interest rate risk using weighted average maturity and specific identification.
Market prices shall be monitored for all investments acquired with public funds as described by Government Code 2256.09(a)(1). Prices shall be acquired through the District’s investment software, which downloads software based on the investments’ CUSIP num-ber.
In accordance with Government Code 2256.005(b), the investment officer shall develop a procedure to monitor changes in investment ratings and to liquidate investments that do not maintain satisfacto-ry ratings.
All security transactions, including collateral for repurchase agree-ments, entered into by the District shall be conducted on a delivery-versus-payment (DVP) basis. Securities shall be held by a third-party custodian designated by the investment committee and evi-denced by safekeeping receipts.
The District shall diversify its investments by security type and insti-tution. The asset mix of the District’s portfolio is expressed in terms of maximum commitment so as to allow sufficient flexibility to take advantage of market considerations within the context of this policy. The asset mix requirements are as follows:
Money Market Accounts 10% (maximum)
Certificates of Deposit 50% (maximum)
U.S. Treasury Obligations 100% (maximum)
U.S. Government Securities 100% (maximum)
INTEREST RATE RISK
MARKET PRICING
MONITORING RATING CHANGES
SAFEKEEPING AND CUSTODY
DIVERSIFICATION
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 8 of 9 LDU 2012.01 CDA(LOCAL)-X
Repurchase Agreements 15% (maximum)
Public Funds Investment Pools 100% (maximum)
Guaranteed Investment Contracts 25% (maximum)
The District may elect to use a singular investment instrument, ei-ther a flexible repurchase agreement, as defined in Section 9.3, or a guaranteed investment contract, as defined in Section 9.7 for the face value of the notes plus any accrued but unpaid interest.
The District may elect to use a singular investment instrument, ei-ther a flexible repurchase agreement, as defined in Section 9.3, or a guaranteed investment contract, as defined in Section 9.7 for the bond proceeds plus any accrued interest received upon delivery of such proceeds.
To the extent possible, the District shall attempt to match its in-vestments with anticipated cash flow requirements. Unless matched to a specific cash flow, the District shall not directly invest in securities maturing more than 24 months from the date of pur-chase. However, securities with a maturity of greater than 12 months shall not exceed 20 percent of the total portfolio.
Bond proceeds may be invested in securities exceeding 12 months if the maturity of such investments is made to coincide as nearly as practicable with the expected use of the funds.
The investment portfolio, as well as compliance with this policy, shall be reviewed annually by the investment committee and the District’s external auditor in conjunction with the annual audit of the District’s financial statements. Gov’t Code 2256.005(m)
The investment portfolio shall be designed with the objective of ob-taining a rate of return through budgetary and economic cycles, commensurate with the investment risk constraints and cash flow needs.
The District’s investment strategy is a passive one, in that the ma-jority of securities shall be purchased and held to maturity. Addi-tionally, cash inflows and outflows shall be monitored daily. Given this strategy, the basis used by the investment officer to determine whether market yields are being achieved shall be the 90-day U.S. Treasury Bill and the average Fed Funds rate.
The assistant superintendent of finance and support services shall present to the Board a quarterly report, prepared by the investment officer, on the investment portfolio, including the cost of invest-ments and market value as of quarter-end currently held in the portfolio, a breakdown of the percentage of portfolio of each in-
MAXIMUM MATURITY
INTERNAL CONTROL
PERFORMANCE STANDARDS
MARKET YIELD (BENCHMARK)
REPORTING
Richardson ISD 057916 OTHER REVENUES CDA INVESTMENTS (LOCAL)
DATE ISSUED: 3/7/2012 ADOPTED: 9 of 9 LDU 2012.01 CDA(LOCAL)-X
strument, the average buy yield versus the established benchmark, as well as a report on the maturities of the portfolio and their per-centages of the portfolio.
On a quarterly basis, the investment officer shall prepare a report that includes a summary statement by fund with:
1. The beginning market value for the period, the ending market value for the period, and the fully accrued interest for the pe-riod.
2. The book value and market value of each separately invested asset at the end of the reporting period by the type of asset and fund type invested.
3. The maturity of each investment.
4. The compliance of the investment portfolio as it relates to this policy and the District’s investment strategy.
The District shall retain an independent auditor to formally review its investment reports at least annually; the auditor shall report the results of the review to the Board.
The District’s investment policy shall be adopted by resolution of the Board. The policy shall be reviewed annually and approved by the Board.
INVESTMENT POLICY ADOPTION
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RICHARDSON INDEPENDENT SCHOOL DISTRICT
Richardson, Texas 75081
GENERAL STIPULATIONS AND CONDITIONS OF PROPOSAL
PROFESSIONAL SERVICES
IF THERE ARE CONTRADICTIONS BETWEEN THE GENERAL STIPULATIONS AND
CONDITIONS OF BID/ PROPOSAL AND THE SPECIFICATIONS, WRITTEN OR VERBAL, THE
GENERAL STIPULATIONS AND CONDITIONS OF PROPOSAL SHALL CONTROL.
I. INVITATION TO SUBMIT STATEMENT OF QUALIFICATIONS:
A. Richardson Independent School District invites all interested and qualified firms to
submit proposals in accordance with directions available in the Purchasing
Department, 970 Security Row, Richardson, Texas, 75081.
B. For the purpose and clarity of this document only, the terms “RISD” or “District”
will herein mean the Richardson Independent School District and/or the Board of
Trustees of Richardson, Dallas County, Texas. As used herein, the term “Proposer”
means any reliable person, entity, broker, vendor, and/or contractor who wants to
submit a proposal in response to a Request for Statement of Qualifications (RFQ).
The term “Proposal” refers to all responses or proposals submitted hereunder.
C. The District will receive sealed Proposals until date and time indicated on the RFQ
cover. Proposals must be delivered to the Purchasing Department, 970 Security Row,
Richardson, Texas, 75081 where they will be opened.
II. PROPOSAL PREPARATION, SPECIFICATIONS SHEET, AND PROPOSAL
OPENING:
A. An authorized representative of the firm must sign all Proposals. It is the intent of this
RFQ that should a given Proposal be accepted, it will automatically become a part of a
binding contract.
B. At the time RISD opens the Proposals, the responsible Buyer, or his/her delegated
support staff member shall open and record all Proposals received. Sufficient time will be
allotted to analyze all Proposals received and the final recommendations shall be
prepared for District review and approval. The District will follow the review process
described in the RFQ.
III. BILLING AND PAYMENT/DISCOUNTING:
A. All invoices are to be submitted in duplicate and mailed in accordance with instructions
as shown on purchase order (unless otherwise noted).
All invoices shall be forwarded to:
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RICHARDSON INDEPENDENT SCHOOL DISTRICT
ATTENTION: ACCOUNTS PAYABLE DEPARTMENT
970 SECURITY ROW
RICHARDSON, TEXAS 75081
B. Invoices will be returned for correction unless they contain a detailed description of the
invoiced services that is sufficient to allow the District to ascertain the specific services
provided and the dates of those services provided. Any expenses that the District has agreed
to reimburse shall be itemized. RISD will not be responsible for normal overhead or
overtime costs unless the District has specifically agreed to such expenses in advance. The
original and one copy of the invoice shall be forwarded to the office listed above.
C. The standard terms for payment are Net 30 days from receipt of complete/correct invoice. All
discounts, including prompt payment, shall be included in any bid or proposal price(s)
submitted.
IV. COLLUSION:
All Proposers shall sign the appropriate certification as provided on the signature sheet. The
District may reject any Proposal that does not include the required certification.
V. COMPLIANCE WITH SPECIFICATIONS:
A. The Proposer shall abide and comply with the true intent of the specifications and not
take advantage of any unintentional error or omission.
B. The District reserves the right to reject any or all Proposals that comply with these
specifications, or to accept a higher Proposal price that complies, when, in the judgment
of the District, such Proposal offers additional value or function, which justifies the
difference in price.
VI. DEVIATIONS FROM SPECIFICATIONS:
All requested deviations from the specifications and requirements stated in the RFQ must be
specified in writing by the Proposer at the time the Proposal is submitted. The absence of a
written list of requested deviations or exceptions when the Proposal is submitted will hold the
firm strictly accountable to the District to the specification or requirement as written. The District
reserves the right to reject or modify any requested exception or deviation. Excessive exceptions
may result in disqualification of a Proposal.
VII. ERRORS IN PROPOSALS:
Proposers and their authorized representatives shall fully inform themselves as to the conditions,
requirements, and specifications before submitting a Proposal. Failure to do so will be at the firm’s risk.
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VIII. QUALITY OF PROFESSIONAL SERVICE:
RISD expects that each vendor will perform all contracted services in a good, thorough and
professional manner consistent with industry and professional standards for similar services.
IX. SIGNATURE TO BIDS:
Each Proposal must show the full business address and telephone number of the firm and be
signed by the person or persons legally authorized to sign contacts. All correspondence
concerning the Proposal and contract, including Notice of Award, and Purchase Order, will be
mailed or delivered to the address shown on the Proposal in the absence of written instructions
from the Proposer to the contrary. The vendor is responsible for notifying RISD in writing of any
change of company name, address, or contact person.
X. TAXES:
A. The District is exempt from the payment of the Texas Sales Tax. Exemption
Certificates for the Federal Excise Tax may be furnished upon request.
B. Prices quoted shall not include federal excise or state sales and use taxes.
C. The District’s Tax Identification Number is -75-6002311.
XI. DISPUTE RESOLUTION:
Any disputes arising out of Proposal or subsequent contract shall be resolved informally, where
possible, through conference with the District official responsible for the professional service area
in question. Any dispute that cannot be promptly resolved through informal conference shall be
presented to the District in writing pursuant to Board Policy (GF) Public Complaints. The
timelines set out in that policy shall be followed. A copy of the policy is available at
www.tasb.org/policy/pol/private/057916 or from the Director of Purchasing.
XII. GOVERNING LAW/VENUE:
Any contract resulting from the Proposal and all matters related thereto shall be construed
according to the laws of the State of Texas. Venue for any disputes between the parties shall lie
in Dallas County, Texas.
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SIGNATURE SHEET
My/our signature below confirms that I/we:
1. propose to provide professional services to the Richardson Independent School District,
as described in the accompanying proposal;
2. certify that this Proposal is made without any previous understanding, agreement, or
connection with any person, firm, or corporation making a Proposal for the same services
and is in all respects fair and without collusion or fraud; and
3. certify that this firm is an equal opportunity employer and that all employment decisions
are made without regard to the color, race, sex, national origin, religion, age, or disability
status of otherwise qualified individuals.
COMPANY NAME:
SIGNATURE:
By: __________________________________________
(Print Name)
Title: ________________________________________
DATE SIGNED: ________________________________________________________________
ADDRESS:
TELEPHONE:
FAX :
TERMS:
RETURN TO: RICHARDSON INDEPENDENT SCHOOL DISTRICT
970 SECURITY ROW
RICHARDSON, TX. 75081
Return completed sheet with proposal
2/13/2013
RICHARDSON INDEPENDENT SCHOOL DISTRICT
STATEMENT OF EQUAL OPPORTUNITY AND NON-DISCRIMINATION
The Richardson Independent School District is committed to fair and equal competition among all
vendors. It is the policy of the Richardson ISD to encourage participation in the competitive bid process
by all interested parties. The Richardson ISD does not discriminate against any otherwise qualified
vendor because of the vendor’s race, color, national origin, age, religion, sex, or disability.
2/13/2013
CERTIFICATION
REGARDING DEBARMENT, SUSPENSION, AND OTHER RESPONSIBILITY
MATTERS
I. DEBARMENT, SUSPENSION, INELIGIBILITY AND VOLUNTARY EXCLUSION
(a) In accordance with the provisions of Appendix A to 49 CFR (Code of Federal Regulations), Part 29, the
offeror certifies to the best of the offeror’s knowledge and belief, that it and its principals:
(1) are not presently debarred, suspended, proposed for debarment, declared ineligible, or
voluntarily excluded from covered transactions by any Federal, State or Local
Government department or agency;
(2) have not within a three (3) year period preceding this offer been convicted of or had a
civil judgment rendered against them for the commission of fraud or a criminal offense in
connection with obtaining, attempting to obtain, or performing a public (Federal, State, or
local) transaction or contract under a public transaction; violation of Federal or State
antitrust statutes, or commission of embezzlement, theft, forgery, bribery, falsification or
destruction of records, making false statements, or receiving stolen property;
(3) are not presently indicted for or otherwise criminally or civilly charged by a
governmental entity (Federal, State, or local with commission of any of the offenses
enumerated in (a)(2) above; and
(4) have not within a three (3) year period preceding this offer had one or more public
transactions (Federal, State, or local) terminated for cause or default.
(b) Where the offeror is unable to certify to any of the statements above, the offeror shall attach a full
explanation to this offer.
(c) For any subcontract at any tier expected to equal or exceed $25,000:
(1) In accordance with the provisions of Appendix B to 49 CFR, Part 29, the prospective
lower tier subcontractor certifies, by submission of this offer, that neither it nor its
principals is presently debarred, suspended, proposed for debarment, declared ineligible,
or voluntarily excluded from participation in this transaction by any Federal department
or agency.
(2) Where the prospective lower tier participant is unable to certify to the statement, above,
an explanation shall be attached to the offer.
(3) This certification (specified in paragraphs (c)(1) and (c) (2), above, shall be included in
all applicable subcontracts and a copy kept on file by the prime contractor. The prime
contractor shall be required to furnish copies of the certifications to the Authority upon
request.
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II. FELONY CONVICTION NOTIFICATION AND CRIMINAL BACKGROUND CHECK
(a) Offeror must give advance notice to the Owner if the person or an owner or operator of the business entity
has been convicted of a felony. The notice must include a general description of the conduct resulting in
the conviction of a felony. The District may terminate any Agreement or if the Owner determines that the
person or business entity failed to give notice as required by this paragraph or misrepresented the conduct
resulting in the conviction. This paragraph requiring advance notice does not apply to a publicly held
corporation.
(b) Offeror will obtain criminal history record information that relates to an employee, applicant for
employment, or agent of the Offeror if the employee, applicant, or agent has or will have continuing duties
related to the contracted services; and the duties are or will be performed on school property or at another
location where students are regularly present. The Offeror certifies to the Owner before beginning work
and at no less than an annual basis thereafter that criminal history record information has been obtained.
Offeror shall assume all expenses associated with the background checks, and shall immediately remove
any employee or agent who was convicted of a felony, or misdemeanor involving moral turpitude, as
defined by Texas law, from Owner property or other location where students are regularly present. District
shall be the final decider of what constitutes a “location where students are regularly present.” Offeror’s
violation of this section shall constitute a substantial failure.
(c) If the Offeror is the person or owner or operator of the business entity, that individual may not self-certify
regarding the criminal history record information and its review, and must submit original evidence
acceptable to the District with this Agreement showing compliance.
Signature below acknowledges compliance with Section I. DEBARMENT, SUSPENSION,
INELIGILITY AND VOLUNTARY EXCLUSION and Section II. FELONY CONVICTION
NOTIFICATION AND CRIMINAL BACKGROUND CHECK.
SIGNATURE OF OFFEROR: DATE: __________________
PRINTED/TYPED NAME OF OFFEROR:____________________________________
COMPANY NAME: ______________________________________ TEL#: ______________________
Complete and return with sealed bid or proposal.
RICHARDSON INDEPENDENT SCHOOL DISTRICT PURCHASING DEPARTMENT
Notice to Vendors: Conflict of Interest Questionnaire Required by Chapter 176 of
the Texas Local Government Code
Effective January 1, 2006, any person or entity who contracts or seeks to contract with RISD for
the sale or purchase of property, goods, or services (as well as agents of such persons) (hereafter
referred to as Vendors) are required to file a Conflict of Interest Questionnaire with the District.
Each covered person or entity who seeks to or who contracts with RISD is responsible for
complying with any applicable disclosure requirements. RISD will post the completed
questionnaires on its website.
The Conflict of Interest Questionnaire must be filed:
No later than the seventh business day after the date that the Vendor begins contract
discussions or negotiations with the government entity, or submits to the entity an
application, response to a request for proposal or bid, correspondence, or other writing
related to a potential agreement with the entity.
The Vendor also shall file an updated questionnaire not later than September 1 of each
year in which a covered transaction is pending, and the seventh business day after the
date of an event that would make a statement in the questionnaire incomplete or
inaccurate.
Note: A Vendor is not required to file an updated questionnaire if the person had filed an updated
statement on or after June 1, but before September 1 of the year.
Please sign and return the following Conflict of Interest Questionnaire from the Texas Ethics
Commission with your bid/proposal to the following address:
Richardson Independent School District
Attn: Purchasing Department
970 Security Row
Richardson, Texas 75081
The Local Government Officers of the Richardson Independent School District are:
Board of Trustees: Kim Quirk
Karen Ellis
Kim Caston
Lanet Greenhaw
Karen Holburn
Kris Oliver
Adam Meierhofer
Superintendent: Kay Waggoner, Ph.D.