Galvesto
n
722Moo
d
Galvesto
n
GALVE
S
n
CountyTre
a
d
yAvenue4
t
h
n
,TX77550
S
TONCOUN
T
a
surer,Kevin
Floor
T
YREQUEST
F
C.Walsh,CP
A
F
ORAPPLICA
A
TIONSFOR
D
D
EPOSITORY
A
A
NDSAFEKE
E
E
PINGSERVI
C
C
ES
County of Galveston
TABLE OF CONTENTS
Introduction
Notice to Interested Parties…………………………….……………
………………………………………..i
Request for Applications……………………………….…………………………………………………….ii
Application
General Information ………………...………………
……...……………………………………………...…2
Service Requirements (Form A)…………………………...……….……………..……………………….…5
Pricing (Form B)…………….……………………………...……………………..……………………….…9
Collateral and Safekeeping..………………………………………………………………………………...11
Acknowledgement of Collateral Requirements (Form C)..…….…….…………………………...13
Daily Bank Balances Analysis……………………………...……………………..……………………..…14
Fee Calculator Bid (Form D) ………..…………..………………………………………………………….15
Interest Calculator Bid (Form E) ..…………………………………………………………………...……..17
Bank Representative Authorization (Form F)…………………….………………..……………………….18
Proposal Signature Page (Form G)……………………...…………………….…………….…………...….19
Proposal Check Return Authorization Form (Form H)……………………………………………………..20
List of References (Form I)…………….………………………….……………………………….……….21
Checklist…………………….……………………………...……………………..………………………...22
COUNTY OF GALVESTON
722 Moody Avenue-4th Floor
Galveston, Texas 77550
(409)770 -5395
Notice to Interested Parties
Sealed Request for Proposals (RFP) will be received at the County Treasurer Department, 722 Moody
Avenue, 4th Floor, Galveston, Texas 77550 before 5:00 pm, Friday, June 7, 2019 to be opened at the
Galveston County Commissioners' Court on Monday, June 17, 2019 at 9:30 am for Application for
Depository Bank and Safekeeping Services for Funds of Galveston County.
Proposals must be in a sealed envelope and marked:
Proposal to be opened June 17, 2019
Depository Bank and Safekeeping Services for Funds of
Galveston County RFP Number 19-023
Any questions or additional information required by interested vendors must be emailed to:
galvestoncountytreasurer@co.galveston.tx.us before Tuesday, May 28, 2019 at 12:00 pm.
Any changes in the specifications w
ill be posted on the County website (www.galvestoncountytx.gov
) as an
addendum. It shall be the proposer’s responsibility to check the website prior to the bid opening
date to verify whether any addendums have been posted.
Award will be made based on a review
of qualifications, scope of services and price.
COMMISSIONERS' COURT RESERVES THE RIGHT TO REJECT ANY AND ALL
PROPOSALS AND WAIVE TECHNICALITIES. Only proposals that conform to specifications will
be considered.
KEVIN C. WALSH, CPA
Treasurer
CRYSTAL COOPER,CIO
Assistant Treasurer
i
Request for Applications for Main and Participating Bank Depositories
for the Deposit of Funds Belonging to
Galveston County and Other Governmental Entities
Galveston County is accepting proposals for depository bank services, to include depository, Automated
Clearing House (ACH), wire transfer, disbursements, lockbox, electronic banking, reporting, merchant
services, and investment custodial services.
Pursuant to the provisions of Texas Local Government Code 116.022 and 117.022, notice is hereby
given that the Galveston County Commissioners' Court is seeking applications for a Main and for
Participating Bank Depositories for the following funds:
All funds belonging to the
County of Galveston;
Trust funds and Court Registry Funds in possession of the County Clerk of Galveston
County;
Special Funds deposited in the County Treasury and utilized by its Community Supervision
and Corrections Department (Adult Probation); and
Acc
ounts, including overnight depositories, utilized by other elected and appointed Galveston
County officials.
Sealed applications in se
ts of one (1) original and three (3) copies, marked on the outside with:
Proposal to be opened June 17, 2019
Depository Bank and Safekeeping Services for Funds of
Galveston County RFP Number 19-023
will be received until close of business (5:00 pm) on June 7, 2019 at the Office of the County
Treasurer located at the Galveston County Courthouse, 722 Moody Avenue, 4
th
Floor, Galveston,
Texas 77550. All applications will be opened by the Commissioners' Court at its regularly scheduled
meeting held at 9:30 am on June 17, 2019 at the Galveston County Courthouse 722 Moody Avenue,
1st Floor, Galveston, Texas 77550, or as soon thereafter as may be determined necessary by the Court.
Applicants should be Stat
e and National Banks, preferably domiciled in Galveston County, Texas, which
have the ability to provide safekeeping depositories for all funds and accounts listed above in the form of
demand account banking.
Each Applicant
must utilize the County’s Official Proposal Form and specify the interest it will pay on
Demand Deposits and/or Time Deposits. Each Applicant must also provide through a contract with
another bank, if necessary, adequate facilities located in the County seat, which is Galveston, Texas, for
daily banking transactions. Participating Bank Applicants need only have a branch presence within the
County in order to be considered. Additionally, each Applicant who has a Demand Deposit Account with
the County will be required, upon request of the County Treasurer, to furnish daily statements, along
with front and back images of canceled checks guaranteeing each endorsement, which can be imported
individually into the County’s financial system.
ii
The Term of each Depository Contract will be for a period of four (4) years, beginning October 1, 2019
and expiring September 30, 2023. In addition, if necessary, each Depository Contract may be extended by
Galveston County up to an additional sixty (60) days to enable the County Treasurer to have ample time
to close out accounts and to transfer funds to successor County Depositories. Each Depository Contract
shall allow Galveston County to establish, on the basis of negotiations with the bank, new interest rates
and financial terms of the Depository Contract which will take effect during the final two years of the
four-year contract, including the option to alternate between fixed and variable interest rates. Any new
financial terms may not increase service cost to Galveston County by more than 10%.
Each Depository Co
ntract will require the bank to pledge, as collateral, securities acceptable to and
approved by the Commissioners’ Court
of
Galveston County which cumulatively have a market value
amount sufficient to equal 110% of all funds deposited with the bank by Galveston County, including its
County Clerk, its District Clerk, its Community Supervision and Corrections Department (Adult
Probation), and all other elected and appointed Galveston County officials. In addition, each bank must
maintain FDIC insurance and comply with the terms and provisions of Government Code Chapter 2256
(Public Funds Investment Act) and Chapter 2257 (Public Fund Collateral Act), as well as Local
Government Code Chapters 116 (Depositories for County Public Funds) and 117 (Depositories for
Certain Trust Funds and Court Registry Funds) as they relate to such securities. All such securities shall
be placed in a second bank or with the Federal Reserve Bank for safekeeping, providing the County of
Galveston with safekeeping receipts. Monthly reports on all collateral securities will be made to the
County Treasurer and shall include the par value and market value of each. Requests for substitution of
collateral securities may be made in writing to the County Treasurer’s Office. Such requests are
similarly subject to the approval of Commissioners’ Court.
In addition to executi
ng a County Depository Contract, each Applicant may be required to execute the
following Agreements with terms and conditions acceptable to Galveston County and any applicable
elected officials:
Custodial Agreement for County-Owned Securities;
Investment Clearing Agreement;
Custodial Agreement for Pledged Securities (Federal Reserve Bank); and/or
Lock Box Agreement.
Each Applicant must
state the amount of the bank’s paid-up capital stock and permanent surplus and the
application must be accompanied by:
A statement showing the financial condition of the bank on the date of the application;
A cert
ified check or cashier’s check for $1,263,579.00, one-half percent of the county's
revenue; and
A description of all banking services they are willing to provide and the charges for such
services, if any. Examples include but are not limited to the ordering of checks, deposit
slips, returned checks, remote capture services, positive pay service, etc.
Awards to successful Ap
plicants will be made by the Galveston County Commissioners’ Court at its
regularly scheduled meeting held on July 29, 2019, or as soon thereafter as may be determined necessary
by the Court.
The Galveston County
Commissioners’ Court shall have the right to accept the Application that it
determines offers the most favorable terms and conditions for the handling of all County funds. The
Galveston County Commissioners’ Court shall also have the right to reject in part or in whole any and all
Applications.
iii
Application for Depository Bank
and Safekeeping Services for
Funds
of Galveston County
RFP # 19-023
Opening Date:
Monday, June 17, 2019
General Information
The Galvesto
n
Count
y Co
mmissioners Court, in compliance with applicable Texas statutes, is herein
requesting applications from any banking corporation or financial institution to serve as a County
Depository Bank(s).
The specific references governing these services are:
Local Government Code Chapters 116-117 and Government Code Chapters 2256-2257
The text of these governing statutes may be obtained a
t: https://statutes.capitol.texas.gov/
By submitting a proposal, the bank acknowledges that it understands the aforem
entioned laws, which
pertain to the safekeeping of County funds and will comply with these statutes.
Pursuant to the Texas Local Government Code § 116.021 and Vernon’s Texas Codes Annotated,
Government Code, Title 10, Chapter 2257, sealed proposals will be received at the Galveston County
Treasurer Department on or before 5:00 pm on Friday, June 7, 2019 for the selection of bank
depositories for the forthcoming four (4) year period commencing on October 1, 2019. Applications may
be submitted by any “bank” as defined by the Texas Local Government Code § 116.001.
Applications may be submitted for depository, safekeeping, or both services.
There is no express or implied obligation for Galveston County to reimburse responding firms for any
expenses incurred in preparing their response to this proposal.
Any additional
information required by the interested applicants must be submitted in writing to the
attention of the County Treasurer Department before Tuesday, May 28, 2019 at 12:00 pm.
To be considered, original
sealed applications plus
three (3) ide
n
tical duplicates must be received by
5:00 pm on Friday, June 7, 2019 in the office of the County Treasurer Department. These proposals
will not be opened until the final submission date and hour noted.
All proposals must be delivered to:
Galveston County Treasurer Department
Attn: Kevin C Walsh, Treasurer
722 Moody Avenue—4
th
Floor
Galveston, Texas 77550
Proposal must be in a sealed envelope and marked:
Proposal to be opened June 17, 2019
Depository Bank and Safekeeping Services for Funds of
Galveston County RFP Number 19-023
2
Good Faith Guarantee
This application for Depository Bank and Safekeeping for Funds of Galveston County must be
accompanied by a certified check or cashier’s check made payable to Galveston County in the amount
of $1,263,579.00, one-half percent
of the County’s revenue for the preceding year. The check is a
guarantee of good faith on the part of the bank that if the application submitted is selected as a County
Depository, the successful Applicant will, within fifteen (15) days after notice of selection, enter into a
pledge contract with the Commissioners' Court. If accepted, the successful Applicant will file bonds
of securities in s
ufficient amount to secure the public monies to be entrusted to them within fifteen (15)
days of selection as prescribed by the Texas Local Government Code §116.051
and Vernon’s Texas
Codes annotated, Government Code, Title 10 Chapter 2257. Should the bank fail to qualify as
Depository as required and within the fifteen (15) days specified, the certified check or cashier’s check
shall go to Galveston County as liquidated damages in accordance with the Texas Local Government
Code § 116.023 (c) and Vernon’s Texas Codes Annotated, Government Code, Title 10, Chapter 2257.
Applications not accompanied by a certified check or a cashier’s check will not be considered.
When the Depository has been selected, the certified check(s) or cashier’s check(s) presented with
the proposal application(s) shall be returned to the unsuccessful Applicants immediately. Certified
checks or cashier’s checks presented
by successful Applicants shall be held until the pledge contract
and required securities have been tendered and approved by the Commissioners' Court.
Applications submitted will be evaluated by a committee as designated by the Commissioners'
Court. This committee’s recommendation will be forwarded to the Galveston County
Commissioners' Court who will select the financial institution.
During the evaluation process, Galveston County reserves the right to request additional information
or clarification from Applicants, or to allow for corrections of errors or omissions. At the discretion
of Galveston County, financial institutions submitting applications may be requested to make
oral presentations as part of the evaluation process.
Galveston County reserves the right to select the acceptable Applicant who offers contractual terms
and
conditions most favorable to the County. The County may reject Applicants whose management
or financial condition, in the opinion of Commissioners' Court, does not warrant the placing of County
funds in their possession. Galveston County reserves the right to reject in part or in whole any or all
proposals, waive minor technicalities, and award the proposal that best serves the interest of Galveston
County. Late proposals will be returned to the proposer unopened.
Proposals ma
y be withdrawn any time before the official opening. Alterations made before opening
time must be initialed by proposer to authenticate.
Terms of Bid
The County shall contract with a bank for a two-year or four-year contract term. This depository contract
must commence no
later than October 1, 2019 and must continue until sixty (60) days after the time
fixed by statute for the next selection of a Depository Bank. On expiration of the primary term, the
contract may be renewed for two (2) additional years under the terms negotiated. If the contract is for a
four-year term, the contract shall allow the County to establish, on the basis of negotiations with the
bank, new interest rates and financial terms of the contract that will take effect during the final two (2)
years of the four-year contract.
3
If a time
d deposit extends beyond the expiration date of the contract, the managing bank will pledge
sufficient securities required by Galveston County to provide for the maturity of the time deposit.
Selection Criteria
The depository bank proposal review committee considers the following criteria points. The
committee then makes a recommendation to Commissioners' Court and the Court makes the ultimate
decision. Selection criteria points are as follows:
Proposal Scoring Percentage
Best value in terms of service and cost……………………………………………………….
25%
Net rate of return on County funds…………………………………………………………...
20%
Bank’s past and prospective financial strength………………………………………………
15%
Cash Management bank services offered…………………………………………………….
15%
Experience and ability to meet service requirements………………………………………...
10%
Convenience (e.g. locations)………………………………………………………………….
10%
Any additional bank services offered………………………………………………………...
5%
TOTAL 100%
All bids
submitted in hard copy paper form shall be submitted in a
sealed envelope, plainly
marked on the outside with:
Proposal to be opened June 17, 2019
Depository Bank and Safekeeping Services for Funds of
Galveston County RFP Number 19-023
A hard copy paper form submittal shall be manually signed in ink by a person having the
authority to bind the
firm in a contract. Submittals shall be mailed or hand-delivered to the
Galveston County Treasurer Department.
4
Service Requirements
Indicate ‘Y’ confirming service is offered or ‘N’ if service is not offered.
Attach additional documentation as needed to provide more detail.
1. Standard Disbursement Services - Standard disbursing services for all accounts are
required to include the payment of all County checks upon presentation. No funds
or fees may be withdrawn from the County Depository except by properly
drawn warrants which have been approved and signed by appropriate
authorities as designated on signature cards. All signature cards must be made
available to the County Treasurer.
2. Standard Deposi
t Services - The bank will guarantee immediate credit on all
wire transfers, ACH transactions and all deposited checks based on the bank’s
availability schedule. All deposits received before the banks deadline will be
credited daily.
3.
Statements - Monthly account statements delivered in electronic file format, as
well as paper. Monthly account statements will be provided with all original
canceled checks, debit and credit memos, etc. and downloadable images of
the front and back of the
se items, as well as monthly and year-to-date interest
earned. Images should be retained in accordance with the rules adopted by
the Texas State Library and Archives Commission. This statement shall
show the number of checks, deposit and deposit items posted, daily ledger
balances, average daily ledger balance for the month, average daily collected
balance for the month and other items on which charges are based. Such
statements shall be provided within seven (7) working days after calendar
month-end. Please attach a sample bank statement.
4. Automatic Over
night Acc
ount - All funds remaining in designated accounts
may be swept and automatically deposited by the bank on an overnight or
weekend basis into a better investment vehicle. The bank will credit the total
interest earned to each account based on each account’s investable balance. Funds
must be deposited in avenues that are authorized by the Public Funds Investment
Act. The bank must send the County a confirmation detailing the interest rate
and monthly statements detailing daily activity.
5. Collateral Repo
rts - A detailed monthly collateral-to-deposit report is required.
The report shall contain security descriptions, par value/current face and current
market value. Please attach a sample of a monthly collateral report.
6.
On-line Communication - It is
requested that as part of the bid the Depository
Bank will provide an on-line communication link to the County for daily reporting
of account balances, collateral and ledger balances, and detailed debits and
credits. The bank must also be prepared to provide the Treasurer’s Office
with the opportunity to physically work with this technology before the RFP
5
Form A
is selected. Discuss the methods (e.g., Web-based, proprietary software) by
which Galveston County can view current day activity, previous day activity and
balance information, and specify any associated costs.
a. Can information be accessed by multiple users?
b. Can information be accessed by multiple locations?
c. Can individual users be restricted to accessing information only on
certain accounts or transaction types?
d. Can information be imported into a spreadsheet?
e. Are pending transactions included in the Available Balance?
7.
Fees and Service Charges - Fees and service
charges for monthly service must be
included in a monthly analysis format. A monthly detailed billing for every
service charge and fee for all individual County bank accounts which
includes type of service, volume, individual price, and total price will be
provided. A sample client account analysis report must be provided as part of
the RFP.
8. Payment for
Services The County desires that there be no service charge if the
earnings credit exceeds the total service charges for the billing cycle, which
should occur on a quarterly basis.
9.
Positive Pay Service - Positive pay service is required. Describe in detail your
posit
ive pay service. Does the bank offer payee match as part of its positive pay
service? How often can positive pay files be sent and uploaded? Specify any
associated cost.
10. Wire Transfer C
apability - Wire transfer capability using computer service
with dual control security features (primary and secondary authorization).
11. ACH Operations - P
rovide ACH operations to allow the County to initiate
electronic paperless entries through your financial institution and other financial
institutions by means of ACH files (e.g. payroll direct deposit ACH file). A daily
remittance report should be sent to the County for all incoming and outgoing
ACHs, EFTs, and Wire Transfers.
12.
Stop Payments - The C
ounty will require the bank to issue stop payments executed
from personal computers or fax by County personnel at County locations. Stop
payments will be considered permanent voids and the County does not need to
renew stop payments. The Depository Bank’s electronic system must allow for
County personnel to search, delete, and adjust items as needed.
13. Checks, Deposit Slips, Endorsement Stamps, and Other Supplies - The bank will
order supplies for the County as specified by the County. Any applicable
charges should be directly invoiced to the County Treasurer, not paid by direct
debit.
6
14. Account Executive Service Person - The bank will provide Galveston County with
an Account Executive Service person located in Galveston County whose
responsibility must be to serve as primary liaison between the bank and Galveston
County. This person will be responsible for attending to inquiries, requests for
services, researching historical data, and other daily activities regarding the
managing of Galveston County Accounts.
15.
Reconciliation - The bank agr
ees to reconcile any differences in account
balances within a period of time mutually agreeable to both Galveston
County and the bank following notification of such discrepancies. Differences
in account balances include any difference between checks paid in comparison
to positive pay amounts transmitted to the bank, and differences between
deposits made (declared) as compared to deposits verified by the vault.
16.
Waiver of Certificates of Deposit Penalty The County and
District Clerks
maintain trust accounts for minors. These funds are invested in Certificates of
Deposits to earn interest for the minor’s benefit. Occasionally these accounts are
closed by court order prior to the maturity date of the CD. The bank must waive
the early withdrawal penalty if a minor’s trust account is closed by court order
prior to the CD’s maturity.
17.
Deposits The bank must accept mixed deposits containing cash, checks,
and
coin from the County. Deposits may be made primarily through the vault
(armored car); branch teller walk-up is minimal.
18.
Remote Capture – The bank must provide remote capture services and equipment
t
o multiple users at multiple locations in the County. The County would prefer to
use Remote Capture in conjunction with Check 21 services, whether directly
through the bank or with a contracted third party through the Depository Bank.
Remote Capture services must include detailed image reporting available for
download into the County’s internal system, as well as historical search
capabilities for deposit totals and individual items dating back no less than one
year.
19.
1099’s for Trust Beneficiaries - For County
Clerk and District Clerk trust funds,
the bank must provide the County with individual accounts that are in the name of
the beneficiary and record the interest earned on these accounts as a credit to the
social security number or employer identification number of the beneficiary. The
bank must send monthly account activity statements and Internal Revenue
Service Form 1099s to the appropriate Clerk for each account maintained. Online
information reporting for these accounts should be made available.
20.
Deposits at Branch Locations – The bank must
allow designated County
personnel to make deposits at any branch location.
21. Overdrafts - All demand deposit overdrafts incurred in the normal course of
business will be covered at no cost to the County as long as sufficient compensating
balances exist in other County accounts.
22.
Notice of Returned Checks – The Depository Bank must provide County
personnel with immediate online notice of any returned checks, as well as via
regular p
ostal mail. The notices must include an image of the check, the reason
for the return, and the total of the original deposit.
7
23.
Stored Value Cards – The County shall hav
e the ability to issue payroll to its
employees in the form of stored value cards, as well as other payment
applications. The Depository Bank will not charge the County any fees for the
use and maintenance of these cards.
24. ATM Services
If the bank is interested in exploring the possibility of offering
ATM services in conjunction with the County, please provide a product and cost
information breakdown. THIS IS FOR INFORMATIONAL PURPOSES
ONLY, AND WILL NOT BE INCLUDED IN THE BANK DEPOSITORY
RFP. Please provide an additional sheet containing this information.
25. Armored Car Depository ServicePlease include a service and charge breakdown
for services related to picking up and dropping off funds from various County
locations. Include a sample invoice for these services, or indicate where on the
monthly analysis this charge is located.
26. Lockbox Servi
ces – Does the bank provide directly, or via contract with a third-
party, lockbox services? Please provide figures for how many pieces of mail can
be processed per day, staffing of the facilities, and equipment used in the
facilities, along with a description of the location of the lockbox facility.
27.
Virtual Services – Can the bank provide a locking safe for virtual vault/safe
services, wherein funds are deposited into a safe located at a County office,
credited to the County’s bank account, and then retrieved at a predetermined
time by an armored
car depository service?
28. Safekeeping Account - In the event that the County exercises its right to make
external investments, the depository institution must provide a safekeeping
account to hold securities purchased by the County. If the Depository Bank
cannot provide investment safekeeping services, then the County will also have to
select a second depository for those safekeeping services. Excess funds are invested
in accordance with the County’s investment policy and the Public Funds
Investment Act. All investments are on “delivery versus payment” where the
safekeeping entity verifies the incoming security to the purchase instructions
provided by the County. If the security matches the purchase instructions, the
safekeeping entity releases the funds to purchase the security. If the safekeeping
entity is not the County’s main depository bank, then funds would need to be
transferred into the safekeeping account the day before the security delivery date.
Any cash funds in the safekeeping account would either have to be collateralized at
110% per the County’s depository collateral requirements, or swept into an interest-
earning money market account. The safekeeping entity will provide transaction
notices for any interest payments received on investments, investments
maturing, sold or purchased, and monthly safekeeping account statements. The
report shall contain security descriptions, par value/current face and current market
value as well as any interest earned on funds in the account.
**Refer to the COLLATERAL & SAFEKEEPING section for more details**
29. Please a
ttach a copy of your Disaster and Emergency Preparedness Plan.
8
Pricing
Please quote prices and discounts on the following items:
1. Comprehensive List of Service Prices The bank must provide a comprehensive list of service prices as
well as any other costs that will be charged to the County for any reason. Specify any and all costs
associated with electronic transfers, including transfers between Galveston County accounts. This list
will be considered all-inclusive and the prices shown on the list must be incorporated into the contract.
If a four (4) year contract is executed, the bank has the option to change prices for the second two
(2) year term. The price change will be negotiated, but may not exceed 110% of the prices shown for
the first two (2) year term.
2. What is the cut-off ti
me to ensure a same-day ledger credit?
3. Provide an a
vailability schedule.
4. Does the bank outsource any of the proposed services?
5. What are the ba
nk’s cut-off times for customer-initiated Electronic Transfers (Wires, ACHs, Account
Transfers, etc)?
6.
Comprehensive Cash Management Capabilities The bank must provide comprehensive cash
management pro
grams and associated costs (e.g., electronic check presentment, check conversion, stored
value cards, etc).
7. Does the bank offe
r any service to protect Galveston County’s accounts from unauthorized ACH
debits?
9
Form B
Attach documentation
Attach documentation
9. Describe how the financial institution plans to keep this product current and competitive.
10. Does the ban
k conduct background checks on its employees?
11. How many ba
nk employees are present when deposit bags are opened?
12. Describe
security at the cash vault center. What additional security measures are employed?
13. Does the ban
k identify and adjust all discrepancies?
14. When deposit discrepancies are discovered, what are the bank’s notification, reporting, and adjustment
procedures?
15. Require
d Form (See Form D) - On the attached form titled FEE CALCULATOR BID, indicate the
charges per unit for each service, the estimated charges for each service, and the estimated compensating
balance which the County would be required to maintain in order to offset the service charges. Specify
when there is no charge for a service or when there are additional charges for a service. List any fee or
service charges that you foresee, even if not listed in the FEE CALCULATOR BID.
The number of units on the form represents Galveston County’s bank services activity for fiscal year
2018.
16. Required
Form (See Form E) - On the attached form titled INTEREST CALCULATOR BID, calculate
the interest Galveston County would have earned last fiscal year using your proposed rate of return
historical data. Galveston County is requesting for bank applicants to define specifically the method used
by the applicant for interest calculations in its normal operations. The bank must furnish adequate
information about the index and or instruments used to arrive to the proposed rate (e.g. 90 days T-Bill
rate, Texpool rate). Galveston County must be able to independently calculate the proposed rate and
interest payable under the contract. Also, specify which bank balances are subject to interest (e.g.
Average Collected Balances).
Because a f
our (4) year contract may be executed, the bank must propose new fixed and variable rates of
interest for interest-earning transaction accounts, certificates of deposit, NOW accounts, money market
checking accounts, and the overnight investment facility for the second two years of the contract. During
the second two (2) years of a four (4) year contract, Galveston County has the option to adopt the bank’s
proposed rates for the last two years or to establish, on the basis of negotiations with the bank, new
interest rates and financial terms of the contract that will take effect during the final two years of the four-
year contract.
10
Collateral and Safekeeping
Legal Collateral Requirement Specifications
Allowable securities for collateralization only include:
U.S. Treasury Notes
U.S. Treasury Bills
Government National Mortgage Association Certificates
Federal Farm Credit Banks Notes and Bonds
Federal National Mortgage Association Notes and Bonds
Federal Home Loan Mortgage Association Notes and Bonds
Required Level of Collateral
The initial amount of securities to be pledged against Galveston County shall be adequate to fully
collateralize the funds of Galveston County according to the State laws of Texas. The amount is subject
to change as deposits fluctuate. At all times, the market value of collateral including accrued interest
must be equal to or greater than 110% of the sum of the par value of the certificates of deposit
plus accrued interest, the daily bank ledger balances, and the overnight investment facility balances,
less funds insured by Federal Deposit Insurance Corporation.
Monitoring of Collateral
Bank is responsible for notifying the County of any deficiencies in th
e Bank’s pledged collateral on a
daily basis, as well as obtaining additional collateral to cover the deficiency. Reduction and or release of
Collateral must be approved and signed by the County Treasurer.
Location of Collateral
Bank must deposit all collateral pledged to secure County funds at the Federal Reserve Bank
in Dallas or
with a mutually agreed upon third party with a notation that the securities are pledged to the County.
Depository safekeeping receipts should be furnished to the County Treasurer verifying the pledged
securities. Securities pledged to the County shall be placed in safekeeping by the Depository Bank
providing safekeeping services and the original of the safekeeping receipt shall be given to the
County Treasurer. Collateral security will be pledged only: “To the County of Galveston, Galveston
County, Texas”. Release of collateral must be approved and signed by the County Treasurer.
In the event that the County’s Depository Bank provides both depository and safekeeping services there
will only be a single collateral pledge for all County funds.
11
Attach documentation providing the following:
1. A copy of the proposed Safekeeping Agreement for the safekeeping account.
2. Using the following example scenario, please provide a complete detailed monthly
invoice for Safekeeping Services for December 2018:
Security Purchased Maturity Par Amount
Purchased
Through
FHLB 01/15/2017 01/15/2017 $2MM Entity
T-BILL 12/05/2017 12/05/2018 $2MM Outside Party
T-BILL 05/08/2017 12/08/2018 $2MM Entity
FHLB 05/12/2017 12/12/2018 $2MM Outside Party
FHLB Callable 02/15/2017 02/15/2018 $2MM Outside Party
CALLED 12/15/2017
$2MM Outside Party
T-BILL 12/20/2017 12/20/2018 $2MM Entity
FHLB 12/22/2017 12/22/2018 $2MM Entity
3. Cut-Off Times – Deadlines to accept instructions.
4. Provide any applicable SEC and NASDAQ reports on your firm.
5. Disclose licensing agency registrations.
6. If the safekeeping account is provided by a third party, the following additional
information is required:
a. Resolution from the board of directors of the third party financial institution
giving the signing officer authorization to enter into agreements.
b. Audited financial statements of the third party for the most recent year.
Galveston County will require a copy of the financial report at least annually,
upon publication.
c. Current Credit Rating by: Moody’s, S&P, and Fitch.
7.
The following page with acknowledgements of the County’s collateral and safekeeping
requirements.
12
Check each box to acknowledge the following requirements:
1. The financial institution shall segregate and identify on its books and
records all securities delivered by or for the account of Galveston
County which are held by the financial institution as belonging to
Galveston County.
2.
Monthly account statements delivered in electronic file format, as well
as paper statements. The statements shall include the following
information on each security: CUSIP number, par value, cost value,
book value, and market value.
3. The financial institution shall rely and act only upon written
instructions signed by two (2) authorized persons from Galveston
County. Galveston County will provide the financial institution with a
sample of authorized signatures. If the financial institution has in place a
system for providing telecommunication or other electronic access or
other means of direct access, Galveston County will use such system for
inquiries only.
4. The financial institution shall provide Galveston County with monthly
detailed invoices for every single service charge.
Form C
13
Account Name
Average Daily
Balance
Highest Daily
Balance in FY18
Highest Cumulative Daily Balance
in FY18--01/30/2018
01 Road Bonds - 3308 137,436.93 137,625.76 137,033.16
03 Unltd Tax Rd Bond - 3307 1,903,253.86 1,907,285.19 1,897,609.09
07 Ltd Tax Bond - 3310 3,716,148.49 3,724,019.78 3,705,126.94
2008 COB Series - 3373 311,260.78 311,920.07 310,337.63
Accounts Payable 2,311,051.38 7,042,594.67 600,621.00
Boon Chapman Health 3,479.14 360,788.92 -
County Clerk Printech 14,830.85 20,091.33 14,592.01
Demand Account 5,249,998.26 47,378,885.44 39,733,987.34
District Clerk Printech 9,798.67 14,725.68 8,967.49
General Money Market 37,773,914.95 198,847,907.29 183,667,817.98
Indigent Healthcare - 2.45 -
Investment Account 17,040,891.34 25,102,890.02 -
JP Credit Cards 504,300.38 849,590.66 294,510.40
Jury Warrant 50,121.55 72,958.64 38,228.00
LIRAP 16,771.21 16,804.49 16,722.88
Ltd Cnty Bldg 09B-3120 62,327.30 62,450.98 62,147.67
Ltd Tax Flood Control Bond 09C-3370 528,216.03 529,334.86 526,649.41
Non-Interest 581,103.73 913,747.81 913,747.81
Payroll 1,006,198.84 4,210,065.59 649,651.21
Restitution 51,569.07 95,686.65 35,291.47
Retiree 176,777.17 349,587.16 116,053.55
Unclaimed Property 230,361.51 236,443.86 230,623.58
Unltd Road Bond 09A-3312 2,504,316.99 3,515,248.20 3,510,666.53
Worker's Comp 4,046.94 17,545.13 140.14
County Clerk Credit Card 518,215.02 883,241.18 798,157.46
County Clerk Odyssey NOW 9,620,262.76
12,781,525.38
11,186,776.23
County Clerk Odyssey Reg
istry 1,579,908.37 6,709,582.29 1,799,573.13
District Clerk Credit Card 1,612,115.67 2,650,680.82 1,649,376.31
District Clerk Child Support 4,420.53 11,080.60 7,382.65
District Clerk Civil 2,688,200.02 3,696,588.44 2,926,443.21
District Clerk Registry 713,554.66 912,194.59 495,171.27
Sheriff Inmate Prosperity ACH 27,299.02 140,878.79 22,860.25
Sheriff Inmate Property Account 189,435.78 292,885.76 104,447.56
Sheriff Reserve Account 21,124.44 25,404.69 21,104.99
Sheriff Bond Account 22,233.92 83,967.48 15,852.58
Sheriff Sales Account 190,248.33 519,865.39 232,248.50
Sheriff Commissary 1,384,818.70 1,519,743.41 1,306,219.61
Property Tax 13,532,934.92 90,618,812.70 70,507,544.28
Prosperity-Texas Parks And Wildlife 51,759.07 152,596.14 21,387.92
Tax Assessor/Collector- IVRR 189,306.30 329,196.25 246,481.66
Tax Assessor/Collector-Beer & Wine 76,972.57 116,106.93 83,773.43
Tax Assessor/Collector-Highway 2,427,126.86 5,129,915.85 1,320,037.96
Tax Assessor/Collector-Sales 197,586.44 874,924.96 239,378.34
Tax Assessor/Collector-VIT 1,294,545.48 2,385,687.63 2,204,700.05
Tax Assessor/Collector-Voter Acct 4,327.68 10,607.16 7,439.32
Tax Office Web Dealer 182,295.45 702,693.87 98,338.17
110,716,867.36 Highest Total Balance: 331,765,220.17
Tax Office
Total Average Daily Balance:
Galveston
County
Galveston County
Daily Bank Balances Analysis for Fiscal Year 2018
(October 1, 2017-September 30, 2018)
County
Clerk
District
Clerk
Sheriff's
Office
14
GALVESTON COUNTY
FEE CALCULATOR BID
Bank Services Activity
Fiscal Year 2018 (October 2017-September 2018)
Fee Number of Units Cost Per Unit Total Cost
Checking Activity:
Overdraft
Debits Posted
Credits Posted
Return Items
Non-sufficient Funds
Re-clears
Stop Payments
Item Encoding
On-Us Items
Transit Items
Checking Account Maintenance
Electronic Credit Posted
Electronic Debit Posted
Wire Transfers
Disbursement Services:
Positive Pay Monthly File Maint.
Positive Pay Issued
Positive Pay Paid
Positive Pay Void
Positive Pay Exceptions
Positive Pay No Issue
Image - CD Rom Statement
Image Safekeeping per Item
Lobby Services:
Branch Strap Processed
Branch Coin Processed
In-House Wires
Check Re-ordering
Merchant Services:
Credit Cards—Deposits
Credit Card Services—Terminals
Remote Capture Scanners & Maint.
Transcode File Transactions
Vault Services:
Check Only Deposits
Deposit Adjustments/Corrections
Locked Bank Bag Fee
Misc. Charge-Chks/Deposits
Form D
15
0
0.00
75,500
0.00
20,200
0.00
300
0.00
0
0.00
10
0.00
1,320
0.00
200,000
0.00
5,575
0.00
196,150
0.00
450
0.00
18,000
0.00
3,200
0.00
175
0.00
130
0.00
41,220
0.00
33,000
0.00
150
0.00
250
0.00
190
0.00
6,000
0.00
95,000
0.00
150
0.00
150
0.00
5
0.00
10
0.00
85
0.00
15
0.00
10
0.00
2,675
0.00
75
0.00
30
0.00
50
0.00
25
0.00
ACH Services:
File Transmission
Single ACH Transmission
Credits/Debits
Debits Originated
Receiving Addenda
Correction
Information Reporting:
ACH Addenda Report
Cash Management Reports
Total Cost:
In submitting this worksheet, the bank acknowledges that it understands and will comply with Texas Local
Government Code Chapters 116 and 117, pertaining to the managing and safekeeping of County funds.
16
230
0.00
50
0.00
85,000
0.00
20
0.00
18,000
0.00
20
0.00
365
0.00
365
0.00
0.00
Galveston County
Interest Calculator
Interest based on the average balance for FY 2018
Average Balance for Fiscal Year 2018: $128,113,443.17
Month APY APR Interest
Oct 2017
Nov 2017
Dec 2017
Jan 2018
Feb 2018
Mar 2018
Apr 2018
May 2018
Jun 2018
Jul 2018
Aug 2018
Sep 2018
Total
Please provide the interest that Galveston County would have earned last fiscal year
using your proposed rate of return. Please furnish adequate information about
the index and/or instrume
nts used to arrive at the proposed rate.
APY- Annual Percentage Yield is a normalized representation of an interest rate, based on a
compounding period of one year.
APR - Annual Percentage Rate is the interest for an entire year expressed as a single percentage and
does not account for compounding.
Form E
17
0.00
Bank Representative Authorization Form
RFP #19-023
I am an officer, president, or individual
(Full Name)
authorized to bind the company, known as :
_.
(Company name)
By reading and signing this document, I confirm that I have been read the bid in its entirety, and I
agree on behalf of the company to all terms and conditions outlined in the proposal.
Name__________________________________________________________________________
Title____________________________________________________________________________
Company Name__________________________________________________________________
Mailing Address_________________________________________________________________
City, State, Zip Code______________________________________________________________
Signature________________________________________________________________________
Date____________________________________________________________________________
18
Form F
Print and sign in ink
Proposal Signature
RFP #19-023
Application for Depository Bank and Safekeeping Services
For Funds of Galveston County
Vendor must meet or exceed specifications
Please do not include tax, as the County is tax-exempt. We will sign tax exemption certificates covering
those items. Please submit one (1) original and three (3) copies of the complete proposal.
I or we agree to furnish the following described equipment, supplies, or services for the
prices shown in accordance with specifications listed below or attached.
By execution of this proposal, I hereby represent and warrant to Galveston County that
I have read and understood the Proposal Documents and the Contract Documents and
this proposal is made in accordance with the Proposal Documents.
Company Mailing Address
Federal Tax Identification No. City, State, Zip Code
Company Website
Representative Name & Title Telephone Number including area code
Signature Fax Number including area code
Date Email Address
19
Form G
Print and sign in ink
Proposal Check Return Authorization Form
All bids must be accompanied by a certified check or cashier’s check, and this form. All bid checks must
be made payable to Galveston County, not to an individual.
Bid checks will be retained by the Galveston County Treasurer’s Office until the award and approval of a
contract. Galveston County is hereby granted authorization to return, without liability of any kind, the bid
check of any unsuccessful bidders via regular postal mail to the address listed below:
Bid for: _RFP #19-023
Application for Depository Bank and Safekeeping Services for Funds of Galveston County_
Certified / Cashier’s Check #: ____________
________ Bank:______________________________________
Business Address:______________________________________________________________________________
Drawn on:__________________________________ Dated:_____________________________________
In the amount of: $______________________________________________________________________________
To be returned to:
Contact Name:_________________________________________________________________________________
Mailing Address:_______________________________________________________________________________
City, State, Zip:________________________________________________________________________________
Telephone:_______________________________ Email:_____________________________________
Form H
20
References
Reference #1
Organization Name:
Contact Email:
Contact Name:
Contact Tel. No.:
Address:
Services Provided:
Reference #2
Organization Name:
Contact Email:
Contact Name:
Contact Tel. No.:
Address:
Services Provided:
Reference #3
Organization Name:
Contact Email:
Contact Name:
Contact Tel. No.:
Address:
Services Provided:
Form I
21
COUNTY OF
Bidder’s Check List
RFP # 19-023
Application for Depository Bank and Safekeeping
Services for Funds of Galveston County
THIS CHECKLIST IS PROVIDED FOR YOUR
CONVENIENCE
Responses should be delivered to the County Treasurer Department
by 5:00 pm, Friday, June 7, 2019.
Did you Visit our website (www.galvestoncountytx.gov) for any addendums?
Did you provide one (1) origin
al and three (3) duplicates?
Have you included a certified check or cashier’s check, along with the completed Bid Check Return Form?
Have you included a current financial statement for the bank?
Are all fields and forms in the RFP filled out?
Have you attached the following forms:
Service Requirements
Pricing
Collateral and Safekeeping Requirements Documentation
Fee Calculator Bid
Interest Calculator Bid
Bank Representative Authorization
Proposal Signature Page
List of References
Have you included a list of any and all service or charges not specified in the RFP?
Did you attach a sample of the monthly collateral report?
Did you attach a sample of the analysis invoice?
Did you attach a sample bank statement with check images?
22