REQUEST FOR PROPOSAL 05-R016 Banking Services by wangnianwu


       Banking Services

PROPOSAL DUE: Monday, January 10, 2004
                                   CITY OF CORONA
                             REQUEST FOR PROPOSAL 05-R016
                                  BANKING SERVICES

                                         TABLE OF CONTENTS

I. INTRODUCTION ........................................................................................ 1

II. CURRENT CITY BANKING SERVICES .................................................... 1

III. RESPONSE GUIDELINES ....................................................................... 3

IV. PROPOSAL EVALUATION CRITERIA ..................................................... 5

     Minimum Qualifications ............................................................................. 5
     Award of Proposal..................................................................................... 5
     Award Evaluation Criteria ......................................................................... 5
     Award Selection Process .......................................................................... 6
     Example of Weighted Evaluation .............................................................. 7

V. PROPOSAL FORMAT AND CONTENT ................................................... 8

     Tab A – Letter of Transmittal .................................................................... 8
     Tab B – Bank Profile ................................................................................. 8
     Tab C – Conversion Plan .......................................................................... 9
     Tab D – Services ...................................................................................... 9
     Tab E – Price Sheet ................................................................................ 19
     Tab F – Required Exhibits ...................................................................... 19
     Tab G – Required Signatures ................................................................. 20

Attachment A – Price Sheet .......................................................................... 21

Attachment B – Professional Services Agreement
                                                                    CITY OF CORONA
                                                                RFP – Banking Services

      The City of Corona was incorporated in 1896 under the general laws of the State
      of California. The City is a General Law City operating with a City Council/City
      Manager form of government. The City Council meets the first and third
      Wednesday of each month at 7:00 p.m. at the Civic Center. The California
      Government Code authorizes the City Council to delegate the responsibilities for
      making and receiving disbursements and receipts, and for investment of surplus
      funds, to the City Treasurer. The Finance Director serves as the Deputy City

      The City of Corona seeks proposals from banks with a full service branch located
      within the city limits.    The City encourages banks to submit the most
      comprehensive proposal possible, offering the highest quality of service and
      enhancements to improve the current management of cash flow. The City is also
      interested in various technological advances and pilots that could improve our
      banking, cash management and customer service capabilities.

      1. The City currently maintains the following accounts:

            General Account (concentration account for deposits and disbursements)
            Payroll Account (checking account ZBA to/from General Account)
            Credit Card Account (depository ZBA to General Account)
            Flexible Spending Account (checking account – stand alone)
            SCRMA Account (checking account – stand alone)
            Several joint City/Developer accounts (escrow depository accounts –
             stand alone and interest bearing)

      2. The numbers of transactions indicated in this RFP are an estimate of the
         City’s banking activities. The actual number of transactions may vary, and no
         guarantees are provided by the City regarding minimum and maximum
         volumes. The average monthly volume of activity for the major accounts are
         as follow:

            150 deposits
            2,000 check disbursements
            15 wire transfers
            5 transfers between accounts
            10 Automatic Clearing House (ACH) Debit

                                                                  CITY OF CORONA
                                                              RFP – Banking Services

       1,800 Electronic Fund Transfer (EFT) payroll
       350 Electronic Fund Transfer (EFT) Heller & Associates
       Average daily balance of $3,000,000

3. The City accesses the following banking services on-line:

       A daily prior day balance report itemizing the day’s activity
       Viewing and placing stop payments
       Viewing cleared checks
       Performing transfers between City accounts
       Sending wire transfers and / or ACH debits
       Downloading cleared check data to interface with the City’s accounting
       Text file transfer for direct deposit of payroll

4. “Same-day” credit guarantee for U.S. Treasury, State, and County check
   deposits upon receipt.

5. Armored courier services are provided by the bank.

6. Immediate notification of any Electronic Fund Transfer (EFT) returns.

7. Same day credit for EFT payroll disbursements to employees who bank with
   the selected vendor.

8. Free checking accounts for employees who choose to bank with the selected
   provider. The City currently employs approximately 1,200 employees with 74
   employees currently using this service.

9. Facsimile signatures for check issues.

10. Compensation for the bank service charges through Compensating Balance.

11. “Daylight Overdraft” line of credit for an amount of $10,000,000 to cover
    inadvertent overdrafts.

12. Periodic Letters of Credit to be issued to cover certain utility agreements.

13. Several interest-bearing Escrow Accounts for construction projects are
    arranged through an Escrow Agreement with the Contractor, the City, and the
    Bank, per the California Public Contract Code Section 22300. Separate
    monthly escrow statements are mailed to the City and the Contractor.

                                                                     CITY OF CORONA
                                                                 RFP – Banking Services

       14. Monthly bank statements and analysis statements for each account with a
           parent summary. The account balance report identifies the ledger and
           collective balance.


       1. Acceptable banking proposals should address all of the items identified in the
          Proposal Format and Content, in the order that they appear. Proposals
          received that are not in compliance will be rejected. Each proposal package
          should contain one unbound original and five (5) bound copies of the proposal.

       2. Schedule

          Request for proposal issued                          December 6, 2004
          Proposal Conference                                  December 15, 2004
          Due Date for proposals                               January 10, 2005
          Interview with Finalists                             Week of February 1, 2005
          Budget and Finance Committee                         February 23, 2005
          Selected firm notified, pending Council approval February 24, 2005
          City Council Approval (contract date)                March 16, 2005
          Implementation begins on or before                   March 17, 2005
                               **Projected dates, subject to change**

       3. A Proposer Conference will be held on Wednesday, December 15, 2004 at
          9:30 a.m. to answer any questions that prospective firms may have regarding
          the City’s RFP at:

                     Corona City Hall, City Council Chambers
                     815 West Sixth Street, Corona, CA

          Inquiries should refer to specific RFP sections and/or paragraphs. An
          addendum to the RFP will be issued, if necessary, following the Proposer

       4. Any concerns related to this RFP should be directed to Karrie Swaine, Cash
          Management Analyst at (951) 817-5756.

       5. All submitted proposals and information included therein or attached thereto
          shall become public record upon their delivery to the City.

                                                                    CITY OF CORONA
                                                                RFP – Banking Services

6. The City of Corona reserves the right to amend, alter, or revoke this RFP in any
   manner at any time. Any modifications, clarifications, or additions will be
   distributed as an addendum to all known participants.

7. The vendor shall wholly absorb all costs incurred in the preparation of this

8. Proposal packages shall be submitted in sealed envelopes clearly marked

              City of Corona, Purchasing Office
              730 Corporation Yard, 2nd floor, Corona, CA 92882

   Proposals must be received at or before 4:00 P.M. on Monday, January 10,

9. All proposals shall be firm for a period of ninety (90) days following the required
   date of submission.

10. Any submitter of a proposal may withdraw their proposal, either personally or by
    written request at any time prior to the scheduled closing time for receipt of
    proposals. Such requests should be directed to the Cash Management Analyst.

11. Proposals submitted will be subject to the City’s selection procedures for
    technical and/or professional consultants. Accordingly, final selection will be
    based upon overall capability to perform services and not exclusively upon cost
    of services.

12. The City reserves the right to reject any or all proposals, to waive any non-
    material irregularities or information in any proposal, and to accept or reject any
    items or combination of items.

13. If the selected bank does not execute an agreement with the City by March 07,
    2005, the City may give notice to that bank of the City’s intent to select from the
    remaining proposals or to call for new proposals, whichever the City deems

14. The City reserves the right to cancel the contract at any time upon thirty (30)
    day's prior written notice of the intent to terminate. The designated bank shall
    provide the City at least thirty 30 days written notice of its intention to terminate
    the contract.

15. The term of the contract shall become effective immediately upon execution by
    all parties. The contract entered into between the City and the bank shall be for
    a three (3) year term, with an option to extend two (2) years at the discretion of
    the City.

                                                                     CITY OF CORONA
                                                                 RFP – Banking Services



        To be considered for selection, proposing banks must have at least the
        following qualifications:

              Be a Federal or State of California chartered financial institution.
              Be a member of the Federal Reserve System and have access to all
              Be a qualified depository for public funds.
              Be a full service bank in good standing among other comparable banks.
              Be capable of providing the services sought by the City.
              Have established offices within the City of Corona.
              Maintain strong financial ratios.
              Have pledged securities as collateral in the City’s name with a market
               value of 110% of the City’s deposit as required by California Government


        Award will be made to the Proposer offering the most advantageous proposal
        after consideration of all evaluation criteria set forth below. The criteria are
        not listed in any order of preferences. An evaluation committee will be
        established by the City. The Committee will evaluate all proposals received in
        accordance with the evaluation criteria. The City reserves the right to
        establish weight factors that will be applied to the criteria depending upon the
        order of importance. Weight factors and evaluation scores will not be
        released until after award of proposal. The City shall not be obligated to
        accept the lowest priced proposal, but will make an award in the best interest
        of the City after all factors have been evaluated.


        Evaluation criteria that will be used to evaluate all proposals that are received
        are listed below:

        a. Qualifications and availability of key persons to be assigned to the
           contract resulting from this solicitation
        b. Number of years of experience the Proposer has in this type of business
           and with accounts of this size
        c. Demonstrated competence
        d. Experience in performance of comparable work

                                                              CITY OF CORONA
                                                          RFP – Banking Services

  e. Reasonableness of cost
  f. Financial stability of firm
  g. Conformance with the terms of this RFP

  The evaluation committee may contact and evaluate the Proposer's
  references, contact any Proposer to clarify any response, contact any current
  users of a Proposer’s services, solicit information from any available source
  concerning any aspect of a proposal, and seek and review any other
  information deemed pertinent to the evaluation process. The evaluation
  committee shall not be obligated to accept the lowest priced proposal, but
  shall make an award in the best interest of the City.

  A Notification of Intent to Award may be sent to any Proposer selected.
  Award is contingent upon the successful negotiation of final contract terms.
  Negotiations shall be confidential and not subject to disclosure to competing
  Proposers unless an agreement is reached. If contract negotiations cannot
  be concluded successfully, the City may negotiate a contract with the next
  highest scoring Proposer or withdraw the RFP.


  Selection of qualified Proposers will be based on the following: quality and
  completeness of submitted proposal; experience and expertise with public
  agencies and similar types of efforts; and references. Additional questions may
  be asked of Proposers and interviews may be conducted. Proposers will be
  notified of any additional required information or interviews after the written
  proposals have been evaluated.

  Interviews will be held with the most qualified respondents. The recommended
  proposal will be submitted to the City Council for contract approval. The
  Proposer selected will enter into a contract with the City.

                                                                       CITY OF CORONA
                                                                   RFP – Banking Services



Submission - quality and completeness relative to the description given in the

Qualifications - demonstration of meeting the minimum qualifications, ability to
meet the City’s requirements as outlined in this RFP, and to provide                  50%
innovative or advanced products and/or services.

Experience - experience with similar organizations or public agencies. Staff
experience and qualifications.

Conversion Plan                                                                       10%

Total                                                                                100%

                                                                       CITY OF CORONA
                                                                   RFP – Banking Services

     In order for the City to be able to adequately compare and evaluate proposals, all
     proposals must be submitted in accordance with the format detailed below. Each
     proposal should be separated by section and tabbed in conjunction with the
     proposal specification (i.e. “Tab A – Letter of Transmittal”, “Tab B – Bank Profile”,


     Describe the vendor’s understanding of the work to be performed and why this
     vendor is the best qualified to perform the services required. This letter of
     transmittal must state the names of the individual(s) authorized to negotiate with
     the City and sign contracts on behalf of the vendor. (Refer to Tab G)



        a. Each proposer shall submit with their proposal copies of their audited annual
           financial reports for the past three (3) years. These reports will be used by
           the City to determine the financial strength of the proposer. The successful
           proposer shall, during the duration of this contract, continue to furnish to the
           City updated issues of each report in a timely manner.

        b. Identify key measures of the bank’s financial strength:

                  Capital ratios
                  Market capitalization
                  Total Assets
                  ROA
                  ROE

        c. Provide ratings for the bank and /or holding company from two of the
           following agencies: Standard & Poor’s, Moody’s, Thomson BankWatch,
           Sheshunoff, or Lace.


        a. List names, titles, phone and fax numbers, and e-mail addresses and
           provide brief biographies of primary bank contact personnel.

                                                                  CITY OF CORONA
                                                              RFP – Banking Services

   b. Will one primary contact be assigned to the City account? If so, from which
      area of the organization?


   Provide names and phone numbers of a minimum of three references,
   preferably within our industry or with comparable volumes, which are currently
   using the services requested in this RFP. Select a mix of long-standing and
   recent customers.


   Describe the bank’s direct experience in serving public sector clients. Please
   include the number of public agency clients, the dollar amount of the public
   funds on deposit, and bank’s knowledge of and adherences to the California
   Government Code and other applicable laws.


   Detail the formal disaster recovery plan in place in the event of a systems failure
   or other disaster at the bank’s primary processing site? When was the plan last
   updated and tested?


The City requires a smooth and low-cost transition to a new bank or to enhanced
services with its existing bank.

1. Describe an overall plan to ensure a smooth transition from current bank
   service providers.

2. Detail all costs and responsible party (City or Bank) in connection with the
   conversion. State a specific dollar amount or identify those supplies,
   products, or services included or not included.

3. Discuss the training program for City staff (i.e. on-site training). How is this

4. Provide a time table for the transition period.


1. Depository Service Options

                                                           CITY OF CORONA
                                                       RFP – Banking Services

a. Deposit preparation:

   1) Describe the requirements for deposit preparation.
   2) Are the deposit tickets available in multiple part forms? How many
      copies would the bank require?
   3) Would the bank require that checks and currency be on separate
      deposit tickets?
   4) Do you require that cash be deposited in standard straps only? Is
      there a penalty for depositing non-standard straps?
   5) Is there a fee for depositing loose or rolled coin?
   6) How many bank employees are present when deposit bags are
      opened? Describe specific security measures employed.
   7) How will the bank return the validated deposit receipts to the City?
      Please specify the time frame.
   8) Can the deposit tickets contain an auxiliary MICR field for the City
      location and/or transaction information? If yes, can this information be
      included in the bank statement?
   9) What is the bank’s policy on receipt of tampered bags?

b. Deposit bags:

   1) What type of deposit bags will the bank allow? Would the bank
      provide these bags?
   2) Would the bank charge a fee for these bags?
   3) Would the bank limit the number of deposit tickets that can be included
      in one deposit bag?

c. Drop box services:

   1) Are night drop, vault, remote, and branch service available? Is pricing
      different for utilizing these different deposit options?
   2) Are any processing applications outsourced to a third party? If so,
      name the vendor(s) and describe the application(s).
   3) Identify the vendor’s branch locations within the City of Corona limits.
      Do all locations provide night depository services? Is there a secured
      night drop box?

d. Same-day ledger credit:

   1) What is the cut-off time to ensure same-day ledger credit?
   2) Is it the same for night drop, vault, armored courier service and branch
   3) Is it the same for cash, checks, drafts, and others?
   4) Are there any options that might affect this cut-off time (provisional
      credit, delayed verification)?

                                                                CITY OF CORONA
                                                            RFP – Banking Services

   e. How will the bank determine and calculate availability of deposited items?

   f. Will the bank provide armored courier services? Will the bank allow
      armored courier pick-ups after 1pm and still receive same day ledger

   g. With Check 21 going into effect, describe the effects to the City’s check

   h. Does the bank accept pre-encoded checks? What type of discounts will
      be provided? If pre-encoded checks are rejected, what are the additional
      costs, if any?

   i.   Does the bank identify and adjust all discrepancies? Describe the process
        in detail.

   j.   When counterfeit bills are discovered, what is the bank’s notification and
        adjustment process?

2. Return Item Processing

   a. Provide the bank’s standard return item and re-clear processing
      instructions. List any non-standard options that are available.

   b. Return item transmission:

        1) Are detailed return item transmission provided to the City? If not, when
           will the service be available?
        2) Does the transmission include both returns and re-clears?
        3) Is there a separate record for each returned item?
        4) Can these records identify the depositing location and the type of item
           being returned (personal check, traveler’s check, money order)?
        5) Indicate which of the following details the bank can report:

              Check number ___________
              Check date ____________
              Check amount _____________
              Reason code ___________
              Check account and ABA number ___________
              Full name of check _______________
              Complete address _____________
              Phone numbers ___________
              Driver’s license number and state _____________
              Original deposit date _______________
              Copy of check __________________

                                                                 CITY OF CORONA
                                                             RFP – Banking Services

3. Transaction Research

   a. What documentation is provided with deposit correction adjustments?
      What delivery methods are available?

   b. Within what time frame can the bank provide requested copies or
      documentation? What delivery options are available?

   c. Are there additional costs for research?

   d. Can duplicate copies of deposit slips or debit/credit memos be requested?
      At what cost?

   e. Does the bank have the ability to confirm the clearing status of a check as
      an on-line service? If not, by phone?

4. Wire Transfers

   a. Please describe the bank’s on-line wire transfer service capabilities and
      what specifically is recommended for the City’s use and consideration.

   b. What are the extraction/funding requirement for wire payments?

   c. What is the bank’s cut-off time for receiving same-day and next day
      payment requests?

   d. Please provide a description or sample of the bank’s fund transfer

   e. How soon after wire execution can the City receive a confirmation? Will
      the bank send the confirmation via email or fax?

   f. When and how can a wire transfer be canceled? Describe procedures in

   g. At what point does the bank assume legal liability for executing a wire
      transfer? How is that event identified?

   h. What is the bank’s policy in the event of wire failure for which receipt
      instructions has been confirmed to the City?

   i.   How and when will the City be notified of a failed wire transfer?

   j.   Is the bank’s wire transfer system capable of warehousing instructions for
        future value dated wire transactions? If so, what are the limitations? How

                                                                 CITY OF CORONA
                                                             RFP – Banking Services

       many days/months in advance? Is the warehouse function limited to
       certain type of wire transfers? Explain.

  k. Can the wires be input, approved, and released so they will be executed
     automatically on value day? Will the wire transfer system provide a tickler
     report of warehoused transfers that are pending current day release?

  l.   At what time are future value dated wires automatically executed on the
       value date?

  m. Is it possible to cancel a previously warehoused wire transfer request
     before value day? On value day?

  n. Describe the bank’s safeguards and security measures for wire transfers.

  o. Will the bank provide the City a line of credit to cover inadvertent
     disbursement overdrafts? How much are the overdraft charges?

  p. How much “Daylight Overdraft” line of credit will the bank provide to cover
     inadvertent overdrafts?

5. Check Disbursement

  a. Describe the overall effects of Check 21 to the City.
  b. Does the bank offer a CD-Rom imaging service? If yes, describe the
     service and the cost associated with this service. Include a description of
     the bank software for reading the CD-Rom and when (monthly) will the
     City receive the CD-Rom?

  c. How long will you retain the physical checks? After what period are they
     stored off-site? How long is microfilm retained?
  d. Explain whether copies or images of checks can be requested on-line. If
     yes, how are they delivered? What is the turn-around time to receive a copy
     or image of check, the original check (if stored on-site), and the original
     check (if truncated and stored off-site).
  e. Stop payments:
       1) Can stop payments be placed on-line and/or manually?
       2) What is the deadline for same day action?
       3) Will the system verify if a check has been paid before accepting the
       4) How much history is examined in the verification process?
       5) How long will the stops remain in effect? Can the period be extended?

                                                               CITY OF CORONA
                                                           RFP – Banking Services

      6) Can you request stop payments for a range of checks? What is the limit
         of the range?

   f. Will the bank accept facsimile signatures for check issues?

6. ACH Transaction

   a. ACH Originated by the City (Debit / Credit)

         1) Provide a copy of the bank’s ACH origination agreement.
         2) What file format will the bank require for origination entries?
            Provide a sample of the file layout.
         3) What is the time limit to receive the file for same day processing?
         4) Will the bank accept files with mixed effective dates on the same
         5) Will the bank accept files with advance effective dates? If so, how
            far in advance will the bank accept the file?
         6) Can pre-notes be included on the same file as transactions?
         7) How will the bank notify the City of rejected pre-notes and rejected

   b. ACH Transactions from others (Debit / Credit)

         1) How is ACH activity reflected in online banking? Are transactions
            with a future effective date shown on the activity report? Are future
            transactions memo posted to balances?
         2) Detail the stop payment procedures for ACH debits.
         3) Will the bank send the City a pre-note for all new ACH activity? If
            so, will the bank require the City’s written authorization to accept
            future transactions? If the bank does not receive the City’s
            authorization, will the bank return the pre-note to the originator with
            the ACH notification as an unauthorized transaction?
         4) If the City does not authorize a pre-note, how will the bank prevent
            subsequent payment? Detail the bank’s procedures on disputed
            ACH activity.

7. Online Banking Services

   a. Describe the bank’s on-line service capability including any costs
      associated with setting up the system and ongoing costs for all options,
      including summary balance information, detailed transaction information,
      stop payments orders, ACH/Wire transfers.

                                                                  CITY OF CORONA
                                                              RFP – Banking Services

   b. Describe the bank’s on-line information reporting system such as, but not
      limited to, time of previous day availability, hardware/software
      specifications, and custom options.

   c. What reports are available and describe the security of data both internally
      and externally? How long is the data maintained?

   d. Can multiple users be assigned different user levels? Explain the process
      in detail.

   e. Can the City perform the following listed functions online?

      1) View stop payments and cleared checks
      2) View daily prior day balance report itemizing the day’s activity by 7 am
         the next day
      3) Perform transfer between City accounts
      4) Send wire transfers and ACH transactions
      5) Download cleared check data to be uploaded to the City’s accounting
         software for automatic clearing in our system. Describe the required
         file format
      6) Upload text file from the City’s accounting software to the bank’s on-
         line banking system for direct deposit of payroll. Describe the required
         file format

8. Direct Deposit of Payroll via EFT

   Direct deposit of payroll is currently in place, with the majority of the City’s
   employees participating.     The payroll files are transmitted every other
   Wednesday, as well as three other special payrolls throughout the calendar

   a. Describe the bank’s Direct Deposit service in detail.

   b. Will the bank provide free checking accounts for City employees?

   c. What are the different electronic file transmissions available to the City?

   d. Does the bank guarantee same day credit to city employees with accounts
      at the bank (i.e. Wednesday)?

   e. What are the transmission deadlines for direct deposit electronic files?
      Please specify the day and time the bank needs the file from the City and
      when the fund is debited from the City’s account.

   f. Does the bank accept pre-notes on the electronic file?

                                                                 CITY OF CORONA
                                                             RFP – Banking Services

   g. Describe the bank’s procedure for notification on a rejected or correction
      required on an electronic fund transfer (EFT).

9. LAIF Activity

   The City transacts State of California Local Agency Investment Fund (LAIF)
   fund transfers on a regular basis. Describe the bank’s procedure in LAIF
   incoming and outgoing transfers.

10. Letter of Credit

   Describe the bank’s procedures and requirements for issuing Letter of Credit.

11. Escrow Accounts

   a. Can the bank provide interest bearing escrow accounts arranged through
      an Escrow Agreement with the Contractor, the City, and the Bank, per
      California Public Contract Code Section 22300?

   b. Can the bank mail separate monthly bank statements to the City and the

   c. Can the bank remit monthly interest payments to the Contractor, if
      requested on an escrow agreement?

12. Bank Statements and Analysis Reports

   a. Can the bank provide a monthly bank statement within 10 days of month

   b. Can the bank provide a monthly analysis statement for each account with
      a parent summary within 10 days of month end?

13. Positive Pay

   a. Does the bank offer a daily service whereby it can provide the City a daily
      notification of all "paid not issued" (PNI) checks (Positive Pay)?
   b. If the City is able to provide the bank with a file of all checks issued and
      voided prior to the checks being distributed, does the bank have the ability to
      accept and read the file? Describe the file format required.
   c. What form of communication will the bank require for manual issues or

                                                                 CITY OF CORONA
                                                             RFP – Banking Services

   d. Are cashed checks verified against the issue file at the point of encashment,
      i.e., by the bank's teller? If no, what is the process for dealing with cashed
   e. How are PNI reports delivered? Is this report integrated with the bank’s
      balance reporting system/software?
   f. Are MICR errors/misreads deleted from the PNI report prior to the report
      being sent/transmitted?

   g. Can check copies be integrated with the PNI report? If yes, how are check
      copies delivered? If no, can check copies be delivered separately from the
      PNI report? Describe the process.

   h. What is the bank’s delivery deadline for notifying the City of PNI checks?

   i.   What is the response deadline for the City’s pay decisions?

   j.   Are approved PNI checks automatically added to the issue file for account
        reconciliation purposes?

   k. What is the deadline for the transmission of check issuance files to the

   l.   Does the bank offer a daily service to transmit checks paid data to the City
        and accept a file of PNI checks (Reverse Positive Pay)?
   m. What other review criteria are available for Positive Pay services?

   n. In the event that the bank does not receive the customer’s pay decision
      response by the stated deadline, what is the default disposition?

        Pay ______          Return _______              Optional ______
14. Automated Teller Machine

   The City would like to install an ATM at two locations: the City Library and City
   Hall. The ATM’s must be maintained by the bank.

   a. Describe in detail the ATM requirements

   b. Since the ATM’s are maintained by the bank, what are other costs
      associated that the City may incur?

   c. How will the City be reimbursed for such cost? Will it be through a portion of
      the fees charged to the customer?

                                                                 CITY OF CORONA
                                                             RFP – Banking Services

   d. Detail all functions and other services related to the ATM.

15. Calculation of Bank Compensation

   The City may compensate the Bank in one or a combination of the following

         Direct Fees or Charges (volume or non-volume based)
         Compensating Consolidated Fund Account Balance

   a. For the compensating balance payment option, respond to the following

      1) What is the bank’s Earning Credit Rate (ECR) based on, and how is it
      2) List the bank’s actual ECR for the last six months?
      3) How will the bank stipulate the required compensating balance?
          Provide the formula for computing the compensating balance
      4) For what period of time would the bank agree to a fixed amount for
          compensating balance, regardless of the volume of transactions?
      5) How much notice will the bank provide prior to the effective date of any
          change in compensating balance?
      6) Detail exactly which types of items and services can be applied against
          the City’s account analysis in addition to standard banking services
          such as armored car services, bank courier service, on-line
          transactions, etc.?
      7) State the negative collected balance charge that the City will pay, and
          in detail explain how this charge is computed?
      8) In the event that the City’s actual collected balance exceeds the
          amount stipulated, would the bank agree to pay interest on the
          excess? If so, state the period for calculation and the formula.
      9) Explain, in detail, how and when the FDIC assessment is computed
          and charged?
      10) What account analysis settlement period will be offered? Monthly,
          quarterly, or semi-annually?
      11) How many days after month-end can the City receive its monthly
          Account Analysis?
      12) What procedure is used to make any adjustments to Account Analysis
          statements and how long does it take for adjustments to take effect?

   b. For the direct fee payment option, respond to the following questions:

      1) Will the bank credit against fees the interest on average collected
         balance (monthly or other)? Indicate what index the interest rate is tied
         to and specify formula for calculating interest.

                                                                     CITY OF CORONA
                                                                 RFP – Banking Services

             2) For how long a period would the bank guarantee the fixed charges
             3) On what basis would the fixed charges be modified?
             4) When would payment be due for fees?


See Attachment “A”


         Exhibit 1: Attachment “B” is the City of Corona’s Professional Services
          Agreement. Specific terms and conditions represented in the proposal may
          be used as an exhibit to the City’s Professional Services Agreement.

         Exhibit 2: Provide a sample of a monthly account analysis statement and the
          user’s guide to the account analysis statement.

         Exhibit 3: Provide a sample of a monthly bank statement.

         Exhibit 4: Provide a sample of a prior day daily balance report. Indicate what
          time the report is available.

         Exhibit 5: Provide a sample of a positive pay report. Indicate what time the
          report is available.

                                                                          CITY OF CORONA
                                                                      RFP – Banking Services


  Every proposal must be signed by the person or persons legally authorized to bind the
  Proposer to a contract for the execution of the work. If an individual makes the
  proposal, his or her name, signature, and post office address must be shown. If a firm
  or partnership makes the proposal, the name and post office address of the firm or
  partnership and the signature of at least one of the general partners must be shown. If
  a corporation makes the proposal, the proposal shall show the name of the state under
  the laws of which the corporation is chartered, the name and post office address of the
  corporation and the title of the person signing on behalf of the corporation. Upon
  request of the City of Corona, the corporation shall provide a certified copy of the
  bylaws or resolution of the board of directors showing the authority of the officer signing
  the proposal to execute contracts on behalf of the corporation.

  Representations made under Penalty of Perjury: The representations herein are
  made under penalty of perjury. We hereby offer to provide the City of Corona the
  above service(s) at the prices shown and under the terms and conditions herein,
  incorporated by referenced.

   Proposer Name (Person, Firm, Corp.)             Signature of Authorized Representative

   Address                                         Print name of Authorized Representative

   City, State, Zip
   Code                                            Title of Authorized Representative

   Number                                          Facsimile Number

                                                               CITY OF CORONA
                                                           RFP – Banking Services

                          ATTACHMENT A
                       BANKING PRICE SHEET


                                 ITEMS                            COST

Branch Deposit - per deposit

Vault Deposit - per deposit regular hours

Night Drop Box Deposit - per deposit

Secured Deposit Overnight - per deposit

Checks deposited - on you

Checks deposited - on other banks

Checks deposited - pre-encoded on you

Checks deposited - pre-encoded other

Encoded check reject rate charge

Change Order - Standing per order

Change Order - Branch transaction

Deposit Correction

Deposited Item Recleared

Deposited Item Returned

Armored Car Service - per business day

Armored Car Service (same day credit) - per business day

Night Drop Bags - Canvas

Night Drop Bags - Plastic

Straps for Currency Deposits

Deposit Slip Orders - per account (box of 1000)

                                                   CITY OF CORONA
                                               RFP – Banking Services

Checks Paid - not returned

Checks Paid - truncated

12 month stop payment (on phone) - per item

12 month stop payment (on-line) - per item

Check Orders - per account (box of 1000)

Check Copies (fax or mail) - per item

Check Copies (on-line) - per item

Check Imaging (on-line) - per item

Check Imaging (CDROM) - per item

Check Inquiry (on-line) - per item

ACH Credit - per item

ACH Debit - per item

ACH (direct deposit) payroll - per item

ACH Flex Account - per item

ACH Returned Items

ACH Data Transmission

ACH Add / Delete

ACH Reversal

ACH Implementation / Custom

ACH Notification of Changed

ACH Return Notification

ACH Template Set-Up Fee - per item

                                                        CITY OF CORONA
                                                    RFP – Banking Services

Outgoing Wire Repetitive (phone) - per item

Outgoing Wire Non-Repetitive (phone) - per item

Incoming Wire - per item

Book Transfer In (non-confirmed) - per item

Book Transfer Repetitive - per item

Book Transfer Non-Repetitive - per item

Outgoing Wire Repetitive (on-line) - per item

Outgoing Wire Non-Repetitive (on-line) - per item

Book Transfer Repetitive (on-line) - per item

Book Transfer Non-Repetitive (on-line) - per item

Automatic Transfer to/from ZBA - per account

LAIF transfer (incoming / outgoing) - per item

Wire Template Set-up Fee - per item

Positive Pay - per account

Reverse Positive Pay - per account

Set-up Fees

Monthly Maintenance Fee

Previous Day Balance Reporting

Previous Day Detail Reporting

Current Day Reporting

Set-up Fees

                                                                 CITY OF CORONA
                                                             RFP – Banking Services

Monthly maintenance Fee - per account

ZBA Monthly Maintenance Fee - per account

Escrow Interest Bearing Maintenance Fee - per account

Escrow Interest Bearing Set-up Fee - per account

Escrow Interest Disbursement Fee - per account

Account Analysis Fee - per account

Account Analysis Report - per account

Bank Statements - per account

Bank Statements - additional statements for escrow account

Bank Statements (off-cycle) - per account

Letter of Credit Set-Up Fees

Letter of Credit other fees (please specify)

All other fees, please list in detail












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