RFP Financial ServicesTHE CITY OF
DuB E MEMORANDUM
~~~
April 11, 2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Request for Proposals for Financial Services
Finance Director Ken TeKippe is recommending the issuance of a Request for Proposal
for Financial Services for five years for the City of Dubuque.
It is recommended that the Request for Proposal be provided to all financial institutions
headquartered in the City of Dubuque, or that are located in the City of Dubuque and
have at least 75 employees. The following institutions would receive the Request for
Proposal:
American Trust & Savings Bank
Dubuque Bank and Trust
Dupaco Community Credit Union
Dutrac Community Credit Union
Premier Bank
U.S. Bank
A review committee of City employees consisting of Finance Director Ken TeKippe,
Assistant Finance Director Jean Nachtman, Budget Director Jennifer Larson and
Information Services Manager Chris Kohlmann will be assisted by Heather Deininger of
Honkamp Krueger in reviewing the responses to the Request for Proposal. It is
anticipated that a recommendation will be made to the City Council for selection of a
financial institution to provide financial services at the May 21, 2007 City Council
meeting.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
MCVM/jh
Attachment
jj ,'~ i'~,
G~~ ~~ j ~ ~ '~ ;
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Michael C. Van Milligen
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Ken TeKippe, Finance Director
THE CITY OF
DUB E
~~
Memorandum
TO: Michael C. Van Milligen, City Manager
FROM: Ken TeKippe, Finance Director ` ~~ -~~ 2~~
SUBJECT: Request for Proposal (RFP) for Financial Services
DATE: April 4, 2007
BACKGROUND
The purpose of this memo is to provide an RFP for financial services for five years.
There is no record of a Financial Services RFP issued by the City in the past 10 years.
DISCUSSION
A committee will review proposals submitted and provide a recommendation. The
tentative timeframe for the RFP process follows:
April 17, 2007 Release RFP to Financial Institutions
May 1, 2007 Proposals Due
May 14, 2007 Committee Recommendation to City Manager
May 21, 2007 City Council Approval
May 22, 2007 Financial Institutions Notified of Selection
The following group is recommended to serve as the review committee:
Ken TeKippe Finance Director
Jean Nachtman Assistant Finance Director
Jenny Larson Budget Director
Chris Kohlmann Information Services Manager
Heather Deininger Honkamp Krueger, CPA Consultant
The RFP will be provided to the following financial institutions, all headquartered in the
City of Dubuque, or have at least 75 employees in Dubuque locations:
American Trust & Savings Bank
Dubuque Bank and Trust
Dupaco Community Credit Union
Dutrac Community Credit Union
Premier Bank
U.S. Bank
RECOMMENDED ACTION
The recommended action at the April 16, 2007 meeting is for the City Council to
authorize the release of the RFP for Financial Services.
KT/jg
Enclosure
City of Dubuque
Request for Proposal
for
Financial Services
Table of Contents Page(s)
Section I: Background Information 2 - 3
Section II: Information Reporting 4 - 5
Section III: Depository Service s - 9
Section IV: Automated Clearinghouse 10 - 11
Section V: Disbursements 12 - 13
Section VI: Wire Transfers 14 - 15
Section VII: Financial Institution Services Bid Form 16 - 1 s
Section VIII: Interest and Fee Computation Worksheets 19 - 22
Supplement
A. Credit Cards 23
April 2007
City of Dubuque
Request for Proposal
Section l: Background Information
The City of Dubuque (City) currently maintains financial services with various local
financial institutions. The City is looking to combine primary services with one
institution, for a general checking account and payroll account. The City would like the
bidding institutions to have a minimum of $10,000,000 in equity capital. In addition, the
City would expect the financial services relationship to continue for a minimum of five
years with the City's option to continue for additional years.
Information to be Provided by Financial Institution
FINANCIAL INSTITUTION BACKGROUND
In addition to responding to requests below, include copies of the financial institution's
most recent Annual Report, audited financial statements, and a copy of the institution's
December 31, 2006, call report.
SAFETY AND SOUNDNESS
• Identify key measures of the financial institution's financial strength, e.g. capital
ratios, market capitalization, total assets.
REFERENCES
1. Provide names and phone numbers of three references, preferably within
government industry or with comparable volumes. Detail each service used by
the references and length of relationship with the financial institution.
2. Provide any additional information, which you believe to be relevant to this RFP
and your capabilities to provide the services requested, e.g., product brochures,
articles in trade journals, etc.
COMPETITIVE POSITION AND FUTURE COMMITMENT
• List the location of your branches or affiliated financial institutions in the City of
Dubuque.
CUSTOMER SERVICE -Address for each financial service.
1. Who will be the member of management that is our main contact? Please
provide the individual's name, title, location, telephone number, a-mail and length
of service with financial institution.
City of Dubuque Page 2 of 23
City of Dubuque
Request for Proposal
Section l: Background Information
CUSTOMER SERVICE (continued) -Address for each financial service.
2. Indicate your financial institution's customer service organizational structure,
including whether each service area has its own customer service department or
if there is centralized customer service for all departments.
3. Will a specific customer service representative be assigned to handle each
financial service area?
a. Describe the responsibilities of customer service personnel, including the
chain of command for problem resolution.
b. Is local customer service support available for the City?
4. What are the hours of operation of the customer service unit?
5. How does the financial institution handle inquiries requiring research and
adjustments?
6. Are there established turn-around times for research and adjustment items? If
yes, specify.
7. What is the financial institution's record on meeting established response times?
8. Does the financial institution provide technical customer support for computer
hardware, software and communications problems?
IMPLEMENTATION -Address for each financial institution service.
1. Provide a copy of all agreements that will be required to initiate each service.
2. Provide a detailed description of the implementation process for each service
and information reporting, including testing, and a sample implementation
schedule.
3. What is the average lead-time for implementation in each area? What are the
critical factors that may impact that lead-time?
4. Describe support provided during implementation in each area, including training,
technical assistance, user manuals, and on-site visits. Does the financial
institution assign an implementation team?
Ciry of Dubuque Page 3 of 23
City of Dubuque
Request for Proposal
Section ll: Information Reporting
PROCESSING
1. At what time is previous day information available for access by the customer? If
information is delayed, how and when will the customer be notified?
2. What are the hours of access for the information reporting system?
3. Does the financial institution provide current day information? At what time?
How frequently is this information updated throughout the day? At what times?
Provide a list of transaction types available on your current-day reports.
4. Describe the level of detail provided in previous and current day reports and
provide examples of balance and transaction reports.
5. Discuss the features of the financial institution's capabilities. Does the financial
institution's system offer the ability to inquire about specific transaction types?
6. How many days of history can be accessed through the system? Provide a
sample report?
a. Does the system provide for history inquiry by date ranges?
b. Does the system allow history retention to be determined by the
customer?
c. Does the financial institution have the ability to provide the customer with
a download of historical data and/or a file of check items clearing the
financial institution?
7. What other financial services are available through the information reporting
system?
TECHNICAL CAPABILITIES
1. What hardware/software does the financial institution recommend to customers
to deliver balance and transaction detail information?
2. What security procedures does the financial institution use to protect access to
customer data (hardware/software, physical)?
3. What are the hours of technical support?
City of Dubugue Page 4 of 23
City of Dubuque
Request for Proposal
Section ll: Information Reporting
TECHNICAL CAPAB/L/T1ES (continued)
4. Does the financial institution utilize Internet capabilities as a method of
information delivery? If yes, explain. If no, are there plans to introduce Internet
capabilities, over what time frame and how?
5. What type of information technology consulting does the financial institution
offer?
IMAGE PROCESSING
1. Describe the financial institution's current or planned image processing
capabilities.
a. Do they include on-line customer access to disbursements (front and
back), deposit, remittance advices, returns and adjustment images? Are
the images available on a same day basis?
b. If not currently available, when do you plan to implement image services?
c. Are you currently using image for internal financial purposes? If not, what
are your plans?
d. What are the hardware and software requirements for the customer?
DISASTER RECOVERY
1. Provide a summary of the financial institutions disaster recovery plan.
2. Where are off-site facilities?
3. How quickly can the "hot" site be implemented in the event of an emergency?
City of Dubuque Page 5 of 23
City of Dubuque
Request for Proposal
Section lll: Depository Service
PROCESSING
1. Are night drop, remote and branch service options available? Is pricing different
for utilizing these different deposit options?
2. Is daily courier service available after 4:00 p.m.? If not, what is latest available
pick up time?
a. Is there a cost for this service?
b. Charge per location? (i.e. City Hall, Airport, Keyline, Bunker Hill, etc.)
c. Is the service bonded?
3. What is the cut-off time to ensure same day ledger credit?
a. Is it the same for night drop and branch services?
b. Is it the same for cash as for checks, drafts, etc?
4. What type of deposit bags does the financial institution allow/require?
a. Does the financial institution provide these bags?
b. Does the financial institution charge a fee for these bags?
5. Are there any restrictions on deposit bags provided by the customer?
6. Does the financial institution limit the number of deposit tickets that can be
included in one deposit bag?
7. Are the deposit tickets that the financial institution provides available in multiple
part forms?
a. Is there a fee for providing deposit tickets?
b. How many copies does the financial institution require?
8. Does the financial institution accept deposit tickets from athird-party printer? List
any limitations.
9. Does the financial institution accept loose and/or rolled coin for deposit at branch
and night drop locations? Is there a fee for counting loose coin?
10. How do you determine and calculate availability of deposited items?
a. Does the financial institution give immediate availability for on-us item?
City of Dubuque Page 6 of 23
City of Dubuque
Request for Proposal
Section Ill: Depository Service
b. Does the financial institution calculate availability by item or formula?
c. Does the financial institution use a standard schedule? Accelerated
schedule? How often is it updated?
d. Can the financial institution provide intra-day or next day recap of deposit
availability?
11. What are the requirements for depositing checks (i.e. pack size, audit tapes)?
DEPOSIT VERIFICATION
1. How will the financial institution return the validated deposit receipts to us? Within
what time frame?
2. Does the financial institution identify and adjust all discrepancies? Per City
procedures all discrepancies are required to be resolved.
a. Do you adjust the deposit amount or process an adjusting debit or credit?
b. What is the standard procedure for reporting deposit adjustment? What
additional options are available (e.g. copies to multiple locations)?
3. What is the financial institutions policy on receipt of tampered bags?
4. When counterfeit bills are discovered, what is your notification and adjustment
process?
RETURN ITEM PROCESSING
1. Can return items be automatically redeposited?
a. How many times?
b. Costs to redeposit?
2. Provide the financial institution's standard return item and reclear processing
instructions. List any non-standard options that are available.
3. Can the financial institution provide a detailed return item transmission to the
depositing location? If not, when will the service be available?
a. Does the transmission include both returns and reclears?
b. Is there a separate record for each returned item?
City of Dubuque Page 7 of 23
City of Dubuque
Request for Proposal
Section Ill: Depository Service
c. Can these records identify the depositing location and the type of item
being returned (e.g., personal check, traveler's check, money order)?
d. Indicate which of the following details the financial institution can report:
Check number Full name on check
Check date Complete address
Check amount Phone numbers
Reason code Driver's license number and state
Original deposit date Check account and ABA number
4. Is it financial institution policy to refuse return items not sent through the system
in a timely manner? What is normal time allotted?
DEPOSIT REPORTING
1. What type of deposit reporting services does the financial institution provide for
utility payments paid at multiple locations on the same day? Are these services
optional?
2. What, if any, are the special requirements of the customer in order for the
financial institution to provide location reporting?
3. Does the financial institution's deposit reporting service report electronic
transactions (e.g. merchant card deposits, ATM deposits, ACH, wire), as well as
paper documents?
4. What is the financial institution's deadline for deposit reporting for evening
processing and next day availability?
DEPOSIT RECONCILIATION PAPER REPORT
1. Does the financial institution offer a Deposit Reconciliation paper report service
for deposit accounts?
2. What, if any, activity is reported as miscellaneous transactions?
3. What is the financial institution's standard cut-off for statements and/or paper
reports?
4. Can the customer specify acut-off date for statements and/or paper reports?
5. How soon after the cut-off date will the following be sent?
a. Financial institution statements
City of Dubuque Page 8 of 23
City of Dubuque
Request for Proposal
Section 111: Depository Service
b. Reconciliation Information
ELECTRONIC DEPOSIT REPORTING
1. Can the financial institution provide electronic reporting of deposit detail activity?
On what frequency is the information available, e.g., daily, weekly, monthly?
2. Can multiple users from multiple locations access the information? If so, can the
financial institution restrict users to accessing only portions of the information?
Do users have the flexibility to access only portions of the information?
3. For daily reporting, what time each day is the data available?
4. Describe the technical support available to aid in electronic data transmissions.
PRICING
1. Does the customer order deposit tickets and other supplies through the financial
institution or directly from a vendor? How are the charges handled?
2. Please indicate the formula or interest rate you will pay the City, based on
Federal Fund rate (not internal Financial Institution fund rate) and collected
balance. The average daily collected balance is projected to be $2,000,000.
The actual average daily collected balance for the accounts that may be
combined to one account is approximately $3,000,000 for the past year.
3. Is interest paid on collected balance or net of any reserve requirement?
4. What is the reserve requirement (percentage of collected balance or specific
dollar amount)?
City of Dubuque Page 9 of 23
City of Dubuque
Request for Proposal
Section IV: Automated Clearinghouse
PROCESSING
1. Describe the service delivery method (direct transmission, PC-based system,
terminal input) that the financial institution recommends based on the business
case that the City of Dubuque outlined. Include any alternative methods that
might meet the City's needs.
2. What are the hours of operation for ACH transactions?
3. What are the financial institution's cut-off times for customer initiation of ACH
transactions? Specify by input method for day cycle, night cycle, and same-day
book transfers.
Customer
In ut Method Cut Off Time
Da C cle Ni ht C cle Same Da Book Transfer
PC
4. Does the financial institution have a process to send encrypted files through the
web instead of a modem?
5. Describe the procedures used to verify accurate and secure receipt of
transmissions.
6. Can the financial institution automatically redeposit items returned for insufficient
or uncollected funds?
a. How many times?
b. Cost to redeposit?
c. When items are re-deposited, are any entries posted to the customer's
account?
7. What is the financial institution's maximum retention period for future dated
transactions? How long are transactions maintained for on-line reporting after the
effective date?
8. Does the financial institution provide a database of ACH member institutions?
Describe.
SECURITY
1. What security procedures are in place to minimize the risk of unauthorized
transactions (e.g., encryption/authentication)?
Ciry of Dubuque Page 10 of 23
City of Dubuque
_ Request for Proposal
Section IV: Automated Clearinghouse
2. What controls are in place to protect against lost files and duplication of
transmissions?
3. Does the financial institution provide automatic file receipt acknowledgements? If
so, how?
SETTLEMENT
1. What time and day must the customer fund disbursements?
2. What time and day will the customer receive availability for ACH collections?
3. When will settlements for this service be reported and/or posted?
DEBIT AUTHORIZATION SERVICE
1. Does the financial institution offer any service to protect the City's account from
unauthorized ACH debits?
2. Can the financial institution selectively accept ACH debits only from originators
authorized by the City:
a. How are such authorizations set up?
b. Can the financial institution ensure that originators do not charge the City's
account more than authorized?
3. Can the financial institution selectively accept ACH debits only from originators
authorized by the City:
4. Can the financial institution stop payment of individual transactions? Describe
the procedure.
5. By what methods does the financial institution notify the customer of the receipt
of unauthorized ACH debits?
City of Dubuque Page 11 of 23
City of Dubuque
_ Request for Proposal
Section V: Disbursements
ACCOUNT RECONCILIATION
1. How soon after the cut-off date will the following items be sent?
a. Reconciliation information
b. Financial institution statements
c. Cancelled checks (or other medium) accompany reconciliation reports
d. Transmitting paid check files
2. Is it possible to receive financial institution statements online?
3. Can stop payments be placed online?
a. What is the deadline for same day action?
b. Will the system verify if a check has been paid before accepting the stop?
c. How much history is examined in the verification process?
d. How long will the stops remain in effect?
e. Can the period be extended?
f. Can the financial institution request stop payments for a range of checks?
What is the limit of the range?
g. Cost?
4. Can stop payments be placed manually?
a. What is the deadline for same day action?
b. Will the system verify if a check has been paid before accepting the stop?
c. How much history is examined in the verification process?
d. How long will the stops remain in effect?
e. Can the period be extended?
f. Can the financial institution request stop payments for a range of checks?
What is the limit of the range?
g. Cost?
Ciry of Dubuque Page 12 of 23
City of Dubuque
Request for Proposal
Section V: Disbursements
5. What other reconcilement features does the financial institution have that
distinguish it from other financial institutions?
POSITIVE PAY
1. Does the financial institution offer a daily service whereby it can provide the
customer with a daily notification of all "paid not issued" (PNI) checks (Positive
Pay)? If no, please skip this section and proceed to Section VI: Wire Transfers.
2. If the customer is able to provide the financial institution with a file of all checks
issued and voided prior to the checks being distributed, does the financial
institution have the ability to accept and read the files?
3. Are cashed checks verified against the issue file at the point of encashment, i.e.
by the financial institution's teller? If no, what is the process for dealing with
cashed checks?
4. Are PNI reports delivered via a PC or Internet?
5. In regards to the PNI reports:
a. Is this report integrated with the financial institution's on-line balance
reporting system /software for account reconciliation?
b. Are MICR errors /misreads deleted from the PNI prior to the report being
sent /transmitted?
6. What other review criteria are available for Positive Pay services?
7. In the event that the financial institution does not receive the customer's pay
decision response by the stated deadline, what is the default disposition?
8. Can an outstanding check list be provided and at what intervals (weekly, bi-
weekly, monthly)?
City of Dubuque Page 13 of 23
City of Dubuque
Request for Proposal
Section Vl: Wire Transfers
/AIITI ATI/'1AI
1. Does the financial institution offer the following methods of initiation? If so,
describe each method's process of initiation and release?
a. Voice
b. Touch-tone phone
c. Fax
d. PC
CUT-OFF TIMES
1. What are the opening hours and cut-off times in Central Standard Time for
initiating wire transfers to ensure same-day execution? List by type of transfer
and method of communication.
2. What is the cut-off for incoming domestic wire transfers to receive same day
credit?
CONFIRMATION
1. When and how can a wire transfer be canceled after the company releases it to
the system? What is the latest time in the day to cancel? Is there a charge for
cancellation?
2. How does the customer track the status of transfers once the transfer is in the
system (input, approved, released)?
3. What is the financial institution's policy in the event of a wire transfer failure for
which receipt of instructions has been confirmed to the customer?
4. How and when is the customer notified of a failed wire transfer?
SECURITY
1. What levels and types of security safeguards exist when initiating and releasing
wires for each method below? Describe.
a. Voice
Ciry of Dubuque Page 14 of 23
City of Dubuque
Request for Proposal
Section Vl: Wire Transfers
SECURITY (continued)
b. Touch tone phone
c. Fax
d. PC
2. How is the customer's access to the financial institution's wire transfer systems
controlled?
3. Are PC transmissions to the financial institution encrypted or authenticated? At
what level and on what fields? Describe procedures in the event a violated
transmission arrives at the financial institution.
Ciry of Dubuque Page 1 S of 23
City of Dubuque
Request for Proposal
Section Vll: Financial Institution Services Bid Form
A. BASIC DEPOSITORY SERVICES
Service Description: Estimated
Monthly Volume Charge
Per Item Monthly
Charge
Account Maintenance Fee ------
Ledger Debits 1,300
Ledger Credits 400
Checks-On Us 1,600
Checks-Dubuque Clearings 8,700
Checks-Des Moines RCPC 4,800
Checks-Federal Reserve 1,000
Incoming Wires 2
Outgoing Wires 2
ACH Item or Flat Fee ------
Return Deposit Items 5
Redeposit Item Fee 15
Stop Payment ------
Interest Rate on Balance ------
Courier Service -City Hall ------
Average Daily Balance 2,000,000
Deposit Ticket Printing Fees ------
B. AUTOMATED CLEARING HOUSE SERVICES
Service Descri tion Charge
Per Item
Account maintenance
ACH Cr. Led er credits
ACH Dr. Led er debits
Initiate ACH debit/credit, 24 hour-on us
Initiate ACH debit/credit, 24 hour-local/Iowa
Initiate ACH debit/credit 24 hour-transit/out of state
Initiate ACH debit/credit, 48 hour-on us
Initiate ACH debit/credit, 48 hour-local/Iowa
Initiate ACH debit/credit, 48 hour-transit/out of state
ACH return
ACH re-note
ACH notification of chan e
Ciry of Dubuque Page 16 of 23
City of Dubuque
Request for Proposal
Section Vll: Financial Institution Services Bid Form
C. DISBURSEMENTS
Service Descri tion Charge
Per Item
Pa er Disbursement Services:
Account maintenance
Zero balance maintenance
Checks aid
Sto a ment
Pa er Disb. Reconciliation Services:
Partial reconciliation maintenance
Partial reconciliation per item
Reconciliation transmission
Positive Pa
Maintenance
Per item
Transmission fee
Information Services:
Balance & detail reporting current day
D. WIRE SERVICES
Service Descri tion Char a Per Item
Wire transfer in
Wire noti mail
Wire noti hone
Wire out non-re etitive
Wire out re etitive
E. COIN COUNT (Parking Department)
Char a Per De osit
$500,000 er ear, 14 individual de osits er week
City of Dubuque Page 17 of 23
City of Dubuque
Request for Proposal
Section Vll: Financial Institution Services Bid Form
F. Online (Internet Banking)
User Fees Char a Per Item
Per Account
Per User
Monthl Access
G. OTHER
Please list any other charges the City will incur as a result of your financial
institution services.
City of Dubuque Page 18 of 23
City of Dubuque
Sample Month Data to Compute Interest Earnings
Week Day Day of Month Daily Collected Balance
Beginning: $ 2,600,000
Monday 1 2,500,000
Tuesday 2 2,300,000
Wednesday 3 2,200,000
Thursday 4 1,800,000
Friday 5 2,200,000
Saturday 6 2,200,000
Sunday 7 2,200,000
Monday 8 1,600,000
Tuesday 9 1,500,000
Wednesday 10 2,100,000
Thursday 11 2,300,000
Friday 12 1,700,000
Saturday 13 1,700,000
Sunday 14 1,700,000
Monday 15 1,400,000
Tuesday 16 1,900,000
Wednesday 17 2,200,000
Thursday 18 1,800,000
Friday 19 1, 800, 000
Saturday 20 1,800,000
Sunday 21 1,800,000
Monday 22 2,300,000
Tuesday 23 2,400,000
Wednesday 24 2,100,000
Thursday 25 2,500,000
Friday 26 1, 800, 000
Saturday 27 1,800,000
Sunday 28 1,800,000
Monday 29 1,600,000
Tuesday 30 2,100,000
Wednesday 31 2,300,000
Total Interest earnings for month:
Assumes no change in Federal Funds rate during the month (use 5.25% as rate)
City of Dubuque Page 19 of 23
City of Dubuque
Sample Month Data to Compute ACH Transaction Fees
Description # Transactions Dollar amount
Utility Billing Payments to City Week 1 700 $ 23,000
Week 2 900 38,000
Week 3 1,200 44,000
Week 4 1,500 62,000
Health Insurance Payments to City One Transfer per Month 25 16,000
Parking Payments to City One Transfer per Month
Housing Rehab Loans Payments to City One Transfer per Month
Grants, State Warrants, Property Tax Eight Transfers per Month
Totals
Total ACH Transaction Fees for Month
100 6, 000
125 11,000
8 2,000,000
4,558 $ 2,200,000
City of Dubuque
Page 20 of 23
City of Dubuque
Sample Month Data to Compute Payroll Checking Account Fees and Interest
The City of Dubuque issues payroll biweekly on Fridays. Transfers will be made on the Thursdays prior to pay
dates from the general account.
Payroll 1
Total Gross Payroll
Total Employees
Employees with Direct Deposit
Employees with Pay Checks
Number of direct deposit transactions (limit of 3 per employee)
Number of financial institutions deposited to
Total Deposits
Total ACH Payments
Payroll 2
Total Gross Payroll
Total Employees
Employees with Direct Deposit
Employees with Pay Checks
Number of direct deposit transactions (limit of 3 per employee)
Number of financial institutions deposited to
Total Deposits
Total ACH Payments
Total Payroll Checking Account Fees for Month
Total Payroll Checking Account Interest for Month
(Assume $50,000 average collected balance)
1. Interest rate to compute earnings?
2. Are fees and interest earnings netted?
3. Is City billed for excess fees over earnings?
4. Does City receive excess earnings over fees?
Fees
$ 1,200,000
750
480
270
600
40
4
6
$ 1,300,000
825
525
300
625
40
4
6
City of Dubugue Page 21 of 23
City of Dubuque
Sample Month Data to Compute General Checking Account Fees
Account Maintenance
1300 Checks Cleared
275 Deposits
8 wire transfers out (acquire certificates of deposit and/or pay vendors)
Checks Cleared Report
Total General Checking Account Fees for Month
City of Dubuque Page 22 of 23
City of Dubuque Supplement A
Request for Proposal
Credit Cards
The City of Dubuque is requesting proposals relative to credit card services for a one
year commitment. Key information would be as follows:
If your financial institution is selected to provide financial services, what would be
the costs to the City to institute credit card services?
Pro'ections
Monthl Sales $5,000
Avera a Transaction $ 100
Electronic Card not Present 80%
Electronic Card Transaction 20%
Bundled Rate er Transaction
Detail all monthly fees and set up costs, equipment rental, etc. and any other
costs associated with implementing and administering program. This will be a
new service for our citizens. The City has no history to project credit card sales.
The primary areas offering service will be in utility billing and parking. The City
plans to pass on the cost plus a 1 % convenience fee to users.
2. If your financial institution is selected to provide financial services and provide
credit card services, would the fees or earnings in the basic RFP change?
Yes N o
If yes, please detail.
The City may opt not to utilize the financial services provider for credit cards.
City of Dubuque Page 23 of 23