Banking RFP & Transition Process NCLGIA Summer 2016 Conference

Slides:



Advertisements
Similar presentations
CitiBank Travel Card Program March CitiBank Travel Card Program State of Texas Comptroller has awarded a contract for Procurement and Corporate.
Advertisements

Implementation of the new State-wide Financial System (SFS) required all agencies to implement changes to the Travel Card Program. o OGS is requiring.
MN ENA STATE COUNCIL TREASURER Role and Responsibilities.
Course: e-Governance Project Lifecycle Day 1
1 Introduction General Accounting is responsible for managing the University’s general ledger accounting system. The General Accounting office’s main goal.
1 University of Tennessee Finance Business Blueprint 1.
A simple, lower cost Financial Management solution for your Association.
Cash Management WV State Treasurer’s Office. Cash Management and Cash Handling Spending Unit –State Cash Collection Site Cash –Not just and Coins Currency.
RFPs: Best Practices Presented by: Patrick Pearson, Government Banking David Bass, Consultant.
1 Conference Call December 7 th h 30 Agenda 1.Concerns on wording and inclusion of glossary of terms; 2.Issues: 3.Scope of RFP equipment required;
Tom Torlakson State Superintendent of Public Instruction 1 CALNET 2.
Presented by Department of Finance Purchasing Division Cecelia H. Stowe, CPPO, C.P.M., Purchasing Director Eileen M. Falcone, Senior Buyer.
MASBO Workshop October 23, 2008 Beth Sullivan, Budget Analyst/MIS Supervisor Rosemount-Apple Valley-Eagan Sara Larsen, Assistant Vice President Associated.
Financial Controls Presentation to the Evanston Public Library Board June 19, 2013.
MODULE 8 MONITORING INDIANA HPRP Training 1. Role of Independent Financial Monitors 2 IHCDA is retaining an independent accounting firm to monitor its.
UNC Charlotte Purchasing Card Training for Auditor Role Annette Heller.
© 2012 Financial Operations Networks LLC Pay Card Practices: A Powerful Alternative for AP Operations.
How to Develop an Accounting Policies & Procedures Manual 50th Annual LASBO Spring Conference.
VAN CARTER SENIOR VICE PRESIDENT PUBLIC FINANCE SALES MANAGER APRIL 22, 2015 Depository Contracts: Key Aspects for the RFP Process and other Fun Activities.
Proposal Training.  What is Budgeting by Priorities?  How do I participate?  How do I write my proposals? ◦ Narrative Requirements ◦ Mechanics.
WELCOME TO THE PROCUREMENT SEMINAR Procurement and Contracts An Overview of Contract Administration.
P-Cards for Schools: NOW more than EVER. We are all so busy doing our jobs we don’t take the time to think about what our job is and what it is becoming.
Scotland’s Environment Web LIFE Project LIFE10 ENV-UK Paula Brown Senior Project Manager – SEPA.
ENA Chapter Treasurer DUTIES AND RESPONSIBILITIES.
State of Oklahoma Information Services Division Contracts and Purchasing Unit 1.
Office of State Courts Administrator Susan Shields & Tammy Rex.
Affiliate Finance: ACNM Webinar Lorrie K. Kaplan, CAE ACNM Executive Director George Hamilton ACNM Director-Membership Meredith Graham, MBA ACNM Director-Finance.
A SOUND INVESTMENT IN SUCCESSFUL VR OUTCOMES FINANCIAL MANAGEMENT FINANCIAL MANAGEMENT.
 Advances & Clear Advances  Foreign Vendors  Manual POs  Wire Transfers.
Expand Electronic Payment to Increase Revenues Cheryl Shanaberger, MPA, CPPO Deputy Director Office of Management and Budget City of Port St Lucie March.
SA Government Banking Transition Courts Administration Authority - Experience and Learning's Presented by – Kym Beckman 18 th September 2013.
Use of Procurement Cards - Including Control and Auditing PASBO Conference March 9, 2006 Presented by: Daniel R. McConachie
LEAGUE OF CITIES & COUNTY GROUPS ProcureAZ The State of Arizona’s eProcurement & Sourcing Solution For Public Entities Statewide 1.
UW Procurement Services Updates Monthly Research Administrator’s Presentation May 8,
Brentwood of Palatine Condominium Board Meeting Treasurer’s Report – Cash Position – Scorecard – Expense Contributions – Delinquencies – Remaining.
Overview of Grant Agreements - Agreement Process - Roadmap to the Agreement Document - Agreement Requirements/ Compliance Issues - Timelines for Reporting.
Illuminating Britelite’s Internal Services for Success Strategy for Process Improvement.
2016 Filing a Form 470 For C1 Using ITS as the Secondary Billed Entity Step-by-Step for Creating and Submitting your 470 Application in the EPC Portal.
Cash Reconciliations and Cash Handling WASBO Accounting Conference March, 2016.
Purchasing Cards. What is a Purchasing Card? It is a type of commercial credit card, used by organizations for payment of goods and services. This tool.
Ghost Credit Cards in eProcurement Jeremy Williams NC State University Technology Support Analyst Purchasing Department.
Welcome. Contents: 1.Organization’s Policies & Procedure 2.Internal Controls 3.Manager’s Financial Role 4.Procurement Process 5.Monthly Financial Report.
USDA 2016 Financial Management Training Transforming Shared Services Agreements-Tools for Better Business Presented by Shelda T. Melancon, CPA, CGFM –
Cash Management and Banking Relationships Nicole Hackmann Director of Banking Office of Missouri State Treasurer, Clint Zweifel.
1 HIPAA’s Impact on Depository Financial Institutions 2 nd National Medical Banking Institute Rick Morrison, CEO Remettra, Inc.
Contract Basics For Utah State Agencies Prepared by:
Role of LAF in projects with new implementation modalities
Dynamics GP – You Own It … Why Not Use It? eBanking November 29, 2016
Cowlitz County, WA Accounting Function Review
Latest Developments and Impact on the Financial Sector
2017 Filing a Form 470 For Voice Step-by-Step for Creating and Submitting Your 470 Application in Your EPC Portal.
Policy & Process November 29 & 30, 2016 Lori Donavant and Joe Croom
Today’s Topics DHS Audit Guide Financial Management Manual
Procurement Policy & Procedures Presented by Office of Purchasing.
Division Finances: Aligning Resources with Goals
Travel Authorization -step by step-
Request for Proposals For Banking Services CMU
MINISTRY OF FINANCE OF THE REPUBLIC OF MOLDOVA
PeopleSoft (PS) Budget Orientation
HOME Underwriting and Subsidy Layering Training
James SHANNON RA44 – BUD 15 Sept 2010
Procurement Policy & Procedures Presented by Office of Purchasing.
Here at Investors Title and National Investors Title, we are committed to the success of our customers and business partners. Our goal is to help you build.
PHCC-National Association
Budget Prep FY2019 Lessons Learned and Future Enhancements
Tools to Expand Card Programs!
Process Overview for Service Providers
SHARE Special Project Cash Remediation Phase II Planning and Implementation Certification July 22, 2015 Requesting Agency: Ron Spilman State Controller.
PUBLIC SCHOOL FINANCE UPDATE November, 2011
Bonnie Fitzpatrick - Kaliszewski SSV Treasury Management
Presentation transcript:

Banking RFP & Transition Process NCLGIA Summer 2016 Conference www.wakegov.com

Agenda for Presentation Why was a Request for Proposal (RFP) necessary? How did we develop our document? We have a Winner! Now what? What were our outcomes? www.wakegov.com

Why did we need to do RFP? County competition policy; Increasing banking costs; and Budget cuts from recession. www.wakegov.com

RFP Document Development Our priorities: Technology, Services and THEN Price. Capture all available automation for efficiency. RFP for initial 5 year award, with two additional 5 year renewals if both parties agree. Possible 15 year contract. WCPSS combined with Wake in RFP process. RFP issued in January 2012 with March 8 responses for June 2013 go live date. www.wakegov.com

Services Covered in Banking RFP Core Banking Services - including investment safekeeping and integrated payables disbursements; Lockbox and E-box Services; and Procurement Card Services. Banks could choose to bid on one or more requested services. www.wakegov.com

Attachments included with RFP Excel - Cost Proposal (Form presented separately on website.) Excel – Jurisdiction Locations (Form presented separately on website.) Current Service Providers for Each Service Current Data Transmission File Formats Wake County Deposit Ticket - Example www.wakegov.com

Bank Evaluation by Priority Financial stability of bank. Robust technical tools to help us work efficiently. Ability to comply with requirements for services listed in RFP. Costs of services. References with entities of similar complexity. Evaluation team composed of Wake and WCPSS Finance and Info Services staff. www.wakegov.com

Award Time! Three Different Vendors Core banking – Technical needs were a limitation for Wake. Strength of online banking system was critical for us. Lockbox and E-box – Related solely to property tax collections. Cost was primary driving factor after technical needs and reporting ability verified. Procurement card – Cost (rebate) was primary driving award factor after technology needs met. Awarded to incumbent. www.wakegov.com

Implementation Plan – Core Banking First, online banking system setup and configuration for County users and for EFT and ACH wire transfers templates. Then, implementing changes in three major phases over 18 months: Clean up outdated wire/ACH templates from former online banking system and inactive users. Check setup, design and writing, positive pay, and bank reconciliation processes. Deposit processes with departmental reporting and training. EFT and Wire deposits, we used report from former bank to contact users with our updated banking information. Identify all bank reports or downloads used to make sure there is comparable information in the new system. www.wakegov.com

Core Banking - Continued Dual banking fees over the two year timeframe to allow for cleared checks and final escheats process. LOTS of work!! Don’t underestimate the cost and staff time involved to change core banking. www.wakegov.com

What Tripped Us Up Controlled Disbursement Account Confusion – Identify clearly how you use current bank accounts and related reports needed. Deposit Tickets – Had to reorder several times. Unique codes missing and MICR problems with reading unique #s. Reordered with new revised accounts. Monitor Analysis Statements – Make sure contracted prices are being charged correctly. www.wakegov.com

Implementation Plan – Lockbox/Ebox Different bank selected from core banking. Benefit of using separate bank offset any costs of wiring funds periodically. Implemented with timing of real property tax billing in July 2013. Two lockbox accounts and dual fees. www.wakegov.com

Outcomes Current bank provides robust technical tools we needed. Total bank operating costs lower after implementation. No changes to safekeeping account. 2017 RFP planned. www.wakegov.com

Questions? www.wakegov.com