STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: September 11, 2024
COUNCIL DISTRICT(S): All
DEPARTMENT: Office of Procurement Services
EXECUTIVE: Donzell Gipson
______________________________________________________________________
SUBJECT
Title
Authorize a five-year service contract, with two one-year renewal options, for banking depository services for the City Controller’s Office and Water Utilities Department - JPMorgan Chase Bank, N.A., most advantageous proposer of seven - Not to exceed $1,596,992.11 - Financing: General Fund ($1,277,593.69) and Dallas Water Utilities Fund ($319,398.42) (subject to annual appropriations)
Body
BACKGROUND
This action does not encumber funds; the purpose of a service contract is to establish firm pricing for services, for a specific term, which are ordered on an as needed basis.
This service contract will provide for banking depository services for the City Controller’s Office and Water Utilities Department. This service contract will provide banking services in accordance with the Texas Local Government Code, Chapter 105, and the City's Charter. The selected financial institution shall securely keep all public moneys and investments belonging to the City and provide banking products to properly receive funds, and to make payments.
The core banking contract with the selected financial institution will provide the following services:
• deposits
• disbursements
• information reporting
• account reconciliation
• collateral
• securities safekeeping,
• lockbox services
The recommended bank must comply with the City's Responsible Banking Ordinance, and all legal terms and conditions detailed in the Request for Proposal.
A five-member committee from the following departments reviewed and evaluated the qualifications:
• City Controller's Office (1)
• Department of Code Compliance (1)
• Department of Transportation (1)
• Water Utilities Department (1)
• Office of Procurement Services (1)*
*The Office of Procurement Services evaluated cost and local preference, if applicable.
The committee selected the successful respondents on the basis of demonstrated competence and qualifications under the following criteria:
• Experience 35 points
• Approach 35 points
• Cost and timeframe 30 points
As part of the solicitation process and in an effort to increase competition, the Office of Procurement Services used its procurement system to send out email notifications to vendors registered under relevant commodity codes. To further increase competition, the Office of Procurement Services uses historical solicitation information, the Internet, and vendor contact information obtained from user departments to contact additional vendors.
On November 10, 2015, the City Council authorized a living wage policy that requires contractors to pay their employees a “living wage” rate as established annually by the Massachusetts Institute of Technology Living Wage Calculator for Dallas County by Resolution No. 15-2141. The calculated living wage during the solicitation process of this contract is $18.24; the selected vendor meets this requirement.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On December 11, 2019, the City Council authorized a five-year service contract for bank depository services with Bank of America, N.A. through an Interlocal Agreement with Dallas County, Texas by Resolution No. 19-1913.
FISCAL INFORMATION
|
Fund |
FY 2024 |
FY 2025 |
Future Years |
|
General Fund |
$0.00 |
$0.00 |
$1,277,593.69 |
|
Dallas Water Utilities Fund |
$0.00 |
$0.00 |
$ 319,398.42 |
|
Total |
$0.00 |
$0.00 |
$1,596,992.11 |
M/WBE INFORMATION
In accordance with the City’s Business Inclusion and Development Policy adopted on September 23, 2020, by Resolution No. 20-1430, as amended, the M/WBE participation on this contract is as follows:
|
Contract Amount |
Procurement Category |
M/WBE Goal |
|
$1,596,992.11 |
Other Services |
N/A |
|
M/WBE Subcontracting % |
M/WBE Overall % |
M/WBE Overall Participation $ |
|
N/A |
N/A |
N/A |
|
• This contract does not meet the M/WBE subcontracting goal. |
|
• JPMorgan Chase Bank - Local; Workforce - 1.21% Local |
PROCUREMENT INFORMATION
Method of Evaluation for Award Type:
|
Request for |
• Utilized for professional, personal, revenue, and planning services |
|
Proposal |
• Recommended offeror is the responsible offeror whose proposal most closely meets established criteria for the services advertised, based on demonstrated competence and qualifications at a fair and reasonable price |
|
|
• Always involves the evaluation by committee |
|
|
• Allows for negotiation on contract terms, including price |
The Office of Procurement Services received the following proposals from solicitation number BLZ-2024-00023829. We opened them on February 23, 2024. We recommend the City Council award this service contract in its entirety to the most advantageous proposer.
*Denotes successful proposer
Proposers Address Score
*JPMorgan Chase 1900 North Akard Street 93.38
Bank, N.A. Floor 3
Dallas, TX 75201
Wells Fargo 1445 Ross Avenue 80.75
Dallas, TX 75202
U.S. Bank National 13737 Noel Road 77.38
Association Suite 800
Dallas, TX 75240
Bank of America 901 Main Street 75.38
Dallas, TX 75202
Commerce Bank 200 Crescent Court Non-responsive
Suite 1350
Dallas, TX 75201
PNC The Tower at PNC Plaza Non-responsive
300 Fifth Avenue
Pittsburgh, PA 15222
Texas Regional 5644 Lyndon B. Johnson Freeway Non-responsive
Dallas, TX 75240
OWNER
JPMorgan Chase Bank, N.A.
Beth Dotson, Authorized Officer