Management Banking Services
| Agency: | City of Fernandina Beach |
|---|---|
| State: | Florida |
| Type of Government: | State & Local |
| NAICS Category: |
|
| Posted Date: | Feb 17, 2026 |
| Due Date: | Feb 27, 2026 |
| Solicitation No: | RFP 26-04 |
| Original Source: | Please Login to View Page |
| Contact information: | Please Login to View Page |
| Bid Documents: | Please Login to View Page |
| Bid Number: |
RFP 26-04
|
| Bid Title: |
Management Banking Services
|
| Category: | All Bids |
| Status: | Open |
|
Attachment Preview
CITY OF FERNANDINA BEACH, FLORIDA
REQUEST FOR PROPOSAL 26-04
MANAGEMENT BANKING SERVICES
GENERAL INFORMATION
The City of Fernandina Beach, Florida (City) is accepting competitive sealed proposals for
Management Banking Services from qualified financial institutions capable of providing
banking services best suited to the City.
The City of Fernandina Beach will receive sealed proposals from qualifying banks through
Demandstar.com (www.demandstar.com). Proposals must be uploaded to
Demandstar.com E-Bidding System prior to 10:00AM, February 27, 2026.
Hand-delivery, mailed, faxed or emailed submissions will not be accepted.
The City seeks to establish a banking relationship with a qualified financial institution for its
banking needs. The City is looking for a single bank to provide all the services outlined below
for the duration of the contract. The banking range of services includes collection and deposit,
cash concentration and disbursement (CCD), account maintenance, and overnight
investment services. Maintaining open and frequent two-way communication between the
successful bank and the City is essential. Both parties will establish services and service levels
through contract or written agreement, ensure receiving timely responses, establishing fair
pricing and compensation, and upholding the highest ethical standards.
Instructions, Exhibits A-H and Response Forms (Attachments A-D) to this Request for
Proposal are required as part of the submittal.
CONTACT
Specification questions during the proposal period shall be submitted in writing to Purchasing
Specialist, Wanda Weaks, wweaks@fbfl.org. Respondents are hereby put on notice that
no contact shall be made with any of the City Commission members, City Manager other
City staff, or others that may be involved in the selection process to discuss this request
or to influence the outcome of the selection.
Responses to questions considered material to the solicitation shall be distributed via formal
addenda and posted to the City of Fernandina Beach’s website; www.fbfl.us/bids, Bid Posting
web page and to DemandStar website www.demandstar.com. It is the Responder’s
responsibility to check the City’s website for Addenda prior to submitting their proposal.
Any interpretations, clarifications, or changes will be made in the form of written addenda issued
by the Purchasing Specialist and posted on the City Website at www.fbfl.us/bids and to
DemandStar website at www.demandstar.com. Any oral communications will not be
authoritative and will not be binding on the City. It is the sole responsibility of the proposer to
visit the City’s website prior to submitting a proposal to ascertain if any addenda have been
issued, to obtain all such addenda, and to return Acknowledged Addenda with each proposal.
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CITY OF FERNANDINA BEACH, FLORIDA
REQUEST FOR PROPOSAL 26-04
MANAGEMENT BANKING SERVICES
If there is an Addendum it becomes part of the original RFP and shall be acknowledged by
attaching a copy of the Addendum, signed by an authorized representative of the person or
company submitting the proposal. Failure to do so may disqualify the submittal. All Responders
are advised that under Chapter 119, Florida Statutes, all responses are deemed a public record
and open to the public as provided for in said statute.
CONTRACT PERIOD
All services shall be provided for a five-year period, with two one-year renewals by mutual
agreement with negotiated changes, for a total potential contract length of seven years. If
the selected bank shall not be the current provider of banking services, FIRST FEDERAL BANK,
then the selected bank shall begin transition, conversion and implementation operations no later
than April 06, 2026 to be fully operational by May 11, 2026. A proposing bank other than FIRST
FEDERAL BANK shall submit its implementation schedule as part of its response.
BANK QUALIFICATIONS
1. Qualified Public Depository:
Only banks meeting the criteria set forth in Chapter 280, Florida Statutes, and the Florida
Security for Public Deposits Act (Act) shall be considered. The selected bank must be a
qualified public depository as set forth in the Act at the time of proposal and maintain this
status throughout the life of the contract. A proposing bank shall provide evidence of its
status as a qualified public depository.
2. Bank Financial Strength:
A proposing bank shall provide evidence of its strength by showing its rank with the
Federal Reserve Board and the amount of consolidated assets, submit audited financial
statements for the past two years and provide a printout from Bankrate.com, or an equivalent
rating agency.
3. Bank Location:
The bank must have a full-service branch located within Nassau County, FL.
4. Relationship Manager, City Representative:
A proposing bank shall provide the names, contact info, and functions of the Relationship
Managers. The City shall have the right to meet with this proposed Relationship Manager
at the Principal Contact Office and to approve the person so designated or their successor
liaison. Should the City object to the person so designated, the bank will replace them with
a qualified person, acceptable to the City, forthwith. The City Comptroller will identify one
or more persons in the Finance Department office to represent the City.
5. Designated Account Executive:
The City requests that the Respondent provide the name of a designated account
executive, as well as an alternate. The designated account executive must have the
authority to make timely decisions in the normal course of business and serve as the point
of contact and liaison between the City and other people within the bank.
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CITY OF FERNANDINA BEACH, FLORIDA
REQUEST FOR PROPOSAL 26-04
MANAGEMENT BANKING SERVICES
6. Continuous Services:
The bank will have and maintain sufficient staff to support these requirements on a
continuing basis without interruption of services. Repeated disruptions to services,
regardless of the reason, will be just cause for cancellation of the Agreement by the City.
The Relationship Manager will act as a liaison with the City, at no cost, for matters
regarding the City’s accounts.
CONTRACT STRUCTURE
The City expects to enter into a Master Banking Services agreement. The City expects the master
agreement to be supplemented by other agreements including but not limited to wire transfer,
positive pay services, stop payment, ACH, lock box, remote deposit, electronic banking
agreements, and courier service. The selected bank's proposal shall become an integral part of
the master agreement.
SCOPE OF SERIVCES
Account Structure:
1. The City currently maintains nine accounts. The City anticipates depositing a minimum of
$8million and a maximum of $10million. The account balance is projected to fluctuate by up
to $4million during the month. No minimum balance requirement above $4million will be
accepted. The City requires the same structure currently in place and described below. The
Comptroller may open new accounts or close existing accounts to facilitate the efficient and
legally required flow of funds at the costs, terms and conditions to be contracted.
Collection and Deposit Accounts:
1. General Fund: This account receives most of the general government revenues of the City.
Deposits may be in the form of cash, checks, credit and debit card, Fedwire, ACH and
book transfers. Disbursements are generally check and EFT. This account should be set
up to sweep overnight balances.
2. Payroll: Bi-weekly, Friday payroll direct deposit disbursements are charged to this account.
This is a Zero Balance Account (ZBA) in which the money used to cover the payroll is drafted
from the General Fund Account. Currently, the Payroll Department processes approximately
325 direct deposit transactions bi-weekly.
3. Cemetery: This is NOT a ZBA account. This is an account established for restricted
purposes. It is a checking account with a minimal number of transactions each year.
4. FSA: This is a Zero Balance Account (ZBA) set up to track the payments for our Flexible
Spending Program offered to employees.
5. AP Solutions: This is a Zero Balance Account (ZBA) used to pay vendors via check and ACH.
6. Golf: This is a Zero Balance Account (ZBA) used for Golf Operations and includes deposits
via cash, check, ACH, wire transfer, vendor debit for purchases and credit card processing.
7. Marina: This account is NOT a ZBA account. This account is used for Marina Operations
and includes deposits via cash, check, e-check, credit cards, vendor payments via auto pay
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CITY OF FERNANDINA BEACH, FLORIDA
REQUEST FOR PROPOSAL 26-04
MANAGEMENT BANKING SERVICES
and Bill.com.
8. E-bay: This account is NOT a ZBA account. This account maintains a minimum account
balance established for unusual or infrequent purchases or online auction transactions.
9. Fire – Ambulance: This account is NOT a ZBA account. The City’s Emergency Services
billing provider uses this account. It includes a lock box.
COLLECTION AND DEPOSIT SERVICES
Courier Service:
The City uses a courier service for deposits, 5 days per week, provided by the current provider at
no extra cost to the City. The courier must be able to collect and deliver change orders. A proposing
bank should include the cost of such service in their proposal on the Proforma Account Analysis
Response Form – Attachment C. The specific locations for courier pickup include at least 7
different locations within the City; City Hall (2 Desks), Marina, Utility Billing, Parks & Recreation,
Finance, Golf and Police. If alternate deposit methods are offered, proposers must state whether
or not courier service is available and provide a solution for change orders.
Deposit Deadline/Ledger Cutoff Time:
A proposing bank shall provide deposit deadline schedules for each of its branches that will
service the City.
ACH, EFT’s, and Wire Transfers Incoming:
The RFP should include a wire transfer agreement. The agreement shall reflect that the selected
bank agrees to the standard of 'simple negligence'. The City receives receipts through the ACH,
EFT’s, and Fedwire systems in its accounts on a regular basis. Receipts are received from
payment card settlements, various customers, federal and state agencies, and from maturing
investments. A proposing bank shall report ACH payment messages on the bank statements. The
bank shall be capable of reporting ACH payment, EFT, and Fedwire messages in total on its web-
based banking system. The bank shall report transaction confirmation numbers on its web-based
banking system. The bank shall provide book transfer capability on its web -based banking
system to transfer money between accounts at the bank.
ACH Debit Block:
The bank must be able to provide ACH Debit Block service to prevent unauthorized persons or
companies from electronically debiting out bank accounts.
Returned Items:
All returned items shall be automatically redeposited a second time. Items returned a second
time shall be forwarded to the Finance Department.
Overdraft Account Remediation:
It is not the intention of the City to overdraw any accounts. In the event of an overdraft, all
checks presented for payment shall be paid. The City Comptroller or designee shall confirm
wires or ACH transfers that will remedy such overdraft. The bank shall complete the wire/ACH
transfer after confirmation. Any service fee to be charged to the City for overdrafts shall be
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CITY OF FERNANDINA BEACH, FLORIDA
REQUEST FOR PROPOSAL 26-04
MANAGEMENT BANKING SERVICES
provided on the Pro Forma Account Analysis Response Form, Attachment C and the
instrument shall be honored.
Deposit Reconciliation:
Only banks with the capability of providing deposit reconciliation services on a web-based
banking system shall be considered. Each deposit ticket shall bear the department name and
number.
Lock Box:
Proposals should include a Lock Box agreement. The City currently utilizes this feature to
process payments for EMS billings.
Remote Deposit:
Proposals should include an Express Deposit agreement. Several of the City
departments/locations currently use this service.
DISBURSEMENT SERVICES
Positive Pay Services:
As additional fraud protection over the City’s checks, the City desires to negotiate a positive pay
services agreement with a no-pay default option. The agreement shall reflect that the selected
bank’s positive pay system be implemented at its teller lines. The bank shall report discrepancies
electronically through its web-based banking system. The City shall provide an affirmative or
negative response for each ‘exception check’.
Check Reconciliation:
Only banks with the capability of providing partial and full check reconciliation services on a web-
based banking system shall be considered. Check reconciliation services may be part of a proposing
bank’s positive pay service.
Stop Payment and Date Legend:
The RFP should include a stop payment agreement. The agreement shall reflect a lifetime stop
payment order.
The City shall imprint its checks with the following date legend, “This check must be cashed within
180 days pursuant to the Uniform Commercial Code”, or other similar language agreed to by the
City and selected bank. The stop payment agreement shall reflect the bank agrees to the
standard of ‘reasonable care’ in honoring date legended checks.
ACH and Wire Transfers Outgoing:
The RFP should include a wire transfer agreement. The agreement shall reflect that the selected
bank agrees to the standard of ‘simple negligence’. The City disburses vendor payments
electronically through ACH and wire transfers on a regular basis. Electronic payments are
made for payroll direct deposit, federal and state tax liabilities, debt service, purchases of
investment securities, and others. The bank shall memo-post ACH transfers immediately for
later settlement and execute wire transfers within 15 minutes after placement. The bank shall
promptly notify, by telephone, the Comptroller’s designated contact of any wire failures. The bank
shall report ACH payment messages on the bank statements. The bank shall be capable of
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This page summarizes the opportunity, including an overview and a preview of the attached documents.
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