Fayette County Public Schools Sealed Solicitation
Title: Primary Depository & Investment Banking Services
Deadline: 2/28/2025 2:00 PM (UTC-05:00) Eastern Time (US & Canada)
Status: Awarded
Solicitation Number: 13-25
Description:
1. The Fayette County Board of Education is seeking proposals from highly qualified and capable depository banks. The successful depository bank will be expected to possess and meet the attributes identified by the board and stakeholders of the Fayette County Public Schools as indicated in this Request For Proposal (RFP). Depositories should possess a demonstrated track record of success in providing these services. The successful depository will work closely with the FCBE to match expectations and the scope for depository services as indicated in this RFP. FCBE has an annual budget in excess of $650 million and is dedicated to protecting the revenues and expenditures of the school district so that all kids will have the necessary resources to be college and career ready.
Documents:
| Documents as of 2/3/2025 |
|---|
| RFP_13_25_Primary_Depository_Investment_Banking_Services.pdf |
Addition 1
Posted: 4/29/2025
Type of Addition: Award Information
Overview: Awarded to Fifth Third Bank
Documents:
Question 1
Posted: 2/5/2025
Question: Are banks allowed to bid on just the procurement card piece or do we have to submit a bid for all of the banking?
Response: Banks cannot submit a proposal for only the procurement card piece. Banks must submit for the entire bid services with the understanding as written in the bid that Procurement Card services may or may not change from the current vendor over it.
Question 2
Posted: 2/5/2025
Question: For the procurement card section, under additional options, can FCPS provide the number of cards issued and the total annual spend that is used for the program? Does FCPS use the card program for any vendor spend and or accounts payable payments?
Response: Currently approximately 138 cards. With approximate annual spend $30 million.
Question 3
Posted: 2/6/2025
Question: Are the individual school accounts activity including monthly maintenance fee, deposited cash, and EDM Monthly service fees? If not, now many depository accounts and scanners are utilized by the FCPS main office?
Response: Are the individual school accounts activity including monthly maintenance fee, deposited cash, and EDM Monthly service fees? • No, the SAF accounts does not have any monthly maintenance fees or EDM monthly service fees. • Yes, the SAF accounts include deposited cash. Cash is deposited by the schools each they receive at least $100 in cash. If not, now many depository accounts and scanners are utilized by the FCPS main office? • Currently, there are 66 depository bank accounts for SAF. • We do not have any bank scanners for the SAF accounts at the main office; however, it is something we should consider.
Question 4
Posted: 2/11/2025
Question: RFP 13-25 Primary Depository & Investment Banking Services, Page 34, Format & Submission of Proposals, item #3, third bullet point “Response to each item listed in Mandatory Proposal Content,” can the Board please confirm what section or pages are considered the “Mandatory Proposal Content.”
Response: Mandatory Proposal Content includes anything in the solicitation that needs to be filled out. This includes pages 1,2, 14, 22-27, 38,39.
Question 5
Posted: 2/11/2025
Question: RFP 13-25 Primary Depository & Investment Banking Services, Page 16, #6. RFP Submittal, can the Board please confirm if submitting our proposal via the Vendor Registry online portal, does the hand delivery of the Quote Form in an enclosed envelope still apply?
Response: Proposal can be submitted through Vendor Registry or in a sealed envelope. Submission does not have to be both.
Question 6
Posted: 2/11/2025
Question: Per RFP 13-25 Primary Depository & Investment Banking Services, Page 34, Format & Submission of Proposals #3, fourth bullet point “Addenda – Each individual Addendum must be printed, signed and inserted immediately following the Table of Contents (including cost schedule form, Supplier Diversity Program Forms, Pledge of Non-Discrimination, Required Affidavit For Bidders, Offerors and Contractors Claiming Resident Bidder Status-if applicable),” can the Board please confirm what is required for the Supplier Diversity Program Forms?
Response: Supplier Diversity Forms are not required for this solicitation.
Question 7
Posted: 2/13/2025
Question: Please provide clarification on page 14, Question #5 "If not Kentucky, does the state have preferential treatment on bids and RFPs, Yes/No. If yes, what percentage?" Please define the preferential treatment guidelines.
Response: Preferential treatment is given only if the home state of the vendor gives preferential treatment to vendors. If this is the case the the same treatment will be given to Kentucky Residents.
Question 8
Posted: 2/13/2025
Question: Page 17, Credit (Procurement) Cards: Do you currently utilize a virtual card for vendor payments? If so, how many vendors are paid via virtual card and what is the total monthly dollar amount of these payments?
Response: Page 17, Credit (Procurement) Cards: Do you currently utilize a virtual card for vendor payments? Yes If so, how many vendors are paid via virtual card and what is the total monthly dollar amount of these payments? Our program is aggressive in pursuing vendors to utilize virtual payments as the preferred method of payment when allowable. Accounts Payable currently has 3,799 vendors set up on EFT. Total monthly amount is about $750K to $1.5 million but it could fluctuate higher or lower depending on the time of the year.
Question 9
Posted: 2/13/2025
Question: Page 17, Credit (Procurement) Cards: What is the annual spend for the last year 2024 for your Procurement card?
Response: Approximately $30 million
Question 10
Posted: 2/13/2025
Question: Page 17, Credit (Procurement) Cards: How many procurement cards do you currently have issued?
Response: 158 currently
Question 11
Posted: 2/13/2025
Question: Page 17, Statements: It is stated that you would like monthly paper and electronic statements. Do you currently receive monthly paper statements for all accounts via USPS or overnight courier?
Response: Yes
Question 12
Posted: 2/13/2025
Question: Page 17, Electronic Banking: For the international electronic transfers mentioned, will these be via wire or ACH and abroad to other countries outside of Canada?
Response: Yes potentially
Question 13
Posted: 2/13/2025
Question: Page 17, Electronic Banking: What types of payments are being made via international electronic transfers and who are these payments being made to (i.e. individuals, companies, organizations)? What are the frequency of these payments?
Response: Page 17, Electronic Banking: What types of payments are being made via international electronic transfers and who are these payments being made to (i.e. individuals, companies, organizations)? Companies, hotels and organizations usually related to professional development or recruitment of teachers. What are the frequency of these payments? Very rare less than 5 a year.
Question 14
Posted: 2/13/2025
Question: Page 24, Collateral: Please clarify expectations for pledge of collateral for uninsured balances. Penal Sum is included in the RFP and Title 702 KAR 3:090 stipulates that pledged collateral must have an aggregate current fact value of current quoted market value at least equal to the local board of education deposits on the last business day of each quarter.
Response: Respondents must follow the state regulation.
Question 15
Posted: 2/13/2025
Question: Page 24, Collateral: KRS 41.240 permits the use of Federal Home Loan Bank Letters of Credit to support uninsured balances. RFP 14-25 for School Activity Fund Banking Services indicates Letters of Credit are permissible. Is this permitted for balances that are not insured by FDIC for RFP 13-25 for Primary Depository and Investment Banking Services?
Response: Yes up to $250k
Question 16
Posted: 2/14/2025
Question: Page 17, Credit (Procurement) Cards: What is the rebate percentage that received during the last rebate year?
Response: Its based off of the combined members across the state in the program consortium, Thus the level can change annually but it was approximately 1.45%.
Question 17
Posted: 2/14/2025
Question: Page 17, Credit (Procurement) Cards: How often is the rebate received for card spend? (quarterly, annually, etc)
Response: Annually Please note for procurement cards the RFP states: CREDIT (Procurement) CARDS—The primary depository shall issue credit (procurement) cards at the direction of the Superintendent, Executive Director of Financial Accounting and Benefits Services to be used for Board purposes. The credit limit for cards shall be established at a mutually agreeable amount. There shall be no fee for these cards. ***The board reserves the right to use another provider for these exclusive services if the board so desires without conflict to this RFP proposal.***
Posted: 4/29/2025
Type of Addition: Award Information
Overview: Awarded to Fifth Third Bank
Documents:
Posted: 2/5/2025
Question: Are banks allowed to bid on just the procurement card piece or do we have to submit a bid for all of the banking?
Response: Banks cannot submit a proposal for only the procurement card piece. Banks must submit for the entire bid services with the understanding as written in the bid that Procurement Card services may or may not change from the current vendor over it.
Posted: 2/5/2025
Question: For the procurement card section, under additional options, can FCPS provide the number of cards issued and the total annual spend that is used for the program? Does FCPS use the card program for any vendor spend and or accounts payable payments?
Response: Currently approximately 138 cards. With approximate annual spend $30 million.
Posted: 2/6/2025
Question: Are the individual school accounts activity including monthly maintenance fee, deposited cash, and EDM Monthly service fees? If not, now many depository accounts and scanners are utilized by the FCPS main office?
Response: Are the individual school accounts activity including monthly maintenance fee, deposited cash, and EDM Monthly service fees? • No, the SAF accounts does not have any monthly maintenance fees or EDM monthly service fees. • Yes, the SAF accounts include deposited cash. Cash is deposited by the schools each they receive at least $100 in cash. If not, now many depository accounts and scanners are utilized by the FCPS main office? • Currently, there are 66 depository bank accounts for SAF. • We do not have any bank scanners for the SAF accounts at the main office; however, it is something we should consider.
Posted: 2/11/2025
Question: RFP 13-25 Primary Depository & Investment Banking Services, Page 34, Format & Submission of Proposals, item #3, third bullet point “Response to each item listed in Mandatory Proposal Content,” can the Board please confirm what section or pages are considered the “Mandatory Proposal Content.”
Response: Mandatory Proposal Content includes anything in the solicitation that needs to be filled out. This includes pages 1,2, 14, 22-27, 38,39.
Posted: 2/11/2025
Question: RFP 13-25 Primary Depository & Investment Banking Services, Page 16, #6. RFP Submittal, can the Board please confirm if submitting our proposal via the Vendor Registry online portal, does the hand delivery of the Quote Form in an enclosed envelope still apply?
Response: Proposal can be submitted through Vendor Registry or in a sealed envelope. Submission does not have to be both.
Posted: 2/11/2025
Question: Per RFP 13-25 Primary Depository & Investment Banking Services, Page 34, Format & Submission of Proposals #3, fourth bullet point “Addenda – Each individual Addendum must be printed, signed and inserted immediately following the Table of Contents (including cost schedule form, Supplier Diversity Program Forms, Pledge of Non-Discrimination, Required Affidavit For Bidders, Offerors and Contractors Claiming Resident Bidder Status-if applicable),” can the Board please confirm what is required for the Supplier Diversity Program Forms?
Response: Supplier Diversity Forms are not required for this solicitation.
Posted: 2/13/2025
Question: Please provide clarification on page 14, Question #5 "If not Kentucky, does the state have preferential treatment on bids and RFPs, Yes/No. If yes, what percentage?" Please define the preferential treatment guidelines.
Response: Preferential treatment is given only if the home state of the vendor gives preferential treatment to vendors. If this is the case the the same treatment will be given to Kentucky Residents.
Posted: 2/13/2025
Question: Page 17, Credit (Procurement) Cards: Do you currently utilize a virtual card for vendor payments? If so, how many vendors are paid via virtual card and what is the total monthly dollar amount of these payments?
Response: Page 17, Credit (Procurement) Cards: Do you currently utilize a virtual card for vendor payments? Yes If so, how many vendors are paid via virtual card and what is the total monthly dollar amount of these payments? Our program is aggressive in pursuing vendors to utilize virtual payments as the preferred method of payment when allowable. Accounts Payable currently has 3,799 vendors set up on EFT. Total monthly amount is about $750K to $1.5 million but it could fluctuate higher or lower depending on the time of the year.
Posted: 2/13/2025
Question: Page 17, Credit (Procurement) Cards: What is the annual spend for the last year 2024 for your Procurement card?
Response: Approximately $30 million
Posted: 2/13/2025
Question: Page 17, Credit (Procurement) Cards: How many procurement cards do you currently have issued?
Response: 158 currently
Posted: 2/13/2025
Question: Page 17, Statements: It is stated that you would like monthly paper and electronic statements. Do you currently receive monthly paper statements for all accounts via USPS or overnight courier?
Response: Yes
Posted: 2/13/2025
Question: Page 17, Electronic Banking: For the international electronic transfers mentioned, will these be via wire or ACH and abroad to other countries outside of Canada?
Response: Yes potentially
Posted: 2/13/2025
Question: Page 17, Electronic Banking: What types of payments are being made via international electronic transfers and who are these payments being made to (i.e. individuals, companies, organizations)? What are the frequency of these payments?
Response: Page 17, Electronic Banking: What types of payments are being made via international electronic transfers and who are these payments being made to (i.e. individuals, companies, organizations)? Companies, hotels and organizations usually related to professional development or recruitment of teachers. What are the frequency of these payments? Very rare less than 5 a year.
Posted: 2/13/2025
Question: Page 24, Collateral: Please clarify expectations for pledge of collateral for uninsured balances. Penal Sum is included in the RFP and Title 702 KAR 3:090 stipulates that pledged collateral must have an aggregate current fact value of current quoted market value at least equal to the local board of education deposits on the last business day of each quarter.
Response: Respondents must follow the state regulation.
Posted: 2/13/2025
Question: Page 24, Collateral: KRS 41.240 permits the use of Federal Home Loan Bank Letters of Credit to support uninsured balances. RFP 14-25 for School Activity Fund Banking Services indicates Letters of Credit are permissible. Is this permitted for balances that are not insured by FDIC for RFP 13-25 for Primary Depository and Investment Banking Services?
Response: Yes up to $250k
Posted: 2/14/2025
Question: Page 17, Credit (Procurement) Cards: What is the rebate percentage that received during the last rebate year?
Response: Its based off of the combined members across the state in the program consortium, Thus the level can change annually but it was approximately 1.45%.
Posted: 2/14/2025
Question: Page 17, Credit (Procurement) Cards: How often is the rebate received for card spend? (quarterly, annually, etc)
Response: Annually Please note for procurement cards the RFP states: CREDIT (Procurement) CARDS—The primary depository shall issue credit (procurement) cards at the direction of the Superintendent, Executive Director of Financial Accounting and Benefits Services to be used for Board purposes. The credit limit for cards shall be established at a mutually agreeable amount. There shall be no fee for these cards. ***The board reserves the right to use another provider for these exclusive services if the board so desires without conflict to this RFP proposal.***