Fayette County Public Schools Sealed Solicitation
Title: School Activity Fund Banking Services
Deadline: 2/28/2025 2:00 PM (UTC-05:00) Eastern Time (US & Canada)
Status: Awarded
Solicitation Number: 14-25
Description:
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 RFP. Depositories should possess a demonstrated track record of success in providing these services. The successful depository will work closely with the Fayette County Board of Education to match expectations and the scope for depository services as indicated in this RFP. Fayette County Board of Education has an annual budget more than $11 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_14_25_School_Activity_Fund_Banking_Services_.pdf |
Addition 1
Posted: 4/29/2025
Type of Addition: Award Information
Overview: Awarded to Central Bank & Trust
Documents:
Question 1
Posted: 2/11/2025
Question: RFP 14-25 School Activity Fund Banking Services, Page 32, 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 is anything in the solicitation that needs to be filled out including pages 1,2,13, 19 - 30.
Question 2
Posted: 2/11/2025
Question: RFP 14-25 School Activity Fund Banking Services, Page 15, #5 RFP FORM, can the Board please clarify or confirm if the “Official Proposal Form” is the same as the “Official Quote Form?”
Response: Yes, it is the same as the Official Quote Form on pages 19-23.
Question 3
Posted: 2/11/2025
Question: RFP 14-25 School Activity Fund Banking Services, Page 15, #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 online through Vendor Registry or in a sealed envelope. It does not have to be both.
Question 4
Posted: 2/11/2025
Question: Per RFP 14-25 School Activity Fund Banking Services, Page 32, Format & Submission of Proposals 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 Program Forms are not required for this solicitation.
Question 5
Posted: 2/13/2025
Question: Page 24, Investments: What dollar value in coin deposits does the school activity accounts have collectively?
Response: The dollar value in coin deposits varies by schools; however, each school is immediately required to deposit all cash, including coins when it totals $100 as outlined in the Kentucky School Financial Management Redbook
Question 6
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: Will each school be tasked with managing positive pay for issued checks?
Response: The schools currently does not manage positive pay for issued checks.
Question 7
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: It is noted that there are 66 School Activity accounts, do any of these accounts have Merchant Services linked to point-of-sale hardware to allow the schools to collect for school events that require payments from attendees?
Response: No they currently do not.
Question 8
Posted: 2/13/2025
Question: Page 24, Investments: Does each school account have a target balance that they maintain?
Response: Each school has a budget target that varies across the district as each school is separate. The School Activity Funds account usually do not have investments but in the rare occasion it is requested. It must be approved by the board treasurer for CD’s etc.
Question 9
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: Will the schools all be under group billing or standalone?
Response: Group billing but broke out by schools. There is only one tax id# for the district as a whole. All schools fall under that id# and do not exist as individual entities. However they are individual components that are managed accordingly by school.
Question 10
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: Do any of the schools currently use an armoured courier?
Response: No
Question 11
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: How often do the schools need change orders?
Response: Change orders are highly restricted, if implemented at all.
Question 12
Posted: 2/13/2025
Question: Page 24, Investments: Is check disbursements the only way the school can make payments?
Response: Schools have Individual Pcards too that the district has an internal process of allocating payments for the schools.
Question 13
Posted: 2/13/2025
Question: Page 24, Investments: Please provide a list of the types of payment collections currently being received at the schools?
Response: The schools currently have the following types of payment collections: cash, checks, money orders, coins, and some ACH payments. FY2026, we are planning to have online payments.
Question 14
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: How many checks scanners will be needed in total for the schools?
Response: Currently, the schools do not use check scanners; however, if implementation is considered in the future, we will assess the total number based on transaction volume, school size, and operational efficiency.
Question 15
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: Will the staff at each school that has online access to their school’s account have permission to have balance review capability, processing transactions, and download statements?
Response: Absolutely for their individual school only. However, additionally up to 6 central office staff from the Department of Financial Accounting and Benefits Services may need access as well to access all account information per school.
Question 16
Posted: 2/13/2025
Question: Page 16, Checks/Supplies: How many safe deposit boxes are needed?
Response: None. The schools do not utilize the safe deposit boxes at the bank. The use of any safe deposit boxes in the future will be approved by the Executive Director of Finance, only.
Question 17
Posted: 2/13/2025
Question: Page 24, Investments: Is there a dollar amount in collections that has to be received before a deposit needs to be made at the financial institution by each school?
Response: As required by Kentucky School Financial Management Redbook, each school is required to deposit immediately when their amount reaches $100. That could be in one day or over several days.
Posted: 4/29/2025
Type of Addition: Award Information
Overview: Awarded to Central Bank & Trust
Documents:
Posted: 2/11/2025
Question: RFP 14-25 School Activity Fund Banking Services, Page 32, 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 is anything in the solicitation that needs to be filled out including pages 1,2,13, 19 - 30.
Posted: 2/11/2025
Question: RFP 14-25 School Activity Fund Banking Services, Page 15, #5 RFP FORM, can the Board please clarify or confirm if the “Official Proposal Form” is the same as the “Official Quote Form?”
Response: Yes, it is the same as the Official Quote Form on pages 19-23.
Posted: 2/11/2025
Question: RFP 14-25 School Activity Fund Banking Services, Page 15, #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 online through Vendor Registry or in a sealed envelope. It does not have to be both.
Posted: 2/11/2025
Question: Per RFP 14-25 School Activity Fund Banking Services, Page 32, Format & Submission of Proposals 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 Program Forms are not required for this solicitation.
Posted: 2/13/2025
Question: Page 24, Investments: What dollar value in coin deposits does the school activity accounts have collectively?
Response: The dollar value in coin deposits varies by schools; however, each school is immediately required to deposit all cash, including coins when it totals $100 as outlined in the Kentucky School Financial Management Redbook
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: Will each school be tasked with managing positive pay for issued checks?
Response: The schools currently does not manage positive pay for issued checks.
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: It is noted that there are 66 School Activity accounts, do any of these accounts have Merchant Services linked to point-of-sale hardware to allow the schools to collect for school events that require payments from attendees?
Response: No they currently do not.
Posted: 2/13/2025
Question: Page 24, Investments: Does each school account have a target balance that they maintain?
Response: Each school has a budget target that varies across the district as each school is separate. The School Activity Funds account usually do not have investments but in the rare occasion it is requested. It must be approved by the board treasurer for CD’s etc.
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: Will the schools all be under group billing or standalone?
Response: Group billing but broke out by schools. There is only one tax id# for the district as a whole. All schools fall under that id# and do not exist as individual entities. However they are individual components that are managed accordingly by school.
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: Do any of the schools currently use an armoured courier?
Response: No
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: How often do the schools need change orders?
Response: Change orders are highly restricted, if implemented at all.
Posted: 2/13/2025
Question: Page 24, Investments: Is check disbursements the only way the school can make payments?
Response: Schools have Individual Pcards too that the district has an internal process of allocating payments for the schools.
Posted: 2/13/2025
Question: Page 24, Investments: Please provide a list of the types of payment collections currently being received at the schools?
Response: The schools currently have the following types of payment collections: cash, checks, money orders, coins, and some ACH payments. FY2026, we are planning to have online payments.
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: How many checks scanners will be needed in total for the schools?
Response: Currently, the schools do not use check scanners; however, if implementation is considered in the future, we will assess the total number based on transaction volume, school size, and operational efficiency.
Posted: 2/13/2025
Question: Page 29, Bank Services and Supplies: Will the staff at each school that has online access to their school’s account have permission to have balance review capability, processing transactions, and download statements?
Response: Absolutely for their individual school only. However, additionally up to 6 central office staff from the Department of Financial Accounting and Benefits Services may need access as well to access all account information per school.
Posted: 2/13/2025
Question: Page 16, Checks/Supplies: How many safe deposit boxes are needed?
Response: None. The schools do not utilize the safe deposit boxes at the bank. The use of any safe deposit boxes in the future will be approved by the Executive Director of Finance, only.
Posted: 2/13/2025
Question: Page 24, Investments: Is there a dollar amount in collections that has to be received before a deposit needs to be made at the financial institution by each school?
Response: As required by Kentucky School Financial Management Redbook, each school is required to deposit immediately when their amount reaches $100. That could be in one day or over several days.