Explanation
BACKGROUND:
On December 12, 2022, the Columbus City Treasurer's Office in collaboration with the Department of Finance and Management and the City Auditor’s Office issued a request for proposal, RFQ023687, for various banking services. An Evaluation Committee comprised of five representatives from the City Treasurer’s Office, Department of Public Utilities, Department of Finance and Management, Division of Income Tax and the City Auditor’s Office received and reviewed proposals from six (6) banks. On May 12, 2023, a joint meeting of the Columbus Depository Commission and Treasury Investment Board was held at which the Treasurer presented the Evaluation Committee’s rankings of offerors. The Treasurer recommended, and the Depository Commission and Treasury Investment Board approved, subject to successful negotiation and the approval of City Council, the award of banking services to specific banks.
All such banks are currently eligible depositories of the City of Columbus, pursuant to Chapter 321.04 of the Columbus City Code. The contracts are for a period of ten (10) years beginning September 1, 2023, through August 31, 2033, subject to annual appropriations and approval of contracts by the Columbus City Council.
The Treasurer established the initial contract term to be 17 months to better align the annual term with the City’s budget.
The City Treasurer’s contract with US Bank will provide City agencies the ability to use gift cards as incentive payments for agency programs. In a previous contract, ordinances that have authorized gift cards included:
• 1821-2021: Authorized the use of gift cards by Columbus Public Health (CPH) as an incentive for those that received a vaccine at a CPH COVID-19 vaccination site.
• 2188-2021: Authorized an additional allocation of gift cards for use by CPH for same initiative.
• 2579-2021: Authorized the use of gift cards by the Department of Public Safety as compensation to individuals who voluntarily surrendered firearms during a community gun buy-back event.
The City Treasurer’s Office now wishes to renew its contract with US Bank for gift cards for the period April 1, 2025, through March 31, 2026.
FISCAL IMPACT:
No funding for this ordinance is required. Agencies that wish to provide gift cards for their programs will fund future modifications of this contract, subject to the approval of Columbus City Council.
Contract Compliance: US Bank NA, 310841368, expiration 1/21/2027.
Title
To authorize the City Treasurer to renew its contract for gift card banking services with US Bank NA for the period April 1, 2025, through March 31, 2026. ($0.00)
Body
WHEREAS, the City Treasurer proposed the award of contracts for banking services as provided for in RFQ023687 issued on December 12, 2022, for which the Columbus Depository Commission, at a meeting held on May 12, 2023, recommended the award of banking services, subject to approval by Columbus City Council; and
WHEREAS, Columbus City Council authorized the City Treasurer to enter into contract for gift card banking services with US Bank for the period of September 1, 2023, through March 31, 2025, to better align the annual term with the City’s budget; and
WHEREAS, the City Treasurer now wishes to renew its contract for gift card banking services with US Bank for the period of April 1, 2025, through March 31, 2026; and
WHEREAS, it has become necessary in the usual daily operation of the City Treasurer’s Office to authorize the Treasurer to renew its contract with US Bank for the period of April 1, 2025, through March 31, 2026, so that US Bank may continue offering the City its gift card program for the daily operation of normal business activities of the City of Columbus; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Treasurer is hereby authorized to renew its contract with US Bank for the provision of gift card banking services for the City of Columbus for the period April 1, 2025, through March 31, 2026.
SECTION 2. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.