Explanation
BACKGROUND:
On October 3, 2012 a request for proposal SA004617 for various banking services was issued by the Columbus City Treasurer's Office. Proposals were received from six (6) local banks and subsequently reviewed by the Columbus Depository Commission, which recommended, subject to the approval of City Council, the award of banking services to specific banks on April 18, 2013. All such banks are currently eligible depositories of the City of Columbus, pursuant to Chapter 321.04 of the Columbus City Code. Approval is based upon Applications for the Deposit of Public Funds, which were submitted by each bank and approved at a meeting of the Columbus Depository Commission held on December 28, 2012. The contracts are for a period of ten (10) years beginning June 1, 2013 through May 31, 2023 subject to annual appropriations and approval of contracts by the Columbus City Council.
On May 6, 2013 contracts for the first year of banking services was authorized by Columbus City Council, ordinance number 1040-2013, for the period of June 1, 2013 through May 31, 2014.
The City Treasurer's Office now wishes to modify and extend its contracts for banking for the second year of the ten year contracts for the period June 1, 2014 through May 31, 2015.
Emergency action is requested to allow the financial transaction to be posted in the city's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
FISCAL IMPACT:
Funds for these expenditures are budgeted and available within the various funds' 2014 budget appropriations.
Contract Compliance: JP Morgan Chase Bank, 134994650, expiration 9/26/2014; Huntington National Bank, 113328074, expiration 12/17/2014 and 310966785, expiration 10/25/2014; Fifth Third Bank 310676865, expiration 10/22/2014
Title
To authorize the City Treasurer to modify its contracts for various banking services with JP Morgan Chase Bank, Huntington Bank and Fifth Third Bank; to authorize the expenditure of up to $1,951,240 from various funds within the city; and to declare an emergency. ($1,951,240.00)
Body
WHEREAS, the City Treasurer proposed the award of contracts for banking services as provided for in an RFP issued on October 3, 2012, for which the Columbus Depository Commission, at a meeting held on April 18, 2013, recommended the award of banking services, subject to approval by Columbus City Council; and
WHEREAS, Columbus City Council authorized contracts for the first year of a ten year contract for banking services for the period of June 1, 2013 through May 31, 2014 on May 6, 2013, ordinance 0912-2012; and
WHEREAS, the City Treasurer now wishes to modify and extend its contracts for the second year of banking services for the period of June 1, 2014 through May 31, 2015; and
WHEREAS, as an emergency exists in the usual daily operation of the Office of the City Treasurer as it is immediately necessary to modify the contracts and authorize the expenditures as cited below, providing banking services necessary for the daily operation of normal business activities of the City of Columbus thereby preserving the public health, peace, property, safety and welfare; now therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS
SECTION 1. That the City Treasurer is hereby authorized to modify its contract with JP Morgan Chase Bank for the provision of the main operating account (for the City Treasurer, the Department of Public Utilities and the Income Tax Division), the payroll account, the Utilities E-lockbox, and the tax ACH account of the City of Columbus for the period June 1, 2014 through May 31, 2015 and to authorize the expenditure of $92,000, or so much thereof as may be necessary, as follows:
Division: 2202 | Fund: 010 | OCA: 220202 | Object level one: 03 | Object level three code: 3348 | Amount: $60,000.00 | Income Tax
Division: 6009 | Fund: 600 | OCA: 602318 | Object level one: 03 | Object level three code: 3348 | Amount: $12,000.00 | Division of Water
Division: 2301 | Fund: 010 | OCA: 230227 | Object level one: 03 | Object level three code: 3348 | Amount: $20,000.00 | City Treasurer
SECTION 2. The City Treasurer is hereby authorized to modify its contract with Huntington Bank for the provision of credit card processing services for the period June 1, 2014 through May 31, 2015 and to authorize the expenditure of $1,711,240.00 or so much thereof as may be necessary, as follows:
Division: 2202 | Fund: 010 | OCA: 220202 | Object level one: 03 | Object level three code: 3348 | Amount: $20,000.00 | Income Tax
Division: 3002 | Fund: 010 | OCA: 320103 | Object level one: 03 | Object level three code: 3348 | Amount: $3,000.00 | Support Services
Division: 3004 | Fund: 223 | Subfund: 133 | OCA: 223133 | Object level one: 03 | Object level three code: 3348 | Amount: $5,000.00 | Fire
Division: 4301 | Fund: 240 | OCA: 430386 | Object level one: 03 | Object level three code: 3348 | Amount: $228,000.00 | Building & Zoning
Division: 4505 | Fund: 513 | OCA: 451409 | Object level one: 03 | Object level three code: 3348 | Amount: $5,000.00 | Fleet Management
Division: 4601 | Fund: 298 | OCA: 461298 | Object level one: 03 | Object level three code: 3348 | Amount: $1,000.00 | Human Resources
Division: 5001 | Fund: 250| OCA: 502823 | Object level one: 03 | Object level three code: 3348 | Amount: $20,000.00 | Health
Division: 5101 | Fund: 285 | OCA: 510289 | Object level one: 03 | Object level three code: 3348 | Amount: $52,000.00 | Recreation and Parks
Division: 5103 | Fund: 284 | OCA: 516005 | Object level one: 03 | Object level three code: 3348 | Amount: $3,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516021 | Object level one: 03 | Object level three code: 3348 | Amount: $8,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516062 | Object level one: 03 | Object level three code: 3348 | Amount: $7,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516310 | Object level one: 03 | Object level three code: 3348 | Amount: $7,500.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516104 | Object level one: 03 | Object level three code: 3348 | Amount: $12,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516187 | Object level one: 03 | Object level three code: 3348 | Amount: $7,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516146 | Object level one: 03 | Object level three code: 3348 | Amount: $3,500.00 | Golf
Division: 5910 | Fund: 268 | OCA: 268101 | Object level one: 03 | Object level three code: 3348 | Amount: $461,240.00 | Mobility Options
Division: 5911 | Fund: 265 | OCA: 591101 | Object level one: 03 | Object level three code: 3348 | Amount: $8,000.00 | Planning and Operations
Division: 6009 | Fund: 600 | OCA: 602318 | Object level one: 03 | Object level three code: 3348 | Amount: $860,000.00 | Division of Water
SECTION 3. That the City Treasurer is hereby authorized to enter into contract with Fifth Third Bank for the provision of the investment safekeeping account of the City of Columbus for the period June 1, 2014 through May 31, 2015 and to authorize the expenditure of $8,000, or so much thereof as may be necessary, as follows:
Division: 2301 | Fund: 010 | OCA: 230227 | Object level one: 03 | Object level three code: 3348 | Amount: $8,000.00 | City Treasurer
SECTION 4. That the City Treasurer is hereby authorized to enter into contract with the Huntington National Bank for the provision of banking services to facilitate the processing of credit card and lockbox payments for the period June 1, 2014 through May 31, 2015, and to authorize the expenditure of up to $10,000, or as much thereof as may be necessary, as follows:
Division: 2301 | Fund: 010 | OCA: 230227 | Object level one: 03 | Object level three code: 3348 | Amount: $10,000.00 | City Treasurer
SECTION 5. That the City Treasurer is hereby authorized to enter into contract with the Huntington National Bank for the provision of water lockbox services for the period June 1, 2014 through May 31, 2015, and to authorize the expenditure of up to $130,000, or so much thereof as may be necessary, as follows:
Division: 6009 | Fund: 600 | OCA: 602318 | Object level one: 03 | Object level three code: 3348 | Amount: $130,000.00 | Division of Water
SECTION 5. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.