Explanation
On October 25, 2012, six responses to a Request for Proposal for City ACH credit transaction services issued by the City Treasurer were received. The RFP included specifications for the processing of electronic ACH credit payments to the Division of Income Tax, Office of the Auditor. Representatives from the Auditor's Office and also the Columbus Depository Commission have approved the selection of Key Bank, N.A. as the most responsive bidder of those submitted by qualified service providers. Pursuant to the Request for Proposal, the contract for services to the Division of Income Tax shall be an initial term of one year with an option for the Division to renew annually for the following nine years. Allowable expenditure for the first contract year shall not exceed $60,000.00.
The contract for ACH credit services provides for the processing of electronic ACH credit files and payment transactions of city income tax receipts. The City benefits from the automation provided by the ACH credit process, thereby relieving the Division of Income Tax of the time consuming task of opening mail and the data capture of tax information in addition to expediting the deposit of funds to the City.
Title
To authorize and direct the City Auditor to enter into a contract with Key Bank, N.A. for electronic processing of ACH credit payment transactions for the Division of Income Tax for the period June 1, 2013 through May 31, 2014, to authorize the expenditure of $60,000.00 from the General Fund and to declare an emergency ($60,000.00).
Body
WHEREAS, the City Auditor wishes to enter into a contract for the provision of ACH credit banking services for the processing of income tax remittances, as specified within the Request for Proposal for City banking services, and
WHEREAS, the selection of Key Bank, N. A., to provide such services was approved by the Columbus Depository Commission at its April 18, 2013 meeting, and
WHEREAS, the ACH credit service contract shall be for a period of one (1) year with an option for the Division of Income Tax to renew annually for the following nine years, and
WHEREAS, an emergency exists in the usual daily operation of the Income Tax Division in that it is necessary to ensure uninterrupted banking services by entering into a contract with Key Bank N.A., 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 Auditor be and is hereby authorized and directed to enter into a contract for ACH credit transaction services with Key Bank N.A., for the processing of income tax remittances for the period June 1, 2013 through May 31, 2014.
Section 2. That the expenditure of $60 ,000.00 or so much thereof as may be necessary is hereby authorized from the General Fund 010, Auditor's Office/Income Tax Division 22-02, OCA Code 220541, PCA Code 22104, Object Level Three 3348.
Section 3. That for the reasons stated in the preamble, which is hereby made a part of, this ordinance is hereby declared to be emergency measure and shall be in force and after its passage and approval; by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.