City of Columbus - File #: 0236-2004

• File #: 0236-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 1/23/2004
• In control: Administration Committee
• On agenda: 3/1/2004
• Final action: 3/2/2004
• Title: To authorize and direct the City Auditor to modify and extend Contract No. CT-17228 with The Huntington National Bank for certain banking services to be performed for the City Auditor, Division of Income tax through February 28, 2005 and to authorize the expenditure of $61,000.00 from the general fund, ($61,000.00).

Date	Ver.	Action By	Action	Result
3/2/2004	1	MAYOR	Signed
3/2/2004	1	CITY CLERK	Attest
3/1/2004	1	Columbus City Council	Approved	Pass
3/1/2004	1	COUNCIL PRESIDENT PRO-TEM	Signed
2/23/2004	1	Columbus City Council	Read for the First Time
2/6/2004	1	Auditor Drafter	Sent for Approval
2/6/2004	1	CITY ATTORNEY	Reviewed and Approved
2/6/2004	1	Auditor Drafter	Sent to Clerk's Office for Council
2/3/2004	1	Auditor Reviewer	Reviewed and Approved
2/3/2004	1	CITY AUDITOR	Reviewed and Approved
2/2/2004	1	Auditor Drafter	Sent for Approval
1/29/2004	1	CITY AUDITOR	Reviewed and Approved
1/27/2004	1	Auditor Reviewer	Reviewed and Approved
1/27/2004	1	Auditor Drafter	Sent for Approval
1/27/2004	1	ODI DIRECTOR	Reviewed and Approved
1/26/2004	1	Auditor Drafter	Sent for Approval

Explanation

BACKGROUND

    The Division of Income Tax has previously contracted with The Huntington National Bank for the purpose of providing lockbox services related to the processing of the direct deposit or non-withholding documents.

    The lockbox contract provides for the direct deposit of income tax receipts.  The City benefits from greater investment earnings as tax receipts are deposited in a more timely manner.  This also relieves the Division's employees from the time consuming task of opening and sorting a large volume of mail.

    Item No. 13 of the original contract CT-17228 provides for the option to renew for nine (9) one (1) year periods.  At this time, the Division is exercising its option to renew for the eighth year.

FISCAL IMPACT

    The funds for this modification are included in the Division of Income Tax budget for 2004.  Of the $181,000.00 budgeted for lockbox services, $61,000.00 is to be applied to this modification.

Title

To authorize and direct the City Auditor to modify and extend Contract No. CT-17228 with The Huntington National Bank for certain banking services to be performed for the City Auditor, Division of Income tax through February 28, 2005 and to authorize the expenditure of $61,000.00 from the general fund, ($61,000.00).

Body

    WHEREAS, the Division of Income Tax originally entered into Contract No. 17228 on February 29, 1996; and

     WHEREAS, Contract No. 17228 provides an option for the City to renew its contract with The Huntington National Bank for nine (9) one (1) year terms; and

    WHEREAS, the Division of Income Tax desires the City Auditor to exercise the annual renewal option listed as Item No. 13 of the original agreement for the eighth year of the renewal period through February 28, 2005; 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 modify and extend Contract No. CT17228 for "lockbox" services for the income tax direct pay accounts through February 28, 2005.

    Section 2.  That the expenditure of $61 ,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 this ordinance shall take effect and be in force from after the earliest period allowed by law.