Explanation
Background:
This ordinance authorizes the City Auditor to enter into a contract with J.P. Morgan Chase in the amount of $520,000 for continued professional lockbox and banking services for Tax Revenue filings. The contract expired, but the need for services is still necessary. The original contract contained annual renewal options subject to the approval and appropriation of City Council. Legislation to exercise the renewal options for 2026 was delayed awaiting passage of the 2026 operating budget and the collection of compliance information from JP Morgan Chase. Since legislation was unable to be submitted before the contract expiration date, a new contract is needed to ensure the processing of returns and collection of taxes at the Lockbox is uninterrupted. Approval is also requested for reimbursement of expenses that incurred prior to the execution of this purchase order, starting March 1, 2026.
BID INFORMATION: The City of Columbus first contracted this vendor through the competitive RFP process. The contract was first initiated by Ordinance No. 0867-2021 and has been continuously in use since. This service is essential for the continuation of lockbox banking services. The Department of the Auditor, Division of income Tax requests a bid waiver to continue services with this vendor.
This company is not debarred according to the Federal excluded parties listing or prohibited from being awarded a contract according to the Auditor of State unresolved findings for recovery certified search.
Contract Compliance: The vendor contract compliance number is 000709 and is valid through 3-2-2028.
1. Amount of funds to be expended: $520,000.00
2. Reason additional funds were not unforeseen: The need for additional funds was known at the time of the initial contract and this legislation authorizes funding to cover a continuation of the services for 2026.
3. Reason other procurement processes were not used: This is a continuation o...
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