Explanation
BACKGROUND:
The majority of the City Treasurer’s banking contracts will expire on May 31, 2023. The City Treasurer’s Office in consultation with the City Auditor’s Office agreed that it would be in the best interest of the City to engage a consultant to assist the City with its banking RFP development. To that end, the City Treasurer’s Office and representatives from the City Auditor’s Office and the Department of Finance and Management collaborated on an RFP for a banking RFP consultant.
On August 13, 2021 the Columbus City Treasurer's Office issued a request for proposal, RFQ019553. Four hundred eight vendors were solicited; one vendor - Crowe LLP responded. The evaluation committee which was comprised of representatives from the Department of Finance and Management, the City Auditor’s Office and the City Treasurer’s Office agreed that the only bidder, Crowe LLP be recommended to the Depository Commission and Treasury Investment Board as its choice to enter negotiations and if successful, to enter into contract.
At a meeting on November 12, 2021 the Depository Commission and Treasury Investment Board, based on the evaluation committee’s recommendation, authorized the City Treasurer to move forward with negotiations with Crowe LLP for a contract as the City’s banking RFP consultant subject to approval by Columbus City Council.
At the kickoff meeting for the project on January 13, 2022 where City participants discussed the planned scope of the project as originally contemplated, it became clear that a more thorough review of banking services citywide would be desirable. This modification to the original contract will provide the resources to broaden the scope to include interviews and reviews of documents and the banking requirements of departments and divisions throughout the City.
On February 7, 2022, Columbus City Council passed ordinance 0353-2022 authorizing a modification and expenditures to the Treasurer’s Office contract with Crowe LLP fo...
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