Explanation
BACKGROUND:
On December 12, 2022, the Columbus City Treasurer's Office in collaboration with the Department of Finance and Management and the City Auditor’s Office issued a request for proposal, RFQ023687, for various banking services. An Evaluation Committee comprised of five representatives from the City Treasurer’s Office, Department of Public Utilities, Department of Finance and Management, Division of Income Tax and the City Auditor’s Office received and reviewed proposals from six (6) banks. On May 12, 2023, a joint meeting of the Columbus Depository Commission and Treasury Investment Board was held at which the Treasurer presented the Evaluation Committee’s rankings of offerors. The Treasurer recommended, and the Depository Commission and Treasury Investment Board approved, subject to successful negotiation and the approval of City Council, the award of banking services to specific banks.
All such banks are currently eligible depositories of the City of Columbus, pursuant to Chapter 321.04 of the Columbus City Code. The contracts are for a period of ten (10) years beginning September 1, 2023, through August 31, 2033, subject to annual appropriations and approval of contracts by the Columbus City Council.
The Treasurer established the initial contract term to be 17 months to better align the annual term with the City’s budget.
The City Treasurer’s contract with US Bank will provide City agencies the ability to use gift cards as incentive payments for agency programs. In a previous contract, ordinances that have authorized gift cards included:
· 1821-2021: Authorized the use of gift cards by Columbus Public Health (CPH) as an incentive for those that received a vaccine at a CPH COVID-19 vaccination site.
· 2188-2021: Authorized an additional allocation of gift cards for use by CPH for same initiative.
· 2579-2021: Authorized the use of gift cards by the Department of Public Safety as compensation to individuals who voluntarily surrendered...
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