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File #: 18-0648    Version: 1 Name: APPROVE AGREEMENT FOR GENERAL BANKING SERVICES
Type: CC- Report Status: Agenda Ready
File created: 8/1/2018 In control: City Council
On agenda: 9/4/2018 Final action:
Title: REPORT - APPROVE PROFESSIONAL SERVICES AGREEMENT FOR GENERAL BANKING SERVICES WITH JPMORGAN CHASE BANK, N.A. BACKGROUND: The City contracts for several services relative to banking and other financial services, including merchant card services, institutional custody, and procurement card services. Since 2002, Wells Fargo Bank has provided general banking services to the City. In July 2017, the City contracted with PFM Asset Management LLC (PFM), to assist with the Request for Proposal (RFP) process for selecting new institutions for Comprehensive Banking Services. The RFP was released on October 31, 2017, and eight proposals were received by the December 5, 2017 due date. Proposals were reviewed by a committee including the Chief Financial Officer, the Deputy Director of Finance, an Administrative Technician tasked with performing Treasury duties, and representatives from PFM. Financial institution presentations were made to this group, as well as subject matter experts from var...
Indexes: Exempt Project
Code sections: 15301 - Existing Facilities
Attachments: 1. Staff Report, 2. Resolution, 3. Exhibit A, 4. Presentation