Department: Purchasing
Department Head/Elected Official: DeWight Dopslauf
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Award
Project ID (if applicable): 220266
Vendor/Entity Legal Name (if applicable): U.S. Bank National Association
MWDBE Contracted Goal (if applicable): 0%
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: 0% - Specialized, Technical, or Unique in Nature
Request Summary (Agenda Caption):
title
Request for approval of an award on the basis of best proposal meeting requirements and that the County Judge execute an agreement with U.S. Bank National Association for depository, comprehensive payables, custodial and merchant services for the Office of Management and Budget for the period of June 4, 2024 - June 3, 2025 with four (4) one-year renewal options (220266), Justification for 0% MWDBE Participation Goal: 0% - Specialized, Technical, or Unique in Nature.
end
Background and Discussion:
The County issued an RFP in 2022 and received five responses (JP Morgan Chase, Wells Fargo, UMB, US Bank, and Cadence Bank). Based on our review of the responses, the Office of Management and Budget (OMB) recommends entering into a new four-year contract with US Bank. These services are for safekeeping investments held by Harris County.
Expected Impact:
All investments currently safe kept at Cadence Bank will be transitioned to US Bank based on a tentative timeline that will be supplied by US Bank’s transition team.
Alternative Options:
A new RFP process would need to take place if the Court does not approve.
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
X Governance and Customer Service
Prior Court Action (if any): N/A
|
Date |
Agenda Item # |
Action Taken |
|
|
|
|
Location:
Address (if applicable): N/A
Precinct(s): Countywide
|
Fiscal and Personnel Summary |
|
Service Name |
Custodial Services |
|
|
|
Current Fiscal Year Cost |
Annual Fiscal Cost |
|
|
Labor |
Non-Labor |
Total |
Recurring Expenses |
|
Funding Sources |
|
|
Existing Budget |
|
|
|
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
$ |
|
Additional Budget Request (Requires Fiscal Review Request Form) |
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Additional Budget Request |
$ |
$ |
$ |
$ |
|
Total Funding Request |
$ |
$ |
$ |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
|
Current Position Count for Service |
- |
- |
- |
- |
|
Additional Positions Request |
- |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
- |
Anticipated Court Date: June 4th, 2024
Anticipated Implementation Date (if different from Court date): June 4th, 2024
Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item
Contact(s) name, title, department: Amy Perez, Deputy Executive Director, Office of Management & Budget, Chris Kaminski, Purchasing Center of Excellence Director, Purchasing Department
Attachments (if applicable): Letter, Agreement