Title
Mail Remittance Processing Services
Action
Action:
A. Authorize the City Manager to negotiate and approve a unit price contract with Truist Bank for mail remittance processing services for an initial term of three years, and
B. Authorize the City Manager to renew the contract for up to two, one-year terms with possible price adjustments and to amend the contract consistent with the purpose for which the contract was approved.
Body
Staff Resource(s):
Teresa Smith, Finance
Susan Walker, Finance
Explanation
§ Finance is responsible for managing mail remittance processing functions for water, sewer, and storm water services.
§ On May 17, 2021, the City issued a Request for Proposals (RFP); four responses were received.
§ Truist Bank best meets the City’s needs in terms of qualifications, experience, cost, and responsiveness to RFP requirements.
§ Annual expenditures are estimated to be $250,000.
Charlotte Business INClusion
Per Charlotte Business INClusion Policy: Part C: Section 2.1(a) The City shall not establish subcontracting goals for Contracts where (a) there are no subcontracting opportunities identified for the Contract. or (b) there are no MWBEs or SBEs certified to perform the scopes of work that the City regards as realistic opportunities for subcontracting.
This contract meets the provision of (a) - No subcontracting opportunities.
Fiscal Note
Funding: Finance Operating Budget