Bidders shall have sufficient experience and qualifications to manage and coordinate all of the banking needs of Metro. Please show how you can provide: Protection of Public Funds – This will be the successful bidder’s top priority. Metro currently has an operational checking account, a flexible spending checking account, a money center investment account, and a clearing account for investment activity. Bidder will need to show that they are capable of collateralizing all Metro funds on deposit with the exception of investment funds invested in treasury products. Methods of fund protection may include FDIC insurance, pledged securities, and letters of credit. Competitive Investment Rates – Metro adheres to the Kansas Pooled Money Investment Board (PMIB) and the investment rates they publish at the following link: Rates for Public Funds Metro also invests with the Kansas Municipal Investment Pool (KMIP) so investment rates offered must exceed KMIP rates per the following link: KMIP System - Daily Municipal Investment Pool Rates Financial Strength – In order to properly protect public funds, Metro must deposit these funds with a strong, solid banking institution. Bidder must demonstrate strong financial performance. Enhanced Services – The successful bidder will be able to provide/process merchant services, company credit cards for ten administrative and management staff members, and payment service for Metro’s on-line product sales. The successful bidder’s proposal will show that their bank stays current with changes in technology and offers state-of-the-art enhanced services to its clients. Experience and References – One of the evaluation criteria will be references that reflect a general level of satisfaction with the bidder’s services
