Project Information

Bid Title

Management Banking Services

Issuing Agency

City of Fernandina Beach

Location

Florida

Published Date

Nov 14, 2025

Closing Date

Dec 16, 2025

Government Level

State & Local

Status

Closed

Ref. #

RFP 25-04

Original Source

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Bid Inquiries

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Bid Documents

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Project Description

Bid Number:	RFP 25-04
Bid Title:	Management Banking Services
Category:	All Bids
Status:	Open

Description: NOTICE OF REQUEST FOR PROPOSAL RFP 25-04 MANAGEMENT BANKING SERVICES The City of Fernandina Beach, Florida is accepting competitive sealed responses for MANAGEMENT BANKING SERVICES. The City of Fernandina Beach will receive sealed proposals from qualifying banks through Demandstar.com (www.demandstar.com). Proposals must be uploaded to Demandstar.com E-Bidding System prior to 2:00PM, December 16, 2025. RFP documents can be found on the City of Fernandina Beach website, Bids/ Purchasing/Fernandina Beach, FL - Official Website. As of June 1, 2025, The City of Fernandina Beach will be using the DemandStar E-bidding system for the notification and distribution of the City’s ITB, RFP and RFQ documents.  Vendors should submit responses through the DemandStar website at www.demandstar.com.  The City asks that all vendors register with DemandStar for notification of open ITBs, RFPs and RFQs. To register, please go to www.demandstar.com/registration . On the registration form, enter the required information and be sure to select the City of Fernandina Beach as your Free Agency Registration. DemandStar is an independent entity and is not an agent or representative of the City. Communications to DemandStar do not constitute communications to the City. The City is not responsible for errors and omissions occurring in the transmission or download of any documents from this website. Vendors who obtain ITBs, RFPs and RFQs from a source other than DemandStar are cautioned that the information may be incomplete. Questions regarding the RFP requirements or process can be directed in writing to Wanda Weaks, Purchasing Specialist at For security reasons, you must enable JavaScript to view this E-mail address. . Topic: City of Fernandina Beach E-Bid Openings Join Zoom Meeting https://us06web.zoom.us/j/88112532076?pwd=JjvRPVsRgVpyJH6B09hWc5K3mx6LDf.1 Meeting ID: 881 1253 2076 Passcode: 840329 One tap mobile +13052241968,,88112532076#,,,,*840329# US +16469313860,,88112532076#,,,,*840329# US Publication Date/Time: 11/14/2025 12:30 PM Closing Date/Time: 12/16/2025 2:00 PM Submittal Information: see related documents Pre-bid Meeting: N/A Related Documents: RFP 25-04 Management Banking Services

Attachment Preview

CITY OF FERNANDINA BEACH, FLORIDA

REQUEST FOR PROPOSAL 25-04

MANAGEMENT BANKING SERVICES

General Information

The City of Fernandina Beach, Florida is accepting competitive sealed proposals for

Management Banking Services.

The City of Fernandina Beach will receive sealed proposals from qualifying banks through

Demandstar.com (www.demandstar.com). Proposals must be uploaded to

Demandstar.com E-Bidding System prior to 2:00PM, December 16, 2025.

Hand-delivery, mailed, faxed or emailed submissions will not be accepted.

The City seeks to establish a banking relationship with a qualified financial institution for its

banking needs. The City is looking for a single bank to provide all the services outlined below

for the duration of the contract. The banking range of services includes collection and deposit,

cash concentration and disbursement (CCD), account maintenance, and overnight

investment services. Maintaining open and frequent two-way communication between the

successful bank and the City is essential. Both parties will establish services and service levels

through contract or written agreement, ensure receiving timely responses, establishing fair

pricing and compensation, and upholding the highest ethical standards.

Instructions, Exhibits A-H and Response Forms (Attachments A-D) to this Request for Proposal

are required as part of the submittal.

SCOPE OF SERVICES

A proposing bank shall positively affirm its capability to provide the specified services or shall note

any exception(s) on the Objectives and Scope of Services Response Form, Attachment “B”.

Banks are invited to propose reasonable alternatives to the requested services.

CONTRACT PERIOD

All services shall be provided for a five-year period, with two one-year renewals by mutual

agreement with negotiated changes, for a total potential contract length of seven years. If

the selected bank shall not be the current provider of banking services, FIRST FEDERAL BANK,

then the selected bank shall begin transition, conversion and implementation operations no later

than April 15, 2026 to be fully operational by May 15, 2026. A proposing bank other than FIRST

FEDERAL BANK shall submit its implementation schedule as part of its response.

BANK QUALIFICATIONS

1) Qualified Public Depository:

Only banks meeting the criteria set forth in Chapter 280, Florida Statutes, and the

Florida Security for Public Deposits Act (Act) shall be considered. The selected

bank must be a qualified public depository as set forth in the Act at the time of

proposal and maintain this status throughout the life of the contract. A proposing

bank shall provide evidence of its status as a qualified public depository.

2) Bank Financial Strength:

A proposing bank shall provide evidence of its strength by showing its rank with the

Federal Reserve Board and the amount of consolidated assets, submit audited

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CITY OF FERNANDINA BEACH, FLORIDA

REQUEST FOR PROPOSAL 25-04

MANAGEMENT BANKING SERVICES

financial statements for the past two years and provide a print out from

http://www.bankrate.com/rates/safe-sound/bank-ratings-search.aspx showing their

rating.

3) Bank Location:

The bank must have a full-service branch located within the City limits.

CONTRACT STRUCTURE

The City expects to enter into a Master Banking Services agreement. The City expects the master

agreement to be supplemented by other agreements including but not limited to wire transfer,

positive pay services, stop payment, ACH, lock box, remote deposit, electronic banking

agreements, and courier service. The selected bank's proposal shall become an integral part of

the master agreement.

ACCOUNT STRUCTURE –

The City currently maintains nine accounts. The City anticipates depositing $8milion. The

account balance is projected to fluctuate by up to $4million during the month. No minimum

balance requirement above $4million will be accepted. The City requires the same structure

currently in place and described below. The Comptroller may open new accounts or close existing

accounts to facilitate the efficient and legally required flow of funds at the costs, terms and

conditions to be contracted.

Collection and Deposit Accounts:

1. General Fund: This account receives most of the general government revenues of the City.

Deposits may be in the form of cash, checks, credit and debit card, Fedwire, ACH and

book transfers. The City uses a courier service for deposits provided by the current provider at

no extra cost to the City. A proposing bank should include the cost of such service in their

Objectives and Scope of Services Response Form, Attachment “B”. The specific locations

for courier pickup include at least 8 different locations within the City; City Hall (2 Desks), Marina,

Utility Billing, Parks & Recreation, Finance, Golf and Police. Disbursements are generally

checks and wires. This account should be set up to sweep overnight balances.

2. Payroll: Bi-weekly, Friday payroll direct deposit disbursements are charged to this account.

This is a Zero Balance Account (ZBA) in which the money used to cover the payroll is drafted

from the General Fund Account. Currently, the Payroll Department processes approximately

300 direct deposit transactions bi-weekly.

3. Cemetery: This is an account established for restricted purposes. It is a checking account

with a minimal number of transactions each year.

4. FSA: This is a Zero Balance Account (ZBA) set up to track the payments for our Flexible

Spending Program offered to employees.

5. AP Solutions: This is a Zero Balance Account (ZBA) used to pay vendors via check and ACH.

6. Golf: This is a Zero Balance Account (ZBA) used for Golf Operations and includes deposits

via cash, check, ACH, wire transfers, vendor debit for purchases and credit card processing.

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CITY OF FERNANDINA BEACH, FLORIDA

REQUEST FOR PROPOSAL 25-04

MANAGEMENT BANKING SERVICES

7. Marina: This account is NOT a ZBA account. This account is used for Marina Operations

and includes deposits via cash, check, e-check, credit cards, Bendor payments via auto pay

and Bill.com.

8. E-bay: This account is NOT a ZBA account. This account maintains a minimum account

balance established for unusual or infrequent purchases or online auction transactions.

9. Fire – Ambulance: This account is NOT a ZBA account. The City’s Emergency Services

billing provider uses this account. It includes a lock box.

COLLECTION AND DEPOSIT SERVICES

Funds Availability:

The Comptroller seeks to maximize funds availability. In order to accomplish this goal, the

selected bank shall meet the following minimum cutoff and availability requirements.

Deposit Deadline/Ledger Cutoff Time:

A proposing bank shall provide deposit deadline schedules for each of its branches that will

enable the bank to implement the following ledger cutoff times.

1. A proposing bank shall provide a ledger cutoff time of 5:00p.m.(EST) on a business

day that the bank is open. The deposit will be considered a deposit for that day.

Collected Balances:

A proposing bank shall provide a timeline of ledger credit and availability for wire transfers, ACH

credits, “on us” checks and overnight sweep credit.

ACH, EFT’s, and Wire Transfers Incoming:

The RFP should include a wire transfer agreement. The agreement shall reflect that the selected

bank agrees to the standard of 'simple negligence'. The City receives receipts through the ACH,

EFT’s, and Fedwire systems in its accounts on a regular basis. Receipts are received from

payment card settlements, various customers, federal and state agencies, and from maturing

investments. A proposing bank shall report ACH payment messages on the bank statements. The

bank shall be capable of reporting ACH payment, EFT, and Fedwire messages in total on its web-

based banking system. The bank shall report transaction confirmation numbers on its web-based

banking system. The bank shall provide book transfer capability on its web -based banking

system to transfer money between accounts at the bank.

ACH Debit Block:

The bank must be able to provide ACH Debit Block service to prevent unauthorized persons or

companies from electronically debiting out bank accounts.

Returned Items:

All returned items shall be automatically redeposited a second time. Items returned a second

time shall be forwarded to the Finance Department.

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CITY OF FERNANDINA BEACH, FLORIDA

REQUEST FOR PROPOSAL 25-04

MANAGEMENT BANKING SERVICES

Overdraft Account Remediation:

It is not the intention of the City to overdraw any accounts. In the event of an overdraft,

all checks presented for payment shall be paid. The City Comptroller or designee shall

confirm wires or ACH transfers that will remedy such overdraft. The bank shall complete

the wire/ACH transfer after confirmation. Service Fee to be charged to the City for

overdrafts shall be provided on the Fee Analysis Schedule and the instrument shall be

honored.

Deposit Reconciliation:

Only banks with the capability of providing deposit reconciliation services on a web-based

banking system shall be considered. Each deposit ticket shall bear a number representing the

depositing location and a unique serial number. A proposing bank shall have the capability to

capture and report both identifying numbers.

Lock Box:

Proposals should include a Lock Box agreement. The City currently utilizes this feature to

process payments for EMS billings and utilities.

Remote Deposit:

Proposals should include an Express Deposit agreement. The checks from several of the

City departments/locations currently use this service. The proposing bank should provide

the hardware for this service at no cost to the City.

DISBURSEMENT SERVICES

Positive Pay Services:

As additional fraud protection over the City’s checks, the Comptroller desires to negotiate a

positive pay services agreement with a no-pay default option. The agreement shall reflect that the

selected bank’s positive pay system be implemented at its teller lines. The bank shall report

discrepancies electronically through its web-based banking system. The City shall provide an

affirmative or negative response for each ‘exception check’.

Check Reconciliation:

Only banks with the capability of providing partial and full check reconciliation services on a web-

based banking system shall be considered. Check reconciliation services may be part of a proposing

bank’s positive pay service.

Stop Payment and Date Legend:

The RFP should include a stop payment agreement. The agreement shall reflect a lifetime stop

payment order.

The City shall imprint its checks with the following date legend, “This check must be cashed within

180 days pursuant to the Uniform Commercial Code”, or other similar language agreed to by the

Comptroller and selected bank. The stop payment agreement shall reflect the bank agrees to the

standard of ‘reasonable care’ in honoring date legended checks.

ACH and Wire Transfers Outgoing:

The RFP should include a wire transfer agreement. The agreement shall reflect that the

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CITY OF FERNANDINA BEACH, FLORIDA

REQUEST FOR PROPOSAL 25-04

MANAGEMENT BANKING SERVICES

selected bank agrees to the standard of ‘simple negligence’. The City disburses vendor

payments electronically through ACH and wire transfers on a regular basis. Electronic

payments are made for payroll direct deposit, federal and state tax liabilities, debt service,

purchases of investment securities, and others. The bank shall memo-post ACH transfers

immediately for later settlement and execute wire transfers within 15 minutes after

placement. The bank shall promptly notify, by telephone, the Comptroller’s designated

contact of any wire failures. The bank shall report ACH payment messages on the bank

statements. The bank shall be capable of reporting ACH payment and wire transactions on

its web-based banking system. The bank shall report transaction confirmation

numbers on its web-based banking system.

ACCOUNT MAINTENANCE - web based

Electronic Banking:

Only banks capable of providing full-service web-based banking shall be considered. Web-based

banking services are required to run on a secure internet browser and be hosted at the banking

facility. Electronic banking services shall include but not be limited to detail and summary balance

reporting of balances at the end of the previous banking day, stop payments, checks paid, wire

transfers, positive pay, ACH transactions, EFT transactions, check reconciliation, deposit

reconciliation, monthly account statements, and monthly account analysis.

Account Analysis:

The selected bank shall provide a monthly pro-forma account analysis statement for the City’s

accounts. The bank shall prepare account analysis statements in the Association for Financial

Professionals’ standard format using the standard set of service codes or standard service

descriptions. The analysis will report at a minimum: services rendered, service volumes, unit

costs, extended costs, and the calculation of the earnings credit. A proposing bank should

provide its calculation of earnings credit or fee for the month of September, 2025 data and using

a combined collected balance equal to $100,000, as the City’s proposed reserve

requirement. The proposed ECR should be clearly identified. The proposing bank shall also

prepare a pro-forma account analysis for September, 2025 as per their rate structure included in

their proposal. This shall include interest income, service fees extended, include a total fees

amount and articulate compensating balances requirements.

Monthly Account Statements, Debit and Credit Memos:

A proposing bank shall prepare and render individual monthly account statements. The reporting

period shall be the full calendar month. Statements shall be available to download no later than

the 3rd day of the following month. The bank shall allow a period of 60 days or more in which the

City may notify the bank of account statement errors. The bank shall provide explanation of debit

and credit adjustments to the City within five days from the day the bank posts the adjustments

to the City’s accounts. Via e-mail to the Finance Department at FinanceDept@fbfl.city.

INVESTMENT SERVICES

In order to maximize the efficiency of idle cash balances in the accounts, only banks with the

capability to provide overnight sweep services shall be considered. (Banks need to provide

short and long-term investment advantage.) A proposing bank shall agree to automatically invest

collected balances in all accounts as of the end of the banking day in approved investment

instruments. A proposing bank shall provide one of the following overnight investments: NOW

account, money market mutual fund, or an investment instrument allowed by the City’s

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Commodity Codes

• NAICS 541611Administrative Management and General Management Consulting Services

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