t
Recommendation of Award, Lockbox Services P2018000007
b
The Albuquerque Bernalillo County Water Utility Authority issued the subject Request for Proposals (RFP) to solicit proposals from qualified vendors to provide lockbox services.
The RFP was posted on the Sicomm website and advertised in the local newspaper. Two responses were received and submitted for evaluation. The Ad Hoc evaluation committee reviewed, evaluated and scored the responses in accordance with the evaluation criteria published in the RFP.
The responses were reviewed, evaluated and scored by an Ad Hoc committee consisting of Jeffrey Li, Treasurer; Cilia Aglialoro, City Treasurer; Hobert Warren, Customer Services Division Manager; and Yvonne Lara, Assistant Customer Services Manager. The committee recommended the award of a contract to Bank of Albuquerque, as that company had the highest composite score, is qualified to perform the work and meets the requirements of the RFP.
FISCAL IMPACT:
Fees for lockbox services are budgeted in the FY19 Operating Budget. The final fees will be negotiated as submitted in the cost proposal, but any increases will be more than offset by a higher level of earnings credits paid on deposit balances. Net savings should be realized.