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Meeting Date:
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11/14/2017 - 6:30 PM
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Category:
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ITEMS OF BUSINESS
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Type:
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Action
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Subject:
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12. Action on Request to Waive Administrative Policy 3.09(9)(e) and Contract with U.S. Bank National Association for Enterprise Banking Services
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Strategic Plan Compatibility Statement:
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Goal 3 Effective and Efficient Operations
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Attachments
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Action on Request to Waive Administrative Policy 3.09(9)(e) and Contract with U.S. Bank National Association for Enterprise Banking Services: Proposed Contract and Supporting Documents
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File Attachment:
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Background:
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The Administration is requesting authorization to waive the three-year term limit of Administrative Policy 3.09(9)(e) and enter into a contract with U.S. Bank National Association to perform the banking services of the District.
In accordance with 3.09(7)(e)1a, the District has not directly engaged in a competitive procurement process for these services. Instead, these services will be obtained pursuant to Wisconsin State Contract 505ENT-M08-ENTBANKING-01, the result of a competitive selection process by the State of Wisconsin. Given the significant start-up costs, new processes and procedures inherent in a banking relationship, the contract will run for a five-and-a-half year term; from March 25, 2018 to June 30, 2023.
The total cost of the contract will not exceed $20,600 annually. This expenditure will be offset by interest earnings and earning credits on the average daily balances on deposit with the bank. The combination of the earnings credits and interest earnings, offset against the cost of banking services, will result in the lowest net cost of services to the District.
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Fiscal Impact Statement:
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FSC-0-0-BSF-DW-EDDU (Contract - Board Funding) = $113,300
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Implementation and Assessment Plan
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Upon approval by the Board, the contract will begin as indicated in the attachments.
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Recommendation:
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The Administration recommends that the Board authorize the waiver and contract as set forth in this item.
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Approvals:
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Recommended By:
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Signed By:
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Kari H. Race - Procurement Supervisor II
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Signed By:
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Aaron Konkol - Director I, Procurement and Risk Management
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Signed By:
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Regina Flores - Contract Compliance Supervisor II
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Signed By:
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Dr. Darienne Driver - Superintendent
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