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Midway ISD Depository Services Pre-Proposal Meeting Overview and Requirements

This document outlines the essential banking and depository services requested by Midway Independent School District. Key services include basic banking, investment preferences (with a focus on local opportunities), and credit card services, emphasizing the preference for proposals that offer unique enhancements. The District values simplicity in terms and considers costs, which constitute only 20% of evaluation criteria. Important deadlines, extension policies, and revised proposals are also detailed, emphasizing the importance of realistic data and clear communication throughout the process.

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Midway ISD Depository Services Pre-Proposal Meeting Overview and Requirements

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  1. Midway ISD Depository Services Pre-Proposal MeetingApril 12, 2013

  2. Services Requested • Depository (basic banking) • This is the essential part of the contract • Must have these services • Investments • District prefers to invest locally • District prefers to go through depository contract • District reserves the right to invest outside of depository contract at all times • Credit card services • District prefers to go through depository contract but other providers are available • Not a mandatory part of the contract

  3. Difference Between Proposals and Bids • Proposals allow providers to offer unique services, ideas, etc. that enhance their ability to serve over competitors • The District has the right to negotiate between different providers • Essential data will be provided to all parties

  4. Monthly Fees and Other Data • The proposal documents disclose the activity available to the District • Use this data as is unless the proposal can show clear evidence that the activity can be changed • The District understands that predictions of future events is subject to error, but expects due diligence in presenting realistic data • Unrealistic estimates will distract from the overall evaluation of the proposal

  5. Investments • The District understands that the depository may want to limit the amount of investments that would be allowed at certain rates of return • Make sure the proposal sets out any limitations • The investment balances provided in the proposal documents was intended to show the potential investments of the District

  6. Criteria for Award • Simplicity of services and terms: • The District places value on simple, easily understood terms, particularly with investments • Cost of Services • Cost of services is only 20% of the evaluation criteria • Cost includes the cost to change depositories • If everything else is equal, cost will have to be reduced to justify a change in depository

  7. Extension of Contract • State law allows up to two extensions for two years each • District prefers to extend if services are satisfactory and market conditions do not warrant new proposals • Modifications will be allowed at the time of extension if they are to the advantage of the District based on conditions at the time of the extension • The current contract has had modifications since acceptance

  8. Key Calendar Dates • April 22nd – Deadline for questions • April 25th – Response by District to all questions • May 2nd – Deadline for proposal submission • May 21st – District recommendation to award contract • September 1st – beginning of contract

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