The two proposals, submitted to the commission through the clerk's office, are available on the county's website.
A week after receiving proposals for financial services from two of the Lake of the Ozark’s biggest banks, the Camden County Commission published a Request For Qualifications regarding banking on July 17, possibly adding more bidders into the mix.
On Monday, July 10, the commission tabled the two proposals until the auditor’s and collector’s offices could review the contracts for further discussion to ensure the county would be following First Class regulations for the professional service.
The two proposals, submitted to the commission through the clerk’s office, are available on the county’s website. It is unclear at this time why the county is requesting RFQs as no scope of services has been defined.
The two banks both already provide some services to the county. The proposals from the banks do provide individual sales pitches with multiple facets for consideration.
“The first part of the proposal contains information and pricing on the banking services you have requested in your bid request. The second part consists of other financial products you may be interested in today or in the future,” according to the proposal from Central Bank of the Lake of the Ozarks.
“We believe that no other financial institution has the capability to provide the services you desire in a single turnkey operation. Furthermore, we would like to increase the depth of our relationship with the county to include all your employees. For this reason, we will offer all of your employees and staff, one free checking account with a free twenty-five dollar ($25) gift card.”
According to First National Bank’s proposal, the financial institution provided a certified check in the amount of two thousand five hundred dollars ($2,500) with the proposal “as requested.” The Central Bank of the Lake of the Ozarks bid not mention providing a certified check along with its proposal, according to the Commission meeting minutes from July 10.
“The Bank is providing this proposal on the fact the term of the request is for four years (August 1, to July 31, 2021), and all the Camden County funds are included. The activity service fees for the requested responsibilities will be waived by maintaining the stated 2016 monthly account balances in your proposal of approximately six million dollars ($6,000,000) in the Camden County operating account,” according to First National Bank.
“First National Bank will continue to provide ACH origination for payroll purposes from your desktop with current pricing of $49.95 per month for unlimited batches and unlimited items.”
The commission has scheduled two meetings for Thursday, July 20, with First National Bank and Central Bank of Lake of the Ozarks at 11 a.m. and 2 p.m., respectively, to further discuss the proposals and possibly make a decision afterwards.