CITY of RAPID CITY

Agenda Item Summary

 

Meeting Date: 1/28/2015

Commission, Board or Committee: Legal & Finance Committee

Staff Contact: Pauline Sumption

PW Committee or L&F Committee: 1/28/2015

Petitioner: N/A

City Council 1st Reading: 2/2/2015

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City Council 2nd Reading: Click here to enter date.

Agenda Title:

Authorize Mayor & Finance Officer to sign Agreement for Comprehensive Payroll Banking Services Agreement Between the City of Rapid City and Great Western Bank

Summary:

With the implementation of the new Tyler Technology software, the decision was made by management to require all benefited employees to be paid through direct deposit. Because our current payroll account banking provider is not able to provide accounts for all employees regardless of their credit history, the decision was made to go out for proposals. Four responses were received timely; one was received after the deadline. Of the four received timely, only two were able to meet the demand of accounts for all employees. After reviewing the two proposals, it was decided that the bank that would best meet the requirements of the request was Great Western Bank.

Funding Source & Fiscal Impact (if applicable):

Minimal fiscal impact of $100/month can be absorbed in current budget

Recommendation:

Action: Approve

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Options:

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Attachments & Links:

Agreement

RFP

 

 

 

 

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