Title
Treasurer-Tax Collector’s Office recommending the Board:
1) Find that the provision of Countywide financial services continues to be more economically and feasibly performed by outside independent banks, in accordance with El Dorado County Ordinance Code Section 3.13.030, by El Dorado County Charter, Section 210(b)(6) and Government Code Section 31000; and
2) Approve and authorize the Chair to sign Amendment II to competitively procured Agreement 5924 with Bank of America for Countywide financial services extending the term by 90 days with no change to the amount to provide both parties with the necessary time to finalize a new contract based on a Notice of Intent to Award Request for Proposal (RFP) No. 2026-0100.
FUNDING: General Fund.
Body
DISCUSSION / BACKGROUND
The Treasurer-Tax Collector's (TTC) Office conducted a competitive selection process in 2021 to ensure the County obtained the best products and services for the lowest possible cost. On September 28, 2021, with Legistar file 21-1493, the Board awarded RFP No. 21-946-032 to Bank of America and signed Agreement 5924 with an original term of September 28, 2021 through September 27, 2024with an option to renew for an additional two years for a maximum 5-year term expiring on September 27, 2026.
On December 10, 2024, with Legistar file 24-1836, the Board approved Amendment I to Agreement 5924 to extend the term for two years which updated the expiration date to September 27, 2026.
The TTC Office conducted a competitive selection process in 2026 to continue to ensure the best product and services are delivered at the lowest possible cost. A Notice of Intent to Award RFP No. 2026-0100 was issued to Bank of America and additional time is required to finalize the new contract.
The Treasurer-Tax Collector's Office recommends the Board find, in accordance with Government Code Section 31000, that the County's economic interests are served by contracting out financial services, and that the Board make ...
Click here for full text