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File #: 09-0926    Version: 1
Type: Agenda Item Status: Approved
File created: 7/8/2009 In control: Board of Supervisors
On agenda: 7/28/2009 Final action: 7/28/2009
Title: Treasurer-Tax Collector recommending Chairman be authorized to sign retroactive Amendment I to Agreement for Services 277-S0511 with Bank of America increasing the compensation amount by $76,800 to $460,800 and extending the term one through May 12, 2010 to provide Government Banking Services. FUNDING: General Fund.
Attachments: 1. Amend I for AGM 277-S0511.PDF, 2. Blue Routing #277-S0511 Amend I.PDF, 3. Legistar Memo.PDF, 4. AGM 277-S0511.PDF
Title
Treasurer-Tax Collector recommending Chairman be authorized to sign retroactive Amendment I to Agreement for Services 277-S0511 with Bank of America increasing the compensation amount by $76,800 to $460,800 and extending the term one through May 12, 2010 to provide Government Banking Services.   
 
FUNDING: General Fund.
Body
BUDGET SUMMARY:
 
 
Total Estimated Cost
 
$76,800
 
 
 
     Funding
 
 
          Budgeted
$76,800
 
          New Funding
$
 
          Savings
$
 
          Other
$
 
     Total Funding Available
$76,800
 
Change To Net County Cost
 
$0.00
      
Fiscal Impact/Change to Net County Cost: No Impact
 
Reason for Recommendation: To approve the Treasurer-Tax Collector to continue contracting with Bank of America for primary government banking services in accordance with County Ordinance 3.13, Section 3.13.030.  
 
The Board of Supervisors originally approved this agreement with Bank of America for banking and credit card services on April 20, 2004 as the result of a request for proposals.  The contract provides for the full range of government banking and treasury services as well as the County's purchase card program.
 
The contract is retroactive to May due to delays caused by staff turnover at Bank of America. The Department met with Bank of America on April 15th to finalize the contract and the bank did not respond to the remaining questions until the end of June.
 
Action to be taken following Board approval: One approved original agreement to be forwarded to the Treasurer-Tax Collector's Office.  The Treasurer-Tax Collector's Office will notify Procurement of the Board's approval and send on signed original to the vendor.  
 
Contact: Louise Gresham, Assistant Treasurer-Tax Collector
 
Concurrences: County Counsel, Risk Management