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SUBJECT: <br />103D11.1 SOl2hDt•O .1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: September 1, 1998 <br />and Contract <br />ATTACHMENT(Sp <br />Master Service Agreement <br />Deposit Reconciliation Agreement <br />Zero Balance Account Agreement <br />Account Reconciliation Agreement <br />Check Image Agreement <br />Positive Pay Agreement <br />Crucial Connection limermetion Reporting <br />Agreement <br />Direct Deposit Agreement <br />Public Fonds Investment Account Agreement <br />Action Agenda <br />Item No. q_ at <br />PUBLIC HEARING: (Y/N) <br />BUDGET AMENDMENT: (YN) <br />INFORMATION CONTACT: <br />Ken Chavlous Eat 2453 <br />TELEPHONE NUMBERS: <br />HBBbarough <br />7324181 <br />Chapel BID <br />968-0501 <br />Durham <br />688 -0331 <br />Mebane <br />227 -2031 <br />PURPOSE: To consider awarding a contract W Central Carolina Barre (CCB) for the provision of <br />banking services to Orange County. <br />BACKGROUND: In May 1998, staff int rme i the Board of Commissioners of plans to pursue a <br />request for proposm (UP) process for the provision of banking and depositary services. The <br />County Finance Director has headed this effort during to past few months. Orange County <br />mrendy uses NationsBartk to provide these services and has been in this relationship since the <br />eariy 1980s. County sniff have bcen plwsed wiN a services provided by NationsBa over the <br />and the decision to solicit proposals in no way reflects adversely on the quality of service <br />rendered. Generally acceptM governmental financial practices include periodic review and <br />assessment of on going contracts such as auditing and banking services. <br />The Finance Director circulated an UP b all names located within the boundaries of Orange <br />County. Although the UP statedthe essentiality ofa Hillsborough location, faults with other <br />locations were invited to describe how they could provide desired services without county staff <br />having W travel to another town to make deposits. Responses were received fiom five banks: CCB, <br />BB &T, first Citizens, Wachovia, and Nabomeamr. As with the UP process undermkm in 1997 <br />for auditing services, the Finance Director formed a team to review the proposals. This team <br />consisted of the finance Director, the Purchasing and Central Services Director, Revenue Director <br />and Assistant County Manager. <br />