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2017-55 Wells Fargo Banking Services Contract ExtensionRESOLUTION 2017-55 A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA, APPROVING AN INTERIM BANKING SERVICES CONTRACT WITH WELLS FARGO BANK, N.A. AND AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE SAME; PROVIDING FOR CONFLICTS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, based on the proposals submitted in response to the Village's Request for Proposals, through the adoption of Resolution No. 2013-26 on May 9, 2013, the Village entered into a Master Agreement for Banking Services with Wells Fargo Bank, N.A.; and WHEREAS, the Agreement has expired and the parties desire to enter into an Interim Banking Services Contract retroactive to July 31, 2017 through May 31, 2018 at no net increase in cost to the Village; and WHEREAS, Village Administration recommended executing the Interim Banking Services Contract until such time as the Village could issue a new RFP; and WHEREAS, the Village Council determines that the adoption of this Resolution is in the best interests of the residents and citizens of the Village of North Palm Beach and hereby waives any conflicting purchasing rules and regulations. NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM BEACH, FLORIDA as follows: Section 1. The foregoing recitals are ratified as true and incorporated herein. Section 2. The Village Council hereby approves the Interim Banking Services Contract with Wells Fargo, N.A., retroactive to July 31, 2017, and authorizes the Mayor and Village Clerk to execute the Interim Banking Services Contract on behalf of the Village. Section 3. All resolutions or parts of resolution in conflict with this Resolution are hereby repealed to the extent of such conflict. Section 4. This Resolution shall be effective immediately upon adoption. PASSED AND ADOPTED THIS IOT' DAY OF AUGUST, 2017. (Village Seal) AYOR ATTEST: VILLAGE CLERK Government and Institutional Banldng MAC Z6344-070 450 S. Australian Ave., 711, FL. West Palm Beach, FL 33401 wellsfargo.com July 19th, 2017 Sarnia Janjua, Finance Director Village of North Palm Beach Florida 501 U.S. Highway One North Palm Beach, FL 334o8 Subject: Interim Banking Services Contract Dear Ms. Janjua: This letter is to confirm the agreement between the Village of North Palm Beach (the "Village") and Wells Fargo Bank, N.A. (the "Bank") to enter into an interim extension of the Village's Master Services Agreement dated May 9th, 2013 (the "Banking Services Contract") Whereas the Banking Services Contract and previous extensions have expired, both parties are in agreement that the attached pricing and rate will be "locked in" for a period of ten (1o) months, commencing July 31, 2017 and concluding May 31, 2o18. Except as specifically described above, all other terms of the Banking Services Contract will apply during the interim extension period. If you are in agreement, to complete our files we will attach a copy of this letter, signed and dated at the bottom, to the agreed upon (attached) pricing schedule. Thank you for your confidence in us. We value our relationship With the Village of North Palm Beach and look forward to continuing to serve your banking needs. Best Regards, Latosha Wedderburn, AVP Relationship Manager Wells Fargo Bank, N.A. Government & Institutional Banking PH (561) 650-2368 E-mail: latosha.wedderburn@wellsfargo.com Village of North Palm Beach Acceptance: Printed Name: Darryl C. Aubrey, Mayor Signatin•e:)KtAAM6 P,�J, > n Date: © 2015 Wells Fargo Bank, N.A. All rights reserved. Together we'R .. far i Apr 2017 Wells Fargo Treasury Management Pro Forma Village of North Palm Beach ANALYSIS SUMMARY AFP Average Positive Collected Balance $ 9,317,166.35 Reserve Requirement @ 0.00% $ 0.00 Investable Balance Available for Services $ 9,317,166.35 Monthly Analyzed Charges $ 2,789.12 Earnings Allowance @ 0.40% $ 2,789.12 Net Monthly Analyzed Charges $ (0.00) 'Monthly Fee Based Charges $ 0.00 Total Monthly Analyzed Charges $ (0.00) "Charges not offset by balances 2 192.00 Investable balance required to offset $1.00 of analyzed charges $ 2,977.67 Balance required to offset all analyzed charges $ 8,305,063.77 SERVICE DETAILS WF AFP Service Code Code Service Description Unit Price Volume Charges IAMTH 000230 RECOUPMENT MONTHLY 0.12750 9,325 1,188.94 BALANCE & COMPENSATION INFORMATION Subtotal 1,188.94 CK001 010000 ACCOUNT MAINTENANCE W/ CHK RETURN 96.00000 2 192.00 22051 010000 ACCOUNT MAINTENANCE-CHEXSTOR 5.00000 1 5.00 DS510 010020 ZERO BALANCE MASTER ACCOUNT MAINT 45.00000 1 45.00 DS001 010021 ZERO BALANCE MONTHLY BASE 23.75000 2 47.50 CK021 010100 DEBITS POSTED 0.21000 58 12.18 CK049 010310 DDA STATEMENT - PAPER 1.36000 3 4.08 GENERAL ACCOUNT SERVICES Subtotal 305.76 As of Apr 2017 Pro Forma CK161 100000 CASH DEPOSITED IN BRANCH/STORE 0.00125 63,095 78.87 CK197 100048 PER CHANG ORDER FEE IN BRANCH/STORE 6.00000 1 6.00 CK141 100048 CASH ORDERED IN BRANCH/STORE 0.00200 72 0.14 CK064 100414 CEO RETURN ITEM SERVICE MTHLY BASE 0.00000 3 0.00 CK061 100400 RETURN ITEM - CHARGEBACK 8.00000 2 16.00 34239 100410 CEO RETN ITEM SUBSCRIPTION OPT DETL 0.00000 2 0.00 34235 100410 CEO RETN ITEM SUBSCRIPTION PER ACCT 0.00000 3 0.00 08052 100000 BRANCH/STORE/NIGHT DROP DEPOSIT 0.50000 282 141.00 001 100220 DEPOSITED CHECKS - ON US 0.07000 118 8.26 002 100223 DEPOSITED CHECKS 0.07000 516 36.12 12670 150410 DEPOSITORY SERVICES Subtotal 3.50000 3 286.39 DS191 150122 PAYEE VALIDATION STANDARD -ITEM 0.00000 385 0.00 22810 150500 WF CHK CASHED FOR NONACCT HOLDER 0.00000 1 0.00 22642 151100 DDA SERIAL SORT - ITEM 0.31000 385 119.35 DS501 151199 DDA SERIAL SORT MONTHLY BASE 39.50000 1 39.50 22030 150412 STOP PAYMENT -AUTO RENEWAL 3.00000 5 15.00 34336 150723 POSITIVE PAY EXCEPTION - CEO IMAGE 2.00000 5 10.00 12815 151352 CEO IMAGE VIEW > 90 DAYS - ITEM 3.50000 1 3.50 22225 150240 CHECK CASHING THRESHOLD MO BASE 0.54000 1 0.54 12682 150120 POSITIVE PAY ONLY- ITEM 0.06000 513 30.78 12681 150030 POSITIVE PAY ONLY MONTHLY BASE 37.00000 2 74.00 12670 150410 STOP PAYMENT - ONLINE 3.50000 3 10.50 22068 159999 CHECKS RETURNED W/STATEMENT-ITEM 0.03000 431 12.93 22202 150100 DDA CHECKS PAID 0.20000 431 86.20 27707 150400 CEO SEARCH 0.05000 31 1.55 PAPER DISBURSEMENT SERVICES Subtotal 403.85 12687 209999 ARP AGED ISSUE RECORDS ON FILE -ITEM 0.00700 141 0.99 12903 200399 POSITIVE PAY EXCEPTIONS - ITEM 5.00000 7 35.00 PAPER DISBURSEMENT RECON SERVICES Subtotal 35.99 CK018 250201 ELECTRONIC CREDITS POSTED 0.19000 281 53.39 34340 250400 ACH CEO RETURN SUBSCRIPTION -ACCOUNT 0.00000 2 0.00 As of Apr 2017 Pro Forma ES344 250202 ACH RECEIVED ITEM 0.01000 270 2.70 ES803 250500 ACH PAYMENTS ONLINE BATCH RELEASE 10.50000 10 105.00 34377 250000 ACH PAYMENTS BASE FEE 2.98000 2 5.96 ACH1 D 250102 ACH PAYMENTS ONE DAY ITEM 0.14000 263 36.82 ACHYD 250102 ACH PAYMENTS SAME DAY ITEM 0.21000 15 3.15 ACH21D 250102 ACH PAYMENTS TWO DAY ITEM 0.14000 457 63.98 34333 251050 ACH CEO FRAUD FILTER REVIEW MO BASE 15.00000 3 45.00 34335 251053 ACH CEO FRAUD FILTER REVIEW - ITEM 0.76000 1 0.76 ES481 250302 ACH NOC - INFO REPORTING ADVICE 3.50000 10 35.00 34330 250703 ACH CEO SUBSCRIPTION - ACCOUNT 0.00000 5 0.00 34332 250703 ACH CEO SUBSCRIPTION - ITEM 0.04000 48 1.92 GENERAL ACH SERVICES Subtotal 353.68 34240 300524 CEO EDI PMT DETAIL SUBSC MO BASE 0.00000 1 0.00 EDI PAYMENT SERVICES Subtotal 0.00 34205 350402 WIRE DETAIL RPT SUBSCRIPTION -ACCT 0.00000 1 0.00 34207 350402 WIRE DETAIL RPT SUBSCRIPTION -ITEM 1.00000 3 3.00 ES030 350300 WIRE IN - DOMESTIC 7.00000 2 14.00 ES139 350104 WIRE OUT DOMESTIC - CEO 11.00000 1 11.00 WIRE & OTHER FUNDS TRANSFER SERVICE Subtotal 28.00 34123 4002ZZ CEO EVENT MESSAGING SERVICE - EMAIL 0.04000 142 5.68 34120 400003 CEO INTRADAY SUBSCRIPTION MTHLYBASE 0.00000 3 0.00 34100 400000 CEO PREV DAY SUBSCRIPTION MTHLYBASE 25.00000 3 75.00 34115 400001 CEO PREVIOUS DAY ITEM LOADED 0.08000 1,061 84.88 34253 400800 ELECTRONIC WINDOW EXTENDED STOR 120 0.01000 2,095 20.95 INFORMATION SERVICES Subtotal 186.51 Total Analyzed Charges (0.00) *Total Fee Based Charges 0.00 Total Service Charges 2,789.12 As of Apr 2017 Pro Forma