KENAI PENINSULA BOROUGH - FINANCE DEPARTMENT
TO: Timothy Navarre, Assembly President, and Members of the Kenai Peninsula Borough Assembly.
THRU: Dale Bagley, Mayor
FROM: Jeff Sinz, Finance Director
DATE: March 19, 2002
SUBJECT: Additional Information - Banking Services RFP
The following is a summary of the evaluation process associated with the RFP for banking services for the Borough and School District.
The RFP was sent to three banks with branches located on the Kenai Peninsula - Key Bank, First National Bank of Alaska (FNBA), and Wells Fargo. Proposals were received from all three banks. A selections committee consisting of Borough, School District, and South Peninsula Hospital personnel evaluated the proposals. Each bank was then invited to do an oral presentation giving an overview of their organization, descriptions of their banking products and services, and a demonstration of their online/electronic banking products. Finally, each bank was asked to submit a best and final offer. Based on the proposals, oral presentations, and cost proposals, the evaluation committee has assigned the following scores:
| Category |
FNBA |
WELLS FARGO | KEY BANK |
| Required Services |
188.5 |
169 | 183.5 |
| Optional Services |
41 |
40 | 42 |
| References |
46 |
42.5 | 45 |
| Total Technical |
275.5 |
251.5 | 270.5 |
| Compensating Balance |
81 |
100 | 48.5 |
| Overnight Repo Rate |
100 |
85 | 82 |
| Total Cost |
181 |
185 | 130.5 |
| Total |
456.5 |
436.5 | 401 |
Page 18 of the banking RFP states that the contract will be awarded to the bank whose proposal receives the highest score. Therefore, it is recommended that the FNBA proposal be accepted and they be awarded the contract.