HomeMy WebLinkAbout2017-097 CCRMember April Graves introduced the following resolution
and moved its adoption:
RESOLUTION NO. 2017-97
RESOLUTION ADOPTING AMENDMENTS TO THE FINANCIAL POLICIES
SECTION OF THE BROOKLYN CENTER CITY COUNCIL CODE OF
POLICIES
WHEREAS, the City Council of the City of Brooklyn Center adopted a Schedule
for Professional Services Policies on October 18, 2006 included in the City Council Code of
Policies; and
WHEREAS, revisions to Sections 2.80 Policy and Procedure on Requests for
Proposals for Financial Professional Services have been reviewed by the City Council.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota that the amended Section 2.80 Policy and Procedure on Requests
for Proposals for Financial Professional Services attached hereto as Exhibit 1 be incorporated
into the Code of Policies and hereby adopted.
June 26, 2017
Date
ATTEST:
City Clerk
Mayo - Pro Tem
The motion for the adoption of the foregoing resolution was duly seconded by member
Marquita Butler
and upon vote being taken thereon, the following voted in favor thereof:
Dan Ryan, Marquita Butler, April Graves, Kris Lawrence -Anderson
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
RESOLUTION NO. 2017-97
Cit} Council Code of Policies
SCHEDULE FOR PROFESSIONAL SERVICES POLICIES
2.80 Policy and Procedure on Requests for Proposals for Financial Professional Services
1. Need for Policy
The City needs a policy and procedure to provide for the orderly conduct of requesting
proposals for professional services for handling financial affairs, to ensure that all services
will be periodically reviewed, and that the proper balance will be maintained between cost
and quality of services.
2. Policy
A. All professional services in the area of City finances will be periodically let out for
request for proposals (RFPs) according to an established schedule.
B. Service levels will be monitored by the City Council and Staff and if unsatisfactory
service is received, that contract will be re -advertised prior to the year set in the
schedule.
C. Quality of service will be the primary factor in awarding a contract for professional
service, but cost will also be a determinant.
3. Procedure
A. A schedule shall be established for the conduct of RFPs. The schedule should be
adhered to unless there is a performance problem or other justification for an earlier
RFP. Going to the market too frequently with RFPs expends Staff time, requires
extensive orientation of new professionals, and discourages quality firms from
submitting proposals at their most attractive price since they will expect to only have
the contract for a short time.
B. Specifications tailored to the professional service to be advertised will be prepared by
Staff, reviewed by the Financial Commission, and approved by the City Council.
C. A review committee made up of the City Manager and Finance Director shall review
proposals for Banking Services, Insurance Agent, Risk Management Consultant, and
Custodian for Investment Securities. Proposals for Auditor and Financial Advisor
shall be initially screened by Staff, and then reviewed by a committee of City Council
Members and Financial Commission Members appointed by the Mayor in consultation
with the Chair of the Financial Commission, with the approval of the City Council,
which committee shall also include the City Manager and Finance Director.
D. The specifications will emphasize the abilities, qualifications, and experience of the
applicant firms to provide high quality service to the City. Price will be considered
after one or more applicants have been identified as providing the desired quality of
service. When appropriate, the specification shall require prices to be submitted in a
RESOLUTION NO. 2017-97
SECTION II - GENERAL POLICIES
City Council Code of Policies
separate, sealed envelope to be opened after applicants have been ranked according to
quality.
E. The City Manager shall make a recommendation to the City Council of a provider to
be appointed to a multi-year engagement. It shall be written in the engagement that
the appointment may be terminated earlier.
Sehedule for Requests for- Propos
Fln(1neial Serviee
Type of Serviee F -i„ afleial Bankin insurance- gent Risk r,r...,....emeiA Custodian-ki Audi -to;
ni--cv-risof fbi SOFViCeS Gonsultan invesiz-.„ienn*
veve--'c lilies
Usual interwil
Most Recent DT. D -2044 -200-2 200 200 4-9-98 zHtft-
^�tltltl
RFP
2N8 PIP,
ono RFI'
20M USD
24M trF n��
244 RFP
2M RFP
Y
^nV4
I'ct-t- RFP Y Vnn-/M %�
�tl-2tl 2F P
24P RF -P
*Aw# A .b a h h h ntl. withdr-e , after the FY 2001 audit
arcrca�ac-fv-iavzvwc-rr��rriv�cn�a�'.quo....� ........... .. »...,. ...., . _ ..»»...
Balanee of engagement awarded+ barn Tatitges Redpath for FY 2002 FY 2006
Refet•ence: City Council Resolution Nos. 2006-120; 2000-120; 99-20; City Council Minutes 5/28/96
Schedule for Requests for Proposals
Financial Services
Tvae of Service
Financial
Advisor for
Bond Sales
Bankin>:
Services
Insurance Agent Risk Management
Consultant
Custodian for
Investment
Securities
Auditor
Usual Interval
between RFPs
6 years
6 years
6 ears 6 years
6 ears
6 vears
Most Recent RFP
2017
2015
2017 2003
2012
2014
2018
RFP
RFP
2019
2020
RFP
2021
RFP
2022
2023
RFP
RFP
2024
RFP
RFP
2025
2026
RFP
RFP
2027
2028
2029
1 RFP
RFP
Refet•ence: City Council Resolution Nos. 2006-120; 2000-120; 99-20; City Council Minutes 5/28/96