CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Business and Financial Services 		For Meeting of:
August 6, 2018
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Amendment to Extend Contract with Bank of New York Mellon (BNYM) for Master Custody Services, RFP13-0513
Summary:

The contract with Bank of New York Mellon (BNYM) for Master Custody Services for General Investment, OPEB Trust Fund, Bond Reserve Accounts, and Pension Investment Portfolios, expires on September 30, 2018.  The Treasury Division is requesting approval to extend the current contract for an additional two (2) years through September 20, 2020.  The estimated annual amount is $315,000.00.  

 

This extension will allow time for the City to work on the procurement and implementation of a new Pension Administration system during the next year.  The new Pension Administration system will take over a year to complete, and there are not enough resources to concurrently manage the procurement and implementation of both Master Custodial Services and Pension Administration system.

 

Due to the nature of these financial services, there are no opportunities for M/WBE subcontract participation.
Fiscal & Efficiency Data:
Recommended Action:

Authorize the Chief Procurement Officer to execute an amendment to extend the contract with Bank of New York Mellon (BNYM) as indicated above, subject to review and approval by the City Attorney’s Office.
Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact: David Billingsley, Janiero Coulter (for M/WBE questions)
Approved By:

Department Date and Time
Budget Outside Routing Approval 7/25/2018 12:52 PM
City Clerk 7/25/2018 1:00 PM
ATTACHMENTS:
Name: Description: Type:
Fiscal_Impact_Statement_RFP13-0513.doc FIS RFP13-0513 Backup Material
MWBE_Award_Approval_memo_extension_of_contract_RFP13-0513_BNY_Mellon.pdf M/WBE Memo Backup Material
BNYMellon_Extension_Memo_to_Procurement_7.20.18.pdf Extension Request memo RFP13-0513 Backup Material
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