Title and Board Action Requested
title
Approve the piggyback of the Kissimmee Utility Authority (KUA), RFP No. 21-040-VS: Banking Services, awarded to Regions Bank and approve the piggyback agreement with Regions Bank for the District Visa Card Program for an estimated $70,000.00 in Visa Card rebates.
body
Executive Summary
The Director of Purchasing and Warehousing, on behalf of the Superintendent of Schools, hereby requests the Board approve the piggyback of the Kissimmee Utility Authority (KUA), RFP No. 21-040-VS: Banking Services, awarded to Regions Bank and approve the piggyback agreement with Regions Bank for the District Visa Card Program. Under this agreement, Regions Bank will continue to provide all credit card services for the District’s Purchasing Card Program. There are no fees associated with this program. Regions Bank provides a “Revenue Share” program based on the total annual spending by the District. It is estimated that rebates could reach $70,000.00 annually.
HCSB Bid No. 26-946-26 PB has been assigned for internal tracking purposes.
My Contact
Christopher Reckner
Director of Purchasing & Warehousing
(352) 797-7060
2023-28 Strategic Focus Area
Priority 5: Fiscal Transparency and Capital Planning
Financial Impact
See attached budget sheet.
If expenditure is not currently budgeted, this will serve as the budget amendment when Board approved. If the agenda item includes the purchase of goods or services, the funds requested are an anticipated amount and may fluctuate depending on such factors as current market conditions, product availability, additional funding sources, and the needs of the District. Should the actual cost exceed the anticipated amount, the Board approves the additional cost, after review by the superintendent, but not in excess of the funds available in the site’s approved annual budget.