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Randall County authorizes RFP for bank depository services; evaluation committee named
Summary
The court approved specifications to solicit proposals for bank depository services and named an evaluation committee including county auditor and treasurer; responses due June 18 with award expected in late June or July.
Randall County Commissioners Court approved May 13 the specifications to solicit proposals for the county’s bank depository services and named an evaluation committee to review submittals.
Staff explained state law allows counties to solicit two‑ or four‑year depository contracts and that the county has historically used a four‑year option. The evaluation committee will include the county auditor, county treasurer and representatives from HR and the tax office; committee members will score proposals against a published criteria matrix and return a recommendation to the court.
Why it matters: A bank depository contract governs where county funds are held and the financial services available to county offices. Staff said responses will be due June 18 and the committee will evaluate submissions and recommend an award in late June or July.
The court approved the solicitation specifications unanimously. Staff said bidders may propose two‑ or four‑year terms and the evaluation criteria will weigh factors such as financial stability and net rate of return.
Next steps: The county will release the solicitation May 15, accept proposals through June 18, and the evaluation committee will present ranked recommendations to the court for award.
