CARMEL, IN – Carmel Clerk Treasurer, Christine Pauley, has initiated the source selection process of reviewing quotes from 11 financial institutions and will select a financial institution partner to handle municipal banking for the City of Carmel.
“I take my role as a steward of the tax payers’ dollars very seriously and wanted to find the most cost effective banking option available while maintaining the high standards of customer service to the citizens of Carmel. I made a campaign promise to be more open and transparent with our public financial information in addition to allow all banks to have a place at the negotiating table and this was one step in that journey. “Our decision to allow for full and open competition of the City’s financial services needs have produced proposals from both small local banks to large regional banking institutions which will provide significant savings while offering additional services to Carmel’s City Government banking needs,” said Clerk Treasurer Pauley.
All proposals were evaluated based upon the City’s requirements outlined in its Request for Proposal which included pricing, added services offered, scheduling requirements, technology to name just a few of the evaluation factors. “The city is currently holding discussions with the top three financial institutions which provided the most competitive proposals most advantageous to the citizens of Carmel” added Pauley. Pauley anticipates an announcement by April 7, 2016.
All proposals were evaluated based upon the City’s requirements outlined in its Request for Proposal which included pricing, added services offered, scheduling requirements, technology to name just a few of the evaluation factors. “The city is currently holding discussions with the top three financial institutions which provided the most competitive proposals most advantageous to the citizens of Carmel” added Pauley. Pauley anticipates an announcement by April 7, 2016.
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