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HomeMy Public PortalAboutSuntrust agreement Cit y Tybee of Island Proposal Response Banking Services .RFP #2010 -614 Due: March 5, 2010 lefr/ '' °x � SU TRUST SunTrust Bank Member FDIC. ©2007 SunTrust is a federally registered service mark of SunTrust Banks, Inc. Table of Contents Section I Banking Services RFP #2010 -614 Section II Fee Proposal The information included in this proposal is intended solely for the entity to which it is addressed and may contain confidential or privileged material. Any review, retransmission, dissemination, or other use of, or action taken in reliance upon, this information by persons or entities other than the entity to which it is addressed is prohibited. If you have received this proposal in error, please contact the sender. ly f�. t4�1 i' s p 1. I !'P l �r N f 4 L d i t 4 CITY OF TYBEE ISLAND REQUEST FOR PROPOSAL FOR BANKING SERVICES 2010 -614 CITY OF TYBEE ISLAND P 0 BOX 2749403 BUTLER AVE TYBEE ISLAND, GA 31328 INTRODUCTION I. PURPOSE AND SCOPE The City of Tybee Island is seeking proposals from qualified banking institutions (the "bank ") to provide various banking services for a period of at least FOUR (4) YEARS as described herein. The objective is to identify the banking institution(s) that can offer the most comprehensive services at the most competitive rates. It is the City of Tybee Island's intent to maintain most banking services with one bank. Agreed II. ELIGIBLE BANKS The banking institution must maintain its home office or a full service branch office within the boundaries of Savannah, Georgia. Please provide the distance of your nearest bank branch to City of Tybee. The banking institution must maintain a portfolio of investments sufficient to collateralize all City of Tybee deposits in excess of FDIC coverage and in accordance with Georgia Statutes, and Attorney General Opinions. All collateralized securities must be held in safekeeping at a fmancial institution in the State of Georgia or in the Federal Reserve Bank SunTrust Bank is qualified to bid on your request for proposal for banking services. We maintain a full service office less than 8 %2 miles away from Tybee Island and we have an ATM/Night Depository on Tybee Island for your convenience. The SunTrust Wilmington Island office is located at: 324 Johnny Mercer Blvd., Savannah, GA 31410. The ATM/Night Depository is located at: 304 First Street, Tybee Island, GA 31320. Public Funds in excess of FDIC coverage will be collateralized utilizing the Georgia Pledging Pool Method in accordance with Georgia Code. 1 I Under the Georgia Pledging Pool rules SunTrust maintains a Joint Custody Account at the Federal Reserve Bank in the name of Georgia Office of the Treasury and Fiscal Services in which collateral securities are held. We maintain collateral with a minimum market value of 110% of the total amount of time and demand deposit account balances for all the pledging pool participants combined, less applicable deposit insurance. All instruments used to secure Georgia public deposits meet the eligibility requirements set forth in Georgia Code. III. PROPOSAL FORMAT A proposer must follow the attached format in submitting a proposal. The proposal must be completed in its entirety. Any relevant supplemental information should be included as attachments. If a bank cannot meet a service requirement, the bank should enter "No Proposal" for the specific requirement. Agreed i IV. TIMELINE (Subject to Change) RFP distributed to banks: February 12, 2010 i Proposals due from banks: March 5, 2010 Authority Award Bid: March 19, 2010 Contract Implementation: June 1, 2010 Agreed V. RESPONSE DATE Four (4) copies of your proposal must be received by City of Tybee Island no later than (March 5, 2010).Proposals must be clearly marked `BANKING SERVICES PROPOSAL ". Mail or deliver (electronic submissions will not be accepted) responses to: I Vivian Woods, City Clerk 1 City of Tybee Island 403 Butler Ave., P 0 Box 2749 Tybee Island, GA 31328 1 Late proposals will not be considered. Amendments to proposals will be considered only if they are received by the above deadline. A corporate official, legally authorized to bind the bank, must sign the proposal. Agreed VI. QUESTIONS Questions regarding the bid process or specific aspects of the RFP should be mailed, e- mailed, or sent by facsimile transmission to: 2 Mary Hogan, Finance Director City of Tybee Island 403 Butler Ave., P 0 Box 2749 Tybee Island, GA 31328912 - 786 -5832 mhogan@cityoflybee.org Agreed VII. TERM OF BANKING SERVICE AGREEMENT The City of Tybee Island is proposing a contractual agreement of FOUR (4) years. Agreed VIII. RIGHT TO REJECT PROPOSALS The City of Tybee Island also reserves the right to waive any information or irregularities in any proposal and to reject any or all proposals. Agreed FINANCIAL SERVICES OVERVIEW I. DESIRED SERVICES • On -line Reporting • Check Imaging • On -line Wire Transfers • Direct Deposit • No NSF Check Fees • No Stop Pay Fees • Coin Collection and Processing • Purchasing Cards • Free check cashing for employees and other payees We have addressed each of the bullet points above under Section IV Services Requested beginning on page 4. II. ACCOUNTS The following are accounts necessary for our fund accounting system. General Fund Payroll Account E -911 Fund Water Sewer Fund SPLOST Fund Parking Account Escrow Account Payroll Account 3 L Agreed - SunTrust Bank will provide Tybee Island with its required account structure. III. DEMOGRAPHICS Located in Coastal Georgia, approximately 20 minutes from Savannah, the City of Tybee Island is a beach community once known as "Savannah's Beach ". According to the latest census figures recently released by the federal government, our year round population is 3,392. We have a tourist season from March until October with weekly visitors /tourists counts often exceeding 20,000. The City departments include the Mayor and Council, City Clerk, City Manager, General Administration (including IT, Finance, HR and Parking Services), Water and Sewer, Public Works, Police, Fire, Recreation as well as others. City of Tybee Island relevant statistics: Total land area 6,623,896 sq meters Total water area 300,794 sq meters Total land area 2.55750 sq miles Total water area 0.11614 sq miles Latitude 32 N Longitude -81 W IV. SERVICES REQUESTED In addition to the standard bank services, the City of Tybee Island is interested in the following services: • No NSF Check Fees SunTrust Bank agrees to waive NSF fees. • No Stop Pay Fees SunTrust Bank agrees to waive stop payment fees. • Internet Banking- Including balance reporting, wires, ACH transmissions, stop payment Yes. Please refer to page 22 for more information on our online banking services. • Check Imaging Yes. You can access check images, deposit tickets and deposited items images, and images of adjustment tickets through Online Treasury Manager, our Internet -based cash management system, which allows you to initiate inquiries and retrieve images within seconds of your request. 4 Online images build up to seven years of history for on -us items and five years for transit items. We also offer check images on CD -ROM, which provides an archive of paid items, deposit tickets, deposited items, and returned items for you at month end for research and storage purposes. Multiple accounts and up to 20,000 images can be included on one (1) CD -ROM. • Direct Deposit for Payroll Yes. Please refer to page 20 for more information on the various delivery options that are available. • Purchasing Cards Yes. Please refer to page 37 for more information on our Commercial Card Solutions. • Coin Collection and Processing SunTrust will accept loose or rolled coin delivered by armored courier at our cash vaults. You can also deliver loose or rolled coin to a branch location, but there is a limit of 50 pounds for coin delivered to a SunTrust branch. Only small amounts of coin can be accepted at night drop locations. SunTrust does not provide courier services for pick -up or delivery of check deposits. Although we are not in a position to recommend a specific provider, we can review the list of couriers you have under consideration and confirm whether they currently deliver to SunTrust. • A night depository on Tybee Island or willingness to provide one or a daily courier service Yes. The nearest ATM/ Night Depository drop is located on Tybee Island at: 304 First Street, Tybee Island, GA 31320. • Free check cashing for employees and other payees SunTrust Bank agrees to waive the check cashing fee for employees with proper identification. In addition, SunTrust is pleased to offer City of Tybee Island our SunTrust at Work banking program. SunTrust at Work offers three different personal banking packages, Signature Advantage Checking, Solid Choice Checking, and Free Checking, each with an extensive range of features, plus waived or discounted fees at no cost to City of Tybee Island. 5 Enhance employee benefits with SunTrust At Work SunTrust at Work is a personal banking program available to your employees that provides a powerful combination of SunTrust financial products and services. Your employees get the personal banking services they need and want — at absolutely no cost As an experienced to your company . partner, SunTrust can Benefits for your employees Advantages for your company help you develop a solid plan that will • Choice of three checking accounts, each with ! • We administer the program for you by help attract and retain an extensive range of features, options and hosting onsite Enrollment Events and talented employees. benefits providing all the materials necessary to promote the program to your employees. • Free transaction use at more than 2,650 - SunTrust ATMs and, depending on the • When employees take advantage of Direct checking account selected, savings on non - Deposit, you receive the extra benefit of a SunTrust ATM transactions' streamlined payroll process and a reduction in administrative time and cost. • - Free SunTrust Check Card with SunTrust Rewards? free Online Banking with Bill Pay, • Ernpldyees are offered something they value free SunTrust Mobile Banking, and free 24/7 — financial services that take the work out'of Automated Telephone Banking banking. • Free; or discounted Equifax credit monitoring and identity theft protection° • Discounts and savings on mortgages consumer loans and lines of credit • Plus additional features and conveniences only available through this program • 1 SUN`IRUST GENERAL BANKING INFORMATION IX. FINANCIAL STRENGTH A. SAFETY AND SOUNDNESS Identify key measures of the bank's financial strength, (e.g. capital ratios, market capitalization total assets). Our Company • SunTrust Banks, Inc. headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. • Primary businesses include deposit, credit, trust and investment services. • Total assets of $174.2 billion as of December 31, 2009 Key Facts • 5 million SunTrust client relationships • 28,001 SunTrust full -time equivalent employees • 1,683 SunTrust branch locations and 2,822 SunTrust ATMs • 11 States in which our branches are located (in addition to the District of Columbia) 6 Ratios Capital Ratios Remained Solid 4Q 2009 3Q 2009 2Q 2009 10 2009 Estimate Actual Actual Actual Tier 1 Common Ratio 7.65% 7.49% 7.34% 5.83% Tier 1 Capital Ratio 12.90% 42.58% 12.23% 11.02% Tier 1 Capital Ratio (Excl TARP)' 9.50% 9.31% 9.11% 8.02% Total Capital Ratio 16.40% 45.92% 15.31% 14.15% Book Value per Share $3529 $36.06 $36.16 $46.03 Tangible Common Book Value $22.59 $23.35 $23.41 $28.15 per Share 1. TARP preferred included in Tier 1 ratio contributes an estrnated 2.40% to the 12`311D9 Tier 1 capital ratio, 327% at 91341139, 3.12% at E,r301O9 and 3.00% at 3131109 4 7 B. CREDIT RATINGS Provide ratings for the bank and /or subsidiary bank from the following agencies: Standard & Poor's/Moody's. Include ratings for Bank Financial Strength, Bank Deposits and Issuer Rating. RATINGS AS OF February 24, 2010 Moody's Standard & Investors Poor's Fitch DBRS Corporate Ratings Long Term Debt Ratings / Senior Debt Baal / BBB A- A Subordinated Debt Baa2 (/ BBB- BBB+ A (low) Short Term Commercial Paper P -2 A -2 F1 R -1 (low) Bank Ratings Long Term Debt Ratings Senior Debt A2 BBB+ A- A (high) Subordinated Debt A3 BBB BBB+ A Short Term P -1 A -2 F1 R -1 (middle) Ratings Outlook: Negative Stable Negative Negative * Under Review II. ACCOUNT SERVICING - A. BANK CONTACTS List names, titles, telephone and fax numbers and e-mail addresses for key bank contact personnel. We request a customer service rep representative with the title of Vice President or higher to be assigned to our account. SunTrust employs a team approach — with your Relationship Manager and Treasury Sales Officer as your primary contacts. In addition, an assigned Commercial Banking Specialist and Client Services Specialist (Alternate Contacts) will also be well informed about your Institution and your Treasury solutions. We believe City of Tybee Island will be pleased with the proven model we have designed to meet your servicing needs. Relationship Manager (Primary Contact) Raymond Padgett Vice President Phone Number: 912 - 944 -1204 Fax Number: 912 - 944 -1221 E -mail Address: raymond.padgett@suntrust.com 8 Your Relationship Manager, or RM, is your primary contact for general SunTrust business. The Relationship Manager knows your corporate objectives, your accounts and your business requirements. This person's role is to consult with you about new and existing services, ensure your continued satisfaction and bring together the right SunTrust specialists to meet your financial needs. Raymond has been in banking for 38 years, and has worked in all areas of the bank becoming involved exclusively with commercial banking relationships in 1985. In his current role as a Commercial Relationship Manager he is responsible for the total banking relationship for a diverse portfolio of commercial clients. Raymond graduated from Armstrong State College in 1975 with a degree in Business Administration. Commercial Banking Specialist (Alternate Contact) Brenda Youmans Commercial Banking Specialist Phone Number: 912 - 944 -1203 Fax Number: 912 - 944 -1221 E -mail Address: brenda.youmans@suntrust.com Your Commercial Banking Specialist is your alternate contact who works with you in all areas related to your loan or investment activity, as well as inquiries related to your account analysis and wire transfers. In general, your Commercial Banking Specialist will handle any inquiries about your daily account activity that do not relate specifically to treasury management. Brenda has 25 years of consumer finance experience. She is a graduate of The University of Georgia Southern with a BA in Business. As a complement to the Commercial Front Office, the Business Care Center is available from 7:00 a.m. to 7:00 p.m. ET, Monday through Friday for routine bank requests and service issues. A Commercial Banking Services Specialist may be reached toll -free at 1- 866 - 476 -1460. Treasury Sales Officer (Primary Contact) Marsha Dewey Vice President Phone Number: 912 - 944 -1008 Fax Number: 912 - 944 -1221 E -mail Address: marsha.dewey@suntrust.com Your Treasury Sales Officer, or TSO, consults with you concerning your business needs in order to develop a customized treasury management solution. Your Treasury Sales Officer coordinates the work of the treasury management services team, keeps you informed about industry trends and new services, and makes recommendations to optimize your treasury management processes. 9 Marsha has been with SunTrust Bank for 31 years. She has worked in retail banking in different capacities for 25 years. Her role in retail banking included, Financial Service Manager, Operations Manager, Financial Service Representative and Teller. Marsha has over 3 years experience in Treasury Management and has worked in various roles, including, Client Services Manager and Client Services Specialist. Currently, she is working as Treasury Sales Officer, working with commercial, corporate and government entities to ascertain Treasury Management solutions that best fit each client's needs. Treasury and Payment Solutions Client Advisor (Alternate Contact) Debra Adeboye Banking Officer Phone Number: 1- 866 - 448 -6392, ext 57583 Fax Number: 404 - 724 -3542 E -mail Address: debra.adeboye@suntrust.com The Treasury Client Advisor provides professional support for all treasury management products and services. Debra will be assigned to your company to serve as your primary contact for routine inquires relative to how your services are functioning. Specific responsibilities include determining the nature of the problem, identifying the appropriate follow up action and instituting that action to ensure a swift, accurate and complete resolution. She can also facilitate any maintenance to your services. Debra began her career with SunTrust Bank in 2003, as a SunTrust Online Bank Representative. From there she was promoted in 2005 to her current position as a Treasury Payment Solutions Client Advisor. Debra holds a bachelors degree in Business Administration. SunTrust also has a Technical Services Group based in Orlando, FL that handles support for software and Internet -based applications. SunTrust employs professionals with expertise in computer hardware, software and communications. The SunTrust Technical Services Group is available to respond to any technical questions from 8:00 a.m. ET to 6:00 p.m. ET Monday through Friday. You may contact them toll -free at 1- 877 - 785 -6925. 10 B. REFERENCES Each proposer should include five (5) references of customers who have used services similar to those included in this request. Please provide name, address, telephone number, and a contact person for each reference. City of Douglas, P. O. Box 470, Douglas, GA 31534 Contact: Charlie Davis. Assistant Manager Phone: 912- 389 -3428 We provide depository services, lockbox, lockbox data capture, lockbox imaging, wire transfer, ACH processing for utility payments and direct deposit of payroll, merchant services, and online banking City of Waycross, 417 Pendleton Street, Waycross, GA 31501 Contact: Larry Gattis, CFO Phone: 912 - 287 -2964 We provide depository services, wire transfer, CD -ROM, ACH processing for utility payments and direct deposit of payroll, online banking, merchant services, and overnight investments Savannah Chatham County Board of Education, 33 Bull Street, Savannah, GA 31401 Contact: Rebecca McClain Phone: 912 - 395 -5543 We provide depository services, zero balance accounting, wire transfer, CD -ROM, ACH processing for direct deposit of payroll, partial account reconcilement, deposit reconcilement, online banking, and ACH fraud control Office of the Chapter 13 Trustee, 33 Bull Street, Savannah, GA 31401 Contact: Rafe Semmes, Comptroller Phone: 912 - 234 -5052 We provide depository services, return item processing, zero balance accounting, CD -ROM, ACH services, ACH fraud control, full account reconcilement, positive pay, wire transfer, lockbox with data capture and transmission, and online banking Daniel T Powers Tax Commissioner of Chatham County, Hold Mail Contact: Julia Roberts, Financial & Reporting Accountant Phone: 912- 652 -7146 We provide depository services, special return item processing, wire transfer, and online banking C. PROXIMITY Provide the distance of your nearest bank branch to each of the following locations: 11 City of Tybee Island City Hall 403 Butler Ave., P 0 Box 2749 Tybee Island, GA 31328 The SunTrust Wilmington Island office is located 8 miles away at: 324 Johnny Mercer Blvd., Savannah, GA 31410. Provide the location of the nearest night depository to this location. The Wilmington Island office has an ATM and Night Depository drop. Is there currently a night depository on Tybee Island? If not, are you willing to provide one (or daily courier service ?) Yes. The nearest ATM/ Night Depository drop is located on Tybee Island at: 304 First Street, Tybee Island, GA 31320. E. DISASTER RECOVERY Provide an overview of the bank's disaster recovery plan. As with all large financial organizations, SunTrust's business continuity plans and procedures are highly regulated. This means that at any point in time, SunTrust is subject to detailed audits by the Federal Reserve Bank, Securities and Exchange Commission, established independent third - parties, and by dedicated internal audit staff on a continuous basis year after year. The SunTrust Business Continuity program provides for enterprise -wide planning and testing to enable SunTrust to continue essential operations in the event of a business disruption. Business continuity addresses both the recovery of business processes as well as the associated technology. Recovery plans are tested and reviewed for compliance on an annual basis. SunTrust has a corporate -wide Business Continuity policy that clearly and concisely delineates the scope, roles and responsibilities. The scope of this document includes business impact analysis, threat assessment, recovery prioritization, testing, training, and employee awareness. Additionally, Business Continuity standards, procedures and guidelines are documented in support of the policy to ensure efficient and effective manageability of business continuity efforts. SunTrust must comply with all applicable laws and regulations, and will continue to take reasonable and necessary steps to maintain appropriate safeguards to protect against business disruption. Finally, SunTrust has disaster recovery hot sites. These sites are located throughout the regions we serve. SunTrust has alternative backup sites that can be used if the primary backup site is unavailable. Due to security concerns, SunTrust does not disclose backup processing sites. F. IMPLEMENTATION What is the average lead -time required for implementation, including but not limited to the 12 following services? • Account Opening — 1 business day • Deposit Ticket Orders and Endorsement Stamps — 5 to 10 business days • Information Reporting —10 to 15 business days • Purchasing Cards — depends on card program After SunTrust has been awarded the business, an implementation team will be assembled. The implementation team will consist of: • Your Relationship Manager, Raymond Padgett • Your Treasury Sales Officer, Marsha Dewey • A SunTrust Implementation Project Manager • A Security Administrator designated by City of Tybee Island and other key personnel The implementation team will work together to confirm the required account structure and services, to ensure a smooth implementation process. Once the desired services and account structure have been agreed to, the following steps will take place. Step 1 - Bank Accounts • SunTrust Bank - open accounts • City of Tybee Island — sign signature cards and corporate resolution Step 2 - Treasury & Payment Solutions Implementation of your treasury solutions will be initiated by Marsha Dewey, your Treasury Sales Officer. She will provide all necessary agreements to be signed by an authorized signer on the Corporate Resolution. Once the signed Corporate Resolution and Treasury agreements are received, Marsha will initiate the implementation and start working with the Implementation Project Manager. Once implementation is completed, the SunTrust Implementation Project Manager will communicate the training schedule with the Security Administrator assigned by City of Tybee Island on how to use our systems. The Project Manager will continue to be your point of contact during an initial warranty period following the setup. Our Technical Services Group handles support for software and Internet -based applications. SunTrust employs professionals with expertise in computer hardware, software and communications. The Technical Services Group is available to respond to any technical questions from 8:00 a.m. to 6:00 p.m. ET Monday through Friday on bank business days. You can contact them at 877.785.6925. User manuals and quick reference guides are available to you online. Online help screens are available within the services. Telephone training is provided as part of the implementation process. There is no charge for this level of support. We do not charge for technical assistance by telephone. Step 3 — Transition from current bank to SunTrust Bank 13 • Provide your new account number to any parties electronically crediting the old account such as federal agencies, merchant services provider, vendors, etc. They should credit the new SunTrust account number and routing number 061000104 for ACH. • Provide the new account number to any parties electronically debiting the old account such as 401k, payroll providers, state taxes, etc. They should debit the new account number and routing number 061000104 for ACH. DEPOSITORY AND COLLECTION SERVICES BASIC INFORMATION The City of Tybee Island currently has six (6) depository accounts and one ACH parking revenue account. The average daily balances are approximately $1,000,000.00. Nightly deposits are taken to a local depository by 4 different departments to be deposited into the general fund. We also have daily parking credit card deposits which are electronically transmitted to the parking revenue account. Payroll, SPLOST and Escrow deposits are made as needed. 1. PROCESSING What is the cut -off time to ensure same day ledger credit? Branch Cutoff at the Wilmington Islands Office Monday — Thursday 4:00 p.m. and Friday 6:00 p.m. for same day ledger credit Night Depository Drop Monday — Friday 7:00 a.m. for same day ledger credit Online Check Deposit (Remote Check Capture) Monday — Friday 10:30 p.m. for same day ledger credit B. BANK COMPENSATION How do you determine and calculate availability of deposited items? SunTrust provides immediate availability for on -us (SunTrust) items, incoming wires, ACH deposits, and cash. All other items are assigned next -day or 2 -day available depending on the endpoint. C. RETURNED ITEMS 1. Describe your procedure for handling non - sufficient fund checks deposited into a City of Tybee Island account. Our standard return item process is to return all items with a copy of the advice by U.S. Mail to the address for your company that is listed on our deposit account file. The standard advice may list multiple return items, but the posted debit to your account is at the individual item level. While these are the standard processing instructions, SunTrust can tailor our return item 14 processing to meet your needs. Optional services include the following: • Multiple advice options, including standard (bank default), summary and single item per advice • Duplicate advices provided to an alternate address, or duplicate advices with images provided to the default and/or alternate address • Delivery through your commercial courier, for which your company would need to provide a billing number with that courier for SunTrust to use • Notification of returns and re- deposits by fax, including image copy of the front and back of each item • Notification by telephone • Automatic re- presentment of all eligible items or items over or under a specific dollar amount • Extended data, such as maker name and return reason, on the advice or available through an online report • Store level processing with specific instructions for each location • Option to charge returned items to an account other than the deposit account • Options for debits to be posted include at the individual returned item level, at an advice level, which could represent up to 8 returned items per advice, or at the summary level, which would represent all returned items for the day 2. Can return items be automatically redeposited? If so, how many times? SunTrust can automatically re- present return items one time before being returned to you. Any item that is returned due to funds availability issues (uncollected funds, non - sufficient funds, etc.) is eligible for re- presentment. D. STOP PAYMENTS 1. Can stop payments be placed manually? On -line? Stop payment requests, inquiries about the paid status of a check, and the ability to revoke a previous stop payment are all available through Online Treasury Manager, our Internet -based cash management service. Stop payments can also be placed by calling your Client Services Specialist on bank business days, or by calling the SunTrust Telephone Banking service at 800.688.7878, which is available 24/7 including weekends and holidays. 186 calendar days of history are examined in the Stop Payment service within Online Treasury Manager, providing the account has been set up in Online Treasury Manager for that entire period. For stop payments placed through a telephone call to SunTrust, the SunTrust representative will examine the available account history online, which represents the current and previous month's statement cycles, to confirm the check has not been paid before placing the stop. Our deadline for same day placement of a stop payment is 10:00 p.m. ET for items presented for payment that day, as well as items that may be cashed at a SunTrust branch. If the stop is placed 15 after an item is cashed, the stop will not be honored. 2. Can the period be extended? The default period for stops placed through Online Treasury Manager is 6 months. Your company's Security Administrator can extend the stop payment retention period in Online Treasury Manager, based on the parameters you define. 3. Can you request stop payments for a range of checks? For regular DDA accounts, not using ARP, Positive Pay or CPR services, you can request stop payments for a range of checks either through Online Treasury Manager or by a telephone call to SunTrust. E. WIRES 1. What are the opening hours and the cut -off times in Eastern Standard Time for initiating wire transfers to ensure same -day execution? Online Wire Transfer Initiation The preferred method for wire transfer initiation is through the Wire Transfer service in Online Treasury Manager, our Internet -based cash management service. Online Treasury Manager provides secure and convenient access to wire initiation at a reduced price, real -time reporting of all incoming and outgoing wire transfers, extended same -day processing hours to 5:30 p.m. ET (or 5:00 p.m. ET for international requests in foreign currencies), and 186 days of detailed history. A combination of three elements, Company ID, User ID and User Password, is required to access Online Treasury Manager. Online Treasury Manager allows separate and distinct authorities for input, approval, and release functions by one or a combination of up to three users. Dual approval is standard for all payments initiated through Online Treasury Manager which sets us apart from our competition. Telephone Wire Transfer Initiation Telephone - Wire transfers may also be initiated by telephone between the hours of 8:30 a.m. ET and 4:30 p.m. ET. A toll -free call to our Central Wire Facility connects you with a wire transfer specialist. Telephone - initiated, non repetitive wire requests are subject to random callback verifications. Unless you specify otherwise, a callback will be placed on all non repetitive payments over a pre - determined dollar threshold, based on our internal requirements. We can also work with you to tailor the parameters for callbacks to assure dual approval based on your own security requirements. For each method, the last step before release of a wire is the check for available funds by the 16 automated account balance monitor in the wire transfer system. If sufficient funds are available, the outgoing wire transfer is released to the Federal Reserve and a hold in the amount of the wire is automatically placed on the funds in the account. 2. Does the bank's wire transfer system have the capability of warehousing instructions for future dated wire transactions? Yes. However, there are differences between the SunTrust wire transfer system (telephone) and the Online Treasury Manager service in warehousing durations and neither system can warehouse future -dated foreign currency transactions. Telephone Wire Transfer Initiation The SunTrust wire transfer system can accept and warehouse for up to 30 calendar days any called -in domestic wire transfer instructions, including book transfers. Online Wire Transfer Initiation The Online Treasury Manager service can warehouse domestic wire transfer instructions for 365 calendar days, including book transfers. A wire that is warehoused in Online Treasury Manager is not passed to the SunTrust wire transfer system until the release date for the wire. It can be edited, modified, or canceled if necessary prior to the release date. TREASURY MANAGEMENT SERVICES I. ACCOUNT RECONCILIATION SERVICES City of Tybee Island does not use this service at this time, but would like to review information for potential future use. Please specify whether these options are available at your bank. Please indicate any costs or fees associated with the services described in this section. Based on City of Tybee Island's account activity we would recommend our Partial Account Reconciliation service. At the end of each statement period, SunTrust generates a series of reports listing the checks that have cleared during that timeframe, including a Paid Only Report, a Miscellaneous Debit Report, and more. These reports are then forwarded to you in hard copy or on your CD -ROM. This service also allows us to create a paid -items file transmission for automatic delivery to you by the 5th business day after your statement cut -off date. The transmission will include the check serial number, check amount, and paid date. The SunTrust CD -ROM service provides an archive of paid items, deposit tickets, deposited items, and returned items for you at month end for research and storage purposes. If you receive CD -ROMs of your check images from our ARP service, we will automatically include images of your bank statements and ARP reports on the CD -ROM. Multiple accounts and up to 20,000 images can be included on one (1) CD -ROM. New implementations include viewer software, and each CD is encrypted and password protected. 17 With our CD -ROM Viewer software, you can retrieve and display digitized images of checks on your PC for research purposes. You can also verify detailed information on the front (captured in JPEG format) and back (stored in G4 format) of checks such as date paid, amount, payee name and signatures. Because images are stored permanently on CD -ROMs, images will not fade, as is typical for stored paper documents as they age. Images can easily be faxed, printed or exported, and enlarged and rotated for better viewing. Partial Account Reconcilement Monthly Maintenance Fee: $40.00 plus .03 per item Optional Paid Items Transmission: $5.00 per file plus .0090 per record Image Disbursement Services (CD -ROM) Monthly Maintenance Fee: $15.00 per account plus .04 per item II. POSITIVE PAY City of Tybee Island does not use this service at this time, but would like to review information for potential future use. Please specify whether these options are available at your bank. Please indicate any costs or fees associated with the services described in this section. Check Fraud Protection Services SunTrust offers the following three Positive Pay options: Positive Pay provides a next -day fraud prevention service that matches posted items to your issue records. Items are matched by serial number and amount. Payee name verification is also available as an optional feature. How it Works • Check issue files are sent to SunTrust immediately after each check cycle • Transmission deadline is 11:00 p.m. ET on the day checks are issued • Deadline for entering manual issue /void records through Online Treasury Manager is 9:00 p.m. ET • SunTrust matches posted items to issue file • Images of exception items or items not matching the issue file are reported via Online Treasury Manager by 10:00 a.m. ET on the business day after they are received • Pay or Return decisions must be submitted by 2:00 p.m. ET on the same day they are reported via Online Treasury Manager • SunTrust processes returns as instructed and credits adjustments to account. Reverse Positive Pay is available to clients who do not wish to send issue files but desire the necessary check fraud protection. How it Works 18 • Clients review paid items via Online Treasury Manager on a daily basis • Prior Day paid items are reported by 7:00 a.m. ET • Unauthorized checks must be returned by 2:00 p.m. ET that same day • Return decisions are submitted via Online Treasury Manager • SunTrust sends check(s) back to the bank of first deposit and credits the adjustment to the client's account Controlled Payment Reconciliation is a same day Positive Pay service that combines the benefits of controlled disbursement and positive pay in one offering. Controlled Payment Reconcilement provides you with daily notification of paid not issued items before they post to your account. How it Works • You must transmit a file to the bank as you issue checks. • The bank's cutoff time for receiving issue files for our Controlled Payment Reconcilement service is 6:00 a.m. ET for clients with the same day teller access option and 9:00 a.m. ET for clients without the same day teller access option. • Deadline for entering manual issue /void records through Online Treasury Manager is 9:00 p.m. ET • Controlled disbursement funding totals are presented at 8:30 a.m., 10:00 a.m., and 11:00 I a.m. ET • SunTrust will notify you through Online Treasury Manager of all mismatched items by 1:00 p.m. ET (Day 1) on the business day they are received • Access to images of mismatched items is available through Online Treasury Manager for clients by 3:00 p.m. ET (Day 1) • Pay or Return decisions must be submitted by 2:00 p.m. ET (Day 2) the next day With Positive Pay and Controlled Payment, cashed checks are verified against the issue file at the point of encashment. The check number and amount will be compared to the outstanding issue record. If the check matches on check number and amount, the transaction will be approved. If the check does not match or an issue record is not on file, branch personnel will contact you for payment instructions. Payee name verification is not currently available in our bank's teller system. Electronic Fraud Protection Services SunTrust offers the ACH Fraud Control service to protect accounts from unauthorized ACH transactions. Any unauthorized ACH entries, based on the criteria you provide to SunTrust, are rejected and returned to the originator through our ACH Fraud Control service. The SunTrust ACH Fraud Control service allows you to screen or filter received ACH transactions. 19 Options currently available through the ACH Fraud Control service allows you to: • block all ACH debits or all ACH credits, or both; • issue standing order authorizations for pre - authorized originators up to a specified dollar amount, which requires originator ID and maximum dollar limit; • provide single -item authorization for individual ACH debits or credits, which requires originator ID and dollar amount (exact, range or maximum) and date, if desired Basic Positive Pay Monthly Maintenance Fee: $45.00 per account plus any exceptions reported for decisioning Issue File Fees: $5.00 per transmission plus .0090 per record ACH Fraud Control Monthly Maintenance Fee: $5.00 per account plus implementation fees for setting up filters II. ACH PROCESSING (DIRECT DEPOSIT OF PAYROLL) the City of Tybee Island currently uses ACH processing for PAYROLL, FEDERAL TAXES, etc. 1. Describe the service delivery method (direct transmission, PC -based system, web based) that you recommend based upon the information outlined for our organization. SunTrust Bank offers several delivery channels for secure file delivery over the Internet, described below. We support EDI ASC X12 transaction sets for transmission files. We also offer BAI -2, proprietary and EDI files through the following secure FTP protocols: SSL, SSH, HTTPS over Internet connections, VPN (FTP & Connnect:Direct) with formal signoff FTP, and with PGP encryption. Direct transmission of Industry Standard formatted file (Online File Transfer) The SunTrust Online File Transfer service is a secure electronic file transfer method that allows you to be in control of the transfer of data files. For high transaction volumes, we recommend this delivery channel for incoming and outgoing secure files over the Internet (HTTPS) or secure FTP. You can use this method for sending and receiving the following data files: • Direct Deposit and other Pre - Authorized ACH debit or credit files • Account Reconciliation issue and paid items files • EDI receipts or payments data • Controlled Payment Reconcilement issue and paid item files • Positive Pay issue files NACHA formatted file upload through our online system Online Treasury Manager The Upload service is utilized when clients create NACHA formatted files within their own accounting systems and simply pass the files to SunTrust for processing through the online system Online Treasury Manager. Create & initiate ACH files through the ACH service of Online Treasury Manager 20 The ACH service is used both to initiate and send files. The ACH service allows you to create one or more transactions and have the batch verified and released to the bank quickly and easily for processing. Typically, companies use Online File Transfer and the Upload functionality of Online Treasury Manager for higher volume files. ACH service can be used for lower volume files, such as for expense reimbursements, state and federal tax payments, and vendor payables. 2. Describe the products features including but not limited to: • Transmission procedures Please see response above. • Transmission time windows /ACH hours of operation SunTrust supports ACH processing around the clock between 3:00 a.m. ET Monday and 12:00 a.m. ET (midnight) Friday. Transmissions of ACH files are accepted 24 hours a day, seven days a week, which are processed and released in the next available window. These are Fed processing windows and are followed rigidly. Once they have passed, any files received will be released during a subsequent window. SunTrust Bank offers five (5) windows or cutoffs and those are: 3:00 a.m. ET, 10:30 a.m. ET, 2:30 p.m. ET, 5:30 p.m. ET, and 7:30 p.m. ET. Although we offer next day settlement on consumer credits with a 10:30 a.m. ET deadline, we recommend that you send all files at least 2 days in advance to allow for reversals or deletions. Settlement transactions for ACH disbursements are memo - posted at the opening of business on the settlement date and your funds must be there at that time to prevent possible daylight overdraft occurrences. The SunTrust Holiday schedule aligns with that of the Federal Reserve Bank. • Process for reversing /deleting files If a transaction or batch has not left SunTrust, a request can be made to delete it. Once it has been sent to the ACH network, the request becomes a reversal. Any authorized representative designated on your Service Profile for ACH Origination can request a reversal or deletion in writing. Your authorized representative may complete the ACH Exception Process Request Form and fax it to SunTrust ACH Operations. Alternatively, your authorized representative can request single item or batch deletions /reversals by sending a Transaction Reversal Notification request through secure messaging in Online Treasury Manager. Both reversal methods are available for any origination channel. A confirmation is displayed, which can be printed and stored for your records. Reversal or deletion requests received before 4:00 p.m. ET may be processed on the same business day, subject to NACHA rules. 21 • Electronic reporting capabilities Online Treasury Manager (reporting and transaction capabilities) is a convenient and secure Web -based tool that helps you optimize your cash flow and manage your liquidity and investments. Also available are 186 days of balance reporting history, including seven years of image history for on -us items and five years for transit items. Information Reporting & Data Management • Access prior day & same day balances. • Access historical information and • View images of paper -based transactions transactions, with a history retention including paid checks, deposit tickets and period of 186 calendar days. deposited items. • Approve or reject potentially fraudulent • Verify check status and issue stop checks identified through use of our payments. Positive Pay service. • • Review report details, such as ACH Export financial data into other returned items, and ACH, EDI and Wire applications such as treasury workstations remittance information. or reconcilement applications. Transaction Initiation • Use the Account Transfer service to move • Initiate ACH transactions for various funds between your SunTrust accounts. purposes, including payroll, tax, vendor • Use wire transfers for payments to be payments and pre- authorized debits. made on a same day or recurring basis. Initiate repetitive or free form transfers, domestically or internationally. We also offer SunTrust Online Courier (reporting capabilities only), a complementary service to Online Treasury Manager that distinguishes SunTrust from the competition. This service allows you to schedule delivery of account information in an automated, unattended manner by FTP to your desktop, by secure attachments to emails, or by using a script for dial -up access. With SunTrust Online Courier, information can be delivered automatically without signing on, so that it is ready when you need it most. • Security features When logging into our Internet -based services, a prompt notifies you of the required secure connection and requests your acknowledgement. All communications beginning with login, including the entry of all required IDs and passwords, use 128 -bit encryption. Firewalls, routers and special computer systems provide state -of -the -art network security that 22 effectively prevents unauthorized access from both inside and outside SunTrust. Secure application servers have exclusive access to the SunTrust host computer systems through secure virtual tunnels. User security procedures for client access to our Internet -based services are controlled through three elements of a unique security code: (1) Company ID, (2) User ID, and (3) User password. Users are required to change passwords every 30 days. Re -use of the previous three passwords is prohibited, and the system will time out and suspend access if your session is idle for more than 30 minutes. During implementation SunTrust creates a Security Administrator ID for your organization. Once this Security Administrator is trained, he /she will add or delete users with various levels of access to the system using the administrator module within Online Treasury Manager or Online Courier. For each user, the Security Administrator can permit /restrict access to functions and accounts. For transaction initiation (e.g., ACH transactions and wire transfers), the Security Administrator can assign each user initiation and /or approval ability (payments cannot be initiated and approved by the same user). Initiation and approval can be further restricted by transaction type and daily total amount. In addition, dual security administration is available, dual approval is standard for transaction initiation and additional user authentication tools (security challenge questions) are included to aid in fraud prevention. All users of Online Treasury Manager are required to choose and answer three Security Questions on initial sign -on. Users will be prompted to answer these questions in the event uncharacteristic behavior is identified. • System requirements For online banking, the only hardware requirement is the ability to access the Internet through a standard method, such as modem, DSL, Ti, etc. Please indicate any costs or fees associated with the services described in this section. Please refer to Section 2 for the Fee Proposal. V. DISBURSEMENT SERVICES Describe the bank's disbursement services (controlled disbursement, PC -based system, web - based) that you recommend based upon the information outlined for our organization. The SunTrust Controlled Disbursement service provides you with early, same day notification about the total amount of checks that will be presented for payment that day. With this information, you'll be able to make better, more informed decisions about your daily cash position. You will also be able to make decisions about funding, investing, and borrowing earlier in the day, when market rates are more favorable. SunTrust provides three presentment reports. The first presentment of checks is available as 23 early as 8:30 a.m. ET, and the second presentment of checks by 10:00 a.m. ET. In addition, a third and final report is available by 11:00 a.m. ET. This fmal report includes both a summary total and detail information on all presented items. Any items presented to SunTrust after the 11 a.m. ET final update will be held over until the following business day. Upon receiving the final report, you now have the information you need to accurately forecast your cash needs for that day. If the presentment totals provided forecast a cash deficit, you may choose to transfer funds from another account to your disbursement account, or borrow additional funds. If your cash forecast shows an excess, you may apply those funds to pay down outstanding debt, or transfer those funds into interest bearing vehicles. VI. LOCKBOX SERVICES City of Tybee Island does not use this service at this time, but would like to review information for potential future use. Please specify whether these options are available at your bank. Wholesale Lockbox shortens the receivables process by streamlining the collection of payments - both paper based and credit card. The first of these streamlining efforts involves eliminating the delay associated with waiting for your payments to be delivered by mail. Secondly, Wholesale Lockbox increases efficiency by eliminating the need for your staff to manually process payments, prepare deposits, then deliver those deposits to a local bank branch. Further, because payment information can be submitted to you electronically, you can update your receivables systems automatically. This eliminates the time and effort associated with recording payments manually. Wholesale Lockbox customers are assigned a unique post office box and zip code. The use of a unique zip code allows the post office to accelerate mail delivery to your SunTrust P.O. Box. Your mail is retrieved from your lockbox at scheduled times throughout each day and is delivered to the Lockbox department for sorting and processing. The Lockbox department uses an automated sorting system. Any rejected items in this system are sorted manually. These items plus the items sorted by the system are forwarded to the SunTrust team assigned to your account. The designated processor examines remittance items and assembles them in batches. As each check is reviewed, the processor verifies it for negotiability, and then keys the numeric dollar amount of the check into our system. This creates a control total for the batch. A second processor reopens the batch and keys in the script amount of each check. In the event there is a difference between the numeric amount entered by the first operator and the script amount entered by the second operator, the system suspends processing until the difference is resolved by the second operator. This process ensures data accuracy and batch quality. After the batch is prepared, automated processing equipment captures an image of the check and its magnetic image character recognition (MICR) line, encodes each check, and endorses each 24 check. Once completed, the system prints reports and copies of each check, and it generates an electronic deposit file. The use of this automated processing equipment dramatically decreases the time required to process a batch of checks. After processing is complete, the physical checks are released to our Items Processing department. There, checks are sorted into pockets representing the clearing banks to which the checks are presented. The system then assigns funds availability on an item -by -item basis. Availability is a function of two things; the time that the check is presented for deposit processing and the location of the bank on which the account is drawn. Data Transmission & Image Service During processing of checks, SunTrust captures the infoiination in the MICR line of each check. This information includes the check serial number, ABA number and account number. Depending on your needs, we can also collect additional remittance information that you require to support the application of these payments into your systems. Often the information requested includes one of the following: customer identification number, invoice number, or invoice amount. Once the data capture process is complete, a file is created containing all of the lockbox data captured that day. This file is then sent to you through our Internet -based data transmission system called Online File Transfer. You can choose to receive the file in one of several standard formats, including BAI, BAI2, EDI formats (ANSI ASC X12 823, 821,835), CSV or flat file. Custom formats are also available at an additional cost. In addition to receiving check data electronically, you can also access images of your checks and remittance documents electronically. These images are accessible over the Internet with the option to retrieve images through a direct link to your accounts receivable system, on a CD- ROM, or through an Image Transmission file. Our Lockbox Image Browser service lets you run queries on the check images based on any indexed fields, including deposit date, item number, check amount, serial number, and more. You can also define additional indexing fields such as the invoice number and amount or any data field found on your remittance documents. You can also access images of your credit card payments and correspondence received without check payment. Credit Card Payments Customers who have a merchant account through SunTrust Merchant Services may also choose to have credit card payments processed through our Wholesale Lockbox facilities. Credit card transactions are processed in separate batches and are reported on the Deposit Summary on the date they are processed. 25 INVESTMENT SERVICES BASIC INFORMATION City of Tybee Island is permitted to invest surplus funds. SunTrust Bank is pleased to offer City of Tybee Island our Public Funds Advantage NOW Account. This account combines the convenience of an analyzed business checking account with interest - earning functionality of a NOW account, benefiting the client by posting only one net interest payment or service charge. This account pays a floating rate indexed to Fed Funds. Currently this account type is paying a rate of Fed Funds effective weekly — .25 bps with a current floor of .25 bps subject to change. The account is analyzed monthly and a monthly earnings credit rate is applied to the average positive collected balance to allow you to offset service charges with balances. If you maintain balances exceeding what is needed to offset service charges, then you will earn interest on the excess balances at a rate equal to the earnings credit rate. Interest will be calculated at month end and posted to your account on the 14 business day of the following month. If sufficient balances are not maintained to offset all service charges, then the earnings credit accrued will offset a portion of the service charges and the remaining balances of the service charge will be debited from your account. Features/Benefits • For government agencies only • Requires a minimum account opening of $1A/IM • Earnings credit rate will always equal the interest rate and applied to average positive collected balances holding no reserves. • Allows you to receive one net interest payment or service charge on 14 business day of the following month • Public funds are collateralized above FDIC coverage • What safekeeping . or custodial arrangements are available for investments purchased by The City of Tybee Island, either from the bank or from another provider? SunTrust Bank has provided custodial services to corporate, institutional, and commercial clients for over 50 years. The Safekeeping Group currently manages over $18 billion in assets for approximately 1,000 clients. SunTrust Bank believes in person -to- person customer support and provides this support through our Customer Service Representatives. The Representatives: 26 • Are available to answer all client inquiries regarding their Safekeeping accounts, Monday through Friday, 8:30 AM to 5:00 PM. • Will provide duplicate copies of custody receipts, pledge receipts, verification statements, and credit advices at any time. • Can issue audit confirmations for clients of Safekeeping as well as SunTrust Robinson Humphrey trading activity within 2 business days upon receipt. • Will make late call notifications directly to the client or the sales representative on the account. SunTrust Makes Safekeeping Easy: • One -call trading for phone calls to Safekeeping and Portfolio Accounting when trades are conducted through SunTrust Robinson Humphrey. • Automatic notification to Portfolio Accounting for pledge transactions and payments made to the client's SunTrust DDA account. • Automatic interface with the client's SunTrust DDA account for all trades and income and maturity / call proceeds. • An external audit report of policies and procedures to clients. This report is the SAS 70 (type 2) performed by Ernst & Young, LLP. SunTrust's keeps clients up -to -date by providing: • Web -based service that allows the client to view their verification statements, credit advices, custody receipts and maturity notices within 24 hours of their issuance. • Custody Receipts on the next business day. • Pledge Receipts to the client and the pledgee on the next business day. • Credit advices of income and maturity / called proceeds three days prior to the payment date representing the total payment into the client's DDA account. (Adjustments made on payments prior to and after the payment date will result in the mailing of new credit advices that reflect the corrected payment.) • Notifications for maturing or called pledged securities ten calendar days prior to the maturity or called date. • Notifications of maturing securities seventeen calendar days prior to the maturity date. • Verification statements (statement of holdings) by the third business day of the month. SunTrust clients may request monthly or quarterly statements, and may also request market values of the securities held. • Pledge statements to each pledgee on a monthly or quarterly basis by the third business day of the month. Market values are automatically contained on the statements. Safekeeping services are performed in the name of SunTrust Bank by employees of SunTrust Robinson Humphrey through an agency agreement effective January 1, 1998. • What reports will you provide indicating holdings in safekeeping or custodial accounts? 27 Please provide samples. SunTrust Safekeeping keeps clients up -to -date by providing Web -based services that allows the clients to view their credit advice, maturity notices and verification statements within 24 -hours of their issuance. A sample of each notification is attached. Sample Credit Advice E1611 E'EAS l E3d611C Mail Code 3908 P.O. Box 4418 Atlanta, GA 30302-4418 Contact Your Investment Representative: Safekeeping (800) 685 -4786 Customer # 1234 CUSTOMER NAME MAILING ADDRESS Advice As Of 01/08/2010 CITY, STATE, ZIP CODE corrected safekeeping Advice for items paid in USD on 01/11/10 Payment instructions: Credit checking XXXXXXXXXXX3258 Receipt # security Description Orig Face /Par Prin. Amt. Due Cusip Current Face Int. Amt. Due Rate Maturity Amt. withheld Net Amt. Paid 0574078514 GEORGIA TRANS CORP 5,000,000.00 5,000,000.00 37362HAA4 COMMERCIAL PAPER .00 01/11/2010 .00 5, 000, 000.00 0574078657 DAIRY FARMERS OF AMERICA 3,000,000.00 3,000,000.00 23385TAA1 COMMERCIAL PAPER .00 01/11/2010 .00 3, 000, 000.00 *Principal is new since previous advice 0721076098 BARTOW CO DEV AUTH (GA) P/C 3,400,000.00 .00 069643AR5 REV BDS(GA PWR CO PLANT BOWEN) 14,544.44 VAR 09/01/2029 ..00 14,544.44 28 Sample Maturity Notice SunTrust Bank Mail Code 3908 P.O. Box 4418 Atlanta, GA 30302 -4418 Contact Your Investment Representative: Safekeeping (800) 685 -4786 CUSTOMER NAME Customer # 1234 MAILING ADDRESS CITY, STATE ZIP CODE MATURITY NOTICE Date: 01/10/2010 Page 1 Receipt # Security Description prig Face /Par Prin. Amt. Due Cusip Current Face Int. Amt. Due Amt. withheld Net Amt. Paid 362265281 CVS CORPORATION 3,976,000.00 3,976,000.00 126653AU3 COMMERCIAL PAPER 3,976,000.00 .00 due: 01/28/2010 .00 3, 976, 000.00 574076855 CVS CORPORATION 111,000.00 111,000.00 126653AU3 COMMERCIAL PAPER 111,000.00 .00 due: 01/28/2010 .00 111,000.00 Total USD to be paid for 01/28/2010 4,087,000.00 Payment instruction Credit checking # XXXXXXXXXXX2104 4, 087, 000.00 29 Sample Verification Statement sdun1ru,L tSdFIIC Mail code 3908 P.O. Box 4418 Atlanta, GA 30302 -4418 Investment Account No. 1234 Stmt As Of Page 12/31/09* 1 CUSTOMER NAME MAILING ADDRESS Sales Representative CITY, STATE ZIP CODE Safekeeping _ custody Holdings for Currency USD Acquired Par /shares Description Cusip Pd down Value Rate, Maturity Receipt Cost 03/23/06 420,000.00 DERRY TWP PA MUN AUTH SWR 420,0 00.00 250063MB7 REVENUE BOND 4.000, 12/15/2018 721011252 06/19/01 1,000,000.00 FEDERAL HOME LOAN MORTGAGE 76,082.37 3128GLRA2 CORPORATION 10 YEAR 75, 329.08 6.000, 06/01/2011 500000571 09/12/07 700,000.00 FEDERAL HOME LOAN MORTGAGE 682,926.13 3128X2ZE8 CORPORATION AGENCY COUPON 5.000, 03/10/2015 574071420 08/10/07 1,000,000.00 FEDERAL HOME LOAN BANK 948,362.20 3133MXEA3 1 TIME CALL 5 /BUS DAYS NOTICE 5.240, 03/26/2018 574069238 03/22/07 1,000,000.00 FEDERAL HOME LOAN BANK 986,287.64 3133X5xW3 STRUCTURED AGENCY NOTE , 04/23/2014 574058821 Pledged 650,000.00 BALDWIN CO BD OF EDUCATION as of 03/26/07 ROS SUB FOR 3133X5236 04/13/07 1,000,000.00 FEDERAL HOME LOAN BANK 998,750.00 • Does your bank offer automatic sweep of available balances into money market or other investments? Please describe. Please provide monthly average yields for the last twelve (12) months on the sweep vehicle recommended in this proposal. Yes. Business Sweep calculates your ending net available cash position and compares it to your preset target balance. It then transfers funds automatically to or from your checking account according to your pre - defined instructions. Depending on how you choose to configure the service, excess funds are automatically swept into an overnight investment vehicle of your choice *, or are used to pay down any outstanding balance on your existing commercial line of credit. 30 * The following investment options are available to our Business Sweep clients: • Repurchase Agreements • SunTrust Banks, Inc. Master Note • Eurodollar Deposits • RidgeWorth Funds • RidgeWorth Institutional U.S. Government Securities Money Market Fund • RidgeWorth Institutional U.S. Treasury Securities Money Market Fund • RidgeWorth Institutional Cash Management Money Market Fund • A selection of other money market mutual funds Funds invested in sweep investment products are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC), the U.S. Government or any other government agency, or SunTrust or any affiliate of SunTrust. The average historical base rate for the pass year on the Repurchase agreement was .12% SunTrust Robinson Humphrey, Inc., member NYSE, FINRA and SIPC, is a broker - dealer, not a bank. SunTrust Master Notes and money market mutual funds are offered by SunTrust Robinson Humphrey, Inc. RidgeWorth Institutional Funds are advised by affiliates of SunTrust Bank. For a prospectus on mutual funds and for complete information about sweep accounts, including fees and expenses, call SunTrust Robinson Humphrey at 1.800.241.0901. Money market mutual funds are neither insured nor guaranteed by the U. S. Government, and there can be no assurance that the fund will be able to maintain a stable net asset value of $1.00 per share. • How soon after a deposit is made to a checking account are funds swept to the investment vehicle? Describe this process in detail. Please see our response above. • For this section, please describe any products or services not specifically mentioned here, which your bank offers, and which you believe would be beneficial to the City of Tybee Island. At SunTrust we pride ourselves on doing what is best for our clients. In an environment where many banks are offering commodity products, SunTrust delivers high- quality, competitive solid solutions. We accomplish this by listening, asking, and understanding what our clients are trying to achieve thus enabling us to recommend the product solution that will best meet your needs. Based on the information provided in your Request for Proposal and our experience in banking other municipalities, SunTrust Bank would like to provide you with detailed information on the following Treasury & Payment solutions that we feel would improve and enhance City of Tybee Island's overall operational and financial success: 31 • Online ePay Manager — allows you to collect payments via your website, phone, or voice response unit • Online Check Deposit - enables depositors such as governments, municipalities, and corporate clients the opportunity to capture deposits in -house using a certified scanner to send electronically to the Bank • Online Bill Consolidator - allows you to receive remittance and payment detail from your customers that pay bills using their Bank's Online Bill Payment Services Online ePay Manager Online ePay Manager allows you to offer your customers the option to make payments to you electronically authorizing you to send ACH debit entries to their deposit accounts. Just as importantly, it provides a system that allows you to accept and manage those electronic customer payments in an automated fashion without all of the development and support effort required to implement an in -house system. Online ePay Manager is web - based, requiring Internet Explorer 6.0 or later; it requires no additional software or hardware. Payment can be initiated by your customer every day of the week at any time. After your customer initiates their payment, an ACH settlement credit is transferred into your SunTrust deposit account the morning of the following business day. If you choose to accept payments initiated over the weekend, these funds will be available to you on Monday morning. In addition, during implementation of Online ePay Manager, you can choose to establish any of three options: (a) charge a late fee that the system can collect automatically with a late payment, (b) charge a convenience fee, and (c) require input of one invoice number or you can provide a file with valid invoice numbers to update your receivables system automatically. These features result in improved efficiency to your payment processing. There is no limit to the number of payments you can accept from your customers through Online ePay Manager. Your customers maintain control of the payment transaction until the processing date cutoff. Until that time, your customers can edit or delete any transaction. If a payment is processed and returned for insufficient funds (NSF), you can choose to automatically re- present these payments up to two times. With Online ePay Manager, you choose if you want to offer this service to all of your customers or a designated sub - group. Typically, if your customer base includes businesses involved in the areas of insurance, education, municipalities, distribution and property management, Online ePay Manager is well- suited for your collection needs. Payment Initiation Some of your customers may choose to use Online ePay Manager as their primary payment option and others may choose to sign up for the service as a back -up to make last minute, just -in- time payments. After registering for the service, your customers can schedule payments up to 32 one year in the future. At the daily cutoff time, all payments for that date are compiled and processed as ACH debits to your customers' designated checking or saving accounts. There are three initiation alternatives you can choose to offer your customers within Online ePay Manager — over the telephone, through an Interactive Voice Response unit, or by using the internet. • Telephone — Your customers can authorize payments by phone with one of your customer service representatives. For payment requests made over the phone, your company's customer service representative simply inputs the request into the Online ePay Manager Console for processing. Customers authorizing payments by phone receive payment confirmation through email. • Interactive Voice Response unit (IVR) — Your customers can authorize payments through an interactive voice response unit. With the IVR option, you can develop customized telephone scripts for your company. Customers authorizing payments through the interactive voice response unit receive a payment confirmation number upon completion of the transfer request. • Internet — Your customers can authorize payments using the internet. SunTrust will help you customize a web page for your customers that are accessible through a link from your company's website. Once on this site, your customers register and sign on to the system using their ID and password. Single or recurring payments can be authorized, account infoiuiation can be edited, payments can be scheduled and security settings can be updated. This website offers your customers access to 12 months of rolling payment history. Console Since Online ePay Manager is a web -based service, all customer payment details for all three payment entry methods are accessible to you though the Online ePay Manager Console. The Console allows you to designate individuals in your organization who can view payment data to support internal and customer -based inquiries, and accept phone - initiated payment requests. Payment history can be viewed for up to 12 months. Online access to ACH return item notices along with the original customer payment request and return item history are available. Also, the Console enables you to upload files for posting to your accounting systems. Security All customer specific data and information is saved in a secure environment on the Online ePay Manager database; no customer information, other than payment data you upload, is stored or accessible in your system. In addition, for telephone - initiated transfer requests, your customers can require that specific personal information or a "shared secret" must be communicated before a transfer request can proceed. All web -based transactions are secured with a level of security that, at a minimum, is equivalent to 128 bit encryption technology. Online ePay Manager allows you to designate a company administrator. This person is 33 responsible for authorizing users within your company and designating access to each function by user. Benefits you enjoy with the Online ePay Manager include: • Reduce collection time — By processing payments electronically, you save mail float and processing time. You can even process payments over the weekend with funds available Monday morning. • Improve payment accuracy and timeliness of posting — With Online ePay Manager you receive payment information that can automatically update your accounts receivable system, improving posting times and accuracy. • Eliminate manual processing costs and errors — Receiving payments electronically reduces the administrative time and expense associated with processing paper -based receipts and eliminates returned check charges. • Enhance credit management — Since the account status is updated in an automated manner, you can identify problem accounts more quickly. Online Check Deposit Online Check Deposit is a web based depository service that gives you the ability to send electronic check images for deposit to SunTrust by using SunTrust software and a check scanner approved by SunTrust. Check Scanners range in price from $400 - $1,400. The Online Check Deposit application lets you image the front and back of each check and capture the data from the MICR line, then transmit the images to SunTrust for deposit. The physical items that were imaged must be stored in a secure, controlled area for a time period designated by your company and then destroyed. The cutoff for submitting check images through Online Check Deposit for same day ledger credit is 10:30 p.m. ET. Transaction history and images are retained for 45 calendar days. No longer is a trip to a branch required to make deposits. The following four standard reports are offered through the Online Check Deposit application: • Deposit Summary Report • Daily Deposits Detail Report • Daily Deposit Detail Extract Report • Item Search Report Benefits you enjoy with using the Online Check Deposit service include: 34 • Simplified processing of deposits — Electronically depositing checks reduces the time required by you to make a typical deposit and streamlines the deposit process. • Reduced transportation costs — Because your deposits are made electronically, transportation costs associated with branch visits are reduced. • Accelerated cash flow — You can accelerate the collection of receivables when deposits are made throughout the day. • Added convenience — You are no longer required to make deposits during bank branch hours. Employees can transmit multiple deposits throughout the day. • Flexible reporting - Online Check Deposit offers you reporting through standard report options including a search feature. Reports can be exported into standard formats including .txt (Word), .pdf (Adobe), .html (Web page) and .csv (Excel). Online Bill Consolidator Online Bill Consolidator allows you to virtually receive all of your online bill payments from one source. When you sign up for this service, you will be set -up with a MasterCard RPPS Biller ID. This ID notifies all online payment originators that payments made to you should be sent to SunTrust. In addition, you will define your account number structure, for example, your account number always starts with a 1 followed by 9 numeric digits. Also, if your account number has a check digit routine, this will be included in your in the RPPS Biller Directory. Finally, the project manager will include your billing address. All of this information will ensure you receive accurate payment information and reduce the number of payments you cannot post to your Accounts Receivable platform. The consumers will go to their financial institution's online bill payment Web site and make • their payment. The financial institution will check to see if you have an RPPS Biller ID. If you have a biller ID, your payment data and funds may be sent to SunTrust through MasterCard RPPS. MasterCard will process the payment and determine if any other financial institutions have payments payable to you. RPPS will combine all of your payments into a consolidated data file bound for SunTrust. Also, RPPS will originate an ACH transaction to credit your SunTrust demand deposit account. Your payment data will be sent to the SunTrust EDI department where the RPPS data will be translated into your preferred format (EDI 820, BAI, or proprietary format). The file will include all of the information you will need to update your accounts receivable platform. On your data file you can include your customer's name, customer account number, amount paid, etc. The payment data will be sent to you using our secure Online File Transfer system. In addition, you can receive your data in a human- readable report that is viewable using our new Online Treasury Manager or Online Courier platforms. If you receive a payment that you are unable to post to your AR system, you can contact SunTrust Customer Service for assistance. The Customer Service group will use the MasterCard 35 RPPS Payment Center to inform them the transaction is not postable. MasterCard RPPS will initiate an ACH debit for the payment amount from your designated SunTrust DDA. You can choose to have MasterCard RPPS send ACH credits to one DDA and debits to a different DDA. To ensure you receive your payments faster, SunTrust will have two processing cycles. The first cycle will include any payments made after 3:00 a.m. and before 9:00 p.m. SunTrust will receive the data by 6:00 a.m. the next business day. Your DDA will be credited on the next business day by 10:00 a.m. and the data is available for you as early as 8:00 a.m. Payments made after 9:00 p.m. but before 3:00 a.m. will arrive at SunTrust on the next business day at 9:00 a.m. The data will be sent to you on the 2nd business day after 8:00 a.m. and the dollars will be credited to your account after 10:00 a.m. the 2nd business day. Benefits you may enjoy with Online Bill Consolidator include: • Reduce Mail Float. Online payments received through Online Bill Consolidator are no longer converted to checks that are mailed to your office or lockbox. Instead, you receive an ACH credit to your account. This expedites your receiving payments as quickly as 24- hours from the time a bill payer originates the payment online. • Increase Accuracy. Data entered by the bill payer is verified by MasterCard RPPS, incorporating the check -digit routine for your account numbers (if applicable), to ensure the correct account number was entered for the payment. • Reduce Errors. By processing bill payments electronically, processing errors associated with manual data entry are eliminated. • Improve Efficiency. Receiving both your payments and the data associated with them electronically eliminates the time and expense associated with processing paper -based • receivables. And, by receiving all of your online bill payment detail from a single source, Online Bill Consolidator, you reduce the reconciliation time associated with receiving data files from multiple online bill payment applications. • Please indicate any costs or fees associated with the services described in this section. Safekeeping Services Monthly Maintenance Fee: $2.25 per million of Safekeeping of Assets plus securities held Automated Investment Sweep Monthly Maintenance Fee: $150.00 Online ePay Manger Monthly Maintenance Fee: Depends upon the payment options you offer to your customers (Web, Telephone, IVR) Online Check Deposit 36 Monthly Maintenance Fee: $35.00 per location plus the cost of a scanner Online Bill Consolidator Monthly Maintenance Fee: $30.00 plus per item fee of .15 PURCHASING CARDS SunTrust Commercial Card Services manages a selective portfolio of clients in our commercial and corporate banking groups. Our clients cover a diverse range of industries including government, healthcare, manufacturing and media & Communication sectors. Currently, we serve over 1,700 commercial card clients, with special emphasis on our large market Purchasing Card and Corporate Card subset including market leaders such as The Coca Cola Company, Gannett and First Data Corporation (FDC). SunTrust began issuing credit cards in 1969. We expanded our bankcard business in 1995 to include Purchasing Card and Corporate Card services and today we are a top 10 provider of commercial card services (Nilson Report, July 2007). SunTrust's commercial card products are branded with the Visa logo and are accepted at more than 26 million merchants globally (6.5 million merchants in the United States). Enterprise Spend Platform, SunTrust's web -based card administration, expense management and reporting system, offers the most advanced commercial card solution in the marketplace including single sign -on to manage multiple programs (e.g. Purchasing Card and Corporate Card), electronic expense reporting for travel & entertainment, and unique features for AP integration that no other platform can offer. SunTrust Competitive Advantages Some of the competitive advantages that place SunTrust at the forefront of the Commercial Card industry is the strength of our pre - purchase and post - purchase controls that are built into our Enterprise Spend Platform application. Specifically, our ability to issue cards with $0 credit balances and dynamically fund those accounts immediately upon electronic workflow approval; this automated workflow reduces the administrative burden that would traditionally rest in the hands of the Program Administrator. Additionally, Enterprise Spend Platform's audit reports provide date and time stamps on all approvals and account changes; this provides your audit department strict oversight of the Program Administrator's actions with the card program. SunTrust is poised to help you implement advanced payment strategies that have provided our commercial card clients with significant spend opportunities driving growth upwards of five hundred percent. One of the key payment strategies that we have seen tremendous success with is ESP Payables. You can think of the ESP Payables process as similar to your check process, but using Purchasing Cards as the payment vehicle. One of the nice things about ESP Payables is that there are no changes to your organization's existing invoice approval process. By simply flagging 37 merchants in your AP system that have agreed to accept P -Card for payment, you can send us a payment file at the same time you submit check runs, with all the information you would typically print on checks, and we will email your suppliers a Remittance Advice, detailing the approved payments and provide a file back to you verifying when the payments have been completed. Enterprise Spend Platform has built in controls prohibiting payments to your suppliers in excess of the approved invoice amounts. Benefits of SunTrust Commercial Card Services include: Improve Efficiencies • Use SunTrust funds for up to 48 days to pay your bills • Reduce the number of checks in your organization • Independent studies show an average of a $69.34 savings for each purchasing card transactions vs. a check transaction • Streamline your accounts payable process (pay invoices without a check run) • Automate reconciliation Generate Revenue • Earn a "real - dollar" cash back rebate based upon the total number of dollars put on the card. • The rebate calculation begins with the first card transaction • No APR (no interest) card Improve Management Control & Visibility • Permission base usage only • Designate how cards can be used; you set the parameters for each cardholder • Real -time reporting • View statements and transaction activity at anytime; no waiting for paper statements (on- line for 2 years) In addition to the benefits above, your company is protected against employee misuse with Visa's Liability Waiver Program. Visa Liability Waiver Program Benefits • Automatic enrollment • No deductible and no extra cost • No maximum cap per company • Coverage up to $100,000 per cardholder • Simplified claim procedures 1. Can payments for these cards be made on -line? Please indicate any costs or fees associated with the services described in this section. Yes. Purchasing & Corporate Cards are non - revolving payment cards with no APR. Payments 38 are due in full each month. PRICING PROPOSAL This is a firm and irrevocable offer for ninety (90) days. Please refer to Section 2 for the Fee Proposal. Length of Contract The proposed length of this contract is FOUR (4) YEARS. Official Submitting Proposal: Organization: SunTrust Bank Name: Raymond Padgett Title: Vice President Phone: 912 - 944 -1204 Date: March 5, 2010 Signature:a / / i!I 39 1 Trek SunTrust Proforma ' Account Analysis Statement Buse" City of Tybee Island Balances Average Positive Ledger Balance $0.00 Average Ledger Balance $0.00 Less: Average Float $0.00 Average Collected Balance $0.00 Average Negative Collected Balance $0.00 Average Positive Collected Balance $0.00 Less: 0.00% Related Reserves $0.00 Average Available Balance $0.00 Net Analysis Position Value Of Applicable Available Balance $0.00 Eamings Credit Rate 0.00% Less: Balance Based Charges $473.72 Net Analysis Position ($473.72) Balances Available for Additional Services 0.00 Services Provided For This Period Volume Unit Price Total Expense Bal Required Demand Deposit Services .r 3021 Account Maintenance - Monthly 7 7.0000 . $49.00 $0.00 3991 Insufficient Funds Items 0 0.0000 $0.00 $0.00 3982 Unavailable Funds Items 0 0.0000 $0.00 $0.00 3220 Deposits Credited 192 0.65000 $124.80 $0.00 3268 Electronic Credits Posted 15 0.0200 $0.30 $0.00 3651 Items Deposited 0 0.0850 $0.00 $0.00 3880 Deposit Correction 0 3.0000 $0.00 $0.00 3261 Items Paid Not Enclosed 0 .0.0800 $0.00 $0.00 3263 Items Paid Enclosed 406 , 0.2000''` $81.20 $0.00 3267 Electronic Debits Posted 15 ` 0.0200 $0.30 $0.00 3258 Check Cashing Fee 0 0.0000 $0.00 - $0.00 subtotal: $255.60 $0.00 Returned Check Services 6631 Returned Items 3 3.0000 $9.00 $0.00 6625 Return Items - Represented 3 1.3000 $3.90 - $0.00 subtotal: $12.90 $0.00 Branch /Night Deposit Services 2 9290 Branch Cash -Night Bag/ATM Dep 44 1.3000 $57.20 $0.00 9291 Branch Cash OTC Deposit/$1000 0 1.3000 $0.00 $0.00 3 9299 Night Bag Process Disposable 21 1.2500 , $26.25 $0.00 9300 Night Bag Process Non Disp 0 1.2500 $0.00 - - $0.00 subtotal: $83.45 $0.00 ACH Services ' 73402 OTM ACH Batch Processing Fee 3 2.0000 $6.00 $0.00 5 73404 OTM PPD Credits 381 0.0200 $7.62 $0.00 73401 OTM ACH Coll Appl Mthly Fee 1 0.0000 $0.00 $0.00 subtotal: $13.62 $0.00 Thursday, March 04, 2010 Vers: 09/25/0913:16 Page 1 of 2I Services Provided For This Period Volume Unit Price Total Expense Bal Required Wire Transfer Services 6 45320 Wire Trsf Monthly Maint/Acct 1 2.7500 $2.75 $0.00 45323 W/T Out Rep /Semi (Oper Assist) 1 3.1000 $3.10 $0.00 45324 W/T Out Non -Rep (Oper Assist) 0 4.3000 $0.00 $0.00 45343 W/T Incoming 0 2.3500 $0.00 $0.00 subtotal: $5.85 $0.00 Online Treasury Manager Corp 73254 Info Rptg Maintenance Fee 1 25.0000 $25.00 $0.00 73256 PD Service /Per Month 1 6.0000 $6.00 $0.00 73258 PD Acct Maint/Per Acct 7 5.0000 $35.00 $0.00 73260 PD Detail /Per Item 635 0.0200 $12.70 $0.00 73268 Special.Rpt Service /Per Month 1 4.0000 $4.00 $0.00 73272 CAR Report/Per Day 21 0.1000 $2.10 $0.00 73280 Stop Service /Per Month 1 7.5000 $7.50 $0.00 73282 Stop Payment/Per Stop 0 0.0000 $0.00 $0.00 73284 ACH Service /Per Month 1 10.0000 Ve $10.00 $0.00 73286 Acct Transfer /Per Transfer 0 i• 0.0300 $0.00 $0.00 73292 Image Acct Maint/Per Mo 1 0.0000 $0.00 $0.00 73294 Image Item Retrieval /Per Image 0 0.2500 $0.00 $0.00 subtotal: $102.30 $0.00 Online Courier 73297 Online DDA Statement 0 5.0000 $0.00 $0.00 73298 Online Analysis Statement 0 5.0000 $0.00 $0.00 subtotal: $0.00 $0.00 Total: $473.72 $0.00 1 volume unknown 2 Assuming $44,000 in cash is deposited monthly in the night drop. 3 Assuming a daily deposit in night drop 4 Assuming 3 payroll files per month 6 Assuming 127 direct deposits per file (127x3381) 6 Assuming General Fund only Some fees for accounts on analysis may be offset by the value of the balances in the account. Fees for additional services are available upon request. Please contact your Treasury Management Officer, Relationship Manager or Business Banker for details. Member FDIC. © 2006, SunTrust Banks, Inc. SunTrust is a federally registered service mark of SunTrust Banks, Inc. Thursday, March 04, 2010 Vers: 09/25/0913:16 Page 2 of 2 1 City if ee Commercial Card Services Executive Summary Presented By Ve SUNTIUST $ March 30, 2010 Contact: Gary W. Rice VP, Card Sales Officer SunTrust Commercial Card Services gary.riceAsuntrust.com (954) 766.2374 Confidential Page 1 of 8 EXECUTIVE SUMMARY Overview of SunTrust Commercial Card Services SunTrust Commercial Card Services manages a selective portfolio of clients in our commercial and corporate banking groups. Our clients cover a diverse range of industries including government, healthcare, manufacturing and media & Communication sectors. Currently, we serve over 1,200 commercial card clients, with special emphasis on our large market Corporate Card and Corporate Card subset including market leaders such as The Coca Cola Company, Ashland, Inc., The Bank of Oklahoma, Gannett and First Data Corporation (FDC). SunTrust began issuing credit cards in 1969. We expanded our bankcard business in 1995 to include Corporate Card and Corporate Card services and today we are a top 10 provider of commercial card services (Nilson Report, July 2007). SunTrust's commercial card products are branded with the Visa logo and are accepted at more than 26 million merchants globally (6.5 million merchants in the United States). Enterprise Spend Platform, SunTrust's web -based card administration, expense management and reporting system, offers the most advanced commercial card solution in the marketplace including single sign -on to manage multiple programs (e.g. Corporate Card and Corporate Card), electronic expense reporting for travel & entertainment, and unique features for AP integration that no other platform can offer. SUNTRUST COMPETITIVE ADVANTAGES Some of the competitive advantages that place SunTrust at the forefront of the Commercial Card industry is the strength of our pre - purchase and post - purchase controls that are built in to our Enterprise Spend Platform application. Specifically, our ability to issue cards with $0 credit balances and dynamically fund those accounts immediately upon electronic workflow approval; this automated workflow reduces the administrative burden that would traditionally rest in the hands of the Program Administrator. Additionally, Enterprise Spend Platform's audit reports provide date and time stamps on all approvals and account changes; this provides your audit department strict oversight of the Program Administrator's actions with the card program. SunTrust is poised to help you implement advanced payment strategies that have provided our commercial card clients with significant spend opportunities driving growth upwards of five hundred percent. One of the key payment strategies that we have seen tremendous success with is ESP Payables. You can think of the ESP Payables process as similar to your check process, but using Corporate Cards as the payment vehicle. One of the nice things about ESP Payables is that there are no changes to your organization's existing invoice approval process. By simply flagging merchants in your AP system that have agreed to accept P -Card for payment, you can send us a payment file at the same time you submit check runs, with all the information you would typically print on checks, and we will email your suppliers a Remittance Advice, detailing the approved payments and provide a file back to you verifying when the payments have been completed. Enterprise Spend Platform has built in controls prohibiting payments to your suppliers in excess of the approved invoice amounts. Confidential Page 2 of 8 Benefits of SunTrust Commercial Card Services include: Improve Efficiencies • Use SunTrust funds for up to 48 days to pay your bills • Reduce the number of checks in your organization • Independent studies show an average of a $69.34 savings for each card transactions vs. a check transaction • Automate reconciliation Generate Revenue • Earn a "real - dollar" cash back rebate based upon the total number of dollars put on the card. - - • The rebate calculation begins with the first card transaction • No APR (no interest) card Improve Management Control & Visibility • Permission base usage only • Designate how cards can be used; you set the parameters for each cardholder • Real -time reporting - View statements and transaction activity at anytime; no waiting for paper statements (on -line for 2 years) In addition to the benefits above, your company is protected against employee misuse with Visa's Liability Waiver Program Visa Liability Waiver Program Benefits • Automatic enrollment • No deductible and no extra cost • No maximum cap per company • Coverage up to $100,000 per cardholder • Coverage for cash advances, officers, and ghost accounts • Simplified claim procedures Dedicated Card Team Focused on Helping you to meet your goals and objectives: The SunTrust team assigned to your company's card program is lead by a Card Program Officer (CPO). The CPO is your primary card liason with SunTrust and is responsible for the general management of SunTrust's commercial card relationship with your company. A cornerstone of the way SunTrust conducts business is our consultative approach —we ask questions, listen, and make program suggestions based on our years of experience. We have assembled a highly specialized service team to guide you through the implementation of your card program and to provide superior ongoing consultation and service. The members of this team include the following: Card Sales Officer During the sales process, the SunTrust Card Sales Officer is responsible for understanding your company's business requirements, developing solutions to meet your needs and leading the bid process. Card Program Officer A Card Program Officer will be assigned to your company who will have account management responsibilities. The Card Program Officer is responsible for leading the implementation process and provides ongoing relationship management for commercial card services. Confidential Page 3 of 8 Card Account Coordinator A Card Account Coordinator will be assigned to your company. Your Account Coordinator will have an ongoing role as your day to day contact for your program administrator(s). Our Card Account Coordinator team consists of pods of three individuals; each Account coordinator has their assigned portfolio and also backs up two other Account Coordinators; effectively providing your company 3 Account Coordinators that are familiar with your program. Card Technology Officer A Card Technology Officer will be assigned to provide technical expertise and consultation with your IT department on systems integrations. The Card Technology Officer leads the set up of our web -based account management and reporting application for your organization. Customer Service Line For cardholders, SunTrust has a toll -free customer service line available 24x7x365. Additionally, SunTrust has professional service resources available for supporting vendor enrollments and program optimization studies. In all, over 180 employees manage the SunTrust Commercial Card program. Our sales and account management team, with a staff of 35, provide relationship management and coordinate activities for implementation and maintaining a successful commercial card program. SunTrust BankCard provides services such as toll -free customer service, payment processing, finance administration, collections and information technologies. Our BankCard workforce consists of 150 Full time employees. PURCHASING CARD OVERVIEW The SunTrust Corporate Card enables companies to streamline their procurement, expense management, accounts payable processes, reduce purchase orders, improve cycle time for procurement and delivery of goods, eliminate manual entry of invoices, maximize ROI with eProcurement, aide compliance with Sarbanes -Oxley regulations and provide hard dollar savings. Organizations that work with SunTrust have experienced much success utilizing both Corporate & P -Card. With the tremendous advances in technology over the past few years, Purchasing Card has expanded beyond small - dollar high - volume procurement. More and more SunTrust clients are utilizing our Enterprise Spend Platform technology, leveraging its controls and oversight to capture high dollar transactions on Purchasing Card, including direct material and capital expenditure items. Purchasing Card can be centrally billed. It is a corporate liability card product that provides flexibility in billing and payment terms that allows our clients to maximize financial incentives. REPORTING & ACCOUNT MANAGEMENT Enterprise Spend Platform, SunTrust's web -based reporting and account management tool, provides the most advanced card optimization and control features available in the market. Enterprise Spend Platform allows our clients to set -up new cardholders and maintain accounts in a real time environment. Control parameters include daily transaction limits, maximum transaction $ limits, merchant category privileges and more. Enterprise Spend Platform's reporting capabilities provides effective tools to manage your program data, including exporting reports and data. We can also integrate directly into your accounts payable system using ESP Payables technology which allows for tight (direct connection to system for data exchange) or loose (batch files) integration. Confidential Page 4 of 8 The control features of Enterprise Spend Platform include: • 24 x 7 online access • Unlimited users with permissions based sign -on • Intuitive, user - friendly navigation • Individual card account status • Request, activate and suspend cards online • Modify individual card settings in real -time, either card -by -card or groups of cards via Card Profiles • Expense reporting (including out of pocket expenses) • Enforce static card controls at the point -of- purchase • Merchant category code (MCC) restrictions • Transaction limits and credit limits • Monitor /view program success metrics • Audit logging of card program changes and actions • Supports post - purchase transaction details, reallocation and approval • Offers transaction file export to a financial application • Transaction data updated daily for immediate access to spending information • Permissions -based online access to data and reports • Visibility into individual or group spending activity • Full transaction data export for further analysis • Facilitates user review and accountability • Automation reduces manual activities to exception - handling • Supports cyclical product enhancements /upgrades • Offers client services supporting the customer's environment Confidential Page 5 of 8 Statement T .u, , 'co. Expense Payables �K?rx�ov' i a� Manager Fu T Manager Manager fkil -7 . Enterprise Spend Platform Card Administration 1 program Administration 1 Information Reporting 1 Data Management I Accounting \, Statement Manager View detailed statements for SunTrust Corporate Card and Corporate Card programs. Statement Manager also provides presentment of third party statements such as Cellular /Mobile providers and multinational commercial card partners — all from the same screen. Transaction Manager Manage outstanding transactions that require attention or actions, such as: GL coding, adding comments, transaction disputes, breaking out sales tax, checking against corporate policies, submitting for manager approval, and reviewing for approval status. 1 s$ i Expense Manager Perform end -to -end expense reporting and reimbursement for both card and out -of- pocket transactions. Reconcile against company spending policies, attach electronic receipts, claim mileage reimbursement and per diems, allocate to GLs, add comments to the transaction or manager approval, and streamline integration to your accounts payable system. • Payables Manager Integrate Corporate Card into your A/P process and migrate invoice payments from check to Corporate Card. Payables Manager increases visibility with invoice payments and helps reduce check fraud. Requisition Manager Create pre - purchase forms to fit any buying need. With the customizable business rules, approved requests dynamically fund specific cards, allowing for immediate spend capability. Confidential Page 6 of 8 FINANCIALS Fee Schedules Card Fees Item Cost Card Logo Design (one color, standard) Waived Annual Card Fee Waived Annual Executive Card Fee (Corporate Card Only) $100 per card Annual Visa Extra Rewards Fee (Corporate Card Only) $75, per enrolled card Cash Advance Fee 3% ($3 minimum /$30 maximum) Late Fee Central Bill 1% of outstanding balance Late Fee Individual Bill (Corporate Card Only) $15 Foreign Transaction Fee Pass through from Visa (currently 1 %) Non - Sufficient Fund Fee $29 each Copy of Sales Slips & Statements $3 each Card Replacement Fee None "Rush" Delivery Fee for Card Replacement $25 Enterprise Spend Platform Technology Fees Item Cost .' ESP Statement Manager Set -up Fee $0.00 Per Statement Fee $0.00 3 Party Data Import Set -up Fee (non - SunTrust) $1,000 per 3` Party 3 Party Statement Fee $2.00 per active statement (monthly) ESP Transaction Manager Single -level Approval Set -up Fee $1,000 * Multi -level Approval Set -up Fee $5,000 * ESP Expense Manager Set -up Fee $5,000 Per Expense Report Option Per Expense Report $2.00 Per Expense Report without SunTrust Card spend ( >10% of $3.00 ** Reports) ESP Payables Manager Set -up Fee $5,000 ESP Requisition Manager Set -up Fee $0.00 Per Requisition with SunTrust Cards spend $0 Per Requisition without SunTrust Cards spend ( >10% of $0.15 per Requisition * ** Requisitions) Miscellaneous Custom ETI Development Fee Up to $1,000 per custom ETI Imaging Set -Up Fee $1,000 Per Image Fee $0.20 per image ($100 minimum monthly fee) Custom Data Extract File Set -up Fee $1,500 per custom extract Auto Generation of Data Extract File Set -up Fee $1,500 Auto Delivery of Data Extract File Set -up Fee $1,500 Professional Services $100 per hour * (One -time fee for initial set -up of approval workflow, general ledger configuration, and training.) ** (Applies when greater than 10% of the Expense Reports or greater than 10% of the Active Users submit Expense Reports without linked SunTrust Card Spend. Fee will be assessed to each Expense Report or each Active User without linked SunTrust Card Spend.) * ** (Applies when greater than 10% of the Requisitions generated are not linked to SunTrust Card Transactions. Fee will be assessed to each Requisition without linked SunTrust Card Spend.) * * ** ESP Payables Manager only automates AP authorization files for programs with a minimum of $5 million Annual Spend (1) Active User is a registered user with one or more transactions in the period. Confidential Page 7 of 8 Net -Spend Rebate Program In accordance with the table, below, at the end of each rebate period, the Company shall receive a revenue share of its Net Spend* based upon the following calculation. The Annual Spend shall be the sum of Purchases and Cash Transactions, less Credits, less Fees, less Past Due Amounts ( "Past Due Amounts" mean the portion of the outstanding balance as shown on the periodic statements that is not paid by the payment due date). The Net Spend shall be the Annual Spend less "Cash Transactions" ( "Cash Transactions" mean transactions from financial institutions such as cash advances, convenience checks, travelers' checks, gift cards, etc.) and Visa Large Ticket transactions. At the end of each rebate period, the Net Spend Rebate* shall be the Net Spend for the rebate period, multiplied by the Rebate Rate and reduced by charge -offs (which may carry over to subsequent rebate periods). Charge - offs mean all amounts that remain unpaid by the Company or Cardholder for a period of 180 days, including personal charges made by the Cardholder or Authorized User. Rebate periods are yearly (January through December) commencing on the first cycle date the Company is activated on the Bank's processing system and shall continue for the term of the Agreement. Rebate payments shall be paid to the Company by check or ACH within sixty (60) days after the end of each calendar year. REBATE RATE P -Card P -Card P -Card P -Card P -Card C -Card Monthly Bill Monthly Bill Monthly Bill 2x Monthly Bill Weekly Bill Monthly Bill Annual Spend 7 day pay 18 day pay 25 day pay 10 day pay 5 day pay 25 day pay < $1,000,000 0% 0% 0% 0% 0% 0% $1,000,000 to $5,000,000 0.91% 0.80% 0.73% 0.90% 1.00% 0.65% $5,000,000o $10,000,000 1.06% 0.95% 0.88% 1.05% 1.15% 0.75% $10,000,000;to $25,000,000 1.21% 1.10% 1.03% 1.20% 1.30% 0.85% $25,000,000to $50,000,000 1.36% 1.25% 1.18% 1.35% 1.45% 0.95% >$50,000,000 1.46% 1.35% 1.28% 1.45% 1.55% 1.05% * Net Spend Rebate = [Net Spend x Rebate Rate] — [Chargeoffs] Net Spend = [Annual Spend] — [Visa Large Ticket] — [Cash Transactions] Annual Spend = [Purchases] + [Cash Transactions] — [Credits] — [Fees] — [Past Due Amounts] Visa Large Ticket Rebate Program At the end of each rebate period, the Company shall receive a revenue share of its Visa Large Ticket transactions based upon the following calculation. The Visa Large Ticket Rebate shall be the sum of the Visa Large Ticket transactions for the rebate period multiplied by .0035. Rebate periods are yearly (January through December) commencing on the first cycle date the Company is activated on the Bank's processing system and shall continue for the term of the Agreement. Rebate payments shall be aggregated with the Net -Spend Rebate Program and paid to the Company by check or ACH within sixty (60) days after the end of the rebate period Confidential Page 8 of 8 J SUlirRUST"" Service Glossary Service Code Service Description Definition 9 Negative Collected Charge Rate -based charge assessed for maintaining a negative collected balance for one or more days during the analysis period. 35 Deposit Insurance Per $1000 FDIC Insurance fee charged on monthly average positive ledger balances at a rate of .109 per $1000. The fee consists of both a charge for the FDIC insurance premium and the FICO assessment collected by the FDIC. 9290 Branch Cash -Night Bag /ATM Dep Charge for processing and verifying a deposit presented to the bank's branch office night depository for a deposit. The appropriate bag fee also applies if the deposit was delivered in a bag. 9291 Branch Cash OTC Deposit/$1000 Charge for processing cash over the counter at the bank's branch office. 9299 Night Bag Process Disposable Charge for handling and posting a deposit contained in a disposable bag delivered to the bank's branch office or night depository facility. The bag is thrown out. Contents are priced separately. 9300 Night Bag Process Non Disp Charge for handling and posting a deposit contained in a non - disposable (e.g. canvas or locked) reusable deposit bag delivered to the bank's branch office or night depository facility. The bag is retumed to the customer. Contents are priced separately. 12086 Deposit Receipt Faxed Charge for the total number of e- advice reports faxed for all locations associated with account being reported. 12262 Cash VLT Monthly Maint 2 -9 Loc Monthly Maintenance fee for Cash Vault clients with 2 - 9 locations. 12427 Cash VLT Other -Faxed Copies Charge for providing reports and other documents to customers via facsimile. 12492 Cash Vault Deposits Charge for handling and posting a deposit consisting of any combination of coin, currency, checks, food stamps or merchant card drafts delivered to the bank's cash vault facility. 12812 Cash VLT Phone Notify Dep Error Charge for notifying a client of a deposit with an error(s) delivered to the bank's cash vault facility. 13135 VLT Deposit Error Charge for handling and processing a deposit with an error(s) delivered to the bank's cash vault facility. 13136 VLT Currency Dep Full Strap Charge for processing and verifying currency deposited at the bank's cash vault facility when the bills are strapped in Federal Reserve standard quantities (100 bills /strap and sorted by denomination). 13147 VLT Currency Dep Half Strap Charge for processing and verifying currency deposited at the bank's cash vault facility when the bills are strapped 50 bills /strap and sorted by denomination. 13148 VLT Currency Dep Loose Bill Charge for processing and verifying non - strapped currency deposited at the bank's cash vault facility. 13154 VLT Coin Deposit Full Bag Charge for processing and verifying coin deposited at the bank's cash vault facility when the coin is sorted by denomination and bagged in Federal Reserve standard quantities. 13165 VLT Coin Deposit Mix Bag Charge for processing and verifying coin deposited at the bank's cash vault facility when unsorted or less than a full bag of coin is delivered in a sealed container. The cash vault must count the coin to determine the dollar amount before crediting the customer's account. The cash vault's count is accepted by the customer as the deposited amount. Monday, March 29, 2010 Vers:09/25/09 13:16 Page 1 of 1 M fr SunTrust Proforma Account Analysis Statement Sv tusM City of Tybee Cash and Coin Processing I I Services Provided For This Period Volume Unit Price Total Expense Branch /Night Deposit Services 9290 Branch Cash -Night Bag/ATM Dep 0 1.2700 $0.00 9291 Branch Cash OTC Deposit/$1000 0 1.2700 $0.00 9299 Night Bag Process Disposable 0 1.2000 $0.00 9300 Night Bag Process Non Disp 0 1.2000 $0.00 subtotal: $0.00 Cash Vault Services Itc (P 00 12262 Cash VLT Monthly Maint 2 -9 Loc 1 39.0000 r Q0" 12492 Cash Vault Deposits 80 1.0400 $83.20 12427 Cash VLT Other -Faxed Copies 0 0.5000 $0.00 13135 VLT Deposit Error 0 8.2800 $0.00 13136 VLT Currency Dep Full Strap 0 0.3400 $0.00 13147 VLT Currency Dep Half Strap 0 0.3200 $0.00 13148 VLT Currency Dep Loose Bill 0 0.0200 $0.00 13154 VLT Coin Deposit Full Bag 80 0.5600 $44.80 13165 VLT Coin Deposit Mix Bag 0 2.7800 $0.00 12812 Cash VLT Phone Notify Dep Error 0 2.5600 $0.00 12086 Deposit Receipt Faxed 0 0.5000 $0.00 _ subtotal: $167.00 Total: $167.00 Some fees for accounts on analysis may be offset by the value of the ba lances in the account. Fees for additional services are available upon request. Please contact your Treasury Management Officer, Relationship Manager or Business Banker for details. Member FDIC. © 2006, SunTrust Banks, Inc. SunTrust is a federally registered service mark of SunTrust Banks, Inc. f CA '" I . Monday, March 29, 2010 Vers: 09/25/09 13:16 Page 1 of 1