To: Board of Supervisors
From: Dan Mierzwa, Treasurer-Tax Collector
Report Title: APPROVE AND AUTHORIZE the County Treasurer-Tax Collector, or designee, to extend the existing agreement with Loomis Armored US, LLC for armored cash transportation services.
RECOMMENDATIONS:
APPROVE and AUTHORIZE the County Treasurer-Tax Collector, or designee, to extend the existing agreement with Loomis Armored US, LLC (“Loomis”) for armored cash transportation services in an amount not to exceed $150,000.00 for the period 7/12/2026 through 7/11/2029 with two possible one-year extensions. The total amount with the extension will not exceed $250,000.00.
FISCAL IMPACT:
Service fees and costs will be paid out of the investment revenues generated from the County Treasury Pool, specifically the General County Revenue Fund.
BACKGROUND:
Upon completion of an RFI search, the Board of Supervisors authorized the County Treasurer-Tax Collector to enter into an agreement with Loomis for armored cash transportation services in July 2021 for a 5-year term which ended on June 30, 2026.
In the past few years, the armored car industry has faced many significant challenges, including a limited labor force, increased labor costs, insurance increases and heightened security measures that are being implemented. The intense operational and regulatory pressures have led to broad market consolidation leaving only two national armored transportation companies, including Loomis, that are suitable for the County. After considering many factors, such as services, reputations, references, and costs, the County Treasurer has concluded that it is in the best interest of the County to extend the existing agreement with Loomis. The agreement contains a clause whereby the County is required to indemnify Loomis from all claims relating to the property that is in Loomis’ custody, which was provided for transportation by the County Treasurer.
CONSEQUENCE OF NEGATIVE ACTION:
If the agreement with Loomis is not extended, the County Treasurer will not have an armored courier to transport cash/checks from the County Treasurer’s Office to the Wells Fargo Cash Vault.