Brief

The Mayor introduced a proposed contract with Loomis Armored U.S., LLC to provide armored courier services citywide. The City Administrative Officer submitted the related report on May 13, 2026. The Budget and Finance Committee waived consideration of the item on May 20, 2026, effectively moving it forward without committee review. The file remains open pending further council action.

Full summary

The Office of Finance is seeking Council approval to hire Loomis Armored U.S., LLC to pick up and deliver bank deposits — cash, checks, and other valuables — from more than 70 City facilities to designated financial institutions. The service is needed citywide, spanning police stations, recreation centers, administrative offices, and other locations from San Pedro to Chatsworth. The proposed contract runs five years with a five-year option to extend, for a maximum cumulative cost of $7.2 million, or roughly $720,000 per year. The City has been getting this service informally through JPMorgan Chase's banking contract, which includes access to Brink's Armored Services as a courtesy arrangement. JPMorgan Chase has no contractual obligation to continue providing it, and Finance determined that relying on this uncontracted arrangement creates ongoing risk to the secure transport of City tax revenue, permit fees, and other cash collections. To formalize the service, Finance issued a competitive Request for Proposals in May 2025. Only one bid was received — from Loomis — which an evaluation panel of Finance Treasury staff scored at 71.1 out of 100, finding the company qualified to meet the City's needs. The Personnel Department separately confirmed, under Charter Section 1022, that the City lacks employees with the classifications to perform this work in-house. The draft contract requires Loomis to provide daily armored pickup and delivery Monday through Friday at each participating department's location, with make-up trips at no charge if a scheduled pickup is missed. Each shipment carries a maximum liability of $50,000, with fees ranging from roughly $151 to $910 per month per location depending on service frequency and zone. Annual rates will adjust with the Consumer Price Index, and a fuel surcharge tied to diesel prices applies. The City Treasurer signed the draft agreement on March 4, 2026, and the City Attorney has reviewed it as to form. The Mayor transmitted the contract for Council approval on May 13, 2026, triggering a 60-day window under Administrative Code Section 10.5(a), after which the contract is deemed approved if the Council takes no action. The Budget and Finance Committee waived consideration on May 20, 2026, moving the item toward the Council floor without formal committee deliberation. Annual funding of $720,000 is drawn partly from the existing Bank Services Fees account, with the balance submitted as a 2026-27 budget request. The file remains open pending a Council vote.

Activity (3)

• 2026-05-20 Budget and Finance Committee waived consideration of item .
• 2026-05-14 City Administrative Officer document(s) referred to Budget and Finance Committee.
• 2026-05-13 Document submitted by the Mayor, City Administrative Officer report dated March 27, 2026.

Documents (1)

• 2026-03-27 Report from City Administrative Officer · report