Payment and Receivables Processing Services

The vendor is required to provide of the collection process for escrowed real property taxes and related charges, for the process of validating, aggregating, and consolidating files received from companies, matching the company files payment totals to a single payment made via fedwire1, and producing a consolidated output file for the agency to post payment records to taxpayer’s accounts.
- Provide to provision services to validate and translate files received from company, match the files to a single incoming payment and produce a consolidated output file for the department to post to taxpayer’s accounts.
- The department receives company payments almost daily, but in the months before and in the two weeks after the quarterly property tax billing due dates (the first of July, October, January, and April) the department receives the bulk of the payments.
- The contractor will be required to receive and validate the files described below from each company for matching and reconciliation with the fed wire payment deposited in the city’s bank account.
- Contains multiple records indicating the amount to apply to each borough-block-lot (BBL) and to which period.
- Create a service that will validate, and match received company remittance data files with the deposited fed wire, ensuring that the file id and the dollar amount are the same as the file id and the dollar amount of the company data files prior to processing.
- Contract Period/Term: 6 years
- Pre-bid conferences Date: April 07, 2025
- Questions/Inquires Deadline: April 14, 2025