Banking Services

The vendor required to provide banking services through a solution-based approach.
- This solicitation employs a solution-based approach, allowing proposers to recommend banking service configurations, technologies, and methodologies that best address the city’s operational requirements and strategic objectives rather than prescribing specific products or service delivery methods.
- Operating and depository account (interest on excess checking, EPA ach filter):
•    This account is the city’s primary operating account. 
•    The city’s cash receipts flow through this account either by transfer, or by deposit from cash handling facilities, lockbox, consumer credit card receipts, or wire transfer and ach payments from various sources for different departments. 
•    Receipts include taxes, fees for city services, grant proceeds, investment transactions and transfers from other accounts. 
•    Disbursements from this account include payroll direct deposit, investment transactions, debt payments made by wire, transfers to other city accounts, and wires payments to other parties. 
•    No checks are written on this account.
- Controlled disbursement account (positive pay, EPA ach filter, ZBA):
•    The city issues approximately 900 checks monthly, drawn on the controlled disbursement account, to pay approved billings; the controlled disbursement account will be funded from the operating and depository account. 
•    This account also features payee positive pay.
- Court account (interest on excess checking, EPA ach filter):
•    This is a checking account administered by the city’s municipal court and is used to pay refunds of bonds. 
•    This account is replenished from time to time from the city’s operating and depository account. 
•    This account also features payee positive pay.
- Pension account (interest on excess checking, positive pay, EPA ach filter):
•    This is a checking account administered by the pension administrator and is used to receive pension contributions from the city’s operating and depository account that are then sent as an ach file to the city’s pension administrator. 
•    The account also processes participant payments, quarterly administrative fees, and reimburses the city for plan expenses.
- Flexible spending account (interest on excess checking, positive pay, EPA ach filter):
•    This is a checking account, and is used to pay flexible spending enrollment, employee deductions and ongoing fees. 
•    This account is replenished from time to time from the city’s operating and depository account.
- Sales tax account (interest on excess checking, positive pay, EPA ach filter, zero balance account (ZBA)):
•    Taxpayers may pay their sales tax due via ach credit. 
•    This account accumulates the payments received and a daily batch payment will be deposited into the city’s operating and depository account. 
•    To ensure that payments reach the city’s account, and can be matched with the corresponding tax return, a taxpayer’s ach credit files use the NACHA cash concentration and disbursement plus (CCD+) format with tax payment (TXP) banking convention addenda record for each entry detail record. 
•    The payment addenda records are compiled into a single file and made available in a sftp site along with a customer activity report (car) which includes returned items.
•    This account is also currently used for ach debit payments as described in the ach services section below.
- Checking account features:
1. Check safekeeping:
•    The city utilizes check safekeeping provided by the current consultant on all of its checking accounts. 
•    High-resolution image recovery showing the front and back of each check is required. 
•    The city currently obtains images through online access and may require higher quality printed copy of the check in certain situations.
2. Positive pay and payee validation:
•    The city electronically transfers a bank specified standard format flat file to the current consultant weekly, but has the ability to send multiple files, for vendor payments, bi-weekly for payroll, which lists all checks issued for the week including the check number, amount, check date, and payee name. 
•    The files are uploaded to the consultant’s website. 
•    Exceptions are required to be decisioned, using the consultant’s website, by 3:00 pm mountain time.
3. Stop payments:
•    The city initiates stop pay requests through online access to the current consultant.
- Depository services:
1. Deposits:
•    Deposits are collected and processed through seventeen (17) different cash handling facilities and are delivered to the consultant daily by the city’s armored car vendor. 
•    The city utilizes multiple desktop deposit scanners for three (3) facility locations. 
•    The consultant processes the deposit and notifies the city of any exceptions. 
•    As verification of the exception, the consultant provides documentation electronically.
•    Checks deposited into the city’s operating account that are returned due to insufficient funds will be automatically redeposited a second time. 
•    Checks that are returned a second time must be debited to the city’s operating account. 
•    The consultant will send a notice to the city via e-mail and notice should be available through the consultant’s secure online website.
- Merchant services
•    The city accepts visa, Mastercard, discover, and American Express at some locations for various charges and fees.
•    These merchant ids are mostly comprised of recreation and library facilities.
•    The recreation facilities utilize as their point-of-sale system. 
•    To process credit and debit card payments, the city must use card connect as a gateway systems integrated payment processing system. 
•    Currently the city utilizes card connect as a gateway.
•    The two library facilities and in-person police department records division utilize payment mate through tempus technologies to process credit and debit card payments.
•    The fire department has a 3rd party biller who utilizes an online virtual terminal developed by tempus technologies to process credit and debit card payments.
•    Most of the settlements (sales less refunds) are received via ach credit to the main operating account.

- Contract Period/Term: 1 year
- Pre-Proposal Meeting Date: December 15, 2025
- Questions/Inquires Deadline: December 16, 2025