Banking Services

The vendor required to provide to establish and operate a system of banking services, which will provide for:
•    The immediate, secure deposit and transfer of funds;
•    The availability of funds to meet the obligations of the agency;
•    The accurate and satisfactory collateralization of all funds;
•    The immediate and adequate accounting for all funds;
•    Compliance with all applicable laws, rules and regulations of federal and state governing bodies.
- Fee agency account requirements
1. Deposit services
•    The bank shall agree that wire transfers and ach credits will have same day availability. 
•    The bank shall agree to credit the account with the amount shown on deposit tickets. 
•    The bank agrees to notify by telephone the accounting supervisor in the fiscal division office of any discrepancy in the deposit. 
•    Adjustments must be agreed upon by the accounting supervisor and the bank. 
•    The bank shall provide printed duplicate NCR deposit tickets in such amounts as are required from time to time, approximately 1000 deposit tickets per year. 
•    Suggested copies for this purpose are available at the fiscal division office for inspection. 
•    The bank shall send for exchange and collection all foreign currency and checks to be converted to country dollars. 
•    A cashier's check shall be issued to the agency upon collection. 
•    The bank shall agree to process all returned checks a second time before returning them to the agency. 
•    The bank shall charge the account for the amount of the returned checks. 
•    The accounting supervisor or accountant from the fiscal division office is a representative of the agency will pick up the returned checks from the bank along with a copy of the charge to the account. 
•    The agency requests these not be mailed. 
•    The bank shall agree to provide currency and coin to the agency when requested. 
•    The agency shall either present a check or may make a cash exchange for the currency and coin. Coin wrappers shall be provided when requested by the agency. 
•    The bank shall provide such other equipment and supplies as may be required to provide the level of service specified by the agency. 
•    The bank shall provide research services relative to account activity. 
•    The bank shall provide cashier’s checks to the agency when requested. 
•    Minimal volume is anticipated. 
•    The bank shall provide online banking services as follows: provides the agency online electronic banking with real-time deposit and disbursement detail, provides the ability to perform online transfers between accounts, and monthly electronic bank statements.
2. Bank statements
•    The bank shall provide to the authorized representative of the agency a detailed bank statement of all debits and credits, and include all supporting documentation, within five (5) business days following the last day of each calendar month via online banking services. 
•    All canceled checks included in the bank statement shall be sorted in numerical order. 
•    The bank statement should include a separate listing of the checks in numerical order. 
•    The bank shall also forward photocopies of the statement only to the pooled money investment board by mail within five (5) business days following the last day of each calendar month.
3. Daily closing ledger balance
•    The daily closing ledger balance is the daily closing ledger balance on the books of the agency, which shall include, for this purpose, all deposits received by the bank during regular banking hours on such day.
4. Account analysis
•    The bank shall provide a complete monthly account analysis of the fee agency account to the agency including the average daily balance, average collected balance, service charges and interest credit. 
•    A copy of the banks statement and the account analysis shall also be provided to the pooled money investment board.