Banking Services

The Vendor is required to provide banking partner capable of managing a minimum of twenty (20) checking accounts, with the ability to add additional accounts as necessary.
- Public funds checking (standard)
•    The majority of the twenty accounts (including the 16 school activity accounts) must be established as interest-bearing public funds checking accounts.
- ESPLOST account (specific)
•    These accounts must provide high transaction liquidity for daily school operations. 
•    District expects competitive interest rates or a "compensating balance" structure that offsets monthly service fees across the entire account relationship. 
•    Direct disbursement: the bank must allow for direct check-writing and ach disbursements from this account to vendors for capital projects, ensuring a clean audit trail as required.
•    Insured cash sweeps (ICS): district is open to discussing the implementation of an insured cash sweep (ICS) or similar daily sweep mechanism for this account to maximize yield while maintaining full collateralization and FDIC protection for large balances. 
•    A final decision on the utilization of a sweep product is pending and will be determined during the final negotiation phase based on the proposed interest rates and fee structures.
- On-line banking system
•    Real-time reporting: access to current day balances, previous day balances, and intra-day transaction details. 
•    Transaction management: capability for the initiation of money transfers, wires, and stop payments. 
•    Self-service inquiry: ability to inquire on check cleared status and view and print high-resolution copies of cashed checks and deposit backup without bank intervention. 
•    Fraud and accuracy: display of ach files for accuracy, notice of returned items, and controlled disbursement presentments. 
•    Administrative control: ability to change passwords and add or remove users internally. 
•    Digital archiving: comprehensive on-line statement and reporting capability, including the ability to download and save monthly statements and transaction reports in pdf and csv formats for a minimum of seven (7) years to satisfy state record retention requirements. 
•    Support: provision of toll-free technical access and support.
- Remote electronic deposit (RED) requirements
•    Remote electronic deposit capabilities for all primary locations to streamline the deposit of checks and money orders. 
•    The banking partner must provide high-volume, multi-feed desktop scanners for the central office and sixteen (16) individual school locations as requested. 
•    Provide a comprehensive cost breakdown for the RED program. 
•    Disclose any 'hidden' per-item or per-batch deposit fees that are not offset by the earnings credit rate (ECR).
- Automated reconciliation and location-based deposit tracking
•    Standardized file format: the bank must provide a monthly electronic data file—specifically in bai2 or fixed-width format—no later than the tenth (10th) of each month for all accounts. 
•    Data requirements for Tyler tech: at a minimum, the file must include serial numbers for all disbursements and deposits, transaction type codes (e.g., ach, check, and wire), date of occurrence, and individual amounts. 
•    Unique location identification: to facilitate decentralized reconciliation, the bank must provide a means to assign each depositing entity (district location) a unique identification number. 
•    Deposit serial tracking: this unique identifier must increase for each deposit slip and appear in the serial number field of the deposit slip and the bank statement. 
•    Location sub-totaling: using this numbering system, the bank must provide data sufficient to track and sub-total deposit data by specific location for accurate reporting. 
•    Auto-match capabilities: the file will be used to auto-match "bank cleared" items against "district issued" items within Tyler tech to streamline the monthly closing process.
- Comprehensive card services and expense management
•    Lexible coding interface: the software must allow employees to assign general ledger (GL) codes to transactions via a mobile app or web portal. 
•    This must include a searchable drop-down list of the district’s org-object segments or the ability to manually enter account strings. 
•    Tyler tech (Munis) integration: the system must be capable of exporting transaction data in a format compatible with Tyler tech enterprise ERP. 
•    Banks should confirm their ability to provide a pre-configured export file that maps district-coded transactions directly to Munis import specifications. 
•    Sample deliverables: as part of the proposal, banks must provide a sample bai2 file and a description of their standard export process for Tyler tech customers.
- Card issuance and administrative controls
•    Physical cards: provision of p-cards and travel cards with customizable spending limits and merchant category code (MCC) restrictions. 
•    Virtual card technology: ability to issue single-use or vendor-specific virtual cards for AP automation and recurring digital subscriptions. 
•    Real-time management: a web portal allowing administrators to instantly freeze cards, adjust limits, or cancel accounts.