Banking Services

The Vendor is required to provide banking service includes the handling of deposits from approximately 35 locations; processing payroll, and accounts payable checks; furnishing supplies, including bank bags; and handling wire transfers.
- A separate deposit slip will be used for each bundle of checks and for each bundle of coin and currency.
- The district processes its own payroll, and maintains separate payroll, and controlled disbursement ZBA checking accounts.
- General account is an accounts payable checking account, for which the district furnishes all required checks.
- A separate bank account is also maintained for debt service transactions.
- A monthly account analysis will be required for each of the four accounts.
- Also utilizes direct deposit of its payroll to any financial institution through ach transactions.
- The district maintains the following accounts:
• General account
• Payroll ZBA account - funded by general account
• Controlled disbursement account - funded by general account
• Debt service account
• Money market account
- Requirement:
• On-line electronic banking services, including account balance inquiry, deposit verification, automatic wire transfers, and stop payment orders, for all accounts.
• CD-ROM or electronic transmission of check imaging, in order to eliminate storage of actual canceled checks.
• A daily report of cash on hand, verification of daily deposits, and a daily cash deposit reconciliation.
• Preprinted deposit tickets for all locations.
• Wire transfers of funds to or from various banks located in the country.
• ACH ability for direct deposits from third parties, with same day credit to the depository account.
• Serve the district as an outlet for its investments in total or in part.
• Listing of checks clearing for the month, preferably submitted by electronic transmission.
• ACH ability for direct deposit of district’s payroll to any financial institution in the submitted to the bank via electronic transmission.
• Normal banking services must be willing to wire-transfer funds to other banks or agencies, and to transfer funds from the general account sufficient to maintain a zero balance in the payroll, and controlled disbursement accounts, and notify the school district of transfers with a credit or debit memorandum.