The Vendor is required to provide a comprehensive agreement for banking services, purchasing card services, and merchant services to support the financial operations of the district.
- The District manages significant daily cash balances, high transaction volumes, and complex fund structures requiring institutional-grade banking services, advanced fraud controls, and real-time visibility across all accounts.
- Core Banking Services
• Primary operating accounts with zero balance account structures and must have the ability to set and automatically manage target balances within specified linked accounts.
• Automated Clearing House (ACH) origination and receipt capabilities.
• Wire transfer services for domestic and international transactions.
• Positive Pay services for all disbursement accounts to prevent fraudulent activity.
• Account reconciliation services with daily reporting and exception reporting for unverified transactions.
• Online banking platform with real-time account access and transaction monitoring.
• Lockbox services for payment processing and receivables management.
• Remote deposit capture services for all school locations and administrative offices.
• Services must comply with all federal, state, and local banking regulations, including FDIC requirements, state collateralization rules, and applicable reporting standards.
• Must provide true zero balance account structures with automated end-of-day sweeps.
• Manual transfers, delayed batch processing, or non-ZBA alternatives shall not be considered acceptable substitutes.
• Must clearly disclose daily processing and cutoff times for ACH, wires, sweeps, and deposits, including same-day availability standards.
- Cash Management Services
• Daily automated sweep services between operating, concentration, and investment accounts to maximize interest earnings and ensure fund utilization.
• Investment sweep options for overnight and short-term investment of idle funds with real-time reporting on balances and yields.
• Concentration account services for centralized fund management.
• Detailed cash position reporting with forecasting capabilities.
• Electronic statements with check imaging, electronic document retention services, and search functionality to enable audit preparation and historical reporting.
• Configurable user permissions and hierarchical authorization structures with separation of duties, audit trails, and role-based access.
• Automated alerts for unusual account activity, ACH blocks, and positive pay integration to minimize exposure to unauthorized transactions.
• Connectivity with the District’s Enterprise Resource Planning (ERP) Systems to support real-time posting, reconciliation, and reporting.
• Reporting capabilities to support internal and external audits, including historical transaction archives and automated compliance checks.
- Additional Banking Requirements
• Collateralization of deposits in accordance with Florida Statutes.
• The Proposer shall support remote deposit capture for all designated District locations, including schools and administrative sites, with standardized equipment, training, and technical support.
• Secure courier services for deposit pickup at designated locations and maintain tracking and chain-of custody protocols to ensure funds are transported and deposits are recorded accurately. Additional insurance requirements may be required, and will be negotiated with the Proposer.
• Dedicated relationship management team with education-sector expertise.
• Monthly account analysis statements with transparent fee structures.
• Disaster recovery and business continuity protocols.
- Manual uploads or third-party workarounds shall not be considered compliant. Services must include, at a minimum:
• Individual card limits with transaction and monthly spending controls
• Configurable per-card and per-department transaction limits, as well as daily and monthly spending caps. The program must support dynamic adjustments based on the District’s needs.
• Customizable approval workflows aligned with the District’s organizational structure, enabling preauthorization for purchases above designated thresholds. Multiple approval hierarchies based on organizational structure.
• Real-time transaction monitoring and alerts.
• Customizable merchant category code (MCC) blocking capabilities.
• Ghost card and virtual card options for specific purchasing scenarios.
• Comprehensive card management portal for program administrators.
• Full featured Expense Report Management (ERM) tool integrated with the purchasing card system.
- Cardholder Services and Features
• EMV chip technology for enhanced security.
• Customized card design with District branding.
• Level III data capture for enhanced reporting and tax compliance.
• Automatic billing and payment processing aligned with District cycles.
• 24/7 customer service support for cardholders.
- Merchant Services
1. Payment Processing Capabilities
• Point-of-sale terminal deployment at school cafeterias, bookstores, and administrative offices.
• Virtual terminal capabilities for phone and mail order transactions.
• Integrated payment gateway for online payments through District websites.
• Mobile payment processing solutions for athletic events and field trips.
• Recurring payment capabilities for extended day programs, student fees, and meal accounts.
2. Payment Methods and Security
• Credit and debit card processing for all major card brands.
• ACH payment acceptance for electronic check processing, including verification and automated posting to the District’s financial system.
• Digital wallet acceptance and mobile payment support, such as Apple Pay, Google Pay, Samsung Pay, and other frequently used platforms.
• Payment Card Industry Data Security Standard (PCI DSS) compliance with quarterly security scans, annual assessments, and adherence to all applicable payment card industry standards.
• Point-to-point encryption (P2PE) for all card-present transactions.
• Tokenization services to safeguard payment credentials, reduce fraud risk, and maintain compliance with data security regulations.
- Contract Period/Term: 1 year
- Pre-Submittal Meeting (Voluntary & Online) Date: January 6, 2026
- Questions/Inquires Deadline: January 9, 2026
