Banking Services

The vendor is required to provide that banking services.
- Provide automated balance-reporting services for all district accounts
- Available information should include closing ledger, closing collected, opening ledger, opening collected, float, previous day debit and credit detail and ach credit and debit detail.
- Provide on-line access to information on cleared checks and automated stop payment facilities.
- Collateralized all deposits pursuant to the qualified public depository (QPD) requirements under, state statue.
- Provide check reconciliation services.
- District currently uses a manual reconciliation process but intends to evaluate the benefit of using full reconciliation services including
- The bank should provide an online capability for viewing images of cleared and cancelled checks.
- Provide monthly activity statements and reports for all accounts.
- The statement cutoff should be the last day of the month.
- Provide district with custodial and safekeeping services for district securities
- Provide district with credit card services
- Fraud risk management solutions
1. Ach fraud control
• Prevents unauthorized ach transactions from unexpectedly settling against your account.
2. Choose among the following ach fraud control options:
• Ach block – returns all ach debits or credits attempting to post to an ach blocked account.
• Ach control – accepts authorized ach transactions based on your list of designated originators.
• Ach control with positive pay – gives you the option to review and decision any unauthorized ach transactions.
3. Account dollar limits
• Establish a maximum dollar amount for checks clearing your account.
4. Positive pay
• Compares checks presented for payment against your electronic check issuance file to identify unauthorized payments
5. View and make the decision to accept or reject items.
• Basic positive pay – compares checks presented for payment against your issuance file with no hard copy account reconcilement reports.
• Positive pay – compares checks presented for payment against your issuance file and includes the hard copy account reconcilement reports.
• Premiere positive pay – funds only those checks that will clear based on “matched items” for that day.
• Payee match positive pay – detects any differences in payee name, in addition to check number and dollar amount.
- Fraud risk management solutions
• The emergency disaster plan and/or manual system used to provide banking services along with backup and recovery capabilities.
• Provide a detailed description of the controls in place to ensure the integrity of the funds transfer system.
• Describe the types of insurance and bonding carried.
- Conversion
• Describe a conversion plan to transfer assets of district to your financial institution.
• Indicate your plans for educating and training district employees in the use of your systems
- Credit card services
1. Credit card revenue
• The district currently accepts credit card payments at four of its locations and through the online (internet) services of simple pay.
• Credit card transactions generate roughly $153,730 in sales annually with a gradually increasing average of 390 transactions per month at about $26 per transaction.
• These transactions are processed daily and submitted to the district the next business day.
• At this time “simple pay” is the district’s only source for accepting credit card revenue.
• Though it has not yet been determined if the services will continue in this manner, said service may be offered as an optional item for future consideration.
2. Corporate credit cards (p-cards):
• The district currently has a corporate “p-card” that is provided through a contract procured by the state of, department that contract is scheduled to expire January 2026.
• Pricing should be quoted for electronic authorization with a back-up system, as well as, telephone transactions.
• Describe the authorization services provided by the bank
- payment for banking services
• District prefers using a combination of balances and fees for all service charges associated with the monthly activity for each account.
• The accounts may on occasion be “swept” into an overnight repurchase agreement to a target balance of zero
• In addition, the account analysis statement should show average balances and average net collected balances, along with itemized monthly activity of each account and services activity cost associated with each.
- Payroll services
• District requires processing of direct deposit payroll bi-weekly for approximately 90 percent (225) of its 250 employees
• Direct depots are currently processed in-house by designated staff; though outsourcing may be considered in the future.
• As such, said service may be offered as an optional item for future consideration.
- Contract Period/Term: 1 year