Banking Services

The vendor is required to provide banking services for the city’s finance department.
- Provide a secure, web-based solution that will allow the city online access to all city bank accounts.
- The system will enable the city user to communicate with the bank, download and archive information,
- Provide daily reporting, facilitate viewing and printing of the front and back of cleared checks, deposit slips, individual deposit items, etc., execute online stop payments, perform wire transfers, and access detailed ach information.
- All activities should be done on one central online website.
- The different online sites they use for each service type (i.e., fraud control, online treasury, ach control, deposits, etc.)
- The city currently utilizes an internet-based treasury management system to view and print daily balances and detailed transactions for its accounts.
- The city wishes to continue utilizing this type of treasury management system.
- The treasury management system will also allow for user security levels to be set up by a system administrator to access its features.
- Provide the city with access to online balance and account activity reporting:
1. Closing ledger balance
2. Collected balance
3. One (1) day float
4. Two (2) days float
5. Total credits
6. Number of credits
7. Total debits
8. Number of debits
9. Opening ledger balance
10. Opening available balance
11. Current available balance
- Individual activity amounts and descriptions to include, but not limited to the following:
a. Deposits
b. Wire transfers (incoming and outgoing)
c. ACH transfers (incoming and outgoing)
d. Internal bank account transfers
e. Other bank credits and charges
f. Individual check amounts aid along with corresponding check numbers and date cleared.
- The accounts payable, payroll, electronic merchant system, credit cards and utility accounts will be reimbursed at the close of the business day, or at the opening of the business day following the day the checks are presented for payment, depending on the bank's policy.
- All collected balances in the city’s accounts will be transferred to the operating/master account at the close of each business day.
- The master account should be an account specifically designed for deposits of public funds.
- All deposit tickets will reflect the account number for the operating account.
- There will not be any direct deposits into this account, except for the bank transfers to cover checks presented for payment.
- The accounts payable (zero-balance) account will always have a zero ledger balance at the beginning of each business day.
- All disbursements will flow through this account (zero balance).
- This account will be used solely to process disbursements for accounts payable.
- Contract Period/Term: 5 years
- Pre-Proposal Meeting (Non-Mandatory) Date: April 23, 2025
- Questions/Inquires Deadline: April 25, 2025