Bank Depository Services

The Vendor is required to provide all banking services from collection to disbursement and safekeeping.
- Cash management goals, specifies the banking services required of all respondents, and the estimated activity volumes on all accounts.
- Currently utilizes Microsoft Dynamics GP as its accounting software, county northstar as its customer connect, and Invoice Cloud for its credit card payment processor.
- This is the master bank account into which all agency deposits are swept and from which all accounts are funded.
- Collected balances in this concentration account, over a specified balance that may or may not be maintained for purposes of achieving earnings credits, would automatically be swept daily into a qualified money-market account for investment at the end of the day.
- Provide a description of the bank’s ability to offer a public fund depository.
- List the two year historical annualized yield of each proposed money market sweep account.
- List the portfolio composition, fee structure, number of participants, rating from one of the three major rating agencies (moody’s investor services, standard & poor’s rating services, and fitch ratings), current balance, when interest is paid, and the weighted average maturity.
- Include a description of the banks’ ability to provide different types of depository accounts, such as disbursement, controlled disbursement, zero balance accounts, positive pay, etc.
- Provide a prospectus of any money market fund that is used in the sweep options.
- Provide details about any special interest bearing accounts.
- Depository shall provide positive pay services.
- The successful respondent shall include a statement on the stop payment process on an automated or manual basis and the associated costs.
- Contract Period/Term: 1 year
- Questions/Inquires Deadline: June 16, 2025