Banking Services

The Vendor is required to provide banking services for include:
•    Opening and closing ledger balance along with debit details and credit details via the internet.
•    All bank statements will be dated as of the last day of the month. 
•    The bank statements should be available online no later than five days following month end.
•    The district requires image storage of checks that includes images of the front and back of checks. 
•    This feature and all associated costs.
•    An account analysis for each account and a consolidated analysis for all accounts showing the cost of providing services must be provided by the bank monthly and included as a part of the image storage.
•    For monthly reconciliation purposes the bank will furnish an electronic file of paid items (a paid items reconciliation). 
•    A duplicate copy of this file should be maintained by the bank for a period of at least three months. 
•    This file must be accessible through online banking.
•    The bank must have available investment services to invest temporarily idle funds on an overnight basis for the district accounts. 
•    The normal short- term investment would be a re-purchase agreement or similar program. 
•    The district's average monthly balance in the overnight investment over the past 12 months is approximately $6.4 million (based on the volume and amounts of outstanding checks). 
•    The bank shall specify in the proposal all information concerning this type of investment including the method of computing interest (specific formula). 
•    The activity for this investment must be reported to the district. 
•    All deposits must be insured by meet state collateral guidelines.
•    The bank must agree to provide and show evidence of collateral on all funds the district maintains at the bank, both checking and investments. 
•    This collateral must be in conformity with state law regarding investments by political subdivisions and be invested in the name of the district. 
•    All securities used as collateral must adhere to state statues for political sub-divisions
•    The district reserves the right to invest with other banks and savings and loan institutions that are qualified public depositories at any time. 
•    Our external auditors will require confirmation of bank balances and pledge securities as of each June 30 as part of the annual financial audit.
•    The bank will be required to provide zero balance disbursement account (ZBA) services for payroll and utilities accounts. 
•    These accounts will be funded daily from the operating account.
•    The bank shall be a member of the national automated clearing house association. 
•    The district currently uses ach for payroll direct deposit. 
•    The proposer should also include in their proposal detail information concerning electronic funds transfer programs offered.
•    The bank must maintain wire transfer facilities to the Federal Reserve Bank and, on a same day basis, conduct electronic wire transfers of funds for both incoming and outgoing wire transfers.
•    The bank will provide stop payment services for checks via internet access. 
•    Include a description of all fraud prevention services and all associated costs.
•    The bank should provide a relationship manager and customer support, including staff qualifications and philosophy, who will work with the district to provide service improvement recommendations as well as cohesive communications.